STARTING UP AND ADVISING AN
Emerging Massachusetts Business
Lawrence H. Gennari
Although the book title specifically states ‘Massachusetts Business’, it is often misleading, because Lawrence H. Gennari’s edition delivers information on starting businesses anywhere, across America. Gennari’s work, “Starting Up and Advising an Emerging Massachusetts Business”, is a professional guide, tutoring business owners in the process of raising capital from sound sources, and developing exit plans for sell-out and investment liquidation. The book is a pointer towards how the creative and understanding responses of the legal heads of a start-up can contribute towards the company’s growth. A non-profit educational institution, the Massachusetts Continuing Legal Education, Inc. has published the book as an endeavor towards providing the public and attorneys with helpful legal information.
“Starting Up and Advising” has been written by 11 different writers who give a detailed account of critical economic issues that unquoted companies face during the start of their careers. Enunciating simple concepts put together in easily understandable prose, the book makes a wonderful read for new entrepreneurs
A notable feature of the book is the eight sections explaining key concepts of capital structures, organizational requirements, Government taxes, company assets, human resource management, and acquisition of capital, venture funding and strategies for exit. The authors outline tips to help entrepreneurs transit from private ownership and funding to capital investments and banking ventures.
The formation of businesses and considerations on related taxes is an important constituent of the book. Related chapters deliver a detailed analysis of the financial uncertainties that business owners face when making decisions. The authors of the book opine that most entrepreneurs fail due to lack of sufficient knowledge in solving business problems they are bound to face. The chapter also focuses on the importance of employees in an organization. Addressing employees as assets, authors feel that any venture should first attend to human resource issues first.
Securing capital funds is still a challenge for many start-ups. The book’s chapter on ‘venture capital financing’ is especially beneficial for new business owners seeking funds for their companies. Critical concepts and methods, such as the importance of counseling for venture deals, have been elaborated to help small companies fight economic challenges. The book stresses on expert help to identify, attract, negotiate and build relations with venture firms and benefit from their experience. The authors lay great value to the role of a business counsel. The book propagates that good counseling is a crucial step towards sealing venture agreements and sustaining long-term business relationships.
The book includes a chapter on ‘early-stage capital formation’ written by Gennari. The chairman of Gadsby Hannah LLP’s Emerging Growth and Technology Practice, and also its partner, Gennari provides a step-by-step guide encouraging creation of profitable business by young companies.
In his edition, Gennari calls a well-laid strategy for acquisition of capital, a ‘mousetrap’, and that presenting it right can help jumpstart a successful company. To attract financing for business development from concept to profits, entrepreneurs need take immediate steps towards securing capital. According to Gennari, an expert attorney or counselor, with a sound understanding of the business, is an integral part of a start-up, facilitating finance acquisition.
Lawrence H. Gennari