Top Ten Nibletz Posts 11/8

Nailed it!  My picture is a perfect 10!

Yup. It’s Friday again. The big news in the tech world, of course, is Twitter’s flawless IPO. Evan Williams made $1.48 billion yesterday. Just stop and think about that for a minute. One guy made $1.48 BILLION yesterday. Do you think he had McDonald’s for dinner?

Things were just a tad quieter over here at Nibletz. We aren’t making billions of dollars, but we are making some great plans for the future. Stay tuned in the coming weeks for announcements about our conferences, new contributors, and other exciting stuff. We are doubling down on our commitment to startups everywhere else, and we can’t wait to tell the stories of awesome companies around the country.

We had some great stories this week. We talked to the guys behind the next fitness wristband and learned about robotics. There were also some great tips, like disciplines that build a great company culture and the legal steps founders should take care of right away. And, for some laughs, we read up on the real meanings of some of our favorite buzzwords.

Did you miss something? No worries. Here are our favorite posts of the week for your Friday reading pleasure:

Atlas Demos The Next Fitness Band At Techstars Austin

The Founder’s Dictionary: Buzzwords For Every Entrepreneur

5 Resources For The Startup Newbie

The Biggest Deal In Shark Tank History Comes Just In Time For Halloween

The 4 Disciplines Of Great Company Culture

13 Reasons This Is The Best Time To Be An Entrepreneur

11 Ways Mentors Are Essential To Your Success

5 Legal Steps Founders Should Take Right Now

3 Steps To Building A Strong Network

PointDrive Makes Online Presentations Worthwhile

 

Freelancing? Let Motiv Handle The Boring Stuff

motiv

When the financial system imploded in 2008, many people found themselves suddenly without a job. What do you do when you’re unemployed and have no prospects?

Freelance, of course! It’s no longer uncommon to find freelance designers, developers, writers, photographers, and so on. Some estimates believe a full 40% of Americans will be freelancers by 2020.

However, when you think about the professions that lend themselves to freelancing, they’re all creative. And creative people don’t necessarily love the parts of the business that require detailed systems. Lead generation, pitching and proposals, invoicing, and payments can all be overwhelming to a lot of freelancing professionals.

As a former freelancer, I was super excited to hear about Motiv, a web app that handles all those things for you. As I looked around the site, I was even more enthused. All those necessary (boring!) parts of freelancing have a home and a system already built in. While there are plenty of programs that tackle a certain task–like invoicing–there’s nothing that combines the whole back office into one place.

It’s one of those solutions that is so simple, you can’t believe it’s not already a thing.

Founder Dylan Feltus told us all about Motiv:

What’s your startup called?

Our startup’s name is Motiv! Pronounced like “motive.”

What does your company do?

Motiv is a proposal and contract application specifically for freelancing professionals across all creative industries. Freelancers have the ability to create proposals and contracts in just minutes with professional templates and unique content specific to their niche. Motiv also has an invoicing system that allows for easy payments.

Who are the founders and what are their backgrounds?

The Founder of Motiv is Dylan Feltus; a young freelance Web Designer who saw firsthand the struggle freelancers face when creating proposals and contracts

Where are you based?

Motiv is based out of sunny Sarasota, Florida!

What’s the startup scene like where you are based?

While there aren’t many startups, we love the overall energy that Sarasota has. Everyone is open and always interested in hearing new ideas. It’s a fun place to be!

What problem do you solve?

We solve a problem every freelancer faces; having to spend a significant amount of time preparing proposals for potential jobs and preparing legal contracts hoping they’ve done enough to cover themselves. Motiv solves both of these problems by cutting proposal creation in half and potentially more with saved proposal sections. Our contracts are created by professionals and specific to the freelancer’s niche.

Why Now?

There’s never a better time than the present and as more and more professionals take the plunge from leaving the day to day grind of corporate life and head into the freelancing world – arming them with the right tools from the start is critical.

What are some of the milestones we’ve already reached?

We’ve recently celebrated the launch of our software to the general public! It’s been a crazy ride and we’ve loved every minute of it.

What are our next milestones?

With a successful site launch under our belt, we look to expand and offer native iOS and Android mobile apps for freelancers on the go. In addition to a mobile app, we soon plan to offer a White Label feature and a more comprehensive billing section that includes tools like time and expense trackers.

Where can people find out more? Any social links?

Please head to our main site to watch our video and learn more about the startup at: www.motivapp.com
Google+:
https://plus.google.com/u/0/b/117438423875028817136/117438423875028817136/posts
Twitter: https://twitter.com/Motiv_App
Instagram: http://instagram.com/motivapp_
Facebook: https://www.facebook.com/motivapplication

3 Best Practices For Startup Hiring

hiringIt’s really hard to teach someone how to hire, how to manage, and how to lead. Like many things, it’s usually best to learn on the job, practice, and improve after making a lot of mistakes along the way. The problem is, as a startup, you can’t afford to make a lot of mistakes when hiring. You also can’t afford to wait too long to hire when the business is scaling quickly.

I thought I’d share my top three best practices when making a first hire (and in some cases, any hire). As a caveat, this is coming from a first-time entrepreneur, who has never directly hired anyone in the past, and generally believes in the goodness of man/woman.

  1. For a senior hire, hire someone with experience. For a junior hire, hire the smartest person you can find. If you’re lucky, find someone who has smarts and experience. Our first hire was someone who actually had retail/online/consumer experience. This is something that I have had for exactly 2.5 years (since the company was founded). My co-founder and I knew what we were good at, but also knew our weaknesses. It was critical for us to find a person that could bring all the industry expertise and knowledge we could no longer fake. Our first intern (and eventual hire) was someone with exactly zero work experience. She was willing to work in whatever role we needed her for that particular day. She is also very smart. Although her role has changed over time, she was exactly the utility player every startup needs.
  2. Take your time. Every single person we have eventually hired, including our first employee, has gone through a trial period with us before joining full time. This is not always possible, especially for a hyper-growth company. The point is that you want to take your time with your first critical hires. The people who don’t agree or understand this philosophy are  people you don’t want to hire. People truly passionate about a company in its early stages and truly passionate about filling a role for that company will be patient and understand the reason for a “trial period.” It’s not because you think they are mediocre or not the best possible candidate. It’s because when people believe in something, they’re willing to fight for it. That goes both ways, and is important to understand.
  3. Fit is as important if not more important than anything else. Startups equal tight quarters, big personalities, too much to do, and too little time. If you have a virus in the mix, it can be devastating to a startup’s success — whether it’s a bad case of the chicken pox or a bad teammate. Find people you like to work with, because you are going to be spending more time with them than your girlfriends, boyfriends, wives, husbands, friends, and so on. Everyone does not have to be identical or like the same things. That can be a problem as well. Instead, they should fit together like a jigsaw puzzle — as complementary sides that work as a whole.

