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Tag: Entrepreneurs

  • Entrepreneur | ‘You Have to Learn How to Say No’: The Founder of the ‘World’s Best’ Whiskey on What It Takes to Be a Real Leader

    Entrepreneur | ‘You Have to Learn How to Say No’: The Founder of the ‘World’s Best’ Whiskey on What It Takes to Be a Real Leader

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    Opinions expressed by Entrepreneur contributors are their own.

    The long and winding road to success is filled with challenges and stumbling blocks. There’s so little room at the top — and the climb to get there can change people. A once powerful visionary bends to the will of his or her investors, losing sight of his or her narrative and purpose in the name of profitability. It’s a common story.

    But Fawn Weaver, CEO of Grant Sidney Inc. and Uncle Nearest Premium Whiskey, took the road less traveled by, and that has made all the difference.

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    Nicklas Balboa

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  • Entrepreneur | What’s on Entrepreneur TV This Week

    Entrepreneur | What’s on Entrepreneur TV This Week

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    Entrepreneur TV’s original programming is built to inspire, inform and fire up the minds of people like you who are on a mission to launch and grow their dream businesses. Watch new docu-series and insightful interviews streaming now on Entrepreneur, Galaxy TV, FreeCast, and Plex.

    This week be sure to watch episodes of:

    Never Settle (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

    This Week’s Featured Show!

    NEVER SETTLE is a critically acclaimed production that has been recognized with an Emmy Award win for “Best Interactivity,” an Emmy Award Nomination for “Best Program Host,” a Digiday Publishing Award nomination for “Best Use of Facebook Live,” a Webby Honoree Award for “Social: Experimental & Innovation,” and an award for “Best Live Show” from the International Academy of Web Television Awards. Mario combines entertaining information and interviews with actionable advice and takeaways for creators to propel forward with their personal and professional goals.

    Episode 201: Have you ever wondered what you could do to ensure you’re bringing value to your community? Have you ever thought about how you could improve your community engagement? And what do you think about your branding? How can you market and monetize your brand? Today, we’re joined by Nicky S, and she’s here to shed light on all your questions regarding personal branding!

    Episode 202: The personalized T-shirt industry is growing exponentially. In this episode of the Never Settle Show, I talk to Kalilah Wright, CEO of Mess In A Bottle, about how to monetize your merchandise, grow your apparel business, find the right talent to work with, and how shoot your shot.

    Episode 105: Life is a hustle. We live on automatic 24/7. We’re all doing so much more with a lot less, but somehow we’re getting it all done. But instead of living in our lives, we’re living in the hustle—the chaos, the craziness. But we can find balance by embracing the MINDFUL HUSTLE. It’s a whole new perspective on living your life.

    Uncensored Crypto (Sunday, Tuesday, Thursday, Saturday)

    UNCENSORED CRYPTO delivers information about Bitcoin and other cryptocurrencies, Web3, the blockchain, DeFi, NFTs, and more. Host Michael Hearne interviews the disruptors at the forefront of the crypto revolution shaping our economic, financial, and political future.

    Episode 101: How the carnage of the 2008 financial crisis birthed a new type of monetary system and how this revolutionary new system works for you.

    Start Up (Sunday, Tuesday, Thursday, Saturday)

    START UP offers its viewers an up-close and personal look into the world of the modern American entrepreneur.

    Episode 601: Daniel Rose wanted to help people, so he left health care, found a plot of land in northeast Tulsa, Oklahoma, and opened Grassroots Ranch. Daniel and his wife Maria provide old-fashioned, all-natural foods using sustainable farming methods.

    Chicago CEOs (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

    CHICAGO CEOs, have you sat down with Chicago’s top CEOs as they discuss what brought them success?

    Episode 101: Bigger than the internet? Why Bitcoin’s underlying technology was as disruptive to the web in 1995 and how it will transform almost every aspect of society, whether you invest or not. A simple breakdown of the Blockchain and why it’s the only way to restore our freedom and our sovereignty and escape “surveillance capitalism.”

    Burt’s Buzz (Monday, Wednesday, Friday)

    BURT’S BUZZ looks at the world of Burt Shavitz, the face, and co-founder of Burt’s Bees.

    Movie: Journey into the remarkable double life of Burt Shavitz, a reclusive beekeeper who reluctantly becomes one of the world’s most recognizable brand identities.

    Mindvalley Talks (Monday, Wednesday, Friday)

    MINDVALLEY TALKS brings you the best personal growth video content from the most brilliant minds on the planet.

    Episode 102: How can you take the message you have and present it to your community (be it in your personal life or business) in a way that allows them to connect and engage with what you have to share?

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    Entrepreneur Staff

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  • Entrepreneur | ‘Bias Is a Business Killer,’ Says the Co-Founder of the Largest Black-Owned Wine Company in the U.S.

    Entrepreneur | ‘Bias Is a Business Killer,’ Says the Co-Founder of the Largest Black-Owned Wine Company in the U.S.

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    Opinions expressed by Entrepreneur contributors are their own.

    I love sparkling wines, and I recently discovered the McBride Sisters Wine Company and this particular bottle: Sparkling Brut Rosé. I’ve become obsessed. I brought my new favorite bottle to dinner parties, opened it when I had guests over and gifted it to a girlfriend. My friends like the wine as much as I do.

    “My curiosity for wine started as a child,” says Robin McBride, co-founder and president of McBride Sisters Wine Company. “I can recall trying to ferment Welch’s grape juice in baby bottles under my bed! My sister and I always had a passion for wine that we wanted to share with the world, in an industry where very few people looked like us.”

    The size of the U.S. wine market is approximately $63.69 billion, with an expected compound annual growth rate (CAGR) of 6.8% (from 2022 to 2030). The sparkling wine segment, my favorite, is predicted to grow the fastest at 7.7%, driven by prosecco and Champagne.

    Enter the McBride Sisters Wine Company, which the sisters founded in 2005 in California, first as importers and then as wine-makers. Its collection of still, sparkling — and canned — wine has taken the industry by storm in recent years.

    Robin McBride and her sister Andréa McBride John co-founded their company in an industry that has notoriously lacked diversity of representation. “About one percent of one percent of all winemakers are Black,” Phil Long, president of the Association of African American Vintners (AAAV), said in an interview with Wine-Searcher. “If you’re looking at winemakers and brand owners overall there are over 50, but if you’re looking for African Americans who are both the winemaker and the brand owner, there are just a few dozen.”

    Image credit: McBride Sisters Wine Company

    The McBride Sisters have ignited the movement to change that. “My sister and I are on a mission to transform the industry, lead by example and cultivate community,” Robin McBride says. “One delicious glass of wine at a time.”

    Here are the three most important lessons McBride and her sister have learned as they’ve built the largest U.S. Black-and women-owned wine company:

    Related: “I Am Not a Diversity Quota,” Says the Founder Disrupting the Dessert Category

    Stop thinking money will solve everything

    McBride has always been a problem-solver. As a child, she loved to take things apart and put them back together. She also recalls asking a lot of questions. “I got on everyone’s nerves,” she says. “I was always on a mission to find out the why and seek out solutions.”

    Now as co-founders, the sisters are always in problem-solving mode. On their journey to build the company, they have been under-resourced and understaffed. The pandemic was another reminder that money won’t solve everything. “We can’t pay to play in our industry. The other players are just too big and will always outspend us,” McBride says. “During the pandemic, we needed to innovate around ways to engage our consumers. We created a free online wine school on Facebook and filmed modules from home, and it didn’t cost us much more than our time. We not only engaged our community but grew it [by providing] useful content.”

    Related: This Founder Went to Prison When He Was 15 Years Old. That’s Where He Came Up With the Idea for a Company Now Backed By John Legend.

    “Bias is a business killer”

    The sisters’ road to building their business hasn’t been easy. “There is an immediate lack of credibility you can feel from investors who are skeptical of your success as a Black woman founder, because you must be an anomaly,” McBride says. “Hundreds of questions come your way. Who actually owns the company? Who makes your wine? Do Black women even drink wine? Bias is a business killer.”

    Early on, an investor actually recommended that the sisters get a white man as a partner to help them raise money. But the sisters wouldn’t give up; they would not be ignored. “We are great business leaders, and we know our consumers,” McBride says. “Eighty percent of wine purchases are made by women. And yes, despite what some of those investors thought, Black women do drink wine.”

    Today, the McBride Sisters Wine Company employs 51% people of color and 93% women, which includes an all-women winemaking team.

    Related: This Filipino American Founder Is Disrupting the Beverage Aisle by Introducing New Flavors to the Crowded Bubbly Water Market

    Celebrate and give back

    In 2019, the McBride sisters were invited to the Essence Festival, and they were asked to join the mayor of New Orleans on stage at the opening party. They decided to make a wine to commemorate the moment and called it Black Girl Magic Riesling. They made fewer than 100 cases for the event, and the demand was enormous. The sisters weren’t prepared for how well it would be received.

    “People really loved the wine,” McBride says. “For my sister and I, it was an opportunity to celebrate our culture and community, to honor Black women. Because for far too long, the industry has not catered to us as consumers, and it was important to us to create a line of wines for us as a community that can be enjoyed by everyone.”

    The McBride sisters continue to push beyond all barriers to provide customers with a wine that represents their culture, their story, their likes and their celebrations. “This collection is inspired by and is meant to celebrate the incredible Black women in our family, our community, and everyone who celebrates them,” McBride says. “It’s our opportunity to give back to so many Black women who continue to support us.”

    Related: This Baker Was Told Not to Speak Spanish With Colleagues, So She Started Her Own Cake Company That Values Employees Just As Much As Customers

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    Mita Mallick

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  • Entrepreneur | Here’s Why Learning to Say No Can Skyrocket Your Business

    Entrepreneur | Here’s Why Learning to Say No Can Skyrocket Your Business

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    Opinions expressed by Entrepreneur contributors are their own.

    Many business owners may find it counter-intuitive to believe that saying “no” could lead to business growth. However, it can be one of the most important strategies for achieving success and long-term sustainability. By being selective in what tasks and projects are taken on, companies can free up valuable resources to focus on the most important opportunities and create an environment of success that most definitely led to business growth.

    1. Say no to unnecessary expenses

    In today’s competitive marketplace, cutting costs is essential for companies to survive or achieve business growth. Saying “no” can be a powerful tool in helping businesses reach their goals while saving money and having a better cash flow. When it comes to lower-cost operations, learning how and when to say “no” may be one of the most important lessons a successful business chief must master.

    Cutting back on expenses can drastically reduce overhead and increase profitability, but making this change means investing time into analyzing which costs are truly necessary for long-term sustainability versus those that are no longer required or affordable in the current climate. For example, having the courage to say “no” to your suppliers might lead to improved cash flow, decreased debt, and financial freedom over time. And as business owners, you’ll have to learn how to do it sooner or later so you better start right away.

    Related: How to Set Boundaries as an Entrepreneur

    2. Say no to job candidates who don’t fit your business — even during a talent shortage

    Poor staffing decisions have a major impact on the success of any business. Low-quality employees can cause decreased productivity, and when it comes to running a business, time is money. Therefore, it’s essential to make sure you hire the right people who are capable of delivering quality results in an efficient manner. By saying “no” to inadequate staffing decisions, you can ensure that your team is equipped with individuals who understand their roles and possess the necessary skill set to get the job done right. Properly staffed teams help improve performance and quality of work output while reducing costs associated with employee training or mistakes due to inexperience. In addition, having staff members with good morale helps create a positive work environment which further boosts productivity levels and contributes positively towards growing your business.

