4 Steps To Find The Right Mentor For Your Startup

Everywhere Else, Startup Tips, YECPeople often say that finding a mentor is essential as an entrepreneur, especially if you’re young. I am a junior at Duke University and the co-founder of Star Toilet Paper, so the experience I had prior to starting this company includes camp and caddying work. How do I even know what steps to take or how to develop a business?

While many people within the realm of entrepreneurship are willing to help, there is a big difference between someone who answers a few questions for you and someone who is genuinely interested and invested (not monetarily) in both your company and in you as a person. To me, the most important aspect of a mentor is the latter; your mentor must have a vested interest in learning more about you and what you wish to do to change the world with your new company.

But how do you go about obtaining this type of mentor, and how do you know if they are the right person?

Where: In college, I have access to both people and resources. But you don’t need to be a student to access the people and resources you need. In any major city, there will be a variety of incubators, accelerators and universities which are hotbeds for innovation and centers of knowledge. That does not mean that you need to find the entrepreneurship professor at the closest university. See what is around you and how you can make the most out of those resources. I have found that it is often the third or fourth degree of separation that leads to the best person for you.

When: ASAP! Even if you have thousands or millions of dollars in revenue, a mentor can be helpful. It is important to know that, no matter where you are in your business, there is always room for improvement and a sounding board. The advantage of having a mentor as that sounding board rather than an employee or co-founder is that they come with a consumer perspective. When you work on something 24/7, you begin to lose touch with the thoughts of those who will actually be using the product. Having someone outside the company is a great way to get back in touch with that side without having to test or survey.

How: Just ask. Having access to people and resources is helpful, but the relationships do not go as far as mentorship. Generally someone interested in mentoring will send emails saying things like, “Hey, wanted to catch up and see if there was anything I could do!” They recognize how valuable their time is to you and thus, you need to do the same. Tell them what you are looking for and why you specifically want them to mentor you. Demonstrate the value that they will have in the company. And just ask.

So…Who?: Of course, there is no easy answer to this question; it depends on personal preference and what you are looking for help with specifically. For example, in our case, there are multiple possibilities. We are looking for people with expertise in the toilet paper field, in the marketing field, and in the business development field. Chances are, just one person doesn’t embody these characteristics.

That being said, it is better to have different people with different types of expertise so that you know the question you are asking will be answered by somebody with years of knowledge and experience.

Furthermore, when you find someone you believe could make a valuable mentor, ask yourself whether you are comfortable sitting down for hours and talking with that person, both about the company and yourself. Your mentor should love what you are doing and love your passion. Make sure that they are interested in you at least as much as they love the business.

Bryan Silverman is the co-founder of Star Toilet Paper and a junior studying neuroscience at Duke University. His company utilizes a two-ply business model: they first obtain a large public venue to receive toilet paper at no cost, then reach out to advertisers who pay half a cent per ad to target that demographic. He is a New Yorker at heart, a diehard Yankees, Giants, and Nets fan and of course, a Cameron Crazie.

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.

10 Best Blogs For Business Advice

YEC, Everywhere Else, Startups, Startup TipsQuestion: What’s your favorite blog for Internet-based business advice?

Start with SEOMoz

The Daily SEO Blog from SEOMoz is filled with articles on marketing, brand building, community management and more. The company embraces transparency and often shares their own strategies and metrics to better help other online companies. Using the advice from the SEOMoz blog, we’ve managed to increase our traffic by 10 times in the past year. Thank you, SEOMoz!”

Opt Into Unbounce

“What Oli Gardner and his team have built with the Unbounce blog is amazing. This is my favorite because they have incredibly useful infographics on the process of internet marketing. Very few blogs go as in-depth on internet marketing as Unbounce. Make sure you check out their “Noob Guide to Online Marketing,” which is a great cheat sheet to continuously grow your company’s brand online.”

Make Use of Mixergy

“I love these targeted interviews from Mixergy that I can watch with Andrew Warner and his guests. Generic advice just isn’t as valuable, and being able to watch the guest adds another dimension. The interviews are inspiring and always leave me with ideas, tactics and strategies to implement in my business.”

Learn From @ASmartBear

@ASmartBear is a really insightful blog for startup entrepreneurs, founders and CEOs with a focus on marketing and customer acquisition. Jason Cohen, the author of the blog, previously built a multi-million dollar company without VC money, and then sold it for cash.”

Anita Loomba for More Media

Anita Loomba has created a fantastic social media and online marketing blog that displays visual infographics and provides relevant and valuable information for anyone looking for ways to get a handle on their social media. You can subscribe to her blog through email too, which helps when you’re on the go and not at your computer!”

Stacey Ferreira | Co-Founder and Vice President, MySocialCloud

The @KISSmetrics Marketing Blog

The @KISSmetrics Marketing Blog has some of the best Internet marketing advice I have ever found. They are wonderful about breaking down complex techniques into step-by-step instructions. It’s one of the few business blogs online where I don’t feel like I have wasted 10 minutes of my life, reading the same old advice rehashed over and over again, like elsewhere!”

Find Fred Wilson on AVC

“Fred Wilson, a VC and principal at Union Square Ventures, has a daily blog called AVC that he has written for years. His posts are insightful (check out the archives too!), but even more valuable is the comments section, which often runs hundreds of comments deep. Each post is a dense discussion of savvy Internet-based business advice from entrepreneurs, VCs, marketers, sales folks and more.”

Aaron Schwartz | Founder and CEO, Modify Watches

Vin Vacanti’s How To Make It as a First-Time Entrepeneur

“Yipit co-founder and CEO Vin Vacanti writes a blog that is full of thoughtful, honest, actionable and inspiring lessons. Especially relevant to the first-time entrepreneur, but really relevant to just about anyone, each of Vin’s posts is a winner.”

Derek Flanzraich | CEO and Founder, Greatist

Peek Into PandoDaily

PandoDaily offers a great alternative to actual insightful news in the Silicon Valley, and the interview they do with prominent investors and founders are great for interesting insights and learnings.”

Jesse Pujji | CEO, Ampush

Read Neil Patel at Quick Sprout

“Big supporter of Neil Patel’s blog at Quick Sprout. He consistently publishes high-quality, resourceful articles on Internet-based advice. Definitely recommend following it.”

