October, 2022

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Why Startups Really Fail, and How To Fix It

Entrepreneur's Handbook

Photo by Matthew Osborn on Unsplash As founder of six startups, advisor to founders, and a startup strategist at IMD ( #1 ranked business school ), I see many mistakes being made and have made many myself. What drives me crazy is that the same mistakes happen again and again. So here is my scary list of the most impactful mistakes founders make: Mistake 1: Scaling Early (Means Failing Early) The top three reasons why 90% of startups fail are “no money,” “no market need,” and “too strong competi

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EO members share 9 lessons learned from childhood entrepreneurship

Entrepreneurs' Organization

Contributed by Kym Huynh, an EO Melbourne member, EO Global Communications Committee member, and co-founder of WeTeachMe. Kym is fascinated by entrepreneurs and their journeys, so he asked EO members from various chapters to share their experiences. Read his earlier posts on what EO members wish non-entrepreneurs knew about entrepreneurs, how EO members define success , the impact of core values , lessons learned from their best and worst partnerships and the best advice they’ve ever received.

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How a Company Becomes a Pillar of Its Local Community

Revolution

This article originally appeared in Harvard Business Review on October 3, 2022. Hill Street Studios/Getty Images There was never a guarantee that Detroit would become the Motor City. At the turn of the 20th century, any number of American municipalities with similar access to talent, materials, investment, and transportation might have emerged as the beating heart of the automobile industry.

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Orlando has all the ingredients to be the next big startup hub

TechCrunch

There’s much potential for Orlando to be what Austin is to Texas, what Atlanta is to Georgia — a booming hub where startups flock from around the world to dream, innovate and grow. The numbers are already showing potential: New PitchBook data found that in the first half of this year, a little more than $360 million was invested in the Orlando-Kissimmee metro area, way more than the $144 million invested in H1 last year.

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Digitalization: 5 Tech Updates That Will Help You Survive The Recession & Thrive

Lack of digitalization decreases business competitiveness. To thrive, embracing modern solutions becomes essential. The approach to digitalization often aligns with a company's business model. This shift not only boosts productivity but also automates processes and improves security. The tech market offers a wealth of technologies tailored for management, planning, and forecasting, replacing outdated pen-and-paper methods.

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Seraf Toolbox: Dealing with Restricted Stock - Model IRS 83(b) Election Form

The Seraf Compass

Many years ago I joined the board of a company after my angel group became the lead investor in the company’s seed financing round. As part of my compensation for being a board member, the company issued me restricted stock. Since I was new to the early stage investing world, I didn’t understand what the tax implications were with restricted stock. It’s unfortunate that I didn’t get good tax planning advice at the time, because if I had, it would have saved me a significant amount on my tax bill

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Learnings of a CEO: Matt Schulman, Pave, on Hiring

Y Combinator

Welcome to the third edition of Learnings of a CEO. You can read previous editions here. Pave helps companies plan, communicate, and benchmark employee compensation. Today, the company has 160 employees, more than 3,500 customers, and is valued at $1.6B. Founder and CEO Matt Schulman has created one of the most comprehensive and thorough recruiting processes, which has made him one of the most successful recruiters in the YC community.

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Q&A with GSEA ‘Together We Grow’ Award Winner, Arnold Shoko

Entrepreneurs' Organization

The EO Global Student Entrepreneur Awards (GSEA) is the premier global competition for students who own and operate a business. Nominees compete against their peers from around the world in a series of local and national competitions in hopes to qualify for the GSEA Global Finals. GSEA delivers on its vision to empower student entrepreneurs to become the world’s most influential change makers by supporting student entrepreneurs who require much-needed mentorship, recognition and connections to t

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The real guide to building a business from someone who has built Europe's first on-demand fuel business

Founder Bounty

Building a business or startup is hard and risky. You have to be dedicated, and motivated a reduce your chances of failure. Im Vlad Kozul and I have build Europes first ondemand fuel company. In this article, I want to give you some of the learnings and lessons for you to make your side hustle and business successful. Check out what we had build here: Lessons learned from Building Europe’s first OnDemand fuel station from its COO Before Shell tap-up and Cafu and others, we built Euro

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Nigerian proptech Spleet gets $2.6M led by MaC VC to scale its property management products

TechCrunch

For the average individual living in Lagos — Nigeria’s most populous city, with over 20 million people — apartment hunting is an extreme sport. Not only is rent expensive — low- to middle-income housing can cost between $1,000 and $5,000 yearly — but renters must also pay a year in advance, sometimes even two before moving in.

