Complex.com, UK.Complex.com, February 06, 2017
A Behind-the-Scenes Look At Volunteers Helping Muslim Ban Detainees
Entrepreneur.com, April 2, 2013
STARTING A BUSINESS
3 Tips for Nailing Startup Competitions
Student entrepreneur Nina Foroutan on how to get the most out of early-stage business battles.
Startups are like newborn babies. Once you give birth to an idea, you see the bright future ahead. But as the allure of success fades, you soon realize your baby can’t grow without the proper resources, funding and support.
This is where startup competitions come into action. For many of us young ‘treps, entering these events can seem daunting and intimidating. You might not know where to start, wonder if you can get by without it, question whether you can afford the time needed to spend on it, or fear that someone may steal your idea.
In my opinion, if you can think of just one solid reason why you should enter a startup competition, you should go for it with all you’ve got. I recently applied to my first one in Massachusetts called the MassChallenge and here are my top tips:
1. Have no fear. We all know aside from hard work and ingenuity, there is a bit of lucky right-time-right-place in the mix when it comes to real success. If you are in a place with your company where entering a startup competition makes sense, then do it. You never know, your product might be exactly what they were looking for or in a category that is a hot topic in the entrepreneurship world.
2. Assemble a board of advisors. To help you with all the paperwork and forms, executive summaries and company bios you will need a good strong board of advisors. Depending on where you are at with your startup, this could be a paid employee or it could a family friend who started his own company and is willing to help. It is vital to have at least two people to confide in and help you every step of the way.
3. Remember, it’s not about the money. When you enter your first startup competition you need to tell yourself that it’s not all about financial gain. Most competitions offer a vast supply of resources and opportunities to network with higher up business professionals. The amount you can learn from others about how they got started and what they think about your company can be crucial to the growth of your brand. If nothing else, remember that as an entrepreneur you need to constantly be talking to people, asking questions, getting opinions and operating on platforms that support these values. A startup competition is a great way to get your feet wet and get the exposure that could make your company a great success.
www.Entrepreneur.com, January 10, 2013
Starting Up While Still in School? 5 Tips for Staying Sane
With only so many hours in a day, finding balance in your startup and school life may seem impossible.
As an MBA student trying to get a startup off the ground, there’s always so much to be done and it often feels totally overwhelming. I finally hit my breaking point during finals week. I was exhausted and felt like a hamster on a wheel, running but never getting any reward. That’s when I sat down and really thought about what I needed to do to find balance and truly enjoy the entrepreneurial process.
Here are five tips for staying sane while balancing school and startup life.
1. Make time to meditate. Meditation is an incredible way to relieve stress and find your center. It doesn’t have to be long, 20 minutes is usually plenty of time. I find that meditating first thing in the morning gets me refreshed and ready for the day.
2. Get physical. I started boxing about six months ago and find that going two to three times a week really helps me let go of any tension I’m holding in. I leave my phone at home and have one hour of time dedicated to my mind and body. Choose an activity you enjoy, something that excites you. It’s also a good way to expand your network and stay social.
3. Let the ball drop once in a while. Entrepreneurs are typically overachievers. We are perfectionists who want our hands in everything. This is the mark of success, but also can be a source of imbalance. It’s okay if you skip the 6 a.m. conference call to go over legal documents, let the other party know you need an extra week. Find ways to juggle obligations on your time. It will make you feel more in control, and thus less stressed. And don’t worry -- the world won’t end.
4. Communicate with loved ones. If your family and friends feel neglected, explain exactly what you are going through. If you can, take them along with you for a day so they can see how much you do. Let your partner know that you’re missing them as much as they’re missing you and plan a date night for just the two of you. It might be a good idea to host a dinner once a month at your place and invite your closest friends. It doesn’t take a lot to show you care.
5. Sleep. At the end of the day there is nothing more helpful than a good night’s sleep. I usually get five hours a night but try to fit in an eight-hour night of sleep at least once a week. Be selfish with your rest, you have enough time to make it happen if you really want to.
www.Entrepreneur.com, August 9, 2012
How to Gain Free Feedback from Your Classmates
I have a great idea for a food product. I love it, my family loves it, and the recipe has been in my family for ages. I decide I want to launch it as a packaged good to sell to the public. But wait. How will I know if people will love it enough to actually buy it?
This was the dilemma that stood in the way of my business plan and plan of action for Youthful Chef turkey patties. My product is an organic vegetable and turkey patty that can replace any meat lover’s hamburger -- all while providing an entire serving of healthy vegetables.
Before embarking on a full-fledged manufacturing and distribution run, I needed to test out my patties on my target market: 20- to 30-year-olds who want to live a healthy lifestyle and eat sustainable, organic foods. As a startup on a tight budget, hiring a panel of testers would be costly and time consuming. But, I knew I could not afford to move forward without this valuable knowledge.
I was in class one day, voicing my concerns about whether my turkey patties would be sellable and profitable, when one of my classmates said, "Why don't you test them out on us? We'd love to try them."
That’s when it clicked: What a simple solution. I could use my classmates as my test panel. They know me well enough to give a thorough critique, yet aren’t emotionally invested in our friendship enough to feel obligated to spare my feelings. Plus, they have the formal entrepreneurship training that comes with being in business school, so they’re keen on what to look for in creating a profitable business venture.
I invited a group of them over to my house one weekend and made my Youthful Chef turkey patties, along with the three sauce options I would sell along with them. I made two batches -- one fresh and one that had been frozen. I also made-up comment cards and told my classmates that they could either write their name on the card or leave it anonymous, although knowing who the criticism came from would be helpful because it would allow for further discussion.
I also asked what they would pay for a four-pack of frozen patties at the supermarket. Surprisingly enough, no one omitted their name, and they were very honest and straightforward about their analysis. There were no "great" or "tastes good" responses, but rather more elaborate descriptions of the good and the bad.
Here are three tips I learned from my student product panel experience:
- You don’t always need to spend money to make money. Use all the possible resources that are readily available to you before spending a dime. Usually talking to professors and experts in the field you are entering (in my case, supermarket chain suppliers) can offer you precious, invaluable knowledge.
- Don’t get deterred if you get negative feedback. Not every comment on those cards was positive. Some were a hard pill to swallow, but it’s that analysis that’s crucial to your future success. If you get discouraged, remind yourself that this process is meant to help you make your product better and more successful.
- Get a second opinion. In business, in life and at the doctor. I believe you should always have a second, third or even fourth assessment of your idea and product plan. Remember, more is always better than less when it comes to research and planning for your entrepreneurial venture.