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Tag: Entrepreneurs

  • Feeling Stuck in Your Career? These 8 Tips Will Help You Move Forward.

    Feeling Stuck in Your Career? These 8 Tips Will Help You Move Forward.

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    Opinions expressed by Entrepreneur contributors are their own.

    I know what it feels like to be stuck in a career and not have any room for growth or a fair evaluation of your efforts within the company. Although I had what many people would perceive as a successful career in public relations, I felt a prolonged progression in my promotions, a lack of opportunities to grow in other areas of the field and not a great work/life balance. I started to lose a sense of determination in my work. My personal story began when Covid-19 first hit; like many people, I lost my job, which left me in a whirlwind of confusion and heartbreak.

    Related: A Successful Career Path Doesn’t Have to Be Linear

    How I got unstuck

    I had a moment to sink in the fear of job security but then realized I was luckier than most. I was already working on my side hustle with freelancing which was making more than I was making at my full-time position, and I was able to keep that up while I tried to figure out what my next move would be. Would I continue to just freelance and maintain, or would I push myself to do more?

    My next move came sooner than I realized. After all, at the time of the pandemic, I possessed a skill many companies needed most — public relations. I realized that this skill allowed me to work from anywhere. In the past, my personal success was hindered in this area, thanks to a full-time job that ate up a lot of my time with commutes and late nights. I realized I had enough clients to get going, with eight customers that quickly grew to 15 in just a few weeks, ranging across a plethora of industries. Things went so well that in the time of a global pandemic, a young 29-year-old female was able to create a growing business.

    This is something I never contemplated and didn’t think was possible just three years ago, but now it is a reality with over 25 people on my team and counting. When opportunities come your way, and you realize people want what you offer, you simply don’t turn that down. You acknowledge this as a sign it’s time to grow, your time to live into your potential and to take that leap in creating a business. These opportunities are coming your way because people are gravitating to what you offer. You need to invest in your vision and potential to realize you found something unique and something that companies want. This all starts with believing in yourself.

    Related: 4 Tips To Overcome Career Transition Anxiety

    How you can do it, too

    Some of the most frequent questions I receive are: “how did you change your work situation?” “how did you start your side hustle?” or “how do I market my skills?” As someone whose primary mission is to make an impact on others, I am here to help. Now I realize that many people are feeling stuck in their careers, and in the time of the “Great Resignation,” I want to guide you to feel less trapped and put you on a path where you can recreate your career. Here are my eight tips for getting started:

    1. Remember we have more opportunities than ever: There are more avenues now than ever to pick up a side gig and work on it from the comfort of your home. This makes recreating your career and focusing on the work that makes you happy easier than it’s ever been.

    2. Take the time to create a list of what skills you possess, are great at and love doing: Often jobs have us doing numerous tasks. Some we are great at, and other ones we wish were better at or just don’t like doing at all. You may simply not have had the opportunity to hone in on certain talents. Now you have the luxury of getting to focus on what you are great at and monetizing that skill. If you don’t have a skill that you’d like to hone in on yet, no worries! Many sites offer courses that are free or at minimal cost so that you can gain critical knowledge to create your new side hustle!

    3. Register for freelance sites: Join freelance sites like UpWork, Fiverr, ThumbTack, Freelancer, etc. Take a scroll through the types of jobs on their sites, then finalize which area you would like to focus on.

    4. Create a pitch about yourself: Many of these freelance sites will ask you to write about your accomplishments, skills and share your job qualifications on your profile page. It can be awkward for some people to boast about themselves, but if you don’t share all the fantastic things you did, no one will know. Learn to be your own publicist. Be sure to include what you can do for prospective clients on your profile page and show previous success stories.

    5. Draft a template cover letter: You can quickly modify a cover letter for different proposals you want to apply for and make simple edits per job posting. This will save you a lot of time.

    6. Ask for reviews or referrals: On these sites, you can boost your chances of getting opportunities by asking peers, previous companies you’ve worked for or other side gigs you’ve had in relevant spaces to get their review of you on the platform. This builds your credibility and also builds potential clients’ confidence when deciding whether to talk and eventually hire you.

    7. Research price points: When putting yourself out there, there is always the question of how much you should charge for your skillset per hour or per project. On many of these sites, you can do some analysis of what others are charging for similar fields. Starting a little lower at first can help you break through to start building your freelance roster, and once you have a couple of reviews of current clients under your belt, that’s when you can move the needle up.