Side note: I have no clue if chicken pox is caused by a virus, but I thought it had a nice ring to it and I will check Wikipedia shortly.

The theme here is to hire with caution. New hires (and especially your first hire) can make or break your company. It should not be taken lightly. Building a team is one of the most important things you can do as a founder. If you’re good at it, it might be all you do one day. If you have the slightest sense that your first key employees are not going to get the job done or do not have the fortitude to survive a startup environment, cut your ties and fire fast. Personal relationships are the most important things I have in my life. But as a founder, I understand that I am running a business. It is bigger than myself. I have investors, customers, vendors, and suppliers to worry about. If something is not working out, fire, rinse, repeat, and build until you get it right.

This post originally appeared on The Huffington Post.

Raaja Nemani is Co-Founder and CEO of BucketFeet, a Chicago-based e-commerce company that creates artist-designed footwear. Raaja’s international travels—which include a trek through the Himalayas and a dive with great white sharks—inspired him to launch BucketFeet with co-founder Aaron Firestein in 2011, as a platform to celebrate artists from all over the world. Now selling in over 10 countries, Bucketfeet has built an artist network of 1,000 artists from over 30 countries. Raaja injects his love of design and global community into BucketFeet’s mission, which aims to find a different artist to design every pair of shoes and provide consumers original footwear that stands out and tells a story.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

Top 10 Fundraising Fails (Infographic)

 

There are a lot of startups these days. With the explosion of accelerators, more and more companies secure seed funding, which helps them build out their products and business models. After that initial small investment is done, though, it’s time to raise the real money.

We all know this song and dance: raising capital is hard. It’s hard no matter who you are or what your company is doing. (Well, okay. If Mark Zuckerberg ever wanted to start another company, he probably wouldn’t hurt for investors.)

For most of us, though, raising funds is hard work. So, it’s probably a good idea for founders not to make rookie mistakes that will hurt their chances even more. How does the rookie founder avoid rookie mistakes, you ask?

The Founder Institute, an early stage accelerator, developed this infographic to outline some of those mistakes. The number 10 mistake is failing to use charts and graphs in your presentation. While this seems like such an unimportant detail, the rise of–well–infographics shows us that visually displaying data is important. In the case of investors, who may be unfamiliar with your industry, these charts and graphs can help them easily grasp your points.

Another mistake is not connecting the financials to your story. This happens a lot in demo day presentations. A founder is humming right along, drawing the audience in with a compelling story. Then, boom, out of nowhere they’re talking money. Weaving that information into your story is crucial to keeping everyone engaged.

The number one rookie fundraising mistake? Projecting $1 billion in revenue for year 5. Founders throw out big numbers like this because they think investors like to hear it. Investors do like big numbers, but they also prefer projections to be somewhat realistic. To put it in perspective, eight years after founding Twitter has yet to reach $1 billion in revenue. Facebook did it in 6 years. Google did it in 5 years, but if you’re the next Google, fundraising shouldn’t be too difficult anyway.

Check out the infographic for the whole top 10 fundraising fails:

 

12 Tips For Pitching The Press

Old newspaper

QUESTION: NAME ONE TIP FOR PITCHING A MEDIA OUTLET ON AN ENTREPRENEURIAL VENTURE.

PITCH THE STORY TOO

“Journalists love to tell a story, so pitch them your startup story rather than just telling them about what your product is. Make it colorful and interesting so they can easily see how this would translate into a compelling piece for them to write.”

– Stephanie Kaplan | Co-Founder, CEO and Editor-in-Chief, Her Campus Media
TIE IN A HOT TREND

“The best thing to do when pitching media is to tie in your current pitch idea with a topic that is already hot in the media. Media outlets want to get the most viewership possible, so they like to ride popular stories as long as they can. This tactic especially works when you can tie a celebrity into your story – my most popular post was “5 things LeBron James can teach us about entrepreneurship.””

– Lawrence Watkins | Founder & CEO, Great Black Speakers
INCORPORATE THE NUMBERS

“Business is a lot of numbers, so including numbers (revenue, profit, employees, etc.) is always helpful for a pitch. When we pitch Back to the Roots, we always mention the impact we have on coffee waste by saying “on track to divert 3.6 million pounds.” When quantifying the story, the pitch, idea, and the significance become clear for the journalist. It’s easy for them to skim over in a hurry.”

– Alejandro Velez | Co-Founder, Back to the Roots
HELP THEM HELP YOU

“When pitching to a media outlet, try to find something relevant in your business that the outlet is passionate about or they may have been discussed in the past. Helping them create new content — with a little sprinkle of your own business — will help establish a relationship and help open doors for future/better opportunities.”

– Angela Pan | Owner/Photographer, Angela B Pan Photography
DO RESEARCH, BE PERSONAL

“Working in media has taught me the importance of personalization. A few targeted pitches to the right people, using their names and addressing how your product/service fits within their specific outlet will get you much further than a mass pitch sent to every email address you can get your hands on.”

– Alexis Wolfer | Founder/CEO, The Beauty Bean
BECOME AN AUTHORITY

“Some of the best-received content that we’ve had published has been in response to changes in our industry and hot topics in the news. A good way to secure a media placement is to reference a current event, trend, or statistic that affects your business and detailing how your company is developing or changing as a result.”