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The Big Payoff of Application Analytics

Outdated or absent analytics won’t cut it in today’s data-driven applications – not for your end users, your development team, or your business. That’s what drove the five companies in this e-book to change their approach to analytics. Download this e-book to learn about the unique problems each company faced and how they achieved huge returns beyond expectation by embedding analytics into applications.

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Weekly 19: How to sell your startup to VCs in one minute

Entrepreneur's Handbook

Welcome to another edition of our new newsletter! You’ll receive the best practical startup advice straight to your inbox every week. In this week’s edition, we share: Why your pitch deck has one minute to sell investors on your startup The 7 types of startup founder, and why it matters to you Let’s do this. P.s. Listen to our latest podcast episode w/ Henri Pierre Jacques here How to grab a VC’s attention in just 1 minute When DC Palter receives a pitch, it has his attention for a minute.

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make believe

Derek Sivers

Kids scream, “Monster in the hallway!”, and hide behind the couch. They stack up cushions for protection, and plan their defense. They know it’s not true — there’s not really a monster in the hallway — but it’s exciting to feel the adrenaline of panic, then make a shelter and feel safe. One kid yells, “The floor is hot lava!” The familiar room transforms into islands among danger.

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YC Founder Firesides: Mutiny on AI and the next era of company growth

Y Combinator

Mutiny ( YC S18 ) uses AI and data to convert website visitors into customers. Today, the fastest growing B2B companies such as Notion and Snowflake use Mutiny to identify ideal customers, determine sections of websites that will increase conversion, and produce copy that converts visitors into customers. YC’s Anu Hariharan sat down with Mutiny co-founder and CEO Jaleh Rezaei to talk about their recent acquisition of Intellipse, an AI marketing platform, as well as how AI will impact the

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3 Lessons Learned from Living in Adventure Mode

Entrepreneurs' Organization

I spent 14 years building and scaling my business, International Nomads. We launched in 2006 as the first full-service digital agency in the Kingdom of Saudi Arabia and Middle East region. We crafted digital strategies for brands and built apps, games, marketing campaigns, and story-driven experiences long before it was popular in the region. We were explorers and adventurers, like many startups: Following our passion, trusting our gut, and building something we loved.

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PE Mastery: CAPTARGET's Playbook for Quality Lead Flow

CAPTARGET presents a masterclass in M&A deal sourcing. Learn to cast a wide net, embracing seller self-identification. Consistency is the linchpin: keep the origination process steady for a reliable flow of opportunities. Diversify your tactics, employing various tools and vendors. Tech matters! Understand DNS settings, domain authority, and brand presence for optimal outreach.

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Five Pillars of PLG with Carilu Dietrich

Tomasz Tunguz

Yesterday, Office Hours hosted Carilu Dietrich, marketer at Atlassian & advisor to many iconic product-led growth companies (PLG). She’s seen many different types of businesses from startups to massive publicly traded software companies. Her unique vantage point on the tension facing the companies pursuing both PLG & classic selling formed the basis of most of our conversation.

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Homa raises another $100 million for its data-driven mobile gaming tools

TechCrunch

French startup Homa has raised a $100 million Series B funding round. Quadrille Capital and Headline are leading the round. Homa partners with indie mobile game studios so that their games are perfectly optimized to become a hit game on the App Store and Google Play. In other words, Homa builds tools that help third-party developers build games. The reason for that is that it has become incredibly challenging to stand out when you build a hypercasual, casual or board game with a small dev team.

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A Venture Capitalist Told Me How He Decides Which Startups to Fund, and I Couldn’t Believe It

Entrepreneur's Handbook

The real reasons people invest in startups aren’t always what you’d think. Continue reading on Entrepreneur's Handbook ».