    Many entrepreneurs and company owners tend not to give proper attention to the importance of employees in their company. Still, many studies in recent years show that employees who are satisfied and engaged at work are employees who, in practice, bring higher productivity and higher income to their company and take an active part in the company’s growth. There is no magic formula for finding such employees, but one thing is certain: We must give great importance to recruiting personnel in our company.

    Our employees must be suitable and have the right skill set for the job they were hired for. It’s a win-win situation; the employees are satisfied at work, feel appreciated and valued, have a positive impact and are more involved in the processes. When this happens, you can expect an increase in productivity and income. Several years ago, a study examining companies with a low percentage of employee engagement versus a high percentage showed that high employee engagement in companies resulted in a 10% increase in customer positive ratings, a 22% increase in profitability and a 21% increase in work productivity. With such data, it is not worth arguing. Learn to say “no” to mediocre personnel, bring in employees with appropriate skills and give them the right conditions for growth. Their success = your success.

    3. Say no to (some) tempting business deals

    Knowing when to say “no” is an essential skill for any business owner. Refusing the wrong opportunities or deals can spell trouble, but so can saying “yes” to the wrong ones. Learning to keep sharks at bay, literally and figuratively, is always a good idea. Sharks in the water are a danger but don’t be fooled by sharks on land who want to buy out your company or offer you a bad deal; pay attention to them as well.

    Remember, sometimes the best deal is to remain independent and make your own decisions on the direction of the business rather than rely on advice from those you do not know or can’t be 100% trusted. Your fear is natural — we all have a fear of change in a way — but it doesn’t make it a good enough reason to say “yes” to the first competitor or investor trying to get you out of the game. Saying “no” and refusing such a serious offer should be carefully considered, but under the right conditions, the refusal may lead to greater business growth; now that you know people are interested in your activity, it may be a huge motivational shot for you and your entire staff down the road. In addition, the refusal may signal to potential buyers and other sharks that you value your company and operation at a higher value.

    Related: Why Setting Boundaries Is the Secret to Preserving Energy and Focusing on What Matters

    Take, for example, the navigation app Waze; the company received low bids early on and thought it was worth more. Later, very good offers came; according to the reports on various news sites, Apple offered about $500 million to buy Waze. What was Waze’s answer? You guessed right — the answer was “no.” Then Facebook made a very generous purchase offer of $1 billion. Waze company bravely said “no” once again. Then few offers were bid by Google, and the last one reportedly ranged between $1.1-$1.3 billion. This time Waze took the offer with both hands and achieved a very impressive high-tech exit. I can’t guarantee that the Waze example will work in most cases, but it’s a real example of why you must know when to say “no” even when the temptation is overwhelming.

    Saying “no” helps open up growth opportunities, and learning when to say no is a powerful tool that can help unlock potential for growth within the organization. The ability of a business owner or team leader to recognize their capacity is essential in order to turn down certain tasks and projects that may take away from the main objectives of their business, creating a more productive environment and happier employees, etc. A clever entrepreneur will know when it’s time to balance between saying “yes” and flowing with the river to taking risks and taking advantage of opportunities they can handle and convert into a business growth opportunity.

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    Barak Jacques

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  • Entrepreneur | 15 Tips to Create Good Habits and Actually Keep Them

    Entrepreneur | 15 Tips to Create Good Habits and Actually Keep Them

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    Opinions expressed by Entrepreneur contributors are their own.

    What if everything ran on autopilot? This includes chores, exercise, healthy eating and completing your work. They just happen on their own. The problem is that unless they invent robots, all your work won’t disappear overnight.

    It is possible, however, to create a new habit that requires little effort to maintain, with a little bit of initial discipline.

    What are habits?

    Before going on further, let me quickly explain what habits are.

    In short, habits are learned behaviors that become reflexive over time. In many cases, a specific context triggers the behavior. After eating breakfast, for instance, you may brush your teeth automatically.

    There are three types of habits: healthy, unhealthy and neutral. For example, taking ten minutes a day to stretch or meditate when feeling stressed can be classified as a healthy habit. An example of an unhealthy habit would be smoking a cigarette whenever you’re stressed. Taking the same route to work or eating the same breakfast each morning are neutral habits.

    A habit is a learned behavior, whereas an unconscious behavior, like breathing or blinking, does not count.

    Related: 3 Things That’ll Make You a Master of Forming — and Keeping — Great Habits

    What’s the difference between habits and routines?

    A habit is different from a routine because you’re aware of it. In other words, habits are repeated actions on autopilot, whereas routines are planned.

    Unless you practice routines deliberately, they will eventually disappear. Habits, however, are formed unconsciously.

    Intention and effort are necessary for gratitude practice, for example. It won’t run automatically. Exercise is no different. Exercising isn’t going to happen by itself. You will, however, grab a cigarette on autopilot if you have the habit.

    To become a habit, a routine should be carried out without conscious thought. For example, say you begin your morning routine by drinking green juice. You can consider it a habit when you start making your juice daily without thinking about it.

    How are habits formed?

    The majority of habits begin as intentional, goal-directed actions. As an example, a parent may instruct a young child to wash their hands before eating. In the beginning, a child may only wash their hands to get praise from their parents. It is possible that they need a reminder every time they eat to do the task.

    In time, the child will get used to the washing routine and no longer need reminders. Even if the parent doesn’t reward the behavior, the child will wash their hands before meals. Because the behavior is driven more by context than concrete rewards, it can be described as a habit.

    It is possible to think of habit formation as the creation of a mental shortcut. For example, a child must take many steps to wash their hands before dinner. To wash their hands, they need to go to the sink, turn on the water, lather on soap and then dry them off. Once the habit forms, the brain begins to group these steps together as a single “chunk.” To put that another way, it interprets these steps as a single behavior.

    The good thing about habits? They can save your mental energy. For you to focus on more complicated choices, you may save energy if you repeat certain behaviors automatically. The problem with reflexive behavior is that it is harder to notice and stop them. It can be hard to interrupt habits such as nail-biting at the moment since the brain identifies them as one action.

    Now that you have more clarity on what habits are, how they’re formed and the difference between habits and routines, here are a few tips to help you develop good habits and keep them:

    1. Choose an easy habit that you will not be able to resist

    “The most important part of building a new habit is staying consistent,” says James Clear, author of Atomic Habits. “It doesn’t matter how well you perform on any individual day.” Consistency is the key.

    Because of this, new habits should be so easy that you cannot resist them.

    • Would you like to build a habit of exercising? Today, you will exercise for one minute.

    • Do you want to get into the habit of writing? Make a goal of writing three sentences today.

    • Want to start eating healthy? This week, you should eat one healthy meal.

    “It doesn’t matter if you start small because there will be plenty of time to pick up the intensity later,” Clear adds. “You don’t need to join a CrossFit gym, write a book or change your entire diet at the very beginning.”

    “It’s easy to compare yourself to what others are doing or to feel the urge to optimize your performance and do more,” he says. “Don’t let those feelings pull you off course.”

    Demonstrate your ability to stick with something small for 30 days. After you are consistently on track, you may want to increase the difficulty. Performance is irrelevant at the beginning.

    Related: The First Step to Creating Healthy Habits Is Smaller Than You Think

    2. Think positively

    When you decide to develop good habits in yourself, staying optimistic is one of the most essential elements. In addition to helping you overcome negative feelings, positive thinking enables you to deal with stress effectively.

    In order to think positively, you do not ignore all the unpleasant things in life and carry on with your daily activities. Instead, you react positively to them all.

    If you think mostly negatively about changing your habits, you will have a hard time adopting the new, good one. But, on the other hand, it is easier for your mind to accept something if you view it positively.

    So, instead of focusing on the negative, be positive. Remember, with the right attitude, the sky’s the limit.

    3. Reduce triggers and cravings

    Find out which people, places and activities are connected with bad habits in your mind. After that, you should change how you behave toward them.

    Those with shopping addictions should avoid shopping malls, for example. Also, when your friends take a smoke break, don’t go outside with them if you’re trying to quit.

    There is also a link between chronic stress and poor behavior. As such, managing your stress levels will help you avoid triggers.

    In the same way, cravings are driven by a desire to change your internal state of being. In other words, you can reduce cravings by identifying how you want to feel. Then, once that feeling is achieved, take an action that is healthier.

    Instead of smoking when you want to relax, take a bath. Rather than drinking your third cup of coffee, eat a banana when you need energy.

    4. Do it every day

    Researchers from the University of Bristol investigated how people form habits in the real world, asking participants to take a walk before dinner or drink water at lunch. In the study, published in the European Journal of Social Psychology, it was found that it took 18 to 254 days for a task to become automatic. However, the median time was 66 days.

    What is the lesson? Creating habits takes time. The more often we practice them, however, the quicker they become, so start with something little and simple.

    For example, it’s more effective to do a small amount of exercise every day, rather than trying to go to the gym thrice a week to stick with an exercise habit. Then, as you become accustomed to daily exercise, you can begin exploring more intense forms.

    5. Swish – a technique from NLP

    Swish Patterns are used to break unwanted habits and limiting behaviors. In this method, you imagine a situation that is undesirable or triggers you, as well as a version of the situation that would result in a perfect outcome. After that, you swish the two images so that the desirable one occupies more mental space.

    The first thing you need to do is visualize yourself doing a bad habit. After that, visualize yourself letting go of the bad habit and taking on a new one. Then end that sequence with a highly positive image of yourself.

    Think of how you would feel if you picked up a cigarette, put it down and snapped your fingers. Last but not least, visualize yourself running and breathing freely. You should repeat the process a few times until the new habit becomes automatic.

    Related: Form Lasting Habits Using These 4 Strategies

    6. Make the habit fun to repeat

    Most of us overestimate our willpower when trying to build a new habit and set a course for the most efficient method to accomplish our goal. For example, suppose you want to become fit through regular exercise. In most cases, you’ll look for workouts that yield quick results, such as running on a treadmill.

    However, research suggests that finding ways to make goal pursuit fun will help you persist longer and ultimately accomplish more.

    For exercise, this might mean going to Yoga or Zumba classes with a friend, hiking or joining a team sport. For those trying to eat more fruits and vegetables, smoothies can combine multiple servings of fruits and vegetables in one tasty drink.

    Overall, a positive experience is critical to habit formation. But it’s often overlooked since repetition is key to sticking with something you enjoy.

    7. Consider failure while planning for success

    Again, it takes time to build a new habit, so don’t expect success overnight. A good habit could require many failures before you become habitual.

    As a result of your guilt after your failure, you may stop incorporating that good habit into your daily routine. A solid plan, though, will make it easy for you to get back on track quickly.

    You should remember that slipping up is not a failure. It’s a normal part of the process. However, to develop good habits, it’s important to have a plan for dealing with failure. So, make sure you don’t start building a good habit without a plan.

    8. Motivate yourself intrinsically

    There are two things you need to believe to build intrinsic motivation:

    • First, as long as you act according to your own preferences, you have the freedom to do so.

    • The work you do will make you a better, more knowledgeable person.

    It is essential to learn how to deal with negative emotions to believe these two things. Additionally, you’ll need a way to measure your progress. After all, progress is an important motivator. The simplest method is to write it down and stick it on your mirror. Writing in a journal or creating a more detailed spreadsheet might also be options.

    9. Make sure you’re flexible

    As soon as we put something on autopilot, we fall into pretty consistent routines, exercising, studying or taking our medication at the same time and place every day. However, research suggests you should deliberately introduce some variability into your routine when you’re just beginning to form habits.