– Eric Corl | President + Co-Founder, Fundable LLC
FACTS TELL, STORIES SELL

“The media exists to tell compelling stories, not to provide free advertising for a business. Think of your business as a TV series and create multiple story arcs. Do you have a quirky startup story? Are you piggybacking on or revolutionizing a trend? Make a list of 10 or 15 story angles for your venture, then match each one to its most appropriate media target.”

– Melissa Cassera | President and CEO, Cassera Communications
THEY’RE PEOPLE TOO!

“Sometimes, people forget they’re pitching a real person, not just a “media outlet.” This journalist is a person, with tight deadlines, frustrations, and an overflowing inbox, just like the rest of us. Follow that journalist on Twitter: What time does he usually publish stories? Why would he care about your business or story? You want to be a convenience, not just another spam email.”

– Alexander Torrenegra | Co-founder, VoiceBunny
HAVE CELEBRITIES USE YOUR PRODUCTS

“Nothing has made pitching to media outlets easier for me than being able to say that influential celebrities support our work — particularly if the celeb is willing to go on record for a quick quote or interview. Media outlets want to know that their article, if published online, will collect good traffic, and they know that celebs drive this traffic better than anyone else in the world.”

– Shaun King | Founder & CEO, HopeMob
BE FRIENDS ALREADY!

“Nothing works better for pitching a media outlet than already having a pre-existing relationship with an editor or writer there. So don’t wait for a reason, make some friends for friendship’s sake!”

– Derek Flanzraich | CEO and Founder, Greatist
DO SOMETHING CRAZY

“You read about it all the time: someone puts themselves on the line with some kind of stunt, and everyone starts talking about it. What is something that you can do that would have the press all over you and want to talk to you about? Be creative and don’t hold back — and you will get your PR.”

KEEP IT SHORT

“Don’t send a long email. Journalists are pressed for time and have little to no patience. Keep it short and to the point to boost your chance for being successful in the pitch.”

– Ben Lang | Founder, Mapped In Israel

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

Photo Credit

11 Ways Mentors Are Essential To Your Success

YEC-MentorQUESTION: WHAT IMPORTANCE WOULD YOU PLACE ON HAVING A MENTOR IN BUSINESS AND IN LIFE?

FOLLOW THE PARALLEL PATH

“Having a business and life mentor is not only important, it’s essential. Entrepreneurs are very close to our business and a mentor is someone who can see things from a distant and different perspective. A key to success is surrounding yourself with people who are further along the life and career path than you are; just remember to choose mentors who are going in a direction you aspire to go.”

YOUR PROBLEMS AREN’T NEW

“The best thing for me about having a great mentor is that I always have someone to remind me that my challenges are not new. At our lowest points, we are susceptible to think that no one has every been through our pains. Mentors are there to help us snap out of it and stay focused on achieving business and personal success. Also, hearing how the mentor handled situations acts as a guide for me.”

– Lawrence Watkins | Founder & CEO, Great Black Speakers
A PIECE OF PERSPECTIVE

“A mentor is so valuable for giving you the much needed perspective that we tend to lose in life and business. By reminding us how far we’ve come and that these challenges can be overcome, mentors can boost confidence, redirect our paths and help celebrate big wins.”

IT’S AN INVALUABLE INVESTMENT

“My mentors have provided me with more guidance, strategies, insight and connections than all other resources I’ve been exposed to combined. Finding the right mentor who is truly interested in your success and your goals is one of the most powerful things you’ll ever do as an entrepreneur.”

– Travis Steffen | Founder, WorkoutBOX
TAKE THE ULTIMATE SHORTCUT

“Experience may be the best teacher, but your mentor’s experience is the best teacher of all. That’s because getting the right mentor is like taking the ultimate shortcut. You can learn from their mistakes without repeating them yourself, and you can model your actions based on their successful formula.”

– Pete Kennedy | Co-Founder and Managing Partner, Main Street ROI
LEARN FROM OTHERS’ MISTAKES

“Having trusted mentors for your business and life allow you to learn from others’ mistakes instead of having to learn them on your own. Some mistakes are unavoidable (if only because we’re all too stubborn to learn from others sometimes!) but even a few avoided mistakes will save time, money and sanity.”

– Alexis Wolfer | Founder/CEO, The Beauty Bean
MENTORS AREN’T BUSINESS ADVISERS

“Every startup has formal and informal advisers, whether they’re professors, investors, partners, family or friends. As an entrepreneur, you will often have to make choices that are good for the business, but possibly bad for you. Most advisers focus on the company. It is critical that you find a personal mentor that has your best interests — not those of the company’s — in mind.”

– Aaron Schwartz | Founder and CEO, Modify Watches
ACCELERATE YOUR LEARNING CURVE

“By running a business while in college, having a mentor has taught me way more than any of my professors have ever. Granted, I didn’t pay much attention in class when I should, but there’s nothing that beats real world advice, perspective, and networks. All in all — get a mentor!”

– Kenny Nguyen | Founder/CEO, Big Fish Presentations
POSITIVELY BIASED POINT OF VIEW

“Someone who offers actionable advice and has a positively biased point of view, who really believes in you, is invaluable. Turning to a mentor often means the difference between giving up and moving forward. I don’t know if I could have achieved success without my mentors to challenge me, push me, and help me keep my eye on the ball.”

FIND YOUR OWN GANDALF!

“What would the LOTR hobbits have done without him? Think of yourself no differently. Those with wisdom in this world don’t have it to keep for themselves but to share with others, and all are grateful to do so. On this journey of entrepreneurship and this journey of life, the stakes are too high not to have someone to help guide our steps. Mentor: absolutely necessary. Long white beard: optional!”

– Luke Burgis | Director, ActivPrayer
WORK/LIFE GUIDANCE WORKS

“Find a mentor who has balanced life with business. Work/life balance is extremely important, and if a mentor can help you take a step back and look at the big picture, it can be one of the most valuable assets in life.”

