Top 20 Threats to Startup Success (Infographic)
You put everything into your business: your time, your talents, your money — whatever it takes to make your startup a success. But you’re all too familiar with the scary statistics: half of all new businesses fail within the first five years, and for every successful entrepreneur, there are plenty who wish things had turned out differently. If only you could ask them what they’d change if they could go back in time — or what they learned from their experiences. Well you’re in luck: this infographic collects research by CB Insights to distill 101 startup postmortems into the 20 most common reasons new businesses fail. Get priceless advice on how to make your business a success—and what to watch out for—straight from the founders themselves. Source: Lance Surety Bonds Set Your Business Up for Success If you’re an entrepreneur (or thinking of becoming one) check out our other startup resources, then start a free trial of Wrike to get your business running efficiently and boost your bottom line.
Anatomy of a Tech Startup Team (Infographic)
There is no such thing as a one-size-fits-all blueprint for a successful tech startup team. As most founders are well aware, good hiring is a lot more complicated than simply plugging people into a cookie cutter org chart. But blindly guessing which positions you need isn't exactly a stellar hiring strategy, either. Having a general idea of the roles and responsibilities you should cover as you scale can help you build a balanced team with all the talents you need. Use our new infographic as a guide to hire key roles for your growing tech startup: Share this infographic with other tech startup founders using this embed code:
VCs Foresee a Bleak Future for Startups? (Work Management Roundup)
Welcome back to the weekly Work Management Roundup, where we collect and curate the latest articles on productivity, business, and work. This week, we're looking into the future of work. We lead off with eight VCs foretelling the future of startups. Then we follow up with six trends that will affect how work will be done a few years from now. Read on!
What Are The Most Outrageous Startup Perks?
Catered meals, in-office massages, free afternoon yoga classes... Cushy employee perks are a famous part of startup culture, especially in the tech industry of Silicon Valley. If you're a founder looking to hire your first employees (or you're just curious about how other organizations create and sustain a unique company culture) check out the latest chatter on the craziest startup perks, which are employee favorites, and whether they actually matter when it comes to attracting and retaining top talent. (You might be surprised at the answers!) Silicon Valley's Craziest Startup Perks $500 weekly drawings, laser tag, paid sabbaticals, and more killer employee perks 10 tons of snow? Office slip 'n slides? Why startups prioritize fun at the office From arcade rooms to ball pits: how successful startups mix work and play The most unique perks (including a custom painting of yourself as a dragon slayer) Employees at these famous tech companies get $2,000/year to take their paid vacations. dog-friendly offices, access to Lego play sets and trampoline parks, and so much more On-site car washes, haircuts, laundry, massages, live concerts, and other perks that help employees manage life outside of work Which Corporate Perks Foster Company Culture & Attract Talent Which perks are actually most popular with employees? Which perks are considered standard, which are great, and which are over-the-top amazing? Morning surfing lessons, daily dog walkers, and other unique startup perks that attract the right talent How smaller companies are turning to personalized perks to compete with tech giants How to bring Silicon Valley's perks to your own office Are Employee Perks Really Worth the Hype? How companies benefit from offering their employees perks What's the actual monetary value of all those perks to employees (and employers)? The downside to providing perks (yes, there is a downside... but for whom?) The million dollar question: do perks actually work? Follow the DroneCo Comic for More Startup Fun Browse previous episodes of Welcome to DroneCo in the comic archive, then subscribe to the strip to get each new episode. Click here to follow DroneCo on Twitter to keep up with the startup craziness all week long! Share this comic on your own site with this embed code: Webcomic brought to you by Wrike
Startup Launch Checklist: 22 Steps to Success (Infographic)
Starting a business is an exciting idea, but pretty daunting when it comes down to logistics. If you're stumped on where to start when it comes to launching your startup, check out our latest infographic for a step-by-step roadmap on how to go from concept to thriving business. Share this infographic with fellow founders with this embed code: Infographic brought to you by Wrike Read next: 30 Startup Founders Share Their Entrepreneurship Advice 2015’s Hottest Industries for Tech Startups Dos and Don’ts of the Startup Pitch: Expert Advice from 5 Famous Investors
