Reflection of the Week
Happy Friday, all!
If you’ve ever had a business idea lingering in the back of your mind—or you’re navigating the messy middle of entrepreneurship—this week’s podcast episode with Amy Cosper is a must-listen.
Amy is the former Editor-in-Chief of Entrepreneur Magazine, a sharp, spirited startup advisor, and now the author of The Ultimate Guide to Startup Success. Our conversation was full of real talk about the pitfalls founders face and the courage it takes to launch something mission-driven in today’s world.
What I appreciated most was Amy’s clarity: being purpose-driven doesn’t have to mean being altruistic. Your mission is what you believe in, and that belief becomes the soul of your business—fueling everything from your brand to your revenue streams.
She also didn’t shy away from the practical stuff. So many founders (myself included, once upon a time) leap into their vision without building the foundation to support it. Amy called out four common and avoidable startup mistakes:
Not maintaining accurate books from the start: While you may not want to think about the numbers, it’s important to do accurate accounting as a business owner.
Not getting an IRS Employer Identification Number (EIN): Your EIN is like a Social Security number for your business and should be tied to your entity.
Giving your business a short-sighted name: Naming your business after a fleeting trend or something specific to a geographic region becomes problematic when you want to grow.
Not understanding how to structure partnership and operating agreements: If you don’t plan for how a business will get split up or choose an appropriate business structure, you’re setting yourself up for headaches when it’s time to pivot.
This advice felt like a checklist—and if you know me, you know I love a good checklist. It reminded me of the peace of mind I get when everything’s in order, from taxes to team agreements. And it’s why Amy’s book feels like a toolkit I’ll recommend again and again.
Her final encouragement? Just start. Don’t wait 20 years. Don’t wait for perfect. The act of building something aligned with your values is already a radical, hopeful step.
Questions of the Week
- Where are you overcomplicating something that simply needs to start?
- What foundational pieces of your business (books, agreements, structure) need your attention?
- Does your business name, brand, and mission reflect what you truly believe in?
Tool of the Week
📚 The Ultimate Guide to Startup Success by Amy Cosper
This book is part checklist, part pep talk, and all clarity. Whether you’re launching your first business or shoring up your current one, Amy’s insights help you avoid costly missteps and build a strong foundation with intention. Check it out here.