StartupNation

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• WJR Business Beat: Cannabis Industry Sets New Sales Records in Michigan (Episode 366)
• 5 Ways Startup Entrepreneurship Is Changing In 2022 (and Beyond)
• Next Time You Think the Cards Are Stacked Against You, Think of Sarah Breedlove
• How Artificial Intelligence Can Enhance the Employee Experience in HR
• How Your Startup Can Implement Effective Diversity, Equity and Inclusion Practices
• 7 Common Mistakes to Avoid When Launching a Software Program

WJR Business Beat: Cannabis Industry Sets New Sales Records in Michigan (Episode 366) Posted: 22 Feb 2022 08:15 AM PST On today’s Business Beat, Jeff shares the numbers on the booming marijuana business in Michigan, which regardless of whether you participate in the industry benefits all Michiganders. Turn in to the Business Beat, below, to learn more about the rosy forecast from the Michigan Marijuana Regulatory Agency: Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.   Are you an entrepreneur with a great story to share? If so, contact us at editor@startupnation.com and we'll feature you on an upcoming segment of the WJR Business Beat! WJR Business Beat Transcript Good morning, Paul! This morning we’re focused on a hot industry sector setting new sales records in the state of Michigan. Cannabis sales in Michigan set a new record in 2021 at $1.8 billion in total sales, according to the Marijuana Regulatory Agency. December 2021 also set a monthly record in sales with $135 million coming in for recreational cannabis sales and $33 million more in medical marijuana sales. Marijuana Regulatory Agency Executive Director Andrew Brisbo says the numbers marked another high for the adult use industry. Now he did indeed say that no pun intended, I'm sure. The next closest single month of sales prior to the December sales record was set in October with about $128 million in sales. And as exciting as the 2021 record sales numbers were, Brisbo estimates that sales in 2022 could top another billion in total at $2.8 billion up from the record sales figure set in 2021 for annual sales of $1.8 billion. Now look, this is positive news, even if you’re not a seller or a buyer in this field, as taxes flowing into the state of Michigan through legalized marijuana in '21 from sales were at a very meaningful level, totaling $250 million in new tax receipts for the state: $131 million goes to the marijuana excise fund that gets divvied up amongst the local governments, roads and schools, and $115 million to the state sales tax budget and that goes to the general fund. The power of a fast-growing new industry sector, Paul, both for those selling and buying and for the state's Treasury as well, which in turn benefits all of us living and working in the great state of Michigan. I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR. The post WJR Business Beat: Cannabis Industry Sets New Sales Records in Michigan (Episode 366) appeared first on StartupNation.

5 Ways Startup Entrepreneurship Is Changing In 2022 (and Beyond) Posted: 21 Feb 2022 09:00 PM PST In the last decade, there hasn't been a better time to talk about upcoming changes to startup entrepreneurship than right now. COVID-19 has changed where we work and how we work. Big brands (like Apple) and their focus on user privacy have changed how businesses market and advertise. And the Great Resignation is just one symptom of an economy that's transitioning away from full-time work and toward part-time gigs. What does this mean for entrepreneurs, exactly? Here are five ways the landscape is changing in 2022 — and beyond: 1. Increase in freelancer demand In 2020, there were 67.6 million freelancers in the U.S., up from 57.3 million in 2017. Even more telling, 50% of respondents between the ages of 18 and 22 participate in freelance work. Freelancing is the wave of the future for America's workforce. And there are a lot of good reasons for that — it allows for greater flexibility, more freedom and better earnings. According to RealWire, 45% of freelancers saw an increase in demand as a result of COVID-19 and the Great Resignation. Businesses need workers — and they're increasingly willing to hire freelancers to fill gaps. If you want to set out as a freelancer, that's good news. If you need to find workers for your business, then