Business Change Management

This blog is the last of five covering how to successfully build an organization out on your own without any support. To date I have covered six critical elements: think big, culture counts, beware of under-capitalization, it’s all about people, how to motivate, and lateral thinking.

So here we are, halfway through my eight items for success. We just talked about the hiring process and hopefully you have hired some really great people. So, once hired, now motivate them. But how do you do this…how do you challenge them? You have limited resources and yet, remember; you need these people to help build your company.

In my last blog I talked about keys to success. I covered “thinking big” and “corporate culture.” Today I am going to cover two other areas: capitalization and people

In my last blog I talked about the difficulty of building new ventures without the umbrella of a large corporation. I said there were eight critical factors for success. Today, I am going to talk about the first two:

For most of my career I have been involved in building new businesses. Some have been within large corporations such as Citicorp, L’Oreal and the healthcare unit of old Lederle Labs. Some as an entrepreneur; some out on my own. And while all my stand-alone start-ups have been in different fields with different market forces affecting the dynamics of the business, there are a number of commonalities.