    There’s still no substitute for having a first-best plan. For instance, establish a mindfulness habit, perhaps meditating at 7:00 a.m. every day. Likewise, you should also consider mixing in a meditation session around and another at 6:00 p.m.

    As you recall, it’s essential to repeat a behavior frequently to build a habit. However, the less brittle your routine becomes, the less likely you will follow through. If you have a flexible habit, you can still accomplish what you need to, even when things go off track. For example, let’s say that a traffic jam prevented you from meditating in the morning; you can still practice mindfulness at noon.

    The key to being flexible is to provide yourself with “emergency reserves.” You’ll have these cards on hand for those days when you can’t meditate, for instance. Think of them as your Get Out of Jail Free card in Monopoly.

    A challenging goal, like meditating daily, for instance, can motivate you more than an easier one. But if you miss multiple targets, it can be demoralizing. If an emergency arises, having a few emergency reserves each week allows you to miss a day without losing sight of your goal.

    10. Work on your environment

    Environment plays a huge role in developing good habits. For example, let’s say you decide to eat a clean diet. However, when you open the fridge door, you see all the junk food inside. You’ll have a hard time resisting that, won’t you?

    You will have difficulty getting rid of your bad habits if you do not change your environment. It is, therefore, better to alter your environment according to your goals.

    Related: 5 Ways to Set Good Habits That Actually Stick

    11. Adopt healthy routines

    Good habits are built through lifestyle choices. So, what is the best way to change your lifestyle? By improving your daily routine.

    In other words, take the time to plan out your day and incorporate healthy practices where appropriate.

    Eat vegetables and fruits as soon as you wake up, for instance. Then, you can take a restorative nap during your lunch break. In the evenings, go for a stroll. Just remember to select realistic and healthy practices when choosing them.

    12. Get the social support you need

    Sometimes, this step is overlooked despite being obvious. As you set goals, let your friends and family know about them since they can serve as cheerleaders and hold you accountable.

    Evidence suggests that the behavior of those around us strongly influences our behavior. For example, are you interested in starting a regular running routine? It’s probably better to join a running club than ask a few friends who don’t jog to join you. After all, members of the running club already have the habits you’re looking for. As a result, you’ll learn what works and gain friends who will keep you on your toes when you fall behind.

    If you want to pick up good habits, try hanging out with people who are a few steps ahead of you. However, don’t overextend yourself. The experience of training with marathoners can be disheartening if you only want to improve your 5K speed.

    Overall, it has been shown that socializing with people who are already successful and being inspired by them is crucial for success. The added bonus is that it’s more fun to achieve your goals with the people you like.

    13. Keep a journal

    In general, journaling is considered a good habit. Why? As well as helping you learn from your mistakes and wins, it enables you to improve your ability to communicate.

    You are likely to achieve many victories as well as some mistakes when you implement a good habit into your life. Keeping a journal in which you list all your wins and errors will allow you to easily see all the mistakes at a glance that were not in line with your habits development strategy.

    Furthermore, it can help reduce these mistakes so you can remove obstacles to developing a positive habit and replace it with a negative one. In addition to identifying the obstacles, this method accelerates your habit-building progress.

    14. Set calendar reminders

    It can be hard to remember to maintain a habit at first. As discussed above, habituation takes time.

    One solution would be using an online calendar, such as Google Calendar, iCal, or Microsoft Calendar. With these calendar tools, you can schedule the habits you want to develop. You can also set notifications to remind you when it’s time to start working on a task. And you can even make events that recur monthly, weekly or daily.

    Related: Science Says Healthy Scheduling Habits Make People Happier

    15. Practice self-compassion instead of self-judgment

    The probability of you having a bad outcome is much higher if you think that you can’t do the good habit you want to incorporate into your life. The reason? Because it’s hard. When faced with a difficult task, motivating yourself with a can-do attitude is better than judging yourself.

    Self-judgment creates a sense of guilt and shame because you take responsibility for your mistakes when you are working on them. In turn, you begin to feel guilty and ashamed. Negative consequences often accompany these feelings.

    Because of this, it’s important to think about forming a good habit with self-compassion rather than self-judgment to give yourself some empathy and love, making it easier to do so.

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    John Rampton

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  • Entrepreneur | How to Transition From Corporate Career to Entrepreneurship

    Entrepreneur | How to Transition From Corporate Career to Entrepreneurship

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    Opinions expressed by Entrepreneur contributors are their own.

    The age-old question: Are entrepreneurs born or made? At Brand of a Leader, we work with GenX entrepreneurs, those in their 40s and 50s, and have had the privilege of witnessing both types of founders. On one hand, there are the natural-born entrepreneurs who were running lemonade stands and selling anything and everything to their classmates at a young age. On the other hand, there are those who discover their entrepreneurial spirit later in life, after building a successful corporate career. In fact, did you know that the average age of a new entrepreneur in North America is 40 years old? That’s right, the next big entrepreneur might just be a GenX’er, not a GenZ’er or even a millennial!

    So, if a lot of people are taking the leap into entrepreneurship after hitting the big 4-0, what has their journey been like before then? For many, it is all about climbing the corporate ladder and reaching the executive level, only to then ask themselves, “what’s next?” According to a Gallup study, a mere 13% of people find happiness in their jobs, and the pursuit of happiness may be the spark that ignites a desire for freedom, autonomy and fulfillment through entrepreneurship.

    For some, a corporate career can be draining, with long hours, limited time with family and a struggle to prioritize health, both physically and mentally. But for those who decide to strike out on their own, the pursuit of a better work-life balance is often a key factor. In fact, a study by MBO Partners found that 60% of independent workers cite a desire for a better balance as their reason for self-employment.

    Others may be driven by the desire to make a greater impact. For example, a CHRO leader passionate about DEIB may choose to start a consultancy that implements inclusivity programs for leadership across multiple organizations instead of within their current employer’s organization alone. The decision to become an entrepreneur after a rich and successful corporate career can be fueled by a desire to make a difference on a larger scale.

    At Brand of a Leader, we’ve had the privilege of guiding many entrepreneurs as they make the leap from the corporate world to owning their own businesses. They come to us seeking advice on building a personal brand that sets them apart from the competition. And as you can imagine, we get asked a lot of similar questions. Here are three of the most frequent ones:

    Related: The Step-by-Step Timeline for Going From Corporate Life to Self-Employed Life

    1. Should I use my own name or create a separate brand name for the business?

    The secret to launching a successful business is having a clear vision. If you are looking to sell the business down the road, having a separate brand name may be a good idea. But if you are looking to create a legacy or are pursuing solopreneurship, having two distinct brands — one for the business and one for your personal brand — can give you double the equity (but also double the time investment). Our clients who choose to build their business on the backs of their personal brand, however, enjoy a singular focus and the ability to grow a following without excessive ad spend.

    And here’s the thing — there’s no one-size-fits-all approach. But we do recommend one thing: Don’t neglect your personal brand. People follow people, and a strong personal brand provides visibility, portability and a platform that can help your business while allowing you to pivot if necessary.

    2. Should I wait to work on my personal brand after I make the transition to entrepreneurship?

    Many of you may be concerned that a transition could alienate your audience and force you to wait before making a move. But this is a common misconception rooted in the idea that your personal brand reflects what you do professionally. At Brand of a Leader, we help our clients shift their thinking by showing them that their personal brand is who they are, not what they do. The goal of personal brand discovery is to understand your essence and package it in a way that appeals to others. Your vocation is only one of your key talking points, and when you pivot, you simply shift those points while maintaining the essence of your brand.

    So, when should you start building your personal brand? The answer is simple: the sooner, the better. Building a brand takes time — time to build an audience, create visibility and establish associations between your name and consistent perceptions in people’s minds. Starting sooner means you’ll start seeing results faster. And if there is one thing our post-corporate-career clients regret, it is not starting to work on their personal brand sooner.

    Related: What I Learned Moving from Corporate America to Entrepreneur

    3. What is the difference between the brand of my business and my personal brand?

    As entrepreneurs, it is natural to view our businesses as a reflection of ourselves. But as we work with post-corporate clients to develop their personal brands, we often find that they blur the lines between their personal values and those of their business. When asked about their core values, they may default to listing the values of the company, rather than their own personal beliefs. The same goes for target audience — they may see their business’s target audience as their own.

    This is where we encourage our clients to challenge their thinking and explore the nuances of their personal brand. While it may seem convenient to align your personal brand with that of your business, it is important to consider whether there are values and audiences that are unique to you as an individual. For example, as the Founder of the business “Brand of a Leader,” my target audience is GenX entrepreneurs and CEOs. However, my personal brand also has a secondary audience of immigrants, which may not align with the business’s focus.

    As we encourage our clients to examine the differences between their personal brand and that of their business, we remind them that it is perfectly okay to have a personal brand that is distinct from the company brand. Personal brands can have different values, target audiences and even a distinct brand voice. Embracing these differences can lead to a more authentic and fulfilling personal brand-building experience.

    Related: How to Transition From a Corporate Job to Being an Entrepreneur

    The entrepreneurial journey is not a one-size-fits-all experience. It can be the natural next step for some, a way to escape unhappiness in your current career or a means to make a larger impact in the world. In the words of Mark Zuckerberg: “The biggest risk is not taking any risk.”

    If you are considering entrepreneurship after a successful corporate career, now may be the time to take that leap of faith. Building your personal brand will provide you with the visibility, portability and platform necessary to succeed in your new venture. So, go ahead, take that risk, and turn your entrepreneurial dream into a reality, powered with an inspiring personal brand!

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    Marina Byezhanova

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  • Entrepreneur | Four Things Entrepreneurs Don’t Need, According to This Outdoor Adventurer and Creative Founder

    Entrepreneur | Four Things Entrepreneurs Don’t Need, According to This Outdoor Adventurer and Creative Founder

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    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    My name is L. Renee Blount. I am a professional athlete, (@urbanclimbr on Instagram), and founder of WndrHaus, a full-service creative house where whimsey, brand strategy, production and storytelling meet. We work to illuminate untold stories and rethink the future. Our biggest clients are interested in tapping our passion to showcase joy, flavor and adventure amongst underrepresented groups, as well as go-to-market strategies for campaigns.

    What inspired you to create this business?

    Very simply, my love for the outdoors and the creative realm, and not seeing many of “me” represented out there. Meaning, three things:

    1. A black-owned and women-owned business where I am a rarity in both the outdoor and creative consulting businesses (product and brand specifically).

    2. Ownership to open doors not just for myself in these industries but for others as well. I hire an all-women crew whenever possible for my assignments because I know that in my personal experience, I have been overlooked simply because “a man can carry more equipment” on certain expeditions, where I knew I should have been chosen and could have produced even more amazing content for those companies.

    3. I love the behind-the-scenes action. It’s often not the most famous people who are moving and shaking things. It’s those who are connected and provide a business case as to why it matters. I want to play in this space for a long time. Since my time working in brand strategy & innovation, I rarely have seen people who look like me, which illuminates the structural issues to get here, but importantly highlights. There’s so much room to do really rad and epic things that are different. I bring a different energy and such different perspectives from my peers – and more importantly, an exuberance that I am really proud to take ownership of. I truly believe in what I am doing and want to make sure I’m a gate opener, rather than a gatekeeper.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    I didn’t get to play a ton of sports or camp growing up, but I did attend a high school that was deeply concentrated on the arts, which was instrumental in many ways in getting me where I am now. I pursued a graduate degree in architecture at Harvard, which transitioned into a career as a creative director where I could marry my love for the outdoors and creativity while having an impact in representing the underrepresented through my work and in my community. Because I wasn’t seeing marketing campaigns and ads that reflected me or who looked like my friends, I wanted to change not only that but also make climbing more accessible to people of color who normally don’t have access due to financial limitations or not having the opportunity culturally. I know that I have a special gift for making content more accessible to the everyday person, and showing more joy and flavor in my work.

