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How to Survive Your Start-up's First Year

How to Survive Your Start-up's First Year | Entrepreneurship & Entrepreneurs | Scoop.it

The bottom line about a startup's first year is that it's very scary. There are two aspects of fear that will trail you the whole year. The first is fear of failure. What if you tell everyone you're starting a company and then you can't and you feel stupid for years afterward? The other aspect of fear is financial: What if you run out of money and have to work at McDonald's?

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Entrepreneurship & Entrepreneurs
Entrepreneurship: From the eyes of a Noob Entrepreneur & Knowledgeholic. Tips, hints & useful links.
Curated by Nikolas Daras
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10 Entrepreneur Comments That Kill Investor Deals

10 Entrepreneur Comments That Kill Investor Deals | Entrepreneurship & Entrepreneurs | Scoop.it
Lack of confidence in your self, your product, and your startup is a surefire recipe for disaster. At the other extreme, too much confidence or arrogance can kill you just as fast. It’s always painful when a startup fails, but as a mentor to founders, I would hope that you can learn from these failings and not stumble on the same issues. I’ve written about these before, but since I see them so often, I thought it might be worth reiterating:
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For Some, Age Is No Obstacle to Entrepreneurship

For Some, Age Is No Obstacle to Entrepreneurship | Entrepreneurship & Entrepreneurs | Scoop.it
According to a study published by the Kauffman Foundation and LegalZoom, about 20 percent of all new businesses in 2013 were created by entrepreneurs ages 50 to 59.
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Startup Tips: How To Know When You Need A Contract

Startup Tips: How To Know When You Need A Contract | Entrepreneurship & Entrepreneurs | Scoop.it
Do you sometimes lie awake at night wondering what will happen if your biggest customer doesn’t pay you? How about if the vendor handling your website upgrade takes off with your thousand-dollar down payment? These scenarios would be a nightmare for any bootstrappingentrepreneur — and they happen all the time.
Nikolas Daras's insight:

From the OP:

 

"When you show clients that you are professional and serious about your business, they will think twice before trying to stiff you"

 

"Have a contract for every single relationship your business enters into."

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Tips for surviving your first year in business | Bdaily Business News

Tips for surviving your first year in business | Bdaily Business News | Entrepreneurship & Entrepreneurs | Scoop.it

Maybe it’s just because I entered the entrepreneurial world relatively recently but it seems that ‘start-up’ is a buzz word in the UK at the moment. Driven by recession the government have an obvious motivation to encourage young bright talent to start their own businesses in the UK thus encouraging private investors to get their money back into the system. Not that us entrepreneurs should complain given the tax incentives  making  investment risk profile more digestible to the guys with the fat wallets. The old cliché of the majority of businesses failing in the first year unfortunately still holds true and if you plan on starting out on your own here’s some tips that I hope will help in your first year (some of which I wished we had known at the time!):

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European startups: Here are some practical tips for raising capital in the US

European startups: Here are some practical tips for raising capital in the US | Entrepreneurship & Entrepreneurs | Scoop.it

Stefano Bernardi recently wrote a good cautionary post about the difficulties of raising investment in the US. He’s not wrong – the odds are stacked against you – but I don’t think European entrepreneurs should be discouraged.

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The Secret to Startup Success? Tell Every Single Person You Meet About Your Idea

The Secret to Startup Success? Tell Every Single Person You Meet About Your Idea | Entrepreneurship & Entrepreneurs | Scoop.it
Here’s a social situation almost everyone in the startup community will recognize: You're at a party, or a conference, or a networking event, and some young founder sidles up to you to chat about his big project. He says his idea is going to disrupt everything about everything. He tells you about how it's sure to scale massively the minute he deploys. He tells you about the flood of investment dollars that will surely be unleashed the moment his brilliant idea sees the light of day. But he refuses to tell you his idea, at least until you sign a non-disclosure agreement, which he conveniently has in his pocket.
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Connected-Conversations.com's curator insight, May 6, 2013 1:01 PM

Great quote (from the article) that caps the author's argument:

“If you have an apple, and I have an apple, and we swap, we each still only have one apple. But if you have an idea and I have an idea and we swap, we each have two ideas.”

 

Many great, highly-successful businesses weren't the first in their respective fields, e.g., Microsoft and word processing, Apple and the graphical user interface. By excelling at execution, these companies have proven that meeting the customers' needs and wants is the best way to overcome the business that originated a field.