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.

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Startup Tips: 4 Ways To Defuse An Awkward Business Situation

ZinePark, Startup Tips, YEC, Guest PostAs female entrepreneurs under the age of 30, my business partner Brittany and I have found ourselves in our fair share of uncomfortable situations. From being carded at client dinners, to being asked if we were the sales girls, our looks and gender have never gone unnoticed by clients.

Since starting the company in January 2011, we have found that no one wants an awkward situation to blow over faster than the person who just made the ultimate blunder. Instead of mumbling “awkward turtle” or cringing at the ordeal, we have discovered another approach that works every time: light-hearted laughter! Spinning the situation from an uncomfortable exchange to a talking point will endear clients. They will appreciate that you didn’t harp on their misstep.

Below are a few maneuvers we’ve used in less-than-ideal situations that left us feeling more like Michael Jordan going for the slam dunk, instead of the towel boy:

Awkward Encounter #1: Founder Faux Pas

  • Client: “It has been great to meet with you ladies. We are looking forward to meeting with your upper management next week.”
  • ‘ZinePak Response: Brittany: “Kim, are you free next week?”
  • Kim: “For these guys, I’m sure I can work something out. You?”
  • Brittany: “Yes, I’m great. Congratulations gentleman, the founders of the company are totally available for a meeting next week as long as you bring the coffee.”

Why It Works: You are letting your client know where you stand in the company hierarchy without belittling them. This proves helpful for the future as the client is more likely to only reach out to you when there is high-level question or concern instead of a task that one of the team members under you can handle.

Awkward Encounter #2: Whose Daughter Are You?

  • Client: “Oh, you are Kim and Brittany?! How did you get this meeting? Do one of your fathers work here or something?”
  • ‘ZinePak Response: “I can see that our reputation preceded us as opposed to our dashing looks, and I can’t be mad about that! Our fathers don’t work here but we know a few dads in the building who have worked with us in the past and think we are pretty awesome. Does that count?”

Why It WorksEstablishing presence within a company is paramount. By letting this person know that you have done deals within the company allows them to mentally put you into a “recommended” grouping in their mind. This also gives them the opportunity to ask you, “Who else have you worked with?,” hopefully giving them a way to change the conversation since their first sentenced started out with a less then positive tone!

Awkward Encounter #3: Your ID, Please

  • We’re at a client dinner when the waiter so eloquently asks: “Can I see your ID, miss?”
  • ‘ZinePak Response: “I keep forgetting to tell my Botox team and plastic surgeon to take it easy. Next thing you know, I won’t be able to buy a lotto ticket!”

Why It Works: You are showing your client that you recognize your young age and embrace it in a humorous way. This lets them know that you aren’t trying to be something you’re not by dressing or acting differently. This amount of comfort with your client will allow a friendly, low-key, and no-fuss atmosphere to flourish.

Awkward Encounter #4: Mistaken Identity

  • We’re out with a client when a stranger refers to me or Brittany or being the client’s daughter/little sister.
  • ‘ZinePak Response: “I wish I could get an ounce of their good looks! Sadly, this is just my client. Instead of sharing a gene pool we share projects and contracts.”

Why It Works: Show me a person who doesn’t like a compliment and I will show you a world-class fibber! First-class flattery isn’t dead as long as it is done in a sincere (and not creepy!) way. Whether it is complimenting someone on a new suit or haircut, going back to business basics is never out of style.

Just remember that at the end of the day, it is best to always be true to yourself. Brittany and I don’t try to pile on makeup or add enough hair spray to make us look older. We just put all of our focus on the most important thing­: our work! Clients care that the work we put in front of them is creative and dynamic, and not about how many wrinkle lines they can make out on our foreheads.

Kim Kaupe is the co-founder of ‘ZinePak, a custom publication company that creates engaging fan packages for entertainers, brands, and celebrities. She graduated with a BA in Marketing from The University of Florida in 2008 and roots loyally for her Gators. Most recently, she and her business partner Brittany Hodak were named to Advertising Age’s 40 Under 40 List for 2013. 

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.

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8 Tips for Successfully Pitching an Investor

Startup Tips, Pitching Investor, YEC, Question: What’s your TOP recommendation for an entrepreneur pitching an investor, based on your own success — OR failure?

Share Your Big Vision, Not a Product Tour

“It’s a rookie error for an entrepreneur to pitch an investor with the equivalent of a product tour. Investors are usually more interested in the big picture — your vision for your business, why they’ll be a good match, and how your company will return their money handsomely. If your slide deck or in-person presentation seems to linger too long on touring your site or demonstrating your product, it may convey that you don’t have a sense of the larger mission. Spend less time on the nitty-gritty upfront; rather, capture the investor’s interest with your passion for the bigger picture. Once the investor has a sense of that, s/he can always ask you for a deep-dive into the product tour. And if they do, it likely means you’ve piqued their interest.”

Doreen Bloch | CEO / Founder, Poshly Inc.

Find the True Believers

“Investors will mostly say no. And contrary to what many entrepreneurs may think, it’s not your job to convince them why they’re wrong but, instead, to find investors that think you’re right. I’ve found that’s the hardest part, really — spending time speaking with investors who aren’t convinced can be a huge waste when, at the end of the day, they aren’t likely to invest in something they’re not sure of to begin with. That’s their job. Not heeding this has been my biggest mistake so far in fundraising and pitching — and eaten up time I could have been searching for true believers and advocates instead.”

Derek Flanzraich | CEO and Founder, Greatist

Win the Battle at the Beginning

“When pitching to an investor, you’ve got to win the battle ahead of time. I think doing PR and branding work for your company in advance is important. Make sure that when someone Googles you, they see great results. Make sure you’ve built a relationship with one of the partners at the firm. The deal should already be close to being done before you pitch; the “partner meeting” is suppose to be a formality that allows the other partners to feel good about the deal and ask their questions. If you are talking to an individual investor make sure you have milestones that align with your financial projections. Anytime I’ve been able to inform an investor exactly how we plan to produce the projected revenue concisely and clearly, we’ve gotten the deal done.”