    What advice would you give entrepreneurs looking for funding?

    It starts with relationships and having a vision. It’s a game of hustle, where I keep learning and maneuvering wherever possible. It’s about being able to learn on the fly, being respectful yet persistent and pleasant, staying nimble with the changes and being willing to fail – but learning how to fail forward. For example, someone with more resources than I do will have a bigger window to fail. For someone with fewer resources, we have to figure out how to make the window of possible failure shorter because you might not have as much fallback. You have to think about what you’ll do if it doesn’t go well, and have a cushion to take a risk like having enough savings and the right timing.

    What does the word “entrepreneur” mean to you?

    Entrepreneurship is leaving a legacy like nothing else. By helping to create a new set of rules, a new playbook, and a new flow that adds to the lexicon of what is happening and how we can progress forward. As an entrepreneur, it means we exist to serve one another, not just our pockets. It is being a steward of trust and decency to your partners. More importantly, you have the ability to hire and uplift others, especially your community, which is powerful.

    Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What is something many aspiring business owners think they need that they really don’t?

    Simply, I went to too much school. As a first-generation student, I thought it was the ticket. With little guidance, I was book-smart and was not cognizant of other avenues. I didn’t know they existed. Hence, I believe in seeking out people to converse with now constantly to illuminate what’s possible and understand much sooner.

    When people ask me about the graduate school path and often ask about Harvard, I really ask what their reasonings are. I ask them about their ROI and what that adjacency will really do for them. For some, it makes sense, for many it absolutely does not, especially if they have a full-ride elsewhere (It also depends on the degree. I don’t believe in going to high debt for lower-income yielding fields). It’s about financial mobility especially when you have access to fewer resources. I could wax poetic on that longer!

    As someone who comes from a single-parent household, I’m filled with gratitude that I’ve been able to navigate this path. It’s been far from easy. There’s a lot I’ve had to do to learn. And THAT I can never regret. Information is such an unlock. Getting coffees with the executives you’d like to be can shave off so much time – and money too.

    Other things you may not need:

    • A grandiose vision: Maybe you want to solve something that’s simple. That’s what it was in my case initially. I didn’t see myself represented out there and because I came from brand strategy & innovation, the solutions seemed obvious to me. And I could speak to it.

    • Lots of voices: Go for it. You may not hear validation for a while and that’s okay if you’ve done your research.

    • Balance: I think it doesn’t exist for many, to be truthful. Enjoy the work and know it does take sacrifice.

    • Debt: I worked a full-time job until I could leave. I had a shorter window of time to take that risk (due to a small fallback), but I tried to make the most out of it when I jumped in head first. If I failed, it was okay. My mom and grandmother knew what it was like to not be supported in taking risks, so they cheered me on. That meant everything.

    More importantly, what you do need is a cheerleader, grit, and hope. You have the ability to take risks.

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    Dan Bova

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  • Entrepreneur | 5 Ways Storytelling Can Make You a More Impactful Leader

    Entrepreneur | 5 Ways Storytelling Can Make You a More Impactful Leader

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    Opinions expressed by Entrepreneur contributors are their own.

    Science shows that our minds are hardwired to tune into stories, and people who can tell the best stories are perceived as more attractive. The ability to tell a compelling story offers a subtle way for entrepreneurs to shift others’ thinking and make a genuine impact in the world. Great storytellers sweep us into their milieu, motivate us to take action and inspire us to become more than we are.

    Here are five ways that learning the art of storytelling can help you positively influence the world around you:

    1. The authentic nature of your stories builds trust

    You don’t have to think of yourself as a storyteller or a “creative” to make an impact. Whether you realize it or not, you have spent your entire life creating stories and images of other people. In fact, your whole perception of reality is just the story your brain has created for itself.

    This is the natural, usual way for humans to think. Our brains are wired to develop a seamless story about the world, so you already have decades of unconscious practice telling convincing, intricate stories.

    You don’t have to “force it” to be a compelling storyteller. Simply practice talking about your life. Learn how to distill the most valuable details and, above all, remain authentic. Your audience will be able to sense the truth of your stories and feel like they can trust you.

    Related: Why Storytelling Is a Skill that Every Entrepreneur Should Practice

    2. Your stories help make deep, lasting connections

    Even if you aren’t directly speaking about your values, vision or principles, the stories you tell can, in turn, tell the world all about who you are. Your stories will help you connect with people from all different places, generations and lifestyles because they will resonate deeply.

    For example, people who consistently read stories from a particular person begin to feel personally invested in the author’s life. They feel as if they know the author and want to get even closer. Meaningful, lasting connections can quickly grow from these types of relationships.

    3. You build a community of like-minded people

    Stories are able to bring together people who share a common thread with you and each other. Having authentic, engaging stories is the perfect foundation for an impactful, tight-knit community because it imparts new information and allows your audience to imagine themselves in that role and feel more connected and ready to act.

    One well-known example of this is Nasty Gal founder Sophia Amoruso’s community of supportive, empowered women that all came together as a result of her sharing an honest memoir that recounted her journey as an entrepreneur, author and woman blazing her own path through the world of business.

    Chris Dixon at Andreessen Horowitz, a partner of prominent venture capital firms in Silicon Valley, is another example. He is arguably the most sought-after venture capitalist in the crypto scene, so startup founders devour his writings and would follow his advice. Dixon’s influence helps him to attract the most lucrative and promising startups and to be dubbed the world’s top crypto investor by Fortune and other business magazines. Another investor, Paul Graham, has become an idol in the American startup scene not only by co-founding Y Combinator but also through his industry-related and philosophical writings on his website and Twitter (Graham has over 1.6M followers).

    Related: Stories Are Entrepreneurs’ Most Powerful Tool. But What Ingredient Gives Them Power?

    4. Your stories are your legacy

    If nothing else, think about this: The only story the world knows about you is the one you’re telling. That old saying, “If you want something done right, do it yourself,” also applies to the story you leave behind.

    In his book, Yours Truly, longtime Wall Street Journal obituary writer James R. Hagerty wrote, “Someday, your life story is likely to be boiled down to a few lines. If you leave things to chance, your obituary is almost sure to be solemn, formulaic and full of errors — an obligatory final chapter written in haste by others.”

    To avoid this, start preserving your personal story as soon as possible. Record your experiences, insights, feelings and inner voice as a way to not only build a worthwhile legacy but also get to know yourself on an even deeper level.

    Developing your story also helps you reflect on your present and look at your life from a different angle. “Reviewing your life story helps you think about what you’re doing with your time on Earth and whether you’re on the right path. It isn’t too late to improve the narrative with a stronger ending,” concludes Hagerty.

    5. Sharing your story can be the catalyst for someone else

    Finally, you can never know how and when your story might completely change someone else’s direction in life. Simply being honest and vocal about your life could be the catalyst needed to inspire the next world-changing leader or give someone the courage to forge a new path for themselves.

    Reddit co-founder Alexis Ohanian is an excellent example of this. His life motto has always been to “make the world suck less,” and his entire career has backed this up. From Reddit alone, Ohanian has enabled thousands of people to publish books, start businesses and create their own inspiring communities.

    Related: The 5 Elements of Storytelling Every Entrepreneur Needs to Know

    Stories provide so many benefits to us as humans. They help us shape our identities, teach and learn social values, provide comfort, hope and courage, and create social connections that transcend generations, cultures and time.

    Learning how to tell an evocative story will not only trigger emotional connection but provide a common ground that helps you communicate with people from all walks of life, inspiring change and leading others to a better future.

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    Anastasia Chernikova

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  • Entrepreneur | Why 2023 Will Be a Great Year to Start an Online Business

    Entrepreneur | Why 2023 Will Be a Great Year to Start an Online Business

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    Opinions expressed by Entrepreneur contributors are their own.

    One of the big stories of the pandemic, especially during the early uncertain days, was the rise of entrepreneurship. Millions of Americans started new businesses and side hustles, experimented with working from home and expressed an openness to new ways of creating economic value. Recent data from the U.S. Census Bureau on Business Formation Statistics found that the pandemic’s burst of entrepreneurship was no one-time fluke: Americans formed more than 5 million new businesses in 2022, representing a 44% increase in new business formations compared to 2019.

    It appears that the 2020s boom in entrepreneurship is here to stay — and that’s good news for the digital economy. Despite some recent gloomy headlines from Silicon Valley and Wall Street and some painful downturns in the stock market, there are strong signs that 2023 might be an even better year for entrepreneurs to start a business — especially in the online small business space.

    Let’s look at a few big reasons why 2023 will be a great year for digital entrepreneurs.

    Related: 4 Reasons Why an Online Business is the Best Investment You Will Ever Make

    Big Tech layoffs lead to new opportunities

    Just within the past few weeks, we’ve seen thousands of job cuts at Big Tech companies like Google, Meta, Microsoft and Amazon. Of course, these job losses are painful in the short run for the affected employees and their loved ones; no one likes to get laid off. But this temporary pain can lead to bigger opportunities for the future.

    Thousands of entrepreneurs with valuable, in-demand tech skills are now looking for their next gig. Some of them might want to start their own business, and some might band together to launch a new startup with their colleagues; some might want to consult, while others might want to invest in acquiring an existing online business.

    There’s going to be an unleashing of human capital and ingenuity that was concentrated at a few big companies; this is ultimately going to spark new growth in digital entrepreneurship. Lots of great companies get started during an economic downturn when customers are looking for new innovations and there’s less competition and noise in the market.

    I’m excited to see what new ideas and innovations emerge from today’s Big Tech layoffs. There are people getting laid off today who might become the CEOs of the next decade’s biggest success stories.

    Related: Laid-Off From Your Big Tech Job? It Could Be The Ideal Time to Pursue Entrepreneurship.

    Strong opportunities for “Main Street” online businesses

    Publicly traded Big Tech companies have attracted lots of hype and massive investment in the past few years, but the digital economy is not just about these large public firms. There is a very large underrated area of the digital economy that we call “Main Street” — sub $10MM revenue businesses including blogs, apps and ecommerce stores.

    There are lots of ways for entrepreneurs to make real money with online businesses, and it can often be done with limited upfront investment and minimal overhead costs, such as starting a Fulfillment by Amazon (FBA) business. Starting a content-based website or blog can help digital entrepreneurs serve a unique niche and build a loyal audience of fans, followers, and repeat customers. Mobile apps continue to be the center of people’s everyday lives — and there are big opportunities for helpful, profitable mobile apps that can provide a useful service.

    The next wave of innovation in the digital economy is going to come from small online businesses. These are often generating steady revenue and offer big upside potential for growth. Look for more entrepreneurs to explore the Main Street of the digital economy.

    Freedoms of being your own boss

    The continuing boom in new business formations, worker shortages in many industries and the rise of remote work are all strong signs that entrepreneurs are fed up with the traditional corporate workday grind. They want to create value on their own terms, be productive on their own schedule, enjoy better work-life balance and unlock opportunities for themselves in new ways.

