#entrepreneurfail: A comic about the ironies of entrepreneurship and startups

It's a jungle out there.

This may be the only zoo most familiar to those in the startup world - let's call it the Entrepreneurs Zoo! Just coincidentally, many of the vendors, services and products, we (and other entrepreneurs) use in starting a business have "animal" names. We've used many of them, and here is a line up and maybe one of them can help you.

Web Development and Technology

HostGator - affordable web hosting solution
Safari - easy-to-use browser iDevices OS X Mountain Lion - Comes standard on all Macs
Grasshopper - affordable cloud-based phone and IVR solution

Marketing

MailChimp - simple interface to send out your email campaigns and build a list.
MOO - on-demand business cards, stickers, and stationary to promote your business
SurveyMonkey - customizable forms to poll customers and analyze that data

Miscellaneous

Shark Tank - TV show with ventures vying for funding
Task Rabbit - reliable outsourcing of some of your daily tasks
Red Bull - instant energy to keep you up in those long nights

The #entrepreneurfail part of this is that aspiring entrepreneurs may want to just use a service or a vendor without assessing business needs and ROI and end up wasting time and resources. Make sure you do your due diligence and choose only vendors that will grow your business.

Did we miss any "animalistic" resources and tools for entrepreneurs in this animal kingdom? Let us know in the comments below.

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A recent article stated that financial reasons are the cause of 80% of startup failures. This makes sense since everything costs more than anticipated in a new venture. Especially for those jumping to a startup from a corporate role, there will be plenty of surprises as the corporate role probably provided "extras" as a part of the job.

Often-Overlooked Expenses
The following are some of the easily-forgotten costs sapping your piggy bank when pursuing your own venture:

Opportunity Cost
Healthcare
Self-Enrichment
Networking
Premium Business Banking
Tax Services
Premium Subscriptions
Phone
Loans
Business Development Costs

Money in Hand
Additionally, many entrepreneurs dream and speak in revenues instead of profits, which is a huge #entrepreneurfail. I wish I had realized this earlier when I provided a service that barely broke even. And that didn't even take into account my time and travel costs.

What to do?
The moral of this story is to AIM BIG - It is not worth pursuing a business that may only make a fraction of your past salary. You need to pursue a sustainable venture, not just a hobby. Sure the new business may make you happy in other ways, but remember all the costs and the fact that it sometimes takes 2+ years to even get something off the ground. You have to decide if a small-scale business is worth your time.

Were you surprised by all of the startup costs when you started pursuing your own ventures? Tell us about it in the comments below.

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It can happen anywhere - in a public bathroom, on an airline, at a cocktail party. You don't want to be caught clueless and of course you don't want to lie. What will you do when an influential person (maybe your next investor) questions you about your business numbers?

These queries are inevitable and of course you should only answer them on a need-to-know basis:

"How's your business these days?"

"Are you breakeven yet?"

"Is this new technology worth it for your business?"

"What's your price point compared to your competitors?"

For those quant superstars out there, these questions don't result in even a sweat. However for those entrepreneurs out there who aren't focusing on the numbers, here's how to prevent a real #entrepreneurfail.

Even if you are a self-declared "soft" entrepreneur and have team members and employees who handle the metrics side of the business, there are a few basic numbers you have no excuse in not knowing off the top of your head.

Your Product/Service:

Current and previous revenues
Future revenue estimates and confidence level
Total costs = Fixed Costs + Variable Costs
Breakeven volume = How much do you have to sell a year to recoup your costs
Profit = Difference between your revenues and costs
Margins = How much do you make per unit sold
Total Debt (How much and who owns it)
Total Equity (How much and who owns it)

Competition

Size of market in revenue and/or volume
Size of closest competitor in revenue and/or volume

Sales

Return per Employee = Total Sales / Total Salaries Paid
Return per Customer = Lifetime Customer Revenue / Customer Acquisition Cost

Extra Credit Metrics:

Perceived Time Worth = The rate you are charging for your time e.g. $200/hour.
Actual Time Worth = Actual profit you are making/hour. The goal is the align this with the Perceived Time Worth.

Know these numbers like the back of your hand. (In fact write them on the back of your hand so you'll never forget them!) You never know when having these numbers handy can make or break your business.

Did we miss any metrics? What are the figures you immediately know about your company? Tell us what they are in the comments below.