    8. Start applying and putting yourself out there: Once you find a side gig or two, you can really craft yourself, put your passions outside of your current career and start honing a path for yourself that will make you happy.

    Related: Do You Feel Unfulfilled in Your Work Life? Here’s How to Change That

    Whether you want to try this until you find your next job, need extra income or are considering freelancing as your new full-time job for more flexibility, these eight tips above will help you succeed. As Christopher Robbins says, “You are braver than you believe, stronger than you seem and smarter than you think.”

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    Mary Elkordy

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  • How Do You Keep Learning When You’re the Boss?

    How Do You Keep Learning When You’re the Boss?

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    Opinions expressed by Entrepreneur contributors are their own.

    Q: Since entrepreneurs are their own bosses, they don’t report to anyone with more experience. What’s the best way to continue learning and growing? — Elizabeth, Fort Lauderdale, FL

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    Adam Bornstein

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  • Hackers Aren’t The Only Unseen Enemy Behind Cyber Attacks

    Hackers Aren’t The Only Unseen Enemy Behind Cyber Attacks

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    Opinions expressed by Entrepreneur contributors are their own.

    The booming numbers of cybersecurity threats have compelled every C-suite executive and board members to pay closer attention to their cybersecurity hygiene. However, they don’t share the same lens while watching their information security posture. And here’s where a disconnect arises.

    A recent global survey of C-suite executives indicates that around 71% of board members have severe gaps in knowledge regarding cybersecurity and threats their organizations face.

    Whether we talk about data breaches compromising sensitive business information or exploiting consumer identities, executives and heads of information security (InfoSec heads) are already geared for the worst. But the senior management isn’t sure why they need to spend more on their cybersecurity budget.

    While InfoSec heads often emphasize security and risk management as a part of their job, board members often link cybersecurity as a part of their business but hardly consider it as one of the foundations of modern business success.

    Related: Learn How to Protect Your Business From Cybersecurity Risks

    As a result, their communication mismatches and challenges them to translate cybersecurity risks and potential business implications.

    In a nutshell, no matter how much they’re aware of cybersecurity risks and increasing threats, most board members can’t understand how cybersecurity and cutting-edge technologies translate into the underlying business risks.

    So, what needs to be done from an executive’s end to translate the risks? Let’s figure it out.

    Communicate risks of cybersecurity through effective storytelling

    The way you interact with your board leaders makes all difference. And effective storytelling is undoubtedly the best way to convince them.

    Though storytelling isn’t a new concept since humans have used it for centuries to convey a strong message, executives can leverage its true potential to help process crucial information.

    Stories have been a part of our lives from childhood, and various studies suggest that the human brain is wired for stories. And a compelling narrative could eventually evoke an emotional connection and change behavior and attitude.

    Now, while talking with your leadership while utilizing storytelling, you must ensure that you’ve done your homework to support your story to leave an impact. Otherwise, it would be good for nothing.

    Share some data and insights, and talk about the latest tools and technologies that can be incorporated into your processes that could make a huge impact. Moreover, depicting your competitor’s cybersecurity best practices can also help impact your board leaders.

    Also, you could use real-life examples of organizations that ignored their overall cybersecurity hygiene, which resulted in financial and reputational losses. This could be a great way to reinforce your opinion besides the story you crafted.

    Related: Harness the Power of Storytelling to Transform Your Business for the Better

    How to prepare for your conversation with board members

    As a board member, you need to be sure enough that you understand your board’s mindset to connect with them at an individual level. And it would be great if you could first know how they look at the importance of cybersecurity and threat management for the organization.

    Once you understand their perspective, it’s time to create your steps of action to convey your message and ensure they’re convinced that cybersecurity is an absolute necessity and not a luxury for your business growth.