    Online entrepreneurship can be a huge force in this larger transformation of how people work and live. When you own a digital small business or other digital assets, you can work from anywhere in the world. You don’t have to punch a clock or report to a manager or be surveilled by an employer. You don’t have to ask permission to go on vacation. You can explore new business ideas, try new things, launch new products and discover new markets without the bureaucracy and limitations of a traditional employer.

    The pandemic caused millions of people to reassess what they want out of life, where they live and how they work. The freedom and flexibility of digital business ownership can be a good fit for many new entrepreneurs.

    Related: 5 Steps to Start an Online Business and Living a Much Better Life

    High-growth online businesses categories

    Digital small businesses offer many flexible models to help entrepreneurs capitalize on the newest trends and consumer lifestyle shifts. No matter what customers are demanding now, digital small businesses are adaptable and well-positioned to deliver it. A few high-growth online business categories that I’m hearing about from digital entrepreneurs right now include fitness, travel, health, finance and pets.

    Think about how consumer behavior has changed in the past few years. People want to focus on their health and wellness; they want to exercise and feel better; they want to take vacations; they want to improve their financial situation; and they want to pamper their pets.

    All of these consumer needs are well-suited to online business ownership. There are many creative ways to build relationships with customers in these categories with valuable products, advice and professional services.

    Acquiring existing businesses as an investment

    2022 was a terrible year for the stock market and lots of investors got burned by meme stocks and overhyped alternative asset categories. What if there was a better way? Investing in online businesses by buying an existing website or other small business can be a great way to invest, and these digital small businesses never got overhyped or overvalued. In fact, some digital small businesses are delivering 30% or more annualized returns.

    Acquiring an existing business is often faster, easier and lower risk than starting an original business, and acquiring a business gives you the reassurance of knowing that this business is generating real revenues and has a base of users, customers and web traffic to build upon. Look for more investors — individual entrepreneurs and larger aggregators and institutional investors — to buy into online small businesses as an investment category in 2023.

    Bottom line: Despite some gloomy headlines from Wall Street and short-term pain for Big Tech, the future is bright for the digital economy. One of the biggest growth areas in tech for 2023 will be on “Digital Main Street,” in small online businesses like mobile apps, SaaS solutions, ecommerce stores, blogs, content-based websites and other digital assets. Small online businesses can spark big growth and open up a new era of digital entrepreneurship.

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    Blake Hutchison

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  • Entrepreneur | How User Research Helps You Win Before a New Product Launch

    Entrepreneur | How User Research Helps You Win Before a New Product Launch

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    Opinions expressed by Entrepreneur contributors are their own.

    Creating and launching new products is an exciting yet daunting period for both startups and enterprises. If the new product succeeds, it will lead to huge sales and business success. However, this is not always what happens. According to research from Harvard Business School, 95% of new products introduced each year fail.

    When you’ve poured millions of dollars and immeasurable labor into launching a new product, and it tanks, this is a crushing blow for the business.

    While there is no definitive way to guarantee success with a new product launch, you can dramatically improve your chances by understanding your users and their needs. It seems obvious, but you’d be surprised to know that 50% of businesses still don’t invest in deep user research.

    When you understand your users’ goals, struggles and anxieties, you will not have to guess what to build. Read on to dive deep into how to conduct user research correctly so that you can read your user’s mind and build successful products and stronger startups.

    Related: How to Nail a Successful Product Launch

    1. Deeply understand your user behaviors and motivators

    Have an idea for a new product? It’s easy to think that’s what your users want, and that’s why most businesses start with a solution. But if you want to create products that your users want, it’s crucial that you don’t put solutions in front of potential users while doing user research.

    Instead, spend your time deeply understanding the space you’re trying to operate in and the people for whom you’re trying to solve it. A deeper understanding of your users will help you avoid confirmation bias, and it will help you create products your users need, not just something you need to sell. If you fail to do this, you won’t be able to launch a successful product.

    Remember, it’s easy to get attached to an idea or solution you’re sure will be great without getting the real users’ input; it happens to the best of us. But creating and launching successful products requires listening to your users and adapting to their needs.

    2. Focus on the right users — don’t build for everyone

    Building great products is difficult — we all know that. But do you know you reduce your chances of launching a successful product if you make it for multiple users?

    Why? Because not all users are equally important, especially in the enterprise world of buyers. So, to launch successful products, you must make the hard decisions about which users are more critical.

    Still, many businesses don’t differentiate, so they don’t make hard decisions. But to succeed, you must be clear about which users are crucial for your product and business success.

    So, the first step to creating and launching a successful product is not just to understand your users but to understand all the people who are going to use your product. So, you can pick and build your product for the right users.

    Related: Why Research Is Key to Startup Growth and Customer Centricity

    3. Combine qualitative and quantitative research

    Most new products fail because companies take shortcuts and don’t invest in collecting data — mainly qualitative data. They feel they “know” their users or that the collection process is too expensive or time-consuming. So, they rely on quantitative research, which helps them confirm their assumptions.

    Remember, it is crucial to collect qualitative data when exploring new opportunities. In fact, qualitative research is vital for every business’s success. With qualitative data, you can get a deeper understanding of user attitudes about product adoption and interest.

    With today’s integrated market research platforms becoming more accessible, affordable and faster, there’s no reason to launch products under a cloud of dust and gas. You can collect data about people’s perceptions of an idea, product or brand. If you use qualitative information to calibrate the quantitative research before launch, you will be more likely to start down the right path.

    4. Pay attention to the user’s unstated responses

    Most new products fail because, while researching, we discount users’ unstated preferences. You should never discount users’ unstated preferences — even when the data says something completely different.

    Before you invest time and money into creating a new product, you need to confirm your product is something people want. And gathering unstated feedback will help you refine your original idea and can even generate a pivot to an entirely new and better product idea. It’s not a step you want to skip.

    Now, I am not saying you shouldn’t listen to what users say. But you should pay equal attention to what they do as well.

    Deeper user research will allow you to discover your users’ true needs, wants and motivations, which will help you create successful products — the ones your users really want and need. And with solutions such as eye-tracking and facial coding, it has become easy to read your user’s minds and uncover their true responses.

    Related: Developing a New Product? Here’s How to Make It a Hit Success

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    Reshu Rathi

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  • Entrepreneur | True Religion’s Co-Founder Leads Differently Today—Here’s Why

    Entrepreneur | True Religion’s Co-Founder Leads Differently Today—Here’s Why

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    Opinions expressed by Entrepreneur contributors are their own.

    I’ve been a serial entrepreneur driven by my passions my entire life. I love the challenge of creating something from scratch and am always eager to learn new things. One of my most notable accomplishments was co-founding the first-ever fashion denim brand: True Religion, which sold for more than $800 million in 2013.

    When I co-founded the company, denim had no stretch; you either wore stiff jeans or jeggings. Worst of all, there were no suitable jeans options for curvier bodies out there. They were clearly being underserved. The designs of our jeans were very technical and intentional in order to achieve a sexy jean that would fit every body type.

    In 2008, I sold my shares of True Religion and set out for my next phase in entrepreneurial endeavors. After I left the company, I started building homes, and as I was staging them, it was impossible to find cohesive styles that fit with the designs and aesthetics. It was arduous to decorate the rooms in these homes and make them look seamless, so I decided to do something about it.

    I founded Style Union Home, a luxury home ceramics brand with handmade pieces crafted in LA, two years ago to fill that gap. Since then, the line has been carried in 200 stores across the U.S., and it’s still growing.

    My passion for being the first to develop something motivated me to start all of my businesses. I have used my 30-plus years of experience founding and selling them to help shape my new home-fashions line — and I’m doing things differently this time.

    Related: What Part Does Passion Play in Your Success as an Entrepreneur?

    These are lessons that I’ve learned along the way and have incorporated into Style Union Home.

    I’d never deal with an all-male board again.

    At True Religion, I was the largest shareholder, but I was also the only woman on the board. During my time at the company, it was hard to find any support from the all-male board of directors.

    We were disrupting the denim industry, and often times they didn’t recognize how to do that because they couldn’t see or relate to the woman’s perspective. We were developing a brand for women, and they couldn’t figure out how to do that. I fought for many of my ideas that ended up being successful for the brand because I knew what our customers wanted.

    Being the biggest shareholder and not being heard was the biggest thorn in my side. The men I worked with could be exclusive; they didn’t care to listen and figure out what it was women really wanted.

    As a result, I never received the support I needed.

    For example, while we were still building True Religion, Neiman Marcus reached out and wanted us to create a dress. The board immediately shut down the idea — they said it had nothing to do with denim. They didn’t see dollars in the project, but I knew they were wrong.

    I created the dress for Neiman Marcus anyway. That denim dress was on the cover of the Neiman Marcus catalog and garnered a lot of positive attention. None of that would have happened if I had listened to the board and not gone with my gut.

    Related: 3 Super Simple Ways to Understand What Your Customer Wants

    I’m committed to hiring and working with incredible women.

    As a result of my experience with the all-male board, I knew I wanted to work with women. As entrepreneurs, we need to build our teams, and by hiring women, we have the power to ensure that they receive equal pay and become part of an inclusive environment. The only way to tackle issues like this is to make the change yourself, and everything else will follow.

    Today, I’m focused on working with women and supporting them every step of the way.

    When it comes to my hiring process, it’s really about passion for me. I look for people who are ambitious and love what they do. Of course, you want to work with people who have experience and know what they’re doing, but they should also be passionate about the work they’re putting out there.

    Today, I’m focused on working with women and supporting them every step of the way. We’re developing a brand primarily for women, and women know women. They can see the vision ahead because they understand and appreciate our customers’ perspectives and what they need.

    Related: 7 Practical Ways to Celebrate and Support Women Entrepreneurs

    Understand the difference between listening and hearing.

    Every entrepreneur should work on their listening and hearing skills — and they’re not the same. Anyone can passively pay attention to what they’re being told and repeat it back, but are you listening and absorbing what’s being asked of you?

    As a leader, you need to listen to your teams and understand their needs. They need to know that you are mindfully present. You can’t run a business with a team that doesn’t feel supported. That’s when things start to fall apart.

    An entrepreneur is only as good as their team.

    Every brand has a vision, and the only way to execute it successfully is by surrounding yourself with people who can also see the big picture. Entrepreneurs need to be able to depend on their teams, and you can only do that if you’re working toward the same goal with a solid group of people. The vigor of the people around you is fundamental to your success.

    Despite being the largest shareholder at True Religion, I never felt supported because the team failed to see what I did. It’s essential that you align yourself with a team on the same page about your vision and let them know they’re valuable.

    Stay true to your leadership style.

    Women in business obviously face a double standard in the workplace. We’ve been taught to do what we can to fit into the “boys’ club” or to tone down our feminine energy.

    But the things that they tell you to downplay (for example, leading with emotional intelligence) are what could make you a great leader in your field. We’re asked to alter our identities when we don’t need to; we just need to learn how to harness those qualities.

    Your passion is valuable. It will speak for you, and people will be receptive.

    You don’t need to be aggressive to get your point across. You can be heard by staying true to yourself and your leadership style. Your passion is valuable. It will speak for you, and people will be receptive.

    Related: The Importance of Staying True to Your Roots as an Entrepreneur

    Leadership by example is the hallmark of a good leader.

    A strong leader makes a strong team. Your actions, however small you might think them to be, have influence over your team. Respect your employees, and they will respect you in return. They have to trust you, and the only way to earn their trust is by showing them that you put your words into action.

    I would never ask someone on my team to do something I wouldn’t do myself. Being a leader does not make you superior to others. You’re all critical pieces of one big unit that only functions when you’re in sync.