 

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

5 Legal Steps Founders Should Take Right Now

01 (218)

Every founder’s dream is to see their company grow. But taking a business to the next level often requires seeking outside investment. To ensure that a company is prepared to receive investment, and to make use of the opportunities and challenges that growth creates, there are a number of crucial, yet often overlooked, legal steps to take. Here are five of them.

Chose the right legal entity.

The corporate structure you chose determines your company’s taxation, allocation of profits and losses, record-keeping requirements, and general structure. When incorporating your company you have several options. The most common include an LLC, S Corporation and C Corporation and your choice should depend on your goals and objectives. While your entity can be changed down the road, you can avoid this by working in close consultation with your lawyer and accountant from the get go. If you plan on seeking investment soon after starting your business, establishing a C Corporation at the outset may be the best option.

Put a founder’s agreement in place to guide internal affairs.

If you’re starting your company with another person or group of people, a founder’s agreement is absolutely essential. A founder’s agreement creates the framework of your partnership and governs the internal affairs of your company’s operations. Your agreement should outline the duties of the founders, key decision-making processes, as well as how disputes and unforeseen circumstances will be handled; however, before you go forward with these have an attorney from a law firm such as Legalzoom review the document before signing the agreement to ensure that everything is in order.

There are bound to be bumps in the road as your business grows, so it’s best to have a comprehensive document in place from the beginning that will govern how decisions will be made.

Have a good non-disclosure agreement.

Non-disclosure agreements (“NDA”) are critical to establish in any business relationship where confidential information may be shared. People who have access to your company’s confidential information must have defined standards about how they can use and access this information. Ensure the obligations of confidentiality extend beyond the term of the NDA, as this information is essential to the integrity of your business.

Protect your company’s “IP”.

The core of your business is your intellectual property or “IP.” As such, you must legally protect your property by filing the proper trademark, copyright or patent applications. This ensures that you have recourse to protect it, if infringement occurs. But not only should you be keeping these traditional protections in place; you need to ensure that you are contractually maintaining ownership rights over any intellectual property being created for your company by any outside contractors. These protections help you maintain the core of your business.

Make sure your documents are in order.

Anyone looking to invest in your company will conduct extensive due diligence. This will include looking over your company’s books and reviewing your corporate documents, agreements and contracts. They will want to know you have appropriate licenses, permits and reports, and that you are adhering to all existing contracts with employees and service providers. This will show potential investors that you are professional and free of potential legal obstacles.

Having your legal house in order ensures that your company is ready to take advantage of investment, to grow, and to handle the challenges that will arise. Think ahead and imagine where you want your company to be, and then make sure that you’re prepared to get there.

DISCLAIMER The content in this article is for informational purposes only and does not constitute legal advice. Readers should contact a qualified attorney to obtain advice with respect to any particular issue or problem.

Tricia Meyer is managing attorney of Meyer Law, a forward-thinking boutique law firm providing top-notch legal services to clients ranging from startups to mid-sized companies to large corporations in a variety of industries including technology, telecom, financial services, real estate, advertising, marketing, social media and healthcare. Learn more at MeyerLawGroup.com and follow us on Twitter @Tricia_Meyer or@Meyer_Law

Photo credit

14 Tips For Keeping Team Morale Up When Times Are Tough

Basketball Fans

QUESTION: WHAT ARE SOME TOP TIPS FOR KEEPING UP TEAM MORALE WHEN YOU’RE FACED WITH FAILURE OR FRUSTRATION?

LOOK AT FAMOUS FAILURES

“Michael Jordan, Steve Jobs, Donald Trump — they’ve all failed multiple times in their respective careers. Change your corporate mindset and teach employees that experiencing failure is the only way to succeed — it’s a healthy way to overcome the sting of post-failure frustration and strive toward success.”

– Melissa Cassera | President and CEO, Cassera Communications
DON’T APPEAR DEFEATED

“All entrepreneurs go through tough times during their maturation as business leaders. When faced with failure, the best thing that you can do as the leader is to keep an even keel and not get depressed. This is good for you and your team as well. It is hard to believe in a business if the owner doesn’t even believe that problems can be conquered. Therefore, keep your game face on with employees.”

– Lawrence Watkins | Founder & CEO, Great Black Speakers
BUILD A TOLERANCE FOR FAILURE

“Too many companies view failure as a weakness. Although too much failure can be fatal, becoming allergic to it is equally dangerous. Your team should know that failure following a solid effort and thorough strategy is nothing to be a shamed of. I like the mantra, “Fail quick; fail often.” Because no one can foretell the future, your team should understand that failure is part of progress. “

– Kent Healy | Founder and CEO, The Uncommon Life
FOCUS ON ACTION

“Once you recognize what went wrong, shift your energy and focus to resolving the problem, creating safeguards and identifying issues earlier. Nothing beats down morale faster than wallowing in the mistake. Instead, turn that frustration into an opportunity to do better next time. You’ll also set your team back on path and give them a goal to reach.”

BE OPEN AND HONEST

“A big mistake a lot of bosses make is that they try to shield everyone around them from the failure or disaster and handle it alone. The false thinking behind this is normally, “If I tell them something is seriously wrong, they might freak out and jump ship.” The reality almost always tends to be if you are open and honest about the situation, your team will rally around you to find a solution.”

– Seth Kravitz | CEO, Technori
REORGANIZE AND REGROUP

“We follow the saying that insanity is doing the same thing over and over again but expecting different results. When faced with failure, we take a step back and look at what works and what is bleeding. If need be, duties and responsibilities will change, standard procedures are modified, and even shifting around people’s desks helps liven things up and enhance communication between departments.”

– Justin Beck | Co-Founder and CEO, PerBlue
ESCAPE ON A TEAM OUTING

“When major failures occur, there’s often nothing that you can do in the short term. The most important goal during a time of significant frustration should be making sure that your team is intact, aligned and energized in order to bounce back. Taking the team bowling, out to a nice dinner or even on a short overnight trip to keep the good will and teamwork strong, which will help you persevere.”

