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Tag: Entrepreneurs

  • I took my daughter to Daymond John’s Black Entrepreneurs Day. Here’s what we learned. | Entrepreneur

    I took my daughter to Daymond John’s Black Entrepreneurs Day. Here’s what we learned. | Entrepreneur

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    Have you experienced “Take Your Child to Work Day” as a kid or parent? It wasn’t really a thing when I was a kid. But now, as a parent with a flexible schedule, I can often find opportunities to share a glimpse of what I do for work with my children.

    Most recently, I brought my 7-year-old daughter to Black Entrepreneur’s Day, an event curated by Daymond John. A few weeks earlier I told Daymond how she was inspired to start her own business after reading his children’s book, Little Daymond Learns to Earn.

    To my surprise, he made a personalized video to congratulate my daughter on her new business and invited her to attend Black Entrpreneur’s Day at the Apollo here in New York City.

    Founded in 2020 by Daymond John, Black Entrepreneurs Day is the ultimate celebration of Black business and entrepreneurship.

    This year’s event was highlighted by insightful conversations with Black business icons including Cedric the Entertainer, Whoopi Goldberg, SHAQ, Anthony Anderson, Cari Champion, Sloane Stephens, and many more.

    Here are three lessons anyone – including my daughter – can learn from the experience.

    Failure isn’t devastating, it’s just annoying

    Growing up, my wife’s favorite movie was Sister Act. This might be due to the fact that she went to Catholic school. Anyway, my daughter and I were able to meet Whoopi Goldberg, the star of my wife’s favorite movie.

    I asked Whoopi what advice she would give to anyone – entrepreneurs included – who suffered a setback. Her reply was short but powerful: “Failure isn’t devastating, it’s just annoying.”

    As a stoic with a high level of resilience, this resonated with me. Sure, I do get annoyed when things go wrong. I’m not going to deny that emotion and pretend like nothing is wrong. In fact, avoiding that emotion makes things even harder on me.

    Research from the National Library of Medicine supports this belief.

    “Avoidance is typically considered a maladaptive behavioral response to excessive fear and anxiety, leading to the maintenance of anxiety disorders.”

    In other words, if you avoid acknowledging a setback, things may continue to spiral out of control.

    But while recognizing the impact of this failure is crucial, it’s also important to not get stuck.

    Instead, make a decision to acknowledge, adapt, and then advance. Like Whoopi said, it’s not devastating – it’s just annoying.

    Failure is data, so long as you learn from it

    My daughter and I also met Cedric The Entertainer, a comedian and actor known for wearing unique, fashionable hats.

    Like many entrepreneurs, he decided to turn his passion into a business. And although he has experienced some success, he admitted his line of hats haven’t achieved the success he hoped for. Reason being, it’s very expensive to produce the type hats he likes at scale.

    Fortunately, he didn’t let that prevent him from taking on new challenges. And for his next venture he partnered up with Anthony Anderson, a fellow comedian and actor. Together they launched AC Barbeque, a line of premium barbeque and seasoning rubs. Their new business is growing at a steady pace as a result of their commitment to delivering a quality product that can be developed and delivered at an affordable price.

    What can you learn from this? You might fail in some of your business ventures too, but failure is a great teacher, so long as you learn from it.

    You only fail if you don’t try

    We were also able to see Carli Champion, a journalist and television personality who currently hosts The Cari Champion Show on Amazon Prime Video Sports Talk. If you’re an ESPN fan you may also recognize her from her days as an anchor on the network.

    In 2012 she joined ESPN as the new host of ESPN2’s live debate show First Take. As the show’s host, she moderated debates between sports pundits Skip Bayless and Stephen A. Smith. But she wanted to do more than just moderate, she wanted to be a journalist.

    After proposing ideas for stories to ESPN, she made her journalistic debut for the network in 2014. But she didn’t stop there. Instead, she spent the next six months petitioning ESPN to become an anchor on SportsCenter, ESPN’s flagship program. In 2015 Champion was promoted to this prestigious position.

    So how can you apply this to your own pursuits? Fiercely advocate for the recognition and rewards you deserve. If you ask, the answer will be yes or no. If you don’t ask, the answer will definitely be no.

    So start making bolder asks, and remember the only way to truly fail is not to try.

    Ready to learn more?

    You can watch the full replay of Black Entrepreneur’s Day on demand. And while you’re at it, check out my interview with Daymond on how you can help your kids foster entrepreneurial skills.

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    Terry Rice

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  • 20 Ways to Master Your Brand on LinkedIn in 2024 | Entrepreneur

    20 Ways to Master Your Brand on LinkedIn in 2024 | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Personal branding is more than a self-promotion exercise. It’s the art of building a holistic professional identity that aligns with your skills, values and career goals. A great personal brand can help you attract customers and business partners while establishing your authority as a leader in your industry.

    If you’ve been in the business world, you’ll surely know that a great image and loyal following can make all the difference to your market share and sales. This is where the unparalleled platform for personal branding for professionals across industries and careers comes in. Yes, I’m talking about LinkedIn!

    LinkedIn reigns supreme as the go-to professional networking platform for building a brand. With a whopping 875 million members and 310 million monthly active users as of 2023, most being business professionals, LinkedIn is a goldmine of branding opportunities for a professional. Your target customers and prospective business partners are waiting for you, but navigating through such a crowded field to get yourself heard can be daunting.

    Thankfully, LinkedIn offers the tools you need to succeed on the platform. You need to make the most of LinkedIn’s inbuilt features to stand out from the crowd and establish your brand — if you want to learn how you’re at the right place! In this article, we’ll explore 20 innovative features that can help you master personal branding on LinkedIn in 2024 and beyond.

    Related: Unlocking the Power of LinkedIn: How Entrepreneurs Can Leverage the Platform for Growth and Success

    1. LinkedIn stories and stories ads

    Gone are the days when LinkedIn was just a digital resume. Now, you can share Stories, just like on Instagram or Snapchat. Use them to give people a peek into your workday or share quick career tips. And if you want to go big, you can even use Stories Ads to reach a wider audience. It’s a fun and interactive way to boost your personal branding on LinkedIn.

    Related: 7 Ideas For Personal Branding Using LinkedIn Stories

    2. Live videos

    Live videos are a game-changer for personal branding on LinkedIn. Imagine the possibilities — hosting a webinar, conducting a live Q&A session, or even giving a virtual tour of your workspace. It’s like having a virtual stage where you can showcase your expertise and engage with your audience in real-time.

    3. LinkedIn polls

    Curious about what your network thinks about a hot industry topic? Or maybe you’re looking for feedback on a project? LinkedIn Polls are your best friend. They’re a simple yet powerful tool for gathering insights and sparking meaningful conversations, enhancing your personal branding on LinkedIn.

    4. Product pages

    If you’re selling B2B products, listen up! LinkedIn Product Pages are akin to having a dedicated website within LinkedIn. It’s a multifaceted feature that not only adds credibility but also serves as a direct channel for potential business opportunities, boosting your personal brand’s reach and reputation.

    Related: How to Find Investors on LinkedIn

    5. Analytics for content creators

    Here’s something for all the data enthusiasts — LinkedIn’s analytics, a treasure trove of insights. You can track engagement metrics and even understand the demographics of your audience. This feature is like having a personal branding dashboard that helps you fine-tune your content strategy based on real-time feedback.

    6. Creator mode

    Activating Creator Mode is akin to spotlighting your content creation efforts. It changes the layout of your profile to highlight your posts and encourages more people to follow you rather than connect. It’s a subtle yet effective way to enhance your personal brand.

    7. Cover story

    You know how they say first impressions last? Well, the Cover Story feature lets you add a short video intro to your profile. Think of it as your elevator pitch but in video form. Well-designed cover stories are a fantastic way to make a memorable first impression.

    Related: 6 Ways to Ace Social Media Branding for Your Startup

    8. Pronouns and name pronunciation

    In today’s world, inclusivity is not just a nice-to-have, it’s a must. Adding your pronouns and a name pronunciation guide may seem like small gestures, but they go a long way in making everyone feel seen and respected. It’s a step towards building a more inclusive personal brand that resonates with a diverse audience.

    9. Skills assessments

    LinkedIn Skills Assessments serve as a third-party validation of your skills, whether Python programming or SEO expertise. Passing these assessments not only adds credibility but also signals to your network and potential employers that you have the skills you claim to have, further solidifying your personal branding efforts on LinkedIn.

    10. LinkedIn newsletter

    Starting a LinkedIn Newsletter is not just about sharing long-form content. It’s about building a community. It offers a platform to delve deeper into topics you’re passionate about and engage with your audience on a more intimate level. Over time, this can position you as a thought leader in your field, significantly boosting your personal branding on LinkedIn.

    Related: 3 Strategies for Maximizing Your Potential on LinkedIn

    11. LinkedIn events

    Hosting a LinkedIn Event is a fantastic branding exercise. Whether it’s a virtual panel discussion or an in-person networking session, these events offer a unique opportunity to bring like-minded professionals together. It’s a great way to provide value, share expertise and build a community, all of which are vital in strong personal branding.

    12. LinkedIn conversation ads

    Imagine sending a personalized ad right into someone’s LinkedIn inbox. That’s what Conversation Ads lets you do. Conversation Ads offer a more personalized and intimate way to engage potential clients or collaborators. It takes a direct approach that can yield high engagement rates, making it a valuable tool in your personal branding arsenal.

    13. LinkedIn lead gen forms

    LinkedIn Lead Gen Forms help simplify the often tedious process of data collection. One click and voila! You’ve got yourself a high-quality lead. With pre-filled information, these forms make it easier for people to engage with your content. It’s a user-friendly feature that makes your personal branding efforts more effective and efficient.

    14. LinkedIn dynamic ads

    These aren’t your run-of-the-mill ads! Dynamic Ads are a step above traditional advertising. They use the viewer’s LinkedIn profile data to personalize the ad in real-time. This level of personalization can significantly increase engagement rates, making your advertising efforts more effective and aligned with your personal branding goals.

    Related: 4 Keys to Building B2B Brand Awareness Online

    15. LinkedIn video ads

    Why tell when you can show? Video Ads let you bring your brand story to life. They offer a dynamic storytelling medium. These ads are all about conveying your brand message in a more engaging and memorable way, enhancing your personal branding efforts on LinkedIn.

    16. LinkedIn carousel ads

    Think of Carousel Ads as a mini-slideshow that allows you to showcase multiple products or narrate a story slide by slide. This feature offers a unique and creative avenue to engage your audience, making it easier to convey complex messages or highlight various aspects of your brand. It’s an inventive approach to enrich your personal branding on LinkedIn.

    17. Featured section and articles

    Your LinkedIn profile is your personal branding billboard. Use the Featured Section to showcase your best work, whether it’s a project, article, or even a testimonial. It serves as a portfolio that visitors can explore, offering a more rounded view of your expertise and skills. Leveraging the featured section, you can focus on putting your best foot forward.

    18. Recommendations and endorsements

    Nothing boosts your credibility like a glowing recommendation or skill endorsement. It’s social proof that you’re as awesome as you say you are. Endorsements from people who have worked with you and can vouch for your abilities add a layer of credibility to your personal brand that’s invaluable.

    19. InMail

    Want to reach out to someone outside your network? InMail helps you break down the barriers by allowing you to reach out to anyone on LinkedIn, regardless of whether they’re in your network. It’s like having a VIP pass to connect with industry leaders, potential clients, or collaborators, expanding your reach and influence.

    20. LinkedIn learning coach, accelerate for marketing, and more

    LinkedIn is constantly rolling out new features like a Learning Coach and Accelerate for Marketing. Whether it’s recommending courses to enhance your skills or optimizing your marketing campaigns, these features offer actionable insights that can be instrumental in boosting your personal brand.

    Ready to boost your personal brand?

    Personal branding on LinkedIn is a dynamic, ongoing process that requires strategic use of the platform’s multifaceted features, as we discussed. And the most important factor here is undeniably the content you present. If you don’t know where to start, consider the expertise that an experienced design agency can bring in crafting impactful content to create a cohesive and compelling professional narrative.

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    Vikas Agrawal

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  • Master the Stage — 7 Proven Ways to Stand Out As a Public Speaker | Entrepreneur

    Master the Stage — 7 Proven Ways to Stand Out As a Public Speaker | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a world where information is readily available, and competition is fierce, standing out as a speaker in a saturated industry can be a daunting task.

    However, with the right approach and a few strategic moves, you can set yourself apart and make a lasting impact. As a professional paid speaker who has spoken at several organizations and conferences over the last 10 years, there are a few hacks that I’ve learned along the way.

    Here are seven tips to help you shine in a crowded field.

    1. Find your unique voice

    The first step toward standing out is to discover what sets you apart from others.

    Identify your unique perspectives, experiences and expertise that make you different from the rest of the field. Embrace your uniqueness and let it shine through your presentations by being your authentic self. Authenticity is the key to capturing the attention and trust of your audience.

    2. Define your niche

    Instead of trying to appeal to everyone, focus on a specific niche within your industry.

    Specializing in a particular area allows you to develop deep knowledge and expertise, making you the go-to expert for that niche. This targeted approach helps you build a reputation and attract an audience that is genuinely interested in your expertise.

    There’s a saying that I love that says, “Instead of going a mile wide and three feet deep, try going three feet wide and a mile deep.”

    In other words, the deeper you go, the more your audience wants to know.

    Related: The Complete, 20-Step Guide to Ace Public Speaking

    3. Deliver exceptional content

    The quality of your content is crucial for standing out. Invest time into researching, developing and refining your presentations.

    Offer fresh perspectives, valuable insights and actionable takeaways for your audience. By consistently delivering high-quality content, you will build a reputation as a speaker worth listening to. If creating high-quality presentations is not one of your strong points, it’s okay to hire a professional who can make you and your presentation look top-notch so that you can focus on making sure your delivery is exceptional and memorable.

    4. Hone your storytelling skills

    Storytelling is a powerful tool for captivating any audience.

    Develop your storytelling skills to engage and inspire your listeners. Craft compelling narratives that connect with people on an emotional level. Well-told stories will make your message memorable and differentiate you from others in your field.

    Stories that gently tug on the heartstrings of the audience are always a win. Making a head connection (with information) is good, but making a heart connection (with authentic and emotional stories) is great.

    5. Embrace multimedia and technology

    In a digital age, incorporating multimedia elements into your presentations can make a significant impact.

    Utilize visuals, videos and interactive tools to enhance your message and engage your audience. Embracing technology and innovative presentation techniques will demonstrate your adaptability and help you stand out from traditional speakers.

    With all of the new artificial intelligence platforms and software that are now available, it’s a great time to see which ones are a good fit for you and your business. Taking a class or a course in AI isn’t a bad idea.

    Related: How to Grow Your Business With Public Speaking

    6. Network strategically

    Building a strong network is essential for any speaker.

    Attend industry events, conferences and seminars to connect with fellow professionals and potential clients. Seek out speaking opportunities where you can showcase your expertise. Collaborate with other influencers in your field to expand your reach and gain credibility. Make eye contact, shake as many hands as possible, and get as many business cards as possible so that you can follow up. The fortune is in the follow-up.

    7. Continuously improve

    Never stop learning and improving your skills as a speaker. Seek feedback from your audience, colleagues and mentors. Take advantage of professional development opportunities, such as workshops and courses, to refine your speaking abilities.

    By investing in self-improvement, you will continuously evolve as a speaker and stay ahead of the competition. There are always new techniques and strategies being created and developed that you can take advantage of.

    Standing out as a speaker in a saturated industry requires a combination of authenticity, expertise and strategic positioning. By finding your unique voice, focusing on a niche, delivering exceptional content, mastering storytelling, embracing multimedia, networking strategically and continuously improving, you can carve out your space and leave a lasting impression on your audience.

    Remember, it takes time and persistence, but with dedication and passion, you can rise above the noise and become a sought-after speaker in your field.

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    Jose Flores

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  • Free Webinar | December 5: How to Capitalize On Your Good Ideas | Entrepreneur

    Free Webinar | December 5: How to Capitalize On Your Good Ideas | Entrepreneur

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    How often have you had a great idea and thought, I should do that, and then you don’t? To make it worse, you then see someone else do it successfully. Now you’re beating yourself up and frustrated at what could have been.

    Clinton Sparks has seen many great ideas never take off. But what Clinton does differently is he learned how to capitalize on his good ideas, and now he joins us on December 5th at 3:00 PM ET for a special webinar where he will talk about:

    • Taking Action Over Claiming Ideas

    • Three Steps to Transform Ideas into Brands

    • The Value of Recognizing Resources

    • Overcoming Self-Doubt and Excuses

    You’ve probably seen or used a product influenced by Clinton and his ability to put ideas to work. He’s worked with global icons like Eminem, Lady Gaga, Snoop Dogg, Pitbull, Diddy, and even launched the career of mega-platinum DJ Snake. In addition, he’s partnered with industry giants, including Ciroc, Build-a-Bear, Sirius, Red Bull, Faze Clan, MLB, NFL, and many others.

    What’s even more exciting is that Clinton is joining the Entrepreneur+ roster. Combining his decades of industry knowledge with his ability to spot trends before they happen, Clinton will create actionable content to help subscribers. Regardless of whether you are a CEO, college student, or aspiring entrepreneur — Clinton wants to give you an edge to help elevate you professionally.

    Sign Up Now

    About the Speaker:

    Clinton is a renowned entertainment mogul, author, speaker, entrepreneur, visionary brand builder, creative executive, and leading-edge innovator when it comes to integrating culture, collaboration, and cross-platform marketing with an outstanding track record of success, and background managing multiple products from ideation to market launch.

    He is also a Grammy-nominated, multi-platinum music producer, songwriter and DJ responsible for over 75 million records sold.

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    Entrepreneur Staff

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  • Top 50 Best Graduate Programs for Entrepreneurs in 2024 | Entrepreneur

    Top 50 Best Graduate Programs for Entrepreneurs in 2024 | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Can you learn to be an entrepreneur? It’s a common question in entrepreneurship circles. After all, an entrepreneur is a little of everything—a visionary, hustler, builder, and boss. Can you learn that stuff in a classroom? The answer is yes and no: You don’t have to go to school for it, but doing so can help accelerate your growth and provide you with the fundamentals for entrepreneurial success. Not all elements of entrepreneurship can be found in a book, of course, which is why the best colleges and universities have robust programs that support students’ startups and help build the kind of networks that last a lifetime.

    Related: Top 50 Best Undergraduate Programs for Entrepreneurs in 2024

    So which are the best schools? Entrepreneur has partnered with The Princeton Review for 18 years to answer that question—ranking the top undergraduate and graduate programs for entrepreneurs. This year’s survey considered hundreds of colleges and universities in the U.S., Canada, Mexico, and Europe, and evaluated them on a multitude of factors—including their programming, their available mentors, and their graduates’ success rates in the business world. Read on to see which schools made the grade. (To read more about our methodology, pick up the Dec. 2023 issue of Entrepreneur.)

    Courtesy of Rice University

    1. Rice University (#1 Southwest)

    Rice University

    Liu Idea Lab for Innovation & Entrepreneurship

    Houston, TX

    Number of Entrepreneurship Courses Offered: 19

    Tuition: $66,000

    Companies Started by Graduates Over the Last 5 Years: 291

    What Sets Us Apart

    Rice Innovation Fellows supports grad students with education, dedicated space, personalized mentorship and non-dilutive funding to transition research from the lab to the real world. Tech Commercialization Lab pairs MBAs with PhDs to create multidisciplinary teams translating cutting-edge technologies into commercial products. Lilie Launchpad provides equity-free funding, development workshops, community/social events, and 1:1 mentorship. Napier Rice Launch Challenge provides over $165K in equity-free funding across two separate competitions. Summer Venture Studio immersive accelerator program provides student ventures with $15K each and mentorship. Venture Capital E-Lab course provides VC experience, meaningful connections, and network by working in proximity with a partner VC firm. Owlspark provides Rice-affiliated startups resources, funding, and space to launch companies/technologies. It has served 63 startups and over 159 entrepreneurs (48% are still active, and have raised over $24M). BlueLaunch is tailored for the non-tech small business entrepreneur. Rice Alliance hosts the Texas Life Science and Energy Tech Venture Forums, two of the largest energy and life science venture capital conferences in the region. Rice Business Plan Competition is one of the world’s richest and largest business plan competitions, with more than 269 past competitors in business today or successfully exited having raised nearly $5.5 billion in capital and over $7.6 billion in exit dollars.

    Courtesy of University of Michigan

    2. University of Michigan (#1 Midwest)

    University of Michigan

    Zell Lurie Institute for Entrepreneurial Studies + Center for Entrepreneurship

    Ann Arbor, MI

    Number of Entrepreneurship Courses Offered: 82

    Tuition: $68,196 (in-state); $73,196 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 503

    What Sets Us Apart

    An entrepreneurial vision began at the University of Michigan in 1927 with the launch of the first family business class. Since this initial offering, the entrepreneurial curriculum at U-M has grown to include courses in opportunity recognition, commercializing a concept, holistic thinking, team development, venture capital, and more. The courses and programs bridge the gap between academia and real-world entrepreneurship by providing immersive opportunities for students to apply their skills in practical settings.