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My Favorite Entrepreneur Story In A Long Time | TechCrunch

My Favorite Entrepreneur Story In A Long Time | TechCrunch | Entrepreneurship & Entrepreneurs | Scoop.it
The tech industry has a certain narrative on how startups are created. Given the immense wealth generated in a short period of time, entrepreneurial lessons are often lost in the measure of dollars and growth.
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The Top 25 Books for Entrepreneurs That Kick Serious Butt - Good Financial Cents | Financial Planning and Retirement Blog

The Top 25 Books for Entrepreneurs That Kick Serious Butt - Good Financial Cents | Financial Planning and Retirement Blog | Entrepreneurship & Entrepreneurs | Scoop.it

Reading is said to be the spark behind creative thinking, and is one of the most predominate traits of individuals said to pertain a level of “higher intelligence”. Is the thought of gaining intelligence through reading actually viable? I believe that it is not intelligence that is gained through reading; rather it’s the exposure to other people’s thoughts and perception of events and processes that generally will lead to you being better rounded thinker.

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How groupthink and denial can ruin startups

How groupthink and denial can ruin startups | Entrepreneurship & Entrepreneurs | Scoop.it

I’ll admit it, the title of this article is downright curmudgeonly. But between visioning sessions, collaborative software development and Linus’ Law of bug detection — we’ve been taught to accept the wisdom of crowds as necessary to most startup decision-making. In our world, consensus is treated as a type of quality control and our success as leaders depends on a culture of listening and openness.  To an extent, all of this is true. But what happens when a constructive conversation becomes a futile one?

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How to Convince People to Join Your Start-up

How to Convince People to Join Your Start-up | Entrepreneurship & Entrepreneurs | Scoop.it

When you’re first getting your start-up off the ground, finding and reeling in awesome team members can be one of your biggest challenges.


In my experience, there are a few key factors that matter most to early stage start-up employees, and these are often the reasons that employees join start-ups in the first place. So, if you can show your top candidates how you can offer them those things, you’ll have a much better chance of people coming on board.

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Startup Lessons from Seth Godin [Video] | Intelligent.lyIntelligent.ly

Startup Lessons from Seth Godin [Video] | Intelligent.lyIntelligent.ly | Entrepreneurship & Entrepreneurs | Scoop.it

Master storyteller and blogger extraordinaire, Seth Godin, recently stopped by Intelligent.ly to share his marketing genius. From a group of over one hundred applicants, we selected a handful of Boston startups to serve up their greatest marketing challenges to Godin for advice. Boy, did he deliver.

Nikolas Daras's insight:

Take your time and watch this video (and also check intelligent.ly - it's an awesome blog). Seth Godin rocks!

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Starting your Startup

Choosing your technology stack is one of many decisions you’ll have to make when creating a company from scratch. Along with this, you’ll need to figure out who you should found a company with, who you should take money from, what the company culture should be, management processes, and who to hire when. Joe will be covering basic technology stack choices (cloud v. hosted, frameworks, etc.) as well as other critical decisions one faces when starting a startup.

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The Most Important Skill for a Non-Technical Startup Founder

The Most Important Skill for a Non-Technical Startup Founder | Entrepreneurship & Entrepreneurs | Scoop.it

Email.


More specifically. Writing a good email.

 

Now I know what you are thinking. How on God’s green earth can writing a good email be the most important skill you need a non-technical startup founder. So stay with me here.

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9 Things Entrepreneurs Can Learn From 'Shark Tank'

9 Things Entrepreneurs Can Learn From 'Shark Tank' | Entrepreneurship & Entrepreneurs | Scoop.it
Although it’s crafted for your viewing pleasure, "Shark Tank" offers a good dose of practical, real-world business advice for would-be entrepreneurs.
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How Luis Von Ahn Turned Countless Hours Of Mindless Activity Into Something Valuable

How Luis Von Ahn Turned Countless Hours Of Mindless Activity Into Something Valuable | Entrepreneurship & Entrepreneurs | Scoop.it
Luis von Ahn, a computer science professor and "genius grant" recipient, is turning your mindless web activities into something productive.
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Making the Transition to Entrepreneurship: 4 Steps

Making the Transition to Entrepreneurship: 4 Steps | Entrepreneurship & Entrepreneurs | Scoop.it
Starting a business is one thing. Now you need to learn to live like an entrepreneur.
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Tips to hire the right person for your startup | ZDNet

