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Let's All Work On The Last Startup We'll Ever Do


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8 years ago I decided that whatever startup I was going to launch would be the last startup I ever did.

I made this decision after launching 8 startups and realizing that creating a company as a "means to an end" was a shitty way for me to live.

I found myself in this constant cycle of being wildly preoccupied by "the next thing." Raising money for my startup was a means to a quicker exit. Killing myself meant I could finish this chapter faster, more successfully.

I had endless justifications for compromising my life because I could always "make it up later."

But what if there was no "later"?

This time around I decided to change it up.

I asked myself, "What if I picked what I wanted to do for the rest of my life NOW?" So instead of maki...



Article

What Should We Teach Kids About Startups?


  

Imagine what would happen if we spent as much time trying to teach kids to become entrepreneurs as we did trying to get them to prepare for the SATs?

Let's remember that a disproportionate amount of our academic focus is around a series of standardized tests designed in an era where homogenizing the workforce was our number one goal (side note: it worked).

Now our goal is the polar opposite: differentiating our workforce. The only way our kids will succeed is if they can stand apart from others and chart their own course.

That's the essence of entrepreneurship, and it's something we can absolutely teach.

Why should we start with kids as entrepreneurs?

Kids are natural entrepreneurs.

They possess the most powerful skill any of us can have...



Article

How Do I "Buy Out" An Equity Holder Fairly?


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Getting equity back from an existing stakeholder isn't easy — but it is possible.

It's a situation that very few Founders have ever been through before, so no one really knows how to go about it. Let's talk a bit about how the situation develops and what we can do to get some of that precious equity back into our coffers.

Remember, Equity is a Promise of Payment

More than anything, equity isn't just a stock issuance. It's a promise that at some future point that stock will be worth cash money — maybe.

When we think about pulling the equity back, we have to think in terms of how to redeem that promise of payment in some capacity. It's not just a matter of "taking it away" per se, it's a matter of trading the terms of the initial agreement ...



Article

Will Investors Fund a "Small" Business?


  

Funding doesn't make a lot of sense to first time Founders. In our minds, we think, "Hey, investors want to make money, so if my startup can make money, who cares how big it gets?"

Unfortunately, that thinking overlooks one big fact: that for every one investor check out there, there are hundreds of startups competing for it.

In order to understand how investors look at one deal versus another, we first have to understand how investors look at deals in the first place.

Investors Need Big Returns

There's no absolute rule here, but investor behavior generally follows a consistent trend. Most "professional" investors (people who invest consistently) gravitate toward investments that can yield an exponential return, such as an IPO.

The think...



Article

Does Having a Diverse Team Really Matter?


  

When it comes to building a startup, you are who you hire. Not only do the people you bring onto your team determine the direction and destiny of your product; they also shape what it will be like to come to work every day. So as you get started on the process of “who” your startup is going to be, we want to make sure you’re thinking about something major: team diversity.

What is team diversity?

Team diversity refers to differences between members of startup team. Those differences can include demographic differences (like age, race, sex, ethnicity), personality (extrovert, introvert, and differing Myers-Briggs types) and functional (as in skill sets, like engineering, design, copywriting, and marketing).

Types of diversity

When we think a...



Article

What Problems DO Just Go Away With Time?


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Every Founder feels like their startup must be the one company that is a total shit show compared to how those other startups must be running.

We believe that if we can just get past this next set of challenges, things will finally be smooth sailing.

What we don't realize, especially if we've never done this before, is that the problems never really go away. It's just a never-ending "whack-a-mole" game with different problems.

Problems Don't Go Away — They Just Change Names

When we're small and scrappy, our problems are all about survival. How are we going to meet payroll? How are we going to land that one early investor?

They feel weighty and life-threatening — and to be fair, they are. But those formative years are stressful in the wa...



Article

How Do I Design My Startup Around My Life?


  

Building a startup that drives our lifestyle choices is incredibly hard, no matter what that care-free Founder's Instagram might suggest.

In order to make our startups work around our lifestyle, we have to make a deliberate choice to bend the fabric of reality to meet our demands.

It's crazy hard. But it can actually be done.

It Starts With Strong Commitments

The foundation for having a startup that supports our dream lifestyles is making really strong commitments to those lifestyle choices. For example, if we're parents and we want to make sure we never miss our kid's soccer game, we have to publicly make that commitment and stick to it.

Sometimes just announcing those commitments is a great way to get the ball rolling. When we launched...



Article

Everything You Need To Know About Pitching Investors


  

The investor pitch. It's feared. It's desired. It's terrifying.

But don't worry: We've got you covered. Here's everything you need to know about that all-important investor pitch.

What should your investor pitch include?

Invisu.me Co-Founder and CEO Donna Griffit is a master pitcher who has helped countless founders distill their pitch down to exactly what they need — and nothing they don’t. She had the opportunity to sit in on a private pitching event where a delegation of startups had the opportunity give a five minute pitch and receive direct feedback from a group of top-tier Silicon Valley VC’s. (So top tier that she can’t even say who was there but, trust us, you will want to memorize this section before your next pitch.)

Here’s what ...



Article

Is a $0 Founder Salary a Badge of Honor?


Wil SchroterFounder + CEO of Startups.com

  

There's a weird discussion around Founder compensation, especially when the number is a big fat zero. We read about famous Founders from Google, Facebook, and Tesla taking $1 salaries, while earning millions in stock.

For early-stage Founders, we often can't get paid (so it's not much of choice!) but there's also this presumption that if we're forgoing personal compensation to roll all the profits back into the company, then we must be really committed.

It Buys Us Nothing

There's no argument out there that Founders shouldn't be paid, so taking compensation to zero is just a silly move.

The only time Founders or execs get the stink eye is when they take inordinate salaries compared to the rest of the staff or relative to the stage of the ...



Article

How to Get the Best Auto Insurance Quote for Your Startup


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Shopping for personal auto insurance can be a pain, and it only gets more difficult when you’re shopping for your business. It’s almost like playing a game of chess against Bobby Fischer: No matter what you do or say, you still feel like you’re going to lose.

So how can you make it easier? When researching auto insurance options for your business, the first road you should take is one you’ve already been down. Start by investigating the provider you currently use for personal home, auto, and general business liability insurance.

Providers love to offer discounted monthly premiums to people who bundle accounts with them, and while commercial and consumer auto policies are two completely different animals, most companies provide both.

Get add...



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