    Graduate students experience each step of venture creation. From participating in one of six student-led funds to supporting the launch of a company within our Desai Accelerator program, U-M offers a sample of entrepreneurship for everyone.

    While not all students pursue an entrepreneurial career path, U-M recognizes entrepreneurship as a foundational skill set. Our courses cover a broad range of topics, including family business, intrapreneurship, entrepreneurship through acquisition, and new venture creation, inspiring creativity and innovation in students from diverse academic backgrounds.

    In addition to our top-ranked programs in business, healthcare, technology, and engineering, U-M offers graduate students the opportunity to work on groundbreaking research projects at an institution with over $1.7 billion in research funding. This combination of academic excellence and real-world experience makes U-M an ideal destination for students exploring entrepreneurship.

    Courtesy of Babson College

    3. Babson College (#1 Northeast)

    Babson College

    The Arthur M. Blank Center for Entrepreneurship

    Babson Park, MA

    Number of Entrepreneurship Courses Offered: 42

    Tuition: $71,564

    Companies Started by Graduates Over the Last 5 Years: 394

    What Sets Us Apart

    Babson teaches Entrepreneurial Thought and Action® across all disciplines. Arthur M. Blank Center for Entrepreneurship is the hub for resources, including the Butler Launch Pad which offers co-working spaces, mentors, workshops, competitions, experts, and seed funding.

    Our application-based Summer Accelerator, a 10-week intensive provides advisors, mentors, and programming worth over $200K of in-kind services, to accelerate students launching and growing their businesses.

    Center for Women’s Entrepreneurial Leadership (CWEL) empowers and develops women and people of color entrepreneurs, and offers both WIN Lab, an application-based 12-week accelerator for female founders centered on milestone planning, competency building, and connections, and Black Women’s EL, a 6-month virtual action tank.

    Social Innovation Lab connects a global, interdisciplinary community of students and mentors dedicated to building social impact ventures. All programs may be taken either for credit or for experience. Institute for Family Entrepreneurship fosters entrepreneurship in family businesses and offers a 4-year Amplifier Program for students to work with classmates from other family businesses and connect with parents and owners of family firms, with the goal of launching entrepreneurial ventures in their family businesses.

    Our 10,000-square-foot Weissman Foundry offers a collaboration space, media lab, wood shop, kitchen, and performance space where students can create ideas and prototype.

    Courtesy of Washington University in St. Louis

    4. Washington University in St. Louis (#2 Midwest)

    Washington University in St. Louis

    Skandalaris Center for Interdisciplinary Innovation & Entrepreneurship

    St. Louis, MO

    Number of Entrepreneurship Courses Offered: 55

    Tuition: $65,219

    Companies Started by Graduates Over the Last 5 Years: 153

    What Sets Us Apart

    Washington University in St. Louis encourages creativity, innovation, and entrepreneurship at all levels and across all disciplines. This distinguishes it from its peer institutions that limit entrepreneurship education to the business school or other academic units. Olin Business School students can take classes in other schools, emphasizing the importance of an interdisciplinary approach. Most courses connect students to the St. Louis community, expanding students’ networks, such as the addition of The League. This class brings in successful entrepreneurs to guide student founders (who are devoting most of their non-class time to launching their ventures). Complementing WashU’s rigorous academics, the Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship acts as a hub for co-curricular entrepreneurship activities. The center provides hands-on workshops, graduate fellowships through a partnership with The Graduate Center (open to PhDs in science and humanities and social work students), mentors, grant writing assistance, entrepreneurship competitions, and partnerships with the St. Louis entrepreneurial ecosystem. Most notably, the majority of opportunities are open to ALL undergrad and graduate students, faculty, staff, postdocs, medical students, and alumni. It is this blend of curricular and cocurricular, campus and community, and creativity and entrepreneurship—unlimited by discipline or school—that distinguishes our entrepreneurial offerings.

    Courtesy of University of California–Los Angeles

    5. University of California–Los Angeles (#1 West)

    University of California–Los Angeles

    Harold and Pauline Price Center for Entrepreneurship & Innovation

    Los Angeles, CA

    Number of Entrepreneurship Courses Offered: 37

    Tuition: $71,071 (in-state); $71,071 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 216

    What Sets Us Apart

    UCLA Anderson has been recognized as a leader in entrepreneurial education for several decades. We offer a wide and deep curriculum that provides our students with management skills suited to an entrepreneurial setting and helps them to develop an entrepreneurial mindset. Our elective offerings cut across the functional areas of management and multiple disciplines. We also offer courses tailored to our location in Los Angeles and industries in our economy, in sectors such as consumer tech, media and entertainment, real estate, social impact, private equity, and health tech.

    Courtesy of The University of Texas at Austin

    6. The University of Texas at Austin (#2 Southwest)

    The University of Texas at Austin

    Austin, TX

    Number of Entrepreneurship Courses Offered: 62

    Tuition: $52,550 (in-state); $58,270 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 95

    What Sets Us Apart

    The biggest advantage is the size and variety of offerings that the flagship university of University of Texas at Austin can offer. 62 formal classes across 19 departments specifically focus on entrepreneurship. The ensuing cross-fertilization between MBAs and PhD students in science, engineering, and computer science produces powerful and creative new ideas. We also have an award-winning incubator, world-famous competitions, student organizations, and mentorship programs that are campus-wide and well-connected to the business community.

    Our MSTC Program prepares tech and business professionals for moving technologies from concept to market. Candidates learn to evaluate emerging technologies, identify customers and marketing strategies, develop broad, flexible business plans, build a management team to drive the new venture, devise approaches for securing funding, and manage intellectual property.

    The completion of our new 500,000-square-foot Rowling Hall brings together in one space the main powerhouse entrepreneurship programs at the University: the full-time MBA, the MS in Tech Commercialization and the Texas Venture Labs.

    The city of Austin offers strong advantages. Startups account for a larger share of business in Austin than in nearly all major US metros and Austin ranks 5th for new business per 1,000 population. Austin is at or near the top of similar lists by Crowdspring, Business.org, and Forbes’ ranking of cities creating the most tech jobs in the country for the past several years.

    Courtesy of University of Washington

    7. University of Washington (#2 West)

    University of Washington

    Arthur W. Buerk Center for Entrepreneurship

    Seattle, WA

    Number of Entrepreneurship Courses Offered: 71

    Tuition: $37,392 (in-state); $55,074 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 395

    What Sets Us Apart

    Graduate students pursuing or interested in entrepreneurship quickly discover a robust slate of programming and opportunity at the University of Washington. Graduate students work next to undergraduate students in the Creative Destruction Lab multi-quarter course to help massively scalable, seed-stage, science-based companies. CDL-Seattle is just the third US offering and is hosted in the Foster School of Business. Graduate students choose post-career opportunities like the 12-month Master of Science in Entrepreneurship to launch their own idea or something new. The Technology Entrepreneurship Certificate offers students a chance to work with UW inventors on their market-ready applications and can apply for fellowships in UW technology ventures or local angel funds. The multi-day digital health workshop and consumer product workshops connect students to real-world professionals to develop their ideas. The Engineering Innovation in Health program brings together undergrads, graduate students, post-docs, and more to provide experience in medical device development and innovation. The Institute of Protein Design (IPD) offers graduate and PhD students a chance to become founders on revolutionary technologies. Collectively, IPD spinouts have raised more than $1 billion dollars, fueling Seattle’s biotech boom. Graduate students can also harness real-world startup investment experience in the 3-quarter Angel Investing course where real money is invested and earned.

    Courtesy of University of Virginia

    8. University of Virginia (#1 Mid-Atlantic)

    University of Virginia

    Batten Institute for Entrepreneurship, Innovation & Technology

    Charlottesville, VA

    Number of Entrepreneurship Courses Offered: 34

    Tuition: $68,794 (in-state); $71,112 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 174

    What Sets Us Apart

    Darden is distinguished by a long-held commitment to developing world-class entrepreneurs and entrepreneurially minded leaders, evidenced by:

    • Robust Endowment for Entrepreneurship: A $158+ million endowment is solely dedicated to entrepreneurship and innovation and administered by the Batten Institute.
    • Largest Pool of Entrepreneurial Scholarships: The prestigious Batten Scholarships offer full and partial-tuition scholarships to dozens of Darden MBAs annually (25+ are typically full rides).
    • Renowned Faculty: Teaching excellence is a hallmark of Darden, and instructors in entrepreneurship and innovation comprise over 25% of all faculty. Darden faculty in fact helped create the discipline of entrepreneurship in business academia.
    • Abundance of Courses: Darden has nearly 30 graduate courses directly related to entrepreneurship touching 4 in 5 students. Students also benefit from workshops, bootcamps and field experiences via our 10+ staff
    • Venture Acceleration: From “Startup Academy” to our paid Summer i.Lab Incubator (with follow-on non-dilutive funds), Darden students have plentiful opportunities to nurture their ventures from idea to reality.
    • Sponsored Internships: The Darden Venture Fund Fellows and Batten Venture Internships support dozens of students in kickstarting careers with high-growth startups and VCs.
    • On-Site InnovationLab: Darden operates UVA’s flagship iLab, a 10,000-square-foot facility with a maker space that supports a variety of venture creation programs.
    Courtesy of University of South Florida

    9. University of South Florida (#1 South)

    University of South Florida

    Nault Center for Entrepreneurship

    Tampa, FL

    Number of Entrepreneurship Courses Offered: 121

    Tuition: $8,500 (in-state); $16,435 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 157

    What Sets Us Apart

    Our graduate offerings are distinct in several aspects:

    1. We designed an interdisciplinary 30-credit program with two engineering courses and other courses that have a strong STEM character since the focus of the graduate program is technology entrepreneurship.
    2. We offer several opportunities where students can take an internship at a startup, large company, accelerator, or one of our own incubators on the USF campus.
    3. Our program offers students the opportunity to gain experience pitching in several pitch competitions with different foci; we pioneered a very experiential competition that unfolds over one full academic year based on the commercialization of a new product. Student teams compete to head up three teams that each obtain $250K startup capital and place the product in different venues around the Tampa Bay region and beyond. Teams had to report monthly to a board of directors the progress they made. The team with the highest revenues won $ 75K, the runner-up team won $ 25K, and the third-place team won $10K.
    4. We offer students the opportunity to gain hands-on experience working with new ventures in a foreign country. Last year, we took 23 students to Costa Rica.
    5. Our graduate program is tightly integrated with our Student Innovation Incubator and we strongly encourage our students to try out their ideas and with the help of mentors assess whether the idea can be shaped into a viable business.
    Courtesy of Northeastern University

    10. Northeastern University (#2 Northeast)

    Northeastern University

    NU Center for Entrepreneurship Education

    Boston, MA

    Number of Entrepreneurship Courses Offered: 67

    Tuition: $44,280

    Companies Started by Graduates Over the Last 5 Years: 252

    What Sets Us Apart

    NU is known for its experiential education and so the courses tie theory with practice. The courses take advantage of the strong entrepreneurship ecosystem we have on campus and the multiple sister schools we have around the world. The courses are populated by students all across campus, as entrepreneurship is tied into their curricula. This cross-disciplinary environment is bolstered by students and faculty. We have faculty in 23 departments teaching entrepreneurship. Our faculty teaching the courses are research-productive, so they are developing courses from their research. This allows us to provide great breadth and depth in offerings. A hallmark of NU is its emphasis on experiential learning and its co-op program. NU is consistently rated by the Princeton Review as the number one co-op school in the country. This is reflected in teaching approaches as the culture at NU is to mix the classroom with experiential activities. NU has one of the most active entrepreneurship ecosystems in the country. Princeton Review rated NU the 4th most entrepreneurial campus. Our students are required to work with startups through the student-run accelerator, IDEA, or to create their own companies. The FT MBA requires a 6 month co-op, where students are working full-time with companies in their fields. Students are therefore learning both theory and practice.

    Courtesy of Erasmus University Rotterdam

    11. Erasmus University Rotterdam (#1 International)

    Erasmus University Rotterdam

    Erasmus Centre for Entrepreneurship, Erasmus Enterprise, Yes!Delft Rotterdam (3 institutes)

    Rotterdam, Netherlands

    Number of Entrepreneurship Courses Offered: 37

    Tuition: $58,276

    Companies Started by Graduates Over the Last 5 Years: 120

    What Sets Us Apart

    The Master in Strategic Entrepreneurship provides students the entrepreneurial competencies and skills, and the strategic entrepreneurship theories to discover, recognize, and exploit business opportunities for existing firms or by building a new one. Our aim is to provide high-quality training that allows students to start their own companies or have entrepreneurial jobs within established firms. One important aspect of our offering is to train for both entrepreneurship and corporate entrepreneurship. Students are exposed to a variety of entrepreneurial challenges that allow them to acquire entrepreneurial skills needed for their careers (either within an existing organization or for a new venture).

    Courtesy of The University of Oklahoma

    12. University of Oklahoma (#3 Southwest)

    The University of Oklahoma

    Tom Love Center for Entrepreneurship

    Oklahoma City, OK

    Number of Entrepreneurship Courses Offered: 25

    Tuition: $33,307 (in-state); $52,898 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 37

    What Sets Us Apart

    All MBA students in the Rainbolt Graduate School of Business select a specialty area. Entrepreneurship is one of the most popular specialties. All Entrepreneurship students submit proposals to the statewide business plan competition, the Love’s Cup, and other plan and pitch events. To prepare, students take courses in lean startup and business canvas principles and receive mentoring from practicing entrepreneurs, industry experts, and world-class entrepreneurial faculty. Along each step of the entrepreneurial journey, as students ideate, research, develop and launch ventures, students are engaged in experiential programming, internships, and networking with the entrepreneurial community. Students have access to and are supported in using cutting-edge 3D printing, digital fabrication, and advanced VR technologies in the Tom Love Innovation Hub where we provide collaborative learning spaces. Regular courses are supplemented by 1-credit hour courses in Strategic Entrepreneurship, Social Entrepreneurship, Family Business and Entrepreneurial Law. The MBA program requires all students to study abroad and trips are now focused on innovation and entrepreneurship in Europe and Asia. Overall, we offer a highly favorable environment for graduate entrepreneurship students to achieve their business launch, company renewal, and economic development goals.

    Courtesy of University of Maryland

    13. University of Maryland (#2 Mid-Atlantic)

    University of Maryland

    Academy for Innovation and Entrepreneurship

    College Park, MD

    Number of Entrepreneurship Courses Offered: 30

    Tuition: $43,470 (in-state); $52,380 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 89

    What Sets Us Apart

    • UMD’s entrepreneurship programs were featured in two Chronicle of Higher Education cover stories: “Now Everyone’s an Entrepreneur” (2015), “Can Design Thinking Transform Higher Ed?” (2017). UMD is embedding lean startup and design thinking into the core curriculum for every UMD student.
    • Master of Professional Studies in Technology Entrepreneurship (mte.umd.edu): Launched in 2014, this 15-month, 30-credit exclusively online program focuses on launching and leading innovative startups and corporate ventures. Being 100% online means 1) maximum geographic flexibility with 30% of students outside the US, and 2) maximum time flexibility for working professionals. In typical years, the program graduates 30+ students annually.
    • National Science Foundation Innovation Hub: UMD is 1 of only 10 leading universities in the US in NSF’s lab-to-market I-Corps innovation hub program.
    • Dingman Center (est. 1986): This award-winning hub creates an inclusive environment to educate, empower, and equip students with the skills to be an entrepreneur and the resources to make their ideas a reality.
    • I-Corps Venture Internship and FedTech: With UMD’s $750M in annual research and its close proximity to 87 federal labs, the UMD’s I-Corps Venture Internship and partnership with FedTech offers grad students opportunities to explore the commercialization of promising technologies from UMD and federal labs like NASA.
    Courtesy of University of Utah

    14. University of Utah (#3 West)

    University of Utah

    Lassonde Entrepreneur Institute

    Salt Lake City, UT

    Number of Entrepreneurship Courses Offered: 27

    Tuition: $34,000 (in-state); $34,500 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 139

    What Sets Us Apart

    One of our unmatched qualities is the ability for students to get an exceptional academic experience learning entrepreneurship inside of the classroom and then immediately apply what they have learned through our wide array of programs and offerings outside of the classroom. This allows thousands of students to bring their educations to life and start their entrepreneurial journeys while still enrolled in college. No other university provides the same depth and variety of entrepreneurial learning and experiences as we do at the University of Utah.

    The opportunities we provide students to learn and explore entrepreneurship include academics, competitions, grants, workshops, prototype assistance, networking, mentoring, and more. All of our extracurricular programs are free for all students at the University of Utah.

    Students have access to Lassonde Studios, a one-of-a-kind building that mixes a 20,000-square-foot creative space on the main floor with 400 residences above and which has received worldwide attention, including features in the New York Times and Architectural Digest.

    Our support doesn’t end at graduation. Starting in the fall of 2022, all students at the University of Utah are welcome to join our new alumni program, called Lassonde for Life. This program provides free, lifelong entrepreneurial support to all alumni through workshops, networking opportunities, resources, and more.

    Courtesy of The University of Texas at Dallas

    15. The University of Texas at Dallas (#4 Southwest)

    The University of Texas at Dallas

    Institute for Innovation and Entrepreneurship

    Richardson, TX

    Number of Entrepreneurship Courses Offered: 32

    Tuition: $15,309 (in-state); $29,820 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 99

    What Sets Us Apart

    • Experiential learning on launching startups, commercializing IP, and partnering with corporations. We partner with organizations such as the DOD and AT&T to bring real-world problems to students to develop new technologies and innovations. Our venture capital courses place students in venture capital firms for a semester, conducting due diligence with the partners.
    • We work with all students across campus, including the rapidly growing BioEngineering & Sciences program. One student spinout CerSci Therapeutics was acquired for what will be $900M (based on milestones), proving our academic and resource support model for any UTD grad student.
    • We host multiple events for students to meet and learn from prominent business leaders.
    Courtesy of The University of Tampa

    16. The University of Tampa (#2 South)

    The University of Tampa

    John P. Lowth Entrepreneurship Center

    Tampa, FL

    Number of Entrepreneurship Courses Offered: 10

    Tuition: $16,392

    Companies Started by Graduates Over the Last 5 Years: 185

    What Sets Us Apart

    UT’s Master of Science in Entrepreneurship (MSE) offers distinguishing features like experiential learning, allowing students to work on their projects or with companies in UT’s incubator and accelerator programs. This real-world application of concepts is vital for pragmatic business understanding. Additionally, the program offers a customized learning approach, tailored to each student’s objectives. Our affiliation with the acclaimed Lowth Entrepreneurship Center provides access to expert advisors and a thriving entrepreneurial community. Students can utilize assignments to prepare business plans and investor presentations, presenting a practical advantage in the real world.

    Courtesy of Saint Louis University

    17. Saint Louis University (#3 Midwest)

    Saint Louis University

    Chaifetz Center for Entrepreneurship

    St. Louis, MO

    Number of Entrepreneurship Courses Offered: 104

    Tuition: $52,035

    Companies Started by Graduates Over the Last 5 Years: 103

    What Sets Us Apart

    We have dense graduate academic offerings: entrepreneurship majors in business, campus-wide minors and supporting areas in entrepreneurship open to all, and 104 classes with entrepreneurship content across 20 departments. We support entrepreneurship in all its forms with a nationally recognized entrepreneurship center, student business and medical technology accelerators, two makerspaces, an NSF I-Corps site, a shared-use kitchen and student-led cafe, a student-led entrepreneurship legal clinic, and two on-campus incubator spaces. We strive for innovation in action from our collection of competitions (elevator pitch, hackathon, etc.), to the textbook we have developed that showcases our approach (Entrepreneurial Small Business from McGraw-Hill) and that is used in over 250 US schools, to innovative pedagogy such as classes co-taught by standing faculty (many with entrepreneurial experience) and local practicing entrepreneurs and experts. We have tight and deep integration with one of America’s top-ranked startup cities (see WSJ, Kauffman, etc.). Our team members are prominent players in national entrepreneurship efforts like the Chaifetz Fellows Network, Kern Engineering Entrepreneurship Network, and the Experiential Classroom.

    Courtesy of University of Notre Dame

    18. University of Notre Dame (#4 Midwest)

    University of Notre Dame

    The IDEA Center

    South Bend, IN

    Number of Entrepreneurship Courses Offered: 55

    Tuition: $61,000

    Companies Started by Graduates Over the Last 5 Years: 81

    What Sets Us Apart

    Notre Dame’s graduate entrepreneurship programs are distinguished by their commitment to values embodied in the university’s mission of being a “force for good in the world.”

    ND has a global network of eleven campuses including Dublin, Jerusalem, Beijing and Mumbai. The ESTEEM Program and IDEA Center are leveraging these to recruit startups to South Bend, Indiana, so they can tap into campus resources as a launchpad for their US market entry while gaining access to an alumni network of 150,000+ members. Local resources include a technology de-risking team, mentoring, funding, prototyping, lab/office space, and more, and provide hands-on learning opportunities for students.