Know What an Investor Fears

“The biggest thing an investor fears isn’t what you think it is. Investing in something that fails isn’t an investor’s biggest concern. The thing an investor truly fears most is missing out on something big. The surest way to land an investor is to convince her that your project is a big opportunity not to be missed out on. The best proof of your opportunity is social proof, specifically by having other respected investors on board. Once you find one eager investor, the rest are easy.”

Be Cocky to Seal the Deal

“My team and I are super nice people. We originally walked into investor meetings with a huge smile on our faces and a perfectly practiced pitch. Unfortunately, we found out that nice guys finish last. It wasn’t until we changed our approach that we finally closed our million-dollar round. Instead of being friendly and nice, we acted cocky and brash, as if the investor was lucky to be meeting with us. Of course, we were still very respectful, but we stayed away from thanking them for the meeting or sounding too eager for their money. We successfully closed investor pitches when we mentally decided that we are the prize and that the investor needs to impress us in order to take the money.”

Jun Loayza | President, Ecommerce Rules

Communicate Your Milestones to Build Confidence

“Potential investors want to know where their money is going and what their investment will help you to accomplish. Perhaps most importantly, they want some assurance that you will wisely use their money to hit milestones that will, in the future, allow you to raise additional money. Instill your would-be investors with confidence by clearly connecting the dots between their investment and your business goals. Create a compelling narrative that shows that you will be able to accomplish X, Y, and Z with their money — which will most certainly guarantee future investments.”

David Ehrenberg | Chief Financial Officer, Early Growth Financial Services

Do All Your Homework

“The golden rule for meeting with investors is doing your homework. There are two things you absolutely need to know: which industries they invest in and what prior investments they’ve made. This is really the bare minimum; it’s also nice to know a bit about their personal and professional background: where they went to school, what they’ve been posting about on their blog, and what outside interests they have. These things will help target the conversation and demonstrate that you’re a professional and have done your research. You need to show these people that you’re a capable and reliable recipient of their money, and solid preparation will help you jump out of the starting gate in good style.”

John Harthorne | Founder and CEO, MassChallenge

Do NOT Talk Valuation

“Talking valuation during a pitch is shortsighted for an early-stage investor pitch, and just one of many components that will be discussed at a later stage of the investor discussion. Instead, focus on the team and the technology (you should actually show it to them). Clearly explain the stages of your startup and the reasons why you are requesting a certain dollar figure. Keep the dollar figure on target to a run-rate to achieve your goals through that stage.”

Carmen Benitez | Co-Founder and Managing Director, Fetch Plus

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.

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Startup Tips: How To Do Well By Doing Good

community-service-300x200YECWhat do you think of when you hear “doing well by doing good” – that it’s a cliché? How about “impact businesses” – sexy? Or what about: “for-benefit companies” – confused yet?

No matter what you call it, many young women today want to align with an organization that is changing the world somehow. But most of us are not quite ready to give up our salary or live in a shared apartment at 32 in order to join a nonprofit we believe in.

But what if there’s a third option?

I attended a United Nations high school (UWCSEA), where the idea of compromise wasn’t discussed much. We were taught that, in any given situation, a solution that works for both parties (or countries, or disputed areas) can be created. Yes, the magical intersection in the Venn diagram is real!

More plainly put, we learned that you can always create a win-win situation to benefit both sides. For companies and startups today, making a profit and serving others are the two big circles — and that sliver in between, for the millennial generation in particular, is the sweet spot, aka “conscious capitalism.”

The line between the two worlds of do-gooders and money-makers is blurring. Companies are finding ways to make both goals definable and attainable. In fact, to stay competitive in today’s environment, you need to help people and serve society. Few businesses can stay competitive if their product or service is not providing value, solving an issue or making a real impact.

Whether in education, energy or health care, entrepreneurs are finding models to make their solution not just viable, but also financially sustainable. Rather than expending their best resources on fundraising and selling to donors, these entrepreneurs are focusing on building a product.

How we found our overlap

ContextMedia began seven years ago, in a dorm room kitchen one Friday night. The mission at hand, if we so chose to accept, was to educate patients living with a chronic conditions on how to live healthier lives via diet and exercise management. We envisioned them learning how to do this through engaging media provided during their office visit.

Three 19-year-old dreamers pooled their savings to buy TVs and DVD players, ripping content online, in order to provide a beta product to physician practices. The doctors loved the product and recognized true benefit to their patients and practice, but had no dollars to pay for it. Did we give up?

No. While we could have gone the 501(c)(3) route and actually drafted some grant applications, we didn’t want to go to sleep worrying each day about running out of money (which is the same reason we didn’t take external capital) instead of executing our vision. So we had to find someone else who also saw value in patients learning to live healthier: insurance companies? Or how about another industry whose mission is to help people live a healthier life – pharmaceutical and device companies?

3 tips for finding — and funding — your big idea

Self-funding an idea that does good AND makes money is possible if you know where to look (and what you want to achieve).

Here are 3 ways to get started:

  1. Identify what drives you in life. What problem speaks to you? For me, it was education — and the powerful freedom of choice that comes with knowledge.
  2. Identify your ideas, skills and resources for providing a solution. More specifically, ask, “What else do I need to do this well?” I had a passion for the power of media communication, but I knew I didn’t have sales or technology expertise. I taught myself a little bit but also surrounded myself with people more talented than me.
  3. Identify a financially sustainable way to execute your solution. Is it direct sales, channel partnerships, sponsorships, ad networks, etc.? If you’re not sure, list the stakeholders who may find value in your offering — and evaluate their ability to pay. As our story illustrates, the best revenue model for your company is not necessarily the most obvious one. Your checks may never arrive from the end user — but that doesn’t mean you can’t create win-win situations where some other company is willing to pay for the utilization of your product or service. You just need to find them.

Perhaps the most exciting news about the increasingly blurred line between doing well and doing good is that young women in their 20s and 30s don’t need to hit that big career brake when they decide it’s time to have a family or pursue something more impactful.

Instead, we can establish and run well-funded enterprises of our own, with a good team and a great model — all while giving us the freedom to choose our working hours, values and goals.

