New businesses owners need to execute exceptionally well, otherwise they are increasing their risk of failure. Exceptional execution is usually the outcome of hiring exceptional people. As Dan Geller, founder of Gate Guru described it at a Wharton Entrepreneurship panel discussion I recently attended: “10% of start-ups are successful; those are the ones that hire […]
All businesses have risk, especially new businesses. There are things that new business owners can and should do to mitigate the risk, but often don’t. At the top of the list: make good business decisions based on industry knowledge. It is much easier for a new business owner to make well-informed decisions if he […]
Budgeting can be an effective tool for profit improvement if done properly. I learned that lesson when I started my career in Finance with General Foods, makers of Maxwell House Coffee and Jell-O Desserts. We didn’t even call the annual budget a “budget,” we called it the “Operating Plan” and that tells you something about […]
Last week, I was a guest speaker again at the Kauffman Fast Trac program, speaking on Pricing Strategy. As I told the twenty or so Growth Ventures students, the costs for your products or services typically are the basis for establishing a floor you don’t want to price your product or service below. It pays […]
“If a banker asks how much money you want to borrow, and you respond ‘how much will you give me?’ you’ve just disqualified yourself,” Madeline Marquez, VP at the Business Initiative Corporate of New York, told an audience of 200 at the Javits Center, as part of a panel discussion on how start-ups should access […]
I was recently a “guest-blogger” for my good colleague John Dunham, founder of the economic consulting firm John Dunham & Associates. The topic I chose was the Food Safety Modernization Act, and the implications and reasons for its delayed implementation. Below is the start of my contribution, for the entire blog posting, please go to […]
David@RudofskyAssociates.com
Phone: 1-914-216-3566
Based in New York City. Doing business nationally.
