Opinions expressed by Entrepreneur contributors are their own.
For Janette Silva, having a family business has been both a blessing and a curse. As the sole daughter, her involvement with the family business was never predetermined, in contrast to her brothers, who have enjoyed the security of stable salaries and lifelong perks a family business brings.
Gradually, Silva took on the mantle of running the company, yet the official CEO title remained out of her grasp. In addition to her professional duties, she shouldered the care of her aging parents and managed her household responsibilities. This burden wasn’t the subject of discussion but rather her family’s unspoken expectation. At her workplace, she often cringed when she heard phrases like, “You don’t know what you’re talking about; let me talk to your dad” or “Ah, I see, you got this job because you’re his daughter.”
Although women in the broader business landscape contend with various gender biases, those in family businesses grapple with an added layer of complexity and severity that further complicates the picture — and the situation is worse than it might appear.
Revealing gender discrimination in family businesses
Regrettably, stories like Silva’s are all too familiar. That should be no surprise, as gender-based expectations persistently permeate family dynamics. Nevertheless, in today’s world, it’s both unjust and unwise to limit the prospects of a capable family member on the basis of their gender.
A research team composed of experts from my team at Loyola Marymount University’s Family Business Entrepreneurship Program, Business Consulting Resources, the University of San Francisco’s Gellert Family Business Center and Women Leaders in Family Enterprises decided to examine this issue more closely.
We were curious about the extent to which women face uphill battles and how the experience of bias and discrimination in the family business impacts how they perceive their own sense of work performance and career progressions. We embarked on an extensive three-year study, which entailed conducting qualitative interviews and organizing focus groups in 2019 and 2020. This was followed in 2023 by an extensive survey involving more than 100 women leaders. Our respondents primarily represented multi-generational businesses (77%) consisting predominantly of CEOs or senior managers (74%) who boasted an average tenure of 16 years.
Remarkable revelations
Our study revealed that gender discrimination still casts a shadow, manifesting as the infamous “glass ceiling effect,” the persistent “sticky floor impact” and a lack of opportunities in leadership roles. Around 49% of our respondents reported experiencing gender bias (compared to 42% for all businesses in the U.S., according to Pew Research from 2017). Forty percent of the respondents who acknowledged bias also expressed a belief that their gender had hindered their progress within the family business.
Given that our survey respondents were mostly top managers, it is not surprising that much of the biases came from the external business environment. They emanated from customers (51%), vendors (37%) and the broader business community (45%), highlighting the pervasiveness of the issue in our society. Astonishingly, family members themselves served as the source of discrimination in over a third of cases.
One respondent candidly shared, “My father openly says women are no good in business,” while another recounted, “The men in the family are automatically granted the most senior positions, leaving me with limited options.” Additional comments painted a similar picture: “Had I been a boy, I would have been a managing director, but as a girl I wasn’t considered,” and “I was told that the CEO position would always be held by a male.” One woman leader poignantly reflected, “In my family business, I had to work tirelessly compared to my brothers to achieve the same recognition.”
The consequences of gender biases proved enduring, leaving a lasting impact on those affected. Individuals who experienced bias reported that it had a detrimental effect on their work performance. They were more prone to suffering from imposter syndrome — an affliction characterized by feelings of inadequacy, self-doubt and a haunting fear of being exposed as a fraud. This syndrome had the potential to further erode their performance, making these findings both eye-opening and concerning.
Women in family-owned businesses have traditionally fared better than those in large publicly owned companies. For instance, it was widely celebrated that, as of January 2023, women had exceeded the 10% threshold for Fortune 500 CEOs. On the other hand, it is generally accepted that at least 24% of family businesses are led by a woman CEO or president. This progress is commendable, especially when considering that family businesses often impose distinctive challenges to their female members.
One key challenge arises from entrenched family traditions rooted in the culture and history of these businesses, which can overshadow an objective assessment of qualifications. Typically, sons ascend to leadership roles, relegating daughters to supportive positions, regardless of their abilities. Furthermore, the familial dynamics and the informal nature of decision-making within these family units — relying more on personal biases and stereotypes than formal policies and procedures — can further perpetuate gender disparities. Compounding the problem is the usual absence of external oversight (e.g., external board members) in family-owned enterprises.
Adding to the complexity of gender discrimination in family businesses is its deeply impactful nature. Women who experience gender bias often encounter it from their own kin, including parents, siblings and close family associates. This personal dimension can heighten the emotional toll, and confronting family members risks straining vital relationships further.
Due to their emotional commitment in the legacy of the business, many women find it exceedingly difficult to pursue other opportunities, even when discrimination persists. This predicament is exacerbated by the fact that women in family businesses often have limited external support systems to turn to, as seeking help from external sources can amplify familial conflicts. As a result, women who grapple with gender discrimination in family businesses often find themselves extremely isolated, making the experience all the more formidable.
This type of situation could sound familiar to you — perhaps you’re the leader of a family business or have experienced it firsthand. But it is possible to break the chains of gender bias and impostor syndrome in family business.
The following are the strategic steps you can take to not only dispel gender bias but also fortify family dynamics and improve business performance.
Acknowledge the problem: Collectively agree on the presence of gender bias within the family business and the need for change. Ensure buy-in and commitment from top leadership.
Revamp the family charter: Revise the family charter or institute a code of conduct that explicitly champions gender equality and nondiscrimination within the family and the business.
Educate and raise awareness: Educate all family members and employees about the prevalence and significance of gender equality using workshops and other training programs.
Implement a gender-equal HR policy: Rework the HR policies to ensure fairness, objectivity and transparency across all facets — hiring, evaluation, promotion and compensation.
Forge an equal opportunity succession plan:Redefine succession planning through an egalitarian lens, focusing on capabilities rather than gender.
Foster a supportive culture: Establish an inclusive and supportive work culture where every individual can freely voice concerns without reprisal. This culture also acts as a potent antidote to imposter syndrome.
Tap into external expertise: Consider enlisting the aid of external consultants or experts in diversity and inclusion to provide guidance and offer an objective perspective.
Gender bias in family businesses can have a detrimental effect on both the business and the family. On the other hand, breaking free from bias and discrimination and rewriting the rules can have a positive impact on the business, leading to improved morale and a competitive advantage in the marketplace. It also fosters more harmonious family relationships, allowing both the family and the business to truly flourish.
Opinions expressed by Entrepreneur contributors are their own.
Listen, I get it. When you’re in the entrepreneurial game, it’s tempting to zero in on one number: ROI or Return on Investment. It’s the classic, the old reliable. But let’s get real for a second — focusing solely on ROI is like judging a movie solely by its box office earnings. You miss the nuances, the essence and — dare I say it — the soul of the business.
Enough with the accounting textbooks already! ROI isn’t the end-all-be-all. There are more dimensions to business success than dollars and cents. Ever heard of customer satisfaction? Employee engagement? Social impact? Yes, I’m talking about those “soft metrics” you often sweep under the rug. Trust me, overlooking these can be the Achilles’ heel for your empire.
1. Employee happiness: The backbone of your business
Let’s cut through the fluff: Your employees aren’t cogs in a machine; they’re the backbone of your business. Their happiness translates into productivity, which snowballs into everything you care about — customer satisfaction, ROI and your bottom line. Don’t just toss a survey their way once a year; dig deeper. Use tools like the eNPS (Employee Net Promoter Score), OKRs (Objectives and Key Results) and regular one-on-ones to get a temperature check. Remember, a happy employee is engaged, and engagement is a direct route to skyrocketing productivity.
2. Customer satisfaction: The North Star of business metrics
So, you’ve got a killer product. Great. But if your customers aren’t happy, all the ROI in the world won’t save you. Dive into metrics like Customer Lifetime Value (CLV) and Net Promoter Score (NPS) to get into your customer base’s psyche. And forget about faceless transactions; build relationships. Turn customers into raving fans, and watch how quickly your “immeasurable” metrics start adding zeroes to your ROI.
3. Social impact: More than just a buzzword
Think social impact doesn’t affect your bottom line? Think again. Millennials and Gen Z are voting with their wallets and want to invest in businesses that stand for something. Corporate Social Responsibility (CSR) isn’t just for show; it’s a necessity. Whether it’s sustainability or social justice, align your business with causes that matter and measure the impact. Trust me, “doing good” has never been better for business.
4. Holistic success: The new gold standard
If you’re still clinging to ROI as your sole success metric, you live in the past. We’re entering an era where holistic success is the gold standard. It’s not just about financial gain; it’s about creating a business that’s a force for good, that people love to work for and that customers rave about. It’s about a 360-degree view of success.
5. Cultural capital: The underestimated asset
Another critical dimension often overlooked is cultural capital. I’m not talking about office parties or casual Fridays. I mean the ethos, the core values, how your team interacts and the unspoken norms that govern your business environment. This cultural fabric isn’t just window dressing; it’s a strategic asset influencing everything from talent retention to your brand’s market perception.
A strong, positive corporate culture can be a significant differentiator in competitive markets. It’s time we start putting a value on this intangible asset. Tools like cultural assessments or even deep-dive interviews with staff can unearth the layers of your company’s culture. Invest in this immeasurable asset because your competition probably isn’t; this could be your competitive edge.
6. Intellectual property: Measuring the intangibles
Ah, the mystical realm of intellectual property (IP) — an area of your balance sheet that isn’t often talked about yet holds immense value. Whether it’s a patent, a unique business process or even your brand equity, these intangibles contribute massively to your overall business worth. And guess what? They’re often missed when you’re glued to ROI. Establish methods to gauge the value and effectiveness of your IP; it’s not just legal mumbo-jumbo but an asset that can have an exponential payoff in the long run.