    If you’re not ready for something, there’s nothing wrong with saying “no.”

    Business owners think that they have to say yes to every single opportunity that comes their way. But they’re operating on a scarcity mindset. They believe that if they say no, the prospect is lost forever. But I haven’t found that to be true at all.

    When making decisions, it’s essential for founders to learn when to say no because it can make or break their business. It’s tempting to say yes when you’re presented with a potentially lucrative offer, but you have to think strategically about the long-term impact. Before making any commitments, you should wait until you have all your ducks in a row.

    If a business owner knows they aren’t prepared for something, the worst thing they can do is say yes to it and possibly sacrifice that connection. If you’re not ready, that’s okay. Don’t do it. They’ll come back.

    I will never repeat the mistakes I made at True Religion, but I’m grateful for the lessons that I’ve been able to learn along the way.

    I’m taking all of my experience into Style Union Home’s growth plan for 2023. Aside from these lessons, we’re also utilizing invaluable information from our retailers and customers to guide us in the right direction.

    I will never repeat the mistakes I made at True Religion, but I’m grateful for the lessons that I’ve been able to learn along the way because now I know exactly how I want to run my business and how that contributes to success in the long run.

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    Kym Gold

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  • Entrepreneur | 6 Reasons You Can’t Get Anything Done at Work

    Entrepreneur | 6 Reasons You Can’t Get Anything Done at Work

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    Opinions expressed by Entrepreneur contributors are their own.

    To keep up with the demands of running a successful business, entrepreneurs often spend countless hours interacting with customers, fulfilling orders, managing their teams and juggling a wide variety of administrative and business tasks. We all have the same number of hours in the day. Although entrepreneurs might appear superhuman on the surface, accomplishing all of this while maintaining a reasonable work-life balance requires intense levels of focus to pull off.

    Unfortunately, there are a lot of distractions and environmental factors that can shake your ability to focus during the day. If you find yourself putting in tons of hours but accomplishing very little, the following six reasons could be why.

    1. Fear is disrupting your focus

    Being an entrepreneur can be overwhelming and straight-up intimidating. As an entrepreneur, you might be facing an angry client, a supplier issue or an impending economic disaster. Ultimately, this can have devastating impacts on your ability to focus. People are naturally inclined to avoid tasks and experiences that are inherently dangerous or unpleasant. This leads our brains to sidetrack our focus to less scary activities such as checking email, reading the news or scrolling through social media.

    On the surface, this is counterintuitive. The obvious course of action is to remedy or avoid these challenges (which should in turn reduce our anxiety and fear). The reality is that’s not how we are hardwired, making it easy for our minds to wander and shift our focus to other tasks.

    As an entrepreneur, you might even find yourself working on tasks that appear productive but provide less value to the business. For example, you might spend your day connecting with existing customers who you feel comfortable with. On the surface, this seems like a great use of your focus and time. But you might have subconsciously chosen this safe activity instead of the riskier and more uncomfortable task of cold-calling potential new clients.

    Start by making a list of your worst fears and concerns within the business. Once you have your list, start crossing out the ones that are beyond your control. For the ones that are within your control, create a list of action items to help prepare you and the business to address these challenges. This should make your fears more manageable.

    Related: Taking These Actions Will Stop Distraction

    2. Your business lacks strategy

    We chose to be entrepreneurs because it gives us the freedom and flexibility to build our business and brand the way we want. It’s easy for entrepreneurs to fall down the rabbit hole of endless possibilities for product designs, marketing campaigns, and target markets. The “what if” mindset is what makes entrepreneurs great. However, it’s easy to lose focus on your business without a clear strategy and goals in place.

    If you’re finding it hard to remain focused on your business day after day, you may need to revisit your strategy. If your new ideas don’t align with your strategy, you may want to carefully consider whether you should pursue them or not.

    Related: Death By a Million Cuts: The Small Stuff is More Disruptive Than You Think

    3. You’re not getting enough rest

    Entrepreneurs are notorious for working long, grueling hours. In addition to these physical work times, entrepreneurs spend countless hours outside of work stressing and thinking about the business. This can have significant impacts on the amount and quality of sleep you get.

    Lack of sleep can disrupt focus, attention and concentration. The American Academy of Sleep Medicine recommends that the average adult get a minimum of seven hours of sleep each night. Adjusting your sleep pattern could give you the boost you need to remain focused during the day.

    Other healthy habits in addition to sleep can also improve focus such as eating a balanced diet, drinking plenty of water and exercising.

    4. You’re working in the wrong environment

    Trouble focusing can also be a result of your work environment. Do you stop and read news articles when they pop up in your browser? Does your attention get averted by the people around you when working in a busy cafe? Do you find yourself visiting the pantry for a snack multiple times a day when working from home?

    Eliminating external distractions and adjusting your work environment might be what you need to improve your focus. Try keeping a journal during the week of your activities and what triggered you to engage in those activities. Simple adjustments like turning off digital notifications or moving to a quieter workspace may support a more focused and productive workday.

    Related: Is Your Work Environment Allowing You to Thrive?

    5. Wearing too many hats

    Entrepreneurs often have a million responsibilities and wear multiple hats. In many cases, they spend their day putting out fires and handling administrative tasks. These low-value tasks can break your focus on what’s truly important for the business.

    If you find yourself working on a lot of tasks, but never actually accomplishing anything, you could be suffering from doing too much. One study found that less than 2.5% of people can successfully multitask. Instead, delegating low-value tasks to others and focusing on just one high-value business activity at a time can increase your effectiveness as an entrepreneur. You can even look to technology to automate some of your work activities to free up time.

    6. You hate what you are working on

    In the beginning, starting a new business and being an entrepreneur is exciting and challenging. At some point, your excitement and drive may dwindle as you get into a groove. Your focus might suffer from simply not enjoying your day-to-day responsibilities. In the workforce, people can simply find a new job when they no longer enjoy what they are doing. For entrepreneurs, this isn’t always an option. You can’t simply walk away from the business that you have spent so much blood, sweat and tears to build.

    Instead, think about what activities you enjoy and don’t enjoy. Perhaps, there are some unpleasant tasks that you can avoid or outsource. For example, if you hate the bookkeeping part of the business, you might consider hiring a professional bookkeeper to take this off your plate. That may free up your time to work on more enjoyable projects.

    It’s important for entrepreneurs to always function at their very best. By reclaiming your ability to be laser-focused on your business, you will have the ability to accomplish things that you never thought possible.

    Related: This Is How Employers Can Encourage Workplace Productivity

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    Nicholas Leighton

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  • Entrepreneur | Live Q&A: Ask the Producers of ‘TechTalk’ Your Startup Questions

    Entrepreneur | Live Q&A: Ask the Producers of ‘TechTalk’ Your Startup Questions

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    If you are obsessed with technology and love finding out what is coming around the corner to change our world, be sure to check out EntrepreneurTV‘s live Q&A with the creators of the award-winning docu-seriesTechTalk. Each episode of TechTalk takes viewers on an informative and inspiring journey of discovery, highlighting emerging startups and the innovators leading them — from flying cars to surgery-performing robots. TechTalk host Jonny Caplan and his producing partner Ronald Hans will be taking your questions live about what it takes for a tech startup to succeed, what innovations they see coming down the road, how to create your own future-forward content, and much more!

    Where can I watch?

    Watch and stream: YouTube, LinkedIn and Twitter

    You can watch on your phone, tablet or computer.

    What time does it start?

    Time: Wednesday, 2/15 at 1:30p ET

    Why should I watch?

    The award-winning producers and host of EntrepreneurTV’s show TechTalk have interviewed hundreds of tech founders, and have co-founded multiple businesses themselves. They’ve seen success (and struggle) firsthand and can offer incredible insights into what tech entrepreneurs can expect on their journeys.

    Related: Watch What’s Streaming for Free on EntrepreneurTV Now

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    Entrepreneur Staff

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  • How Leaders Can Raise Motivated, Proactive Intrapreneurs

    How Leaders Can Raise Motivated, Proactive Intrapreneurs

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    Opinions expressed by Entrepreneur contributors are their own.

    At my first job, while I was impressed by the advanced equipment and technology, I was rather disappointed by the need for more openness to new ideas. My manager rejected all the new ideas I proposed for our projects. The pain of ideas getting killed resonated with a couple of other friends. So, we decided to start our own company where we could put our ideas into action.

    Of course, not all our ideas were successful, but that’s the risk of entrepreneurship, and we are happy that we had the chance to try them. Today, our organization is a strong team of over 300 people who are encouraged and motivated to experiment and share ideas. Moreover, the intrapreneurs within these 300 people have grown professionally and fueled the company’s overall growth.

    The opportunities to ideate, test and scale products by our intrapreneurs have allowed our organization to launch vital new products and services. In addition, our labs’ products have allowed us to serve clients and help them intuitively, accurately and efficiently make critical decisions.

    That’s the power of intrapreneurshipeveryone wins when employees receive the freedom and support to innovate and create.

    Related: 6 Steps for Turning Your Employees into Intrapreneurs

    The startup dreams

    The fancy word — “startup.” Starting up is never easy.

    Many employees at every organization once dreamed of starting their own company. However, upon looking at the responsibilities on their shoulders, such employees decide against taking such a risk. But with the right mentorship and support system, they can carve out a laudable path of entrepreneurship as intrapreneurs.

    American business software company, Intuit, encourages its employees to create prototypes to test their hypotheses. Their “unit of one” approach for testing and scaling ideas promotes constant innovation. Essentially, Intuit ensures that employees test their hypothesis with just one customer, ideally someone best served by it. For example, suppose the target persona finds the MVP useful and recommends it. In that case, the hypothesis can scale to a larger cohort to observe a bigger dataset.

    In a piece by Harvard Business Review on intrapreneurship at Intuit, this approach was cited as an example that helped the business launch “Shop Owner,” a mobile application, in Bengaluru, India.

    Repeat interactions with everyday customers — rural-area store clerks — allowed one Intuit employee to recognize that each sale was kept in the shop owner’s “memory” due to a lack of on-site computers or cash registers with integrated accounting features.

    The answer? Since the target audience predominantly used smartphones, the team built a simple application that bundled point-of-sale accounting, inventory management and printed receipts.

    The prototype was created, tested and approved for scaling — within seven days!

    Related: Big Companies That Embrace Intrapreneurship Will Thrive

    Raising intrapreneurs

    Triumphant outcomes are routinely tagged as “overnight success,” whether from innovation or intrapreneurship programs. Yet, the truth could not be further away from this adopted belief.

    Building a healthy culture that celebrates intrapreneurship requires a mix of systems, tools and hard work. I believe that the ball starts rolling right from the leadership. Organizations can take cues from several studies, research papers and working models on better cultivating a culture of intrapreneurship.

    Neil Fogarty, an instructor of Entrepreneurship in the Dept. of Management & Organization in the Smeal College of Business at PSU, offers a framework for creating a supportive environment for raising entrepreneurs. Leaders may say, “I get it, but,” Fogarty replies, “Here is how you can go about it.”

    The framework helps switch employee thinking from a cost-center perspective to one of personal profit-center. As a result, leaders can help raise motivated, proactive intrapreneurs and also understand how to tackle budgetary constraints, propensity to take risks and other crucial commitments.

    It’s worth taking a deep dive into this framework; meanwhile, here is how we go about intrapreneurship at our company.

    Related: You Have a Great Idea, But You Work for Someone Else. What Do You Do With It?

    How do we raise intrapreneurs?

