Always consider you company's "North Star" when deciding whether it makes sense to add a particular feature to your product, writes Karl Clement. Plan for the future during the development phase, but recognize that you may not need to use buzzed-about technology such as machine learning to accomplish your goals.
A startup called Aura lets consumers earn rewards in computer games for allowing the company to use their idle computing power. That computing power will be used to fuel the Aura Network, which is focused on addressing issues with blockchain technology.
Startups are challenging the traditional backward-looking approach used by the major credit bureaus with new techniques that rely on big data and machine learning. RevolutionCredit, for example, uses financial literacy quizzes and games to gather information.
Effective performance management systems should empower employees, align structure and processes, and identify measurable goals, says Betterment CEO Jon Stein. Staying flexible is crucial, as there will always be opportunities to make incremental improvements to a management system.
Holding an initial coin offering will dilute your equity in the company, even if it isn't immediately apparent how this happens, writes Eden Shochat of Aleph VC. An ICO may eliminate the possibility of performing an initial public offering at a later date, so "follow-on financing is yet another one of the areas that will need to be figured out in the token economy," he writes.
Entrepreneurs often blame external circumstances when their businesses go bust, but the reasons for startup failure are often within their control, writes Eric Paley, managing partner at Founder Collective. "The best way to detect rationalization is to figure out whether a founder is earnestly searching for answers to problems or is quick to explain away why the problems aren't important," he notes.