The immeasurables are measurable: The tools you need
Who says you can’t measure the immeasurables? With the advent of advanced analytics tools, you can quantify almost anything. Consider using sentiment analysis tools to gauge customer feelings or sophisticated survey methods to measure employee engagement. Go beyond Google Analytics; delve into customer behavior and trends with AI-powered insights. Take a closer look at your supply chain — there are hidden social impact indicators all along the way. The point? There’s a treasure trove of data if you’re willing to look.
The action plan
Talk is cheap; it’s time to act. Start by auditing your current metrics — what are you measuring and why? Then, identify the “immeasurable” metrics that align with your brand ethos. Once you’ve done that, put your money where your mouth is. Invest in the tools, the people and the time required to track these new metrics. It won’t happen overnight, but if you start now, you’ll be light years ahead of the competition, who are still stuck counting beans.
Folks, we’re in the business of building legacies, not just bank accounts. Sure, ROI is important, but it’s not the only marker of success. So, let’s disrupt the conventional wisdom, shall we? Stop fixating solely on ROI, and broaden your lens to include the metrics that truly matter. Because at the end of the day, we’re really measuring the impact we’re making on the world. And isn’t that the ultimate success?
Before the world knew Suzanne Somers as the ThighMaster entrepreneur, she played Chrissy Snow on “Three’s Company,” forfive seasonsof the hit show, which aired from 1977 to 1984.But in 1981,she was fired for demanding the same pay as her male colleague and series star, John Ritter, which would have bumped her pay from $30,000 an episode to $150,000, plus a percentage of the show’s profits, per Fox News.
“At that time, the men were making 10 to 15 times more than I was,” Somers told Fox in an interview last year. “And I was on the No. 1 show. It just seemed wrong because I was clearly being underpaid.”
Somers, who passed away at age 76 on Sunday, was an equal pay pioneer — and took a lot of backlash for it.
ABC refused to meet her demands and slowly phased her out of the show. Her last episode was at the end of the show’s fifth season.
“Now, I was out of work and labeled ‘trouble’ only because I wanted to be paid fairly for doing my job,” she said.
After getting over “the shock and the hurt and the anger,” Somers remembered that there was great power to her name that now had “enormous visibility.”
“I was portrayed as greedy and ‘Who does she think she is?’ and was persona non grata in television,” Somers recalled.
She went on to cement a Las Vegas residency at the MGM Grand shortly after her exit from the show. “We did incredible business and my stage career was started,” she said in 2016 to the Las Vegas Review-Journal.
Photo by ABC Photo Archives/Disney General Entertainment Content via Getty Images | “Video Mania” Behind-the-Scenes Coverage – Airdate: October 29, 1993.
But following her stint on stage, Somers turned her attention to entrepreneurship and became a brand ambassador for an at-home exercise device called the ThighMaster. She became known for her infomercials, with one particularly memorable for featuring her in high heels and workout wear.
She sold 10 million ThighMasters in the first two years, according to Fox. While she stopped counting how many she sold, she said she made $300 million from the deal.
During a March 2022 interview with “The Hollywood Raw Podcast,” she said she bought out the company, which wasdeveloped bytobacco heir Joshua Reynolds, and owns 100% of the ThighMaster business.
“We had partners — 50/50 — and they got drunk on money when it all started selling,” she said during the interview. “They overspent to the point where they could no longer afford to be in their side of the business, so we bought them out.”
She went on to develop her own products under her name ranging from clothing, jewelry, and health and wellness products. She was one of the top-selling brands on the Home Shopping Network in 1992, and since then, her business has remained in operation and she still sells products on her website today.
“I have over a thousand products,” she told Fox News Digital in May 2022, adding that she also published 27 books, 14 of which were best sellers.
“Would I have wanted to do it this way? No, but I allowed it to take me and us where it wanted to go,” she told Fox. My biggest complaint today is that I work too much. I’m always keeping busy.”
At her time of death, Somers had a reported net worth of $100 million.
Opinions expressed by Entrepreneur contributors are their own.
Starting a business is like setting sail into uncharted waters, and the initial excitement can often be met with unforeseen storms. I relate my experiences as an entrepreneur who, teetering on the edge of adversity, made a critical decision to pivot.
From grappling with market dynamics and culture to reimagining the very essence of my business model, this journey stands as a testament to the vital role that adaptability plays in the challenging world of business.
In 2016, I started a venture in the UAE, together with my co-founder. Our experience in education and educational management totaled around 50+ years in the Middle East, and we were adamant about reshaping the tutoring landscape in Saudi Arabia. We came up with the idea to centralize the tutoring landscape, as it was, at the time, scattered. Every traffic light you would stop at would have dozens of pieces of paper stuck onto it with the names of teachers, their phone numbers, subjects taught and hourly rate.
So, we created an app that allowed parents to “order” their teacher and slot in a session at their convenience. The teacher would then be “delivered” to the home of the customer using the Uber model, and the session would then be delivered and paid for after completion. We decided to start with B2C, create a buzz, and then on the back of that, enter the B2B market.
Marketing
Our sales team traveled around the country, hitting the malls, educational institutions and pretty much anywhere people would gather in order to show the concept, get feedback and close clients. The campaigns were moderately successful, and we managed to close several clients on the spot, collect feedback and make small amendments to our services accordingly. This not only gave us proof of concept, but it also helped us identify any issues that we might have overlooked in terms of the practicality of our business model.
The launch
After we had generated interest through our presence, not only on the ground but also through our online marketing efforts, we were ready to officially launch our project. The expectations were high based on the legwork we had put in and the results it generated for us. However, despite all our initial efforts, when we officially launched … crickets!
My co-founder and I were utterly baffled; how could it be that despite our data telling us that we were clearly onto something, the market didn’t react as we had expected it to? The answer was … culture!
2016 was right before the online app surge in Saudi Arabia, and although people were very interested in the idea during our marketing campaigns, and many clients signed up on the spot, the idea of having a stranger come to your home and teach was met with apprehension by the people at the time (now, in 2023, this has changed dramatically).
The pivot
So, because we had our product ready, our teams in place and our consultants ready to commence, we adapted our business model and turned to the corporate sector. I put on my work boots, went completely old-school and started knocking on doors. With my laptop in hand, I was selling our services to anyone who cared to listen. I approached the larger corporations in the MENA region, and it turned out to be an immediate success!
In no time, we had training contracts with the likes of IKEA, STC, The Ritz Carlton, and even Souq.com (now acquired by Amazon). And before long, we were able to close country-wide long-term agreements with several of them.
The reason we were able to turn our B2C model into a B2B success was that the corporate landscape was already used to bringing in consultants for various corporate training sessions, which made entry to this market a breeze for us. Now that we were generating income, we utilized the customer base of the larger corporations to offer our B2C services through employee-loyalty programs they had with their customers. This helped us overcome the cultural barrier, as we were now not “a stranger” coming to the client’s home, but a legit partner of the brand they already trusted.
As entrepreneurs, once we think that we have an idea that can be revolutionary in a certain market, we often go all-in expecting the market to respond as we would like it to. In my case, we were able to pivot and turn it around by hitting the B2B market first, then reverse engineer and turn to then still be able to enter the B2C market and be successful. However, I am sure that there are many situations where an entrepreneur was not able to pivot and had their brilliant idea go bust. So, make sure that in your business model, you leave room for the possibility to pivot, giving your business idea a second chance to survive.
Goldbelly co-founder and chief product officer Vanessa Ariel grew up in Venezuela and moved to the U.S. when she was 18, so she’s well-acquainted with “food nostalgia” — the hankering for a favorite dish that can’t be found where you are. In Venezuela, “Our no. 1 comfort food is an arepa,” Ariel tells Entrepreneur. “An arepa is so comforting that you eat it for breakfast, lunch and dinner. You can stuff it with meat, you can stuff it with veggies, you can stuff it with cheese, it doesn’t matter. You can eat this at 3 a.m. — you can eat it at 3 p.m. And it is incredible.”
Her husband and co-founder, Joe Ariel, was familiar with food nostalgia too, in a different way. Born and raised in New York, he attended college in Nashville, and when he returned to his home state, he couldn’t find the Southern cuisine he’d come to love. “We were dating at the time,” Ariel recalls, “and he would always talk about these foods and how he would pay anything to get these foods here so that I could try them. So it went from this beautiful, What if we could do this? to making it into a reality.”
“It felt like a very ambitious idea,” Ariel adds, “but also like the future.” The duo was confident a platform of its kind would exist one day — so why not be the ones to make it happen?
Back then, in 2012, Ariel didn’t necessarily make the connection between her and Joe’s experiences of missing their favorite foods. But more than a decade after they and co-founders Joel Gillman and Trevor Stow began building the business that would grow into a food-delivery platform with nationwide reach and millions of customers, she acknowledges the parallel — and sometimes finds it hard to believe that their big dream turned into an even bigger success. To date, Goldbelly has raised $133 million and boasts more than 1,000 restaurants on its site.
One restaurant on the platform that hits particularly close to home is Doggi’s Arepa Bar based in Miami, Florida. “There’s never a time that I have an arepa that I don’t cry,” Ariel says. “One hundred percent of the time, I cry. It reminds me of my home, of my parents, of my grandmother who made me arepas every single day. And so, for the first time, I was able to experience this food nostalgia just through one of my own foods that I grew up eating, which I never had the opportunity to do until now.”
It’s Hispanic Heritage Month (September 15-October 15), and Goldbelly is celebrating with a collection featuring acclaimed Hispanic chefs and food makers “shipping unforgettable restaurant experiences to your door” — now and year around. Food Network star Aarón Sánchez of New Orleans-based Johnny Sanchez, Chef Arnaldo Richards of Houston-based Picos Mexican Restaurant and Fany Gerson of Brooklyn-based La Newyorkina are among some of those highlighted.