    A hallmark of ESTEEM is the eleven-month long experiential capstone project. In 2023, 6 of the 58 capstone projects are with European companies. Through these projects, ESTEEM is developing local economies while also providing global networking and partnering opportunities for students and founders. The Migrant Impact Network, serving the humanitarian needs of 100 million forcibly displaced people, began as an ESTEEM capstone project. ND signed an MOU with the PorterShed, a leading incubator in Ireland, and is also working with its Jerusalem campus to offer developer training to Palestinians. Discussions are underway in London.

    The ESTEEM Program exemplifies the university’s dedication to fostering global citizenship, promoting innovation, and delivering practical, hands-on learning experiences.

    Courtesy of University of California San Diego

    19. University of California San Diego (#4 West)

    University of California San Diego

    Sullivan Center for Entrepreneurship and Innovation

    La Jolla, CA

    Number of Entrepreneurship Courses Offered: 19

    Tuition: $53,122 (in-state); $62,274 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 62

    What Sets Us Apart

    The Rady School of Management’s MBA program is distinguished by its emphasis on entrepreneurship throughout the entire program. The program’s core courses and electives are built around innovation and entrepreneurship, providing students with a strong foundation in startup business planning, new product development, venture funding, the commercialization of technologies, among many others. In addition, all MBA students are required to take the capstone Lab to Market course sequence. Lab to Market’s three-course sequence begins in the classroom and moves into a project-based environment. Students perform market research and validation, feasibility studies, develop a business case and then a business plan and a go-to market strategy. Working in teams, students generate business ideas, evaluate ideas from companies, and gain exposure to commercialization opportunities. Teams work closely with the Rady School’s robust network of external advisors and coaches as they develop their business strategies. The Lab to Market course is not a classroom simulation, rather a real conduit for students to design and launch a startup company.

    Courtesy of DePaul University

    20. DePaul University (#5 Midwest)

    DePaul University

    Coleman Entrepreneurship Center

    Chicago, IL

    Number of Entrepreneurship Courses Offered: 51

    Tuition: $67,000

    Companies Started by Graduates Over the Last 5 Years: 88

    What Sets Us Apart

    DePaul University sits in the heart of Chicago’s business district and was ranked in the top 25 “most innovative schools” in 2016 by US News & World Report. DePaul has offered academic programs in entrepreneurship since 1982. The Coleman Entrepreneurship Center (CEC) launched in 2003 and provides experiential programs to complement our strong academic record. The CEC opened a $1 million, 5,000-square-foot center in 2016. As the hub of entrepreneurship at DePaul, the CEC connects students/alumni with the entrepreneurship ecosystem in Chicago. CEC programs are designed to be relevant for students/alumni from every college no matter which industry they enter. The CEC empowers students, alumni and community members to build sustainable businesses. Executive Director of the CEC, Bruce Leech (DePaul MBA 1981), founded a $90 million business. He brings strong experiential components to the CEC, connecting the CEC with the entrepreneur community through memberships at 1871, the premier business incubator in the US, and 2112, an incubator for music, film, and creative tech. In 2019, Maija Renko PhD. joined as the Coleman Endowed Chair and brings years of entrepreneurial research to our curriculum. In 2019, we launched the first Women in Entrepreneurship Institute to provide programs, accelerators and research to women in entrepreneurship. We also have our new social impact programs, including our Social Impact Incubator to help entrepreneurship in under-served areas of Chicago.

    Courtesy of Syracuse University

    21. Syracuse University (#3 Northeast)

    Syracuse University

    Blackstone Launchpad powered by TechStars; Couri Hatchery; Center for Digital Media Entrepreneurship; Institute for an Entrepreneurial Society

    Syracuse, NY

    Number of Entrepreneurship Courses Offered: 39

    Tuition: $48,654

    Companies Started by Graduates Over the Last 5 Years: 97

    What Sets Us Apart

    We have a dedicated department of Entrepreneurship, reflecting SU’s commitment to entrepreneurship as a key aspect of its strategic plan. We instill an entrepreneurial mindset in all students, and they have access to many professors who specialize in researching and teaching entrepreneurship. Tenured faculty publish in leading journals and professors of practice have substantial entrepreneurial experience. A faculty member received the 2023 Mentor Award by the Academy of Management.

    Our curriculum allows students to focus on different tracks: new venture creation, social entrepreneurship, family business, and corporate entrepreneurship, so students can take courses designed around their interests. We also offer courses in conjunction with other schools on campus, allowing access to skillsets and resources outside the business school.

    We take experiential learning seriously and our students work with companies in both for-profit and social settings. We help them take what they learn inside the classroom and put it into action. We pair them up with entrepreneurs from the community via internships, consulting projects, specialized courses, community engagement, etc. We work with over 2000 entrepreneurs per year in our Women’s Business Center, South Side Innovation Center, and more. Our Blackstone Launchpad has had tremendous success with student startups given robust mentoring and coaching activities. This led to students receiving national media exposure (Newsweek, AdWeek, & others).

    Courtesy of University of Wisconsin-Madison

    22. University of Wisconsin-Madison (#6 Midwest)

    University of Wisconsin-Madison

    Weinert Center for Entrepreneurship

    Madison, WI

    Number of Entrepreneurship Courses Offered: 24

    Tuition: $26,265 (in-state); $49,913 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 17

    What Sets Us Apart

    A distinguishing attribute of our graduate program is the significant amount of applied learning that takes place as the students work with local small businesses to develop growth strategies, explore commercialization opportunities for university research, or launch businesses based on their own ideas. The combination of academic excellence with practical application has resulted in significant recognition over the years. In addition to The Princeton Review/Entrepreneur Magazine having named us as one of the top programs, we were ranked #6 in the US for Entrepreneurship education by the Financial Times, named “Model Entrepreneurship MBA Program” by USASBE, given an Excellence in Entrepreneurship Teaching Innovation by GCEC, and awarded a $5M Kauffman Campus grant. In addition, UW-Madison is consistently ranked among the top ten institutions in NSF research funding. These awards are just a few examples of the UW-Madison campus’ successful history of business, academic and social entrepreneurship. The UW works closely with the community and early-stage investors to make student participation integral to the vibrant university start-up ecosystem.

    Courtesy of Boston University

    23. Boston University (#4 Northeast)

    Boston University

    Innovate@BU

    Boston, MA

    Number of Entrepreneurship Courses Offered: 29

    Tuition: $61,050

    Companies Started by Graduates Over the Last 5 Years: 26

    What Sets Us Apart

    A graduate student at BU who is interested in entrepreneurship has a variety of classes available to them both in their school and in other schools. This leads to a rich classroom environment with students from diverse backgrounds working on projects together. Outside the classroom, we have robust experiential extracurricular programs designed specifically for graduate students. These include the VCIC venture capital competition and the G51 program, which gives students the opportunity to do due diligence on “live” deals. We also have the Catalyst program, which teaches students how to undertake customer discovery on technologies that have been discovered in BU’s research labs. On completion of this experiential program, the student obtains a micro-credential in Customer discovery. We also have a thriving university-wide co-curricular program that allows students to create their own ventures or work on their own projects. This is through the Innovate@BU initiative, which is now six years old. A wide variety of programming is held in the BUild Lab, a customer-build innovation space on campus that is closely located to EPIC, a 15,000-square-foot maker space. Both of these facilities are open to all students on campus.

    Courtesy of Arizona State University

    24. Arizona State University (#5 Southwest)

    Arizona State University

    W. P. Carey Center for Entrepreneurship

    Tempe, AZ

    Number of Entrepreneurship Courses Offered: 40

    Tuition: $28,720 (in-state); $48,400 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 24

    What Sets Us Apart

    1. Online (in 2024), and face-to-face Master’s program
    2. A 9-month STEM (starting 2024) STEM-certified dual intrapreneur/entrpreneur track
    3. Business and design “killer” combo with world-class faculty
    4. Highly desired degree from #1 ranked university in innovation, and #3 in entrepreneurship
    5. An ASU ecosystem that has generated over $1 billion in funding across 1,000 start-ups
    6. Top 10 schools for US patents, and partnership with government labs to monetize existing patents
    7. Partnership with US government program that allows students to work on existing patents, and build business model to monetize them, including the grandfathering of the IP technology license.
    8. J. Orin Edson Entrepreneurship + Innovation Institute, ranked no.3 in Kaufman Entrepreneurship growth index, has disbursed over $60 million+ in start-up funding
    9. Skysong Innovation to protect IP created by entrepreneurs
    10. Venture Devils and local angel funding ecosystem gives out $450K every year to promising start-ups
    11. Study-abroad program coming in 2024 that allows for a global perspective
    12. Dedicated mentor and advisory board for students
    Courtesy of Drexel University

    25. Drexel University (#3 Mid-Atlantic)

    Drexel University

    Charles D. Close School of Entrepreneurship

    Philadelphia, PA

    Number of Entrepreneurship Courses Offered: 34

    Tuition: $63,994

    Companies Started by Graduates Over the Last 5 Years: 15

    What Sets Us Apart

    The Close School’s MS in Entrepreneurship and Innovation is designed for recent graduates and working professionals looking to develop and build on their understanding of and experience with entrepreneurship and innovation. The major focuses on developing the entrepreneurial mindset and the skills associated with new venture creation and corporate innovation, and the minor is designed to enrich students’ academic discipline-based programming with applied coursework. The MS prepares students to innovate within established companies, work for small/growing ventures, start a new venture, and/or seek self-employment. Personally, students learn and apply an approach to building entrepreneurial skills and nurturing an entrepreneurial mindset. The Close curriculum is designed around these skills, including:

    The Lean Launch, which positions students to start a real business; Learning from Failure, which creates the conditions for students to learn from failure and appreciate risks that come with launch and growth; and Entrepreneurship Essentials, which builds skills and competencies that entrepreneurs need in a fast-moving job market.

    Schuylkill Yards, a 14-acre “innovation neighborhood” located between Drexel and Philly’s Amtrak station includes 5 million square feet of entrepreneurial space; teaching and research facilities; corporate offices; and residential, retail, and cultural venues, embedding the Charles D. Close School within part of an even more extensive entrepreneurial ecosystem.

    Courtesy of University of Oregon

    26. University of Oregon (#5 West)

    University of Oregon

    Lundquist Center for Entrepreneurship

    Eugene, OR

    Number of Entrepreneurship Courses Offered: 18

    Tuition: $30,492 (in-state); $42,498 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 17

    What Sets Us Apart

    • Programs are co-created with student leaders. We believe that an entrepreneurship program should be entrepreneurial, and students are considered co-founders and leaders of all of our programs.
    • Proximity to Silicon Valley. We bring tech founders and investors up from the Bay Area on a regular basis, and every year bring our students to SF and Seattle for on-site visits and events. I spent 10 years leading entrepreneurial programs at Michigan in Ann Arbor prior to coming to Oregon, and we’ve been able to productively engage more SF-based stakeholders this year than any of the years I was at Michigan.
    • Connectivity with cutting-edge biotechnology. The Phil and Penny Knight Campus for Accelerating Scientific Impact is a $1B initiative to advance bioengineering and applied science research. Students from the Knight Campus participate side by side with business students to develop commercialization plans for deep tech.
    • Collaborative community building across many disciplines. Our programs serve students across the entire UO campus and we encourage multidisciplinary team formation whenever possible.
    • Opportunities to work directly with faculty members on IP-based innovations.
    Courtesy of Loyola Marymount University

    27. Loyola Marymount University (#6 West)

    Loyola Marymount University

    Fred Kiener Center for Entrepreneurship

    Los Angeles, CA

    Number of Entrepreneurship Courses Offered: 21

    Tuition: $41,000

    Companies Started by Graduates Over the Last 5 Years: 12

    What Sets Us Apart

    1. Our Mission: We have been teaching entrepreneurship with a focus on ethics and social responsibility since 1972 before it was a hip thing to do. Our students/graduates are values-centered and possess moral courage. They build businesses that have a purpose and leave a positive impact.
    2. Our Innovative Curriculum: We have 2 MS programs that are unique, one focused on Sustainable Innovation and the other on global entrepreneurial experiences. We also have top-notch modules in our MBA program. There’s also a spectacular cocurricular program that includes The Hilton Lecture Series, Dinner With a Winner, Startup Weekend, New Idea Pitch Competition, Incubator Showcase, and more.
    3. Our Location (Silicon Beach): We are located in the center of one of the most vibrant ecosystems for entrepreneurial activity (e.g., YouTube and SpaceX) that offer immense opportunities for internships, jobs, projects, and funding
    4. Our (family-like) atmosphere: Our faculty and staff members are incredibly dedicated to student success. We maintain a close family-like atmosphere between students, alumni, and faculty that is unlike any other school.
    5. Our Track Record: We have a track record of developing successful entrepreneurs. Our graduates go on to found companies like Dave.com (IPO’d at $4B), Liquid IV (sold for ~$500M), and General Finance Corp (sold for $1B). There are many other successful businesses. Others become entrepreneurial leaders in established companies and their communities.
    Courtesy of University of Connecticut

    28. University of Connecticut (#5 Northeast)

    University of Connecticut

    Peter J. Werth Institute for Entrepreneurship and Innovation

    Storrs, CT

    Number of Entrepreneurship Courses Offered: 29

    Tuition: $16,300 (in-state); $38,212 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 16

    What Sets Us Apart

    Leaders experienced in industry and entrepreneurship guide UConn offerings, which provide opportunities to work on innovative startup projects and with experienced industrial researchers and entrepreneurs. Cross-disciplinary courses promote diverse startup teams and experiential learning. Law students, through an IP clinic, work with startups on patent and commercialization issues. At the Business school, graduate offerings tackle fundamental problems faced by entrepreneurs, inspire and support a robust entrepreneurial culture; often times, working to assist the commercialization efforts of our students in engineering or sciences. Unique research programs related to entrepreneurship expose students to innovative concepts and companies. Those include MURI Programs, GANN Fellowship Program, Industrial Affiliates Program, Electrical Insulation Research Center, GOALI Projects, and the many industry-sponsored centers at our Innovation Partnership Building including a proof of concept center for SMEs.

    A new feature of our graduate entrepreneurship experience is the Daigle Labs Foundry, which assists STEM startup founders with organizational development, customer acquisition, and supply chain development. In its first year, our graduate startup founders have recorded millions of dollars in new sales, allowing them to scale faster through direct revenue growth.

    Courtesy of Florida International University

    29. Florida International University (#3 South)

    Florida International University

    StartUP FIU, Pino Global Entrepreneurship Center, Small Business Development Center at FIU, and FIU CARTA Ratcliffe Art + Design Incubator, Blackstone LaunchPad at FIU

    Miami, FL

    Number of Entrepreneurship Courses Offered: 52

    Tuition: $34,000 (in-state); $39,000 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 36

    What Sets Us Apart

    Graduate entrepreneurship offerings across multiple disciplines at FIU are characterized by hands-on experiential learning that simulates real-world scenarios, either through an industry experience or an FlU technology-based startup. Graduate students with technical expertise thrive at StartUP FIU because of its strategic focus on research translation. Students participate in rigorous boot camps as well as hands-on founder training and are better prepared to launch their own companies or win external competitions. The College of Businesses has entrepreneurship and innovation specializations in three Professional MBA programs with a heavy emphasis on readings, case studies and group projects. Additionally, the master’s in engineering management program broadens and deepens the students’ understanding of engineering and technology development and design, and includes courses on manufacturing process design, production systems, technology policies and strategies, technology entrepreneurship, and business plan development. The Chaplin School’s long-established graduate internship program assigns students a mentor from a hospitality business that they are then required to work with for one semester. The Ratcliffe Arts + Design Incubator at the College of Communication, Architecture + the Arts (CARTA), is exclusively available to graduate students, giving them access to mentorship from successful artists, performers, and designers.

    Courtesy of Seattle University

    30. Seattle University (#7 West)

    Seattle University

    Innovation & Entrepreneurship Center

    Seattle, WA

    Number of Entrepreneurship Courses Offered: 15

    Tuition: $15,300

    Companies Started by Graduates Over the Last 5 Years: 20

    What Sets Us Apart

    Our graduate offerings in entrepreneurship are experiential and real-world in nature. Participants gain experience, mentoring, access to social and financial capital in launching and growing their real-world ventures.

    Courtesy of New Jersey Institute of Technology

    31. New Jersey Institute of Technology (#6 Northeast)

    New Jersey Institute of Technology

    Newark, NJ

    Number of Entrepreneurship Courses Offered: 19

    Tuition: $18,500 (in-state); $27,340 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 36

    What Sets Us Apart

    The New Jersey Institute of Technology is a research university focused on technological innovation. This focus is shared by all the colleges at NJIT and distinguishes NJIT from other universities. The entrepreneurship program offered by NJIT’s Martin Tuchman School of Management (MTSM) also shares in this multidisciplinary focus on technological innovation and exposes students to three unique resources. First, NJIT hosts VentureLink, the largest new venture incubator in New Jersey (110,000 square feet) with 90 companies. Entrepreneurship students work in this ecosystem as part of their experiential learning and establish startups there. Second, NJIT hosts the largest and best-equipped makerspace in the state (25,000 square feet), with student-centered intellectual property rights. Third, NJIT is a site for the National Science Foundation I-Corps program, which promotes and funds entrepreneurship among university students and faculty. MTSM and the I-Corps program also prepare students for federal Small Business Innovation Research funding, which provides non-dilutive funding for entrepreneurs with technological innovations that address opportunities with societal significance. MTSM seeks to instill such visionary and impactful skills in its students through the entrepreneurship concentrations in its Masters of Science (MS), Masters in Business Administration (MBA), and PhD degree programs.

    Courtesy of University of Arkansas, Fayetteville

    32. University of Arkansas, Fayetteville (#4 South)

    University of Arkansas, Fayetteville

    Office of Entrepreneurship and Innovation

    Fayetteville, AR

    Number of Entrepreneurship Courses Offered: 15

    Tuition: $15,757 (in-state); $37,276 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 39

    What Sets Us Apart

    Our graduate program is distinguished by pairing hands-on curricula with a deep ecosystem of ancillary mentoring, funding, and support mechanisms for student-led ventures. Students have swept the awards in the scalable ventures track of the statewide business plan competition (AR Governor’s Cup) the last three years and have a record number of wins at international competitions (in 2022–23, teams took 1st place at Ivey BP Competition, 2nd–4th place Stu Clark NV Championship, and placed at many other international competitions)

    Features of our graduate program:

    • Greenhouse Outdoor Recreation Program (GORP), a UA accelerator supporting startups in the outdoor sector that offers seed money and specialized training. Student startup UNCL (Universal Network-Controlled Lock) simultaneously pursued ENTR curricula while participating in GORP 2022–2023, securing $45K+ in nondilutive funding.
    • Graduate ENTR Fellows program, which provides a fellowship and tuition to graduate students across disciplines committed to pursuing tech-based ENTR.
    • New Venture Development Mentor Network, a unique community that spans the globe, including alumni founders, business leaders, and investors who volunteer to visit Northwest Arkansas for an intensive mentor weekend supporting graduate teams.
    • Startup Village, an incubator that offers office space, consultation, community support for UA-affiliated companies.
    • Heartland Challenge, an international high-growth startup comp designed to simulate the process of raising venture capital.
    Courtesy of Temple University

    33. Temple University (#4 Mid-Atlantic)

    Temple University

    Innovation and Entrepreneurship Institute

    Philadephia, PA

    Number of Entrepreneurship Courses Offered: 22

    Tuition: Varies

    Companies Started by Graduates Over the Last 5 Years: 31

    What Sets Us Apart

    • Committed: TU’s entrepreneurial founder, Russell Conwell, envisioned a school serving self-determined youth who seek to improve their lives through education; TU is committed “to be a leader in encouraging entrepreneurship across all disciplines, so students can create their own success, regardless of economic conditions.”
    • Scope & Breadth: We serve all 17 schools/colleges including undergrads/grads/alumni/faculty/staff/partners and impact tens of thousands of students every semester.
    • Urban: Temple is integral to Philly’s urban educational environment: TU students come from the region (community college and urban high-school students are a large percentage of applicants) and TU grads tend to stay in the region. We also run Temple U’s SBDC to support Philly and PA small businesses.
    • Accelerator / Early-Stage Funding: our 1810 Accelerator—a 9,000-square-foot co-working & accelerator space—opened in 2019 with extensive accelerator programs. We also run several other funding/support programs (e.g., Be Your Own Boss Bowl, Lori Hermelin Bush Seed Fund, SmarTemple Innovation Fund, Temple Ventures w/ Ben Franklin TP, Blackstone Launchpad).
    • Philly Ecosystem Keystone: TU is a founding member of the Philadelphia Regional Entrepreneurship Education Consortium (PREEC), runs one of the region’s most significant angel venture groups/programs (MADV), and our Executive Director is ranked among the 100 most influential people in Philly’s regional business.
    Courtesy of Clemson University

    34. Clemson University (#5 South)

    Clemson University

    Greenville, SC

    Number of Entrepreneurship Courses Offered: 16

    Tuition: $20,198 (in-state); $33,190 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 61

    What Sets Us Apart

    The Clemson MBA in Entrepreneurship & Innovation is designed to bring your ideas to fruition, whether you want to start your own company, innovate at your current job, or address societal needs via the not-for-profit sector.