Shhhhh...Keep it under wraps!

A friend of mine left his corporate job a couple of years ago to pursue "a revolutionary idea", as he called it.

"What is it that you are are working on," I inquired, never once assuming this benign question would cause him to get fidgety.

He responded with a vague topic. Many months later he told me, “I didn’t want to tell anyone about my idea for fear that someone would steal it – too bad this made me sound really cryptic and weird at cocktail parties.”

Entrepreneurs too often hold their ideas much too close to their bullet-proof vests. Considering themselves more entitled than a secret service agent, these entrepreneurs live in the fear of idea theft and take it upon themselves to protect their idea at all costs!

So what are these "secret service entrepreneurs" missing out on?

Feedback
Growth
Potential Investors
Time
Future partners
Looming competitors

In a corporate job, you’re generally open and pretty pumped up to share the details of your work: the kind of work you do, the people you work with, the amazing Casual Friday policy!

In a startup however, a veil of secrecy takes precedence, with your lips zipped so tight you make the CIA jealous. People who are seasoned veterans or who just have some great ideas for you can really help your business. In fact, promoting your idea will more than likely help improve it, giving you an even better shot at success than your hush hush mode. As soon as you realize that feedback and promotion of your idea will actually improve it, you’ll have a better shot at success.

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"Cheating on Your Corporate Job: A Comic Look at the Startup Dream"

by Kriti and Shivraj Vichare, the creators of #entrepreneurfail

Psssssst. Hey you! Yes, you… the one reading this. We know who you are.

You’re one of us…

The kind of person who is just itching to make the leap from your cushy (or maybe NOT so cushy) corporate job into the world of startups.

And don’t go trying to deny it. We caught you, walking around the office, talking to yourself under your breath, saying stuff like…

- “I just want to take charge and do things the way I want to…”

- “Oh please… I’m sure I can make more money with my own business than in this place…”

- “I am soooooo bored at work. Sleeping with my eyes open is a great skill, but this is ridiculous…”

- “I can be my own boss. In fact, I’d look good sitting behind a big desk, making really big decisions…”

- “There has got to be a better lifestyle than this 9-7 grind EVERY SINGLE DAY.”

You know what? We don’t blame you one bit. Because there is something to be said about living your passion, earning money doing it and making decisions with no one but yourself to answer to.

Of course, there’s also the long hours, scouring the planet in search of customers, and sometimes, eating leftovers from the leftovers from last week.

And surely SOMEONE told you it wouldn’t be as easy as starting a business then becoming a multimillionaire overnight. Right? RIGHT? Hmmmm… we need to have a talk.

Whenever we speak to entrepreneurs who have left the corporate rat race to pursue their own ventures, their experiences always echo our own. Sure, new small business owners expect more ownership, additional flexibility, less bureaucracy and longer hours. However, the biggest surprises will probably involve job satisfaction, getting a product to market, and organizational structures.

Our goal is to create a way for you to look at the inside from the outside, to help you decide whether or not this is the road you want to take or if you’d rather stay at your job, sleepwalking through your days and blowing drool bubbles as you watch the clock slowly tick away to 6 PM. But in all humility, and jokes aside, we respect that in the end, you – and only you – can decide which path is right for you to take.

Knowledge and preparedness is power. Download our book: "Cheating on Your Corporate Job: A Comic Look at the Startup Dream" to help you decide where you belong.

Check out some coverage we got for the book here.

“It’s not a good thing when vacation is even more mentally and financially more stressful than your day-to-day life.”

Start the vacation countdown. In a corporate job, vacation days are literally vacation days– you get to unplug from the demands and stresses of a job (you might even find a way to make your company cell phone ‘disappear’).

And don’t worry: your job will still be there when you get back. You’ll be all relaxed, refreshed, and maybe showing off your suntan to your co-workers. What’s the best part? You get paid to take your vacation!

If you have the time to take a holiday from your startup, on the other hand, be careful about leaving all the work behind. Unless you have automated streams of income that don’t require you to be on call, you may come back to a closed shop. Remember though, even though you don't want to get stuck in this #entrepreneurfail, some rest and relaxation is necessary to run your business, but in small doses.

Key Startup Lesson: Vacation comes at a price, but remember, a work-life balance is essential to sanity.

