8 Surprising Startup Lessons: What You Don’t Know You Don’t Know

first_imgHow to Meet the Demands of the Socially Conscio… It takes more than a big idea and a thorough business plan to start a new business. Most entrepreneurs aren’t quite sure what else it takes until they’re well underway, and many are shocked to discover important elements of startup success that they simply hadn’t considered at all.To find out what startups learn they really need but never though of, we asked eight successful young entrepreneurs from the Young Entrepreneur Council (YEC) for their input. The results may surprise you as much as it did these startup founders: 1. AdaptabilityDuring the early days of our startup, we were bringing on people with very specific experiences and skill sets who had previously worked at larger organizations that were more structured and reliable. We soon realized that a better fit for us was to hire employees who were highly adaptable and open to – and able to – constantly change their roles and responsibilities depending on the needs of the business. The people who thrived and really made a significant impact to the success of our startup were those who could evolve and roll with the punches. They were comfortable with the relative lack of stability that you typically experience at a startup as it begins to ramp up. – Ben Rubenstein, Yodle 2. The Ability To Say “No”Many startups focus intensely on growth—sometimes to a fault. When I dove into real estate, I found myself exploring and experimenting with every possible revenue-generating activity. At the time I thought I was being thorough and productive, but I was really straining our company’s resources and physically draining myself. While it’s extremely important to experiment, every company should have a clearly identified core focus and mission. This helps you analyze opportunities that arise along the way and decline those that aren’t best aligned with your goals. It took me a while to realize it, but saying “no” is equally as important as green-lighting certain initiatives. The most productive, and ironically, sustainably innovative businesses I know are also very good at saying “no.” —Kent Healy, The Uncommon Life 3. LogisticsAfter raising our angel round of funding, my company decided to greatly increase our marketing and advertising spend. We sponsored 11 conferences throughout the year in major cities across the US. I tried to organize everything myself, but scheduling flights, hotels, car rentals and sponsorship passes was an absolute nightmare for me. Luckily, the account manager on my team was very organized and loved logistics. He took the lead and turned my nightmare into a happy dream. I focused on closing client deals while our new logistics and operations manager took care of all of the logistics. —Jun Loayza, Tour Woo 4. ImplementationThere’s no shortage of great ideas and vision in the excitement of a startup, but without implementation, it falls flat! Having a team in place and members who excel at follow-through and implementation is key to taking the vision and putting it into action. Most entrepreneurs are quick starters and big dreamers, so details become tedious and bothersome. If you’re not strong at follow-through, partner with a business manager or create automated systems that ensure things get done! —Kelly Azeved, She’s Got Systems 5. Avoiding Growth For Growth’s SakeWhen my partner Lev and I grew InsuranceAgents.com to #24 on the Inc. 500, we did it by growing for growth’s sake, not smart growth. Any revenue-generating opportunity we came across, we automatically said, “Yes!” The end result was a massive collapse of the company in 2009. However, through sheer effort and tons of luck, we managed to save it at the last second. Lesson learned: never grow for growth’s sake. It’s critical to slow down, take a deep breath, and ask yourself if your company can honestly support the strain that comes along with that new revenue stream. —Seth Kravitz, Technori 6. Time ManagementI know, it sounds boring. But as an entrepreneur, you are naturally dealing with limited resources, and you need to maximize your productivity. Specifically, you need to prioritize your activities so you are focusing your time, money and energy on activities that will bring you closer to your goals. If you don’t have a system for managing your time effectively, youíre squandering your most precious resource. If you want some great productivity tips, check out the book, No B.S. Time Management for Entrepreneurs by Dan Kennedy. —Pete Kennedy, Main Street ROI 7. Sales Is For EveryoneWhen starting a business, it is quite easy to put different hats on your team—“I will be sales, you lead our tech, she’ll be marketing and he’ll be in charge of operations and administration.” The reality of startup life is that everyone needs to build skills in selling the idea. This does not mean that each employee should treat every person they meet as an opportunity for a cash transaction. However, when you are involved in a startup, every person you meet might be of value, whether as a customer, adviser, partner or simply a brand advocate. Knowing your idea and being able to discuss it clearly and passionately will help the business uncover critical resources from everywhere. Every team member’s informal development plan should include a goal of improving communication and sales. —Aaron Schwartz, Modify Watches 8. Don’t Ignore Your HealthThis might sound silly, but hydration is super important to keep my mind strong while in startup mode. We are all attached to our desks, cranking away on computers, and in business meetings. When do we have time to drink water? I’m serious—sometimes our health is ignored in our business, but in fact it enables our personal and business health. Stay hydrated! —Erica Dhawan, Erica Dhawan Inc. and GalahadsThe Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: How to Rebuild Our Economy and Put Young Americans Back to Work (for Good), a book of 30+ proven solutions to help end youth unemployment. Tags:#start#startups How to Cultivate the Skill of Being a Creative … Related Posts center_img AI Will Empower Leaders, Not Replace Them How Connected Communities Can Bolster Your Busi… scott gerberlast_img read more

