Victoria Yampolsky and Dan Nelson are two professionals who work to educate entrepreneurs on what they need to know to be successful in the world of business. Yampolsky is the President and founder of Startup Station, and Nelson is the founder and Head of Content at Startup Economics 101. Both of them come into the Bold TV studio to share their experience of working with startups and entrepreneurs. Running a startup isn’t easy, and there are not a lot of resources out there for entrepreneurs seeking help.
Startup Station and Startup Economics 101 are institutions made to educate millennials. Classes to become entrepreneurs are not always readily available, and there is a lot of information that is necessary to be successful in business. Entrepreneurs are trained to always have their pitch ready and to choose their words wisely when describing their business. Yampolsky and Nelson take your startup strategy and translate it into a financial plan and communicate this plan to investors. They educate people through classes in person and online seminars. Nelson even has a live broadcast in which he does “office hours” for anyone who wants to log in and ask him a question.
Yampolsky stresses that you need to demonstrate that your metrics are achievable. In all reality, you need to convey to your investors that they are conservative and offer more of a ceiling rather than a floor. Your job as a startup is to show investors the research, strategy and execution of your plan. Nelson shares the importance of balancing data and how your idea will work so that you can set realistic expectations for your business. Understanding the key point on how your business will navigate the real world will ultimately lead to your success.