Enjoyed this comic? Find many more in the book Cheating on Your Corporate Job: A Comic Look at the Startup Dream

"But when are you going to launch the printed version of the book? I still like leafing through a physical books. It's unfortunate that you are only launching an e-book."

Sure, the thought of launching a print book crossed my mind before I published my recent ebook. However, I was surprised how many times I received the above reaction after my book launch.

Why Launch a Book at all?

Entrepreneurs (or anyone in general) can gain credibility and outreach by writing a book. If you have a story or even simple lessons to share, chances are someone wants to read it.

Why Launch only a Digital Book instead of a Print Copy?

Although, the feeling of flipping through a crisp book with vibrant images never gets old, there are specific strategic reasons to select a digital-only printing, at least for the first book. The reasons I decided to initially only launch an e-book include:

Inventory Management - I spoke to and heard from various authors who regretted printing their books! The minimum order quantities of printing to get a good price for your book can be huge. Imagine printing 10,000 books, but only have demand for selling 1,000! This is an #entrepreneurfail. There are print-on-demand services available now, but the prices are still hefty.
Making Updates - Found a typo? Making changes and then reprinting thousands of books doesn't make sense. Digital changes can be made quickly.
Distribution - To maximize the spread and sharing of your book, digital is the way to go. You'll thank me when you get downloads from China, Nigeria, and Brazil all on the same day!
Portability - Readers have the option to read on their e-book reader, phone, tablet, or computer. This means that some version of your book is ALWAYS with them.
Feedback - Since the book is available digitally, readers can provide feedback with a click of a mouse, without ever leaving their book.

So in the future, will I ever launch a physical book? It's possible, but in the meantime, the digital way is the ideal way to spread my ideas!

Have you launched a book? Which route did you decide to go? Do you prefer reading physical books or digital ones? Let us know in the comments below.

It's that time of the year again. You'll see a million posts and articles about what to do and how to make this new year more productive. In the midst of all the hacks to stay on track, we want to share with you what the clueless entrepreneur is planning for this year.

Last year, the clueless entrepreneur was all talk, with nothing to back it up with. So this year, the clueless entrepreneur will be dialing it down a bit, peppering in a little work to change the "fluff to stuff" ratio. Little does the clueless entrepreneur know is that unless there is an actual foundation, hustling will accomplish nothing.
The clueless entrepreneur wants to be the brand he/she has created. "Be the brand" to them is to embody it, wear it, sleep with it, tattoo it - yet it is irrelevant what the customer thinks. The clueless entrepreneur does not think about brands and products in the long-term. He/she will soon find out that will be a problem.
The clueless entrepreneur has seen that doing free work will result in sales. However, what he/she didn't take into account was that each bit of free work must have a return on investment. The clueless entrepreneur blindly and indiscriminately does free work for anyone who needs it. Will he/she burn out by next year?
The clueless entrepreneur loves the word 'pivot'. Throwing it around sounds deliciously cool and valley-ish. He/she doesn't really know that pivoting is the result of strategic assessment of potential customers, and not just a whim. Also, the clueless entrepreneur should know that pivoting too often is a waste, and indicates that the previous pivots were not carefully thought through.
"Faking it" is music to a clueless entrepreneur's ears as he/she doesn't have too substance to take their business to the next level. In order to create revolutionary services or products, some level of expertise must be there. Too much faking will indeed cause aching.

A very happy new years to everyone! Cheers to no more clueless entrepreneurs!

What are your new years resolutions? Share them with us below? Have you made any of the mistakes that the clueless entrepreneur did?

Take that exit now!

There are many similarities between learning to driving a car and becoming and entrepreneur.
Getting behind the wheel vs. Learning how to start a new company: both options can provide a ticket to ultimate freedom!