“I got a lot of inspiration from the fashion industry, which photographs items in such a beautiful, aspirational way.”
Goldbelly’s road to success wasn’t always smooth, but the business got an early break when it was accepted into Y Combinator in 2013. Goldbelly had already gained some traction, “but Y Combinator [created a] support system for us,” Ariel says. “It made it feel less lonely to be entrepreneurs. We were paired with other people that were building companies in different industries that were facing similar challenges. So we got to learn from conversations that we were having with our peers.”
The funding from Y Combinatorallowed Ariel to quit her job and work on the startup full-time. With a background in UI/UX design, branding and ecommerce, she had a clear vision for a marketplace where people could order the best foods to be shipped nationwide. But she also recognized a significant problem from the start: To work, the platform “needed to be a visual experience” — yet most restaurants didn’t have photography fit for Goldbelly’s purposes.
“Most restaurants had photos of their dishes that just came out of the oven, that were styled at their restaurants, that had all of this dishware, or stuff that was not really polished or aspirational,” Ariel explains. “But I got a lot of inspiration from the fashion industry, which photographs items in such a beautiful, aspirational way. They show you how to wear it. They show you how to include it in your daily life.”
Image Credit: Courtesy of Goldbelly. Testing photography in the early days.
It took a couple of years to strike the perfect balance and “tell the right story,” which gave people an accurate picture of what they’d receive, didn’t make Goldbelly look like a recipe site and kept everything aspirational. At the time, it was challenging to depict assembly (but not cooking), though the practice is common within the growing meal-kit industry today, Ariel says.
“We weren’t the most convenient. We weren’t the cheapest. But what we are and have always been is the best.”
When the co-founders returned to New York, another hurdle awaited them: pitching investors. With the vast array of cuisines available in the city, it was difficult for some of them to see the value in Goldbelly’s offering. The company doesn’t limit food options based on location and reduces the friction and complexity of ordering out of state.
“Our sweet spot is focusing on the foods people love the most,” Ariel says. With just a few clicks, customers can order pizza from Lou Malnati’s in Chicago or smoked brisket from Terry Black’s Barbecue in Austin and find them at their doorstep courtesy of FedEx or UPS in a matter of days. But the service isn’t inexpensive either; the Terry Black’s offering comes with four to five pounds of brisket and costs about $250.
Image Credit: Courtesy of Goldbelly. Bartolini’s Pizza.
“[New York investors] thought about it as a commodity business,” Ariel explains. “They were thinking about food delivery, like how to get [it] to you. The nearest, fastest [delivery] to your office or home. And we were so the opposite of that: We weren’t the most convenient. We weren’t the cheapest. But what we are and have always been is the best.”
Goldbelly’s growth over the years has proven its model, but perhaps the greatest testament to its necessity and success came during the pandemic when customers craved the comfort their favorite foods could provide and restaurants struggled to maintain revenue. At the time, Goldbelly “was bursting at the seams on the customer side and the merchant side,” Ariel recalls. The company gained a million new customers in 2020 and saw annual sales jump 300% compared to 2019.
“We want to help you discover a dish that you never knew existed, through something else that you already love and that you’ve been in your entire life.”
Next up? Goldbelly plans to use AI to recommend foods and help people find new favorites, taking inspiration from music streaming services like Spotify.
“Music and food are very similar in the sense that it’s through food and music you can relive a moment, celebrate something, that you can [create] a mood, show someone affection,” Ariel explains. “Music streaming services have [broken open] the discovery experience. That is something that can be directly applied to food. So we are experimenting with AI to help people find foods from their past. We want to help you discover a dish you never knew existed through something else you already love and have your entire life.”
And once people reconnect with foods from their past, Goldbelly’s there to make them easy to enjoy. Just consider Ariel’s beloved arepas: They’re delicious, but putting them together can be “intimidating,” she says — and it’s “the combination of ingredients that makes an arepa special.”
“The fact that I can go to Goldbelly and get a kit that gives me the exact kind of meat that is shredded the way it needs to be, that is seasoned the way it needs to be, the exact kind of cheese, the exact kind of beans that my grandmother [made], the fact that I can get this in a kit, I cry every single time,” Ariel says. “And I know this kit wouldn’t exist had we not come up with this company.”
Daymond John is the reason I became an entrepreneur.
When his clothing brand, FUBU, first launched I was in junior high school. I was immediately drawn to the bold designs and the associated status wearing his clothes would bring me. But, since we had already done back to school shopping, my mother wasn’t willing to buy me anything I didn’t need.
But here’s the thing, I didn’t need FUBU gear, I wanted it. So, I started making money by working after school. I did yard work around the neighborhood and earned $5 per hour. If I wanted a new shirt, I knew I could make enough money in a week. If I wanted to throw in a pair of pants too, I could make enough money by working over the weekend instead of sitting around watching television.
That experience taught me that I could get anything I wanted so long as I had vision, opportunity and the determination to make it happen. And although Daymond unintentionally taught me about entrepreneurship as a teenager, there’s nothing accidental about the movement he’s creating through Black Entrepreneur’s Day.
What is Black Entrepreneur’s Day?
Founded in 2020 by Daymond John, Black Entrepreneurs Day is the ultimate celebration of Black business and entrepreneurship.
This year’s event is highlighted by insightful conversations with Black business icons including Cedric the Entertainer, Whoopi Goldberg, SHAQ, Anthony Anderson, Cari Champion, Sloane Stephens and many more.
To date, the event has raised over $750,000 in Black Business grants in partnership with the NAACP and has inspired millions of fans. That commitment continues this year with Shopify sponsoring an in-person pitch competition.
Beyond that, Black entrepreneurs from around the country can apply for the chance to win a $25,000 grant to help them grow and scale their businesses through the NAACP Powershift Entrepreneur Grant. In addition to the monetary compensation, winners of the grant will receive:
Mentorship from Daymond John
Join Daymond live on air during this year’s Black Entrepreneurs Day broadcast
This year’s grants will be funded by event partners including: J.P. Morgan Chase, The General Insurance, Hilton, T-Mobile, Salesforce, and TriNet.
So if that sounds good to you, apply now, the application window closes October 11, 2023. You can find more information on the Black Entrepreneurs Day website.
Why Black Entrepreneurs Day is so important to Daymond
The tale of how Daymond built FUBU is legendary but one aspect of the story stands out to me because it epitomizes the resilience and creativity displayed by many other entrepreneurs.
When Daymond first launched FUBU he didn’t have money for marketing or publicity. However, he did have one valuable asset; a deep understanding of his audience which included how they spent their free time. Specifically, they frequented the hottest hip-hop clubs in New York City.
So Daymond, he gave away FUBU clothing to bouncers who worked at these clubs.
Why did he do this, and what was the impact?
He knew these bouncers had trouble finding fashionable clothes in their size. (He solved a problem)
Unlike other fashion forward people, they wouldn’t just wear it occasionally, they would wear his clothes at least every weekend. (His product inspired loyalty)
Standing outside of these clubs, they were very visible to his target audience, people who liked hi-hop. (He identified micro influencers)
This strategy not only got the name out, it eventually helped him land LL Cool J as a celebrity influencer, which exposed FUBU to an even bigger audience.
Fast forward 30 years and you have the outline of a perfect influencer marketing campaign.
Daymond understands people and behavior in a way that truly encompasses the empathy so many other brands and marketers try to project. Fortunately, his empathy also extends to other entrepreneurs who are struggling to find the money to build their business.
During our interview he stated “I know that a lot of the money that has been traditionally issued out in this country is not going to us. But this is issued by an entrepreneur who is African American by companies that are supporting this initiative. Now, the playing field is even for me as an African American.”
When asked about the kind of impact he wants Black Entrepreneurs Day to have he shared the following.
“You know what the victory is going to be? People who got the grants year one, two, three and four and on coming back to say my business is doing great.”
This isn’t just a performative gesture, Daymond is helping people establish generational wealth.
The impact Daymond has had on generations of entrepreneurs
As mentioned, Daymond John inspired my entrepreneurial journey, but he’s already played a role in my 7 year old daughter’s as well. This year we purchased his book “Little Daymond Learns to Earn“. His book ignites kids’ early interest in how money works through storytelling and practical examples. After reading it my daughter decided to start her own business selling custom bookmarks at her elementary school.
During my chat with Daymond I shared how much money she made as well as the impact it had on her confidence and creativity. He replied “I mean, you encompass black entrepreneurs day. We’re trying to do the same exact thing that just happened. Educate people and also give them money. And then highlight just amazing people who are helping us do it like, McDonald’s and Hilton and all of our partners.”
He then extended an invitation for me and my daughter, Lena, to join him at this year’s Black Entrepreneurs Day. Her teachers are onboard with it, so long as she shares her experience with the rest of the class.
I’m sure she won’t be the only entrepreneur who inspires and empowers their community based on the experience they have at the event.
You can learn more about Black Entrepreneurs Day and register to watch the online event, which takes place November 1st, at www.blackentrepreneursday.com.
Opinions expressed by Entrepreneur contributors are their own.
As the founder of Viirtue, my entrepreneurial journey was a rollercoaster of decisions, risks and strategic turns. But one of the most critical turning points was knowing when to seek institutional capital for my business. This is a decision that can make or break a startup, and understanding the correct timing was paramount for us.
My company was bootstrapped for many years, and we maintained profitability throughout. This was a significant advantage, especially when the economy took a downturn in 2022. It was a moment when investors started valuing profitability more than unicorn potential, which put us in a favorable position.
