A startup's success is heavily influenced by its team and cultureRead more...
No. 1 mistake: Committing to specific timelines
Entrepreneurs often choose the path of innovation, without realizing the kind of lifestyle that comes with it. They will often live unstable lives.
Within our community, you will find talented innovators.
Today's entrepreneur is Darryl Ballantyne, founder and CEO of LyricFind and AdProject. According to his VEQ (Vator entrepreneur assessment test), Darryl is good at negotiating and networking, and is a thought leader.
I Am: An Entrepreneur
I want to build success and add value to the world.
Groupon, Kayak, Uber, Slacker
Frustrating: Slow pace of dealing with large companies that can't move as quickly as we can.
Rewarding: Putting my signature on a big contract with a great client or supplier.
Committing to specific timelines. Too often early on, we expected things to happen when people said they would - nobody works on your timeline, especially when you're a startup! And even your own teams internally will underestimate the time it'll take to build new things - because they're new!
1) Choose who you work with carefully, and get proper protections in place. You'll spend more time with them than anyone else in your life!
2) Cash is king. Save pennies everywhere you can - money is what keeps you going and gets you through when that contract doesn't get signed when you thought it would.
3) Be willing to do any job to get the company through - and only hire people of the same mindset. And remember, hiring the wrong person is way more costly than not hiring the right person.
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Read more from our "Today's Entrepreneur" series
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Without your team your dream goes nowhereRead more...
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LyricFind provides song lyrics content to digital music services, web sites, mobile services, and more. LyricFind has aggregated licensing from over 2,000 music publishers (including all major publishers), resulting in a catalogue of over 1,500,000 available tracks.
LyricFind provides both Lyrics Search and Lyric Display services to companies of all sizes and types, in both free and paid models.