31 Quotes About Launching a Startup (Infographic)
Launching a startup is no walk in the park. Once you decide to follow your dreams, it's a long marathon to success. Luckily, you're not the first person to take on the challenge. Read these inspirational quotes from well-known founders and CEOs for actionable startup launch advice. They cover everything from finding your niche to the most dreaded topic: money matters. Want to inspire other startup founders and hopefuls? Share this infographic on your blog using our embed code: Infographic brought to you by Wrike Let us know which quotes fired you up in the comments below. And if you have other inspirational quotes that you turn to when launching a startup seems like a race you'll never win, share those too! Related Reads: 30 Startup Founders Share Their Entrepreneurship Advice Launch Your Startup in 22 Steps (Checklist + Resources) Dos and Don'ts of the Startup Pitch: Expert Advice from 5 Famous Investors 3 Ways Bootstrapping Strengthens Your Startup: Advice from GoPro
10 Best U.S. States for Launching Your Software Startup (Infographic)
If you’re ready to found a software startup, you might think a move to Silicon Valley is inevitable for your organization's success. But soaring rental rates and a high cost of living may make you and your team wary of picking up and moving to the Bay Area. Luckily, San Francisco isn’t the only place you can find venture capital, an entrepreneurial culture, and opportunities to grow. This infographic shows hubs of innovation sprouting up all over the nation. Take a look at where software startups and other fledgling businesses are thriving: Top 10 U.S. States for Entrepreneurs (and VC dollars raised) California ($3.27 billion) Massachusetts ($798 million) New York ($648 million) Washington ($279 million) Texas ($213 million) New Jersey ($174 million) Arizona ($145 million) Illinois ($144 million) Colorado ($142 million) Pennsylvania ($105 million) Take a look at the full infographic to find out which industries are claiming the most VC dollars in these top 10 states, the major players in cities across the US, and the average age and working hours for entrepreneurs in four big cities. Source: Intuit Read next: 7 Ways to Fund Your Startup The Ultimate List of Legal Resources for Startups Top 10 Reasons Startups Fail
Launch Your Startup in 22 Steps (Checklist + Resources)
It’s 3 AM and you’re staring at the ceiling yet again, absorbed in fantasies of developing your dream product and launching your very own business. If your idle thoughts automatically turn to prototypes and product designs, it’s time to start thinking seriously about founding your own company. But how do you turn an exciting idea into a functional, thriving business? Follow this step-by-step checklist to launch your startup and keep it running strong. Lay the Foundation Don't just chase the money; think about what makes you happy and what you're passionate about. What kind of life do you want to have? How will your business need to fit with your other responsibilities? Figure out your optimal work style and environment, what niche you want to target, your ideal business model and number of employees, and so on. Remember that doing what you love will bring out the best in you and your company! Step 1. Identify & Research Your Market. It doesn't matter how amazing your product is if no one's willing to pay for it.Read: 10 Hot Industries for Tech Startups in 2015; How to Determine of There's a Market for Your Business Idea Step 2. Design/Develop Your MVP. Create your Minimum Viable Product and determine initial pricing.Read: The Ultimate Guide to Minimum Viable Products; How to Price Your Products Step 3. Select a Business Structure. Sole proprietorship, partnership, LLC, corporation, non-profit...? Choose wisely, because the route you take will have legal and tax implications for your business.Read: Choose Your Business Structure Step 4. Write a Business Plan. Include how your product addresses a specific need, how much money your business will need to make, your role in the company and any other members of your team, how you'll measure your success, and your exit strategy. Is your ultimate goal to launch franchises nationwide? To get acquired? To launch an IPO by a certain date?Read: 12 Steps to a Startup Business Plan (Infographic) Step 5. Pick a Name. Start thinking about your brand and how you want customers to perceive your company.Read: How to Choose the Best Name for Your Business; Free Logo Design Inspiration (eBook) Step 6. Protect Your Intellectual Property & Assets. Register any patents, trademarks, copyrights, confidentiality