you might spend a little more time looking for freelancers and a little less time looking for full-timers. Must-Read: Add These Trends to Your Marketing Plan  2. Transition from advertising to organic marketing iOS 14 and it's slew of privacy protections might have been good for the consumer, but it's shaken up the marketing landscape in a big way. Facebook ads are getting more expensive, targeting the right audience is getting more difficult and tracking customer behavior is becoming obsolete. Ryan Dossey, founder of Ballpoint Marketing and Call Porter, wrote recently, "I've been involved in marketing as a real estate investor as well as a business owner since 2014. In the past seven years, we've seen dramatic changes in what consumers respond to … ad fatigue and discernment have grown exponentially. This is why we've moved to content with humor, value ad retargeting campaigns, mail written with pens, and built out an extensive online presence." He's right. As consumers demand more data privacy, businesses will need to leverage organic tactics like influencer marketing, affiliate marketing, SEO, referrals, organic social media marketing and maybe even mailers written with real pen and ink. The sooner, the better. 3. New side hustle marketplaces Not everyone who's leaving the workforce is doing so as a high-paid freelancer — many are opting for the freedom and flexibility that side hustle marketplaces offer. You can grocery shop for other people or deliver food through DoorDash, rent out your car through Turo, rent out your property through AirBnB, and list a variety of different services on Fiverr or UpWork. The gig economy grew by 33% in 2020 and is expected to support more than 50% of the population by 2027, according to Forbes. How's this changing startup entrepreneurship? Well, for low-budget entrepreneurs, these side hustles can be a great way to save extra cash for a future venture. Additionally, launching a new marketplace that connects buyers and sellers in a particular niche can clearly be a lucrative pursuit … Maybe that's your next business. 4. Access to talent from all over the world Historically, business workforces have been limited by the talent available in the city where its located. Not anymore. In 2019, for the first time, the majority of new hires between the ages of 25-54 were people of color, according to the Washington Post. As so many positions — whether full-time or freelance — have moved from in-office to remote, workforces have diversified. Talent from all around the world is now competing directly with each other and businesses have access to the best talent they can afford, no matter which part of the globe those people come from. It also means that highly skilled workers can command much higher rates — since finding a remote job is super easy. This is good news for everyone. If you're a startup entrepreneur, then there's no shortage of talent available to you with a little bit of research. Find the best people that your budget can buy and hire them, no matter where they're located. A Beginner's Guide to Business Success in the Metaverse 5. The introduction of crypto, NFTs, and VR No one really knows exactly how cryptocurrency or NFTs are going to impact the economy … but it's almost certain that they're going to find their footing. After all, these are much more than internet fads that come and go — crypto and NFTs represent new methods for buying, selling, trading and creating. The entrepreneurs who figure out how these things apply to everyday consumers will likely be the world's next billionaires. VR is another thing that's changing how people interact online. Put on a $300 headset and enter new worlds in a way like never before. Meta, the new name for the parent company of Facebook, is putting all of its chips on VR — working to build the "metaverse." How that will impact startup entrepreneurship is yet to be seen. But whatever it is — organic marketing, freelancing, side-hustles, diverse workforces, crypto, NFTs or VR — there is no shortage of changes coming to the entrepreneurial ecosystem. So keep your eyes peeled for opportunity … The next few years will be full of them. Free Download: The Definitive Guide to Technology for Startups   The post 5 Ways Startup Entrepreneurship Is Changing In 2022 (and Beyond) appeared first on StartupNation.