    Here’s what you need to do before beginning a conversation with your board members:

    • Educate them about the latest compliances: Most of the time, your senior management isn’t aware of the latest data privacy and security compliances. And this could be the reason they aren’t in favor of stretching their cybersecurity budget. You must educate them regarding the latest compliances and the consequences of non-compliance. One great example is non-compliance with the General Data Protection Regulation (GDPR), which eventually lead to hefty fines and reputational damages.
    • Board member’s background research: Researching the background of your board members could be the first step to understanding their mindset and approach toward overall business growth. Analyze their past experiences, educational background and personality to ensure you hit the right chord while convincing them about cybersecurity and underlying risks.
    • Learn their goals and priorities: Another crucial step is to learn about your leader’s priorities and goals. Do they often think about organizational growth without increasing the overall security budget? Do they keep cybersecurity as a part of their business but not a priority? Is there any way they could relate to organizational growth through cybersecurity best practices for customers and employees? Once you’ve figured out these questions, the next step is to portray your version of information security and its direct impact on your business growth. And for this, you can leverage the latest stats, competitor data and data related to the latest breaches.

    And ultimately, your C-suite executives, like everybody else, would be convinced that cybersecurity hygiene is undeniably a foundational aspect of their business. It’s your responsibility to ensure you’re on the right track and narrating the right story through which they’ll relate and act.

    Related: Cybercrime Could Cost the World $10.5 Trillion Annually by 2025

    Final thoughts

    The modern executive’s role is undoubtedly predominantly people-focused. And getting trapped between highly technical IT staff and leadership that focuses on growth while making cybersecurity-related decisions could be an uphill battle.

    However, the key to business success without compromising security lies in incorporating cutting-edge technology that fosters growth, builds customer trust and maintains compliance.

    And a modern executive must navigate business success by convincing board members regarding the need for cybersecurity best practices to jump on the digital transformation bandwagon.

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    Rakesh Soni

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  • Why Investing in Art and Creativity Is Crucial in Today’s Economy

    Why Investing in Art and Creativity Is Crucial in Today’s Economy

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    Opinions expressed by Entrepreneur contributors are their own.

    There’s no denying that art inspires us and brings us joy. It bridges the gap between cultures and validates our experiences. Art is also part of a healthy community — and a healthy mind, body and soul. Science validates this. And yet, as entrepreneurs and business owners, we tend to think of art as “nice to have,” as something that’s not as important to the world as the other businesses we create. But the truth is, we need art and the artists who create art more than ever, especially in this economy. Here’s why.

    Art makes us feel seen

    Art validates the human experience. Through art, artists communicate their thoughts, ideas and emotions. They put those feelings out into the world with the hope that even one other person will be able to connect with them.

    When we open our minds and connect through art, we’re exchanging knowledge and thought on an intensely personal level, possibly with people who we never thought we’d connect with. Artists allow the door to open between cultural backgrounds; what they create can break down cultural barriers. Art can heal.

    Art bridges the gap between communities, creates empathy in situations where communications are strained and helps to remind us that, at the end of the day, we are all human beings with similar experiences, no matter what community we belong to or language we speak.

    Related: The Art of Investing in Art

    Art defines culture

    Art also preserves history. Think of everything one piece of art represents:

    • The time period in which it was made

    • The reason the artist created it

    • The medium and tools used

    • The public’s response to the piece

    All of these details (and more) paint a picture of a moment in time. Not only has art survived through time and traversed all around the world, but it also doesn’t discriminate amongst age, gender, race or status. Art explores every culture, every class and all spectrums of the human experience from childhood to old age.

    Culture can be studied through art and not just the famed artists that history favors, like your Da Vincis and van Goghs. Artists in every corner of the world, even the most unexplored or unthought-of places, can guide us through the culture their work represents.

    Related: Experiencing a Creative Block? Look to the Art on Your Walls for Fresh Inspiration

    Art is good for the economy

    As if art doesn’t do enough good for our health and our local communities, it also strengthens the economy. Really. Creative industries provide jobs, encourage tourism and boost revenue to local businesses. Labor studies also show that the value added by arts and culture to the U.S. economy is five times greater than the value from the agricultural sector.

    Fashion, film, television, performing arts, publishing, music — all of these creative industries and many more directly benefit our local and overall economies. These sectors even grew during the pandemic, while many industries struggled.

    Now that the point for supporting artists has been made, let’s talk about the how. Here are a few tips on how to support artists:

    Buy from the artist directly

    How can you support artists who have contributed to the world and made an impact on your life? The first and most obvious way, of course, is to buy art. More specifically, buy work directly from the artist rather than a distributor. Buying art directly without the middleman ensures that every penny you spend will support the artist directly.