Shradha Agarwal is the Chief Strategy Officer and Co-Founder of ContextMedia, a leading media technology company that educates and informs consumers as they make critical decisions about their health. Shradha was named to Crain’s Chicago Business 40 Under 40 list, and she was the Stevies’ 2012 Female Entrepreneur of the Year. You can connect with her on LinkedInGoogle+, and Twitter.

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.

See YEC founder Scott Gerber at this huge startup conference next week.

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13 Ways to Best Prepare Your Team in a Business Crisis

Question: How do you prepare your team ahead of time for a business crisis?

Keep a Positive Mindset

“If something is going wrong, the employees are going to sense it so you should be upfront about the problem to an extent. However, once the problem is mentioned, positive attitudes must replace negative thoughts around the office so moral is not lost. To help this, go for a quick win — whether it be a small account or just an achievement. Change something for the positive.”

Tell Them Before They Find Out

“There’s nothing worse than hearing bad news about the company you work for from an outside source. Always be proactive and communicate what’s to come. You never know, the solution to your problem could come from an unexpected member of your team. Often, your employees have detailed insights into their area of the business that you can’t see as the CEO.”

Overcommunicate Always

“Overcommunication has become a core value of ours — and it starts from the top (or, in our inverted organizational hierarchy, the bottom). I tell our employees everything, share with them what’s ahead, and what I think we’re going to need to do to prepare for it. Then I ask for their help to craft the best response, so they know they’re truly a part of the solution.”

Derek Flanzraich | CEO and Founder, Greatist

Think It Through Completely

“The biggest thing we teach our clients is to think through what would happen in each type of crisis. Be incredibly specific about who would have the authority to make decisions on behalf of the company and, if possible, have content for social media prepared and vetted by your legal team. Crises are chaotic, so having a clear plan written down and distributed to your team is key.”

Kade Dworkin | Founder and Chief Crisis Officer, Red Alert Social Media

Hold Your Values Close

“In the midst of any crises, big or small, it’s easy to lose sight of values and focus on survival. Build a culture that reveres and relies on values to guide decisions so they will be ingrained in the way you operate.”

Be Realistic, Really

“Only months after TalentEgg launched, the economy began to crumble. Our business involves helping employers leverage our website to hire students and grads, and many meetings started and ended with the dreaded phrase: “hiring freeze.” I promptly set up a company meeting and outlined our strategy for the next several months. I got buy in from the team and we weathered the storm together.”

Lauren Friese | Founder, TalentEgg

Train for Crisis Mode

“Startups are going to have crises now and again. Make sure that your team members are aware of what is required of them during a crisis. Do they need to be in the office longer? Are there specific communication protocols you have in place to communicate with customers? Are there a set of resources people need to access when it is crunch time? Make sure your team is aware of these things.”

Lucas Sommer | Founder CEO, Audimated

Warning: It Happens

“Make sure everyone on the team realizes that shit happens. It just does. No matter how much you plan or safeguard, at some point, you’ll have a mess on your hands. In those times, the most damage is created by panic and stress. Handle the mess with grace, know it will pass, and the team will be just fine. Or it won’t and you were screwed, anyway – but you handle it the same way.”

Brent Beshore | Owner/CEO, adventur.es

Timing Is Essential

“Proper timing is essential. You don’t want to cry wolf too early and cause a potential panic, but you want to allow your team sufficient time to plan and adjust. If you can stick to the facts and get the brainstorming ball rolling with a few suggestions of your own, you can help your team begin to immediately focus on solutions.”

Time to Lead by Example

“Transparency is key to surviving a company crisis, but it is not enough. Leaders need to put in the legwork before they bring the team together. Showing up with a proposal for how to handle the crisis will settle the rest of the organization, while providing a framework upon which the rest of the team can build. Convening your team when there is a crisis with your hands-up is not sufficient.”

Aaron Schwartz | Founder and CEO, Modify Watches

Avoid the Blame Game

“As much as possible, avoid focusing on who is to blame. This strategy will simply lead to guilt, frustration, anger and defensiveness. Instead, focus on solutions to address the current situations and opportunities to prevent similar crises in the future.”

Elizabeth Saunders | Founder & CEO, Real Life E®

Appoint a Spokesperson

“In a crisis situation, you’re not just contending with internal struggles — your phone is often ringing off the hook with reporters looking for a comment on what’s happened. Have one dedicated spokesperson within your company who is media-trained and well adept at delivering messages to manage these situations and forward all outside calls/emails to them.”

Melissa Cassera | President and CEO, Cassera Communications

Anticipate With Backup Plan

“We brainstorm all the possible things that could go wrong in all areas of the business. From there, we start creating back-up plans. It’s much easier to think of solutions when you aren’t panicked.”

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.

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What Investors Really Want to Know

YEC, guest post, startup tipsVenture capitalists (VCs) make you work hard for their money by inundating you with question after question about your fundraising process, your company goals, your founding team, among other things. Many of these questions will seem reasonable. Some will seem ridiculous.

But no matter the question, you must have an answer. And your answers better be good.

Behind all of this interrogation, there is one key underlying question: what makes you different? Regardless of the variation on the theme, your potential VC is really asking why your business — as compared to others vying for their money — is worth their investment.

If you’re ready to join the ranks of funded entrepreneurs, you need to be prepared to answer this key question. How?

Begin with a thorough competitive analysis

You need to be able to paint the big picture in broad strokes, providing a comprehensive overview of the competitive market, including potential risks, success factors, and barriers to entry.

Build your value proposition

What is your unique value proposition — and how can you prove it? Identify your customers (or potential customers) and their needs. What pain point are you addressing and what’s your proposed solution?

Once you’ve done your competitive analysis and built your value proposition, you’re ready to make the case for what makes you different, weaving your unique selling points throughout your entire pitch. Make sure to consider the following when crafting your response:

  • Offering. Specifically, what product or service are you providing that nobody else does? Even if there are many competitors with a similar offering, how can you distinguish yours? Is it a difference of perspective? Cost? Ease of use? Target the little (or big) things that prove the uniqueness of your offering. There needs to be a hook somewhere; find it and use it.
  • Approach. What makes your business model or marketing strategy stand out? Detail your market penetration potential, including potential sales and distribution channels. You want to show that you have a plan for making money, a plan that is adapted for your particular company — a plan that will work (even where others may have failed).
  • Technology. If it’s your state-of-the-art technology that makes you different, push this point. Be prepared to show off the technology that is the engine powering your business. Note that if it’s your technology that makes you stand out, you also need to be prepared to discuss future tech developments to show your competitive advantage won’t be lost somewhere down the road, post investment.
  • Team. Sometimes it’s the people at a startup who make it stand. If this is your company strength, sell it. Who are your key players? What were their previous successes? As any successful serial entrepreneur can tell you, an all-star team (or even a team with one lone shining star) can be a powerfully effective selling point.