– Aaron Schwartz | Founder and CEO, Modify Watches
FORESEE AND SHARE

“When times are tough, the worst thing you can do is try to hide the news. Let the team know there’s a rough patch ahead, but that you have faith in them and the business. Take time to answer questions and understand their concerns. They’re the ones who will help you through rough waters, so they deserve to know how the business is performing. You’ll find that most team members will rally to help!”

DON’T FOCUS ON THE FAILURE

“If you’re worried about a temporary failure affecting morale, then focus on the morale, not the failure. Fix the problem, but make sure your team is focused on what’s going well instead of what isn’t. Don’t let the first mistake lead to the second.”

DOCUMENT WHAT WENT WRONG

“Writing what went wrong on paper was a really good idea for us, as it laid out the big picture on our mistakes. By having a document on what went wrong, we can then fix our processes to prevent the mistake happening all over again. No matter what failure though, we always remind the team that greatness is remembered the most when dealing with trials and tribulations — not just success.”

– Kenny Nguyen | Founder/CEO, Big Fish Presentations
GO BACK TO BASICS

“Maintain a sense of humor, don’t point fingers, and never, ever cut the team-building portion of your budget. Most importantly, spend some reflecting on your core competencies and those things that got you to where you are. Then, do those things. Throwing a party might help everyone feel better for a night, but ultimately, you need to remind your team why they joined in the first place.”

– Luke Burgis | Director, ActivPrayer
MEET AND GENERATE IDEAS

“If you think about it, most people, whenever faced with issues either are in need to talk to family, friends, psychologist, etc. The times we’ve gone through failures or frustration, the thing we find most effective is talk, talk and talk. We talk to generate ideas, we talk to generate hope, and brainstorm until morale is back up and ready to go even harder.”

LOOK FOR AN EASY WIN

“If you’re facing a steady stream of frustration, it’s incredibly wearing. Just a small win — something that can give you a rush and maybe get some momentum going in the other direction — can help morale immensely. It doesn’t have to be particularly big, but it does need to be a clear success that requires some input from everyone on the team.”

GROWTH COMES FROM FAILURE

“Embrace failure. In fact, encourage your staff to fail regularly. Teach them not to look at failure as defeat but as a missed swing. If you don’t swing, you can’t ever hit the ball.”

– David Cohen | Vice President, Round Table Companies

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

Photo Credit

The 4 Disciplines of Great Company Culture

indyhall

The word “organization” and the word “organism” come from the same root word. Company culture bears many similarities to natural ecosystems. The way founders do business in the beginning of a startup are the seeds for what kind of company they will develop in two, five and ten years.

Whether you know it or not, the way you run your startup now is setting the stage for what is acceptable and what’s not in your budding organization. That’s what culture is: a natural outgrowth of the way early business owners choose to do things.

This also means that company culture is something that can be designed, just like a beautiful backyard. After you decide what “crop” you want later, plant the seeds for it. Set your goal and reverse-engineer it. Adopting this mentality provides some powerful instruction for how to work right now. Do you want a stressful, frenetic, unbalanced culture in five years? No? Then stop planting those seeds in your startup! Orange seeds do not grow into oak trees, nor do hectic company cultures grow into balanced ones.

If you want an energizing, productive, and astonishing company culture, there are four core disciplines you must “plant” in order to grow it:

STRENGTHS

When designing a company culture, the first “seed to plant” is a bold and unapologetic focus on people’s strengths. Every company I’ve seen that has a great culture contains this simple but often overlooked premise: focus more on what’s RIGHT with people than what’s WRONG with them.

When left to the path of least resistance, our social conditioning will drift us back towards a focus on making weaknesses less weak (think about every performance review you’ve ever had). But this method only leads to mediocrity, never greatness. If you want your company to do something exceptional, the only way to get there is by starting with strength.

ACTION ITEM: Start learning more about how to leverage strengths—remember, this does not come naturally. You can easily get started by reading a few books (Strengths Based LeadershipStretch: Leading Beyond Boundaries) and by taking a strengths assessment (StrengthscopeStrengthsFinder, etc.).

SIMPLICITY

Back in 2006, the new CEO of Nike, Mark Parker, had an interesting conversation with Steve Jobs. He asked Jobs if he had any advice for him as a new CEO. As you may suspect, Steve did. He told Mark that, while Nike certainly made a lot of good things, they also made a lot of “crap.” “Just get rid of the crappy stuff and focus on the good stuff,” he said.

A relentless obsession with simplicity is one of the things that makes Apple so unique. But how does this kind of focus happen? If you ask the senior team at Apple why they do business the way they do, they will give a rather fascinating response. Their culture is aligned to do one thing: make a better product. If they can’t make a product better, they simply refuse to do it. This continual re-centering on what I’d call a “noble cause” allows them a sense of focus and simplicity unmatched by many organizations.

ACTION ITEM: Discover, articulate, and filter everything through your organization’s noble cause. The marketplace is growing more crowded by the minute, and for a new company to succeed it must have a “noble cause” that allows employees to say NO to a thousand good things, so they can say YES to two or three great things.

SPACE

The best performers in the world — concert cellists or olympic athletes — all employ a remarkably strange and similar method: they create rhythmic cycles of intense performance and powerful renewal. They alternate between periods of extreme energy output and drastic energy rejuvenation.

In startups and small businesses, we do the first one very well (energy output) and all but ignore the second (energy renewal). Here’s the real kicker: not only is our current pace unsustainable over the long-term (thus the intense burnout we see in startups), but it’s also not helping us achieve our best in the short-term.

For many of us, this seed is the most difficult one to plant. As entrepreneurs/owners/leaders, we feel like we’re SUPPOSED TO be busy. What we repeatedly forget, though, is that busy-ness never equals output. “Pushing through” is not the best way to achieve greatness, whether we are delivering a product or designing a culture.

ACTION ITEM: Schedule rejuvenation. This time will probably look a bit different for each individual, based on their strengths. Put these times on your company calendar and be serious about sticking to them. If you don’t value renewal, I promise you that no one else will, either.