Here is our line-up of why entrepreneurship is like driving a car:

It takes a while to learn, but once you get the hang of it, you can apply your skills to other cars. Similarly in starting a company, once you know the basics about what works, subsequent ventures are much easier to tackle!
You have to learn all the signs and signals really well, and know how to act upon them in real-time. 360 degree awareness is really important for both driving and entrepreneurship.
You have to have a map or a plan or a GPS. If you don't know where you are going, you'll probably never reach. Don't be afraid to make a u-turn.
Keep refueling as necessary. This is a necessity because you don't want to stall in the middle of nowhere.
You're responsible for those coming along on the ride. You better make sure that everyone on board with you knows about the length of the trip, the bumps along the way, and the pitstops. The more drivers you can share the responsibility with, the easier the ride is going to be.
Distractions are lethal. 'Nuff said.
Periodically check to see all systems are up to date. You have get a tune up every now and then to ensure you don't get rusty.
You should change gears based on the terrain. Your driving style should adjust accordingly.
Accelerate to keep up with the cars around you. You have to constantly assess your surroundings to see if you are falling behind. You may need to brake for roadblocks and speed bumps.
It's inevitable to compare yourself to the guy driving next to you: for example, the speed, and the type of car. Ignore, and keep on driving!
Be prepared for traffic jams as they can mess up your whole day.

The good news is you don't need a license to drive on startup street. So rev up your engines, check your mirrors, and GO! Don't forget to stick your head out of the window to feel the cool breeze once in a while.

Let us know if you agree - is learning to start a company like learning to drive a car? Did we miss any analogies? Let us know in the comments below.

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The term "wantrepreneur" may have a derogatory connotation, indicating someone is wannabe entrepreneur. I think every successful small business owner was once a "wantrepreneur, " so it's not really a bad thing to be a "wannabe" for a bit.

Now, when a "wantrepreneur" claims to be an entrepreneur - that's when the trouble starts!

So here is a little pop quiz to see where you stand and you let us know if you have been truthful. Please tally how many of these refer to you:

10. I love missed opportunities.

9. My business is not my baby.

8. It’s all about me.

7. I can shut out the world on vacation!

6. What a cushy job!

5. I’m so bored!

4. Keep the change, IRS.

3. Luck has nothing to do with it.

2. There are plenty of hours in a day.

1. What’s a little equity between friends?

If you checked more than 8, congrats, you are a “Wantrepreneur”! This is fine - especially if you are at the beginning of your journey. Just don't stay here too long and get stuck.

You may love the concept of owning a sustainable business, but you aren’t quite there yet. You are not convinced about the idea and business model you are working on, so you are procrastinating.

You perhaps aren’t ready to leave your day job and you are unexcited by about any potential opportunities that come your way and enjoy the “relaxation” and flexibility that entrepreneurship provides. Or perhaps you are working on a business, but you may by trying to do it all yourself. Financially, you do not equate time with money yet. Don’t worry, with some months, effort and learnings you may actually be an entrepreneur!

If you checked 2 or fewer, congrats, you are a bona fide entrepreneur!

You strive to get find every opportunity. You know that luck can help a business but opportunity and perseverance make it happen. Nothing is dull for you as you pursue your venture.

You know this is not a ride for the freeloader. As an entrepreneur, you are productive, and know that sometimes sacrifices are necessary to make your business a reality. You feel your business has to be an extension of you, just like a baby! It does take an army, a village, and a team effort for your to accomplish success in your business.

Keep pushing ahead! We know we’ll see you on the cover of a magazine one day!

What was your score? Do you agree with our assessment of being a wantrepreneur? Let us know in the comments below.

Pursue your passion…and you'll never work on your passion a full day in your life…

Wait…that's not how the old adage goes, is it? Isn't it true that you if you work on something you love, your'll never work a day in your life? What's this about not being able to work on your passion?

Well the truth is, while there are benefits in pursuing your avocation as a vocation - you're not going to have too much time to work on that passion when it becomes a business. You don't get paid for just pursuing your hobby! You get paid for distributing and selling your passion.

Freelancers know this all too well. Say you have a talent that you want to share and monetize: Baking? Web Development? Design? As you start offering your service, the most of your time will not be working on your expertise. The reality is that business development, marketing, sales, finances, tech support, and other day-to-day activities will take a longer portion of the day than the actual skill you are offering to clients. Also, many solo entrepreneurs have a side job to help make ends meet as they are growing their businesses.

Another example comes from someone who is creating a product to pursue his/her passion. For example, your passion may be creating sustainability and green products and you have decided to launch a line of products for interested customers. The majority of your time will not be involved in creating the eco-friendly products - rather you will be busy with market research, customer buy-in, go-to-market strategy, etc, etc. Eventually, as the business scales, and you add more new hires, this balance will tilt in your favor.

