Companies can be complicated. We help entrepreneurs understand how best to run them.
Properly structuring and running a company can be complicated. Serious business ventures should adopt a formalized business structure such as corporation or limited liability company (LLC), both of which carry protections for founders and owners. RMIP mentors are knowledgeable in determining the best business model to choose. Setting up a business entity can be easily outsourced, but the proper operation of the entity falls to the owners and/or managers of the company. Failing to properly manage the requirements of corporations or LLCs may imperil the company and destroy the protections they otherwise carry. Understanding the proper and effective governance of a company is critical to success. RMIP has significant experience with corporate governance. Our mentors can help lead entrepreneurs through the potential minefield of managing corporations and LLCs. We note here that we are not attorneys, and are not giving legal advice. We are operators, and can provide the pragmatic business insight that is needed.
Executive management of a startup can be confusing for entrepreneurs. Many players may be involved, including a board of directors, shareholders, managers, and other stakeholders, all with unique responsibilities, interests, and rights impacting the business and its activities. Problems can arise when the interests of the various parties are misaligned. Communication between the various stakeholders can become problematic, and must be managed and facilitated. Many problems can be avoided if potential issues are detected early and addressed effectively. RMIP mentors have deep understanding of many of the issues that can arise, and can help entrepreneurs navigate the potentially confusing landscapes of corporate governance.
Some entrepreneurs prefer to hire experienced executives to deal with corporate governance and manage day to day operations. Often, this leads to faster growth and smoother operations, and allows founders to focus upon their strengths and passions, such as product development. All too often, entrepreneurs find that managing all aspects of running their startup is too much for one person to handle, especially when they experience rapid growth. For such situations, RMIP can help determine the benefits of hiring executives into key positions, and may be able to help locate properly qualified individuals.
Whether your business is new, or transforming, your business structure should be carefully examined. Our experts can help new ventures determine the best business entity to adopt. That includes advising on everything from corporate bylaws to best-fit business structures. For existing businesses in transition, our experienced mentors can offer insights and suggestions for ensuring your corporate governance evolves to best support the company. Contact us for more information.