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Startup Basics

The 7 Deadly Sins of Growth Companies

Exiting startup mode and transitioning into the growth phase can be a trying experience for entrepreneurs. Growth companies are beyond the white-knuckled survival days and playing a different game. There’s a lot more to know — and a lot more on the line. With that transition to the growth phase comes a whole litany of potential pitfalls — what I ...

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You Can Never Elude the Shark, But You Can Learn to Swim With It

I’m unpacking my “desk box” in our first real office — an executive office space — and a vague anxiety grows stronger. It is 1991 and my company, Product Data Integration Technologies, was growing rapidly — within just a few short years we would make the Inc. 500 — and I felt like something big and ominous was stalking me. I told my partners, “I ...

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5 Things to Know If You’re Starting a Business Under 30

So, you’ve decided to start a business, even though you’re young and don’t have much experience. That’s okay — in fact, it’s better than okay. There are a ton of advantages to starting a business in your 20s and 30s, including higher long-term potential gains and (generally) a higher level of energy and enthusiasm. Related: 63 Businesses to Start for Under $10,000 However, before ...

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Here Are 4 Things I Would Have Done Differently as a Founder

Birthdays are a great time for reflection. The startup that I co-founded in 2012 turns 4 this month, and I’ve decided to look back on the past four years and ask myself: If I could do it all again, what would I do differently? Related: What’s the Secret to Startup Success? Timing. What decisions would I make? What would I spend my ...

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4 Ways to Stay Motivated and Grow Your Business

The following excerpt is from Michael Glauser’s new book Main Street Entrepreneur. 1. Revisit your purpose It’s important to constantly revisit the reason why you started your business. Make sure it’s still engaging. Decide if it needs to be altered or amended. Reflect on other compelling reasons for building your business. If you fail to do this at regular intervals, ...

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You Can’t Expand While Your House Is on Fire

Building a business or product offering is comparable to building a house. First you lay the foundation, then the rough carpentry, roofing, plumbing, electrical, HVAC, drywall, flooring and finishings, in that order. God forbid you try to install the plumbing after the drywall has gone up, otherwise you will have to rip it all down and start again, at double the cost. And, unless ...

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How 2 Reebok Execs Rebooted to Launch a Shoe Startup

Marcus Wilson and Michael Schaeffer had big careers in the athletic shoe business: Schaeffer was Reebok’s global creative director, and Wilson was its head of brand strategy. But two years ago, they jumped to the opposite end of the market: They became the little guys, launching a shoe startup called NoBull that caters to CrossFitters. They now sponsor four CrossFit celebrities and ...

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