If you’re stuck in the brainstorming stage, the first step is to focus on two questions: ‘Why?’ and ‘Who?’ Do you constantly have great business ideas which fall to the wayside because you just don’t know how to turn those daydreams into reality? If you’re stuck in the brainstorming stage, that’s probably because you don’t know what to do next.
Whenever there’s a holiday, no matter where it falls during the year and the work week, you know one thing’s for sure: Productivity is going to drop. But what if it didn’t have to? The struggle is real. During December alone, studies show that more than two-thirds of workers report being less productive compared to other months. Employee absenteeism and distraction pose significant costs to the overall economy and your bottom line in particular. Even non-holiday events can have a high cost: The 2017 solar eclipse cost the U.S. an estimated $700 million in lost productivity. For every 14 minutes employees spend shopping online at work during CyberMonday, employers can lose $450 million in productivity/wages.
Alli Webb, the successful founder of Drybar, shares the best (and worst) career advice she’s ever received. Like many of the best business ideas, Drybar, a chain of hair salons specializing in blowouts, was inspired by a personal need. Founder Alli Webb knows from experience that the right hairstyle can have a significant impact on your self-confidence, and it was her struggle with her own hair that sparked the idea for a chain of salons offering affordable hairstyling services to the masses—aka Drybar.
The game of entrepreneurship can feel like a never-ending round of Chutes and Ladders. Just when you think you’ve reached a new level, everything you worked for suddenly takes a turn, and you are faced with the daunting task of toughing it out or letting it all go.
And sometimes, even when things seem fine, those in charge walk away willingly. Here’s a big example. Instagram cofounders Kevin Systrom and Mike Krieger recently decided to separate from their cyber baby and move on to their next innovation. Though this news came as a shock to many, including those within the Instagram camp, it’s not uncommon for business people to shift gears to create something new. (Some are considering the move Systrom and Krieger’s way of separating from Facebook while the tide is still high.)
As a startup founder in Silicon Valley and advisor to some of the hottest startups in the last five years, I have had the opportunity to understand founders, fundraising and the startup growth process. (Full disclosure: I was a consultant for Uber and Airbnb and a startup advisor for Salesforce Ventures and Google Ventures.) In 2018, I moderated 12 pitch competitions across the country, funding 10 up-and-coming startups. But it isn’t easy being a founder in highly competitive Silicon Valley, and funding is becoming scarce. Here are my top dos (and don’ts) for grabbing the attention of Silicon Valley investors.
Keep growing, learning and moving forward. You can’t be great if you don’t commit to the first step. According to banking behemoth JPMorgan, there’s an 18 percent chance of an economic recession during the next year. The risk increases to 52 percent within the next two years and reaches a staggering 72 percent by 2021. Will it actually happen? That’s anyone’s guess, but it pays to be smart and savvy about what you’re doing now to protect yourself in the future. A market crisis doesn’t mean certain death — it could mean the birth of a new entrepreneur.
Many people believe that successful entrepreneurs are born to take risks.
Either you were an eight-year-old with a lemonade stand or you don’t have the right stuff.
I disagree. I’m not fearless and I don’t take risks.
by Aytekin Tank Founder and CEO of JotForm
Traditionally, startup businesses draft a business plan for three specific reasons: to articulate their vision for the business, to document how they plan to solve key challenges, and to pitch their business idea to potential investors. But what if I told you that business plans for startup companies are usually not worth the effort? […]
Entrepreneurs wrestling with depression. Entrepreneurs are, if nothing else, creators. They thrive on the unknown and live to create something out of nothing. With that drive, however, comes an increased risk of depression and mental illness.
The easier you make it for investors to understand your startup structure and operations, the more likely they will be to invest. Once a business gets up and running, it’s time to reassess where the company’s operational priorities are. It’s tempting, at that point, to let “structure” remain on the back burner, when you’re scrambling for growth. But having that singular factor in place early on is much more effective than backlogging it two years later, should you, for instance, need a clear picture of your financial history.