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.
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...
Modern Mentorship Model
"Because this is the first digital generation, aspiring entrepreneurs have an opportunity to use social/mobile software they’ve grown up with to build a network of people navigating their careers together...
Promising young entrepreneurs from YEC weigh in on what questions to ask a mobile web developer.
Show Off Some Success
"What accomplishment are you most proud of? Ask a developer how they overcame a tough problem and made it...
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...
FOOD STARTUPS SOUND DELICIOUS
"In fact, I almost did start this business, but I changed course. This would have been a service of meal planning, making shopping lists, buying the food you need and delivering it to your door....
As a professor of social entrepreneurship and an entrepreneur, people often approach me with all their ideas. They get overwhelmed with how to start choosing their first venture (or second, for that matter).
How do you...