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The track record is well known and sobering for any entrepreneur: 90 percent of all new ventures fail. It’s not hard to see why. Start-ups often lack vital resources, must compete against established companies, and have little or no track record with which to woo customers and investors. So how do those one-out-of-ten firms grow into successful, sustained enterprises?

Assistant professor Mukti Khaire believes that small companies can grow by developing intangible social resources such as legitimacy, status, and reputation. In an interesting twist, her research on this insight is that these intangible resources may be best acquired by following a road of conformity in how your company is organized and presented to the outside world. In start-ups in established industries, conventional business titles such as Marketing Director work better than novel ones like Chief Evangelist.

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You may find the following writings from Harvard Business School helpful on your new or to-be startup.

Questions to be answered:

* Should I keep control of my company?
* How do I turn potential into profit?
* How can a resource-challenged start-up grow?
* What legal mistakes should I watch out for in starting a new company?

Should I keep control of my company?

Rich or Royal: What Do Founders Want?
http://hbswk.hbs.edu/item/5543.html
It’s a fundamental tension many entrepreneurs face, the conflict between wanting to become rich and wanting to keep control of their new company. Few can have both. Professor Noam Wasserman discusses his research into the motivations of entrepreneurs and the people who invest in them.

Key concepts include:

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