SYSTEM

In business, the term “system” encompasses a lot: recruiting, on-boarding, compensation, vacation, working hours, dress code, working locations, etc. Every single policy or procedure that touches people is either growing the culture you want or it is destroying it. It can never do both.

ACTION ITEM: Start asking, “Why do we do [recruiting/vacation/whatever] the way we do?” Find a few people in your company who truly care about creating a great place to work, and have a strategic conversation with them. Ensure thatevery single one is supporting an environment that leverages strengths, reinforces simplicity and creates space.

After all, if you’re going to be creating a culture, it may as well be an astonishingly great one!

Josh Allan Dykstra is a recognized thought leader on the future of work and company culture design whose articles and ideas have been featured by Fast Company, Business Insider, MSN.com, Under30CEO, and The Agency Post. He is a co-founder of Strengths Doctors, a consulting firm which helps leaders and entrepreneurs design energizing places to work. Connect with him online at joshallan.com.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

PointDrive Makes Online Presentations Worthwhile

pointdrive

Have you ever tried to make a sale via email alone? The initial emails might be simple enough, but when it’s time to send all those carefully crafted sales materials, email just doesn’t work. Your proposal could consist of video, Word documents, case studies, images, and other supporting information. All of these end up as attachments to the email, which causes several problems:

  • no way to know what the prospect opened
  • terrible user experience
  • limited branding opportunities

Chicago-based Bill Burnett had all these problems in mind when he and his team created PointDrive. Version 1.0 just launched at the Demo Fall 2013 event, and they are already signing up users.

The website is easy enough to use. On the top of your presentation page, you can include all your company branding materials and contact information. Then, you can drag and drop the materials you have already created–YouTube or Vimeo videos, images from Dropbox, Word documents or Excel spreadsheets. Basically, if you would send it as an attachment, you can include it in your PointDrive presentation. Videos even play in the presentation, so your target will not have to navigate away from your personalized page.

PointDrive could prove to be a great solution for startup founders. We all know investors are bombarded with information and emails from startups. PointDrive will give you the ability to send personalized, branded content to investors, which helps you stand out from the crowd. It will also cut down on all the time you spend attaching (or forgetting to attach) documents to emails.

After setting up your presentation, you can send an email to your prospect that includes a simple link the page. The PointDrive team is especially excited about their analytics features. After sending the presentation link, you will be able to see who downloaded a file or watched a video. You will be able to see which materials are hitting their target and which are uninteresting to your audience.

Across the board, we are relying on cloud productivity tools more and more. But most of those tools focus on customer relationships or project management. PointDrive strives to offer a better experience than email attachments for both the salesperson and the prospect. A branded presentation is more memorable than being 1 of 100 emails full of attachments.

Customers can sign up for free through the end of the year, and in 2014 PointDrive will roll out the Pro version of the product.

Should Startups Offer Unlimited Vacation Time?

Beach

QUESTION: SOME COMPANIES ARE PAYING PEOPLE TO TAKE VACATIONS (OR OFFERING UNLIMITED VACATION TIME). WOULD YOU DO THIS IN YOUR BUSINESS? WHY OR WHY NOT?

DON’T CREATE ENTITLEMENTS

“Lifestyle companies looking to implement liberal vacation policies should do so with some caution in order to mitigate their legal risks. The word “unlimited” invites trouble. Research “return on work” environments where generous vacation allotment is contingent upon job performance. This type of implementation ensures that time off is perceived as a reward and not an entitlement.”

– Christopher Kelly | Co-Founder, Principal, Convene

 

QUALITY VS. QUANTITY OF HOURS

“A lot of business now are virtual. It isn’t about where you are in the world, it’s about your commitment to your business. I believe it isn’t the amount of time you spend on a project, it’s about the quality of your work. If an employee feels as if they are more productive at home or somewhere else, by all means. Just get the work done.”

– Angela Pan | Owner/Photographer, Angela B Pan Photography
WHO’S ON YOUR TEARM?

“If you’ve got a team full of intelligent, self-motivated people working for you who truly enjoy doing what they do and achieving milestones, this can be a great strategy. If, however, you have a team made up of trained monkeys (or their human equivalent), your productivity will plummet.”

– Travis Steffen | Founder, WorkoutBOX
STRUCTURE IS STILL NEEDED

“I wouldn’t give people unlimited vacation time because it opens up a can of worms. Some people will take advantage of it more than others, which will cause resentment among the staff. I also wouldn’t pay people to take vacation. I think that most mature, sensible employees can manage a few days off at their discretion. If they can’t, then there’s a bigger problem that needs to be addressed.”

– Alexandra Levit | President and Founder, Inspiration at Work
TRUST YOUR TEAM

“We currently offer unlimited vacation time at my company. Since everyone works remotely, they’re able to do their work whenever is most convenient for them. As long as their work is completed, they’re able to take vacation days throughout the year – or work from wherever their travels take them.”

– Heather Huhman | Founder & President, Come Recommended
IT’S A TERRIBLE IDEA

“Startups are filled with hard workers that love what they do. Because of that, they’re prone to workaholism and burnout. By having unlimited vacation, you open up major problems. Bad employees will take too much time off, causing major culture/team issues. And good employees won’t take any time off — infinity and zero can be difficult to differentiate in the mind, and pressure says to take none.”

– Jason Evanish | Co-Founder, Greenhorn Connect
VALUE CREATED, NOT HOURS WORKED

“I build startups, not corporations. I therefore prefer to have no office space and a virtual team all over the country, and base performance on value-created, not hours-worked. My team understands they can take breaks or vacations whenever they want to, as long as they complete their objectives. It’s a challenge to hold people accountable only if they’re the wrong people.”

– Jun Loayza | President, Ecommerce Rules
IF I HAD THE MONEY, HECK YEAH

“I’m a big believer that rest and recovery, both mental and physical, makes for team members that aren’t just more happy, but also more creative and more efficient, too. Emphasizing and even incentivizing people to go on vacation, where they can really escape and re-group from crazy startup life, will only pay back in dividends.”