    In my two decades of work experience, I have participated in countless discussions — brainstorming sessions, OKR feedback, policy debates, product quality reviews, etc.

    Most of us love listening to what we would like to hear; however, we encourage the daring minority — intrapreneurs — to challenge the status quo.

    In my experience, it is crucial to establish a structure where people can fearlessly submit their ideas and suggestions. Moreover, it is essential to provide them with the right ecosystem to execute those ideas. Of course, not every idea would be successful, but the biggest risk is not taking any risk,” as Mark Zuckerberg, the CEO of Facebook, says.

    Here are three prominent practices we follow to encourage intrapreneurship culture:

    The OKRs:

    The sales targets are not just set for the sales team. The operations team needs to walk hand-in-hand in the following ways:

    • Identifying the gaps at the client end to open more business opportunities

    • Suggesting market gaps where the company can position itself strategically to bring more business

    • Expanding teams by strategic and thoughtful hiring

    • Creating systems and processes for efficient and productive work

    • Honing people skills to effectively manage teams

    This way, the VPs, managers and team leads run small companies as a part of the big company. In addition, we give intrapreneurs hands-on mentorship in the form of an in-house program called “altMBA.”

    In-house MBA programs:

    Creating leaders at every level of the organization chart — especially those who staunchly believe in innovation — requires workplace training.

    While traditional classroom settings can offer many theoretical insights, practical altMBA workshops have helped employees provide efficient feedback, become better communicators, apply “first principles thinking” and learn how to ask better questions.

    Make-a-thons:

    At our organization, we conduct an annual hackathon called “make-a-thon.” This event helps us create and support a culture of intrapreneurship within the organization.

    “Make-a-thon” takes place over two days, where people create teams to build a minimal viable product (MVP). Then, at the close of the event, teams pitch their prototype.

    What’s the requirement? A problem that bothers someone every day at work. Slow administrative approvals? Friction while accessing files from a database? It can be anything! The results have surprised us every time.

    Over the years, we have tweaked this system’s design and found specific characteristics that help bring standout results.

    We found that cross-pollination (making cross-departmental teams) exposes everyone to unexplored, alternate viewpoints. Next, we insist on executing ideas in short turnaround times rather than coming up with groundbreaking ideas. Finally, we foster a lean theory of execution — no idea is “big” or “small.”

    Apple’s former Chief Design Officer, Jony Ive, once remarked about Steve Jobs: “I think he better than anyone understood that while ideas ultimately can be so powerful, they begin as fragile, barely formed thoughts, so easily just squished.”

    In conclusion, to avoid losing promising ideas and nurture intrapreneurs, here are a few actionable steps one can take:

    • Encourage and reward risk-taking and innovation

    • Provide resources and support for employees to develop and implement new ideas

    • Create a flat, open organizational structure that fosters communication and collaboration

    • Offer training and development opportunities to enhance employee skills and knowledge

    • Empower employees to take ownership of their work and decision-making

    • Implement a system for idea generation and feedback

    • Recognize and celebrate successes, both big and small

    • Lead by example, demonstrating a passion for innovation and a willingness to take risks

    • Foster a culture of transparency, trust and accountability

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    Deepak Syal

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  • How to Sell Your Business for 10x or More

    How to Sell Your Business for 10x or More

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    Opinions expressed by Entrepreneur contributors are their own.

    Every entrepreneur dreams of funding their freedom by one day selling their business for 10 to 20x multiples or more. Unfortunately, selling for multiple valuations is not as common as we all wish it was. We know it’s possible because we’ve seen it happen, but it’s the exception, not the rule.

    So what’s the secret? What makes a business achieve that level of success?

    As an entrepreneur and a coach to my fellow entrepreneurs, I have had countless conversations on this subject. After an intriguing meeting with my friend Tom Lambotte, founder of OneDayWorkWeek.com, I now know the secret is to establish processes and systems that allow the business to run smoothly without the founder in place.

    When it comes time to sell, the multiples will be dismal if the business is highly dependent on you to run it. If the business is self-running, the payoff has the potential to be exponential.

    There’s a bonus to this strategy: You get more freedom before selling the business. You get to work in your zone of genius and enjoy downtime and family time away from the business without guilt.

    Related: How to 10X Your Business, Income, and Life

    You may be laughing out loud now at the concept of a self-running business and a one-day workweek. But Lambotte has actually done it and believes every business can operate this way.

    Here are six steps with implementable tools for creating a self-running business.

    1. Vision design

    Begin with the end in mind. The essential first step is establishing a clear vision of your long-term personal and business goals and your company’s core values. Then you can break down your goals into annual goals and monthly goals.

    Taking the time to establish your goals and reflect on your values is especially important for founders who have more business coming in than they can handle and spend most of their time putting out fires.

    Related: Your Vision Doesn’t Matter Unless You Act on It

    2. Diagnose and track

    Get crystal clear on your biggest challenges and problems and the most important success factors of your business. Make changes where necessary. This step most often requires the objective perspective of a skilled outsider.

    Related: Asking For Help Is Good For You and Your Business

    3. The right team

    You must build a team of A-plus players united around your well-defined goals and values. You can do this by hiring for skill and aligning with company culture. Build systems so that you are always recruiting and easily attracting quality hires and so that you can train and onboard with ease. Additionally, if you’re a founder or CEO working in the nitty-gritty, day-to-day aspects of your business, you either need a COO, implementor and executive assistant, or you need to get effective people in those positions.

    4. Process hub

    A lack of well-defined processes pulls the leader into every aspect of the business. Identify your core processes, keeping in mind that in most businesses, around 20% of the processes create 80% of the results.

    After identifying them, document them well and ensure they are implemented. This is how you create self-replicating team members.

    5. Tech return-on-investment multiplier

    Leveraging your technology is the secret sauce that can free up time for you and your employees. Are there features or automations in your current software that could save you 10 minutes daily? That’s 40 hours a year.

    When everyone on your team seeks out efficient processes, you can accomplish more without hiring more people. A motivator for efficiency is profits, which equals raises. If you don’t know how to leverage your technology, get the help you need.

    6. Velocity engine

    When you have the right systems in place, it’s time to get your meeting structure and learn how to run effective meetings. It’s also time to teach your team members how to plan their weeks. With all these components in place, your velocity engine will run smoothly, and you’ll be free to work on your business, not in it, one day a week.

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    Mike Koenigs

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  • 3 Ways to Rewire Your Brain to Make More Money

    3 Ways to Rewire Your Brain to Make More Money

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    Opinions expressed by Entrepreneur contributors are their own.

    Have you ever asked yourself any of these questions?

    “Why can’t I earn more?”

    “Why does it seem as though less capable people wind up making so much money?”

    “Why do I feel stuck?”

    I’ve been asking myself an associated question lately: “How do I help my high-performing, highly capable entrepreneur friends break through their money-making and self-improvement barriers?” It simply amazes me how often I see creative and hard-working friends struggle to generate the kind of income they are deserving of.

    So I tasked myself to help and came up with actionable pieces of advice that not only identify problems but offer ways onward and upward.

    Fortunately, I’ve got a good friend who specializes in addressing these types of issues. Dr. Alok Trivedi (also known as “Dr. Rewire“) has spent the last 27 years of his professional life studying the deep connections between human minds’ “wiring” and personal performance. He’s identified no fewer than 92 scientifically backed techniques to help, quite literally, rewire the brain to become the best version of yourself.

    Here are a few I considered particularly pivotal in addressing the divide between abilities and success.

    Related: The Best Entrepreneurs Are Experts at Self-Improvement. Here’s How to Master That Skill.

    1. Go to the source of money-making problems

    You have likely heard a “villain origin story,” that trajectory-defining point in the life of a wrongdoer that put them on that path. Well, those of us who struggle with making money often have a negative story of our own.

    Dr. Trivedi explains: “Most individuals’ brains have default wiring that needs to be overcome to find greater success. This typically comes from earlier in our lives (it may be a moment or a string of moments) that created a pattern (or patterns) that ultimately becomes our behavior. Sometimes, this default wiring has created fear, paranoia, anxiety and/or chaos. Perhaps it was a divorce. Maybe it was bankruptcy or the way we were raised. Whatever the case, this wiring has resulted in an emotion, typically one of resentment, which plays out as our primary expression towards money. Because of this resentment, we’ll push away deals, opportunities or work, thus creating a money-making barrier.”

    Trivedi adds that the best way to know if you have such default wiring is to analyze your feelings and circumstances. Do you feel stuck? Have you hit an income plateau? Do you fear the future? These are all dynamics that need to be taken seriously, and once they are recognized, it’s vital to search for related past experiences. Typically, you can identify these on your own, though it may be wise to seek out a professional’s assistance.

    Related: Show Me the Money. The 4 Principles of Success and Wealth Accumulation

    2. Find clarity

    Once you’ve identified what’s created negative wiring, it’s time to confront it. While this can create uncomfortable feelings, that step is critical to begin the process of change.

    “Once we’ve identified [that] source, it’s time to get clarity,” Trivedi says, “and we get that by looking at both sides of the experience, positive and negative. We must ask ourselves these questions: What negative feelings have I been holding onto as a result of this experience? How [has] this resentment actually helped me grow in life (if at all)? What good may have come from it? It’s incredibly important to realize that these experiences can be just as much a good thing as bad.”

    If we can examine past events in this way, from both sides, we give ourselves perspective, which is a key element in helping our brains rise above emotions — detaching them from the fallout of experience.

    Related: How to Develop Mental Resilience for Greater Success

    3. Gratitude leads to action

    This step may seem odd initially (it did to me at first), but a powerful question to consider is, “Should I feel gratitude for these sources of resentment?” The more I understood the power of gratitude, the more I appreciated it as a catalyst that allows us to move on to money-making goals.

    “Finding gratitude quite literally changes our DNA,” Trivedi says. “It begins with our emotions, which are freed from whatever negative pattern they’ve been in — but only once we find and feel gratitude. This changes our beliefs — moving our brains out of the amygdala (fight-or-flight center) and reconnecting them to the executive center of the brain. The moment this happens, a switch flips and organization occurs: We begin planning, creating and changing. The future suddenly looks bright, and we understand what path we need to walk to get there.”

    This is the beautiful process, Trivedi adds, of rewiring the brain through integration. Once this is done successfully, old patterns end, and new ones start. And, hopefully, your new pattern will be one of creativity, wealth creation and ceiling-shattering.

    Related: Why Gratitude Makes Leaders More Effective

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    Randy Garn

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  • 21 Inspiring Quotes From Black Leaders From Throughout American History

    21 Inspiring Quotes From Black Leaders From Throughout American History

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    The words of these 21 individuals will inspire you to do more.

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    Rose Leadem

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  • What’s on Entrepreneur TV This Week

    What’s on Entrepreneur TV This Week

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    Entrepreneur TV’s original programming is built to inspire, inform and fire up the minds of people like you who are on a mission to launch and grow their dream businesses. Watch new docu-series and insightful interviews streaming now on Entrepreneur, Galaxy TV, FreeCast, and Plex.

    This week be sure to watch episodes of:

    Tech Talk (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

    This Week’s Featured Show

    TECH TALK is the journey to discover innovators shaping our future.

    Episode 107: See Flying Cars, Taxis & Rescue Vehicles; we go to find out more. Discover 3D holographic food and drones that fly into burning buildings to warn the Fire Fighters.

    Episode 108: Drones pose a significant security threat to all. Meet the inventors of 360-degree drone defense systems. Then, watch Jonny’s connected car get hacked by a trained cybersecurity expert!

