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Commentary & Insights on Entrepreneurship The Top of Mind blog brings an array of editorial views to current events shaping the world of entrepreneurship. Engage, exchange, and expand your own view of the world!

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Lessons From Failure: Borrowing Tools From Your Neighbors

Adam Berk had a vision of creating an online library where neighbors could borrow tools and electronics from one another. Why buy a fancy camera you only needed to use once for a big trip? Why invest the money in physical tools for a home remodeling project if you are never going to need them again? Adam and his best friend Dave spent 5 years creating this utopian community, neighborrow, powered by a new form of currency. Their business model was to eventually white label the product and sell it to large apartment buildings and others who wanted to facilitate a borrowing community. But they never achieved their vision. 

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Posted by: Diana Kander
on August 12, 2013
Lessons from Failure: Renting High-end Jewelry

At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund.  The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece.  Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations.  I sat down with Laura to figure out what went wrong.

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Posted by: Diana Kander
on July 25, 2013
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