    Students gain the essential business knowledge provided in the corporate program with added emphasis on topics specific to the needs of start-ups, including venture finance, intellectual property, and entrepreneurial strategy.

    All MBAe classes are taught by distinguished Clemson professors, successful entrepreneurs, and business leaders who illustrate real-life examples of how to take innovative ideas to market. In addition, students have multiple opportunities to interact with local and national entrepreneurs and business leaders at networking events, including the Innovative Leadership Series and special programming developed through the Phyfer Innovation Hub.

    The MBAe program culminates with a business capstone course, and pitch competition called the EnterPrize Awards. During this intensive course, students can pitch their ideas to an audience of business owners, venture capitalists, and entrepreneurs over multiple sessions and receive feedback that allows them to refine and perfect their presentations. The ability to convey ideas quickly and effectively is valuable for entrepreneurs and executives alike. The EnterPrize Awards are designed to give students ample opportunity to practice and develop this essential skill.

    Courtesy of University of Minnesota

    35. University of Minnesota (#7 Midwest)

    University of Minnesota

    Gary S. Holmes Center for Entrepreneurship

    Minneapolis, MN

    Number of Entrepreneurship Courses Offered: 13

    Tuition: $41,240 (in-state); $54,000 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 33

    What Sets Us Apart

    We offer a broad range of experiential courses/programs led by a mix of leading academic researchers and experienced practitioners that enable students to gain practical experience and connections with the entrepreneurial community. Our courses enable students to design new products, commercialize University technology, support corporate innovation, and launch/operate real businesses (both within and outside their classes). Students are able to leverage these resources and connections to test and develop new ventures during their graduate school experience.

    As one of the only land-grant research universities located in the heart of a major metropolitan area, our graduate students from across campus are continuously connected with the business community. Despite events pivoting to online over the past year, more than 400 speakers, mentors, and judges frequent our campus each year to advise and inspire our students. MN Cup is the largest statewide new venture competition in the country, awarding $5 million in cash prizes and supporting more than 23,000 entrepreneurs since 2005. Gopher Angels investor network provides invaluable connections with leading entrepreneurs and investors. Grow North initiative connects students and alumni with emerging food/agricultural startups and MN-based Fortune 500 corporations. MBA Fellowships support students’ efforts to launch new social ventures, with more than $150K of seed funding available each year to student-founded companies.

    Courtesy of The George Washington University

    36. The George Washington University (#5 Mid-Atlantic)

    The George Washington University

    Center for Entrepreneurial Excellence

    Washington, DC

    Number of Entrepreneurship Courses Offered: 10

    Tuition: $52,785

    Companies Started by Graduates Over the Last 5 Years: 26

    What Sets Us Apart

    Women’s Leadership: GW’s Business School has the highest proportion of women MBAs in the US. The school is the home to the nationally award-winning women’s entrepreneurship curriculum. GWSB’s Women’s Entrepreneurial Leadership course is the winner of a US Association of Small Business and Entrepreneurship Excellence in Entrepreneurship Education Award together with the faculty-led ed tech and women’s research initiative: The Hot Mommas Project, which is currently the world’s largest women’s case study library. Outside of the classroom, student leadership opportunities exist through the WEL Fellowship and WEL Council in which student leaders act as leaders and ambassadors in women’s entrepreneurship and interact with mentors from the professional business community.

    Courtesy of University of Florida

    37. University of Florida (#6 South)

    University of Florida

    Entrepreneurship and Innovation Center

    Gainesville, FL

    Number of Entrepreneurship Courses Offered: 23

    Tuition: $12,737 (in-state); $30,130 (out-of-state)

    What Sets Us Apart

    The Entrepreneurship & Innovation Center was created to teach, coach, and inspire students to be entrepreneurial in their lives. The Center provides students with the tools and experiences necessary to creatively pursue new opportunities and innovations in the startup, social, and corporate venture arenas.

    Through courses, degree programs, and complementary activities such as speakers and workshops, the Center currently serves more than 2,000 students per year. Partnering with other colleges at the University, the Center delivers introductory and specialized courses at both the graduate and undergraduate level and offers every graduate student at the University of Florida the option to earn a graduate minor in entrepreneurship. In addition, the Jeff Gold Experiential Learning Laboratory—which houses the GatorNest program, the Gator Hatchery student incubator, and the IdeaGators Co-Working Space—provides students the opportunity to experience real-life entrepreneurship while still in school. Cocurricular programs that include consulting disadvantaged entrepreneurs in South Africa and our community partnerships in Gainesville, FL, as well as the $40,000 Big Idea Competition, provide additional opportunities to “learn and do,” helping students create an innovative and entrepreneurial mindset.

    Courtesy of California State University San Bernardino

    38. California State University San Bernardino (#8 West)

    California State University San Bernardino

    Inland Empire Center for Entrepreneurship (IECE)

    San Bernardino, CA

    Number of Entrepreneurship Courses Offered: 14

    Tuition: $27,000 (in-state); $39,000 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 0

    What Sets Us Apart

    The entire experience is fully intensive around entrepreneurship. All 11 courses are entrepreneurship-focused for a deep dive into learning/experiencing entrepreneurship. The focus is to acquire the entrepreneurial mindset and create innovative, growth-oriented ventures. Our pathway approach helps students acquire the entrepreneurial competencies needed to bring venture concepts to life over the course of the 16-month program. As an example:

    • Semester 1—Students explore new ventures through ideation, problem-solving, and improvisation projects to develop new venture concepts. In addition, they work on a live commercialization project to understand how to bring emerging technologies to market, in partnership with entities such as the US Navy and NASA. Students participate in our fast pitch competition, developing and getting feedback on their emerging venture concepts and competing for prize money.
    • Semester 2—students do the customer discovery process, build their business/financial model, and hone their pitch in preparation for the campus innovation challenge competition and external pitch competitions.
    • Semester 3—as the culminating experience, students finalize a new venture launch plan and present their opportunity to the Tech Coast Angels. From student feedback, the Entrepreneurial Improvisation & Creativity course, which focuses on developing skills in creativity, problem-solving, concise communication and thinking on your feet, has been a game changer.
    Courtesy of University of Louisville

    39. University of Louisville (#7 South)

    University of Louisville

    Forcht Center for Entrepreneurship

    Louisville, KY

    Number of Entrepreneurship Courses Offered: 17

    Tuition: $32,000 (in-state); $32,000 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 10

    What Sets Us Apart

    We have one of the very few PhD programs in the world that is concentrated and dedicated to Entrepreneurship. We also have a cohort-based IMBA (Innovation MBA), which is an MBA program with a curriculum committed to entrepreneurship. All students in this program create an investor-ready and viable business plan to be presented at the Cardinal Challenge competition.

    Courtesy of Concordia University

    40. Concordia University (#2 International)

    Concordia University

    District 3 Innovation Centre The National Bank Initiative in Entrepreneurship and Family Business Centre for Women Entrepreneurship and Leadership Dobson Practicum Bob and Raye Briscoe Centre in Business Ownership Studies KPMG-JMSB

    Montreal, Canada

    Number of Entrepreneurship Courses Offered: 13

    Tuition: $2,300 (in-state); $6,650 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 34

    What Sets Us Apart

    With research centers like the National Bank Initiative in Entrepreneurship and Family Business, the Centre for Women Entrepreneurship and Leadership, the Bob and Raye Briscoe Centre in Business Ownership Studies, the KPMG Entrepreneurial Indices and the hands-on support from the Dobson Practicum and the District 3 Centre for Innovation and Entrepreneurship, the John Molson School of Business is the ideal place for students with an interest in entrepreneurship. Mentorship programs, entrepreneurs-in-residence, speakers’ series, scholarships, and fellowships bring practical relevance to the academic excellence of our faculty. Experiential learning in the form of the Small Business Consulting Bureau, the Surgical Innovation course, or consulting for non-profit local ventures in the MBA Community Service Initiative are other features that are unique to the John Molson MBA program.

    Courtesy of American University

    41. American University (#6 Mid-Atlantic)

    American University

    Veloric Center for Entrepreneurship (name changing from AU Center for Innovation 10/2023)

    Washington, DC

    Number of Entrepreneurship Courses Offered: 10

    Tuition: $44,394

    Companies Started by Graduates Over the Last 5 Years: 43

    What Sets Us Apart

    careers as entrepreneurs and founders and remain active in local and regional startup programs and organizations. Our entrepreneurship offering is a highly connected, cross-campus program, which includes and activates students from diverse academic disciplines who bring a broad range of perspectives and experiences to solving the world’s most pressing problems. Our center, curriculum, and programs closely integrate classroom teaching with experiential learning opportunities. The result is a broad range of student ventures working on issues that span the economy and maximize social impact: hunger relief, accessibility, clean energy, biotechnology, SaaS software applications, mobile applications, real estate platforms, clean water filtration, educational programming, and so much more. The 35 ventures currently participating in our business incubator interact with each other and with faculty directors and mentors, with quarterly milestones required and reviewed. We offer direct support and small financial grants to each venture.

    Courtesy of Florida Atlantic University

    42. Florida Atlantic University (#8 South)

    Florida Atlantic University

    Adams Center for Entrepreneurship

    Boca Raton, FL

    Number of Entrepreneurship Courses Offered: 12

    Tuition: $5,467 (in-state); $16,695 (out-of-state)

    What Sets Us Apart

    The distinguishing aspects of our graduate offerings in entrepreneurship include four MBA programs (traditional, online, professional. and executive) and a graduate MS finance program that assists students in pursuing careers as entrepreneurs, innovators, and investors. We also offer traditional and executive PhD programs that emphasize entrepreneurship research or related scholarship in business. For graduate students interested in starting a venture, our offerings begin with support for exploration, experimentation, and ideation of business models during the earliest phases of the entrepreneurial journey in technology, biotechnology, and other fields. We provide connection to South Florida’s rich, diverse and growing entrepreneurial ecosystem through mentorship, networking and coursework. Such coursework includes matching student consulting teams with local start-ups and global companies in our new master’s program in International Business. In the classroom and outside it, our students turn viable ideas into businesses and are assisted in acquiring funding, establishing operations and growing their ventures through our local and global networks. Students seamlessly move from coursework to investigating and launching new ventures. In the process, they receive mentoring, seed funding and potential placement in FAU’s incubator/accelerator. From the accelerator, students can position their ventures for success and high growth regionally, nationally, and globally.

    Courtesy of Wright State University

    43. Wright State University (#8 Midwest)

    Wright State University

    Wright State Institute for Innovation and Entrepreneurship (IIE)

    Dayton, OH

    Number of Entrepreneurship Courses Offered: 3

    Tuition: $16,454 (in-state); $26,442 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 5

    What Sets Us Apart

    Our New Venture Creation concentration requires business plan development for new venture ideas and a focus on technology startups. Students cover advanced topics in innovation and entrepreneurship to help increase their skills and further their career goals. Student study the economics of innovation, including the technological change, economic growth, globalization, and longwave cycles that affect innovation in business and organization. Students in the program also take courses on technology-based ventures and entrepreneurship.

    Courtesy of Nova Southeastern University

    44. Nova Southeastern University (#9 South)

    Nova Southeastern University

    Alan B Levan | NSU Broward Center of Innovation

    Fort Lauderdale, FL

    Number of Entrepreneurship Courses Offered: 7

    Tuition: Varies

    Companies Started by Graduates Over the Last 5 Years: 8

    What Sets Us Apart

    Our graduate program recognizes that entrepreneurship goes beyond the world of start-ups and extends into the development and implementation of new projects and products in established corporations, nonprofit institutions, and government. We focus on developing the capabilities and skills required for displaying an entrepreneurial mindset as a business owner or as a corporate business leader. The program is tailored to professionals dealing with business decisions on a day-to-day basis and therefore concentrates on creating value for students who are launching their own business projects or ascending the corporate ladder as difference makers in their organizations. The curriculum covers a wide range of content that is relevant to starting, launching, and scaling a new business while simultaneously offering solutions to small, medium enterprises (SMEs), and big enterprises in the areas of project capital financing, innovation management, product development, and market validation. Our students substantially improve their business networks during their studies. They learn state-of-the-art business practices by integrating their work experience into their courses. In addition, they have access to our Allan B. Levan NSU Broward Center of Innovation, enjoy an opportunity to pitch for funding and learn from faculty with experience in start-ups, SMEs, and corporate entrepreneurship. These attributes make our program unique and appealing to young professionals.

    Courtesy of University of Vermont

    45. University of Vermont (#7 Northeast)

    University of Vermont

    Burlington, VT

    Number of Entrepreneurship Courses Offered: 5

    Tuition: $30,735 (in-state); $52,245 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 35

    What Sets Us Apart

    The Sustainable Innovation MBA aims to develop the next generation of leaders who will build, disrupt, innovate, and reinvent sustainable businesses and enterprises in a world that demands it. The Sustainable Innovation MBA program is a one-year, 45-credit AACSB accredited program with a 7-credit summer Practicum Project serving as the “capstone” to integrate and apply all the knowledge, capabilities, and tools garnered in the first nine months to a practical challenge in an actual venture or corporate innovation setting. Students may also use their practicum project to launch their own business. Students also have access to the Innovators in Residence Speaker Series, which serves several purposes. The first is to give students interesting examples of the kind of innovation that we are preparing them for. The second is to introduce the students to entrepreneurs/innovators that we think are role models of the type of professionals that we hope the students will evolve into. The third is to help students develop ideas and contacts for their career development and job search.

    Courtesy of State University of New York – Stony Brook University

    46. State University of New York – Stony Brook University (#8 Northeast)

    State University of New York – Stony Brook University

    Innovation Center, Center for Entrepreneurial Finance, Small Business Development Center

    Stony Brook, NY

    Number of Entrepreneurship Courses Offered: 9

    Tuition: Varies

    Companies Started by Graduates Over the Last 5 Years: 5

    What Sets Us Apart

    Our graduate offerings in entrepreneurship are unique due to the interdisciplinary nature and experiential learning approach of our courses, mentorship experiences, and competitions. MBAs and all other SBU graduate students find entrepreneurial support and opportunities in the Small Business Development Center, Center for Entrepreneurial Finance, and Innovation Center. Entrepreneurial students find support for their startup aspirations and can further develop in-depth understanding in various different areas, such as biotech and artificial intelligence, via related research centers across campus. These programs offer various opportunities for students to gain mentorship experiences across various industries. Students who wish to develop or pitch their business ideas can compete in our Hackathon and business plan and pitch competitions.

    Courtesy of Regent University

    47. Regent University (#7 Mid-Atlantic)

    Regent University

    Regent Center for Entrepreneurship

    Virginia Beach, VA

    Number of Entrepreneurship Courses Offered: 14

    Tuition: $18,765 (in-state); $18,765 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 0

    What Sets Us Apart

    Regent’s Master of Arts in Organizational Leadership Social Entrepreneurship equips you for such a role. Offered exclusively online, it explores how relevant entrepreneurial business models can prepare you to advance as a social entrepreneur, a leader in social-purpose organizations, a philanthropist, or a director of volunteers in the social sector.

    Be equipped to ideate, establish, and lead a new business venture through an ACBSP-accredited Master of Business Administration (MBA) Entrepreneurship program. This program emphasizes the value of innovation, adaptability, research, and planning to expand a business—all from a Christian worldview. It is taught by a distinguished faculty and is designed to prepare you to own and operate a business.

    Your career, your vision, your way. Regent’s Doctor of Strategic Leadership (DSL) in Entrepreneurial Leadership will prepare you to transform systems and teams. This executive doctoral program will ground you in the theory and practical components of communication, team building, and structure essential to organizational success—all from a Christian perspective.

    Explore entrepreneurship in the global marketplace and leadership dynamics through Regent’s PhD in Organizational Leadership – Entrepreneurial Leadership program. We’ll equip you to influence and invigorate organizations around the world as a scholar, teacher, or business leader. Our PhD in Entrepreneurial Leadership is a research-based terminal degree.

    Courtesy of Tulane University

    48. Tulane University (#10 South)

    Tulane University

    Albert Lepage Center for Entrepreneurship and Innovation, The Phyllis M. Taylor Center for Social Innovation and Design Thinking, Tulane University Innovation Institute

    New Orleans, LA

    Number of Entrepreneurship Courses Offered: 11

    Tuition: $53,833

    Companies Started by Graduates Over the Last 5 Years: 10

    What Sets Us Apart

    Our graduate offerings stand out by embodying the essence of entrepreneurship—solving intricate problems and fostering collaborative growth. We understand that no startup founder thrives in isolation, and that’s why we cultivate a supportive community for undergraduate students.

    The Albert Lepage Center for Entrepreneurship & Innovation acts as a hub uniting mentors, investors, and students to unravel challenges and foster business creation. The student venture incubator is a launching pad for innovation, where access to Innovators-in-Residence, legal support, peer insights, and pitch contests are at students’ fingertips.

    The Taylor Center for Social Impact & Design Thinking’s Changemaker Institute enriches our offerings further. This institute nurtures social ventures through growth, mentorship, and the development of social entrepreneurial skills. It equips students with tools to grasp the intricate nuances of the issues they tackle.

    The Tulane University Innovation Institute (TUII) propels innovation by bridging academia and industry. TUII is committed to helping student innovators further develop their ideas, launch startups, and attract the resources that will fuel innovation in the Gulf South and strengthen the area’s economy. TUII’s resources include proof of concept and pre-seed startup investment funds, as well as due diligence, development, and commercialization support from mentors and other business, scientific, and investment experts.

    Courtesy of Eastern Michigan University

    49. Eastern Michigan University (#9 Midwest)

    Eastern Michigan University

    Center for Entrepreneurship

    Ypsilanti, MI

    Number of Entrepreneurship Courses Offered: 6

    Tuition: $17,199 (in-state); $29,583 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 12

    What Sets Us Apart

    Our graduate offerings in entrepreneurship are available in several flexible formats such as online and hybrid. Our students have the chance to work with local entrepreneurs through interactions with our Center for Entrepreneurship and our local Small Business Development Center (SBDC) and students have a field study course where they work on a unique problem with small business owners. Students also have access to successful entrepreneurship mentors from the surrounding community. The new Executive Certificate in Entrepreneurship is a unique eight-week Certificate program delivered in a hybrid format. The program features a unique mix of exposure to academics, industry experts, mentors, professional coaches and startup investors and includes a venture challenge for cash awards at the end of the 8-week session.

    Courtesy of California State University, Fresno

    50. California State University, Fresno (#9 West)

    California State University, Fresno

    The Lyles Center for Innovation and Entrepreneurship

    Fresno, CA

    Number of Entrepreneurship Courses Offered: 6

    Tuition: $13,000 (in-state); $20,400 (out-of-state)

    Companies Started by Graduates Over the Last 5 Years: 0

    What Sets Us Apart

    Our graduate courses in entrepreneurship prioritize experiential learning. Our students don’t just study entrepreneurship; they live it. They engage in real-world projects, often working with startups, to learn the process by which ideas are developed, screened, and tested. In addition to projects, our curriculum is designed with real-world applicability in mind. Students learn practical skills such as business planning, marketing, and financial management, ensuring they are ready to hit the ground running. Furthermore, we foster a tight-knit entrepreneurial community. Biannual networking events with our alumni and current students, along with partnerships with local businesses, create a supportive system that extends beyond graduation. Finally, for those interested in the academic side of entrepreneurship, our program offers robust research opportunities. Students can collaborate with faculty from the Lyles Center for Innovation and Entrepreneurship on cutting-edge research projects, contributing to the field’s advancement.

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  • What Does Entrepreneurial Excellence Mean Today? The Benchmark for Success Is Evolving — Here’s How. | Entrepreneur

    What Does Entrepreneurial Excellence Mean Today? The Benchmark for Success Is Evolving — Here’s How. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    From Ford to Musk, the image of the successful entrepreneur has often been intertwined with a set of traditional ideals: unyielding confidence, unwavering determination and an unrelenting pursuit of success. Those characteristics of excellence have shaped our perception of what it means to be a successful entrepreneur for generations. They also connect with larger social and political ideas of greatness: winning through domination in some form.

    However, a generational shift in the definition of excellence is becoming all too apparent as the once-unquestionable benchmarks of success, such as wealth, fame and power, have begun to coexist with qualities that transcend the headlines — qualities like personal growth, empathy and a commitment to lasting values. Additionally, an increasing number of successful female entrepreneurs are also calling into question masculine gatekeeping of definitions of entrepreneurial excellence. Numerous social pressures, along with rapid technological change, are causing many of us to contemplate what it actually means to pursue “excellence” or “greatness” today.

