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Public Relations or “PR”, i.e., strategic communication efforts designed to positively influence the ways in which different publics (e.g., clients, potential customers, investors, government officials, etc.) view and respond to your company (1, 2, 3), is a crucial aspect of building successful businesses in the 21st century.

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It’s late on Thursday afternoon and I’m talking to Stephen, a potential client with an all-too-familiar story.

“So, how much money have you invested in the product so far?” I ask.

He sighs deeply. “Almost a quarter million dollars.”

“I looked at the dev work – and the news isn’t good,” I reply, suddenly aware that I sound like a doctor who’s about to share some alarming test results.

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At their cores, 21st century tech startups are fundamentally concerned with growth. By exhibiting economies of scale, pursuing large markets, and using unique forms of non-traditional marketing, startups seek to build businesses with global reach that create many millions, if not billions, of dollars in yearly revenue.

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There comes a point in the lifecycle of every startup where a founder must decide whether, and if so then how, to expand into new markets. If you try and launch your operations into other countries too early or without performing your due diligence then you ultimately risk sinking your entire company but if you wait too long by failing to capitalize on opportunities for international growth then you will lose out on chances to scale and build your brand.

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Amazon, Apple, eBay, Facebook, Google, Instagram, Microsoft, Oracle, Samsung, YouTube—these massively successful companies/platforms and others like them continue to grow year-after-year, accumulating more market share and generating billions in revenue dollars. But does this mean that the “big boys” always crush new startups as soon as the latter start “making some noise”?

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Nimble, scrappy, lean, ready to pivot as soon as necessary, focused on rapid growth, consisting of small teams and modest (if any) salaries—these are some of the most common characteristics of 21st century startups. Inevitably, though, a startup reaches a point when it becomes necessary to hire a big-time business executive who can help take the company to the “next level”.

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Our culture is obsessed with competition. Just look at reality TV. For over a decade now we’ve been watching people try to outlast, outsmart, out-cook, and even out-model and out-drag-queen each other. We love seeing the playing field narrow until confetti falls and a winner is crowned.

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One of the most important decisions a startup has to make during its earliest days is how to divide up (current and future) ownership of the company. This involves determining the distribution (and the different forms) of “equity”. But what, exactly, is equity?

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As of mid-2017, a total of 5 million apps are available for download across Google’s Play Store and Apple’s App Store. At the same time, though, nearly 85% of all smartphone usage is allocated to 5 apps or fewer; and almost 4 out 5 users never use an app again 72 hours after first installing it.

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