    Keep in mind that the price of a piece of art not only reflects value, but time, effort and resources as well. If you’d spend a certain amount of money on a print of a famous artist’s work — one who might not even be living anymore — expect to pay a similar amount, if not more, for work from a living, breathing artist who is producing equally great work.

    You can’t catapult an already famous artist like Monet into much more success. Your purchase typically goes toward an estate or fund, which doesn’t impact Monet as a person. When you buy from a current artist, you’re directly investing in the artist’s future and career. You’re encouraging them to keep producing art.

    Related: Science Shows How Creativity Can Reduce Stress

    Vote with your dollars

    Another way to support artists is to vote. Vote to keep nonprofits and programs that value the arts, fund them and keep them alive. Despite all their benefits, the arts are often first to go when budgets are limited in schools and other facilities.

    Vote with your dollars, too. Voting with your dollars means to mindfully spend, invest or donate your money to causes you care about. Find people and organizations in the arts that you can support. Charity Navigator and GuideStar are great tools that can help you find nonprofits involved in the arts. Or look for a local business to buy from rather than a big box store or corporation that doesn’t need your money.

    Art is vital to our survival and well-being as a species. Despite everything that art provides, artists often don’t get the appreciation or support that they need. So, invest in creativity by becoming an art advocate, not just for your favorite artist, but for the future of artists. Let’s hope we never have to know what life would be like without art.

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    Jodie King

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  • 7 Signs You’re Ready to Transition from Employee to Entrepreneur

    7 Signs You’re Ready to Transition from Employee to Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    I recently had a call with one of my best friends who moved to to work for a big, multinational public company. She’s talented, successful and hardworking.

    Yet, she called me full of tears, anxiety and anger. “They are restructuring the company; they are cutting positions. My role is about to die.”

    I suggested that she apply for the same role in other ventures, companies that could offer multiple benefits, from remote working to stock options. I explained that with her talent, potential and ideas, she could even be self-employed through freelancing for various clients with contracts. She could chase her version of success and happiness. And she could probably end up with more money and even more freedom.

    “You don’t get it.” She said. “I don’t want to be nobody. I want to work for the top companies in the world.”

    Perhaps I don’t get it. But I also don’t get why talented, hardworking individuals like her want to throw their full potential into hierarchy and politics for prestige. Why do they let their companies fill them with stress, ruin their day, restrict their career options and define their value?

    Related: 7 Signs It’s Time to Transition From Employee to Entrepreneur

    Don’t get me wrong; there are plenty of great people acknowledging their worth and consciously choosing to advocate the employee’s mentality. They are okay with that.

    But if you’re fed up with the corporate world, feeling like it’s limiting your options in life, and wondering when is the to leverage your skillset and make a transition, it’s probably now.

    Here are seven signs you no longer have an employee mentality.

    1. You’re in love with the idea of working wherever and whenever you want

    Flexible work hours and location independence started becoming the norm after the pandemic in 2020. You proved to your employer that location doesn’t affect productivity and that a strict 9 to 5 workday could burn you out instead.

    And while many companies allow work-from-home days and a flexible working schedule, you still have to report your location and total work hours.

    However, with an entrepreneurial mindset, complete location and time flexibility is your dream; you know the only way to achieve that is to fully own your freedom by creating your income stream instead of expecting a .

    Related: Remote Work Is Here to Stay: Are You Ready for the New Way of Life?

    2. When in meetings, you’re daydreaming instead of participating.

    The average employer spends at least 3 hours weekly in meetings, with 30% reporting that they spend over 5 hours weekly.

    And instead of actively participating in that meeting, you’re contemplating how to avoid the next one so you can work on something instead. You know you could be spending your time in a more fruitful way than attending company meetings, but there’s nothing you can do about it.

    Someone more senior requested your presence; you have to be there. So there you are, visualizing how you can escape this misspend of your hours, wasting time while time is money.

    Related: Your Time Is Money, So Stop Wasting It

    3. You absolutely despise titles and hierarchy.

    When having an employee mentality, you get so caught up in titles. You fool yourself with pride, showing off on , gossiping about others’ abilities, and jealously spreading your best wishes to the colleagues who claimed the C-titles first.

    When you are a business owner, you laugh at job titles. You want people to work with you, not for you. You also know that a title cannot determine your worth. Anybody can go on Linkedin and claim that they are the CEO or an executive member of a 5-people company.