It really all boils down to what makes you special. VCs meet so many entrepreneurs; they are the audience for an endless litany of pitches. Unfortunately, this means VCs are often bored and somewhat jaded. They are looking for a spark, for the magic. And they won’t dig to find it. That’s not their job.

It’s your responsibility to bring to the forefront what makes you stand out. Ultimately, you want to thoroughly convince the VC, that, if they take the leap of faith to invest in you, you are going to execute on your vision in a way that you—and only you—are in the unique position to execute on.

David Ehrenberg is the founder and CEO of Early Growth Financial Services, a financial services firm providing a complete suite of financial services to companies at every stage of the development process. He’s a financial expert and startup mentor, whose passion is helping businesses focus on what they do best. Follow David @EarlyGrowthFS.

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.

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Young Entrepreneur Council Launches Startup Insurance

Startup Insurance, Health Insurance, YEC, Scott GerberWith the Affordable Care Act set to take effect in January 2014, many entrepreneurs and business owners still have serious concerns and fears about potential increases to premiums, state exchanges and compliance-related issues. To help them navigate the health insurance landscape, YEC (Young Entrepreneur Council), an invite-only organization of elite entrepreneurs, has launched StartupInsurance, a health insurance destination created by business owners for business owners with a carefully curated collective of providers and affordable insurance plans from across the nation.
StartupInsurance provides startups, business owners, and job-unlocked individuals–people who are likely to transition into self-employment as a result of being able to purchase health insurance options outside of traditional employers–with direct access to affordable, quality health insurance options, while removing confusion and time inefficiencies from the purchasing process. StartupInsurance connects the self-employed, their families and their employees to major medical health insurance options that will be fully compliant with the Affordable Care Act by 2014, ensuring that those insured individuals who purchase qualifying plans avoid tax penalties.
“As our nation becomes more entrepreneurial, and more Americans launch startups, start small businesses, and join the booming gig economy, YEC wants to be there to support business owners and newly job-unlocked individuals by providing them with access to quality, affordable health care insurance options throughout the United States,” said Scott Gerber, founder of Young Entrepreneur Council.
Through its direct carrier partnerships, StartupInsurance customers will benefit from access to one of the largest major medical footprints in the United States. Insurance options will be available in nearly every state across the nation via StartupInsurance.com. (Specifics about our carrier partners and available health insurance options are available upon request)
“In speaking to thousands of entrepreneurs, freelancers and small business owners over the years, we have learned what is important to them, what’s working for them–and most importantly, what isn’t,” said Scott Gerber, founder of YEC. “This direct feedback has guided our thinking in creating StartupInsurance–a destination created by the very people it’s serving.”
In the coming weeks, StartupInsurance’s health insurance options will also be made available to the business customers and members of various organizations and corporations, including FedEx, Grasshopper, Wave Apps, LegalZoom, Moo, Startup Weekend, Dwolla, Crowdspring, 99designs and others.
“As a leader in the small business space, Wave understands how important it is for business owners to find affordable healthcare for themselves and their employees,” said Kirk Simpson, co-founder and CEO of Wave. “We are excited to provide our customers with bestc of breed insurance products through YEC’s StartupInsurance and SmallBusinessInsurance. As we enter uncertain times with the changing healthcare landscape, these insurance products will bring certainty and predictability for our customers.”
In addition to StartupInsurance, YEC is also launching FreelancerHealthcare (www.FreelancerHealthcare.com) and SmallBusinessInsurance (www.SMBinsurance.com) to assist freelancers and small business owners, respectively. StartupInsurance is the first of several business products and back office services that YEC’s new services division will bring to market to help power business owners and America’s thriving gig economy.
Self-employed individuals and business owners interested in StartupInsurance can get quick quotes and apply online at www.StartupInsurance.com or call (888) 707-1484. Organizations interested in connecting their customers and members with StartupInsurance options can contact info@theyec.org for more information. StartupInsurance videos, embed codes and collateral at http://startupinsurance.com/materials.php
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.
Find out more about Startup Insurance and the YEC When Scott Gerber speaks at this national startup conference Sep 29-Oct 1st in Cincinnati.
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Startup Tips: 5 Tips to Make Your Inbox More Manageable

Startup Tips, email, inbox zero, YECIf you’re like me (or me a month ago), your inbox seems to be like a cancer that is growing faster than you can possibly lop it off. A day out of the office, or a morning of back-to-back meetings, leaves you to return to an unread email count in the hundreds. Just keeping up with your inbox could easily be your full-time job, except for the fact that it wouldn’t cross a single thing off your to-do list.

Tired of wasting time, sacrificing productivity, and putting up with inane subject lines because of email clutter? Here are five simple ways to declutter your inbox.