– Derek Flanzraich | CEO and Founder, Greatist
TRY EMPLOYEE VOLUNTEERISM

“Working for a startup employees often work around the clock and at times can need more work. While our business was developing, some employees found they didn’t have enough full-time work. In order to provide them with a consistent full-time salary, we decided to pay them to volunteer to make up for the missing hours. Supporting paid volunteer hours has built morale and developed a cool culture.”

– Jason Jannati | Co-Founder, greeNEWit
VACATIONS DEMONSTRATES RESPONSIBILITY

“At Her Campus, we don’t have a set number of vacation days for employees per year. Everyone is expected to work their hardest and do their best possible job at their job, and we leave it up to them how much vacation time they want to take. This way, employees feel control over their own schedules and recognize that they are valued by the results of their work rather than by the hours put in.”

– Stephanie Kaplan | Co-Founder, CEO and Editor-in-Chief, Her Campus Media
BALANCE IS KEY

“It’s a great model if you balance it with performance measures and guidelines. Employees have to be accountable to perform and should be rewarded when they work hard to get things done quickly. If it’s all about performance, they’ll hold each other accountable, both on taking too much vacation and on not taking enough.”

– Susan Strayer LaMotte | Founder & Principal Consultant, exaqueo
POTENTIALLY A DISASTER

“Zappos pays certain people to leave after finishing their training program. This makes sense. Paying people to take vacation time does not. Businesses pay for productivity, not for vacations. In the short run, employing this type of policy may be good for publicity and promoting a cool company culture, but it’s a disaster in the long run. A great culture can co-exist with structure.”

– Luke Burgis | Director, ActivPrayer
IT MEANS MORE PRODUCTIVITY

“We do offer unlimited vacations. We want to foster a culture of trust and responsibility. The more flexibility you give employees, the more responsible they feel. Instead of counting hours or vacation time accrued, they work hard and stay late when they need to and then take a break to recharge when they need to. The company and the employee both benefit.”

TRY FLEX TIME INSTEAD

“I think vacation time is incredibly important, but even more so, flexible time. If you allow the people working for you to do what’s important to them, such as attending a family event, going to the doctor, surfing, or taking a class, and then make up the hours at other times, they don’t typically need unlimited vacation.”

– Elizabeth Saunders | Founder & CEO, Real Life E®
 HAPPY LIFE MEANS HAPPY EMPLOYEES

“Work-life balance is increasingly important in today’s fast-paced environment. I believe that travel and taking time off are essential to make sure that employees are happy and focused at work.”

– Abby Ross | Co-Founder & VP Operations, ThinkCERCA

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

5 Resources For The Startup Newbie

Startup Live Vienna

When you first start out in any new endeavor, it can be hard to learn the ropes. The startup world is no different, even with so many preaching the openness of entrepreneurship.

You probably thought you just had a great idea for an app, right? Startup newbies rarely realize that with the launch of their new business, they are also entering a whole new world, with new norms and vocabulary.

At Nibletz, we believe that anyone with determination can be a great founder, but we also know that the learning curve can be tough. Educating yourself on the ins and outs of startup life will help, and here are some of the resources we recommend:

1. Mixergy

Without a doubt the most comprehensive source of entrepreneurial advice out there. Founder Andrew Warner interviews entrepreneurs and investors from every sector, and several of them also teach courses in certain skills such as SEO and design. There are tons of great founders who share their expertise and experience, but Andrew is the definitely the secret to Mixergy’s effectiveness. In every interview he’s so very interested in what the founder is saying that you know he’s learning right along with you.

The premium membership to Mixergy is $25/month and well worth it. The Nibletz team has learned so much from site, we know how membership pays for itself.

2. Mattermark

Mattermark is technically a big data tool for investors. They track startups on a number of points including number of employees, monthly uniques on the website, and funding over time. Then they assign a score that gives a hint about a startup’s health and viability.

That’s all for investors, and Mattermark charges for those Pro services. The startup newbie doesn’t need all that. However, the Mattermark daily newsletter is one of the richest sources of information on what’s happening in the startup world. The newsletters often have a little blurb written by the Mattermark team based on their data, but after that is a long list of links to some of the best articles that week. They include top investors like Fred Wilson and interesting articles from a variety of tech publications.

3. CrunchBase

CrunchBase is a free database of the startup world. It lists founders, companies, and investors, and anyone can edit it. This is a good place to find great companies and learn a little more about individual players in your space. The homepage features a “Trending” tab and an “In the News” tab.

If you’re learning about funding, the CrunchBase Daily is a good newsletter to sign up for. Each day they send out a list of companies that have closed rounds and how much the rounds were.  CrunchBase isn’t the same wealth of information the previous two are, but it’s a good way to begin to understand how the pieces fit together.

4. CB Insights

CB Insights is another “data for investors” tool. Their paid tools offer analytics and data to investors who are watching the trends. This is helpful for investors who invest over a wide range of industries begin to understand different areas.

However, like Mattermark, they have a free newsletter that can be very informative for the startup newbie. Focusing on the investment field, the newsletter links to articles on the site that will help founders understand the way investment dollars seem to be going. There are some articles only available to paying customers, but the free ones are enough to begin to understand some trends and terms.

5. Steve Blank

Yup, the first four resources are companies, but number 5 is just a single person. But, after 21 years in several high tech companies, and more years researching and teaching entrepreneurship, Steve Blank is a resource all by himself. His website has lists of tools and resources for every stage of startup life. He also lists several startup books worth reading, as well as his own research on Silicon Valley.

Check out the slides and videos page for some great interviews and presentations from Blank.

It can be hard to be the new kid, but startup world really isn’t as confusing as it might seem at first. If you’re looking to learn and understand the landscape, check out the resources above for advice, tips, and trends. And don’t forget to keep coming back to Nibletz.

12 Ways To Improve Low-Tech Industries With High-Tech Solutions

'Pen and Paper' photo (c) 2009, Ramunas Geciauskas - license: http://creativecommons.org/licenses/by/2.0/

QUESTION: WHAT ADVICE WOULD YOU GIVE AN ENTREPRENEUR WHO WANTS TO USE A HIGH-TECH OFFERING TO IMPROVE A TRADITIONALLY LOW-TECH INDUSTRY?

