Episode 070 | What Does It Take for a Startup To Succeed?

Millions of new businesses are formed in the U.S. each year, but statistically speaking, only a small percentage of those businesses will succeed. How can entrepreneurs make strategic decisions regarding investments and goal setting in order to move past the startup stage? 

In this episode of The Wrap, our hosts are joined by Yogesh Patel, CPA, CFE,—a Member of the firm with over 20 years of experience advising entrepreneurs and companies—as they discuss valuable insights on navigating the early stages of a startup.

In this episode, you’ll hear:

• Discussion around the realities of starting a new business and the characteristics of a successful startup
• Advice on when to seek additional capital
• How a willingness to pivot may be a key to success
• How to prioritize the key performance indicators (KPIs) your startup will focus on

Resources for additional information:

• Podcast: The Entrepreneurial Journey and the Cycle of Business Growth
• Podcast: Know and Grow [Taking Your Business From One Level to the Next]
• Blog: 4 Things To Do Before You Set Long-Term Business Goals
• Blog: How Much Working Capital Do I Need? (Plus Five Ways To Get It)
• Book mentioned by Yogesh: The Mom Test