agreements, and your domain name.Read: 10 Ways to Protect Your Intellectual Property Find Advice & Support No matter how brilliant you are or how inventive your product is, you can't start or run a successful business single-handedly. You'll need to make strong connections and find supporters who can help you navigate the wild startup world. Step 7. Find a Co-Founder or Business Partner. The key isn't finding someone who thinks exactly the same way you do, but someone who complements your strengths and weaknesses.Read: How to Find the Perfect Co-Founder Step 8. Find a Mentor or Supportive Community. You'll need a network of people who can support you, offer advice, and commiserate with your struggles.Read: 18 Top Networking Sites for Startup Founders (Infographic); 30 Startup Founders Share Their Entrepreneurship Advice Get Funded You have the perfect product and a genius team behind you. Now you just need the fuel to get your company off the ground. But raising such a large amount of money can be intimidating to say the least, and it can be far too easy to say yes to whatever funds anyone happens to offer you. Think very carefully about who you partner with financially and make sure it's a good fit! Step 9. Decide the Right Funding Type for You. Bootstrapping, crowdfunding, business loans, VCs, Angel investors... weigh the advantages and disadvantages of different funding types before you decide which option to pursue.Read: 7 Ways to Fund Your Startup (Infographic); How 5 Famous Startups Got Funding Step 10. Research & Identify Compatible Investors. Find out what opportunities each individual is typically interested in, so you can speak to those interests during your pitch. And remember, investors aren't just a source of capital — they're valuable business partners who can advise you on strategy and tactics.Read: Research Your Potential VCs Step 10b. Research & Identify the Best Crowdfunding Platform. Not going the investor route? Or do you also want to lean on crowdfunding for your success? Compare each platform's fees, crowdfunding model, niche audience, and visibility before choosing.Read: Definitive Guide to Crowdfunding Sites (Infographic) Step 11. Create Your Pitch Deck. Whether you're pitching Angel investors and VC firms, potential crowdfunding backers, or your parents, you'll need a compelling presentation to get people as excited about your company as you are.Read: Dos and Don'ts of the Startup Pitch: Expert Advice from 5 Famous Investors; Perfecting Your Startup Pitch Deck: 3 Essential Links Tackle Logistics The pieces of your new company are falling into place. Now you've got to make it official, and that means a lot of paperwork. Between registering with the IRS, getting your legal documents in order, and setting up your bookkeeping, there are a ton of details to cover. Follow these steps to make sure all your bases are covered. Step 12. Find Your Support Team. You'll need to find a lawyer, open a business bank account, take out insurance, and may want to hire an accountant or realtor as well. Make sure whomever you hire has experience working with entrepreneurs and understands their needs.Read: When to Hire a Bookkeeper or Accountant; The Ultimate List of Legal Resources for Startups Step 13. Make it Official. Register your business name, get an Employer Identification Number, and acquire the necessary business permits & licenses.Read: How to Register Your Small Business in Five Steps Step 14. Become a Real Boss. Workplace safety regulations, Equality Act compliance, disability resources, work authorization for non-US citizens, and more: understand all the details of your legal obligations towards your employees.Read: US Department of Labor Employment Law Guide; US Small Business Administration Guide to Hiring Your First Employee Hire Your Team The quality of your people ultimately equals the quality of your business and your product, so take your time and find the right mix of talents and personalities. And most of all, find people who are just as passionate about your industry and customers as you are. Step 15. Build a Great Team. Don’t just stop at hiring great people — make sure the culture and perks are in place to keep them around. Whether it’s gym memberships, free lunches, or flexible hours, ask your team what they want and then find ways to recognize and support them.Read: 5 Effective Hiring Tips for Early-Stage Startups; Company Culture: Why it Matters and How to Get it Right Step 16. Find an Office. Once you outgrow your garage, you'll need an official office space for your thriving team.Read: How to Know Your Startup is Ready for an Office; How to Find the Right Office Space Market & Sell Now that you've laid the groundwork, it’s time to get the word out! With so many other products competing for your customers' attention, you'll need to find an effective marketing strategy