  1. Set up Priority Inbox. If you use Gmail, you may be missing out on an amazing feature called Priority Inbox. I was initially hesitant to try it because I was worried I would somehow lose emails with it, but it has actually helped my productivity more than anything else I’ve done. Priority Inbox puts new emails in two different places within your inbox — one for ones it considers important, and another for ones it considers unimportant, based on the sender and subject line. Now, even though I might have 90+ new emails when I come into the office in the morning, I can immediately see the 12 that need my immediate attention, rather than getting lost in a sea of daily deal offers and cat slideshows until lunch.
  2. Create filters. Many email providers allow you to set up filters for certain types of emails. You can use these filters to do lots of things: apply a certain label to an email, delete it, send it immediately to a certain folder and more. For the emails that aren’t urgent, set up filters so that they to skip your inbox and go straight into a certain folder for later. Then, once a day, go into that folder and see what’s new. I use this for internship applications I receive, emails from the shopping websites I subscribe to and emails sent to a former employee who no longer works with us.
  3. Use Boomerang. Boomerang is a free plug-in for Firefox and Chrome with Gmail that allows you to do things like schedule an email to send in the future, bring an email back to your inbox at a certain time (like your flight itinerary the day before your trip) or return an email back to your inbox if you have not received a reply to it after X days. Rather than leaving an email in your inbox just to remind yourself to follow up on it or have it to easily access for later, use Boomerang to clear it out for now and have it come back when you actually need it.
  4. Unsubscribe from 90 percent of the lists you’re on. While you probably just delete most of these unwanted emails every day, they clog your inbox, waste your time checking them off and then pushing delete, and make it hard for you to see the emails that actually matter. For a span of about a week or so, every time you get an email you do not want to receive (the ones from your mom don’t count!), take the time to open it, scroll down, and figure out how to unsubscribe from the list. It will require a little more time upfront but it will pay off in the long run when the number of emails you receive on a daily basis goes way, way down. You can also use a service like the Swizzle to help you unsubscribe from lists all at once or opt to receive daily digests from certain lists instead of individual emails.
  5. Use your calendar rather than your inbox. People often leave emails in their inbox to remind them to do something — to make a call, start a project, or to follow up with someone. Instead of taking up valuable inbox space with emails you have already read, schedule these to-dos in your calendar to remind yourself that way. If you’ve been meaning to call to make an appointment somewhere but the place doesn’t open until Tuesday, create an event in your calendar for Tuesday at 10:00 a.m. as a reminder, rather than leaving the related email in your inbox (which you might not even see on Tuesday anyway).

Stephanie Kaplan is the co-founder, CEO & Editor-in-Chief of Her Campus Media, the #1 online community for college women and marketing platform for companies looking to reach the college market.

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.

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4 Reasons Choosing Startup Life Over College Is Totally Worth It

Startup Life, Startup tips, YEC, Alex Schiff, Fetch NotesIn 2011, I wrote a post called “Why I Didn’t Get A Real Job” that got a lot of attention. Admittedly, it was a childish reaction to a relative’s assertion that I needed to go get a “real job.” After a few months of full-time entrepreneurship that same summer, I thought I was finally experiencing the startup life. Twenty-four-hour hackathons, no set hours, no boss — “Oh yeah!” I’d say, “let’s disrupt stuff!”

Okay, maybe I wasn’t quite the walking stereotype of Sh*t Entrepreneurs Say, but you get the point.

In April 2012, however, I sat at a crossroads: continue to just scrape by or go all in on my startup Fetchnotes. After a lot of internal struggle, five of us decided to leave the University of Michigan, and our journey eventually led us to TechStars Boston’s Fall 2012 class. With that decision 9 months in the rear view mirror, I’ve had some time to reflect on what really happens when you leave school to start a company.

1. Most people will never quite get you or what you’re doing.

When I talk to people about what I’m doing, I usually get one of these responses:

  • “So, are you, like, the next Mark Zuckerberg or something?”
  • “So is TechStars, like, paying you to work on Fetchnotes for them?”
  • “How long do you plan to do this before you get a real job?”
  • “How long until you go back to Michigan?” (As if it’s some sort of semester abroad program.)

The fact of the matter is, no one understands until they’ve been in the trenches. And that’s okay. It’s actually part of what I like about not being in Silicon Valley. Even in Boston, with its thriving entrepreneurial communities, most people I meet think what I’m doing is interesting. Maybe it’s an ego thing, but it provides a small dose of happiness every day.

2. All time is not created equal.

As you shed your other non-entrepreneurial responsibilities (like class), each individual unit of your time becomes more valuable.

You’d think it would be the opposite — when you have less time to give each hour is more precious, and there are diminishing marginal returns on your productivity. But in practice, when you have no other distractions, you actually become more productive.

As we dedicated more time and intensity to our specialties, this could be seen across all functions of the business. I became a more effective hustler. Our engineers became more efficient coders. The chemistry that evolves from a small team marching together all day, every day, in lockstep toward the same vision holds incalculable value.

3. Emotions are magnified — both the good and the bad.

Inevitably, there will be some crisis that rocks your foundation so greatly that you don’t know how to respond — and entrepreneurs are such good salesmen that most people have no idea there’s anything wrong. With no finals or homework to distract us, we walk around with a smile masking the internal disposition of a zombie. No one likes to admit it, but we tend to be emotionally unavailable to the outside world when it comes to problems in our startups. Just like parents, we never want to hear that our baby is anything but a darling prodigy.

But then, there will be days of pure, unmitigated ecstasy. You get two large investor commits in the same day. You get introduced to people who basically invented the Internet as we know it. You have two-hour whiteboard sessions with people whose theories you’ve been studying from afar. The press raves about your new release. You scream “YES!” and high-five anyone in your vicinity without explanation. You dance in place.

These are the moments that turn the Startup Bug into Serial Entrepreneur’s Disease.

4. The journey will be worth it in more ways than you can imagine.

Many more qualified people than I have espoused the virtues of starting a company over pursuing a traditional university education. But what makes it worthwhile are all the little things that mean so much more because you’re experiencing a level of career satisfaction most people must wait years for, if they ever achieve it at all.

It’s John-the-building-security-guard finally remembering your name and no longer making you sign in after three months of seeing you every single day. It’s finding out how many other people in your network have started using your product without you saying a word. It’s regularly enjoying team dinners and signing the check.

And then, one day, you look around at that very table of team members and notice that, for once, no one is talking about work. We’re reminiscing about a crazy adventure from the night before, or planning a concert for next weekend, or poking fun at each other’s dating lives. For the first time, you grasp the fact that the bonds you’ve forged would not have been so tight had you not convinced your team to take a bet on you, and more importantly, on themselves.

It’s the moment you realize that what makes you unique isn’t the pursuit of success, wealth or power. It’s that your mission in life is about the pursuit itself, rather than what you’re pursuing.

Alex Schiff is the founder and chief executive officer of Fetchnotes, which makes productivity as simple as a tweet. Prior to Fetchnotes, Alex was the vice president of Benzinga and a student at the University of Michigan’s Ross School of Business.

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.

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13 Pieces of Startup Advice You Never Thought Of

Guest post, startup tips, YEC

Question: What’s your most unorthodox/funny/strange-but-good advice to other startup founders?