For bloggers, Derek Halpern from Social Triggers says most spend 80% of their time creating content and 20% promoting it; these proportions are exactly the reasons why most bloggers fail. He claims that the most successful bloggers don't spend most of their time blogging! In fact they spend 20% of the time is spent creating content and 80% of their time promoting it.

Similarly, according to Payson Cooper, many entrepreneurs spend their time in the following way (which leads ultimately to a failed business):

65% Developing or working on product/service

25% Business operations

10% Marketing.

However, in pursuit of a successful business, the recommended time breakouts include

65% Marketing

25% improving and developing new products/services

10% on operations.

All in all, the thing to remember is that starting a business involves MUCH more than just your skill set and yes, you will have to wear many, many hats and serve as a jack of all trades for a while.

Did you pursue your hobby as a business? What was your experience? Did you get to spend enough time working on your talent?

If you have to beg…you're probably not working on the right leads.

Planning, executing, and closing the sales for your venture are arguably the most important tasks in starting a business. Too many new entrepreneurs (myself included) decide to go for the gold, and aim directly for customers, without putting in all the work it requires at the beginning.

Here are the biggest mistakes and #entrepreneurfail examples that new entrepreneurs make when working on marketing and sales:

Targeting anyone and everyone and not focusing on a niche: I recently mentored students creating business plans. One student was targeting all women ages 12-65. Would a pre-teen girl want the same product as her grandmother? Probably not! The key is to imagine an ideal customer profile and then find him/her (instead of convincing everyone to become the ideal customer). Here are some good steps to identifying a niche.
Focusing on leads that are not able and willing to pay: I would love to provide free services to everyone I could, but that wouldn't result in a sales funnel. Qualifying leads for ability and willingness to pay is key.
Providing no compelling education in marketing or lead magnet: If you have no way of identifying "hot leads" how will you make any sales? Some examples include ebooks and videos. Here is a great list of example lead magnets.
Forgetting to reach out to people you know to see if they can refer qualified leads: I often forget about my own networks when we start searching for clients. Even if my contacts are not my ideal customer, they may know someone who fits the bill! Here is an email script you can use right away.

For more details about how to generate even more leads, check out this post.

Was it tough knocking down that first lead? Tell us about your experiences it in the comments below.

Now don't get me wrong...I really like Tim Ferriss and his books, hacks, and inspirational goals. He seems to polarize with his material though: either you love his material or are secretly cursing him for making you feel like an underachiever.

This post is a public service announcement for those entrepreneurs who, for many years, have been misinterpreting, misusing, or just missing his techniques from The 4-Hour Workweek. Here are some of the benefits of his books, as well as some of the potential #entrepreneurfail moments related to it, so you can proceed with caution.

Useful Nuggests
Simply put, in all of his books, Tim Ferriss stitches together his knowledge, methods, hacks and accomplishments based on the mini experiments he's conducted and the empirical results he has achieved. For the new entrepreneur there are many little nuggets of wisdom that can be adapted to simplify and succeed as a small business owner.

Caveats and Proceeding with Caution
Here's the problem: Many entrepreneurs assume FAST RESULTS when they hear '4-hour week'. They don't realize that to get to this point, entrepreneurs may have to put in some 100-hour weeks. Don't forget that Tim Ferriss probably still doesn't work a '4-hour week,' since he is probably busy creating the next book for us. Also, if we all just work 4 hours a week, who will be doing the grunt level of work in our society.?

Another issue for us mere mortals, as David Seah admits in his review of the 4-Hour Workweek, that many of Tim Ferriss' recommendations are a challenge to complete. Entrepreneurs are already under so much pressure, so the added pressure of working many long hours, and not seeing the galactic results is overwhelming.

And finally, in the 4-Hour Workweek, Tim Ferriss recommends outsourcing for growing a business. But guess what…you'll find entrepreneurs outsourcing not only the ancillary functions of their business, but also the business development, the secret sauce, and the core business operations. This is a recipe for disaster, and true entrepreneurs know that the key business functions need to stay in-house to truly differentiate and provide value.

All in all, I'm sure you'll get some pointers if you haven't picked up his books yet. Just tread cautiously as you dive into his methods.

Let us know what you think of the books: Four-Hour Workweek, The Four-Hour Body, or The Four-Hour Chef in the comments below. Are you a fan or a skeptic when it comes to Tim Ferriss?

