The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
Where can young entrepreneurs (who may not have big networks yet) find mentors?
At Volunteer Events
"Any community is bound to have startup organizations devoted to helping. Call those people up and volunteer to do logistics, take...
When Pets.com collapsed in November 2000, it took 300 million dollars in investment capital with it. In doing so, it became the poster child for everything wrong with the dot-com boom. While there are a number of reasons for...
If you've raised startup capital from family or friends, what is one tip you'd give a fellow entrepreneur to make sure the deal doesn't affect the relationship?
Under-promise and Over-Deliver
"Set extremely clear...
Advice - What's your best advice for a fellow founder looking to recruit top engineering talent?
Include Them in Decisions
"Top engineers are more than coding machines. They often have valuable insight into the production and usability of...
What one must-have tool should small businesses include in their marketing campaigns when launching a new product? (Events, pop-up shops, swag, social media campaigns, etc.)
MAILCHIMP IS A MUST
"For every new product...
What's one quality you should look for in a potential advisory board member? Why?
"The best advisors don't just tell you the answer. They know that they don't know the answer, and the best way to help is to...
What do you feel are the absolute essential legal documents needed for every startup?
"Many conversations will need to begin with a signed NDA on file. It's ideal to have this document ready to go for any...
Learn why entrepreneur Kathryn Minshew vows to never make these 3 startup mistakes again.
When you start your first company, you may think that it’s okay to let some less-than-perfect aspects slide. Or, maybe you think that the...
Advice - What's your best piece of advice for a very young entrepreneur with little to no experience about how to pitch their idea for the first time?
Pitch the Problem
"The worst thing you can do is pitch a solution for something no one...
Name one awesome feature film that showcases entrepreneurship. Even if it’s not completely accurate to the hardships of the startup journey, what about that movie is a true takeaway?
"Although it is historical...
ALWAYS TRY AGAIN
"Seven years ago, I was at a barbecue talking to a family friend --and I was in a funk. The startup I had co-founded just 9 months earlier had gone belly up. The family friend (a successful entrepreneur) gave me...
Advice - What’s a Brilliant Offline Resource Entrepreneurs Can Use to Build Their Personal Brands?
PACK ON THE PRESS
"For us, the best way to build brand offline has been by engaging traditional media. Whether that means doing an...
Advice - What’s your #1 tip for raising your target funding amount using crowdsourcing?
REWARD THE MEDIA
"With a compelling offer to your backers, anticipation is built, and a great story is created. You'll attract more backers...
Name one thing you wish you knew about money and finances while starting up. Did it lead to a mistake?
SAVE SOME FUNDS FOR LATER
"Getting money in the door is great, but high expenses can blindside you if you're not putting...
Advice - What's your top recommendation for an entrepreneur pitching investors, based on you 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...
KNOW HOW TO WIREFRAME
“Being able to wireframe a page is an incredible important skill for technology development. It’s critical for being able to properly and ideally communicate with your technical and product teams. While...