to cut through the noise and distinguish yourself from competitors. Step 17. Establish Your Brand. What is your company about? What sets you apart from competitors, and how will you communicate that to customers to earn their loyalty? Think about personality and purpose when crafting your brand.Read: 10 Ways to Build a Brand for Your Small Business Step 18. Research & Create Detailed Customer Personas. How old are your target customers? How much money do they make? Where do they live? What do they do for fun? What are their daily habits? What media outlets command their attention, and who influences their decisions?Read: Template: How to Create a Buyer Persona and Journey Step 19. Create a Strategy. How will you engage your audience? Experiment with different ways of reaching your target customers and capturing their attention.Read: Two Weeks to a Startup: Develop Your Marketing Plan Make Success Sustainable You've built something incredible, even if it feels like it's all held together with popsicle sticks and duct tape. Now you need to help it grow and thrive. Beware of growing too large too quickly, or you'll stretch yourself and your resources too thin. But being too conservative is risky too, since you chance missing out on a once-in-a-lifetime opportunity. Step 20. Learn from Others' Mistakes. If you're thinking of launching a business, you're probably well aware of the scary stats surrounding business failure. One of the best ways to keep your startup growing strong is to identify the biggest threats to your business.Read: 10 Reasons Startups Fail (Infographic) Step 21. Find Tools to Run Your Business. Startup life is chaotic, but the right tools can help you stay on top of all your work and make sure everything runs smoothly.Read: 25 Online Tools to Run Your Startup Step 22. Learn to Lead. You find yourself the head of an exciting new venture — but that doesn't mean leadership comes naturally to you. The decisions you make and the tone you set for your teams can make or break your company, so don't disregard soft skills and leadership tips as irrelevant or low-priority.Read: 7 Deadly Sins of Bad Startup Leaders; 15 Books All Managers Should Read Are you ready to take the leap? We've been there ourselves, so we know how exciting and challenging startup life can be. Read the Wrike story to find out how we overcame those typical startup hurdles. Happy founding! Sources: StartupNation.com
21 Thought Leaders Tweeting About #Startups
Creating and developing a successful startup is not all glitz, glamor, and magazine interviews. It's a lot of hard work and long nights producing something out of nothing. Thankfully, there are a lot of people who want budding entrepreneurs to succeed — and they're all writing tips and articles full of great advice. The problem now is: how do you find the best of the best to make sure your startup is heading in the right direction? With all of the information floating around out there, there is one go-to source for aggregated advice on creating a successful startup plan: Twitter. It's impossible to find and list all the great accounts you can follow — and we're not even going to try — but we'll give you a good starting place. Here are 21 startup movers and shakers we think you need in your feed to get great advice on following your dream idea, hiring the best team, and creating a successful startup business. (If we're missing your favorite startup thought leader, add your Tweetspirations in the comments!) Our Suggested Follows for #StartupAdvice on Twitter Individuals to Follow 1. Paul Graham — Co-founder of Y Combinator. Tweets startup news, often related to YC companies, and also shares articles and advice for startups and small businesses. Posts at a human pace, AKA as often as he sees fit; some days only twice, some days more than six times. 2. Jason Calacanis — Serial entrepreneur and investor. Founder of Weblogs Inc. and Open Angel Forum, among others. Follow him for entrepreneurship advice and business news. Fun fact: he has a dedicated (and well-earned) following of Jason fans. Seriously. His tweet frequency: He will certainly not leave your feed empty. What I learned running The LAUNCH Incubator for 12 weeks http://t.co/LQVQFIe9qR — jason (@Jason) March 12, 2015 3. Dave McClure — Founding partner at 500 Startups accelerator. He retweets a lot of successful startup news and articles about better business practices. Tweets frequently throughout the day. 4. Fred Wilson — Venture Capitalist. Mostly sharing links to good articles and interesting startup business information. Unlike most of the names on this list, he keeps his messages to a humble 1-2 tweets per day. 5. Charles Dixon — Investor, entrepreneur. The only news-centric tweeter included on this list, because Dixon tweets about startup news you should probably keep your eye on: drones, bitcoin, the growth of the tech