But even then, the decision to raise institutional capital wasn’t taken lightly. It came after we saw rising traction and rapid growth. Larger groups had access to more capital and strategic advisory than we did, which fueled our motivation to seek institutional funding.
We ran a long process, vetting investors just as much as they vetted us. In our eyes, this was not just about finding a partner for financial growth, but also about securing strategic guidance. We were not looking for a mere check; we were in search of a partner who could offer advice and mentorship based on experience and industry insight.
The process wasn’t without its pitfalls. One of the primary lessons we learned was about the importance of hiring investment bankers that specialize in your industry. Initially, we made the mistake of hiring inexperienced bankers. This decision cost us time, money and a long tail period when we decided to move on from them. If there’s one thing I wish we did right from the start, it would be interviewing many bankers who specialized in our vertical and meticulously checking references.
Investment bankers are not just intermediaries who connect you with potential investors. They represent you at the negotiation table. Many founders can receive Letters of Intent (LOIs), but the real challenge lies in navigating deals that don’t retrade and negotiating with future stakeholders, especially when emotions run high. These are the moments when a seasoned investment banker can make all the difference.
Ultimately, we decided to raise capital for a multitude of reasons. The business was growing exponentially, and we needed the development and sales funding to help us scale from a $20 to $30 million company to a company worth over $100 million. We had long-time minority investors who were looking to exit and needed liquidity. And most importantly, we were in search of strategic partners who could fuel our growth thoughtfully as well as financially. Raising capital was the silver bullet that enabled us to accomplish all of these goals in one fell swoop.
Are you ready to take on institutional capital?
Firstly, are you ready to commit to the robust reporting requirements of investors? Institutional investors will need regular and detailed reports on business performance, financials and strategic updates. This requires a significant time commitment and a level of transparency that some business owners may find uncomfortable. We had always operated Viirtue with candor and transparency. This made the transition so much more frictionless.
Secondly, do you truly need the capital to reach a milestone, or are you just taking money? Money for the sake of money can lead to wasteful spending and a lack of focus. It’s crucial to have a clear understanding of what you need the capital for, such as reaching a particular business milestone or achieving a specific growth target.
Thirdly, do you have a thoughtful growth plan of how you will deploy the capital? It’s not enough just to have money; you need a strategic plan for how that money will be used to grow your business. This includes identifying key areas for investment, understanding how these investments will drive growth and having a clear timeline for when you expect to see returns. Detailed financial modeling is an incredible asset for any founder. We never had a full-time finance leader, yet still were able to create detailed models with our CPAs and bankers. Additionally, when it comes time to pitch to investors, they will want to see these models coupled with market research and other evidence to support your assumptions.
Finally, have you set the stage to significantly scale your team? Fundraising is a pivotal step, but it’s just a piece of the puzzle. The real task is putting the capital to good use, which often implies expanding your team. This demands not only a well-crafted recruitment strategy but also the capacity to house a growing workforce.
At Viirtue, we have always held our people in the highest regard. Our human capital, which comprises industry experts and genuinely wonderful individuals, has been our greatest asset, our superpower. The team’s dedication and expertise have been instrumental in shaping my company’s identity and will continue to give us a competitive edge as we move forward.
The unique culture we have cultivated at my company has been a magnet for new talent, making our scaling efforts more seamless than we could have ever anticipated. But, let me assure you, a strong culture doesn’t materialize overnight. It’s a product of time, open dialogues with your team, investing in their growth and success, and co-creating a vision that resonates with their sense of purpose.
I have often emphasized the transformative power of finding purpose in work. When you can align a group of uniquely talented individuals towards a shared mission and imbue their roles with purpose, the result is nothing short of magical. A purpose-driven team is not just a group of employees; it’s a community of dedicated contributors who are invested in the company’s journey and its ultimate success.
The quest for institutional capital is more than just a funding round. It’s a strategic move that can catapult a business to new heights if done correctly. But it’s crucial to remember that timing is everything. Raising capital should be considered when the business shows promising growth and needs an additional boost to reach its full potential. It should also be considered when partners are looking for an exit, and the company requires strategic guidance to navigate future growth.
One more point to consider is the importance of maintaining profitability. It’s not just about creating an appealing proposition for investors. It’s about ensuring that your business can weather economic downturns and still come out on top.
I hope you find success and the answers you are searching for in your entrepreneurial journey. Whether or not it is the right time to raise capital is ultimately up to you as a founder.
Opinions expressed by Entrepreneur contributors are their own.
There is no one formula to become a successful entrepreneur, and there is certainly not a set path. Entrepreneurship is a journey that is full of immense opportunities but also immense challenges.
My path to becoming a founder of a unicorn startup was a winding path. I was raised in Kentucky, in the heartland of America, by a single mother in a union household. My mother and grandparents, who helped raise me, encouraged me to read as much as I could from a young age. I was drawn to business and motivational books, which helped create a positive mindset and provided me with one of the first views into the basics of business.
I was able to scale the first business I founded to unicorn status, a billion-dollar startup. Only 0.1% of companies reach this incredible milestone. The journey was extremely rewarding but filled with many challenges that take a toll on the entrepreneur. That is why you need to be in the right mindset when starting your journey, and as an entrepreneur, you should always look for ways to improve yourself and your business.
Reading many books from a young age allowed me to self-teach the common principles that make people successful in business and helped me dream big when founding my company. Here are five books that inspired and prepared me for the wild ride of scaling a startup from a $10,000 line of credit to going public on the New York Stock Exchange.
First published in 1937, “Think and Grow Rich” is one of the most influential self-help books of all time. Andrew Carnegie commissioned the author, Napoleon Hill, who spent over 20 years studying successful individuals, including Henry Ford, Thomas Edison and Alexander Graham Bell, among others. The book outlines 13 principles that can help you achieve wealth and success, such as having a burning desire, having a positive mental attitude and taking massive action.
The book provides valuable insights into the mindset of successful people and the principles they follow. This is the single most important book that shaped my outlook on success, and I encourage everyone to read Think and Grow Rich. Hill’s message is clear: success is attainable for anyone who is willing to follow these principles.
‘The Magic of Thinking Big’ by David J. Schwartz
My mother always told me to “dream big because it is free.” If you are planning your future, it takes no more effort to dream big. This remains the number one piece of advice I give to aspiring entrepreneurs.
David Schwartz, in The Magic of Thinking Big, teaches you how to think positively, set big goals and take action. It encourages you to believe in yourself and your abilities and to think outside the box. The book provides practical tips and strategies to help you overcome fear and doubt, build confidence and succeed.
‘The Power of Positive Thinking’ by Norman Vincent Peale
The author, Norman Vincent Peale, was a minister who believed that faith and positive thinking could help individuals overcome adversity and achieve their goals. Entrepreneurs are met with challenges at every turn when starting their endeavors, the book can help you overcome self-doubt and cut through any negativity to maintain a healthy outlook on life.
“The Fountainhead” is a novel that explores the concept of individualism and the importance of following one’s own values and beliefs. The book’s protagonist, Howard Roark, is an architect who refuses to compromise his artistic vision, even in the face of opposition from society. Rand’s novel is a reminder that entrepreneurship requires courage and conviction.
Mark Cuban famously said in a 2006 interview with C-Span, “I’ll pick it up when I need motivation, but then if I read too far I get too much motivation, and I get too jittery, so I have to put it down.”
‘The First Billion is the Hardest’ by T. Boone Pickens
The First Billion is the Hardest is a memoir by T. Boone Pickens, an industry titan and one of America’s most successful entrepreneurs. The book provides insights into his business philosophy and the strategies he used to build his empire. Pickens shares his experiences and lessons learned, including his failures and successes.
I was lucky enough to get to know the legendary Boone Pickens. He should serve as an inspiration to all entrepreneurs. He reinvented himself throughout his career and persevered no matter the challenge.
Just as my own unique path led me to success, others can also find their own way forward, inspired by the wisdom of those who have gone through similar experiences. With the right mindset and a strong desire to learn, the world of entrepreneurship isn’t just a goal but a life-changing adventure.
Entrepreneur’s TV show Elevator Pitch challenges contestants to step into an elevator and pitch directly to a camera, attempting to wow a panel of investors watching them on a monitor in 60 seconds or less. If investors like what they hear, the elevator doors open into the board room, and negotiations begin. If they don’t like what they hear? The elevator gets sent back down, game over.
Ten seasons in, and there have never been second chances on Elevator Pitch — until now. We chose four entrepreneurs who didn’t make it out of the elevator to attend a pitching boot camp with legendary pitchman Anthony Sullivan and business coach Tina Frey to see if they could earn a shot at redemption.
Over the course of four episodes of Fix My Pitch, the entrepreneurs have been challenged to redo, reboot and rebuild their pitches. The coaches have pulled apart every aspect of their pitches, from the words they say to the way they stand. And in this episode, the season finale, we find out if their hard work has paid off. Watch to see who will land a return ride on Elevator Pitch!
You need to authentically know who you are and what your product is.
When you are in a crowded space, you must work on the differentiator so that your audience knows how you are different from your competitors.
You don’t want to sound like you are reading a script. Break it down into bite-sized pieces. Your pitch should be like a story you’re telling your best friend.
If you get stuck, take a moment and take a deep breath.
Find support from fellow founders — being an entrepreneur is not an easy path, and talking with people who experience the same ups and downs is helpful.
