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Starting a business is not as easy as it might seem on the surface—and launching a startup can be even more challenging! This is because a majority of entrepreneurs have little to no earlier experiences in the business world. Save for an awesome idea, there are other things to consider—like recruitment, finance, legal issues, management, and so on.

We’ve all heard that that 9 out of 10 startups fail, but what are these stats based on? The Huffington Post claims that 95% of startups fail—Does that mean that almost all new businesses fail? I hope not.

However, not all statistics are discouraging. According to the US Bureau of Labor Statistics—over 55% of all newly-created businesses cross a 5-year threshold. Small Business Administration (SB...

Starting a company is incredibly exciting. There’s an amazing sensation the comes along with creating something and sharing it with the world. It’s even better when lots of people are using your product and gaining value from it. What’s not great is when all those feelings and happy product users don’t turn into a viable business. That’s exactly what happened to us.

In 2012, my business partner, Keith, and I started a company called Applits.com. We were best friends from high school and both studying mechanical engineering as sophomores in college. We really didn’t want to do the whole internship thing or work in a big company. That’s also the summer Instagram sold to Facebook for a $1 billion. We kind of looked at each other and sai...

Yes, I am sure that you have already encountered this use case when buying the last iPhone 7 and you have to login on every app you have on your phone…

And, sometimes (often), you don’t remember the password you chose ages ago, and you have to click on “I forgot my password”, I am sure you feel dumb to click on it, and you are right to feel like this..because you are 🙂

Actually, did you know that password management company exists? They can store all your passwords securely? Have you ever heard of 1password, Dashlane or LastPass? Personally, I use 1password that allows me to have as much passwords as I want to keep my online life secured. It is encrypted and is everywhere when I need it (on all my Macs, on a Chrome plugin and on my iPhone)...

It’s a common locker room scene: Before the big game, the team scrutinizes video of its upcoming opponent, trying to suss out the other team’s biggest strengths and weaknesses. Companies analyze their competitors, too, but they rarely turn that same analytical eye inward. That’s a mistake.

Why? Because, quite frankly, your company’s weaknesses can do far more damage than your competitors, and your strengths are reminders that you have the capacity to improve in other areas.

Think of it this way: How can you contrast your organization with another if you have no idea what value you bring to the table or where you stand? It’s time for an internal audit.

Evaluating Your Company in 3 Steps

Step 1: Conduct a Thorough Internal Assessment

Conduct...

If you’re going to create a great product that people love — and maybe even pay for — then you have to know your customer. And the best way to get to know your customer? Market research.

Market research is essential for any company, from tiny startups to massive corporations, but you have to do it right for it to work.

SO WHAT DOES GOOD MARKET RESEARCH LOOK LIKE?

What steps are involved? Well, it starts with an organized and thorough market research process.

1. Define Your Goals

The very first step to conducting great market research is defining your goals. What do you want to learn from this research? What questions are you answering? In order to get the most useful information, you’re going to want to develop defined research or a hypot...

There has never been a better time to build an online retail business. For one, shopping landscapes are becoming more fragmented. What that means is that big conglomerates are in danger of losing customers.

And where are those consumers going?

They’re headed to places like Etsy, eBay, Amazon, and independent, new-to-market ventures that offer unique, personalized value propositions.

In the coming years, economic researchers expect e-commerce fragmentation to increase in momentum—which means that if you’ve ever dreamed of launching your own e-commerce store, the time to start is now. Fragmentation means lower barriers to getting started and an increased ability to reach customers who will love your store. The market dynamics, opening doors ...

Question: How important is the personal brand of your key hires? What do you look out for (bad or good)?

Authenticity

“I am transparent with people from day one and what we do matters to our clients. I can’t afford to work with people who are contrived, pretentious or interested in company politics. In an entrepreneurial environment, you have to lay it all on the line. If your team doesn’t always tell you the truth, your business won’t last.”

— Scott Petinga
The Scott Petinga Group
@scottpetinga

Adaptability and Enthusiasm

“When hiring people, I always recognize those who have diverse and interesting resumes/past experience. Young companies that are still in the process of growing need employees who are q...

Part of planning for your startup’s success is finding the right working space for your team and your clients. Property’s expensive, and leases are binding; when you’re in a rapid-growth phase, how can you predict your office needs a year or two from now?

Maybe you’ll add two new team members — will they need offices? If you plan to add a new department in the next 18 months, will you need larger meeting rooms? If you want to attract top talent, will your office environment appeal to them?

Business owners and founders of growing companies face a practical dilemma when it comes to office space. There is no such thing as a perfect lease for a company that is growing fast. Getting the space right is vital to the health and development of your ...

If Product A & B are identical, what could cause Product A to sell 5x more than Product B?

I love button up short sleeve shirts, I usually buy them at $15-$30. I came across one I loved, but it costs a whopping $85! How can one mimic their bold pricing positioning to become a premium brand vs. a mid-range brand?

Randy Tucker, Startup Founder, answered:

Purchase decisions are made based on presentation and then need. The same products presented in different methods will sell drastically different. Think about this, shirt A & B are identical, Shirt A is presented in a comfortable nice store with a well dressed sales person and Shirt B is neatly folded and laid out in a street vendors trunk. At the same price, shirt A will sell better...

Why the hell would anyone quit a stable, successful, six-figure job at a global company? A job where you work with fun, intelligent colleagues, get heated covered parking (crucial in Chicago), and can travel the world almost any day you choose. A career that helps support a family, pays the mortgage, and still leaves a few bucks left over for all the protein bars you can eat. You’d have to be an idiot, right?!

Hi — I’m Dennis. Your typical idiot entrepreneur.

My sources of motivation: family, friends, sports, and a startup. (Dennis Timpanaro)

Truth is, some days I do feel like a real dumb dumb for starting my own business. Those days I tend to focus on my shortcomings and failures. I vividly relive getting cut at the Olympic Trials, being ...