IT’S NOT ALWAYS ABOUT INNOVATION

“You may have built the best possible solution for your industry, but what if your customers are satisfied with their pen and paper methods of dealing with the problem you look to solve? Your customer may have a significant problem, but they may not see that or agree. It is important to then learn what motivates their decision-making process and form your pitch to address those motivators.”

EDUCATE BEFORE YOU SELL

“At RewardMe, my team and I hit the ground running and began pitching absolutely everyone at conferences and trade shows about the power of customer loyalty in restaurants. The problem was that franchise executives weren’t looking for our product; we had to educate before we sold. We therefore created PDF guides and webinars to teach about the power of customer loyalty and why to do it now.”

– Jun Loayza | President, Ecommerce Rules
MAKE SURE YOU CAN BUILD IT FIRST

“There are theoretically many high-tech solutions to traditionally low-tech industries, but if you can’t build them yourself, you’re unlikely to win. Figure out what you’re good at and what you and your team can accomplish, and then attack the industry from that angle first — otherwise it’s time to learn the things you need to know, not pay for them.”

– Derek Flanzraich | CEO and Founder, Greatist
DON’T SAY IT SAVES MONEY

“Having talked to mostly all B2B startups, one of the most best strategies I have seen work is when the startup markets their tech improvement as a new profit center, not a cost-saving one. It’s a much simpler sale when you can walk into a boardroom and explain how it’s going to make their company more money, instead of trying to explain how it will potentially save them future dollars.”

– Seth Kravitz | CEO, Technori
HAVE A TON OF PATIENCE AND TRUST

“I experienced this when we tried to introduce wireless connected, LCD-screen vending machines into a fairly antiquated industry back in 2005. My takeaway was this: don’t act like you’re the savior of the industry, or make the rest of the industry feel that you’re saying, “Our way our the highway.” It takes a patient, tactful approach. Develop trust first, and the road will be much easier.”

– Luke Burgis | Director, ActivPrayer
MOVE ON A TREND FAST

“I had this problem in the speaking industry years back. It was antiquated and companies weren’t really using the Internet and social media to the fullest. I was able to take advantage of technology change and get a foothold in the marketplace quickly. A couple of years later, many of the other bureaus were great with social media. If I didn’t move fast, I would have never been able to get started.”

– Lawrence Watkins | Founder & CEO, Great Black Speakers
BE COMPATIBLE WITH THE STATUS QUO

“Industries that have been around for a long time and the people who work in them will often resist new ways of doing things –even if they’re better. Innovators must make their products and services compatible with the status quo and easy to both learn and use. Taking these considerations will make for a smooth and successful transition into general market adoption of your offering.”

– Christopher Kelly | Co-Founder, Principal, Convene
IS THE INDUSTRY READY TO ADAPT?

“There are many industries that are trailing horribly behind technology — legal services and recruiting services are two that immediately come to mind. But beware: just because an industry is ripe for innovation doesn’t mean it’s ready to change. Before starting a venture like this, interview plenty of companies to gauge how difficult it will be to sell the product in the space.”

– Jesse Davis | Business Development, Appinions
BUILD RESOURCES AROUND YOUR PRODUCT

“With a disruptive tool, or even something that requires more tech aptitude than the typical option in an industry, you have to make it easy for users to adopt what you’re offering. That includes providing everything from a user manual to tutorials to case studies. Educate your customers so that what you’re offering is actually on the path of least resistance for them.”

TALK WITH LOW-TECH INDUSTRY FOLKS

“Talk with a ton of low-tech industry people about your idea and take their feedback very seriously. This step of customer development is critical and often overlooked.”

– Brent Beshore | Owner/CEO, adventur.es
DON’T OVER-ENGINEER ANYTHING

“Don’t over-engineer. Too many entrepreneurs create technology for technology’s sake. Focus on the customers and their problems, and make sure that your solution solves their problems while keeping the technology in the background.”

SURVEY THE EDUCATION LEVEL

“Make sure that the people who will be using the high-tech offering are educated, willing and able to use your solution. This barrier to entry is often underestimated.”

– Abby Ross | Co-Founder & VP Operations, ThinkCERCA

 

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 

Top 10 Nibletz Posts This Week

 Candy corn and candy pumpkins closeup

 

Happy day after Halloween, everyone! How’s that candy hangover treating ya?

We’ve had a great week here at Nibletz, with some fun stories and inspiring tips. Our most popular story this week affirmed what we already knew: now is a great time to be an entrepreneur. We also met a great new startup bringing technology and handwritten letters together, and we climbed inside an investor’s mind as he thinks through an investment decision.

Besides great content, though, the Nibletz team has been working hard on some big changes we’ll be announcing soon. We’re so excited about the new things we’re working on, it’s hard to keep it quiet. So, while we try to keep our mouths shut, check out the top 10 stories of the week:

  1. 13 Reasons Now Is The Best Time To Be An Entrepreneur
  2. Handwritten Letters Meet Technology
  3. Inside The Investor’s Mind
  4. 5 Presentation Tools Your Startup Should Check Out
  5. Crowdfunding Goes Feminine
  6. “Nice Shirt, Bro!” Best Practices For Startup T-shirts
  7. Should You Really Be Giving Starup Advice
  8. Want To Build A Website? Don’t Sweat The Tech
  9. 5 Ways To Maximize Your Startup’s Efficiency
  10. 15 Interview Questions To Ask Your Next Startup Hire (An old post, making an appearance in this week’s top 10.)

Around the Internet

So, it turns out the NSA has been accessing Google and Yahoo data centers, even when the companies didn’t know it.. Hop on Twitter and let us know what you think about that.

In another hacking angle, PandoDaily’s Adam Penenberg invited hackers to investigate him, and they did. The hackers’ version is good, too.

And, in good news for startups everywhere else, Boris Wertz of Version One Ventures believes funding has gone global. It is, in fact, a great time to be an entrepreneur.

Photo Credit