    What does that even mean?

    Fancy titles in corporate jobs almost always equal less freedom, less time to work on your relationships with others and less time to spend with your kids before they become adults.

    C-titles while climbing the corporate ladder also mean less time to invest in your self-care planning, wellness, and personal skills and less time to enjoy life.

    4. You’re testing multiple side hustles after or before work.

    With an employee mindset, you look at the clock at quarter to six and know it’s time to shut down your laptop and get on with your day.

    And while maintaining a work-life balance is crucial, as a business owner, you are continuously testing concepts and trying side hustles to build multiple income streams whenever you can. You don’t depend on one client, idea or salary, but you’re willing to test, take risks, fail and start over.

    Related: 4 Creative Side Hustles That Fight Inflation and Earn Extra Cash

    5) You’re not afraid of building relationships from outreach.

    As an employee, you are terrified of cold pitches. You are not fond of being rejected or ignored because that usually happens. You don’t attempt to reach out to others unless you’re selling something; in that case, you face outreach as a transaction, not a relationship.

    However, as an entrepreneur, you know that expanding your systems by connecting, advising, or simply interacting with others is one of the most vital steps in building a personal or professional brand.

    You don’t underestimate the power of community and networking; you aim to create daily connections with one or two new people in your industry. In one year, you are astonished by your reach and the ways your network proved helpful.

    6. You know that building passive income and making money online is 100% possible.

    When having an employee mentality, you don’t care about investing or building a passive income online. Even if you care, it strikes you as too-good-to-be-true, and you don’t bother putting effort into creating a diversified portfolio.

    On the contrary, when you have entrepreneurial tendencies, you get excited about passive income ideas and turn your world upside down to build an online income.

    Creator’s is not a too-good-to-be-true scenario nor a get-rick-quickly scheme. It’s an available reality with no barriers to entry, and as a business owner, you like that challenge. You know that spending an x amount of time creating the tiniest passive income stream can yield 10x results in the near future.

    They know they must find what they enjoy creating and work on it daily.

    7) You’re constantly enriching your knowledge and skillset to increase value.

    You are exchanging your skills and experience with payable work hours as an employee. However, as an entrepreneur, you offer your skillset, idea or business as a service that solves problems and delivers value.

    You don’t charge by the word, hour, or month. You charge according to the advantages and utility of your solutions. You answer questions and deliver results. And because your expertise is directly related to the value and results you deliver, you’re working daily towards improving and enriching it.

    Final thoughts

    Perhaps you’re not 100% ready to escape the rat race. However, if any of the above signs hit true, you know it’s time to start owning your career and follow a path you can fully control.

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    Maria Dimitropoulou

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  • I Quit My Job Last Year and Have Made More Than $300,000

    I Quit My Job Last Year and Have Made More Than $300,000

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    Opinions expressed by Entrepreneur contributors are their own.

    When I left my job as a consultant in October 2021, I had never made more than $5,000 per month from my business.


    Courtesy of Clo Bare Money Coach

    In fact, when I made a plan to leave my 9 to 5, I had an honest conversation with myself about whether or not I was okay with the possibility of only making $60,000 per year as a money coach — less than half what I was paid at my consulting gig.

    And my answer? Absolutely.

    As a 31-year-old millennial who graduated college with around $80,000 of for a degree in English and Spanish, I never would’ve dreamed I’d be able to someday consider taking a pay cut to quit my job and go full-time with my business. In fact, prior to 2018, I was still living paycheck to paycheck, knew nothing about investing and assumed I’d work the rest of my life.

    You see, I grew up believing I was just “bad with money,” like it was some character flaw you were either born with or without. I’d seen my parents struggle with credit card debt, furloughs during the Great Recession and the unending stress of living paycheck to paycheck while raising five kids. I thought struggle was normal, especially when it came to money.

    I started working at the age of nine to have a little spending money and hoped I’d someday do better, but money always burned a hole in my pocket, no matter what I did.

    I kept telling myself if I just had more of it, things would be fine.

    Spoiler alert: No matter how much money I made, it never fixed the problem of my overspending.

    It wasn’t until 2018, after spending most of my 20s without an emergency fund, overspending, not investing and thinking I’d die with student loan debt, that I decided it was time for a change.

