Foundation, It's What We Were Build On
A foundation can be described as the basis or groundwork of anything.
From Wall Street Services: A successful person is one who can build a firm, solid foundation with bricks others have thrown at them. When we consider the definition as applied to the building industry, it is the base that supports the structure. Foundations are made wide so that pressure on the ground decreases. Buildings are massive structures which exert tremendous pressure on the ground and likely to sink unless the weight is evenly distributed. That is also true when creating a business; there is a lot of pressure exerted, and if you plan correctly, you will have the full support you need.
The word foundation means many things. The base of a building is its foundation. Foundation is a substance that women and actors apply to their face to give a uniform color. A philanthropic organization is called a foundation. In studies, like math and science, there are core principles that are termed "foundation." My family was involved in the Kosciuszko Foundation. I am deeply involved in Optimist International, and we have a foundation. In this type of foundation, there are some commonalities.
• Legal requirements followed for the establishment
• Purpose of the foundation
• Economic activity
• Supervision and management provisions
• Accountability and auditing provisions
• Provisions for the amendment of the statutes or articles of incorporation
• Provisions for the dissolution of the entity
• Tax status of corporate and private donors
• Tax status of the foundation
To build a business, relationship, a building or an empire, you must begin with a foundation. In my family, the foundation was built on education, praying together, and helping others from friends and neighbors to the community at large.
When planning a project or creating a lecture series, there is a base of knowledge called foundation. In my multifaceted world of entrepreneurship, my foundation is based on knowledge and discipline. They are governing ideas that help me get through my challenges.
Some solid principles for a sturdy foundation: Create a corporation to separate your public and private affairs. Make sure you trust your insurance agent. Establish a manual of operations so that for each round of new business you don't have to start from scratch. Be sure to have a decent level of technology. Be well informed in your area, and that will solidify your foundation.
What is the foundation of a business? Your business plans.
It is the foundation of strategic planning. Second, it is used to assess a firm's viability as a sound investment. It convinces the investors that you have thought through all aspects of starting a business, and you have a blueprint to succeed. Finally, it is a document to attract key talent to your venture.
Cynthia has a passion for art and science and travels giving her a unique perspective. Her education and experience as an entrepreneur, help her to see the big picture. She not only sees the big picture, but she also frames it creatively!