industry, and a sprinkle of business humor to break up your too-serious Twitter feed. Shares articles throughout the day, all day, every day. 6. Sam Altman — If you're interested in startup investment, Sam Altman is your man. As president of Y Combinator, about 90% of his tweets deal with smart investing, bad investing, and companies that are doing well after recent investment. Tweet frequency: a few times per day, with days of productivity (i.e. no tweeting) in between. how to be successful: focus, choose a good market, believe in yourself, and learn to identify unproven talent — Sam Altman (@sama) March 11, 2015 7. Eric Knopf — Co-founder of his own company, he tweets advice for the human side of people behind successful companies: how to stay organized, motivation for the days when you aren't feeling it, and, of course, some tips for making your business boom. Tweet frequency: some days he's completely silent, other days he tweets over 10 times. 8. Martin Zwilling — A veteran in the startup field, he has great advice on what it takes to start a company and succeed. Only tweets a few times a day for a very manageable (not overwhelming) feed-filler. 9. Roy Povarchik — Startup mentor and growth hacker. Tweets good advice for all businesses, but especially useful information for companies just starting out. Tweet frequency: upwards of 5 times per day. 10. Omar Mohout — Entrepreneur turned startup mentor. Tweets advice for the best mindset, basic principles for successful startups, and shares educational resources like eBooks and webinars. Tweet frequency: daily (almost hourly), and occasionally in French. Why #Startups fail #96: The product doesn’t uniquely solve a big enough (no viable business) & frequent (no viable market) problem #GoTechEU — Omar Mohout (@omohout) March 11, 2015 11. Gordon Daugherty — Angel investor and startup mentor. Shares frequently about startup money matters and advice for growing your customer base. Tweets once a day, if at all. 12. Alex Turnbull — Startup founder and CEO at Groove. Shares incredibly helpful, insightful posts from his company's blog (mostly related to their business success), as well as quotes and products he enjoys. Full of great advice for any new entrepreneur. He's also known to pose questions he actually wants answered — a rare treat. Tweet frequency: a handful of times per week. Businesses to Follow 13. 500 Startups — Startup accelerator program spreading startup news and trends to help you build a relevant, talked-about business. Tweet frequency: multiple times per day, almost every day. 14. Y Combinator — Popular startup incubator in the Bay Area. Their Twitter account shares startup success stories and advice articles. Tweet frequency: a few times per day, but has been known to sleep on slow news days. The 1st episode of Startup School Radio with @harris is on SiriusXM's Business Radio right now! First guest is reddit's @alexisohanian. — Y Combinator (@ycombinator) March 11, 2015 15. OPEN Forum — The Q&A site run by American Express, their Twitter account shares popular articles and Q&As from their site with tips on popular tools used to run startups, social media, customer relationships, and more. Only tweets 1-2 times per day. Nothing too overwhelming. 16. Idealab — Startup accelerator tweeting startup stories and business advice. They dish out tips on everything from sales to customer success. Tweet frequency: multiple times throughout the day. 17. The Lean Startup — Foundation of the Lean Startup movement. Tweets cool talks and articles about things every startup needs to care about, especially if they're trying to run lean. Tweet frequency: at least 5 times per day, 7 days per week. On how to say no without burning bridges, from @HarvardBiz. http://t.co/Ug4ccJ1iZm — The Lean Startup (@leanstartup) March 2, 2015 18. Upstart Business — An online business journal that shares startup news, mostly from their own site. Tweet frequency: sharing articles at all hours of the day, every day. 19. Bplans — Business blog featuring tips and tricks for entrepreneurs and small businesses. Tweet frequency: anywhere from one to "blow-up-your-feed" times per day. 20. Bootstrappers.io — Online community of business bootstrappers sharing articles on everything from getting your first customer to the best startup office locations. Tweet frequency: 2-3 times a day. 21. Entrepreneur Quotes — Motivational quotes for entrepreneurs. It's a good place to get a reality check or a kick in the right direction when you feel like the entire world is against you. Tweet frequency: 1-2 times per day. Add them to your feed! Want to add all these accounts to your Twitter feed? Subscribe to our "Startup Thought Leaders" Twitter list! Who are your favorite startup thought leaders on Twitter? Share your inspirations with us in the comments, and we'll check them out and add them to our Twitter list!
