The scope of an internship or employee position can be difficult to define; fortunately, Robbie Kellman Baxter shares key tips that help clarify communication and identify requirements, ensuring expectations are understood.
The needs of a new subscription business change rapidly, especially early on.
Before organizations invest in technology infrastructure, they often serve subscribers in a more labor-intensive way. This is a good strategy for businesses to take as they work to refine product market fit and race to launch that first offering (minimum viable product) into the market.
Having an intern, or a contract (short-term) employee can be a cost-effective and flexible resource. And because of the global pandemic, there is a lot of talent available. Many talented people have been laid off and want to get into something new and growing. Students taking all their classes online have extra time available that would have gone to extracurriculars, sports and socializing. And many students are taking time off from college.
Even though the market for interns and contractors is huge and highly active, many executives seem unclear about how to optimize roles that work for both the organization and the individual workers.
I know this is a little bit of a departure from my usual newsletter content. But I hope many of you find it useful as you get creative in building out the talent for your team. And I also hope it is helpful for students and jobseekers who are open to roles that are less structured than the standard full-time employment.
Areas covered in this article include:
- Intern vs Contractor
- Payment Options
- Negotiation and communication
Read the full article, How to Scope and Define an Internship, on LinkedIn.
Diane Mulcahy provides valuable questions to help discern the compatibility of an investor before accepting funds for your next project.
In the race to get the check in hand, most entrepreneurs don’t do in-depth due diligence — or any due diligence — on the venture capital (VC) firms they pitch. Founding teams eager to raise capital to grow their companies enter into long-term partnerships with VC firms they don’t know well. It’s a risky strategy that can leave startup CEOs in mis-aligned partnerships with unrealistic expectations.
The four questions covered in depth are:
- What is the VC’s track record?
- How much money is the VC personally investing?
- How big is the VC fund?
- Do you have a list of portfolio company CEOs?
Read the full article, Don’t Take Money from VCs Until You’ve Asked 4 Questions, on the Harvard Business Review.
Robyn M. Bolton provides a few inside tips on how to work with resource constraints and the people who control them when you need to access the resources that will fund your innovation.
The process of setting annual goals and budgets can be frustrating and even demoralizing for employees and managers alike as their visions and budgets get slashed in each round of management reviews.
This process can be especially painful for Innovators who feel like they are expected to do more with less and, as a result, can’t even try to do anything new or game-changing because they barely have the resources to operate the current business.
Resource constraints are a reality in every organization. The trick is not to give up when you run into them, but to figure out how to work with them and, more importantly, the people who control them.
The steps are:
-Know where there’s flexibility
-Channel your inner Mick Jagger
-Make your case
Read the full article, 4 Steps to Get the Resources You Need to Innovate, on LinkedIn.