    Related: Instead of Panicking, Deal With Your Student Loans Like a CFO Would

    I started learning about the debt-free community, which led me to the FIRE (financial independence, retire early) community, and eventually I thought, Why not me? Why not at least try?

    Well, I’m glad I did.

    Not only do I now know the peace of financial flexibility and a retirement savings that I’ve already invested enough in to have millions by the time I retire even if I don’t invest another dollar, but it also led me to something I never expected.

    I started writing about budgeting and investing online, which led me to creating content on and TikTok, which led me to become who I am now: a multi-six-figure business owner.

    But this time last year?

    I was just excited to even be able to consider quitting my job to pursue my passion of teaching people about money full-time.

    So, with a year’s emergency fund saved and a solid $5,000 from one-on-one filtering into my bank account each month, I went off into full-time entrepreneurship land.

    Last month was my one year anniversary, and I did not make $60,000.

    The gross revenue I made from my first year as a full-time business owner was $305,000 with about $45,000 of expenses.

    How did I do it?

    By recognizing I had to scale, bringing in an expert and focusing on one funnel and one product.

    Recognizing I needed to scale

    When I quit my job, almost 100% of my income came from one-on-one coaching. In fact, during my first month of full-time business ownership, I had 60 coaching calls, with more than half of the calls lasting two hours.

    By the end of the first week, after 17 coaching sessions, I was already losing my voice, and feeling drained and discouraged.

    I knew I couldn’t keep up with that kind of grueling schedule, so I increased my prices in October and again in December, thinking it would lighten the load without really impacting my income.

    I was wrong.

    By the end of the year, I charged $499 for a two-hour session and $299 for a one-hour session — but no matter how many times I increased my prices, I still sold out within 24 hours of announcing openings in my coaching calendar.

    The coaching clients kept rolling in, and I had a hard time saying no to the emails requesting help as soon as possible or clients who needed another follow-up call. So, despite trying to manage my client load, I’d always end up with more than I could handle. Between October and December that year, I ended up coaching nearly 150 people.

    I was exhausted and already burned out, just two months into full-time entrepreneurship.

    Then, one day while lying on the couch to close my eyes for three minutes before the next coaching call, it hit me: I needed to scale. At the rate I was going, I’d be back in corporate in three months. I was capped, and despite wanting to help more people, my system at the time was unsustainable.

    I needed to find a way to move beyond selling my time. But I had no idea where to begin. That’s why I decided to bring in an expert.

    Related: 5 Marketing and Branding Tips to Scale Your Online Business

    Bringing in an expert

    Scaling beyond coaching was new territory for me, and although I’d seen other creators create courses and digital products, I wanted to make sure I was doing what was best for my business.

    When I started shopping for a business coach, I was nervous because there are so many problematic business coaches who teach people how to run a business despite never having run a business before. I wanted someone I could trust, and who I knew had worked with people in a similar niche, with similar goals.

    After doing my research, I decided to hire a well-regarded coach who had helped the giants in the space scale to multi-six-figure — and even seven-figure — businesses. She’d be the person who would teach me how to launch a course and build a funnel.

    By working with my coach, I was able to go full-speed ahead and avoid a bunch of mistakes I would’ve made trying to do it all myself — mistakes that would’ve cost me time and money.

    Investing $2,000 into my business resulted in my first product launch bringing in $35,000 — but I would’ve never gotten these kinds of results if I hadn’t hired my coach and implemented a funnel.

    Related: 10 Reasons Why You Need a Business Coach

    Implementing a funnel

    I did not know what a funnel was when I quit my job, but my funnel was the single most important investment I made in my business.

    A funnel allowed me to make sales without doing anything — no posting, no DMing people, no going live to push the sale.

    Instead, I was able to get people into my funnel and let the funnel do its automated magic.

    Here’s how my funnel worked:

    1. Instagram or TikTok followers would sign up for a free guide.
    2. The free guide would invite them to my free class.
    3. The free class would have a small pitch for my course, and all registrants would be put into a sales funnel of emails for the next 2-5 days.

    Keep in mind: At each stage, I was providing more value.

    My funnel made me sales even while I slept. No posting. No exhausting my followers on all my accounts to get in on the sale. My emails were set up to do it all for me so I could spend my time doing other things to build my business.