It's an epidemic out there in the entrepreneurial world.

Anyone out there suffering from CAPS (Customer Acquisition Procrastination Syndrome)? Symptoms include the eager urge to work on ANYTHING and EVERYTHING except finding customers to build a new business. Your doctor (or mentor) doesn't need to tell you that building a business is contingent on finding paying customers, yet new entrepreneurs often dive into the more fun, less important tasks first!

Here is a list of symptoms that show that you may be suffering from CAPS. If you have done any of these before or instead of finding customers, you may need intervention:

Are you tackling social media completely manually? Or consuming it constantly? That's probably a waste of time. Get a tool like Hootsuite or find a social media assistant.
Do you have a constant, burning urge to check your stats: Facebook likes, Twitter followers, email list subscribes and unsubscribes. Warning: none of these metrics imply a paying customer! Saying "thank you" to new followers also doesn't guarantee that they will buy your services - if your product is good, they will buy it even if you don't thank them!
Do you find yourself running errands ALL. THE. TIME? Stop! Those errands are detracting you from finding customers! Hire an assistant or a gopher and streamline the unnecessary errands.
Are you bogged down by clerical tasks? Unless that is the core competency of your business, they are getting in the way of finding customers.
Did you find and rent a fancy office space, before you had clients? Um, why? How do you plan to afford that shiny desk?
Are you on a hiring binge - before you have actual work for them to do? It's never a good idea to have idle resources sitting around.
Did you throw a red carpet launch party, before actually finding a customer? You may laugh, but it happens!
Browsing email newsletters, reading blogs, watching videos, and skimming books are all important, but if this is all you do, and you are claiming to be working on a business, Houston, we have a problem.
Did you spend months creating a fancy logo, slick business cards and a fancy feature-and-content-filled website before you were certain about the product you were offering and the customer you were offering it to?
Are you letting daily stimuli sway your day instead of spending the day focusing on building actual leads and customers?
Are you feverishly attending random networking events in the hopes you will meet the right people that may help spread the word about your business? It this is a strategic move, then it makes sense. Otherwise avoid thee events like the plague!

The only cure for this severe ailment is to find your first paying customer! And after that, rinse and repeat as often as you can, every day.

Have you procrastinated in finding a customer? Please share your experiences in the comments below!

I recently volunteered as a business plan coach for high school students through the Network for Teaching Entrepreneurship, and was impressed that each and every student (in a mandatory class) was excited about their potential ventures and significantly improved their skills during the session. Is it possible that every child has the potential to become an entrepreneur?

Scientists have always wondered what characteristics are innate, and what traits can be molded based on upbringing. Are there some indicators of future entrepreneurial success? Seems like the jury is out on that question. There are many successful entrepreneurs that started a proverbial lemonade stand and newspaper route, but there's also a good share of them that launched their first venture later in their ripe middle age. Also, MBA programs are teeming with students hoping to learn the nuggets that will help them endeavor into entrepreneurship.

We've all heard the tales of massively successful startups and their humble roots in a garage, or a dorm room. What if it has even humbler roots in a baby's crib! Many experts claim that although some traits are inborn, others can be learned. In a recent TEDx talk, Cameron Herold talks about how to raise kids to be entrepreneurs. Perhaps some of you current entrepreneurs can relate to the stories he tells and perhaps future parents can plan family activities accordingly. Also, let's not forget that recently, Entrepreneurship Barbie was launched, helping girls envision a life of not only fashionable shoes but also new ventures. It's the age of the "kidpreneur" scream many gurus, and here's an infographic to help attain that goal.

What are the traits and habits that can be developed at any age, young or old, that can foster entrepreneurship? Most experts agree that they are:

Tenacity
Focus
Drive
Discipline
Confidence
Optimism
Calculated Risk-Taking
Network Development
Negotiation and Persuasion

All in all, the one recurring theme that is truly a deal breaker is experience. I think every child and adult has the potential to become an entrepreneur if he/she has the desire to test, try it, and learn from it at least once.

Were you a "kidpreneur"? Or at least showed the traits early on? Or did the startup bug come and bite you later in life? Let us know in the comments below.

My page views doubled last week.
Originally I would have patted myself on the back and celebrated a bit, but not this time. I've learned that I was focusing too much on "vanity metrics".