Next Time You Think the Cards Are Stacked Against You, Think of Sarah Breedlove Posted: 21 Feb 2022 09:00 PM PST The following is reprinted from “Platform: The Art and Science of Personal Branding” Copyright (c) 2019 by Cynthia Johnson. Published by Lorena Jones Books, an imprint of Penguin Random House LLC. Sarah Breedlove is considered the first female self-made millionaire. At the time of her death, she was worth $600,000, which would be about $8 million today. Sarah Breedlove was not an ordinary entrepreneur or millionaire by male or female standards. If you have heard of her, you probably know her as Madame C. J. Walker. She was an American entrepreneur and philanthropist, as well as a political and social activist. She is considered the world's most successful female entrepreneur of her time and one of the most successful African American business owners of all time. Sarah was born into a family near Delta, Louisiana, on December 23, 1867, the youngest of six children. She was the first person in her family to be born into freedom after the Emancipation Proclamation was issued by President Abraham Lincoln in 1863. Her mother died when Sarah was only five, and her father passed away two years later. She was an orphan at the age of 7. At age 10 and with no formal education, she moved in with her sister and got a job as a housekeeper. At age 14, she married a man named Moses McWilliams, presumably to escape her abusive brother-in-law. Imagine that you have no education, both of your parents are dead, you work as a maid, you are a black woman living in the South in the years after the Emancipation Proclamation, your sister's husband abuses you, and to escape the abuse you end up married at age 14. Related: 6 Women Who Blazed the Trail for Female Entrepreneurs In 1885, when Sarah was 18, she gave birth to a daughter, Lelia McWilliams. Two years later, her husband, Moses, passed away. Now she was a single mother, who needed to quickly figure out what to do in order to take care of her daughter. So Sarah and Lelia moved to St. Louis, Missouri, to be near Sarah's three older brothers. There she took a job as a laundress, earning less than a dollar a day. Sarah's goals were clear and simple: to make enough money for her daughter to go to school and get a formal education. For fun, Sarah would sing in the church choir and visit her brothers at the barbershop where they worked. As she aged, Sarah began to experience the hair loss and dandruff common for African American women at that time. This was in part caused by the harsh hair-care products they used, many of which included ingredients such as lye that were found in soaps for washing clothes. Other factors that caused scalp issues and hair loss were a lack of indoor plumbing, infrequent showering, and poor diet. Whatever the reasons, Sarah was experiencing this problem, and she wasn't happy about it. She decided to take a job as a commission agent for Annie Turnbo Malone, the owner of an African American hair-care company. Since Sarah had hair and scalp problems of her own, she was very interested in these products. She began to learn about them and then to alter them. Eventually she realized that she had a better formula, and she started to develop her own product line. During this time, Sarah also married and divorced her second husband, John Davis. Sarah knew how to think for herself, both professionally and personally. In 1905, while still working for Malone, Sarah moved with her daughter to Colorado, where she met Charles Joseph Walker, the man who would become her third husband. After they married in 1906, Sarah took her husband's last name and started her own company with him. She changed her name to Madam C. J. Walker, to match the goal of the business. The title "Madam" was inspired by successful entrepreneurs and pioneers in the French beauty industry. Madam C. J. Walker began selling her products door-to-door, teaching other black women how to care for the style and health of their hair. Later that year, Sarah put her daughter in charge of shipping products for the orders that she and her husband took as they traveled through the United States, selling their products door-to-door. The following year, they opened a beauty salon and school in Pittsburgh, Pennsylvania, called Lelia College of Beauty Culture, to train future "beauty culturists." The couple would eventually open another salon and school in Harlem, New York. Sign Up: Receive the StartupNation newsletter! Just four years after launching her door-to-door business, Sarah opened her own manufacturing company in Indianapolis. Between 1911 and 1919, Madam C. J. Walker's company employed thousands of women to sell her products. The women wore white or black skirts and carried black bags. They went door-to-door to sell not only the product but also the brand message. All of the women Madam C. J. Walker employed as beauty culturists were taught "the Walker Method," including how to budget and open their own businesses. In 1917, she created state and local