An entrepreneur is literally “one who creates a new business.” The best new businesses are ones that have never been done before, so mastering creativity and recognizing creativity are key skills and mindsets. But how does one recognize and nurture creativity in a person or team? In researching this question, I reviewed a classic book […]
Startup
5 Most Important Illusions About Startups
Q: What are some illusions about start-ups? A: here’s my list of the five most important illusions about startups The illusion of the idea. Few businesses have truly new ideas. Apple didn’t; Facebook didn’t; Google didn’t. They took an existing idea and did it better, or differently. Quite often the second or third entrant into […]
9 Important Goals to Hit in Your Startup’s First Year
If you have an entrepreneurial spirit and have yearned to start your own business, now is the time. With the highest survival rate in over a decade, approximately 79.9 percent of startup companies are surviving their first year of operations. However, this is no small feat. As a business owner, you have to be very […]
3 Critical Questions to Ask Yourself Before Starting a Business
Starting a business? Thinking about starting a business? Here are my suggestions for three quick questions you should ask yourself first: What are the chances that the business I want to start will be able to launch and grow? That’s a matter of market, product, product-market fit, need, demand, fulfillment and delivery. What resources are […]
Want to Launch a Successful Online Startup? Focus on These Building Blocks
Everyone wants a formula, funnel, or three-point outline for how to start, manage, and grow a successful business. And while there’s nothing wrong with a framework, the truth is that there’s nothing simple about building a successful online startup. If it were easy, everyone would be managing their own seven-figure hustle from a beachfront villa. […]
The Biggest Business Mistakes New Business Owners Make
New business owners are naturally excited about getting up and running. If you’re a new business owner, then kudos to you. You’re doing the hard work necessary to put yourself and your family on better financial footing. But along with the enthusiasm for your new business comes the possibility that you will make mistakes. Minimizing […]
How to Manage a Successful Remote Startup
The past few years have seen a slew of startups that are completely remote. Zapier, an online service that allows businesses to quickly integrate their apps with multiple APIs is fully remote and so are other popular names like Close.io, Automattic (the makers of WordPress) and TopTal. Launching a fully remote business is attractive for […]
Can You Overcome 5 Risks and Create Wealth?
Of course, we are speaking of increased valuation of your company when we speak of “wealth.” Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. So, let’s examine them and mitigate them. Make you wealthy someday. […]
Oh, Go Ahead and Ask for a $5 Million Investment in Your Startup
I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business. Four reasons you should reconsider. First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. Second, almost […]
Don’t Despair While Building a Sustainable Business
Entrepreneurs seem more quickly frustrated these days when their “million-dollar idea” doesn’t turn into a sustainable business overnight. They don’t realize that it takes many skills to build a business under the best of circumstances, and today’s world of instant gratification doesn’t leave room for the patience and practice to develop these skills. Successful sports […]
