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Never before has “fake” been such a household word. But not all “fake” is bad. For entrepreneurs starting out, the right version of “fake it until you make it” is exactly what they should be doing.

An entrepreneur who “fakes it” is someone who takes on challenges even if he has no idea how he’ll solve them, such as accepting an order from a large client without knowing how he’ll get the shipments from China.

That’s the purest form of “faking it,” because it’s aligning his mindset with what he desires while still operating within his means. It’s also biting off more than he can chew but always following through and delivering in the end.

Ultimately, entrepreneurs who don’t push themselves and “fake it” are the ones who aren’t going to make ...

“I just want to tell other entrepreneurs who start at an early age – no matter how hard it is, do not give up, because your dreams are worth fighting for. I do believe that anything is possible with a positive approach and a lot of hard work.”

We’ve all heard, if not had them spoken directly to us, similar words of inspiration. And they never get old. We can never hear them enough. And maybe, just maybe, if we hear these words coming from the right person, under the right circumstances, we’ll accept them not as abstract mantra but living truth. And we’ll find the resolve to bust our tails long enough to one day arrive at a level of achievement where we’ll feel compelled to deliver our own words of encouragement.

It matters that these words ...

There's no golden age to start a company, but there is definitely a timer on when we can withstand failure. The question is — when does that timer expire for us?

As it happens, our numeric age isn't really what's driving our "Founder Expiration Date" — it's about how our age may reflect our relative appetite for risk. That's really a nice way of saying "What's the oldest I can be before I'm too old to recover from failure?"

Age Erodes Risk

Every year that goes by is another year we can't get back. When we're in our 20's and starting a company, we have our entire adult life to make up for the risk of failure. In many cases, we may not have a family or even a mortgage to worry about. At most, our failure may result in some lost years and a sh...

Most startups don’t fail because they lose money. The downward spiral starts much sooner when entrepreneurs let managing their financials fall by the wayside. In fact, a CB 2018 Insights report found that 29 percent of small businesses failed because they ran out of cash, perhaps a result of poor money management by leadership.

Not everyone has the aptitude for financial management. Still, startup owners agree it’s a necessity.

Why your bottom line could bottom out

Over the years, my company has seen a pattern with startups: Just as they hit their stride and growth takes off, they begin struggling with financials. There are many reasons for this paradox, including expanding into new verticals too quickly and failing to acknowledge the fina...

What do startup hiring and a Broadway production of Hamlet have in common? No, it’s not the murder, the Oedipus complex, and the existential crisis. (If it is, what kind of company are you running?)

In startup hiring, as in the theater, casting is everything.

When it comes to building a startup, you are who you hire. Not only do the people you bring onto your team determine the direction and destiny of your product; they also shape what it will be like to come to work every day.

Hiring is one of the most essential components of building a startup. But for some reason it’s also one of the least talked about. When you’re a founder, you’re frequently pulling double-duty as your own HR rep. But how many founders have you heard of that actually...

Somehow the startup world has convinced people to work for "free" on a regular basis, with the theoretical benefit of some big payout on equity later.

The truth is, those bets rarely work and once the pixie dust of the new startup wears off, what's left is a bunch of frustrated employees who can't pay their bills.

Although we have little to no money to pay today, we should always try to incorporate some level of cash compensation, even if it's incredibly small, to help offset the cost of life that our team is going to inevitably face.

When our team is more focused on going broke than contributing, we're not really doing anyone a favor!

Use a Compensation "Ramp Up"

Compensation doesn't have to be "all or nothing."

Just because someone mak...

Investors — As Founders we love you, need you and appreciate you. But the relationship feels very one-sided when we're pitching for capital. As Founders, we just need a better way to communicate not only the evil word "NO", but the equally evil word "Maybe." "Yes!" we seem to have figured out.

All we're asking for here is to be treated with respect and dignity. We don't need to be coddled, we just need a clear "No" when the time is right and ideally some basic kindness along the way. It doesn't take much, but we could really use some shifts in how we communicate these days.

Don't be a Dick

I've met with and pitched hundreds of investors. If there's one thing that I could never figure out, it's why so many act like raging dicks. Not all of t...

At a recent Founder Group meeting, one of the Founders asked the rest of the group if they regretted selling. All of them had past exits, ranging from a few hundred million to over a billion dollars.

With so much money at stake, and in each case billions of dollars "left on the table" post-exit, not one Founder had a single regret. It had nothing to do with what they cashed out for, it had everything to do with what they were willing to "let go".

We all share the same concern that if we sell too early we're going to look back on what became a trillion-dollar company and cry about all that we left behind. But there are actually a lot of ways to not only help hedge that financial concern, but also come to terms emotionally with walking away.

We wanted to find out, were these people telling us they liked the product just to be nice? Or was there something else that was going on?

Jeff Stefanis and his co-Founder Amber Wason were pedal to the metal on development of their electric bike startup Riide in early 2015. They had perfected their design, they had partnered with a top manufacturing company to build the bikes, and they were offering test rides around Washington, DC as a way to introduce DC commuters to the idea and turn testers into buyers.

There was just one problem: nobody was buying.

“Our conversion rate from test rides to buying was about 3%,” Jeff remembers. “Which is not great.”

The low conversion rate confused Jeff and Amber at first, because it seemed to directly co...

Recently Elon Musk had to do what every Founder dreads — tell his staff that they have limited funds, and if things don't improve, that it's game over.

Elon's doing it with $2.7 billion, but his problems are the same as if we had to do it with $2.7 hundred.

Letting our staff know we're running out of money while trying to rally them at the same time to succeed is a brutal game that requires extreme tact in messaging.

When should we tell our staff that we're about to run out of money?

Now, and then later.

Right now let's be honest about where the company stands and what our challenges are going forward, no matter how significant.

Elon said "We're in code red" and that all expenses are being considered. He's pointing out that shit's gett...