Fix My Pitch contestants
Ashley Rosulek, founder of Osweetfitness, affordable, high-quality luxury athletic wear
Brandon Storms, founder and CEO of Retavo, a platform to launch and maintain a state-of-the-art enterprise-grade marketplace at an affordable price
William Colton, CEO of Paldara, a company harnessing the power of natural bacteriophage to fight and prevent disease.
Arvin Bhangu, founder of Superintelligence, a research lab that aims to create a system that allows for the co-existence of humans and Artificial General Intelligence (AGI)
Fix My Pitch experts
Fix My Pitch is sponsored by State Farm. Season 10 of Entrepreneur Elevator Pitch premieres on October 18, 2023.
Opinions expressed by Entrepreneur contributors are their own.
Expanding a successful startup internationally can be exciting, but it’s not without its challenges. What works in one country might not necessarily translate smoothly to another. The world is a diverse tapestry of cultures, legal systems and market dynamics. Let’s explore the obstacles that startups should manage when venturing into the international arena, complete with real-life examples that shed light on the complexities of global entrepreneurship.
Culture is like a hidden iceberg that can sink your international business if not navigated carefully. Cultural challenges are often pivotal aspects of international business expansion. A profound understanding of local customs, values and preferences is indispensable for success.
For instance, McDonald’s faced a significant cultural challenge when entering the Indian market, where vegetarianism is prevalent. To resonate with the predominantly vegetarian customer base, the company astutely adapted its menu. This transformation included the introduction of a variety of spicy sauces and condiments, along with local favorites like masala fries. This strategic move not only ensured the acceptance of the McDonald’s brand but also significantly boosted its popularity in India. This example underscores the vital role that cultural sensitivity plays in international expansion, as it can be a decisive factor in whether a business thrives or struggles in new markets. Understanding and respecting local cultures can turn challenges into opportunities and create lasting success.
Team dynamics
Managing a team spread across different countries can be a complex jigsaw puzzle. Critical decisions about staffing levels, choosing between local or international teams and HR processes weigh heavily on the success of international ventures. Recruiting and relocating foreign teams to specific countries often entail intricate processes, extending over several months. Consequently, meticulous and timely preparations become invaluable in alleviating stress and conserving significant resources.
Your product may be a hit at home, but it might need a makeover abroad. Nestlé’s experience in Japan is a classic example. They realized that their standard ice cream bars were too large for Japanese freezers. So, they downsized the product, ensuring a snug fit. Had Nestlé not recognized and addressed this issue promptly, it could have led to a series of potential losses and setbacks, including financial losses, reputation damage, market share erosion and missed opportunities. By adapting their product size to Japanese preferences, Nestlé not only prevented potential losses but also tapped into a market segment they might have otherwise missed. Small changes can make a big difference in product acceptance.
Marketing mishaps
Marketing is a minefield where a misstep can have serious consequences. Procter & Gamble (P&G) learned this the hard way during the mid-1970s when they ventured into the Japanese market with Pampers disposable diapers. In the United States, P&G’s diaper advertisements featuring storks struck a chord with parents eager to bid adieu to cloth diapers. However, this approach fell flat in Japan, where storks had no association with delivering babies. Instead, Japanese folklore featured giant peaches. A comprehensive understanding of local customs and traditions is essential for success in diverse global markets.
Navigating legal landscapes
Setting up a business internationally involves grappling with legal complexities. Airbnb, for example, had to adapt to varying regulations in different countries. Some places imposed restrictions on short-term rentals, while others required hosts to register. Adhering to local laws and regulations is essential to avoid legal troubles. Additionally, choosing the right legal structure for your business is crucial, considering ownership restrictions in some countries, such as specific limitations on foreign ownership and requirements for local shareholders or partners. Selecting the appropriate company type, appointing directors and securing the necessary permits are all fundamental steps in this intricate legal process.
Licensing, permits and intellectual property protection
Securing the necessary licenses and permits for your business can vary significantly from one jurisdiction to another. Just because you have the required permits in one country doesn’t guarantee the same in another. This intricate process involves understanding and complying with diverse legal requirements. In addition to licenses and permits, safeguarding intellectual property (IP) rights is paramount. Apple’s protracted struggle with Chinese counterfeiters exemplifies the hurdles of protecting IP in a global marketplace. Your business must navigate these intricacies diligently to operate smoothly and safeguard your innovations and assets.
Expanding internationally is a thrilling journey filled with opportunities and hurdles that test the mettle of startups. As exemplified by real-life cases like McDonald’s catering to Indian tastes and Nestlé’s ice cream adaptation in Japan, the ability to adapt, respect local norms and navigate the intricacies of diverse markets is the cornerstone of international success.
Each obstacle conquered not only adds to a company’s expertise but also unlocks the potential for broader global reach and influence, creating a more resilient and adaptable organization. International expansion may not be a piece of cake, but with the right preparation, a keen mindset and an unwavering commitment to understanding and embracing global diversity, it can be an immensely rewarding adventure that propels businesses to new heights of success.
Opinions expressed by Entrepreneur contributors are their own.
Launching a startup is no small feat; it’s a thrilling ride but also a bumpy one, and it takes more than a bright idea to navigate it successfully. Securing funds, putting together a dream team, setting appropriate goals and managing the daily hustle are all part of the gig.
Over the years, not just working with startups but also founding one myself, I’ve seen firsthand that there’s no one-size-fits-all process. However, having the right mindset and a few solid strategies can take you a long way, and these strategies work across the board as success is usually dependent on your approach and commitment.
Mastering time and resource management is a critical element in the formula for startup success. My entrepreneurial journey taught me that trying to juggle all balls at once can often lead to dropping them all; it’s important to remember that not every task demands your direct input and many could be managed more efficiently by others.
However, this isn’t merely about shifting tasks; it’s about empowering your team, enhancing their skills and freeing up your schedule to focus on pivotal aspects. As a founder, your prime responsibility should be steering the strategic course, envisioning your venture’s future and tracking progress. Operational tasks, while vital, can and should be delegated.
Executive leadership
Teaching and guiding require effort, and this is where fractional executives step in. They handle crucial business areas for specific projects or durations, adding much-needed agility to your startup’s dynamic pace. A fractional Chief Operations Officer (COO) can optimize operations, while a Chief Human Resources Officer (CHRO) addresses talent issues, freeing you to strategize and drive results.
It’s important to note that “fractional” doesn’t mean “disengaged.” In fact, these executives are deeply committed to your business’ success, providing expertise as needed. This gives you timely support without the commitment of a full-time role.
Leveraging their rich knowledge, fractional executives can significantly elevate your operations and strategy. And before making any commitments, you have the opportunity to experience specific roles or individuals, which significantly reduces hiring risks. Also, their vast networks can introduce you to potential investors, partners, vendors and clients.
I’ve personally witnessed fractional roles like COO, CHRO, CTO or CEO making significant positive impacts. The primary advantage? Cost-effectiveness. You receive top-tier expertise without the full-time executive cost.
Funding
One of the biggest mistakes I’ve seen startups make is chasing funds without a solid plan on how to manage them. After all, money has a sneaky way of slipping if you’re not keeping a close eye on it. Bringing in a finance wiz, like a fractional Chief Financial Officer (CFO), right from the get-go, may be one of the best things you can do. An experienced Fractional COO can help attach numbers and dates to your goals, helping put investors’ minds at ease when making the decision to invest.
You may be thinking, “But I can do all this myself,” and if so, that’s great! However, if you spend all of your time worrying about budgets and timelines, you will have a harder time finding the bandwidth to strategize and work toward your company’s growth potential.
Bringing someone on board helps you understand your burn rate and project revenues and helps you align expenses with growth plans, almost effortlessly. They can establish a robust financial plan that builds investor trust — the key ingredient needed to secure and sustain funding long-term — while allowing you to focus on your product, service or market.
As your startup scales, your operational volume will increase rapidly. The capability to manage this surge without a corresponding hike in complexity, risk and cost is crucial for viability. A seasoned pro like a COO, with a resume spanning across industries and companies, can use their sixth sense to avoid unnecessary risk, spot inefficiencies and create processes to optimize growth.
A good COO establishes scalable systems and workflows that evolve with your startup, ensuring smooth and effective operations throughout multiple growth stages and eliminating the need for constant process reevaluation.
Technology
In the fast-paced startup world, leveraging technology can fuel growth. Incorporating AI and machine learning can streamline complex processes, provide valuable customer insights and enable trend analysis and prediction, giving your startup a competitive edge, faster.
However, it’s crucial to remember that technology is not a one-size-fits-all solution. It should strategically align with your startup’s unique needs and overarching business strategy.
Having a technology expert well-versed in the startup landscape, such as a fractional COO, CIO (Chief Information Officer) or CTO (Chief Technology Officer), can provide support tailored to your needs. They can implement suitable technologies, create growth plans and offer insights on tech options that complement your mission, preserving the human touch amid the automation race.
Networking and strategic partnerships
Through my experiences, I’ve come to recognize something important: The most valuable opportunities and lessons often emerge when we least expect them, and only by keeping an open, adaptable and receptive mindset can we truly seize such opportunities.
We can sometimes fall into the illusion of having all the solutions, but truth be told, we don’t, and it’s important to acknowledge our limitations. In fact, when we become immersed in our business bubble, we can develop blind spots that limit our ability to think outside the box and explore new possibilities. In comes networking.
Networking goes beyond expanding your business connections — it can not only enhance existing strategies but also uncover innovative ideas, foster collaborations and ultimately drive your startup toward its next breakthrough in the most efficient way possible. So, I encourage you to step outside of your comfort zone, collect new perspectives and use your interactions to enhance the way you operate.