Get a Vacuuming Robot

“When you’re in startup mode, you’re not thinking about cleaning. The downside is that your environment really affects your productivity, so having a clean home office is crucial. Consider hiring a cleaning service or getting a vacuuming robot to make sure that you’re working in the best conditions so you can produce your best work!”

Working Out Will Save You Time

“I’ve found I’m so much more efficient after I work out that I always gain productive time, not lose it. Seems counter-productive for many, but my startup founder friends who don’t exercise regularly find it harder to stay focused, tougher to be creative, difficult to maintain a good diet, and are just less happy in general.”

Derek Flanzraich | CEO and Founder, Greatist

Clean Your Employees’ Mugs

“As a founder and leader of your startup, you want to demonstrate to your team that everyone has to play multiple roles within the company — and some roles will be cool, others not so much. On Monday mornings, I like to go around and ask team members whether they need their mugs cleaned. Sure, I like to clean, but also I like to demonstrate that I am not above playing the role of a dishwasher.”

Eric Bahn | Co-Founder, Hustle Con Media

Make a Championship Belt

“Create fun ways to reward employees. I give my employees a championship belt to place on their desks when they do something exceptional for the company. You will be able to get top performance from your employees by showcasing unique rewards.”

Decorate Your Work Space

“Boring work spaces make boring and less productive employees. Finding decor that you can afford and will motivate your staff might be tricky, but it is a proven fact that work performance is enhanced when employees are inspired and energized by their surroundings. Inspiration comes in many forms, so make sure your decor is consistent with your business goals.”

Erika London | Co-Founder, iAdventure.com

Get Barefoot in the Park

“Think about it: a person takes off his shoes when he gets home and gets comfortable, which is the exact atmosphere that helps early-stage startups succeed. Early employees need to feel at home at the office, and they need to bond with their teammates like family. Don’t allow shoes at the office, and employees will stay later in the night and build a closer bond with their teammates.”

Jun Loayza | President, Ecommerce Rules

Work in Corporate America

“This may sound weird, but it’s true. It’s wise to learn and make your mistakes on somebody else’s watch before risking everything on your own. And if you don’t have the right business skill set to start, launching your own company is going to be an uphill battle.”

Alexandra Levit | President and Founder, Inspiration at Work

Encourage Daily Siestas

“Approximately seven hours after waking in the morning, we experience an energy drop that prevents us from working effectively. This is the perfect time to have a post-lunch, 20-minute catnap; studies have shown that midday napping can significantly improve performance. Some employees might feel uncomfortable napping during the work day, so lead by example and take a nap every day.”

Emerson Spartz | CEO and Founder, Spartz

Get Over Yourself!

“Get over the fact that you are going to turn off a lot of people while running your startup. That includes your family, friends, prospective investors, prospective customers, media, etc. Once you do that, a great majority of the weight you carry while trying to run your startup dissipates.”

Carmen Benitez | Co-Founder and Managing Director, Fetch Plus

Don’t Try to Boil The Ocean

” It’s a great visual analogy, and it perfectly encapsulates a major challenge for any startup founder. You’ve got to take the challenge on, one gulp at a time.”

Brent Beshore | Owner/CEO, adventur.es

Give Time to Other Startups

“I’ve spent 10 hours a week over the past two years “advising” startups — formally or simply as a sounding board or beta tester. It’s great to have tunnel vision with your product, but supporting others has a few incredibly positive effects. You’ll meet very interesting and skilled people who can help you, and you’ll uncover clever ways to solve your own challenges.”

Aaron Schwartz | Founder and CEO, Modify Watches

Take a Vacation

“Really, take one. When you leave your team to execute on their own, you’ll see where all the holes in your company are, and then you can work on patching them. You should be able to leave your company for a few weeks without them needing you.”

Don’t Live With Co-Founders

“Don’t live with your co-founders. When you’re part of a startup, you’re likely spending 15-20 hours a day with your co-founders. It’s inevitable that they will start to irritate you. If you have to spend your precious four hours of free time with them too, you can add their snoring problems to the mix!”

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.

At this national startup conference (that even you can afford) You’ll get great startup advice too!

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Is Your Unpaid Internship Program a Good Idea? 6 Legal Considerations

Guest Post, YEC, Interns, Unpaid Interns, Startup Tips, Startup Legal QuestionsAccording to the Bureau of Labor Statistics, the unemployment rate is especially high among college students and recent graduates. For those unable to find paid work, an unpaid internship might seem like a useful way to gain valuable experience, recommendations and even future job placement. Likewise, for cash-strapped startups, the idea of getting labor without having to trade liquidity or valuable equity can be too appealing to ignore.

However, there are some very serious legal considerations every for-profit company — including startups — must be aware of before attempting to hire unpaid interns.

Under federal law, every employee in America is entitled to a minimum wage, additional compensation for overtime and certain other benefits. The employer must also consider worker’s compensation, discrimination laws, employee benefits, state labor laws and unemployment insurance coverage. In order for these requirements to not apply, the employment relationship must fall under applicable legal exemptions.

In the case of Walling v. Portland Terminal Co., the United States Supreme Court held that one such exemption to the federal requirements exists for people who work for their personal advantage rather than that of their employer. Such a person may be considered a trainee instead of an employee for purposes of federal law. In this seminal court case, the Supreme Court looked to six factors in deciding whether a work program was for the intern’s own educational benefit or the advantage of their employer.

Here are the six factors considered by the Court:

  1. The internship, even though it includes actual operation of the facilities of the employer, is similar to training which would be given in an educational environment.
  2. The internship experience is for the benefit of the intern.
  3. The intern does not displace regular employees, but works under close supervision of existing staff.
  4. The employer that provides the training derives no immediate advantage from the activities of the intern; and on occasion its operations may actually be impeded.
  5. The intern is not necessarily entitled to a job at the conclusion of the internship.
  6. The employer and the intern understand that the intern is not entitled to wages for the time spent in the internship.

The DOL has taken the position that for the exemption to apply, all of the factors listed above must be met. While some of the above requirements may be covered by an effective agreement, those that are subjective create a substantial burden on a company looking to hire interns to create a substantive program that meets these criteria.