clubs for her sales agents to participate in. She named her association the National Beauty Culturists and Benevolent Association of Madam C. J. Walker Agents (predecessor to the Madam C. J. Walker Beauty Culturists Union of America). The association held events and national gatherings, and gave awards to the saleswomen who sold the most, brought in the most new sales agents, and made the largest donations to their local charities. Sarah Walker was also a philanthropist and visionary. In 1912, she spoke to the annual gathering of the National Negro Business League (NNBL) from the convention floor: "I am a woman who came from the cotton fields of the South. From there, I was promoted to the washtub. From there, I was promoted to the cook kitchen. And from there, I promoted myself into the business of manufacturing hair goods and preparations. I have built my own factory on my own ground." At the same conference the following year, Madam C. J. Walker was the keynote speaker. Her philanthropic work was extensive and effective. She donated to the building fund for the Indianapolis Young Men's Christian Association (YMCA). She also provided scholarship funds to the Tuskegee Institute, Indianapolis House, and the Bethel African Methodist Episcopal Church, among other organizations. Sarah Breedlove not only worked for the black community, she also worked to create an acceptance of it. She moved to New York City in 1918, where she became the assistant secretary for Negro affairs of the United States Department of War. She went on to become more and more political, giving speeches on political, social, and economic issues at conventions and events sponsored by black institutions Sarah Breedlove built an empire, empowered a community, brought positive change, and developed an incredible personal brand in a time when women had few rights and black women had even fewer. To give you an idea of the kind of world she was up against, she never had the right to vote in America despite her influence. Sarah passed away in May 1919, and women were granted the right to vote in June 1919 (ratified August 1920). So the next time you start to tell yourself that you have it rough or that something is impossible, think of Sarah "Madam C. J. Walker" Breedlove. She stood behind her beliefs, her drive, and her love for community to build something out of nothing. She is a true role model for success and perseverance. She is the kind of person we should honor, and everyone should know her name. “Platform: The Art and Science of Personal Branding” is available now at fine booksellers and can be purchased via StartupNation.com. Originally published March 12, 2019. The post Next Time You Think the Cards Are Stacked Against You, Think of Sarah Breedlove appeared first on StartupNation.

How Artificial Intelligence Can Enhance the Employee Experience in HR Posted: 21 Feb 2022 09:00 PM PST Artificial intelligence (AI) raises everything from fears of a takeover by machines to optimism that computers will solve some of humanity’s toughest challenges. Still, it is fast becoming an important consideration for many business processes, and human resources (HR) is no different. HR departments are starting to deploy AI solutions to save costs, influence more accurate data-based decision-making, and perhaps most importantly, improve the employee experience. Currently, just 17% of organizations use AI-based solutions in their HR department, but this is expected to rise to 30% by 2022. Those that are willing to embrace a more personalized and consumer-centric approach to employee experience can increase the average employee's performance by 17%  Now that we know that AI’s impact on many HR processes will continue to grow, what AI are we actually referring to, and how can it affect the employee experience? Deployment of modern AI tools in many areas Recruitment AI has undoubtedly made the recruitment process faster and more efficient, benefiting both the recruiter and the candidate. Specifically, Natural Language Processing (NLP) allows a recruiter to use a data-driven approach to CV screening, identifying appropriate traits and eliminating human biases. Conversational chatbots and Application Tracking Systems also show potential employees that the organization is treating them fairly, making the process smoother and leaving a lasting impression after hiring. Employee engagement NLP can provide insights on employee sentiment by using text analytics from surveys and other communication. This helps identify sticking points for employees and allows employers to tailor their engagement strategy accordingly. Platforms such as Glint can analyze employee responses from feedback surveys, finding the relevant keywords and phrases to give an accurate testament to the team’s morale. Learning Management Systems (LMS) LMS, aided by AI, can help an employee learn up to five times more material while reducing the actual training time by  40-60%. The technology can predict the user's next steps and behavioral patterns and even be leveraged to anticipate the user's future learning path. Depending on how effective an employee engages with training, AI can help find gaps and opportunities that traditional LMSs would miss. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here Increased personalization through modernization If HR continues to modernize by adopting AI tools, there will be room for further user personalization, which can only improve the employee experience. Many HR leaders are now starting to use voice-of-the-customer initiatives and nontraditional listening techniques to gather additional visibility into employee opinions, behaviors, and attitudes and create more holistic "voice of the employee" (VoE) insights. These technologies, such as employee sentiment and social analytics tools, take a deeper dive to collect and analyze employee opinions, perceptions and feelings, and provide a way to harness multiple sources of information to understand the intricate dynamics of the employee experience. Compensation and benefits is another area where the employee experience can be improved. Compright, for example, focuses on automating the compensation process. By putting all the data required to make good compensation decisions in one place, organizations can generate better decisions with more transparency and inspire better employee engagement. Establishing a rich data footprint will enable organizations to use AI to predict optimized compensation levels at an individual level.  These HR domain-specific AI use cases are the next phase of innovation and will apply to performance management, employee development, and tailored retention strategies among others. Simply put, employees want personalized development as part of their work experience. According to a Gallup survey, 87% of Millennials say that professional development is a very important factor for them. This aspect is more likely to make an employee feel engaged and motivated, which can increase a business's profitability by 21%. Today's use of AI in HR largely leverages foundational AI tools like recommendation engines, natural language processing, and chatbot technology that have been matured in other domains.  The next generation of AI applications will use more specific HR-based models to enable even more valuable insights.  AI will never replace the "human" in HR, but forward-looking organizations should look to current and emerging AI applications to maintain an edge in the increasingly competitive market for talent. Originally published Oct. 8, 2021.  The post How Artificial Intelligence Can Enhance the Employee Experience in HR appeared first on StartupNation.

How Your Startup Can Implement Effective Diversity, Equity and Inclusion Practices Posted: 21 Feb 2022 09:00 PM PST Much of the dialogue about diversity, equity and inclusion (DEI) plans in the media has been focused on established businesses that frankly have the ability to reengineer current strategies, integrate DEI communication into current communication plans, and leverage their organization's leadership to focus and drive initiatives. Startups and entrepreneurial businesses, however, are most likely starting from scratch with developing DEI plans. This has many advantages. These businesses have the flexibility of creating a culture without having to necessarily dismantle deeply rooted practices. Startups and entrepreneurial businesses are in the practice of asking "What if?" which is the exact mentality needed to think about how DEI can "live" in the company. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here Startups and entrepreneurs can create and implement effective diversity, equality and inclusion practices by addressing these areas: First, evaluate your current talent recruitment practices It’s more than just deciding that you want to hire with diversity in mind. You need to establish recruitment strategies. Now is the time to consider what can happen in the short-term to begin mitigating any issues and then develop long-term goals for driving focused DEI recruitment strategies. Commit to recruiting deep and wide (not just entry-level and manager-level positions, but also senior leadership roles). Next, examine the informal and unstated structure of advancement practices Having a diversity and inclusion strategy in place is not enough. A serious evaluation is needed for how you are providing equitable opportunities for advancement (along with pay increases) within your company. How are you preparing, supporting and promoting diverse employees? Evaluate how your company is enabling all employees access to major stakeholders, promotors, mentors, coaches and career advancement opportunities. It is not about hiring diverse talent and then not addressing the subtle but difficult terrain of advancement. Revisiting and rewriting your values Do your company's values speak to its belief of diversity, equity and inclusion? Step back and think about whether your employees can identify how the company lives its values. Do these values speak to what leaders