    Somewhere on the other side of Elon and Zuckerberg’s proposed MMA fight is another view of what being great can be for an entrepreneur. A more encompassing view of excellence may be necessary, one which redefines not only the characteristics of greatness but also the obligations and behaviors of those we deem role models within the world of business. Excellence is no longer solely about conquering frontiers or amassing fortunes; it’s about leaving a positive mark on the world, fostering innovation with ethics, and making decisions that resonate through generations. That excellence can be achieved by adding elements of stoicism and empathy to our entrepreneurial mindsets and leadership approaches.

    Related: How to Unleash Your Entrepreneurial Spirit and Discover Your Potential

    The biography of excellence

    The historical record provides as many definitions of excellence as it does role models to learn from. Different eras have birthed distinct ideals of greatness, often mirroring the predominant societal norms and values. In the Renaissance, excellence was defined by creativity; in the Enlightenment, it was rationality. Excellence in political leadership was defined in many eras as the ability to win wars and defeat foes. Yet even some of the greatest warriors held up as role models of excellence, such as Leonidas’s Spartans at Thermopylae or Saigō Takamori’s Samurai at the Battle of Shiroyama, proved their merit through their defeat by holding fast to their values in the face of certain loss. Excellence, it seems, becomes a complex issue when one combines the morality of strong values with societal markers like wealth, fame, power or might.

    The realm of entrepreneurialism, especially the tech field, has yielded its own vision of excellence. Innovation, creativity, self-discipline and drive are elevated, and entrepreneurs strive to emulate in the hopes of capturing their magic in a bottle. While their accomplishments are undeniable, the criteria by which we measure excellence are evolving, inviting us to reassess the values that truly define greatness. And while many great entrepreneurs stand out as examples of excellence, none better exemplify the increasingly problematic double-edged sword of entrepreneurial excellence than Elon Musk or Steve Jobs.

    As Walter Isaacson’s biography of Elon Musk hits our shelves, it’s an interesting moment to reflect on the nature of excellence as entrepreneurs and beyond — though, for many of us, the question of excellence has long been on our minds. Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, epitomizes the charismatic and audacious archetype of excellence. His boldness and willingness to disrupt industries have yielded transformative results, yet his leadership style is marked by demanding expectations, public spats, and a sometimes controversial presence on social media.

    Biographer Isaacson — already skilled at getting to the core of powerhouse egos in his earlier works on Benjamin Franklin, Albert Einstein, Leonardo da Vinci, Henry Kissinger and Steve Jobs — paints Elon Musk as a complex character, at times relatable and at times almost alien in mindset. Similarly, each of Isaacson’s subjects represented ideas of excellence for their times — and beyond — yet each also struggled with a titanic-sized ego and disjointed relationships. Elon seems no different. Excellence, too often, it appears, comes at a steep social price.

    Many may liken Musk to Steve Jobs, another tech leader held up as an example of entrepreneurial and technological excellence. Jobs, the late co-founder of Apple, responsible for much of the company’s product vision and innovation, is celebrated for revolutionizing personal technology. But his inability to relate to others was as legendary as his vision. His “reality distortion field” and uncompromising pursuit of perfection yielded groundbreaking products, but his interpersonal relationships and management methods were often called into question. Jobs is an extreme personality and example, but often excellence is equated with such extreme focus and vision.

    A kinder approach to excellence

    While the achievements of Jobs and Musk are undeniable, the emphasis on such figures as entrepreneurial role models perpetuates an image of excellence defined by brashness, bombastic and all-consuming individualism. But as younger generations search for relevant role models of greatness, they seek to redefine how the trait manifests in society. Excellence in this context is not confined to the individual’s achievements but also extends to their contributions to the greater good. Leaders who recognize the strength of collaboration, who consider the impact of their decisions on diverse communities, and who work to bridge societal divides exemplify a new facet of excellence.

    Embracing kindness and empathy in leadership fosters collaboration, creativity and sustainable growth in organizations. A leader prioritizing these qualities can inspire loyalty and dedication among employees, creating a more harmonious and productive work environment. Additionally, exercising restraint and thoughtfulness in decision-making prevents hasty actions that might bring short-term gains but lead to detrimental long-term consequences.

    The challenge lies in finding a balance between audacity and empathy, innovation and collaboration. While figures like Musk and Jobs have undeniably left their marks on history, it’s worth considering whether their methods could have been refined to include a greater emphasis on building positive relationships and nurturing well-being. Even keel business leaders like Tim Cook or Dara Khosrowshahi will likely never be held up as examples of generational-changing technological or entrepreneurial excellence, even though they may be more worthy of the accolade than their more bombastic peers.

    In his 2010 Commencement Speech at Princeton, Jeff Bezos recounted some wisdom he learned from his grandfather: “Jeff, one day you’ll understand that it’s harder to be kind than clever.” Indeed, it is far easier to take the low road, forgetting compassion or patience. Can excellence be achieved without overshadowing qualities like kindness, empathy and restraint? Long before we had the concept of personal brands. Mr. Rogers built a persona around the transformative nature of kindness and empathy. With numerous tall tales of kindness on set coupled with extensive anonymous donations to children’s cancer charities, many would consider Keanu Reeves to be a role model of quiet kindness in a Hollywood marked by greed, vanity, and self-promotion. Just as the media industry has managed to elevate some paragons of kindness, so too can the entrepreneurial field embrace those who translate kindness into excellence.

    Related: These 3 Philosophies of the Ancient Stoics Will Change Your Life

    Stoicism over pomp

    Another approach to the question of greatness requires us to stop and think about, yes, the Roman Empire — just maybe not every day as some men do, according to the consensus of a hilarious new TikTok trend. The reason why I suggest that we consider the Roman Empire in pursuit of greatness is that many Roman Emporers embraced stoicism — a philosophy underlying entrepreneurial excellence. At its core, stoicism advocates for a rational and disciplined approach to life’s challenges. It emphasizes the cultivation of inner resilience and the acceptance of circumstances beyond one’s control, encouraging a mindset of gratitude rather than negativity.

    Stoics believe in focusing on what can be influenced while gracefully acknowledging and enduring what cannot. This philosophy encourages entrepreneurs to navigate the often tumultuous waters of business with a composed and clear-headed demeanor. By embracing stoic principles, entrepreneurs gain a powerful tool for maintaining equilibrium in the face of adversity, allowing them to make calculated decisions and pursue their goals with unwavering determination.

    It is easy to find examples of stoic leadership: those driven by a belief that they can rationally advance their values to improve the world. For example, Former Chancellor of Germany Angela Merkel’s legacy lies in her adept navigation of complex political terrains while upholding her principles, particularly in her fervent support for a united Europe. Her leadership exemplified the potency of diplomacy, restraint and patient persistence, highlighting that enduring change often stems from steadfast dedication rather than impulsive, headline-grabbing maneuvers.

    In the realm of tech entrepreneurship, Steve Wozniak’s journey reflects the value of staying grounded even in the face of immense success. His technical prowess and innovation were pivotal in shaping the technological landscape, yet he remained approachable and down-to-earth. Wozniak’s commitment to education and his willingness to share his knowledge exemplifies the importance of giving back to the community that helped foster his success. Like Merkel, Wozniak has prioritized collaboration over grabbing headlines, building bridges rather than burning them.

    And, on a final note, if we ever need to look to the Roman Empire to teach us a lesson about greatness, surely it is this: the political leader held up by many through history as the pinnacle of political excellence was a bold and audacious general and emperor who was such a jerk that his friends and colleagues stabbed him to death. Julius Caesar may argue that a little less ego and a bit more kindness and stoicism are a sounder approach to leadership.

    Final thoughts

    In examining these contrasting examples, we can distill lessons that guide future leaders and innovators. By appreciating the achievements of ego-driven innovators like Musk and Jobs while critically evaluating the potential consequences of their approaches, we pave the way for a new generation of leaders who aspire to achieve greatness while also cultivating qualities that enrich the human experience. Not only should we seek out role models of excellence driven by compassion and empathy, but we should seek to lead our own organizations with the same stoic and caring attitude, fostering excellence in ourselves and those we lead.

    Ultimately, excellence should not be narrowly defined by the disruption of industries alone; rather, it should encompass the enhancement of society as a whole, with kindness, empathy and restraint being integral components of that journey. Kindness and stoicism offer new approaches to modern entrepreneurial excellence.

    The narrative of excellence is being rewritten to include leaders who strive not just for personal greatness but also for the betterment of humanity. The unassuming acts of kindness, the quiet moments of empathy, and the decisions rooted in restraint are forging a new path for the concept of excellence. This evolution challenges us to evaluate the qualities that truly define greatness and to acknowledge that true excellence is as much about how we treat others as it is about what we achieve.

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    Milan Kordestani

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  • Taylor Swift and Beyonce Are the Top CEOs of 2023. Here’s Why. | Entrepreneur

    Taylor Swift and Beyonce Are the Top CEOs of 2023. Here’s Why. | Entrepreneur

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    2023 has been riddled with financial hardships, but luckily our mothers came through with a helping hand.

    And by “mothers,” we’re talking about Taylor Swift and Beyoncé.

    Gen Z has affectionately dubbed the queens of pop, who have both been on tour around the country, as such thanks to their fierce impact on pop culture; but if you ask us, these two are CEOs in their own right on account of their revenue-driving prowess.

    Swift’s U.S. Eras Tour, which ran from March to October, generated $5 billion in consumer spending, according to online research group QuestionPro. Beyoncé’s Renaissance Tour, which kicked off abroad in May and concluded in the U.S. in October, made $4.5 billion for the U.S. economy, as much as the 2008 Olympics generated for Beijing, according to The New York Times.

    Together, the pop icons have generated nearly $10 billion for the economy due to the demand for tickets to their shows — and the amount concertgoers spend to look their best to see their favorite artists.

    Apart from their massive reach and influence, they have also proven to be strategic and compassionate business leaders. Although Swift and Beyoncé might not be chief executive officers in the traditional sense, they head exceptionally well-run organizations.

    Keep scrolling to see why Taylor Swift and Beyoncé are the top CEOs of 2023.

    Photo by John Shearer/Getty Images for TAS | Beyoncé Knowles-Carter and Taylor Swift attend the “Taylor Swift: The Eras Tour” Concert Movie World Premiere at AMC The Grove 14 on October 11, 2023 in Los Angeles, California.

    They are stimulating the economy

    A good CEO knows how to make money for their company, but a great CEO understands the importance of building a brand that dominates the market — so much so it finds its way into the zeitgeist and inadvertently benefits related industries.

    Considering Taylor Swift and Beyoncé have been consistent figures in pop culture for decades, it’s no surprise other businesses have felt the economic impact of their star power. Fans of both artists spend big on more than just concert tickets.

    The average ticket price for both of their shows is nearly $500, and fans have also dished out additional cash for their travel, lodging and outfits.

    According to QuestionPro, which surveyed 592 Swifties who attended at least one of her shows, Swift’s fans spent about $93 million per show on tickets, merchandise, travel, hotel, food and clothing, with the average individual fan spending $1,300 for the experience.

    Each of the 20 cities Swift visited benefited from her economic impact. Cincinnati estimated that it would see $48 million in additional revenue, with concertgoers spending on hotels, restaurants and shops near the venue, according to the Washington Post.

    Los Angeles expected an estimated $320 million boost following six shows in the area, while Denver predicted that Swift’s visit to the state would generate $140 million associated with the show. Kansas City estimated her visit to Arrowhead Stadium generated an estimated $48 million.

    According to a report by hotel analytics group STR, tour cities generated $208 million in total hotel revenue over three months and 53 concert nights.

    Additionally, her star power impacted small businesses, including an Etsy seller who has made $15,000 by selling 1,500 friendship bracelets for Swift’s shows. Local vendors also made out well, with fans requesting Swift-themed treats. Her tour also generated high-wage jobs around the stadiums — some of which led to long-term employment, per the Washington Post.

    RELATED: 4 Personal Branding Lessons Leaders Can Learn From Taylor Swift

    “If Taylor Swift were an economy, she’d be bigger than 50 countries; if she was a corporation, her net promoter score would make her the fourth-most-admired brand, and her loyalty numbers mimic those of subjects to a royal crown” Dan Fleetwood, president of QuestionPro Research and Insights, said of the survey. “It’s all a testament to her focus on the fan experience.”

    As for Beyoncé, her tour took in about $179 million in a single month, according to Billboard.

    QuestionPro surveyed 893 members of the “Beyhive” and found that concertgoers spent $1,800 on average, $300 more than Swifties, with nearly all respondents saying it was worth it and they would spend it again.

    According to the research company, the Renaissance World Tour has a net promoter score of 71, which aligns with some of the most beloved brands in the U.S., including Costco and Southwest Airlines.

    Etsy sellers also saw a Beyoncé boost after she requested fans wear silver to shows in the final weeks of her tour. The app saw a 25% increase in searches for silver items shortly after Beyoncé’s request, according to The New York Times.

    RELATED: Want to Market Like Beyoncé? Do These 5 Things

    They look out for their employees and others

    CEOs know the secret to a strong business is happy employees, and bonuses are an obvious way to keep staff content.

    Apart from stimulating local economies on their tours, Swift and Beyoncé spread the wealth among their staff — and beyond.

    Swift notably gave each of her truck drivers a $100,000 bonus, adding up to $5 million. In total, she spent $55 million on bonuses for Eras Tour workers, including technicians, dancers and caterers.

    RELATED: Taylor Swift Is Officially a Billionaire — Here’s How She Did It and Where Her Net Worth Comes From

    Although it hasn’t been reported if Beyoncé gave her staff similar bonuses, she donated $2 million to students and small businesses through her BeyGood charity during her tour, according to TODAY. The BeyGood Foundation hosted luncheons the day before her shows and gave entrepreneurs the chance to win a $100,000 grant. The remainder of the funds went to the Renaissance Scholarship Fund.

    They’re making a global impact

    Successful CEOs know that for their brand to stand the test of time, it must make an impact internationally.

    Luckily for Beyoncé and Swift, their reach goes far beyond the U.S.

    Although Swift’s U.S. tour has concluded, she’s expected to drive even more revenue on her international leg beginning in November. She’s expected to perform 146 shows across South America, Asia, Australia and Europe between now and November 2024, according to her website.

    Apart from her shows, the Eras Tour film, which was released in theaters in October, generated $95 million to $97 million during its opening weekend, according to AMC Entertainment, the highest-grossing domestic release of a concert film ever.

    Internationally, the film is expected to generate an additional estimated $31 million to $33 million across international territories, marking a global total of $126 million to $130 million, according to The New York Times.

    RELATED: Major Media Company Hiring Taylor Swift, Beyoncé Reporters to Go Backstage at Tours, Get ‘Inside View’ of New Music

    As for Beyoncé, her international tour helped boost economies outside of the U.S., including Sweden, where she kicked off her tour in May 2023. Economists told NBC News that the spike in demand and surge in costs for hotels and restaurants during her stop in the country resulted in a lower-than-expected 0.2% decrease in Sweden’s inflation figure in June.

    “Perhaps all that isn’t just down to her as there are other events taking place, but when you think about what was the cause, she is the prime suspect,” Michael Grahn, chief economist in Sweden for Denmark’s Danske Bank, told the outlet.

    Although Beyoncé’s tour started abroad and concluded with the U.S. leg, fans will get to experience her star power once again at the Renaissance concert film, which hits theaters on December 1. According to Deadline, the film has already generated $6 million to $7 million in ticket pre-sales.

    With the billions of dollars both artists have generated in the U.S. and abroad as cultural brands, in addition to their compassion for their staff, they have proven to be celebrities with exceptional operations — or CEOs for short.

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    Sam Silverman

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  • The Importance of Building Trust When Working Remotely or From Home | Entrepreneur

    The Importance of Building Trust When Working Remotely or From Home | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Before the pandemic, one of the most pressing questions about work was whether working from home was feasible. Now, with the crisis having accelerated the adoption of newer technologies by up to seven years, the question for most businesses is not whether working from home is possible but whether working from home or going into the office is better.

    Employers have many points to consider in this decision, such as their budget, the nature of the work, and the number of employees. But the most important factor that weighs into the equation is trust.

    Related: 3 Ways to Build Trust Among Employees

    Workers are adults, so treat them as such

    Consider a parent and their child. If the parent didn’t trust their child, they might not send the child to school or let them explore the world. Instead, they would micromanage and tell the child what to do about everything.

    Good parents want to build a trusting relationship that matures to a level where, even though the parent and child eventually might not be together, the parent knows the child is doing well and has learned enough to be successful on their own.

    The employer-employee relationship is much the same. Employees are already at their own level of success. They have learned enough that they do not need the employer to micromanage everything for them. So, why would an employer want to make the employee dependent on the employer to make the work-from-home decision? The employees are capable of making that decision for themselves. The simple answer is trust. They need employers to trust them if they are going to keep growing and doing their best work.

    Underneath this point, there is a difference between micromanaging and mentoring. Micromanaging means that the person in authority forces someone to act or think a certain way and gives them no choice. But with mentoring, directives and boundaries are respectfully done. The person being mentored has clear guidance, but they are free to make their own decisions and learn from their wins and losses. A mentoring employer would clearly explain to workers the pros and cons of each setup and trust that workers will make the decision that gets good outcomes for both the workers and the employer.

    Related: 10 Tips to Unlock Better Collaboration and Creativity for Remote Workers

    Finding the truth about what’s happening

    Employers have many legitimate reasons why they might want to bring workers back to the office. People need emotional and physical contact — workers might genuinely miss each other. There might be some gap in digital communication that cannot be felt until people see each other — perhaps they are missing the water cooler effect.

    Many employers have said their plan to bring employees back into the office is due to productivity. But even looking at productivity can be misleading. An employer might be convinced that the organization is not getting as much return as it would if workers were in the office. They might think that, by bringing people back to the office, they can train, supervise, and make those people better employees.

    But it could be that some of the workers the employer is measuring may not have been that productive initially. It’s just that having the workers work from home forced the employer to do a formal measurement of productivity, which made the lack of productivity from those workers more obvious. Employers need to examine their situations holistically and be open-minded to alternative explanations for what they see to ensure their assessment of what is going on is accurate.

    Related: We Know Return to Office Mandates Backfire — So Why Are Tech Giants Like Amazon, IBM and Zoom Reinstating This Outdated Policy?

    Challenge, connect and collaborate

    Even though the senior-most person might not have enough experience to make a decision, they often do make the decision because it is expected. With work-from-home, this might mean that an executive who has never handled a work-from-home setup decides workers should return to the office only because many companies are doing it.

    But in an open-minded organization, other people are allowed to brainstorm with the senior-most person. They will examine and challenge the executive’s decision, not to denigrate but to improve the outcome. Collaborative brainstorming allows leaders at all levels to properly articulate who should consider coming into the office, when, why, and so on, rather than simply handing down the decision.

    To grasp why this is so important, think of an employee who loves their job but has moved two hours away because the employer said they were okay with a work-from-home setup. If a leader then says the employee has to come back to the office, that employee might be scared they are going to lose their job. They might say to themselves, “I don’t want to sell my house. I don’t want to uproot my family and move.”

    So employers need to understand that people are not all the same. Workers all have different attitudes, aptitudes, experiences and education. They each thrive in their own environment, and if an employer puts them out of their environment, they become like whales stranded on an island — they don’t fit. If employers and employees take the time to get to know each other online and offline, they will understand these differences better, making the work-from-home decision easier and improving buy-in.

    Because employees must get to know each other, employers must figure out the best way to encourage people to meet, bond, and collaborate during work hours. There are many tools to unite employees, and what works for one organization might not work for another. Workers might try having an online pizza party where the team members might not be physically present but are all participating in their homes on video. Workers need to have opportunities to train in a way that matches their rhythm to the rhythm of the other employees.

    Related: The Most Common Work From Home Problems — And How to Solve Them.

    All for one and one for all

    Every organization has its own resources, goals and cultural expectations. So workers and leaders must approach the work-from-home decision objectively and think about what’s best for their own business. However, employers should not force the decision authoritatively on their workforce. Instead, they should make people part of the decision-making process so that, regardless of whether workers stay home or come back to the office, it’s clear that there is reciprocal trust serving as a foundation for the choice. The more people are willing to learn about each other, the more natural this collaboration will feel, and the more positive the results will be. My 2 cents: to make this happen, a certain number of leaders need to be together, like an office, to bring strategies that benefit all stakeholders to reality.

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    Par Chadha

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  • Lululemon Founder Chip Wilson Invests $100M on Rare Disease Cure | Entrepreneur

    Lululemon Founder Chip Wilson Invests $100M on Rare Disease Cure | Entrepreneur

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    This article originally appeared on Business Insider.

    Chip Wilson, the founder of Lululemon, has been living with a rare muscular disease for the past several decades, and he’s funneling $100 million of his multibillion-dollar net worth into finding a cure.