Startups: How to Do PR, Find Investors, & Deal with Failure (Work Management Roundup)
Welcome back to the weekly Work Management Roundup, where we bring you the best reads from around the web on productivity, work, and management. This week, we shine a spotlight on startups: how to do PR before you launch, how to find investors, what to ask job candidates, and even how to deal with failure. Read on! 10 PR Strategies to Follow When Launching a Startup (Pressfarm): You don't just launch on the day itself, you need to prepare weeks before. This article walks you through 10 steps to do BEFORE the official birth of your startup. This Is Why So Many Entrepreneurs Can’t Find Investors (Fortune): In this opinion piece by Wrike CEO Andrew Filev, he argues that startups should move away from asking for investors in order to finance their product development. Instead, new companies should bootstrap until their product gains an audience and some traction before seeking funding. We Got 10 CEOs to Tell Us Their One Killer Interview Question for New Hires (Quartz): While some of these questions resemble the eternal favorite "Where do you see yourself in five years?", there are a few that are unique. Whether you're searching or hiring, it's a good idea to take a look at what these CEOs consider the killer question that reveals the most about job candidates. Treat Failure Like a Scientist (James Clear): With each experiment a scientist does, every failure becomes a data point that eventually leads to the right answer. Therefore, when failure comes, instead of sobbing in the pouring rain, roll up your sleeves and try again. The Quarter of a Trillion Dollar App Bonfire (Medium): When 80% of the 1.2 million apps in the App store are considered "zombie apps" because they have so few users, it prompts the question: how did there get to be so many? The simplest answer: developers built their apps without first figuring out if there was a real audience for their product. A team is united when it sees the same vision. Anant Mediratta, CEO & Founder of WiseCalvin says: “Get your team on the same page, aiming for the same goal. Sit down with the team and explain your short- and long-term goal, and be open to their suggestions. Discuss how you have planned to hit those goals, and then assign each of them their respective work.” #wrike Copy and paste the URL into your browser to read the full blog post: ------->>>>>>> http://bit.ly/18TeamTips A photo posted by Wrike (@wriketeam) on Feb 24, 2016 at 7:19am PST More Work Management Reads Think About This: Why I Quit Google Inbox (Medium) E-Commerce: Convenience Built on a Mountain of Cardboard (The New York Times) How People Learn to Become Resilient (The New Yorker) Go Try This: 7 Tips for Getting More Responses to Your Emails (With Data!) (Boomerang) How to Build the Perfect Team (Slideshare) How To Market YouTube Videos More Effectively (Small Business Trends) Browse The Work Management Roundup on Flipboard If you use Flipboard on your mobile device, you can check out these links (and more!) via The Work Management Roundup magazine. View my Flipboard Magazine.
11 "Internet of Things" Startups to Watch (Infographic)
It's poised to become the largest device market in the world. One research group estimates that by 2019, it will be more than double the size of the smartphone, PC, tablet, connected car, and wearable markets combined. Samsung even pledged a funding pool of more than $100 million for startups that want to help build the South Korean manufacturer's vision of an entirely open ecosystem for these Net-enabled devices, so that they all speak the same language. We're talking about the Internet of Things (IoT) — a term referring to consumer devices, appliances, and services that connect to networks to send and receive data. When you use your mobile device to access a remote wifi security camera you've installed in your home, you're using IoT. Brands like Nest thermostats and Dropcam wifi cameras (both now acquired by Google), or Jawbone and the entire wearable devices industry are IoT. And there are several hundred more companies in the space. We took a look at eight of the hottest, most interesting, most buzzed-about IoT startups, plus 3 established brands to compile this infographic of companies we think will make it big in 2015. Like our infographic? Share it easily using our embed code: Infographic brought to you byWrike Do you agree with our predictions? Or are there other IoT startups you feel are more poised for success this year? Hit the comments and speak your mind.