Why Businesses Fail #11 - Unlocking Startup Success: Building Strong Teams, Overcoming Entrepreneurial Challenges, and Thriving in the New Business Era

Janice Michala, seasoned startup pro, joins Jeremy Gray to tackle a foundational reason startups fail—having the wrong team—and offers people-first solutions for building lasting, impactful businesses.

Key Takeaways: 

• Choose co-founders wisely: Deeply examine values, commitments, and expectations—friendship alone isn’t a recipe for startup harmony.

• Prepare for the real conversations: Discuss risk, time commitment, family involvement, and what happens when things go wrong.

• Understand control vs. ownership: Holding more shares doesn’t guarantee leadership—focus on trust, clear roles, and living up to your word.

Jeremy and Janice continue their candid conversation on founder dynamics, funding pitfalls, and the realities of startup life from both the boardroom and the kitchen table.

Key Takeaways: 

• Talk with your support network early: Bring in spouses and family to align on expectations and risk tolerance before you dive in.

• Respect investor concerns: Recognize that family-run businesses often face skepticism from funders; transparency with employees is vital.

• Put people and culture first: Top-performing startups prioritize team cohesion, open dialogue, and customer focus above ego or control.

EdTech strategist Cher Downing shares her perspective on today’s entrepreneurship landscape, highlighting the shift toward self-employment and the importance of finding (and articulating) your unique niche.

Key Takeaways: 

• Identify and articulate your niche: Go beyond broad experience—define what you’re uniquely great at and why it matters.

• Plan with purpose: Launching with a clear outline, measurable goals, and flexible milestones is essential for avoiding common startup failure traps.

• Leverage your experience: Use your hard-won industry insights and connections to shape your offer and stand out from the crowd.

Cher returns for an honest discussion on conquering imposter syndrome, leveraging networks, and thriving as an entrepreneur in the hybrid, post-pandemic world.

Key Takeaways: 

• Build and activate your network: Early clients often come through referrals—be proactive, clear, and unafraid to ask for help.

• Embrace free (and low-cost) tools: Platforms like Canva, Google Workspace, and iMovie can help you look professional and punch above your weight.

• Keep learning and wearing every hat: Early-stage entrepreneurs benefit from hands-on experience; free classes and resources can fill skill gaps until you can delegate.