    Wilson was given the diagnosis of facioscapulohumeral muscular dystrophy, or FSHD, in 1987 when he was 32 years old, Bloomberg reported. The disease causes the progressive loss of skeletal muscle and affects a little under 900,000 people worldwide, according to FSHD Society. Wilson has an even less common form named FSHD2 that affects just 5% of those with the disease, Bloomberg noted. In other words, he’s one of about 43,000 people with FSHD2.

    For years after the diagnosis, Bloomberg reported, Wilson maintained a pretty active lifestyle. But he told the outlet he had a “wake-up call” decades later when he was signing a deal with China’s biggest athletic-apparel maker, Anta Sports Products, to buy a stake in the Finnish sports company Amer Sports and found himself struggling to walk.

    By 2022, he had launched a venture philanthropy fund named Solve FSHD, which aims to develop a cure for the disease by 2027, according to its website. Solve is particularly focused on finding new therapies for FSHD2 and has so far deployed close to $31 million into biotech companies working on various interventions, its website says.

    Wilson seems to believe that ultrawealthy entrepreneurs can be powerful catalysts for medical innovation because they have the funds to attract talent and take a more results-driven mindset to research than charitable or government organizations. He told Bloomberg that capitalism had “created everything good in the world.”

    Bloomberg reported that in the meantime, Wilson was also resorting to experimental procedures and testing several longevity and wellness treatments. He was undergoing electroacupuncture; going for IV drips of NAD, which is an enzyme that plays a critical role in healthy cell function; taking weekly doses of the immunosuppressive drug rapamycin; and taking daily doses of testosterone, the outlet reported.

    Solve FSHD did not immediately respond to a request for comment from Insider.

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    Lakshmi Varanasi

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  • Why Amazon, Zara and H&M Are Gambling Away Their Customer Loyalty — and Paying a Very Costly Price. | Entrepreneur

    Why Amazon, Zara and H&M Are Gambling Away Their Customer Loyalty — and Paying a Very Costly Price. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Why risk obliterating customer trust for a few dollars? That’s the high-stakes gamble that’s plaguing the business landscape as companies increasingly implement return fees. In a bid to curb a burgeoning problem of product returns, businesses have inadvertently stepped into a loyalty minefield. The trend, prevalent yet contentious, warrants scrutiny through the lens of behavioral science to grasp its long-term ramifications.

    So, here’s the conundrum: businesses are hemorrhaging money on returned goods. Happy Returns, a logistics company, released a survey that found 81% of retailers have implemented some form of return fee in the past year alone. On the surface, charging return fees seems like a logical step. It’s a move aimed at deterring frivolous returns, and according to many companies, it’s working.

    Amazon, H&M, and Zara, retail giants in their own sectors, are among many that have started charging return fees and are promoting in-store returns. Amazon levies a $1 fee for shipping returns through United Parcel Service, while H&M charges $5.99 for returns sent through the U.S. Postal Service. Zara takes $3.95 off your refund for mailed returns.

    Related: Amazon Is Now Charging a Fee For Some UPS Store Returns

    On one hand, these fees are modest, but they are potent enough to disrupt the shopping experience. Consumers are savvy; they calculate the entire cost of shopping, including the hassle and expense of potential returns. Happy Returns also found that about a third of companies surveyed lost customers due to these new fees. According to their survey, more than 80% of consumers check a retailer’s return policy before making a purchase with a retailer for the first time and 55% of the consumer population surveyed have abandoned a shopping cart if the return policy wasn’t convenient.

    Blue Yonder, a supply-chain software provider, further substantiates this in a different survey, revealing that 59% of consumers are deterred from making a purchase if they’re faced with tighter return policies. So, while you might stop the bleeding in the short term by charging return fees, you’re creating a less hospitable shopping environment that drives customers away in the long term.

    The intricacies of cognitive biases in return fee decisions

    While financial metrics and logistics often dominate corporate decisions about return fees, cognitive biases play an underrated but influential role in this complex equation. Recognizing these biases not only sheds light on why businesses might opt for such fees but also offers insights into how these choices can adversely affect customer behavior.

    First, consider the cognitive bias of hyperbolic discounting. This bias explains our natural propensity to opt for immediate rewards over future benefits. When a business is dealing with the costly logistics of managing returns, the immediate relief provided by implementing a return fee can be overwhelmingly tempting. It’s a quick fix that shows immediate results, thereby satisfying shareholders and seemingly tightening up a leaky supply chain process. However, by focusing so intently on the here and now, companies often overlook the long-term consequence, which is the gradual erosion of customer loyalty.

    Next, let’s delve into the empathy gap. This cognitive bias refers to the difficulty of understanding and predicting the emotional states of ourselves and others in situations that are different from the present. When board members discuss implementing a return fee, they may find it challenging to fully comprehend the emotional toll such a fee takes on consumers. Often encapsulated in corporate bubbles, decision-makers may not grasp that for many consumers, the fee is not just an economic cost but an emotional one. It feels like a betrayal, a breaking of the tacit trust between consumer and brand.

    Finally, we must discuss the anchoring effect, where we grow used to a certain anchor and feel that it’s the normal and appropriate state. For years, many consumers have grown accustomed to a no-fee return policy, viewing it almost as a retail standard. When they’re suddenly confronted with return fees, even seemingly nominal ones, their reactions can range from surprise to betrayal. This anchoring effect — where customers have mentally pegged their shopping experience to the absence of return fees — means that the introduction of such fees creates cognitive dissonance and a negative emotional response.

    This form of customer anchoring can have significant repercussions. Not only are these customers likely to reconsider future purchases, but their overall perception of the brand may also shift negatively. They may even become vocal critics, sharing their displeasure in reviews or across social networks, thereby influencing potential customers. Brands need to recognize that they’re not just introducing a new fee; they’re deviating from a consumer expectation that has long been anchored to a no-fee experience. This pivot can create ripples that extend far beyond a single transaction, eroding hard-won customer loyalty and affecting long-term profitability.

    By taking the time to understand these cognitive biases, businesses can arm themselves with the nuanced insight necessary to make better decisions about implementing return fees. It serves as a reminder that decision-making, especially on matters that affect customer trust and long-term loyalty, should never be taken lightly or made in a cognitive vacuum.

    Related: Want to Return Clothes? At this Fast Fashion Retailer, It Will Cost You

    The case for dropping return fees

    By analogy, consider Southwest Airlines. I love flying with them. Perhaps I’m revealing my age, but I started flying when airlines didn’t charge bag checking fees for less than two checked bags. When other airlines started to charge fees, I felt a real reluctance to fly with them. I tried to take Southwest everywhere it flew, not even checking other airlines if I had a decent option with Southwest. And I’m not alone. Many travelers like myself became anchored to no bag checking fees and won’t even consider other airlines if Southwest flies to their desired destination. Sometimes they – and I – end up paying more for a Southwest ticket, but the absence of baggage fees and the added layer of trust make all the difference. Southwest stands as a vivid example of how a company can benefit by not nickel-and-diming its customers.

    So, what’s a future-forward retailer to do? In a world where brand loyalty is the golden ticket, consider zigging while others zag. Instead of aligning with the immediate benefit of return fees, invest in enhancing the overall customer experience. In doing so, you’re not just retaining a customer for one transaction; you’re retaining them for life. Understand that businesses don’t merely sell products; they sell experiences. And you’ll steal the customers pissed off at the Amazons of the world who nickel-and-dime them over return fees.

    Conclusion

    In the relentless race to maximize immediate profits, companies charging return fees risk long-term loyalty, the cornerstone of sustainable business. While the initial numbers might seem favorable, they mask an undercurrent of consumer dissatisfaction that could eventually morph into a full-fledged backlash. In a landscape punctuated by volatile consumer sentiments, the question businesses need to ask themselves is simple: Is the immediate monetary gain from charging return fees worth the irreversible damage to customer loyalty? Southwest Airlines already has its answer. What’s yours?

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    Gleb Tsipursky

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  • Ask Co-Founder of Netflix Marc Randolph Anything: How to Watch | Entrepreneur

    Ask Co-Founder of Netflix Marc Randolph Anything: How to Watch | Entrepreneur

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    Marc Randolph, the co-founder of Netflix, joins us for another episode of Ask Marc, a live Q&A series about starting and growing your business. The event will begin on Tuesday, October 31st at 3:00 PM ET, streaming on our YouTube, LinkedIn and Twitter channels.

    Where can I watch Ask Marc?

    Watch and stream: YouTube, LinkedIn & Twitter

    You can watch on your phone, tablet or computer. Ask Marc will be shown in its entirety on YouTube, LinkedIn and Twitter

    What time does Ask Marc start?

    Date: October 31st
    Time: 3:00 PM ET

    The episode kicks off at 3:00pm ET.

    Why should I watch Ask Marc?

    Get free business advice directly from the co-founder of Netflix, Marc Randolph. Marc loves helping founders and small business owners, and this your free opportunity to ask him any of your questions about topics like:

    • Starting a business
    • Growing a business
    • Raising money
    • Building marketing campaigns
    • Best practices
    • Anything you want to know!

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    Entrepreneur Staff

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  • 8 Efficiency Hacks to Boost Productivity and Save Time | Entrepreneur

    8 Efficiency Hacks to Boost Productivity and Save Time | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As an entrepreneur juggling multiple businesses, I’ve come to understand the value of time and the necessity to work efficiently. Over the years, I’ve honed some handy techniques that have helped me greatly streamline my workflow, minimize distractions and maximize my productivity.

    Here are my eight favorite hacks for working efficiently, which I’m confident can help empower any entrepreneur to take charge of their time and achieve more with less. I use these methods every single day while running my cat brand tuft + paw, and they’ve worked exceptionally well for us.

    Related: 5 Simple Keys to Greater Productivity

    1. Batch emails to reclaim focus

    Email can easily become a constant source of interruption, stealing precious time from focused work. To combat this, adopt the habit of batching emails. Utilize tools like “batched inbox” to set specific times for email delivery, limiting it to twice a day. I like to dedicate focused time in the morning and the end of the day for email management, which frees up the rest of the day so I can concentrate on essential tasks and projects.

    2. Create email filters for “unsubscribe”

    Maintaining an organized inbox is so important for clear thinking. Set up email filters that direct any email containing the word “unsubscribe” into a separate “newsletter” folder. This declutters your primary inbox and your mind space, allowing you to prioritize and address critical emails more efficiently. When you have time, you can go through your newsletters and pick and choose what you want to read.

    3. Batch similar tasks together

    Context-switching between different types of tasks can be mentally taxing and inefficient. Embrace task batching by grouping like-tasks together in your to-do list or project management tool. For instance, on Asana, I schedule all email marketing tasks for Wednesdays and all my media buying tasks for Mondays. This approach can save you significant mental bandwidth and help you maintain focus on specific activities throughout the day.

    4. Silence Slack and phone notifications

    Phone distractions can be the biggest productivity killers, so for the love of God, turn off Slack and phone notifications while you’re working — there’s nothing like the “knock knock” sound of a Slack message for breaking your concentration and momentum. By silencing these notifications, you create an environment conducive to deep work. If you can maintain a deep work state for, say, 40% longer every day, you can see huge benefits for your business over time.

    Related: 10 Hacks to Save Time and Boost Productivity

    5. Prioritize communication and avoid being a blocker

    Quick, effective communication is vital for smoothly running a business. Structure your day so you’re not a blocker to anyone else doing their job. In my instance, I make it a top priority to address emails, chats and messages from my team at the beginning of the workday. By promptly responding to your team’s needs, you remove potential blockers that could hinder their progress. Once you’ve dealt with immediate communications, you can immerse yourself in deep, uninterrupted work.

    6. Limit meetings and opt for efficient alternatives

    Meeting fatigue is a real thing, so try to schedule as few meetings as possible. Meetings often consume significant amounts of time and, just as often, yield minimal results. Furthermore, most people hate meetings but still suggest them because they feel obligated. If someone suggests a meeting to me that seems unnecessary, I usually respond, “I’ve been trying to reduce meetings — any chance we could do this via email instead?” People are usually more than happy to oblige because they didn’t want a meeting either. It’s a win-win.

    7. Embrace asynchronous communication

    Today’s work world is so interconnected, but more often than not, these connections end up being distractions. To take tip #6 a step further, I recommended implementing an asynchronous communication platform wherever appropriate. Tools like Loom, where you can play back video messages at 2x speed, or threaded discussions in project management platforms are so much more efficient than live Zoom calls or continuous Slack chats. This allows recipients to process and respond to information at their convenience, promoting a more flexible and productive workflow.

    Related: 36 Insanely Useful Productivity Hacks

    8. Reserve Slack for urgent matters only

    Slack can be a fantastic tool for real-time communication, but it can also lead to constant interruptions. Only use Slack for urgent matters, and encourage your team to do the same. By setting this norm within your company culture, you create an environment where everyone can focus on their tasks without feeling overwhelmed by constant notifications. If every little message is urgent, then nothing is urgent.

    As entrepreneurs, time is one of our most valuable assets, and we need to treat it as such.

    By implementing time-saving practices, you can reclaim focus, minimize distractions and achieve higher levels of productivity. Remember, efficiency is not just about doing more work in less time, but rather about achieving better results with the time you have. By incorporating these strategies into your daily routine, you can unlock your true potential as an entrepreneur and, by extension, unlock the potential of your team.

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    Jackson Cunningham

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  • Bombas Is the Most Successful ‘Shark Tank’ Brand. Here’s Why. | Entrepreneur

    Bombas Is the Most Successful ‘Shark Tank’ Brand. Here’s Why. | Entrepreneur

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    It was 2014 when Bombas‘ co-founders Randy Goldberg and David Heath found themselves on the set of Shark Tank‘s sixth season. Three, two, one went the countdown. They walked through the doors and in front of the judges, sweating under the lights for an “awkward” minute while production captured room tone, and waited for the cue to start pitching their sock business. A psychologist was on standby backstage, just in case — because “adrenaline takes over.” It’s fight or flight.

    “They warned us about it,” Goldberg and Heath recall. “For the first 15 minutes after you walk out, you’re actually not going to remember what happened. It’s almost hallucinatory like you’re in shock. The psychologist is on hand to brief you to make sure you’re not traumatized. Can you imagine people going on and saying the wrong thing and feeling like they just embarrassed themselves on national television?”

    Fortunately, the co-founders said the right things. After an hour and a half in the tank fielding all of the questions they’d worked tirelessly to prepare for, they landed a deal with Daymond John: $200,000 for a 17.5% equity stake. And once the very real shock wore off, Goldberg and Heath were elated. John, a fellow New Yorker who’d bootstrapped his own large apparel business, had been their first-choice shark from the start.

    “We knew that even though the mechanics of our business would be different, the nature and the heart of what it takes to build something from an idea from your home and turn it into something that is recognized all over the country [would be the same],” Goldberg says. “[We needed] somebody like that in our corner, validating and challenging us. That’s why we wanted Daymond as a shark. And it’s been a fruitful and amazing relationship.”

    Related: 5 Important Lessons Shark Tank Teaches Us About Negotiation

    John became an invaluable “friend and mentor” to the co-founders as they built Bombas from scratch, and the company’s since become the Shark Tank franchise’s most successful of all time — with $1 billion in lifetime revenue. But more important to Goldberg and Heath than that staggering figure is another 100 million. To date, the company has donated more than 100 million essential apparel items to people experiencing homelessness.

    And it’s the very reason Bombas exists in the first place.

    Entrepreneur sat down with Goldberg and Heath to learn more about their founding journey and unwavering commitment to the mission that’s fueled their business from the start.

    “Maybe there’s a way to solve this problem in the homeless community by starting a brand that donates a pair of socks for every pair of socks sold.”

    Although Goldberg and Heath became fast friends in 2007 when they met at a media company they both worked at and “always kind of toyed with the idea of starting a business together,” Bombas didn’t grow out of an initial business inclination at all. It began in February 2011 when Heath stumbled upon a Facebook post that revealed socks as the No. 1 requested clothing item in homeless shelters.

    Heath was surprised socks were the most in-demand, even beating out jackets and shoes, and so was Goldberg when Heath shared the discovery with him the next day. “At the time, we weren’t like, ‘Oh my god, let’s start a business,’” Heath says. “We were like, ‘Okay, there’s this interesting problem in the homeless community.’ And we started carrying socks in our bags to and from work, and we’d give them out to people. The more we started to interact with that community, [the more we started to] realize firsthand how valuable this piece of clothing is to someone living on the streets.”

    The wheels continued to turn. Soon, their awareness of how other brands were making giveback initiatives central to their operations — Toms Shoes and Warby Parker both used buy-one-give-one models — got them thinking about how they might leverage their interest in entrepreneurship for good: Maybe there’s a way to solve this problem in the homeless community by starting a brand that donates a pair of socks for every pair of socks sold.

    Image credit: Courtesy of Bombas

    Bombas was born out of a mission, one it continues to uphold in deed and name: “Bombas” comes from the Latin word for “bumblebee,” and “Bees live in a hive and work together to make their world a better place,” the company explains on its website. “They’re small but have a big effect on things.” What’s more, the company’s “Bee Better” mantra, stitched into its apparel, is a reminder to be better for yourself and your community.

    Related: 6 Ways to Align Your Mission With Your Content-Marketing Strategy

    The co-founders started with an Indiegogo campaign in August 2013. In the campaign’s FAQ, they said that if they could hit the milestone of a million pairs donated, Heath would get a tattoo (he had no tattoos at the time). Goldberg and Heath were fairly certain no one would even remember the campaign a decade later. But the ink on Heath’s arm — the Bombas bee logo and mantra — is permanent proof otherwise. Within the campaign’s first 30 days, they did $150,000 in sales; that ballooned to $500,000 by month six. Because they kept selling out and needed to fund inventory, they turned to friends and family, ultimately raising another $1 million from angel investors. That’s when they were approached by Shark Tank.

    “There’s a forcing mechanism to the process of going on Shark Tank: It’s almost like a business school boot camp for your company.”

    At first, Goldberg and Heath thought the whole thing was a joke. The email inviting them to audition for Shark Tank came from a Gmail address. “It felt like a bit of a prank, and then quickly felt real,” Heath recalls. The co-founders continued fundraising as they underwent the “drawn out and intensive” audition process, which involved stacks of legal contracts and calls with the show’s producers. But then they were in — and in the thick of preparation.

    “There is a very real fear factor going on national TV and embarrassing yourself,” Goldberg says, “and that incentivizes you to make sure that you can answer any question that somebody might ask you about your business, even the questions you avoid talking about as a team — the hardest things, the most uncomfortable things. There’s a forcing mechanism to the process of going on Shark Tank: It’s almost like a business school boot camp for your company.”

    Goldberg and Heath knew only two things would be in their full control when they went on the show: their pitch and whether or not they chose to accept any deal that might be offered. So they made sure that pitch was rock-solid, and, fortunately, the decision to work with John was easy. He was “one of the few sharks that understood the mission.” Others warned it would “destroy” the company’s margins and questioned their impulse to give away so much product.

    Even though Bombas’ commitment to giving back might “feel obvious” by today’s standards, with no shortage of reports about the power of social impact and how much customers care about where their dollars go, just 10 years ago, it wasn’t nearly as commonplace, Heath points out. John saw Bombas’ mission as its driving factor before such initiatives became the “table stakes” they are now, according to the co-founders.

    Related: How to Make Giving Back Part of Your Brand’s DNA | Entrepreneur

    “You need to remember that Bombas was doing this before every brand was doing it,” John tells Entrepreneur. “Sure, there was famously Toms Shoes that led this type of giveback initiative, but Bombas made it part of the company’s core mission. It wasn’t an afterthought. And from going on a handful of charitable giveaways at homeless shelters with Dave and Randy, it’s still very much core to the business.”

    Image credit: Courtesy of Bombas

    Bombas’ mission-oriented approach wasn’t the only thing that initially set the company apart. It was also one of the first direct-to-consumer (DTC) brands and an early adopter of the “relatively new frontier” of ecommerce and digital marketing — both major factors in their success story, Goldberg and Heath say.

    “Nothing revolutionary around socks had been done in a long time,” John says. “And the fact that it was direct-to-consumer allowed the brand to tell its story and show off the product’s features in a way that could never be done when the socks were just hanging on a rack at a sports store or another brick-and-mortar retailer.”

    Related: Why You Need to Prioritize Direct-To-Consumer Strategies

    In those first few years, Bombas saw such impressive growth (tripling year over year) that it wasn’t long before the company considered launching other products. But John urged them to be cautious, the co-founders recall: “You’ve captured lightning in a bottle within the socks category. There’s no real competition. Just keep doubling down on the thing that you’re doing really, really well.”

    “If you’re building a for-profit business that’s mission-oriented, [the product] has to be best-in-class.”

    So Goldberg and Heath did double down on socks for the next eight or so years. And once they decided it was time to expand, they kept in mind the guiding principle that had helped them come so far: Focus.

    “The company’s extreme focus has been a key driver for growth,” John says. “Their focus on making sure their initial product was the best pair of socks; their focus on not expanding into too many product categories too quickly; their focus on making sure to create a digital marketing flywheel. They had a huge night when they initially aired on Shark Tank, and they didn’t let that get to their heads. They knew they needed to focus on building the business in a sustainable way to truly take advantage of this Shark Tank tidal wave.”