I first found out about vanity metrics from The Lean Startup by Eric Ries. Some examples of these superficial metrics include indicators like registered users, number of downloads, and raw pageviews. They are easily concocted and manipulated, and often don't correspond to the figures that really matter. Some examples of more actionable metrics include engaged users, customer acquisition, revenues and profits.

Too often new entrepreneurs fall in love with their vanity metrics - myself included. In addition to raw page views, I was constantly comparing my site to random external companies, looking endlessly at metrics like my Alexa ranking. The false sense of success is an #entrepreneurfail. The key lesson is to not focus on the surface metrics that sound good, but instead to focus on concrete indications of business growth.

For those of you who aren't familiar with Snow White, this comic was inspired by the Queen who was so vain, she needed reassurance that she was the most beautiful, even though it wasn't true! Don't get caught in the same trap!

What are some examples of vanity metrics you have fallen in love with? To read more about actionable metrics, check this article.

Poll any entrepreneur - new, old, successful, flailing, product-focused, service-focused, solo or with a team - and they will all say the same thing:

"What I thought, was definitely not what I got", each one would scream in unison.

We've rounded up some of the most common misconceptions and surprises about entrepreneurship for you below. The list may help you be better prepared for the journey.

What entrepreneurs thought, before launching their ventures:

"Money will start pouring in." -Guess what, it only actually trickles!
"Customers would be clamoring for my product and I have to be prepared because my servers may crash." -This is actually a great problem to have - alas it never happened.
"I can handle it alone." -The reality is that no one can.
"I am in control."-Nope, you'll have to deal with the unforeseen everyday.
"Job satisfation is a given since I'll be working on what I want."-It's not a guarantee.
"I'll be an overnight success" -The definition of overnight can be 3,4,5 or more years!
"I'll use all my knowledge from my Big company and MBA."-My previous learnings weren't really applicable.
"I'll just get online and do some social media outreach to grow my company."- Digital marketing is a science and an art, not just a few posts slapped together.
"Cheap labor is great for my small budget."-You get what you pay for.
"I'll be ready to deliver in a week."-It's always at least 3x longer than anticipated.
"I'm launching my own business to be happy, not for money."-Try being happy when your business isn't sustainable.

Did we miss any in the list? Let us know "what you thought, and what you got" in the comments below!

Oh yes, I'm a self-declared, bona fide non-technical founder.

Despite the fact many years ago, my credentials looked like that of a coder, more recently, I insist on outsourcing or delegating the responsibility of anything that smells remotely technical. This allows me to focus on marketing, product innovation and other aspects of business I truly enjoy. Technical onlookers may be laughing from afar, but I wanted to spend my time and add value only where I enjoyed it the most.

But I soon realized that attitude was an #entrepreneurfail. As I slowly picked up really basic (I mean super-simple) HTML, and hints of CSS, Wordpress/Blogger functions, UI and UX concepts and tools, and digital advertising techniques, I realized how empowering they can be - and I could do it all without the help of technical friends/cofounders/vendors. Even the most non-technical cofounders can pick up the basic skills - and the best part is that there are tons of free and low-cost online resources to help get you up to speed. Here are some links you can bookmark to learn the basics:

A friend of mine with an MBA recently taught himself how to code and he considers himself as quite a novelty in the startup world. Very rarely do you find a "business person" that also has the inclination, motivation and tenacity to learn Ruby on Rails on the side. As he scopes out investors, he said each one he meets is pleasantly surprised to find an entrepreneur that can "wipe his own !@#"

The startup world often foolishly scoffs at non-technical founders, but coupled with some basic technical skills, even the most non-technical of them all can add even greater value and efficiency to their businesses.

Are you a non-technical founder? Do you agree with our post? Let us know in the comments below.

Let's set the scene:
It's a CoFoundersLab Meetup group set in a fun, colorful coworking hub in town. You see introverted onlookers assessing the scene and you see aggressive sales-y types already making their rounds. And you look on and you wonder if you'll ever find your match here.

Every week, scores of wantrepreneurs and real entrepreneurs attend these events, comb LinkedIn, and network with friends and family to find the perfect startup mate. Unfortunately, most of them are disappointed and discouraged.