    The emails people received after signing up for the free class addressed their concerns, answered most frequently asked questions, shared testimonials and painted the appealing picture of what their life would look like after they completed the course.

    I’ve come to view my funnel as a relationship builder.

    So many content creators create a course or digital product and push it out to their audience without a funnel. They just put it on sale and hope people from their Instagram or TikTok will buy it because it exists. If you build it, they will come, right?

    Not exactly.

    We have to nurture the relationship, and an Instagram follower is at a much different stage than an email subscriber or someone who has downloaded your free guide and attended your workshop.

    We have to provide consistent value that builds trust with our ideal audiences. Going straight for the killshot of “Hey, buy my product” would be like asking for a job without having ever applied or submitted a resume. You need to date your leads and nurture them by providing value.

    Focusing on perfecting my funnel has allowed me to zone in on what is and isn’t working, understand my audience better and not get distracted by the shiny-object syndrome that so many new entrepreneurs face.

    Related: 5 Steps to Building Your First Online Sales Funnel

    Focusing on one product

    Focusing on one product also allowed me to scale for several reasons.

    First, it allowed me to streamline my messaging to my audience to make sure they were never confused about what I have to offer. I wanted to guarantee people went to my page and saw immediately what I specialized in: lazy investing. Not a little bit of lazy investing with some debt pay off, credit repair and budgeting sprinkled in. I want my audience to come to my page and understand exactly how I can help them.

    Think about the last time you were shopping for a service: for example, a person to clean your home.

    If you came across someone who had a list of services that included lawn care, car detailing, oil changes, handyman services — and oh yeah, they’d also clean your home for you — you likely wouldn’t choose that person over someone who made it clear that cleaning your home was the only thing their business did.

    Focusing on one product also helped me master the product, which only made my confidence in the product stronger and, in turn, allowed me to sell with ease.

    When we know without a shadow of a doubt that our products solve the problem we say they do, selling becomes simply highlighting the problem and explaining how our product is the solution.

    I don’t think I could’ve made as strong of a course had I not focused on only that course in the last year. Every month I added to it, tweaked, surveyed my members and found new ways to improve it. And the result is more than 500 happy customers who are now out there building wealth on their own.

    We all know how overwhelming and stressful it can be to manage a million different things: coaching, courses, digital products, group coaching and the list goes on. The mental space and clarity that come with focusing on one thing is something I’ll continue to prioritize as I build out more products in the future.

    Related: 3 Things You Need to Know About Launching a Product Business

    So, what’s next?

    Now that I’ve worked on The Lazy Investor’s Course and its funnel for a year, you might be wondering if I’m moving on to something new.

    But in 2023, I plan to continue to perfect the funnel and my offer. Because even though I’ve made more than $300,000 from my business so far, I know I can still make improvements. So I’ll continue to refine this one offer I have until I’m confident I’ve squeezed everything out of it that I can.

    And then — and only then — will I move on to the next thing.

    As my friend Allison Baggerly said in her keynote at Fincon this year: simple scales.

    And for me?

    Simple allows me to maintain a level of sanity and make sure I don’t burn out.

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    Chloé Daniels

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  • A Guide to Consolidation Strategy in Acquisitions

    A Guide to Consolidation Strategy in Acquisitions

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    Opinions expressed by Entrepreneur contributors are their own.

    The search fund model is a method of investing that enables entrepreneurs to take a unique path to . It is structured to help searchers (entrepreneurs who engage in the search fund model) acquire, operate and scale an existing business instead of building one from scratch.

    By offering a rapid path to business ownership, and CEO status, search funds have created a new breed of entrepreneur — those who embrace the notion of plug-and-play.

    A critical factor in the search fund equation is the economic upside searchers could see for their efforts. Historically, this has meant a 32.6 % internal rate of return and a 5.5x multiple on invested capital.

    Related: How To Find Success During Search Fund Launches

    Value creation

    With competition brewing in the form of fellow searchers and even some traditional funds showing interest in acquiring smaller businesses, how do searchers achieve their edge? They look towards combining two or more companies with synergies in size, geographic coverage, key personnel or supply-chain advantages — in other words, a consolidation.

    Programmatic mergers and acquisitions (M&A), according to McKinsey, “remains the least risky approach with the smallest deviation in performance and the largest share of companies that generate positive excess total returns to shareholders (65%)” when compared to large one-off transactions, selective deals or organic growth.