    Focusing meant falling back on the fail-safe, mission-first strategy Bombas had used to master socks: Create the best possible version of a product so that customers will love it and buy it, which leads to more donated items. “That great product translating to more donated socks became cemented like two pillars that really propped the company up,” Heath says.

    Related: Why Focus Is the Number-One Element of Business Success

    “If you’re building a for-profit business that’s mission-oriented, [the product] has to be best-in-class,” Goldberg says. “Both things have to be great. The mission won’t work as a business without the product side being great. And the product side will be much less resilient without the mission. And by creating the necessity and the relationship there, you make something defensible for the long term.”

    Underwear and shirts were the No. 2 and No. 3 most requested products at homeless shelters, respectively, which made them clear choices for Bombas’ first expansion. (The company also makes slippers, which the co-founders consider “sock adjacent.”) Paying attention to what customers want and what the homeless community needs helped Bombas determine its product roadmap and remain consistent with its “thoughtful approach to design” — considering the “small details” like a toe seam, how a fly is constructed, the material for a bralette, the way a shirt is cut and finished — ensures all products continue to meet the brand’s high standards.

    Image credit: Courtesy of Bombas

    “From day one, obviously, our mission and business were always mutually aligned and tethered,” Heath says. “So it’s why, over the years, we continue to focus on building this great business with great products. It ultimately led us to donate over 100 million items to those in need, which we surpassed just earlier this year.”

    “The mission really shows up in everything that we do, from customer experience interactions, to the website, to the creative, to the product.”

    To celebrate the 100 million milestone, Bombas launched a campaign to thank customers and educate people about the reality of homelessness — like the fact that anybody earning minimum wage in the U.S. can’t afford a one-bedroom apartment anywhere in the country.

    “We wanted to use our microphone and our voice to help remind people that when we talk about this issue, we’re actually talking about people,” Goldberg says. “We wanted to interview those people firsthand, present some surprising facts, [to show that] the first image you think of when you think of homelessness is not the full picture. And by getting the full picture and having a little bit more understanding, maybe we’ll create a little bit more compassion. And by creating a little bit more compassion, maybe that’ll change the way that you speak the next time you hear something, someone talking about this at a dinner party or in your friend group. And if we can put our advertising dollars behind shifting compassion, shifting knowledge a little bit, that creates a ripple effect and a movement in the world towards something positive and more human.”

    Related: 7 Inspiring Traits of Compassionate Leadership | Entrepreneur

    For other founders who hope to launch successful mission-oriented businesses of their own, Goldberg and Heath have some advice. First, “get close [to the mission] personally.” The co-founders still regularly volunteer their time with giving partners in New York, travel to other cities to meet up with them, and have regular calls to address issues and current needs in the community.

    You must also ensure the mission is “fully integrated into the business.” Not only does Bombas have a dedicated giving team that serves as a liaison for more than 3,500 donation partners across 50 states, but it also has an operations team that’s responsible for getting products from factory to warehouse to customer and for getting products from factory to warehouse to donation partners.

    “Every team at Bombas is responsible for the mission in either a direct or an indirect way,” Heath says. “And I think having that so intertwined makes our employees feel good about our mission. But it also makes it so that the mission shows up in everything that we do, from customer experience interactions, to the website, to the creative, to the product. It’s so much a part of our DNA that you could never separate the mission. It’s not an afterthought.”

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    Amanda Breen

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  • A Business Owners Guide to Taming Trolls on Social Media | Entrepreneur

    A Business Owners Guide to Taming Trolls on Social Media | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Working in an online space or being a public figure means you will be dealing with trolls. Even the most beloved public figures have people who inexplicably harass them. A Pew survey from a few years ago shows that 41% of Americans have experienced online harassment. I’d be willing to bet that when you talk about public figures, that number goes up to around 100%, as trolling has become so common in online culture.

    As somebody who talks openly about turning $583 into over $10 million to over one million subscribers on YouTube, and as the owner of Warrior Trading, I’m enough of a public figure that I’ve dealt with my fair share of trolls. I’d like to share with you what I’ve found is the best way to disarm the trolls. But first, I think it’s essential to establish some baseline assumptions.

    Related: 3 Options for Dealing With Internet Trolls

    Who are the trolls?

    My definition of a troll is someone who posts/comments/ or otherwise publicly communicates hateful, derogatory or defamatory messages on social media pages in a persistent and harassing way.

    To understand how to respond to trolling, we must understand the mindset of a troll. Trolling is so pervasive there have been numerous studies on the topic. Studies show that individuals who regularly engage in this type of behavior online are maladjusted and often suffer from various personality disorders in their real lives.

    Looking at the behavior of trolling through this lens, that it is a symptom of a deeper psychological struggle that somebody is experiencing, has helped me take the comments a bit less personally.

    Naturally, some comments will be easier to brush off than others, but trolling can be deeply triggering and painful for anybody who grew up with self-esteem issues. So much so that we routinely hear about influences saying they must take mental health breaks from social media. I recognize that I don’t have it nearly as bad as others, but as a small business owner, I also can’t afford to take breaks.

    Here’s how I’ve handled trolling:

    Don’t feed the trolls

    We must remember that the goal of a troll is to elicit a reaction and a response. The moment you start engaging, they’ve won. I would say 99.9% of trolling doesn’t warrant a response. The best practice with most trolling is to mute, block and delete.

    For business owners, it’s essential to know that up-and-coming businesses in your space may try to leverage your name to amplify their own voice. It’s called “trend jacking”. For example, Mr. Beast is the #1 content creator on YouTube. I often see new content creators struggling to gain an audience using “Mr. Beast’s” name or his picture to try to piggyback off his audience. If you make a salacious post about Mr. Beast, it will probably get a lot of views, right? In fact, one of the easiest ways for anyone to spur engagement on social media is to trigger emotion with divisive, exaggerated, salacious and triggering content. Tabloids still sell copies in the grocery store, right? Even though most people know it’s not credible, it’s a form of entertainment.

    Related: Why the Most Successful People Have the Most Haters

    Hire a professional “Troll Patrol” to deal with the most offensive comments

    It’s important to engage on social media with your most loyal subscribers. It’s not only good for the algorithm; it’s what creates that brand loyalty. It’s also worth noting that these subscribers will come to your rescue and be some of your fiercest defenders when you become the victim of trolling. As my business has grown, I have hired people to clear trolls/spam comments before I sit down to answer comments.

    That way, I can spend my time responding to the good comments and engaging with my fans without losing any mental bandwidth to negativity. It took me a long time to figure out that I needed to do this, but it is necessary. If you are the face of your business or it’s something you’ve put your blood, sweat, and tears into, it’s hard to have a level head when it comes to responding to trolls.

    Have an easy and nonpublic way for customers to give you feedback

    There are certainly people who exhibit trolling behavior who are not malicious but merely frustrated. For businesses, you need to have a way for your customers to obtain (good) customer service and also give feedback. When customers feel ignored, they often take their grievances to social media to make themselves heard. I’ve invested heavily in customer service for my business, and I think it is enormously important. My team is also trained to take public grievances offline ASAP and find a solution for the customer via email if possible. The saying “the customer is always right” is good to remember.

    Have a good lawyer on standby when things cross the line

    There is a fine line between trash-talking, trolling, harassment and defamation. As your business grows, or as your personal influence grows, you will likely face a troll that crosses the line. Now, the question is whether you respond publicly or privately. A public response gives the troll exactly what they want. A private direct response is how I respond. And I do it via legal counsel.

    When faced with a cease and desist letter written by your attorney, most trolls will realize the anonymity of the internet has not protected them from potential liability. This usually will stop the behavior. In the rare case it doesn’t, the legal system offers court-ordered restraining orders and permanent injunctions. Sadly, I’ve had to use these remedies at Warrior Trading. Most other large businesses do, too.

    I believe when somebody crosses the line, it’s better to be known for being aggressive than to be known as a pushover. But when considering this step, it’s essential to consider the time, effort and cost it will take and if it is worth it to your business. Luckily, my wife, Lauren Cameron, is meticulous about getting our lawyers what they need to do the job, and I do not have to waste my time on the craziness.

    The choice is yours

    Public figures, including entrepreneurs and business owners, will have detractors that create persistent, derogatory, misleading, false, nasty and malicious content on social media. To a certain extent, consider it a badge of honor that you have become significant enough to attract trolls. However, how an individual or business deals with these trolls, either engaging with them or ignoring them, will impact public perception of your brand and your personal image. This choice is yours to make and must be carefully calculated.

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    Ross Cameron

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  • 5 Strategies for Building Your Business Quickly | Entrepreneur

    5 Strategies for Building Your Business Quickly | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If there’s one thing I’ve learned working in tech and PR, it’s the grave importance of speed. Competitors are always on the lookout, and modern advancements are dropping left and right at a lightning-fast pace. Resting on your laurels is no longer an option — you need to think, act and move fast.

    Moreover, the modern customer has grown accustomed to instant gratification. In a nutshell, speed is their norm: They want their problems solved, their needs met and their desires fulfilled with a tap of their smartphone screens. In a world where ecommerce delivers products on the same day; where food can be ordered and brought to your doorstep in minutes, and where streaming services provide instant access to a vast library of entertainment, patience has become an alien concept.

    This shift in consumer expectations has made speed an invaluable currency for businesses. Those who can deliver their products or services faster, more efficiently and with a superior user experience have a distinct advantage. They not only attract more customers but also retain them.

    Here are some strategies and tips for building your business quickly:

    Related: 10 Tips That Will Help Launch Your Startup Faster

    1. Start your business now

    The first tip is simply to start your business right now. Why? Competitors are always on the move. If you want to dominate your category or lead an existing market with a new innovative offering, it’s important to stray from the waiting game

    “Time is money” is a cliche for a reason, and that’s because it couldn’t be truer. Keep in mind that if you’re not moving fast enough, your direct competitors will overtake you, capture the same market share and attract the same customers you’re targeting. The “first move advantage” is always substantial to establish authority and become the preferred choice of clients.

    Here’s a pro tip: Leveraging technology to speed up your business launch is always an advantage. Investing in business builders like Tailor Brands will exponentially increase your chances of success. This is a must-have, all-in-one solution that will simplify all the complexities of starting and running your business in one single platform.

    2. Crowdfunding and accelerators

    Raising capital is always a challenge. If you ask any entrepreneur about the biggest blocker of turning their entrepreneurial ideas into reality, it’s funding. But if you have the confidence that your product can disrupt an industry and solve a pressing problem, seeking investment through crowdfunding platforms or applying to startup accelerators might just be your next best move.

    Here’s a pro tip: When exploring crowdfunding, platforms like Kickstarter and Indiegogo can help you raise capital directly from a community of backers who believe in your vision. Make sure your campaign is well-prepared with a compelling story and clear value proposition to attract potential investors.

    For startup accelerators, research and select programs that align with your industry and goals. From financial support and mentorship to resources that catalyze growth, joining an accelerator can be a transformative experience for any up-and-coming entrepreneur.

    3. Networking and partnerships

    No man is an island when it comes to business building. You will need all the help you can get — from business advice, strategic partnerships, joint ventures and mentorship programs, to PR collaborations. You need to treat the business ecosystem as an interconnected web where you can get invaluable insights and guidance from seasoned entrepreneurs, business opportunities from more established players and fresh perspectives on your business ideas.

    Here’s a pro tip: Look beyond traditional boundaries. Attend industry events, seminars and conferences, both in person and virtually, to connect with like-minded professionals. Online platforms such as LinkedIn can also be powerful tools for expanding your professional network. Seek out mentors who have experience in rapidly growing businesses, or find opportunities for co-creating solutions with complementary businesses.

    Related: 5 Steps on How to Start a Business and Get It to Market, Quick and Lean

    4. Outsource and delegate

    Once you’ve built your business, it’s now time to build your team. Outsourcing roles and delegating tasks can significantly accelerate your business’s growth. Identify non-core functions that can be handled by specialists or third-party services. This frees up your time and resources to focus on what truly matters for your business’s success.

    While outsourcing and delegating tasks can be game-changers, it’s essential to find the right people with exemplary backgrounds. Consider using online platforms that connect businesses with skilled professionals from around the world.

    Here’s a pro tip: Websites like Upwork or Freelancer can be goldmines for talent acquisition. These platforms are your windows to a global pool of talents with a wide range of skills, expertise and experiences. From web development to content creation, these outsourcing websites offer a cost-effective and fast way to build your team and meet business objectives.

    5. Establish a bulletproof tech stack

    Once your business is running, it’s time to maintain the momentum and ensure that you can continue to operate efficiently and effectively. A bulletproof tech stack can make all the difference between success and failure.

    Treat your tech stack as the backbone of your operations. It can help you scale, optimize and streamline business processes that are often tedious. For example, a trusted customer relationship management (CRM) system tracks your interactions with customers and streamlines your sales processes, while accounting software ensures your financial operations are precise and efficient.

    Here’s a pro tip: When building your tech stack, consider the specific needs of your business while meeting the nature of your operations. Don’t look for overly complicated solutions — the simpler, the better. Asana is one must-have tool to efficiently track, manage and connect your projects across your organization. It’s straightforward, easy and user-friendly — ideal for any type of business of any size.

    Building your own business is not easy, but the rewards are unparalleled — like climbing a steep mountain where the steps are rough but the top view is spectacular. And while the ascent is a challenge, what’s important is to pick up your feet, establish your speed and embrace the elements that come with it. In today’s business world, change is fast and competition is fierce. Your upper hand will always be your ability to make big swings at a groundbreaking speed.

    Related: 4 Ways to Fast-Track Your Start-Up Success

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    Omri Hurwitz

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  • How to Navigate the Small Decisions That Can Make or Break Your Business | Entrepreneur

    How to Navigate the Small Decisions That Can Make or Break Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Hold on to your hats, you business visionaries! Today, we’re diving headlong into a subject that’s as intriguing as it is underappreciated — the butterfly effect in business. This isn’t merely about decision-making; it’s about understanding that the subtlest shifts in your strategy could set off a cascade of events, potentially transforming your enterprise from an upstart to a unicorn — or vice versa. Intrigued? You should be.

    Years ago, as an aspiring entrepreneur, I was awash with innovative ideas and a clear-cut business plan … or so I thought. What was not in my plan? Accounting for the power of tiny, seemingly inconsequential decisions that eventually turned my business on its head. Sounds like a Shakespearean tragedy? Well, it’s more of an eye-opener.

    The butterfly effect originates from chaos theory, a discipline that deals with systems sensitive to initial conditions. The concept is quite simple: A butterfly flaps its wings in Brazil and sets off a tornado in Texas. It suggests that a tiny change can lead to substantial future consequences. In a business landscape, you, my friend, are that butterfly, and your flaps could either spin a web of success or entrap you in failure.

    Related: All Decisions Have Consequences – Know What They Are To Make the Best Choices

    Case study 1: Blockbuster’s missed opportunity

    Let’s take a stroll down memory lane. Blockbuster, the undisputed behemoth of video rentals, had the opportunity to buy a fledgling company called Netflix for a paltry $50 million. The then-CEO of Blockbuster laughed it off. The result? Netflix has disrupted how we consume content, achieving a market capitalization in the hundreds of billions. At the same time, Blockbuster has been relegated to business school case studies on what not to do. Small choices, massive ramifications. That’s the butterfly effect at play.

    Case study 2: Kodaks’s digital downfall

    Another iconic example is Kodak. This once-mighty photography giant invented the digital camera way back in 1975. Afraid this new invention would cannibalize their film-based business, they chose not to prioritize it. Kodak’s hesitance allowed competitors to swoop in and dominate the digital landscape, driving the company into bankruptcy. A seemingly cautious decision led to a disruptive catastrophe.

    Decisions, decisions: Rethink your strategy

    Now that you’ve felt the heat, let’s talk solutions. Every decision, every email, every hiring or firing, every strategy alteration holds immense potential energy — like a coiled spring. So, how can you navigate this labyrinth of endless choices without stumbling?

    1. Data-driven yet intuitive:

    In an age where data analytics offer incredible insights, it’s easy to get stuck in a loop of analysis paralysis. While analytics are indispensable, they’re not a substitute for human intuition. Marry your gut feeling with raw numbers for a well-rounded decision-making process.

    2. Assemble a stellar advisory team:

    An echo chamber of yes-men is a ticking time bomb. Your advisory team should be a blend of seasoned professionals and fresh minds who can offer a myriad of perspectives. The beauty of collective wisdom is that it provides a safety net for your decisions. Don’t be afraid to seek advice, but remember: The final call is yours, so make it count.

    3. Embrace risks as opportunities:

    It’s a common misnomer that entrepreneurs are daredevils. In truth, the most successful business leaders are meticulous risk-assessors. Instead of shying away from risks, they embrace them as an integral part of the entrepreneurial landscape. Consider the pros and cons, consult your team, and then take that calculated leap. Who knows? It might just be the flap that leads to your tornado of success.

    Related: How to Master Decision-Making in a World Full of Options

    Mastering the butterfly effect: Take control

    You can either lament the inherent uncertainties in business or embrace them as opportunities for unique differentiation. Let’s explore how to turn the butterfly effect to your advantage.

    1. Future-proof like a fortune teller:

    No one can predict the future, but you can prepare for it. Instead of focusing solely on this quarter or year, align your strategies with a long-term vision. Whether it’s investing in sustainable technologies or focusing on revolutionary product innovations, make choices that future-proof your business.

    2. Be your toughest competitor:

    The enemy of sustained success is complacency. To keep the butterfly effect working in your favor, constantly strive to outdo yourself. The market is ever-changing, and yesterday’s laurels are today’s compost. Keep setting new benchmarks, and strive to surpass them.

    3. Take the road less traveled:

    Conventional wisdom has its merits, but unconventional wisdom can change the world. When faced with critical decisions, dare to challenge the status quo. Your audacity to step off the beaten path can stir ripples that set you miles apart from the competition.

    The curious case of social media: Virality or obscurity

    Let’s talk about the modern problem that every entrepreneur faces today — social media. A single tweet, a LinkedIn post or Instagram story can skyrocket your brand to viral fame or sink it into obscurity. Remember the notorious Pepsi commercial that faced severe backlash? On the flip side, think about the Airbnb “Belong Anywhere” campaign, which was a massive hit. Both brands took a gamble with their social media choices; one led to a public relations nightmare, and the other set the benchmark for clever marketing. The butterfly effect isn’t just old-school; it’s as contemporary as your latest tweet.

    Leverage thought leadership

    In today’s highly competitive landscape, your brand is often as important as your company’s. And guess what? Every blog you write, every podcast you feature in and every panel you speak on matters. Become a thought leader in your industry. Share unique insights only you can offer with your experience and expertise. This isn’t just about ego; it’s about strategically positioning yourself as an authority. That, in turn, lends credibility to your business. One well-placed article or a groundbreaking keynote could be the wing-flap that propels your business into the stratosphere.

    Related: A 3-Step Process to Making Better Decisions

    Entrepreneurs heed this: The butterfly effect is not just some obscure theory conjured up in scientific laboratories. It’s a palpable force shaping your business with each decision you make. Your ability to foresee, assess and wisely act on these decision-making moments will determine your legacy in the business world.

    So, what’s it going to be? Will your next decision be a mere whisper, or will it echo through entrepreneurial history? Make it count because, in the business world, the flap of your wings today could be the tornado — or the rainbow — of tomorrow.

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    Chris Kille

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  • How Leaders Can Build and Cultivate a Sustainable Business | Entrepreneur

    How Leaders Can Build and Cultivate a Sustainable Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The global business ecosystem is witnessing an unprecedented metamorphosis, pivoting from traditional models to ones that deeply embed sustainable entrepreneurship as a core ethos. This new paradigm weaves together the age-old, profit-centric motives of businesses with a renewed and impassioned commitment to the betterment of society and the nurturing of our environment. It’s not merely a passing trend or a superficial alignment with popular sentiment; it represents the dawning of a more conscious era of commerce.

    Exhaustive studies and surveys have repeatedly highlighted a discernible shift in both consumer preferences and investor priorities. A growing cohort now resonates more vibrantly with brands and corporations that reflect their own ethical, ecological and societal values, underscoring that the ‘business as usual’ model is outdated and potentially detrimental in the long run.

    Related: 5 Ways to Make Your Business More Sustainable

    My personal immersion into sustainable entrepreneurship wasn’t an impulsive leap but a meticulously thought-out transition kindled by a seminal Harvard Business Review article. This piece, lucid in its narrative and compelling in its arguments, accentuated the urgency and indispensability of synchronizing business strategies with conscious, purpose-driven goals. It was a moment of epiphany, underscoring that generating wealth and catalyzing societal progress aren’t mutually exclusive but can be harmoniously synergized.

    To put it succinctly, the evolving zeitgeist of the 21st-century business world demands a recalibration of objectives and methodologies. The compass is no longer pointing solely towards monetary profit. Instead, it indicates a more holistic destination: profit intertwined with purpose, fiscal growth in harmony with ecological sustainability and societal advancement.