There’s incredible strength in acknowledging that you shouldn’t do it all alone. In fact, the secret to a thriving startup lies in your ability to recognize and admit when you need assistance. So, surround yourself with experts who can contribute to your growth, and remind yourself that asking for help isn’t a sign of weakness, but rather a cornerstone to success.
Opinions expressed by Entrepreneur contributors are their own.
If you own a business, you know that reputation is everything. It’s not enough to know what your brand is about and its values – you must communicate all these things to clients, partners and stakeholders. This is where PR places your company on the map and establishes the right communication channels. But with so many names out there competing for clients’ attention, how do you know you’re hiring a reliable PR contractor?
In this guide, you’ll discover six tips to help you choose a professional, result-driven PR agency that will work to effectively build your brand reputation and make your brand stand out on the market.
1. Look for an agency with a rich media catalog
A long list of media outlets in an agency’s database is not just a sign of extensive connections in the industry. It also means it will be easier for a media expert to select the outlets that perfectly fit the client’s criteria, such as budget, niche and target audience. Let’s break it down with a simple comparison:
Bad agency: Offers you a list of a couple of dozens of media to choose from to publish your story. It’s unlikely you’ll find an outlet that satisfies all your PR needs – even the core ones.
Good agency: An extensive media catalog with outlets covering various industries, reader demographics and geographic regions. No matter what your PR goals are, you’ll be able to find the right place to publish and promote your business.
Remember: quality always beats quantity. Instead of bringing your brand name to the pages of several little-known or low-quality outlets, it’s crucial to focus on choosing a few or even one reputable source. Expert PR agencies live by this rule and would not waste your time and money on publications with little to no impact.
Bad agency: Likely chooses cheaper outlets with fewer readers to save their (not your) budget. They might also conceal what outlets your piece will feature in until the moment of publication.
Good agency: Focuses on results and transparently communicates the selection of reputable outlets, even if it means a higher price. You will be able to make an informed decision and know exactly what impact the PR campaign will have on your business growth.
Imagine you come to a real estate agency looking to buy a property. An agent keeps pushing you to buy this “amazing” apartment with a “great” interior design and a “fantastic” infrastructure. But they never tell you where the property is or even show you any pictures. That’s what happens if you work with a PR agency that has no open portfolio. It’s a leap into the unknown, often not worth the risk.
Bad agency: Doesn’t have a portfolio. Agents refer to vague NDAs as an excuse, so you don’t really see any examples of the agency’s work and achievements.
Good agency: Shows you real client cases and publications. Better yet, it has a diverse portfolio published on its website, so you can take your time to see and analyze it.
4. Seek full clarity on price and service-wise
When something is too good to be true in the PR industry, it probably is. So, if you found an agency that offers publications in great media for unusually low prices, it’s reasonable to be suspicious. Always explicitly ask for all the details of each publication. Does it come with special tags? Is it a full-on piece about your brand or just a mention? Try to eliminate all the blind spots.
Bad agency: Sells you a publication marked as “advertising” so that search engines will treat it as an ad, not a piece of organic content. Or will promise a high-profile placement but deliver a brief mention in an unrelated article.
Good agency: Is straightforward about prices and services. Will tell you what page your publication will appear on, whether it will carry any tags, etc. You’ll know for sure where you land.
Traditional PR agencies often insist on signing long-term contracts regardless of their clients’ needs. It means a higher price and a lower level of flexibility. What if you can’t afford it consistently due to financial struggles? Or perhaps you will no longer need the PR services in a couple of months. Canceling such contracts can be costly and legally painful.
Bad agency: Pushes you to sign a year-long contract and make a large advance payment and is not fully transparent about the cancelation policy.
Good agency: Strives to be flexible. Offers short-term contracts and is open about the cancellation policy, ensuring you have the freedom to tailor your PR services according to your needs.
6. Read real client reviews
When choosing a PR agency, it’s smart to see what other clients have to say. Reviews provide valuable insights into how the agency operates, the quality of its services, and whether it can truly meet your needs.
Bad agency: Avoids sharing client feedback or only shows you a few cherry-picked positive cases. Or it has many generic reviews that lack specific details about the agency’s actual performance.
Good agency: Is proud of its track record and will show you a range of feedback, both positive and constructive. Reviews include photos and/or links, feature brand names and real company representatives.
All these tips revolve around one core idea: work with professionals. Just like you’re looking for a qualified doctor to attend to your health, an expert mechanic to fix your car, or an experienced teacher to educate your children, only say yes to a PR agency that inspires trust and shows professionalism. After all, PR is a key aspect of your brand’s reputation and success.
There are more than 4.8 million “picklers” in the U.S., according to a 2022 report from the Sports & Fitness Industry Association — devotees of the pickleball pastime often described as a combination of tennis, Ping-Pong and badminton.
It even claims the title of America’s fastest-growing sport, with a 40% jump between 2019 and 2020, per the report. And though all ages are getting in on it, more than half (52%) of players participating eight or more times a year are 55 or older, with nearly a third (32.7%) 65 or older.
Small businesses often have small marketing budgets — but that shouldn’t hold back your marketing efforts!! Join us for an exclusive webinar led by Yelp’s small business expert, Emily Washcovick.
In this session, you’ll learn how to reach your audience on a shoestring — by harnessing the power of local culture, trends, and events.
During this webinar, Emily will share:
The art of localized marketing and how to tap into culture, trends, and local events for maximum impact.
Strategies to leverage even the smallest local events, to connect with your audience and boost your business.
How to seize opportunities during nationwide events that also have a local component, effectively crowd-sourcing customers for your business.
Real-world examples of successful localized marketing.
Insights from Yelp’s recent coverage of the impact of the “Beyonce bump,” and how local businesses can thrive off of large events.
Don’t miss this chance to learn from Yelp and gain the knowledge and strategies you need to master localized marketing. Whether you’re a small business owner, marketer, or entrepreneur, this webinar will equip you with the tools to connect with your community, boost engagement, and drive revenue. Join us on October 24th at 3:00 PM ET and elevate your business’s local marketing game to the next level!
Register now to secure your spot!
About the Speaker:
As Yelp’s Small Business Expert, Emily Washcovick is meticulously focused on helping local business owners succeed and grow. Her expertise lies in customer engagement, reputation management, and all things digital marketing. Through speaking engagements and thought leadership, Emily shares industry insights that entrepreneurs in any business category can leverage for the growth and well-being of their businesses. She is also the host of Behind the Review, a podcast from Yelp and Entrepreneur Media, where each episode features conversations with a business owner and a reviewer about the story and lessons behind their interactions.
Congratulations to the 2023 Pepperdine Graziadio Business School’s Most Fundable Companies® presented by the Singleton Foundation for Financial Literacy & Entrepreneurship. In our sixth year, more than 3,000 early-stage US startups from across all 50 states vied for a space on the list. All 17 winners are worthy of serious investor consideration based on several variables, including financial projections, market opportunity, intellectual property, competitive advantage, and team-management expertise. Serving as a free resource for startups looking to source capital and accelerate innovation across industries and communities, our program educates founders on investor diligence and provides critical business assessments. At Pepperdine Graziadio, we believe that developing purpose-driven leaders involves connecting early-stage companies with the resources needed to positively impact the business market. Supporting aspiring entrepreneurs is at the core of Graziadio’s mission, and our Most Fundable Companies assessment provides valuable insights on how businesses will appear to top investors—driving beneficial outcomes for all stakeholders.
Valqari leads the drone delivery revolution with our secure, fully automated, end-to-end solution. Powered by AI-enabled, agnostic software, offering customization and scaling for advanced capabilities.
ViCardia Therapeutics, Inc.
ViCardia Therapeutics, Inc.
Founders: Michael Kokesh, Dr. Ahvie Herskowitz, Dr. Thilo Bayrhoffer, John Callaghan Location: San Francisco, CA Industry: Biotechnology
ViCardia’s GP-531 is a first-in-class treatment for acute heart failure, the cardiovascular epidemic of the 21st century. GP-531 improves healthspan to achieve optimal lifespan.
GOLD
AllSides Technologies, Inc.
AllSides Technologies, Inc.
Founders: John Gable, Joan Blades, Scott McDonald Location: San Francisco, CA Industry: Software Technology
AllSides combats a global crisis of credibility by addressing media bias, misinformation, and social divides, reviving news media, schools, workplaces, organizations, and democratic societies worldwide.
Franklin Junction, Inc.
Franklin Junction, Inc.
Founders: Rishi Nigam Location: Atlanta, GA Industry: Software Technology
Franklin Junction is a unified eCommerce technology platform for restaurants that allows them to unlock high margin incremental revenue in less than 30 days.
Making Space (Zetta, Inc.)
Making Space (Zetta, Inc.)
Founders: Keely Cat-Wells Location: Los Angeles, CA Industry: Software Technology
Making Space is a talent acquisition and learning experience platform that offers accessible education, prequalifies talent, and helps companies access underrepresented talent with data-driven profiles.
NuvOx Pharma, LLC
NuvOx Pharma, LLC
Founders: Evan Unger, Jennifer Johnson Location: Tucson, AZ Industry: Biotechnology
Hypoxia, lack of oxygen, causes death and morbidity. Following simple IV injection, NanO2TM safely restores oxygen levels. NuvOx Pharma has advanced clinical trials leveraging non-dilutive funding.
SeeMedX, Inc.
SeeMedX, Inc.
Founders: Deborah Simpson, Dr. Kevin Ferguson, Dr. Marc O’Griofa Location: Sacramento, CA Industry: Medical Technology
Alyve Medical’s pioneering technologies are transforming musculoskeletal care and rehabilitation using advanced sensors, proprietary algorithms, and biofeedback, revolutionizing treatment for optimal motion and outcomes.
Data Safeguard, Inc.