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Indian rugby team hopeful of win at CWG

first_imgRanked near the bottom among rugby sevens playing nations, the Indian team are rank outsiders at a top class field in the Commonwealth Games but the home squad is gearing up to prove that they can compete at the highest level.Indian rugby team is keen to do well against its stronger opponents.Grouped with Wales, South Africa and Tonga, the Indian ruggers have little chance to go beyond the preliminary league round but nonetheless are looking to give their more fancied rivals a run for their money in front of the home crowd.The Indian team is high on confidence after their recent title triumphs in Istanbul (Istanbul 7s) and England (Bee’s International 7s)–against some of the best club sides in Europe, Middle East and Asia–and a tour to New Zealand in the build-up to the Commonwealth Games.Skipper Nasser Hussain sought to see the positive side and said they would not be overawed by their fancied opponents.He is rather upbeat that his side has got the chance to measure their strength against the best in the world.”The top 10 Rugby teams of the world are from Commonwealth countries. So the field is really going to be strong. But we are ready for the challenges and looking for some great rugby action in front of the home crowd,” Hussain said.”Commonwealth Games will bring the best out of all of us. Teams like New Zealand, South Africa, England and others have superior understanding of the game and that shows in their rankings. We all know as a team that there is still a long way to go for us. But we are looking forward to test ourselves against the best in the world. Who knows we can have an upset or two,” said Hussain.advertisement”Recent title triumphs in Istanbul and England have boosted our confidence.”Wales and South Africa are formidable sides and it would be quite a herculean task to beat them. But we expect to beat Tonga,” said Hussain.last_img read more

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‘There are no cowards in La Salle’: Lady Spikers show title pedigree in bounce back win

first_imgThe Lady Spikers lost to the Lady Maroons, 25-16, 26-24, 25-19, on Sunday in what was one of the defending champions’ sloppiest games so far when they had more errors, 37, than attack points, 28.With such an ugly loss, the Lady Spikers made a promise to themselves that they would bounce back and show that they’re still the reigning queens of the league.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsLa Salle easily dismantled National University, 25-20, 25-18, 25-10, on Wednesday at Filoil Flying V Center in a game that showed the pedigree of the 11-time champion.“We’re in La Salle and there are no cowards in La Salle,” said rookie star Jolina Dela Cruz in Filipino. “Coach [Ramil De Jesus] always reminds us of that and we just brought that spirit.” Cayetano: Senate, Drilon to be blamed for SEA Games mess MANILA, Philippines—De La Salle wasn’t going to let a three-set loss to University of the Philippines stop its momentum in the UAAP Season 81 women’s volleyball tournament.ADVERTISEMENT Dela Cruz is La Salle’s leading scorer with a total of 96 points after the game against the Lady Bulldogs but she wasn’t immune to De Jesus’ constant, and sometimes intense, lecturing.There were several times during timeouts that De Jesus would focus directly on Dela Cruz when he was conveying a message but the rookie was unfazed with the iconic coach’s intensity.“I just listened to him,” said Dela Cruz who had seven points against NU. “He always tells me to follow the game plan and follow his instructions so I won’t get lost on the floor.”ADVERTISEMENT Don’t miss out on the latest news and information. Colombia protesters vow new strike after talks hit snag MOST READ Panelo: Duterte ‘angry’ with SEA Games hosting hassles Google Philippines names new country director LATEST STORIEScenter_img View comments Goran Dragic, Luka Doncic put on a show for Slovenia Private companies step in to help SEA Games hosting Trump tells impeachment jokes at annual turkey pardon event Wintry storm delivers US travel woes before Thanksgiving Bloomberg: US would benefit from more, not fewer, immigrants Sports Related Videospowered by AdSparcRead Next PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krausslast_img read more