Tips to hire the right person for your startup | ZDNet | Entrepreneurship & Entrepreneurs | Scoop.it
Recruiting for a startup is always a challenge for founders, but there are some considerations such as defining the job scope and managing people's expectations that would help entrepreneurs in this respect.
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10 Questions to Ask Before Determining Your Target Market

10 Questions to Ask Before Determining Your Target Market | Entrepreneurship & Entrepreneurs | Scoop.it
A guide to understanding your customers and how your product meets their needs.
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Connected-Conversations.com's curator insight, April 22, 2013 9:00 AM

Great questions like the ones listed below demonstrate the importance of being connected to oneself and your community:


1. Who has already bought from me?
2. Am I making assumptions based on my personal knowledge and experience? (inner connection is important here)
3. What's my revenue model?
4. How will I find my customers?
5. Is there room to expand my target market?

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Startup Professionals Musings: 7 Reasons to Start a Blog Before Shipping a Product

Startup Professionals Musings: 7 Reasons to Start a Blog Before Shipping a Product | Entrepreneurship & Entrepreneurs | Scoop.it

With the an estimated 150,000 new websites and 7.3 million new pages added to the Internet every day, the biggest challenge for every entrepreneur is to get found, and get some credibility for a new startup. I can attest from experience that publishing a regular blog to properly showcase your offering, even before you have it, is a most cost effective approach in time and money.

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What investors want to see in entrepreneurs? Tips from an angel investor

What investors want to see in entrepreneurs? Tips from an angel investor | Entrepreneurship & Entrepreneurs | Scoop.it

When a startup takes off, industry watchers note the company’s core offering, and many attribute its success solely to the founder(s) having a great idea. Investors rarely see it that way. For venture capitalists and angel financiers, a smart investment starts not only with a stellar concept but a smart, entrepreneurial team as well.

 

Here’s how discerning VCs recognize promising founders:

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Connected-Conversations.com's curator insight, April 14, 2013 3:04 PM

Love these tips from an angel investor, start-up entrepreneurs should understand that being too early to market is as dangerous as being too late, understand the customer’s problem and how to solve it, have a trustworthy style, and can plan for tomorrow and for five years down the road.

Connected-Conversations.com's comment, April 14, 2013 3:11 PM
Especially love this tip: Rebellious start-up #entrepreneurs should start the business with a founding team where one partner embodies the rebellion and the other embodies the necessary structure and hierarchy.
Nikolas Daras's comment, April 15, 2013 8:15 AM
Generally speaking investors want to see complementary skills and bipolarities in startups' teams; technical+functional, scientific+market, developer+marketeer, logic+ instinct. @ Connected-Conversations.com: thanks for your comments.
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Ideas are like children... most of them are horrible: how to validate

Ideas are like children... most of them are horrible: how to validate | Entrepreneurship & Entrepreneurs | Scoop.it
If some ideas are nice, and some ideas are horrible, how could you possibly know which one you’ve given birth to? Here are five questions to ask yourself...

 

 

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The Most Effective Strategies for Success

The Most Effective Strategies for Success | Entrepreneurship & Entrepreneurs | Scoop.it
Based on thousands of diagnostics, we're starting to know what really works.
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One of the Biggest Mistakes Enterprise Startups Make | TechCrunch

One of the Biggest Mistakes Enterprise Startups Make | TechCrunch | Entrepreneurship & Entrepreneurs | Scoop.it

The era of VCs investing in successful consumer Internet startups such as eBay led to a belief system that seemed to permeate many enterprise software startups that hiring sales or implementation people was a bad thing.

 

“We want low-touch or zero-touch businesses” was the mantra.

 

I believe it’s flawed.

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34 Must-Have Tools to Launch your Startup from Idea to Exit

34 Must-Have Tools to Launch your Startup from Idea to Exit | Entrepreneurship & Entrepreneurs | Scoop.it

I’ve launched half a dozen or so startup products in my career and in the process I’ve picked up my list of favorite tools to make each step easier, faster, and cheaper.  Below are the sites and services I’ve had success with while launching startups.  Depending on your skills and experience, you won’t need them all, but I hope some of these tools can help expedite your path to success.

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Startup DNA

Startup DNA: the formula behind successful startups in Silicon Valley. These are my personal observations on a few traits that make startups successful. 
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