Despite the odds stacked against the success of startups, the allure of the occasional startup success story keeps inspiring other entrepreneurs to try their hands at a high growth business venture. We’ve put together a list of five actions startups should never take in order to have the best odds at having success.


Settle for Less Than A Players – There’s a reason why startups tend to have high turnover rates in their first few years. With limited resources, the need for talented employees is crucial to a startup’s growth and future success. Not only must an employee be hardworking and dedicated but they must also fit in well with the office culture. Often having few employees and a heavy volume of work, finding employees that bring their passion for the vision of the business is not only important – it’s vital. While there may be many skilled candidates, the most promising candidates will be genuinely enthusiastic about the startup’s future and not just landing a new job.


Buy More Than You Can Afford - While it can be tempting to think that your startup needs brand new computers, fancy ergonomic chairs, or modern decorations to function, it probably doesn’t need any of that. In fact, your startup should be focusing on what it’s supposed to be doing first and foremost – growing! Most startups have humble beginnings, launching from home basements, apartment buildings with limited resources and money. If you absolutely don’t need something in order to make your business function on a daily basis, you can most likely put off purchasing it for now – or buy a used version.


Give Into The Hype – Repeat after us. Press does not equal success. While it may be hard to remember this, the success of marketing of a product does not equate the actual quality of the product itself. In 2010, the initial launch followed by a year of slow growth of Pinterest was less than impressive. However, without the distraction of the media, Pinterest was able to quietly refine the popular site to what it is today (


Before considering who will or won’t write about your product or how much “buzz” your startup is generating, concentrate on the actual functionality of the product/service you are creating. Simply start seeing that lack of “buzz” around your startup as time to refine your processes, your product and design. Concentrate on what will bring you revenue, not press.


Give Away Equity Without Getting Something Back – There’s only one reason to even think about giving away equity of your business to someone else. You give equity when what you will have left of your company will be worth more than the whole company was before ( Giving away equity should ultimately be a move to add value or smart money to your startup, not to leave it less than it was before. Anyone given equity should have a long-term investment and relationship with the company, which is why the thought of paying employees in equity is never a good idea. The more equity you freely give away, the less control you’ll eventually have over the direction of the business.


Chase After Investors – If you find that you’re spending more time chasing after investors to fund your startup rather than actually working, it might be time to re-evaluate why you began your startup in the first place. Instead of looking for angel investors spend your time actually making your own money first. Even when investors start approaching you, it doesn’t mean that it’s the wisest decision and direction for your business. It’s always best to hold off as long as possible before even considering accepting investors.


Ola Ayeni is the founder of Dining Dialog and, a digital loyalty marketing company for restaurants and food service businesses. Dining Dialog is a cutting edge, full service new media marketing company servicing the restaurant, bar and food service industry. eateria™  is a digital loyalty marketing tool that will empower our clients and help them build their customer base by generating repeat business and attracting new business. | Find us on Twitter - @eateriadotco| Check out more of Ayeni’s blogging.


Views: 319


You need to be a member of FohBoh to add comments!

Join FohBoh




Social Wine Club for Craft Wineries


Customer traffic levels behind RPI decline

Softer customer traffic resulted in the Restaurant Performance Index registering a moderate decline in June.  -More

Subway tops social media index, Chipotle bumped from Top 10

Digital CoCo's Restaurant Social Media Index determined the top digital influencers for the second quarter, with Subway retai -More


Posting a job or finding a job starts here at FohBoh. Call us about special $50 posting packages to syndicate across all major jobs boards.

National News

Main Event Entertainment to Open First Center in the Rio Grande Valley

Main Event Entertainment, the fastest-growing family entertainment center in America, is celebrating its new center opening in Pharr, Texas, a suburb near McAllen in the Rio Grande Valley. Doors will open to the public at 9 a.m. on August 6.

Darden Announces Leadership Succession Plan

Darden Restaurants, Inc. (NYSE: DRI) announced that Clarence Otis is stepping down as Chairman and Chief Executive Officer of the Company. Darden's Board of Directors has appointed the Company's current Independent Lead Director, Charles A. Ledsinger, Jr., as Independent Non-Executive Chairman of the Board, effective immediately. The Company also announced that it has amended its corporate governance policies to provide for the separation of the Chairman and Chief Executive Officer roles.

National Restaurant Association Statement on NLRB Joint Employer Decision

Today the National Restaurant Association issued the following statement regarding the National Labor Relations Board’s (NLRB) decision asserting McDonald’s Corporation is a joint employer of its franchisees:

National Restaurant Association Issues Support for Clearer ACA Definition of Seasonal Employment

The bipartisan legislation will align the definitions of seasonal employment in the Affordable Care Act and streamline the applicable large employer determination process.

Rising India, Inc. Announces Acquisition Strategy Toward a Sizable Slice of the QSR Pizza Pie

Rising India, Inc. (OTC: RSII), announces today it will immediately begin work toward the acquisition of up to 5 profitable stores in the popular Quick Serve Pizza Restaurant segment. Current targets are currently earning about $450,000 in revenues per year, per store. Acquisition of targets would provide immediate cash flow identified from profitable longstanding, absentee owner operations with proven model success.


If you are looking for capital to start or grow your restaurant, create the next 501c3, develop and launch the next app for the restaurant industry,or want to help your peers in some meaningful way, we want to know about it.


TED: Ze Frank: Are you human? - Ze Frank (2014)

Have you ever wondered: Am I a human being? Ze Frank suggests a series of simple questions that will determine this. Please relax and follow the prompts. Let's begin …

TED: Heather Barnett: What humans can learn from semi-intelligent slime - Heather Barnett (2014)

Inspired by biological design and self-organizing systems, artist Heather Barnett co-creates with physarum polycephalum, a eukaryotic microorganism that lives in cool, moist areas. What can people learn from the semi-intelligent slime mold? Watch this talk to find out.

TED: Shih Chieh Huang: Sculptures that’d be at home in the deep sea - Shih Chieh Huang (2014)

When he was young, artist Shih Chieh Huang loved taking toys apart and perusing the aisles of night markets in Taiwan for unexpected objects. Today, this TED Fellow creates madcap sculptures that seem to have a life of their own—with eyes that blink, tentacles that unfurl and parts that light up like bioluminescent sea creatures.

TED: Nikolai Begg: A tool to fix one of the most dangerous moments in surgery - Nikolai Begg (2013)

Surgeons are required every day to puncture human skin before procedures — with the risk of damaging what's on the other side. In a fascinating talk, find out how mechanical engineer Nikolai Begg is using physics to update an important medical device, called the trocar, and improve one of the most dangerous moments in many common surgeries.

© 2014   Created by FohBoh.

Badges  |  Report an Issue  |  Terms of Service