Most New Businesses Fail — How to Make Sure Your Team Succeeds

Statistics don’t lie.

That’s not right. They lie all the time.

In this case, however, it is true most new businesses fail within five years. One of the keys to making sure your firm succeeds is building the right team.

You can’t get there if you don’t have the right people. Hire for aptitude and then find the right slot for them. Base your key positions on a typical heist movie. You’ll need:

The Brains – lays out the whole operation. This may or may not be you.

The Brawn – call that guy with no neck you knew when you did a little stretch upstate for something you can’t talk about.

The Tech Nerd – this is the girl that will keep you on the cutting edge of technology, and show up ever day with a new tattoo.

The Love Interest – yes, your significant other plays a major role in your success. Don’t have an SO? Tinder is your friend.

The Wheelman – you need a genius behind the wheel, somebody that can get you out of a tight situation when chaos ensues, which it will. In other words, you need a great driver to pick up sandwiches, coffee and those little airplane bottles of vodka.

The Money – you don’t see her often, but this wealthy investor is keeping you afloat. Most days you’ll feel she is just toying with your little ship. You are right.

Get these positions right, and your company will do better than you ever expected.

7 Hottest Silicon Valley Startups

There are a lot of crazy ideas in the Valley. But you never know. Who knew Twitter would be a hit — 140 characters? Come on!

With that in mind, consider these hot startups and see which one you think has the best chance to make it big.

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Nantucket Historical Society

 

 

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Courtesy Library of Congress via Flickr Commons
Courtesy Library of Congress via Flickr Commons

 

 

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Courtesy Florida Memory
Courtesy Florida Memory

 

 

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Courtesy Florida Memory
Courtesy Florida Memory

4 Mentors That Every Entrepreneur Needs In Their Back Pocket

We all hear stories about people who achieved success alone, guided by their wits and cunning. Forget it. It’s a myth. Every successful person had plenty of help along the way. Here are four mentors you’ll need if you want to achieve entrepreneurial success.

Light Bulb Adviser

This mentor tells you the correct lighting you’ll need at your desk or table.

Oil Change Timing Consultant

You’ll be putting lots of miles on your car. This consultant will remind you to get the oil changed on time.

Humility Checker

Getting too cocky will kill your momentum. This advisor tells you, “You are not as good as you think you are,” or “your competitor works harder than you.”

Pants Break Expert

Is your pants break too much or not enough? Should it be a slight break or a deep break? This expert keeps your pants break up to par.