Pivot, Partner, Profit: Here’s How (February 3, 2025)

Author

Dave Lavinsky
February 03, 2025

Here’s what we will cover today:

  • Implement seven proven strategies to boost your startup’s success

  • Learn how to create a plan that grabs investor attention and secures funding

  • Get the latest updates on tax relief policies and consumer behavior shifts

Quote of the Day

“Best startups generally come from somebody needing to scratch an itch.”
~Michael Arrington

Today’s Tip

Research shows the following 7 factors are proven to improve your success as an entrepreneur:

  1. Invest in Mentors, Metrics, and Education

  2. Don’t Be Afraid to Pivot (primarily modifying your business idea based on customer feedback)

  3. Consider Having a Partner

  4. Take the Full Plunge (founders who work part-time are much less likely to succeed than full-time founders)

  5. Don’t Underestimate How Long Things Take (most aspects of starting and growing a business take longer than you might think)

  6. Accurately Estimate Your Market Size (if your market is too small, you can’t succeed)

  7. Raise Enough Money for Your Business to Launch & Grow

Today’s Resource

Get the Business Plan Investors Love

Most business plans fail to impress. Why? They miss the key elements that investors and lenders need.

With PlanPros.ai, you’ll create a business plan that turns heads. 

Just answer some simple questions, and our AI-powered tool crafts customized financial projections, writes your entire plan in the format investors crave, and includes the best business-building strategies.

And here’s the kicker: You’ll also get access to our database of 80,000 equity and debt investors.

Your plan will get the attention it deserves. Let’s make it happen.

Trivia

Today’s Question: What is the "trashier" name for a "high yield bond" typically issued by companies with low credit ratings?

Previous Question: The process of reducing the number of defects is typically known in manufacturing by the letters QC. What do those letters stand for?

Previous Answer: Quality Control

Quality control involves testing units and determining if they are within the specifications for the final product. The purpose of the testing is to determine any needs for corrective actions in the manufacturing process.

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