    Catalysts driving sustainable entrepreneurship

    As I navigated the complex world of entrepreneurship, I was continually made aware of the evolving ethos of consumers. A comprehensive IPSOS report shed light on this sea change, highlighting that modern consumers increasingly align their brand loyalty with ethical and environmental values. As I’ve learned, integrating sustainability into one’s business ethos goes far beyond public relations. It is a formidable pillar that can solidify a brand’s market position, unveil operational efficiencies, and mitigate long-term risks. Moreover, with international policy frameworks pivoting toward environmental conservation, businesses have both a moral and economic incentive to adopt sustainable practices.

    Related: Are You Implementing the 3 Ps of Sustainability? Experts Say You Should.

    Personal hurdles, solutions and insights

    On my entrepreneurial path, I sought inspiration from vanguards in the sustainable business space. For instance, the ascent of Beyond Meat isn’t just a testament to its innovative plant-based products. It’s also emblematic of a broader societal shift towards eco-conscious consumption. These companies underscore the commercial potential and societal imperative of green technologies. Their success stories are a testament to the fact that with foresight, innovation and persistence, sustainable businesses can indeed thrive and lead the market.

    Like every entrepreneurial venture, my journey was punctuated with challenges and introspections. A recurrent query that often surfaced was the economic viability of wholeheartedly embracing sustainability. I turned to online educational platforms and discovered courses that seamlessly blended sustainability with business, reaffirming that an eco-conscious strategy can align seamlessly with profitability, provided it’s executed with authenticity and foresight.

    Related: Sustainability In the Supply Chain Is the Need Of the Hour

    Reflecting and looking ahead

    In reflection, the role of an entrepreneur in today’s complex and rapidly evolving socio-economic landscape goes beyond traditional definitions. Entrepreneurs are no longer just innovators or market leaders; they’ve become architects of change, embodying a vision that intertwines profit with purpose. At the core, we’re expected to wear multiple hats — that of business magnates, societal reformers, ethical watchdogs and even environmental stewards.

    This multifaceted role emerged sharply during my foray into sustainable entrepreneurship. Every challenge faced and every decision made underscores a deeper realization: Sustainability is not just a buzzword businesses should adopt for contemporary relevance. It’s a foundational principle, a beacon guiding every strategic decision, shaped equally by ethical mandates and forward-thinking business pragmatism.

    I’ve come to view sustainable entrepreneurship as a tapestry intricately woven with threads of ecological balance, social responsibility and economic viability. Each thread is as crucial as the other, and removing one would unravel the entire fabric. It is this delicate balance that drives the essence of modern entrepreneurship.

    However, it’s essential to acknowledge that adopting sustainability isn’t just about securing future market positions or hedging against potential regulatory shifts. It’s about genuine commitment. It’s about understanding that every product we create, every service we offer, and every market we enter has ramifications that ripple outwards, affecting communities, ecosystems and global paradigms.

    As we stand at this pivotal juncture, with the weight of impending climatic crises and socio-economic disparities bearing down upon us, the onus is on entrepreneurs to lead the charge. To pivot from traditional business models that prized profits above all else to holistic frameworks that value collective growth and shared prosperity.

    My message to fellow entrepreneurs is both an appeal and an exhortation: As we sculpt the businesses of tomorrow, let us engrain sustainability into our corporate DNA. Let every decision be a testament to a future that is not just economically robust but also socially equitable and environmentally resilient.

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    Henri Al Helaly

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  • 5 Risks You Should Know About Daylight Saving Time | Entrepreneur

    5 Risks You Should Know About Daylight Saving Time | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    November 5 is right around the corner. That means it’ll be time to turn your clocks back an hour to observe the end of daylight saving time (DST). Daylight saving time was created to maximize the daylight hours during the spring and summer months, but switching back and forth can take its toll on the human body.

    That may be why the U.S. Senate introduced the Sunshine Protection Act to make DST permanent nationwide. Although it stalled in the House in 2022, future votes could finally bring change to the U.S. Until then, it’s important to understand the hidden dangers of adjusting the clock twice each year.

    Here’s what entrepreneurs should know about the dangers of the time change.

    Related: How to Set Boundaries With Your Team While You’re on Vacation

    The health risks of disrupted sleep

    A growing body of research highlights the health risks of disrupted sleep. Your body has an internal clock known as its circadian rhythm. This clock regulates your sleeping patterns, metabolism and even your body temperature. The time change disrupts that clock, which can result in the following:

    Sleep deprivation

    The most immediate effect is sleep deprivation. It takes time for your body to adjust to your new bedtime. Although your body will adjust in two weeks or less, in the meantime, you might experience fatigue or difficulty focusing.

    Cardiac issues

    Technically, the time change doesn’t cause cardiac issues, but the switch to/from DST has been correlated with an increased risk of heart attack or stroke. If you already have cardiac issues, the time change can make them worse.

    Metabolic disruption

    Your circadian rhythm also regulates your metabolism. Disruption can result in a slower metabolism, which may also lead to weight gain. That’s right — resetting the clock can have a measurable impact on your waistline.

    Related: How to Wake Up Early

    Increased evening car accidents

    The time change takes its toll on the human body. It can also have an impact on the country’s freeways.

    Daylight saving time and car accidents

    Switching to DST each spring yields a 6% increase in auto accidents. Switching back each fall yields a whopping 16% increase in deer-related car accidents.

    This increase is partly due to the reduced visibility in the evening hours. The fall also brings a change in animal behavior, which means that drivers may encounter more deer on the roads. Additionally, the shift from DST increases the number of sleep-deprived drivers on America’s roadways. Combine these factors and you have the perfect conditions for more accidents.

    Tips for your commute after DST ends

    Entrepreneurs don’t always get to choose what time of day they will be on the road. Here are a few ways to adjust your driving habits to stay safe following the time change:

    • Adjust your sleep schedule to prevent fatigue
    • Make sure your headlights/taillights are working
    • Don’t work late and become overtired
    • Stay alert and watch out for potential dangers
    • Join a carpool to share the burden of driving

    If you bike to and from work, make sure your clothing features plenty of reflectors to boost your visibility.

    Related: 9 Simple Ways to Transform Your Morning Routine and Boost Productivity

    The challenge of adjusting sleep schedules

    Adjusting to the time change is basically like going through a minor form of jet lag twice a year. Eventually, your body will adjust, but in the meantime, you might face some disruptions in your sleep schedule — which will also impact your productivity.

    The time change and your sleep schedule

    How long does it take to adjust your sleep schedule to the time change? According to the Sleep Foundation, it can take anywhere from a few days to a week. It can be especially hard if your schedule has you getting up before dawn or facing longer nighttime hours after a long day.

    The time change and productivity

    Sleep disruptions have a direct impact on your productivity. Research shows that the Monday after the time change, Google searches for music and videos spike, suggesting that people are spending less time actually working.

    How to adjust your sleep schedule

    As an entrepreneur, it’s important to adapt quickly to the time change. Here are some tips for getting a good night’s sleep once daylight saving time ends:

    • Gradually adjust your sleep schedule before DST ends
    • Stick to the same sleep routine
    • Avoid screens an hour before bedtime
    • Exercise regularly to maximize light exposure
    • Avoid naps

    Remember, your body will adjust. But these tips can streamline the transition so you can keep your head in the game without your eyes getting heavy.

    Related: If You’re Not Already Focusing on Employee Well-Being, You Should Be – And Your Bottom Line Will Thank You

    Mental health implications of daylight saving time

    Don’t neglect your mental health during the time change. If you already struggle with anxiety and depression, your symptoms may worsen when the daylight hours shorten. You may also experience seasonal affective disorder, which results in mood changes or symptoms of depression during the winter months.

    Entrepreneurs and mental health

    Entrepreneurs face unique risk factors and challenges. The time change occurs roughly at the start of the holiday shopping/shipping season, which means that your stress may be at a high. That’s why it’s important to practice self-care before and after the time change. Try to do the following:

    • Get regular exercise
    • Stick to your sleep routine
    • Stay connected with friends and family
    • Prioritize your days off
    • Maintain a healthy diet
    • Seek professional help when you’re overwhelmed

    When you get busy, it’s tempting to work through your day off or to binge on fast food. But maintaining healthy habits will be better for your body and mind.

    Related: These Strategies Help Entrepreneurs Combat Anxiety and Depression

    The impact on business operations

    Does the time change impact your business operations? Absolutely. The transition to/from DST can impact the way you interact with customers and other businesses.

    Customer interactions

    When people aren’t sleeping, people aren’t happy. Sleep disruptions don’t just make you tired; they can make you irritable. That can add volatility to your customer interactions. Customer complaints can quickly develop into full-blown confrontations, and your customer service team might be a bit short on patience themselves.

    Business collaboration

    The time change can make it difficult to schedule meetings with business partners and suppliers in different time zones. Some states (Arizona and Hawaii) don’t observe daylight saving time at all. International suppliers may be confused about the time change, making it hard to pursue collaboration.

    How to maintain efficiency

    Business leaders can ensure efficiency throughout the time change by:

    • Keeping employees and business partners informed about scheduling changes
    • Educating customer service reps about the impact of DST on psychology
    • Planning for the time change in advance
    • Maintaining your own physical/mental health throughout the change

    The good news is that DST comes and goes every year. Even new entrepreneurs can quickly learn the best practices to stay resilient during the transition.

    Related: 7 Things to Add to Make Your Morning Routine More Productive

    Be proactive, not reactive

    The transition from daylight saving time can take you by surprise. And if it does, you can experience the adverse health and occupational effects detailed above. But as an entrepreneur, you know the importance of being proactive. You’re in control of your mental and physical health, just as you’re in control of what happens in your business.

    Taking care of yourself is your first priority. Practice self-care, and don’t let stress knock you off your routine. By adapting your routine to the disruption of the time change, you can look forward to thriving both personally and professionally.

    Related: How to Fit Self-Care Into Your Crazy Busy Entrepreneurial Days

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    John Boitnott

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  • Every Business Owner Needs an Exit Plan — It’s Time You Develop Yours. | Entrepreneur

    Every Business Owner Needs an Exit Plan — It’s Time You Develop Yours. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Have you considered how your successful business venture will end?

    It might seem counterintuitive, but planning your business exit strategy from the start can significantly improve your entrepreneurial journey. When you set out on a road trip, you don’t drive around aimlessly — you have a destination in mind. Similarly, as an entrepreneur, having a clear end goal in mind guides your decisions and actions, leading to a more satisfying outcome for all stakeholders.

    Let’s explore why looking at the end from the beginning is a strategy that pays off, how to consider various exit options and what steps to take in preparation for a fulfilling and profitable exit.

    What is an exit strategy and why do you need one?

    An exit strategy is like the GPS guiding your entrepreneurial journey. Often thought of as a way to end a business, its core purpose lies in propelling it closer to its long-term goals and facilitating a smooth transition into a new phase or venture.

    Envisioning your exit isn’t just about business but also about harmonizing your professional aspirations with your broader life objectives. Whether it’s financial independence, travel or creative fulfillment, your strategy should mirror these objectives. Additionally, proactive exit planning attracts, builds credibility with, and encourages the loyalty of stakeholders (investors, partners and employees) who share your vision.

    Even if an exit isn’t imminent, constructing your business with a future exit plan promotes a continuous drive to elevate operations and forecast potential exit valuations. Much like assessing a home’s value, getting an inspection, and making improvements before listing it for sale, an exit strategy applies similar principles to increase the value of your business. Gaining insights into its potential exit value provides a heightened market perspective, influencing your strategic choices and supporting your credibility.

    Crafting your exit strategy, you also project what comes next: What’s your next venture? Where can you put your wealth to protect it and ensure growth? A well-thought-out exit plan carries you effortlessly to your next entrepreneurial or personal endeavor.

    Related: When Should Business Owners Start Developing an Exit Plan? Here’s What You Need to Know.

    Exit options: Picking your path

    In defining your exit strategy, you have various options to consider. There are as many unique paths as there are entrepreneurs; however, here are the typical high-level approaches:

    • Selling outright: While not always the goal, selling might be strategically advantageous, especially if a business is declining. Exiting before financial troubles worsen can protect your investment and prevent further loss.
    • Keeping it in the family: Passing the business to heirs can create a meaningful legacy. It’s important to ensure they are prepared to take on this responsibility and have the necessary skills or management support required to operate a business.
    • Initial public offering (IPO): An IPO generates substantial funding and rapid visibility, advantageous for fast-growth firms.
    • Mergers and acquisitions: These deals involve another entity purchasing either a majority or all of your company’s assets, driven by strategic and financial objectives.
    • Private equity investment: This route involves private equity firms purchasing companies, granting capital inflows and specialized resources to maximize profits.

    In my business practice, in which I’ve sold several well-established companies, I’ve learned another thing to consider: How your financing impacts your exit strategy. Self-funding gives you more control over your exit strategy and may encourage you to remain independent. In contrast, outside equity can come with investor expectations for specific ongoing or exit outcomes.

    Before bringing in any partners or investors, consider how the additional stakes may influence your long-term objective. If you bring in capital partners, have an open discussion with them about what the possible exits could look like and what they can expect.

    Related: How to Prepare a Company to Go Public in a Volatile Market

    Preparing for the grand exit

    As you move closer to operation exit, careful preparation is essential. You’ll need to ensure the approach you’re considering is feasible for your organization and business model, and that all stakeholders share the same vision.

    Here are best practice steps to take:

    • Retain expert council: Bring in legal, strategic and tax advisors to ensure you’re making informed decisions. Hiring a business broker can also prove invaluable in finding the right buyers or investors who align with your goals.
    • Get your financials ready: Having organized financial records increases transparency and makes the due diligence process smoother for interested parties.
    • Optimizing revenue and expenses: To maximize your exit valuation, focus on optimizing your revenues and managing expenses.
    • Negotiate for the best terms: Effective negotiation ensures you get the best deal and your interests are protected. Aim for terms that align with your objectives and minimize economic risk.
    • Vet your buyer/investors: Ensure that whoever acquires your business will maintain your vision and treat your team well.
    • Determine post-acquisition management: Will you still be involved? What happens to your team? Clarify what the management structure will look like post-acquisition.

    In 20-plus years of founding and operating successful businesses that naturally scale up and lead to profitable exits and observing the wins and failures of peers and competitors, I’ve distilled a crucial principle that applies to all businesses: Innovation fuels efficiency, growth, credibility, and operational sustainability. This applies even more to dynamic industries subject to significant social, technological, regulatory, and economic change.

    Always being open to (and embracing where appropriate) innovation in tech, business models, production/fulfillment methods, marketing, compliance and other areas of operations helps you thrive in a competitive landscape, demonstrates your resilience and potential longevity, and supports the interest and trust of stakeholders.

    Diligence and advance planning ensures you’re taking the most strategic approach to transition into the next phase of your journey.

    Related: 10 Mistakes I Made While Selling My First Startup (and How You Can Avoid Them)

    Carving out your entrepreneurial legacy

    As you navigate business ownership, be mindful that a successful journey involves more than focusing on the present. Working backward and planning your exit strategy from the start enables you to create a roadmap that aligns your business endeavors with your personal, organizational, and financial goals. Consider where your path will lead and plan your exit strategy accordingly. In doing so, you’ll enhance your chances of success and ensure your entrepreneurial legacy endures.

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    Robert Finlay

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  • 6 Ways to Make Passive Income Through Rental Properties | Entrepreneur

    6 Ways to Make Passive Income Through Rental Properties | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    One of the oldest and easiest ways to create passive income is through rental properties. Luckily for investors and entrepreneurs, the property rental market remains strong and continues to grow. Based on data from the U.S. Census Bureau, more than 35% of households in the U.S. rent homes. Additionally, RentCafe reported that multifamily construction in 2022 reached a 50-year high nationwide, and according to Axios, “one million rental units are slated for completion through 2025.”

    Additionally, a recent GoBankingRates survey revealed that 14% of Americans don’t believe they will ever be able to afford a home, and 27% have no interest in buying a home, contributing to the demand for rental housing options. This is due to a variety of factors, including a low inventory of homes for purchase, barriers to homeownership such as high prices and high-interest rates, and a growing nomadic workforce that doesn’t want to be tied down to one location.

    Although rents appear to be stabilizing, demand for rental properties is still high and on-time rental collection rates recently rose above pre-pandemic levels. That means now may be a good time to rent out property, which may be easier than you think.

    Here are six types of rental properties that can help you earn passive income and even begin building generational wealth.

    1. Traditional investment properties

    Traditional investment properties have long been a popular choice for those seeking to generate passive income through rentals. It’s a rather simple concept: purchase a property, find tenants to rent it out and collect monthly rental income. Investors have the opportunity to decide whether to invest in long-term, mid-term, or short-term (vacation) rentals.

    Long-term rentals offer stability in rental rates and cash flow with a reduced risk of vacancies, while vacation rentals and short-term stays allow for higher rental rates with a higher risk of vacancies. Vacation rentals are also less passive, requiring more work to clean and ready the property in between stays and find tenants on a much more frequent basis. But the returns on investment can be much higher.

    There’s also a “mid-term rental” investment option, where the lease lasts for more than one month but less than one year (college student housing would fit into this category). Mid-term rentals require a bigger time investment than long-term properties but aren’t as demanding as short-term rentals. Some investors may want to diversify their rental property portfolio by owning a mixture of long-term, mid-term, and short-term rental properties, while others may commit to whichever style best suits their preferences.

    2. The accidental rental

    Investing in a new property isn’t always necessary to become a rental property entrepreneur. There are instances where you may already own extra property, such as a vacation home, a newly inherited property or perhaps you recently got married and both you and your spouse own your own home. Instead of selling these extra properties, you may consider renting them out.

    Sometimes, it’s more beneficial to hold on to a property over the long term rather than collecting a quick payout. Retaining properties for rental purposes cannot only help you build more real estate equity, but it can bring in a significant amount of passive income as well (and you may benefit from tax savings, but consult a tax professional on that). Combining the extra income with long-term equity gains can contribute to building generational wealth.

    3. House hacking

    Another strategy that has gained traction in recent years is “house hacking.” House hacking involves renting out a portion of your own home. If you own or purchase a property that is bigger than your housing needs, and you’re looking for a way to earn some extra cash, rent out a room (or several rooms).

    House hacking allows you to significantly reduce or eliminate your own housing expenses by using the rental income from renting out extra rooms to help pay down your mortgage and/or offset utilities and other costs of homeownership. House hacking can be a great way to start building passive income without the need for a large initial investment.

    4. Built-for-rent

    A growing trend in real estate is the “built-for-rent” market. Built-for-rent homes are built by companies that specifically design their properties for rental purposes only. These properties are often strategically located in desirable areas, ensuring high demand and consistent occupancy rates, and are marketed to people looking to maximize their returns on investment in the real estate industry.

    Investing in built-for-rent properties has become one of the most lucrative ways to generate a steady stream of passive income. By purchasing residential properties specifically designed for rental purposes, you can benefit from a consistent monthly income with minimal involvement. Typically, the built-for-rent company handles all aspects of property management, including finding tenants, handling maintenance and repairs, and collecting rent. This enables you to sit back and enjoy your rental income without the stress and time commitment associated with traditional real estate investments.

    5. Mixed-use properties

    A mixed-use property is a real estate asset that combines both commercial and residential spaces. This provides a unique opportunity to rent out both residential and commercial units. Leveraging the potential of these properties can lead to a sustainable and reliable passive income source, but there are several strategies to consider.

    One effective strategy for generating passive income through mixed-use properties is maximizing rental yields. This can be achieved by strategically curating a mix of commercial and residential tenants that complement each other. For example, having a retail shop on the ground floor of a residential building can attract more tenants and increase rental demand.

    Another strategy is to focus on choosing the right location for your mixed-use property by conducting thorough market research to identify the most profitable locations. For example, investing in areas with strong growth potential, high foot traffic, and a good mix of commercial and residential demand can increase the value and attractiveness of your property.

    In addition, look for other shared space opportunities like coworking spaces that provide short-term or flexible rental options that cater to the evolving and increasingly nomadic habits of modern workers. By taking an innovative approach to offering mixed-use rental spaces, you can tap into a variety of rental markets and maximize their passive income potential.

    6. Storage units

    When you think of rental properties, storage units usually don’t come to mind. However, renting out storage space can also generate passive income streams. There is a high demand for storage space, and fulfilling this need can help you earn money effortlessly by maximizing unused space. In addition to renting out traditional storage units, people can also rent out space in garages, basements, attics, and spare rooms. By getting creative and marketing effectively, you can effectively turn your empty spaces into profitable assets.

    Regardless of what kind of property you decide to rent out, technological advancements have streamlined property management, making it a more efficient and attractive endeavor. Property management tools and software automate many routine, time-consuming tasks such as listings, tenant screening, rent collection, and maintenance requests. This means you can spend less time on administrative duties and focus more on more important life activities, all while maximizing your passive income.

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    Ryan Barone

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