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Teekay Tankers in Share Buyback Move

first_imgzoom Bermuda-based shipping company Teekay Tankers has announced a share repurchase program for the buyback of up to USD 45 million of the company’s shares. “During this period of weaker tanker rates, one of our key priorities remains strengthening our balance sheet by further reducing financial leverage and increasing liquidity,” Kevin Mackay, Teekay Tankers’ President and CEO, explained.“This program is being put in place as another lever to create shareholder value, allowing us to opportunistically take advantage of dislocations in the capital markets when we have excess capital,” Mackay added.As explained, shares may be repurchased in the open market at times and prices considered appropriate by the company. The timing of any purchases and the exact number of shares to be purchased under the program will be dependent on market conditions and other factors.What is more, Teekay Tankers has entered into a voting and support agreement with the company’s second largest shareholder after Teekay Corporation, Huber Capital Management. Under the deal, Huber Capital will vote its shares in favor of increasing the authorized number of Teekay Tankers’ Class A common shares at an upcoming special meeting of shareholders. This will permit the issuance of Class A common shares as consideration to complete the company’s proposed merger with Tanker Investments Ltd.Teekay Tankers currently owns a fleet of 39 double-hull tankers, including 20 Suezmax tankers, 12 Aframax tankers, and seven Long Range 2 (LR2) product tankers, and has three contracted time charter-in vessels. The company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture.In addition, Teekay Tankers owns a ship-to-ship transfer business and a minority interest of over 11 percent in Tanker Investments, which currently owns a fleet of 18 modern tankers and in which Teekay Tankers has agreed to acquire the remaining ownership interest.last_img read more

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CDB Annual Meeting in TCI Integration Trade Growth

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Related Items:#CDB47annualmeeting, #intergrationtradeandgrowth, #magneticmedianews Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, May 22, 2017 – Providenciales – The Caribbean Development Bank and its key members are in town and based on the agenda, there are some serious and potentially trans-formative discussions set to take place at this 47th annual session.  The CDB meeting agenda outlines topics designed to stave off weak economic growth in the Caribbean… consideration of how climate change will and is already impacting the region, what is really at risk…  how we can and must boost productivity within our countries… can we find something other than tourism as an economic driver… and getting to the nitty gritty of what may be wrong with the model for attracting foreign direct investment.  The meeting, where some 500 international delegates are expected to attend actually got started since yesterday with meetings largely headquartered at the Gus Lightbourne Gym.   Though the 47th AGM was originally announced by the former TCI government administration through then Finance Minister, Hon Washington Misick; chair of the sessions is recently elected Premier and new finance Minister, Hon Sharlene Robinson who extended welcome and said she anticipates the fruitful dialogue among regional colleagues which should see participants leaving feeling revitalized.  President of the CDB, Dr Warren Smith said the sessions are geared to reexamination so that “Members exploit their synergies and maximize the benefits of the regional agreement, while moving closer to the goal of inclusive growth and shared prosperity.”    The meetings is being held in the TCI for the second time with the 2017 theme being, “Integration, Trade & Growth.”#MagneticMediaNews#CDB47annualmeeting#intergrationtradeandgrowth Recommended for you CDB Annual Meeting in TCI:  Integration, Trade & Growthlast_img read more

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Rock Island Arsenal Fabricates White House Fence Spikes

first_img Dan Cohen AUTHOR Spikes now being installed on the White House fence to enhance security were manufactured at Rock Island Arsenal’s Joint Manufacturing and Technology Center.The “removable anti-climb feature consisting of sharp metal points” was designed by the U.S. Secret Service. Rock Island Arsenal, located on the Mississippi River between Iowa and Illinois, is the Army’s only full-scale metal manufacturer. Personnel from the Joint Manufacturing and Technology Center began helping to install the spikes last week. The work should be finished next month.The security enhancements are intended only as a temporary measure; the Secret Service and the National Park Service are developing a long-term design solution. The modifications are a response to an incident last year in which a man carrying a knife scaled the White House fence, ran across the North Lawn and entered the residence before being tackled by a Secret Service officer.To see the fencing being installed, watch a video from the Washington Post.last_img read more

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Back to School Festival for Baltimore County Students

first_imgKevin LilesKevin Liles’ For A Better Baltimore Foundation is sponsoring a Back to School Festival, noon to 4 p.m., at Security Square Mall in Baltimore County with the hopes of helping children focus on preparing for a new school year.The event, co-hosted by BCPS Superintendent Dr. Dallas Dance and Baltimore County Executive Kevin Kamenetz will feature educational games, free backpacks and school supplies, as well as live entertainment and free immunizations. This third annual Back to School Festival is an opportunity for school children of all ages to celebrate and prepare for the arrival of the new school year, which begins Aug. 27.The traditionally well-attended festival is open to all county students and will include a variety of community resources and children’s activities, as well as several surprise celebrity guests.For more information, visit http://www.lilesforbaltimore.org/.last_img read more

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