The key takeaways for anyone looking to hire unpaid interns is that you need an appreciation for the nebulous area of the law you are entering, understand the difficulty of complying with the Department of Labor’s specifications, and finally, ensure you do all you can to be in compliance with the law.

Peter I. Minton is the founder and President of Minton Law Group, P.C. His practice focuses on the representation of startups and emerging businesses in business transactions, capital raising, corporate governance and general corporate matters. Prior to founding the Minton Law Group, P.C., Peter attended the University of Pennsylvania and Georgetown University Law Center. Upon graduation, he began his practice in the mergers & acquisitions department of a large New York City law firm where he represented private equity and hedge fund clients in a diverse range of transactions. He is a admitted to the New York bar.

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.

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5 Ways Your Startup Should Be Using Video

Guest Post, Startup Tips, YECI started “producing” my own videos when I was 8 years old. From the time my sister and I were deemed old enough to hold the family camera without breaking it, we were hooked on the wonders of video. Back then, polished videos were still a luxury. I never would have guessed that consumer-level cameras would soon fit in my pocket, or that video would become such a powerful piece of my own business.

I recently got together with my friend and fellow entrepreneur, Ariane Fisher, co-founder of the crowdsourced, cloud-based Storymix Media, to brainstorm a few of our favorite ways to use video to save time, pump up marketing and improve business practices:

  1. Use video to train new staff. Most of our staff works remotely, so we don’t always have the luxury of sitting down with new team members to walk them through training. Instead, we use Camtasia, a screen recording software, to record ourselves walking through our processes step-by-step. When new team members start, we have a dozen videos that they can watch. These videos don’t have to be perfect and polished, as long as you can get your point across.
  2. Use quick video tutorials to help clients understand complex topics. Most of our clients have hectic schedules, so we often use Camtasia to record short screen recordings in place of web conferencing. We simply send them links to private videos that walk them through specific concepts, and they can watch the videos on their own schedules. “Video tutorials are a great way to provide value to your existing clients,” says Fisher. “At Storymix, we use video tutorials to help clients get creative with our product and use it in ways they hadn’t considered.”
  3. Use video to bring testimonials to life. A written testimonial is a powerful marketing tool, but a video testimonial is even more credible. “Testimonial videos seem more authentic to prospective clients than written reviews,” says Fisher. “They don’t have to be daunting or intrusive; they can be filmed in the comfort of your client’s home using their webcam. You can schedule a phone call with them after delivering your product or completing your service. Talk with them for a few minutes about what they enjoyed most. Then ask them to hit record on their webcam and keep speaking with them in an interview style.”
  4. Create a short value proposition video for your website. Your value proposition is your promise to potential customers. Use a video on your website to quickly and clearly explain the benefits of what you’re offering. As Fisher puts it, “Explainer videos are super hot and a quick way to explain your value props to prospective clients. You can hire high-end professional services, or even go the DIY route and create your own explainer video using your existing footage and a voiceover with a USB mic.” Check out an example from her company on YouTube.
  5. Use video to make yourself more visible in search engines. YouTube is the second-largest search engine in the world. “Google owns YouTube and places higher value on inbound links from their own platform,” says Fisher.

Whether you’re using video to communicate among your own team members or to complement your marketing, the most important thing is that you set aside time to jump in and start experimenting with it. Video is becoming a powerful part of modern business—if you’re not using it, you’re missing out on endless opportunities.

Allie Siarto is the co-founder of Loudpixel, a social analytics company focused on social media monitoring, insights, measurement and infographics. She also runs a project called Entretrip, a co-traveling experience for location independent entrepreneurs, and a digital marketing innovation podcast called The Apt Marketer.

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.

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3 Startup Lessons From an NFL Coach


YEC, Guest Post, Startup Tips, Startup Tips from an NFL CoachWith the 2013-14 NFL season kicking into full gear, and as I settle into my Sunday ritual, I’m reminded of why my hero, head coach Pete Carroll of the Seattle Seahawks, is just that — a hero.

Since he took the reins in Seattle in 2010, Pete’s taken a below-average team and turned out a Superbowl contender. His leadership style can be applied to a startup and to leading a company. There is a lot to like:

“Do it better than it has ever been done before”: Pete inspires his team and his program to “do it better” than ever before. He believes this mantra at his core. I know I can certainly do a better job of evaluating, optimizing, and maximizing every area of production in my business.

So can you. Once a year, make sure to break down every aspect of operations — from your cleaning service to board meetings. Evaluate how you can do better than anyone has before.

“Be different”: The Seahawks leadership has specifically looked for players with unique skills and traits. They then put them in a position where they can take full advantage of their strengths and minimize their weaknesses. Through this process, the Seahawks have acquired a collection of players that others didn’t value as highly. These players were able to fit together to perform at a very high level.

With the market for technical talent as competitive as it is, part of the challenge for a successful startup and technology company is to think outside of the box. Who are the right types of people and what skills should you look to hire for? With a specific salary amount available, it is critical to use dollars to achieve maximum output. What are the people and skills that are undervalued but can add tremendous value when put together?

“Compete”: Competition is about setting up an environment where people are driven to perform to their maximum ability. Doing this while retaining team camaraderie and spirit is difficult. I believe Pete has done an excellent job of communicating the purpose of internal competition – to make each player better. Grading games and practice tape, comparing players, and completing detailed evaluations naturally creates a meritocracy. Pete believes that if there is an available player who will improve the team, it is his responsibility to make a change in order to make the team as competitive as possible.

The takeaway: Set up an environment that requires everyone to up their game each day. Use data and transparency to show your employees how they are performing, and be very clear that it is your responsibility to use the limited number of positions and expenses to make the best company it can be.

And with that … Go Seahawks!

Matt Ehrlichman is the CEO of Porch, where you can get inspired by the best home projects your neighbors have completed, see what any home project will cost, and find the best service professional your neighbors and friends recommend. Previous to Porch, Matt was a founder and CEO of Thriva (acquired by Active Network) and Chief Strategy Officer of Active Network (2011 IPO). Matt lives in Seattle, WA.

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.

YEC founder Scott Gerber keynoting at this huge startup conference for startups “everywhere else”