Data Safeguard, Inc.
Founders: Sudhir Sahu Location: Santa Clara, CA Industry: Software Technology
Ready. Set. Food! has created a patented guided system to make it easy to follow food allergy prevention medical guidelines and give babies the best chance at a life free from food allergies.
RemotelyMe (Aretanium Executive Group, Inc.)
RemotelyMe (Aretanium Executive Group, Inc.)
Founders: Bill Reed, Steve Doolittle, Tony Stewart Location: Chula Vista, CA Industry: Software Technology
RemotelyMe solves a $9T workforce problem with generative AI, visual neuroscience, and a ChatGPT LinkedIn app. We have a seasoned team, customers, revenue, and blue-chip CxO board advisors.
BRONZE
Novuson Surgical, Inc.
Novuson Surgical, Inc.
Founders: Stuart Mitchell Location: Bothell, WA Industry: Biotechnology
Novuson is clearing the way for safer surgeries with the world’s first Direct Therapeutic Ultrasound surgical instruments for minimally invasive, robotic, and other surgical specialties.
OneFul Health, Inc.
OneFul Health, Inc.
Founders: Edison Hudson, Danny Barnes Location: Durham, NC Industry: Pharmaceuticals
OneFul Health’s patented robotics make personalized “polypills” combining from three to seven FDA-approved pharmaceuticals into a single capsule or packet matching a doctor’s prescriptions, optimized to your genomics.
Opus Medical Therapies, LLC
Opus Medical Therapies, LLC
Founders: Jaime Sarabia, Dr. Vivek Rajagopal, Yen Liao Location: Smyrna, GA Industry: Biotechnology
WedFun is a fashion- and beauty-led wedding planning platform and WedFun streaming channel uniquely combined in the same app by the team that built MTV.
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Opinions expressed by Entrepreneur contributors are their own.
Let’s grab the bull by the horns here, fellow trailblazers. Criticism is the unwelcome cocktail at our entrepreneurial fiesta, but we can’t escape it. The more we innovate, the more people line up to take a swing at our ideas.
But hey, haters gonna hate, right? Here’s your battle plan to transform that spite into the fuel of your success.
Strategy #1: The duck’s back approach
Think of the last time someone critiqued your entrepreneurial vision. Did it feel like a punch in the gut? Oh, I know it all too well! But, you see, as entrepreneurial warriors, we’ve got to cultivate a skin as water-resistant as a duck’s back.
When the storm of criticism falls, we need to let it roll right off. Remember, they aren’t attacking you personally. No, no! They’re merely taking a swing at the idea you’ve nurtured. The key to surviving this onslaught? Emotional detachment.
Let’s take Elon Musk, for instance. He has faced and continues to face massive criticism for his ventures, from Tesla to SpaceX. Yet, he remains unfazed. Why? Because he views criticism as an opportunity to improve, not a personal attack. Learn from the best!
Now, some critics are more annoying than mosquitoes at a summer barbeque. But painful as it is to admit, they aren’t always wrong. This is where we don our “Critic Translator” hat.
Translate the destructive, seemingly worthless criticism into actionable, constructive feedback. Yes, it’s akin to finding a needle in a haystack. Yes, it’s tough — but it’s a skill worth developing.
Take Sara Blakely, the genius behind Spanx. She listened to a sea of critics and transformed their skepticism into a billion-dollar business. Use criticism as a compass to navigate the treacherous entrepreneurial seas!
Strategy #3: Understanding the critic’s motive
Critics — they come in all shapes and sizes. Some genuinely want to help you, while others are just looking for some demolition fun. Investigating your critic’s motive can save you from a rollercoaster ride of emotions and wasted energy.
Is their criticism aimed at building you up or tearing you down? Unraveling the intent behind the words can help you distinguish the wheat from the chaff. Discard the spite. Keep the wisdom. Your enterprise deserves it!
Strategy #4: Positive affirmation elixir
We sometimes forget to pat ourselves on the back in our entrepreneurial journey. Remember, self-doubt is the silent killer of dreams. Always maintain a positive attitude, and keep your confidence rocket high.
The story of Walt Disney serves as a timeless example. He was fired for not being creative enough and faced numerous business failures before creating Disneyland. It was his unwavering belief in himself that kept him going.
Strategy #5: The hater repellant — gratitude
Ah, gratitude! It’s the good stuff we often overlook. Remember, criticism can only hurt if you allow it to. So, why not diffuse the situation with a simple “thank you?” It might sound counterintuitive, but expressing gratitude toward your critics can be remarkably disarming.
Consider this: Your critics are taking time out of their day to focus on your work. Their feedback might sting, but at least you’ve got their attention. Use this to your advantage, take the criticism on board, say “thank you,” and surprise them with your resilience. This way, you’re not just dealing with criticism but actively taking control of the narrative.
Look at it this way; Bill Gates once said, “Your most unhappy customers are your greatest source of learning.” Embrace this wisdom. Turn your critics into unwitting teachers.
Embracing criticism requires a growth mindset. That’s your final armor against haters. Developing a growth mindset means understanding that abilities and intelligence can be developed. It’s about believing in the growth potential, despite setbacks and criticism.
When Airbnb was first launched, it faced countless criticism. People thought the idea of renting a stranger’s room was absurd. However, the founders, Brian Chesky and Joe Gebbia, held onto their growth mindset. They welcomed the criticism, learned from it, pivoted their strategies and ultimately built a billion-dollar company.
Strategy #7: Build your empathy empire
As entrepreneurs, we’re instinctively hard-wired to empathize with our customers. So, why not extend this empathy toward our critics as well? Sure, it may rain on your parade, but try stepping into their shoes. Understand their perspective. Often, empathy can help us extract the underlying concerns or ideas behind the barrage of criticism. You might discover a new approach or angle that could supercharge your business.
Strategy #8: The serenity code
Facing reality, it’s essential to recognize that not every critique merits your attention or efforts. Understanding when to respond and when to release is paramount. As Reinhold Niebuhr’s Serenity Prayer imparts, “Grant me the serenity to accept what I cannot alter, courage to change what I can, and wisdom to discern the disparity.” Embrace this wisdom in your entrepreneurial journey. It’s your invisible shield against the biting winds of baseless criticism.
Strategy #9: The ego-tamer
As an entrepreneur, there’s a good chance you have high self-esteem. You wouldn’t venture into the treacherous waters of entrepreneurship otherwise. But remember, there’s a fine line between self-esteem and ego. Criticism hurts the ego, not self-esteem. Keeping your ego in check is vital. It allows you to objectively assess and handle criticism without letting it shatter your confidence.
Strategy #10: The reality-check network
Your network is your secret weapon. Having a trusted group of advisors or mentors who can provide a reality check when you’re swamped with criticism is essential. This group can assist you in evaluating the credibility of the critique and provide valuable support during challenging times.
Consider the example of Oprah Winfrey, who has encountered various criticisms throughout her career. However, her reliable network of advisors has been instrumental in guiding her toward achieving the pinnacle of success.
Use criticism as a mirror. It reflects what you’re projecting into the world. Take this as an opportunity to reflect and refine your entrepreneurial venture. If the same criticism keeps surfacing, it’s probably a sign that something needs tweaking. Be proactive, take action, and refine your strategy.
So, keep your chin up, my fellow game-changers! In the land of innovation, critics are as sure as the sunrise. Wear their skepticism as a badge of honor, for they wouldn’t be so invested if you weren’t onto something big. Let’s turn these adversities into stepping stones for greater success!
Vision is the cornerstone of achievement, and visionary leaders possess the unique ability to see opportunities where others see obstacles. Learn how to unlock the secrets of becoming a visionary leader and start your journey toward unprecedented success!
Join us on October 26th at 2:00 PM ET for an inspiring webinar led by Logan Stout, author, keynote speaker, and entrepreneur, whose companies have generated billions in revenue. Discover how you can become a visionary leader not only for yourself but for everyone counting on you.
During this insightful webinar, you will learn:
How to establish a clear Vision that guides your path to success.
Strategies to take action on your Vision and turn dreams into reality.
Techniques to embody your Vision, making it an integral part of your leadership style.
Methods to effectively transfer your Vision to inspire and empower your team.
The self-discipline needed to stay committed to your Vision, no matter the obstacles.
Don’t miss this opportunity to learn from Logan Stout’s wealth of experience and wisdom. Register now to secure your spot for this transformative webinar on visionary leadership! Whether you’re an aspiring leader or an established one, this event will equip you with the skills and mindset needed to make your Vision a reality.
Register now and set yourself on the path to becoming a visionary leader.
About the Speaker:
Logan Stout is an accomplished business owner having generated billions of dollars of revenue throughout his career. He is a philanthropist, entrepreneur, best-selling author, keynote speaker and leadership trainer who has made regular appearances on all forms of major media outlets: TV, Magazines, Radio, Podcasts and more.
He has been endorsed by Hall of Fame athletes including Troy Aikman and Pudge Rodriguez, renowned entrepreneurs Barbara Corcoran and Daymond John from ABC’s Shark Tank, Success Magazine’s Darren Hardy, Zig Ziglar’s son and CEO of Ziglar, Inc. Tom Ziglar and many more spanning a wide range of professions.
Opinions expressed by Entrepreneur contributors are their own.
Change. If talk of it has been swirling around the water cooler, people on your team probably have questions. When will the shift happen? Who’s going to be most involved? What does the change mean for specific roles? While each of these questions matter, perhaps no question is more critical than this: Is the company ready?
Plenty of businesses throw this question into a lake, distracted by competitive pressure, the whims of egotistic leaders or the desire to stay comfortable. But it’s by facing the question that the business can devise a regret-free game plan.