are now saying is important about having a company that supports diversity, equity and inclusion? If not, what values need to change or be added? Consider how leaders and all employees addressed can reflect these values. Establish a forceful communication plan You need a DEI communication plan, not a haphazard attempt to discuss it. This communication plan needs to incorporate the prominent issues you want your employees to know about your efforts, status updates and any challenges being noted. It needs to be communicated across multiple channels (team meetings, company-wide meetings, one-on-ones, HR communications, etc.). Take a pulse frequently Check in to see how your DEI efforts are working. Create multiple opportunities and channels for your employees to communicate what they are experiencing, seeing and hearing. Not everyone will feel psychologically safe with one specific feedback channel, so allow them a choice. Establish feedback opportunities via one-on-ones, HR or anonymously. The goal is acquiring real-time, honest and unfiltered information. Be brave and let go of individuals who do not support your DEI efforts Companies may be focusing their attention on pushing DEI strategies out, but if things are not changing, then it is time to address what is blocking it. Who is a blocker and needs to exit? No amount of good intentions will make DEI a success if you have employees who are unsupportive or unwilling to make it a priority. Step into leading with empathy, compassion and deepened awareness It's vital to have leaders in place who are interested in learning how to lead diverse teams. Not everyone, however well-intentioned, will know how to lead with the empathy and compassion that is needed right now. Diverse employees need to know that their company's leadership is being responsive to them during the social unrest and crises. Make sure your team knows you are open to new approaches, ready to create a culture of respect for diversity, and open to hearing, supporting and valuing different voices, thoughts, perspectives and solutions. Related: A Statement on Equality, Diversity and Inclusion from StartupNation Here are ways to lead and support your diverse employees that demonstrates your commitment to diversity, equity and inclusion and that also conveys your compassion and empathy: Be present Your diverse employees want you to be "in" this moment. That looks like actively listening, being empathetic and compassionate, and being flexible and responsive with how you can provide support. This is not the time to give your point of view, ask questions for your clarification, or to release your personal guilt. No shortcuts Real learning is needed for change. Do not use shortcuts by asking Black employees to explain the tenets of racism to you. This only increases their burden. The responsibility to explore and expand your own knowledge requires you to be responsible for your own learning. Wait and listen Your diverse employees want solutions, but they do not want a haphazard approach to a systemic issue. Let them know you are in this for the long-haul. Gather information, have clarifying conversations and brainstorm solutions. This is what is needed to create real change. Be comfortable with being uncomfortable To support your diverse team, you need to be uncomfortable. This means examining your own biases, challenging colleagues to behave differently, pushing against a culture that may not be representing or respecting diversity, and settling in with the idea that change will be disruptive and difficult, but is ultimately the right and only way to be. Sign Up: Receive the StartupNation newsletter! Walk your talk Oftentimes, diverse employees still feel that their voices and contributions are not valued the same as others at their company. These employees need leaders who support a culture and policies that promote equity. They need leaders to challenge the status quo and ones who understand that even if they are not experiencing certain challenges at their company that this may does not mean it others' experiences. Create new team norms Leaders need to collaborate with their diverse teams to realign or create norms about how to communicate, support each other, manage conflict, and address any other challenges. Leaders need to also create psychological safety on their teams and to promote a culture of trust and openness. Leaders can help their teams with promoting the principle that diversity is a value that can be demonstrated by diverse people, diverse opinions and diverse solutions. Startups and entrepreneurial businesses have the opportunity to develop news ways of being and doing with greater ease and flexibility than larger or more established companies. They can be open, curious, flexible and readied for change, while asking "What if?" and then being brave and bold enough to pivot and evolve. Originally published on Sept. 14, 2020. The post How Your Startup Can Implement Effective Diversity, Equity and Inclusion Practices appeared first on StartupNation.