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Even after doing Techstars and an interview with YC I could not raise capital for a new business

Founder Bounty

VC funding is hard. Very hard. The chances of you raising are very very small and dont be surprised if you dont get it. Even after being through techstars , plug and play and building Europes first ondemand fuel business , we could NOT raise money for chefr (an eCommerce platform for restaurants). Even having an interview with YC we still could not do it.

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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My Super Short Twitter Wishlist

Continuations

Elon Musk has successfully acquired Twitter. Many people seem convinced he will ruin it in short order. And while that’s of course conceivable, it is also possible that he will fix some long running problems. It’ s not like Twitter had been a well-run company. So now seems like a good time to resurface what I had tweeted in April. Restoring full API access would dramatically shift power back to endusers.

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How to Break Free of The Enhanced Silos Remote Work Creates

Entrepreneurs' Organization

Over the last few years, we have learned first-hand the many benefits of working remotely. But there are downsides as well: Namely, the way we communicate between departments and teams in remote and hybrid environments has built bigger silos. In an office, the opportunity for collaborative communication is far greater. With everyone working in the same place, there are more chances for employees to interact organically and communicate with coworkers outside of their teams.

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Sales Efficiency through Covid : Reading the Tea Leaves for Startups

Tomasz Tunguz

In 2017, SaaS companies reported their cost of customer acquisition had increased by 65% in the previous five year period. What happened to these figures during Covid? We can examine the sales efficiency of public software companies to get a sense. Since 2016, the average public software witnessed its sales efficiency winnowed from 52% to 47%, a decline of about 10%.

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Fast Forward Venture Studio to build African startups from idea to scale

TechCrunch

Opeyemi Awoyemi , one of Nigeria’s well-known serial founders, is back with another outfit. It’s not a tech company this time — Awoyemi co-founded online jobs site Jobberman (which was acquired by ROAM Africa in 2016) and Whogohost, a bootstrapped hosting platform — but instead, a venture studio: Fast Forward Venture Studio. Awoyemi choosing this route is quite interesting, especially as many African founders either launch syndicates or venture capital funds post- or duri

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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This 21-Year-Old Entrepreneur Built A Six-Figure Business From LinkedIn?—?Here’s What She Told Me.

Entrepreneur's Handbook

The secret lies in one word — Gen Z. Continue reading on Entrepreneur's Handbook ».

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Unvarnished Feedback: The Advantages of Using a Customer Council

The Seraf Compass

The customer council is one of the best kept secrets of product management and company strategy. Unlike an advisory board, with specialists who often have a closer relationship with the company or even a personal relationship to the CEO, a customer council consists of ordinary users who can give their unvarnished feedback on the product directly to the company.

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How To Raise Capital and How Raising Capital Has Changed

Gust

How has fundraising changed in the last few years? Between COVID, the evolution of the API economy, and a increase in second, third & fourth time founders who are seeking funding. Janelle van Deventer breaks down the options for raising capital through bootstrapping, dilutive investors, government subsides and various forms of debt. The post How To Raise Capital and How Raising Capital Has Changed appeared first on Gust.

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EO Australia Members Give a Helping Hand

Entrepreneurs' Organization

Contributed to EO by Peta Strachan, Operations Manager at Free 3D Hands , a mission-based charity in Australia that designs and 3D-prints prosthetic hands and assistive devices for free. Earlier this year, EO members from all around Australia attended EO Ignite – Reignite Your Passion, a regional event at stunning Hamilton Island, located in the heart of the Great Barrier Reef.

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How to Avoid the Pain and Cost of PCI Compliance While Optimizing Payments

Speaker: P. Andrew Sjogren, Sr. Product Marketing Manager at Very Good Security, Matt Doka, Co-Founder and CTO of Fivestars, and Steve Andrews, President & CEO of the Western Bankers Association 

PCI compliance can feel challenging and sometimes the result feels like you are optimizing more for security and compliance than you are for business outcomes. The key is to take the right strategy to PCI compliance that gets you both. In this webinar, we have a great set of panelists who will take you through how Zero Data strategies can be used as part of a well-rounded compliance and security approach, and get you to market much sooner by also allowing for payment optimization.