If you are looking for a cofounder, you need to be prepared for a taxing, needle-in-the-haystack, diamond-in-the-rough type of search. It is very difficult to find a cofounder with a similar vision, who is not only complementary in his/her skillset, but also able to challenge you.

In your search, you may meet cartoons along the way that want to be your cofounder:

The wantrepreneurs who want to leech onto your business
The dabblers who have their fingers in 3+ businesses
The know-it-alls who don't let you get a word in
The whisperer who won't share any details about him/herself
The no-clues who can't communicate their background or ideas well

So how do you maximize your time at these events, even though the odds are low that you'll meet your cofounder, love at first handshake?

Read member profiles upfront and have a plan on who you want to talk to
Keep your profile crisp and your venture well-defined so the right people will find yo
Reach early to catch the other overachievers like yourself
Prepare to jump out of fruitless conversations quickly
Often the events are at a coworking space, so you may be able to network with others as well
Aim for a basic intro and remember the selection process is never immediate
Learn what others are doing to see if you can tweak your own elevator pitch or idea

And In the comic above, it's difficult to decide who to work with. Our options are:

Fred Flintstone - Loud-mouthed, aggressive, and constantly scheming often with unintended results
George Jetson - Family man who always seems to make the wrong decisions and doesn't think before he speaks
Inspector Gadget - Generally incompetent but gets by on luck
Shaggy - The cowardly slacker
Miss Piggy - A little too narcissistic and exhibits too much favoritism
Flying Smurf - Inventive yet not open to collaboration and discussion

So, how did you find your cofounder? Which cartoon would you choose as your cofounder? Let us know in the comments below.

As alluring as social media is, it is fleeting and many people never see the posts more than once if at all.

Email provides one of the highest conversions in online marketing because everyone checks their emails – even if only looking at the subject line, and it is always in their inbox until deletion. Catching folks on social media is hit-or- miss.

Unfortunately, the state of email marketing generally consists of the following:

Too much email
Not enough email
Unclear calls to action
Irrelevant information
Too selly sell

The way to combat the "Wham bam, fear of SPAM" blues, here are some tips and tricks to nurture your email subscribers, and not be an #entrepreneurfail:

Remember, the ideal balance is 80% content and 20% sales-y emails
Offer them discounts that you don’t put on social media (and tell them that it’s exclusive for them)
Encourage engagement by running a contest, asking for votes or design ideas, and reward the winning entries – and give them a little fame
You don’t have to only share your own content – curate other articles/posts/content out there and share with your subscribers
Aim to reach out to your email list at a minimum 1-2 times a week (I'm guilty of failing at this one, as my subscribers may forget about me between contacts)
It’s ok if people unsubscribe since you want only your true future potential customers.
The rest will remember your site and come to it as necessary
Always have a call-to-action in the email
Include all your social media links at the bottom of the email and include links to your site on the email
Include a button that says forward to a friend on the email
In the future consider setting up an autoresponder (all the mail clients have it MailChimp, Constant Contact, AWeber, etc etc) which will automatically send pre-planned emails to your new subscribers

The subject line is the most important – make it irresistible and compelling so they have to open the email:

You’ll Never Believe…
You won’t want to miss this…
Jaw-dropping _____ for the new year
Yes, You could be <enter someone famous>

Do you use email to reach out to your potential customers? Tell us more in the comments below.

Navigating the Entrepreneur's Zoo

Entrepreneur's Piggy Bank: Forgotten Startup Costs

Don't Be Marginal: Know Your Numbers

Job Secrecy: Startup in the Closet

A Day in the Life of: Corporate vs. Startup

It's a Work-ation Vacation

Drown in Inventory or Save a Tree

New Year Jeers about the Clueless Entrepreneur

Startup Street Signs: 11 Ways Starting a Business is like Learning to Drive

Quiz: Top 10 Things Entrepreneurs Never Say

Turn your Talent into a Business: The Reality

Plead for a Lead: Sales Don't Come Easy

The 4-Hour Shirk Week

Symptoms of Customer Acquisition Procrastination Syndrome

Nature or nurture? Can entrepreneurship be taught?

Relying a Bit Too Much on Vanity Metrics?

Entrepreneurship: What you Thought vs. What you Got

Falling into the Non-Technical Founder Trap

Cofounder Needed: Toons Need Not Apply

This contains little to no spam. Promise.