Committing to transformation
Although headlines in the news might have left workers uneasy about the idea of company changes, companies have a choice about whether they want to transform or not. In fact, they have three choices: stay the course, evolve or disrupt.
Staying the course typically means growth of 0-3%. Popular retailer TJ Maxx sits in this category. Their brick-and-mortar approach and support of different brands has been effective for them. Companies that evolve see growth between 2 and 5% — consider the NASCAR pitstop today (21 people, 12 seconds) versus the pitstop of the 1960s (4 people, 5 minutes and 38 seconds). Disruption happens when growth is more than 5%. But that takes challenging the status quo, bringing the company’s core capabilities into new, auxiliary or complementary markets, and offering clients new and different things. Netflix, one of the most well-known disruptors, changed the entertainment game with streaming video services.
Disruption or transformation is like a chocolate brownie. It’s easy for people in a company to say they want it — but are they willing to do what it takes to make it from scratch? It’s tougher to actually execute, so companies have to be willing to commit. To get that commitment, they need first to check for a solid market opportunity, develop and communicate a shared vision, and then ask, “Are we ready, willing and able?” If the company has a good attitude of buy-in around the opportunity and workers have the skills necessary to execute, the business can often successfully transform.
Assuming a business is ready for transformation, it should look at eight distinct pillars to make the change happen:
1. Leadership. Are enough people willing to accept responsibility to organize people toward the common goal? A company might need as many as 100-150 champions on the team who can show others why the company is doing things differently. Build out the leadership team so there’s a good mix of homegrown and outside talent that can create healthy debate.
2. Culture. What do people want the company to be? What’s the gap between that vision and where the company is right now? Initially, our team’s culture was a high-touch service where workers aimed to do anything for the client. Now, we’re striving to be more innovative. We actively work against fixedness and apply the broken window theory — i.e., the idea that little things can make a big difference.
3. People. Do people have the right attributes and skills necessary for the transformation? Don’t be surprised if there’s some variance. Typically, just 20% of people readily conform, 60% are the neutral majority and 20% need some proof or encouragement before coming on board. Companies can address skills gaps in lots of ways, but we introduced a program called Learn IQ, where any employee in the company can take a micro-credential program at any university.
4. Systems. Does the company have a scalable system model in place? Without one, the business will bring clients in the front door only to have them run out the back. We went from 289 units on the road in 2018 to 30,000 units in 2022 by taking a very systemic approach.
5. IQ. Can people interpret the core, adjacent and macro signals available (e.g., interest rates)? Can they execute logically? When we decided to do the last mile, we intentionally decided not to try to please everyone because we had something to learn and wanted to get better at it. We focused on market entry, expansion and diversification and didn’t bring in other clients until we knew our first clients were satisfied.
6. EQ. Does the company know when to hit the gas versus the brakes? During Covid-19, we took a high EQ approach, stayed cool and focused on what we needed to do. As a result, while the overall industry dropped 17%, our team went up 38%. Any team can look into implementing this during moments of tension or stress.
7. Flexibility. Does the business see challenges and opportunities with a willingness to fail? In mobility, we started in Class 1. Now, we go all the way through Class 8. We were willing to try franchising and then pull out when that didn’t work.
8. Fearlessness. Every team has fears, uncertainties and doubts. Is the team willing to face those and stare them down? Many times, we don’t have data or know something is going to work. But we encourage people to try things out and fail fast because we know bold actions create new opportunities. Betting on young leaders is one way we’re committed to being fearless.
In many companies, staying the course or undergoing gradual evolution is the right decision. However, a business needs to be constantly assessing circumstances and goals. The team might find that, at a certain point, changing is the right move to make. Once they are ready, willing and able to take the transformation on, success depends on the company stepping up to all eight transformation pillars. If the business can hit repeat on that sequence over time, it can continue to meet customers’ demands for generations and enjoy long-term competitiveness.
Vivek Ramaswamy is the latest entrepreneur pivoting to politics. The 2024 Republican presidential candidate is one of a long list of business leaderswho have run for President of the United States.
And some have even won. Entrepreneurs are no strangers to the Oval Office—at least eight former U.S. presidents have taken their business backgrounds to the highest office in the land—from Donald Trump’s real estate business to Jimmy Carter’s peanut farm.
Ramaswamy, 38, is also garnering attention because he is one of the wealthiest people ever to enter the race.
Here’s more about Ramaswamy’s business history, plus other entrepreneurs who have tried to take on the presidency.
Photo by Win McNamee | Getty Images — Republican presidential candidate, Vivek Ramaswamy, participates in the first debate of the GOP primary season on August 23, 2023, in Milwaukee, Wisconsin.
Who is Vivek Ramaswamy?
Vivek Ramaswamy was born on August 9, 1985, and raised by Indian immigrant parents in Cincinnati, Ohio. He excelled in tennis and was nationally ranked in his youth. He was also valedictorian of his high school senior class,per Business Insider.
He graduated summa cum laude from Harvard University with a degree in biology before earning a J.D. from Yale University.
During his studies, he worked at QVT Financial LP as a hedge fund investor specializing in pharmaceutical investments, making $7 million in his first seven years in the workforce, according to Forbes. He was made partner by age 28 while studying at Yale.
Around the same time, he met his wife, Apoorva, a throat surgeon and assistant professor at the Ohio State University Wexner Medical Center. The couple wed in 2015 and live in Ohio, raising their two sons.
What are Vivek Ramaswamy’s businesses?
Ramaswamyleft the hedge fund in 2014 and founded Roivant Sciences, a biotech company, at age 29. Roivant received backing from Ramaswamy’s former employer. It operated by purchasing patents from pharmaceutical companies that had not been fully developed to then develop and market the products.
The companyand its subsidiariesmade billions under this business model, per The Wall Street Journal.
However, the business hit rough waters when it purchased an experimental Alzheimer’s drug in 2014 for $5 million, per The New York Times. The drug failed clinical trials, and Roivant discontinued development in 2017, according to Insider.
Today, Roiviant is focused on developing drugs for psoriasis and dermatitis, according to its website.
Roivant went public in 2021, and Ramaswamy stepped down as CEO shortly after. That same year, he alsopublished a book, “Woke Inc.: Inside Corporate America’s Social Justice Scam” with Center Street, an imprint of Hachette Book Group. It was a New York Times Bestseller.
In 2022, he founded Strive, an asset management firm with big-name backers (Peter Thiel, Bill Ackman). In September, the company hit $1 billion in assets, according to Bloomberg.
What has the reception been to Ramaswamy entering the race?
Heading into the second Republican debate Wednesday evening,Ramaswamy is in second place, polling around (13%) in the latest survey of likely GOP primary voters in New Hampshire, per CNN.
Former President Trump is the first choice, polling at 39%.
Ramaswamy’s numbers have skyrocketed since the first debate, but his run so far hasn’t been without some controversy. He was booed at the first 2024 Republican presidential primary debate for stating: “The climate change agenda is a hoax.”
Last month, Eminem had his team at BMI send a cease-and-desist letter to Ramaswamy’s campaign after the candidate used the rapper’s hit 2002 song “Lose Yourself” at the Iowa State Fair in August.
This year, two former Stive employees sued Ramaswamy for allegedly making staffers violate securities law and mistreat their fellow coworkers, according to Bloomberg. One suit filed in June alleges that Ramaswamy exaggerated the company’s finances to employees and investors. The other suit filed in August claimed the plaintiff was fired for raising concerns about sexual harassment and age discrimination.
What is Vivek Ramaswamy’s net worth?
Ramaswamy’s net worth is just under $1 billion, making him one of the youngest almost-billionaires in the country and one of the wealthiest Republican nominees, per Forbes.
His fortune is comprised of a 10% stake in Riovant, valued at $600 million. Additionally, the company has paid him $260 million from his salary and other bonuses. His stake in Strive is reportedly worth $100 million. He also has an investment portfolio with various crypto investments.
Meet some other entrepreneurs who have run for President of the United States:
Michael Bloomberg
Photo by BRYAN R. SMITH/AFP via Getty Images | Former New York City Mayor Michael Bloomberg on September 13, 2023 in New York.
Founder of Bloomberg LP.
He was elected mayor of New York City in 2001 and held office for three consecutive terms.
Photo by Ed Lallo/Bloomberg via Getty Images | H. Ross Perot, co-founder and chairman emeritus of Perot Systems Corp., stands for a photo in his office in this file photo taken on Sept. 28, 2008.
A Dallas computer billionaire, Perot founded Electronic Data Systems.
Ran as an Independent in 1992 — won 19% of the popular vote, the most ever for an independent candidate.
Had a net worth of $4.1 billion at his time of death in 2019, per Forbes.
Steve Forbes
Photo by Patrick McMullan/PMC via Getty Images | Steve Forbes on April 7, 2022, in New York City.
Editor-in-chief of Forbes magazine.
Ran for Republican presidential nominee in 1996 and 2000.
Image Credit: Courtesy of Goldbelly. Bartolini’s Pizza.
Image Credit: Courtesy of Goldbelly. 
Valqari, LLC
ViCardia Therapeutics, Inc.
AllSides Technologies, Inc.
Franklin Junction, Inc.
Making Space (Zetta, Inc.)
NuvOx Pharma, LLC
SeeMedX, Inc.
Alyve Medical, Inc.
Data Safeguard, Inc.
iCover, LLC
Ready. Set. Food! (Prollergy Corp.)
RemotelyMe (Aretanium Executive Group, Inc.)
Novuson Surgical, Inc.
OneFul Health, Inc.
Opus Medical Therapies, LLC
WedFun, Inc.
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