7 Common Mistakes to Avoid When Launching a Software Program Posted: 21 Feb 2022 09:00 PM PST In the business arena, software remains one of the fastest-growing categories of startups today — and for good reason! The scalability of software, and it's unique ability to serve one or one million users, makes it the ideal weapon of choice for entrepreneurs looking to make a big impact. In my 10+ years as a software developer and as the cofounder and operating partner of CiteMed, I have built my own software, hired teams and worked for teams hell-bent on creating the next big thing. From apps, to software as a service, I have hit major pitfalls, failed and even found my way into some successful companies. Are you thinking of bringing your own software platform to market and want some helpful advice? If so, here is a highlight reel of the top mistakes that plague most young and ambitious software entrepreneurs. I personally made many of these mistakes and can attest to their severity. 8 Steps for the Perfect Product Launch If you are thinking about building something, struggling to find the best product market fit or are fighting it out in the marketplace already, it's imperative to avoid these key mistakes. Not choosing your market wisely Most software startups are doomed from the start simply because their founders have chosen a bad market. Bad markets can be too competitive or too empty (no real paying users). So when you are picking a market to enter with your software idea, make sure of two things: first, that your product can compete (don't try and build a competitor to Facebook), and second, make sure that there will be paying customers or advertisers to pitch what you end up building to. Not building a REAL minimum viable product It's all too tempting to set out with a features/functionality list that rivals the top competitors in your space. However, you are wasting your time and resources if you are waiting to build the perfect product before launching. It's (now) common Silicon Valley wisdom to launch a version of your software that you are a little embarrassed by. This is sage advice and should be heeded. The reality is, until you get feedback from real users and customers, you won't be able to know exactly what to build. So take a guess of what that may be, build the fastest/quickest/dirtiest version of that guess, and then go out there and try and get people to use it. Not knowing who your target user is While you may not know exactly what to build, you should have a very strong notion of who you are building it for. To do this, construct a detailed "avatar” of your ideal user.  Who are they? Where do they work? What do they do for fun? Why would they need your software? The more you understand your target user (and their problems), the better your software product will turn out. You can add functionalities and more that they would really find valuable. Underestimating your budget If you are in the more traditional "startup" and venture capital world, this translates into one thing: raise enough money. If you are a bootstrapper and self financed, this is even more critical to building your product. In my experience, I have found that software tends to take twice the time and (at least) twice the budget of whatever a professional or development team quotes you. As much as I hate to admit it, this is just the way it always seems to work out. So when you set out to hire developers and build a team, be sure that you have enough capital to actually get a product out into the marketplace. If not, you will end up with a half-finished project and shattered nerves. Cheaping out on developers When you do manage to find the budget, be sure that you aren't just attracted to the cheapest bids from offshore development companies. Yes, while an $8/hour developer may seem attractive on paper, I assure you they will end up costing you more in lost time, poor craftsmanship and headaches down the line. Pick good developers, and if you don't know the difference, hire someone to pick them for you (let me tell you, a good chief technology officer (CTO) cofounder is worth their weight in gold). Not having a techie in your corner While a CTO is not essential, working with one does eliminate the vast majority of problems that non-technical founders ultimately face in the building and launching of software products. They also significantly reduce your initial costs if they can write a large portion of the code themselves. If you can't find a suitable cofounder that's a programmer, simply having a friend or trusted adviser in your network to vet ideas and hire developers is well worth the effort to secure. Waiting to launch Waiting until things are "perfect" is one of the biggest mistakes I have made in my software career. The truth is, your software will never be perfect. And by waiting, you are losing out on the most precious asset of all startups: real user feedback. To combat this, instead of waiting to launch, launch immediately but with a very fast system in place to hear about and fix bugs. For example, you can set up an email address that all of your users can be instructed to send problems to, a phone number directly to you, or a live chat box.  The important thing is that users have an easy way to complain to you. The second part of this is a way to quickly fix things. This is more of a challenge for your development team, but be sure that your developers have the capacity to fix things and get it to your customers immediately without a complex process of updating your software. To wrap it all up Congratulations on starting the journey of bringing new software to market! Make sure to avoid some of the most common mistakes that plague new software entrepreneurs, which include not choosing the market wisely, underestimating the budget, being cheap when selecting developers to work with, and waiting to launch. Avoiding these blunders should help your entrepreneurial endeavor be nothing short of successful. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here   The post 7 Common Mistakes to Avoid When Launching a Software Program appeared first on StartupNation.

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