    Episode 109: Visit IDC Herzliya, one of Israel’s leading universities. We also take you to one of the leaders behind self-driving cars and discover mind-blowing 3D holographic surgery.

    Episode 110: Augmented reality snowboarding helmets made by ex-military fighter pilots. Jonny then visits the Robotics Lab at Bar Ilan University to meet the Israeli Robot Soccer team.

    Episode 111: See intelligent drone delivery systems for any business. JC tests a TV scanner app to get audio on any TV. Finally, Ruth discusses her impactful venture to protect us from old age.

    Episode 112: Season Finale discovers five outstanding innovators ranging from futuristic zappers to Autonomous Robot Window Washers & Mind Controlled Games to assist with ADHD.

    Elevator Pitch (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

    On ENTREPRENEUR ELEVATOR PITCH, entrepreneurs have 60 seconds to pitch a business idea to a boardroom of investors.

    Episode 801: Entrepreneur Elevator Pitch is back! Season 8 starts with entrepreneurs building intergenerational wealth through hat sales, building bodies back with foam roller water bottles, and building a new way to co-own vacation homes.

    Episode 802: Learn the finer points of pitching and deal-making in the new episode of Entrepreneur Elevator Pitch.

    Episode 806: See if our investors think there’s something fishy about her concept on the new episode of ‘Elevator Pitch.’ You never know who will walk (or swim) through the doors of Entrepreneur Elevator Pitch. So check out episode six for some genuine surprises!

    Celebrity Business Tips (Monday, Wednesday, Friday)

    CELEBRITY BUSINESS TIPS showcases actors, athletes, and entrepreneurs as they share their best business tips to help you get started and find success with some humor and heart.

    Episode 101: Actors, athletes, and entrepreneurs share their best business tips.

    Mindvalley Talks (Monday, Wednesday, Friday)

    MINDVALLEY TALKS brings you the best personal growth video content from the most brilliant minds on the planet.

    Episode 103: In this talk at A-Fest Portugal 2019, Keith Ferrazzi is an American author and entrepreneur. He shares some of his critical insights into how you can analyze your team’s effectiveness and performance at work.

    Mirage (Sunday, Tuesday, Thursday, Saturday)

    Featured Film.

    In 1968, at the ripe age of 26, Peter Kalikow was confident he could build a better car than anyone else. So he took the money he made in the construction and put it all on the line to take on the automotive establishment.

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    Entrepreneur Staff

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  • Why Your Job Title Doesn’t Matter

    Why Your Job Title Doesn’t Matter

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    Opinions expressed by Entrepreneur contributors are their own.

    In a corporate setting, a job title can be used as leverage, something for you to strive for. Titles to distinguish levels, such as Associate, Vice President and Managing Director, allow other employees to understand your position in the firm and the status that comes with it. Certain titles come with specific salary ranges and perks — which is one of the reasons to strive for them. Humans aim to be verified with some level of significance, and in a business setting, one of those levels of significance comes from the job title. However, when it comes to entrepreneurship, the way we think of titles is different.

    One of the concepts I covered in a previous article was the risk and rewards of priorities. I have seen inexperienced entrepreneurs over-prioritize their titles — picking a title should be at the bottom of the priority list. In the age of social media, there is a never-ending wave of titles people can pick from, like Boss, President, Principle, CEO, Founder, King and Owner — take your pick. All these are non-important to an entrepreneur and are ways to validate an ego without doing any work.

    A job title does not matter at the entrepreneurial level. Here’s why.

    1. Job titles can be lies

    Job titles in any business size can be misleading, but at the entrepreneurial level, they can be outright lies — especially if you’re the one who created it. You might call yourself a CEO, but what exactly are you chief of executing? You might be a President, but what exactly are you presiding over?

    Just because you decide on a fancy title does not mean you are good at your entrepreneurial role. Similarly, just because someone you’re networking with has a fancy title does not mean they have the skills and experience to back it up. Job titles don’t always accurately represent a person’s level of knowledge or expertise.

    All companies, big or small, want to be seen as professional and worth doing business with. One of the ways this is accomplished is by giving specific titles to employees. Who wouldn’t want to do business with a “vice president of a company?” But this “vice president” could be one of the less senior roles. This is true across most companies and is an old way of operating. On the other hand, someone with a simple title may be a valuable contributor to the team.

    Related: The Weirdest Job Titles Might Also Be the Most Unpopular (Infographic)

    2. Job titles are misleading

    Building off the previous point, job titles don’t necessarily reflect a person’s responsibilities — especially in the entrepreneurial world. When you work for a company, you realize quickly that sometimes your responsibilities tend to go above and beyond your job description. The smaller the company, the more roles you play.

    For example, your title might fall in with sales, but specific responsibilities would fall more into an operations or customer service category. Furthermore, two people with the same job title may have vastly different roles and responsibilities within a company. And this becomes even more true when comparing job titles across companies.

    Related: Why Job Titles Don’t Always Reflect the Value of Employees

    3. Job titles can be changed at any moment

    If a job title can change at any moment, it has zero value. Furthermore, as an entrepreneur, you will find that focusing too much on your title can create a culture problem as the company grows. If employees start to question and compete for title status at such an early stage, that removes the focus and teamwork from accomplishing the actual goal — growing the company. Titles can motivate employees when the company gets a specific size or has a particular structure – anything before that is just a hindrance.

    Related: You’re a Real CEO When Your Company Is Bigger Than Your Title

    As an entrepreneur, especially a bootstrapped entrepreneur, your job title is whatever needs to be done that day. If you need to make sales, you’re a salesman. If you need to pay bills, you’re an accountant. If you need to clean the office, you’re a janitor. Your job is to do whatever needs to be done.

    Now, as the company changes, that concept changes. As growth comes, there will be a need for more structure and delegation. Hopefully, there comes a point when you can delegate out low ROI responsibilities. Cleaning probably is not generating the company’s greatest ROI, so delegate it. Paying bills is not generating the best ROI for your skill set, so delegate it.

    When does a job title matter?

    A job title matters when you decide it matters. If you feel that you can absolutely not move forward with being an entrepreneur unless you have picked out the appropriate title — then you will have to pick out the appropriate title (disclaimer: if that is the case – you might want to question if entrepreneurship is right for you).

    Now, if you feel you need a title after your first hire, go for it. But chances are everyone internally understands their place in the business and their role. In my experience, depending on the business model, most employees instinctively understand their role and where they are in the structure until about 15 employees. At that point, titles might make sense.

    Related: What’s A Job Title Really Worth?

    Finally, if you feel you need an awesome title to fit in with all of the other awesome business people, remember this: A true business person, especially in the entrepreneurial world, does not care about your title. They care about what you do, your portfolio and what you can do to help each other grow.

    If you can pick out a title and move on to focus on key priorities, excellent. But if you find yourself getting held up on titles and other minutiae, remember: titles don’t matter; execution does. Do not validate your ego by picking out a title. Validate your ego by building a better business.

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    Anthony D. Anselmo

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  • The 5 Steps to Building a Culture of Success in a Startup

    The 5 Steps to Building a Culture of Success in a Startup

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    Any article you read, podcast you listen to, or founder you talk to will tell you that “startups are hard.”

    I couldn’t agree more, but what does “hard” mean? Hard because you work long hours? Hard because you have little money? Hard because you have so many competing priorities? Hard because it is lonely trying to look successful to customers, partners and staff while struggling to keep it all together?

    The answer is a resounding YES to all of the above. Startups are hard. But they are also just the right thing for people who want to learn and grow continuously. And they are the right thing for people passionate about establishing a unique company culture that reflects their values. Being intentional about company culture can be a make-or-break factor for any startup.

    I spent over 20 years with a successful career at a Fortune 100 technology company. I worked in small subsidiary offices in remote parts of the world and at corporate headquarters. I had stable, sometimes very large, budgets and teams in both settings. I knew the corporate values, understood and lived the company culture, and knew precisely how to manage the systems, processes and policies to support my area of business and career. I moved fluidly between headquarters and field roles. No matter where the office was located on a map, there was a consistent corporate feel and “type” of employee. This was true for fewer than 20 employees and offices of thousands. No matter where I was, there was structure and the security of a well-known logo on the door and systems and processes to connect with the larger corporate, sales, marketing, financial and HR systems.

    Related: 5 Must-Haves for Entrepreneurs and Their Startups to be Successful

    When I stepped into my first role leading a startup, I was certain that all my time working remotely in field offices had prepared me to lead a small organization. I understood how to motivate and manage a team, talk to customers, create a killer PowerPoint presentation and back it up with a slick Excel financial forecast. I didn’t count on a company culture’s role in a successful business. I took that for granted because my career had been steeped in an already-established business culture.

    Like most startup founders, my priorities were laser-focused on how to make money, how to achieve the holy grail of product market fit, where the first tranche of funding was coming from and how much runway we had. I put my head down and drove hard to succeed. I failed. I spent all the money in ways that didn’t make sense in hindsight. I never found the right market fit and failed to dig deep enough into the customer’s pain point. And I never really thought about the type of company culture I wanted to build. I stepped into a position with a team in place and never really questioned what type of company that group of people added up to and how significantly this would impact the product we offered to the market.

    Related: Go Hard, Or Go Home: A Game Plan For Startups Wanting To Survive An Economic Downturn

    Not being one to give up easily, I took the lessons I learned about spending and saving money, understanding a need before developing a product and even how to pitch and raise more money, and started another business. This time, I decided to put the company mission and culture first. My co-founder and I come from very different business backgrounds but share the feeling that culture is one of, if not the most important, element to success. This approach has paid off, and we have attracted and formed a team deeply committed to our business mission: creating economic gender equality.

    Here are the top 5 steps to building a culture of success:

    1. Communicate!

    Prioritize communication. Do it regularly and reinforce the company’s core mission, values and direction. Share the status of business deals, your financial position and short-term goals and long-term aspirations. Seek input and feedback on business status and how the team feels about the direction, product and place in the market.

    Related: 6 Communication Tips to Strengthen Your Company’s Culture

    2. Make hard choices

    A small startup team can become like a family. You depend on one another and often have a close, beyond-professional relationship. This makes it difficult when things go sideways with one of the family. But as a leader, you must keep your eye on the mission and remember why you are in business. Making a hard decision to let someone go, while painful in the short term, is better for the team and will reinforce the culture of building for the long term. It could also lead to amazing, unexpected opportunities.

    3. Reward the work

    I am not a big believer in compensating teams with free drinks or a foosball table at the office. The best way to reward your team is to pay them a salary or with equity or both. Continuing to invest in building the business to enhance their stake in the company speaks louder and is more beneficial than superficial, short-term entertainment perks. And don’t forget to celebrate the wins, even the small ones.

    Related: How to Reward Employees in Uncertain Times

    4. Tell the real story

    When things go wrong, and they often do in a startup, own it. Talk about it and learn how to improve and not repeat mistakes with your team. Optimism is a hallmark of startup founders and teams, but not acknowledging when things go wrong likely will harm your business, or at the very least infuse a superficial element to your company culture — and create distrust.

    5. Enjoy the work you are doing

    You and your team are working hard to grow a business. You can never forget the drive and passion that attracted you and the team to get started in the first place. No matter how successful or large the organization becomes, if you don’t have a culture where your team feels invested and enjoys their contribution to the mission, you won’t have a sustainable business.

    So yes, startups are hard. But when you are intentional about creating a healthy business culture that reflects your company’s mission and values, startups can be just a bit easier — and a lot more fun.

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    Kate Isler

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