    What does this mean for searchers competing at the smaller end of the enterprise spectrum? It represents an opportunity to bring the tailwinds of M&A-based growth further downstream, and to industries it has yet to touch.

    However, in a survey of 185 Through Acquisition (ETA) businesses purchased by graduates in the past decade, only 8% have implemented a consolidation strategy of buying multiple businesses in the same industry vertical.

    Challenges

    The timeline and structure of search acquisitions are often limited to two years. Additionally, searchers are often freshly minted MBAs with limited operational and M&A execution experience, which makes adding an additional business target to acquire a daunting task. However, the benefits vastly outweigh the possible downside.

    Related: Search Funds: What You Need To Know About This Investment Model

    Advantages

    With this business strategy inherently being an operational play, key considerations when looking for a second (or more) target could include financial and further operational synergies in the form of:

    • Capital structure improvements from the combined larger size of the businesses
      • Ability to take on additional debt at a lower rate
    • Capital intensity reduction
      • Shared fixed assets, working capital and capital expenditures
    • Margin expansion from greater purchasing power and unit economics
    • Valuation multiple arbitrage
      • In a similar vein to “greater than the sum of its parts,” businesses when combined, often command a higher value than if they were to stand alone

    Related: Data Security and the Downside Risk of M&As

    Picking an industry

    With that, what can searchers do to further de-risk a search consolidation? The answer to this lies in a refined thesis. Searchers with a background operating in a specific industry (i.e., healthcare) have an inherent advantage in launching a search with a focused thesis.

    Finding an industry to commit to can be challenging for those with multiple passions. However, the following markers could indicate the right fit:

    • Fragmented industry landscape (i.e., medical, dental, and veterinarian practices)
      • Industries in which business owners primarily operate a single entity or location
    • Mature and standardized industry operations
      • Businesses that have relied on tried and tested practices over the years
    • A large number of companies
      • Many businesses serve a similar customer profile but in different geographies
    • A large number of companies within the target enterprise value of the fund
      • Understanding the average value of a business in a target industry can help filter out opportunities that are either too small or too large
    • Historically stable growth and sustainable profit margins
      • Businesses that have operated profitably for many years and serve customers who have (if B2B based)

    Picking a business

    Zooming in a layer deeper, companies characteristic of success in the search consolidation model touch on a combination of the following elements:

    • Competitive industry advantage
      • intellectual property, proprietary software, etc.
    • Seller motivated to exit
      • retirement, change in a succession plan, career transition, etc.
    • Historically stable recurring revenue
    • Strategic avenues for growth
      • geographic expansion, marketing strategy, recruiting key personnel, etc.
    • Alignment with the financial mandate of the search fund
    • Viable exit vision over a five to seven-year horizon

    Eight percent is a small but growing fraction of the ETA community that has chosen to tread the path of consolidation. As more seasoned operators and mid-career searchers get involved, the odds of a consolidation strategy becoming more commonplace is only set to grow. This next wave of search fund entrepreneurs could bring revolutionary methods in creative financing, operating and growing businesses — a win-win for budding entrepreneurs and seasoned operators alike!

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    Karl Eshwer

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  • This Pitch Scored a $250,000 Investment — And It Almost Didn’t Happen

    This Pitch Scored a $250,000 Investment — And It Almost Didn’t Happen

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    Entrepreneur Elevator Pitch is the show where contestants get into an elevator and have just 60 seconds to pitch their business to a video camera. Our board of investors is watching, and if they like what they hear they open the doors and the entrepreneur steps into the boardroom to try to seal the deal. If they don’t like what they hear, the entrepreneur gets sent back down.


    staff

    In this ongoing article series, we’re celebrating the entrepreneurs who walked into the boardroom and came out with a win and sharing their tips for pitching success.

    Who are you and what is your business?

    I’m Alicia Tulsee, founder of Moxie Scrubs, the first direct-to-consumer lifestyle brand for nurses. I went on the show seeking $500,000 and walked out with a $250,000 investment from Kim Perrell.

    How did you prepare for the show?

    I sought the help of our existing investors to come up with a one-minute pitch that would hit all the key points, such as total addressable market (known as TAM), customer acquisition costs (known as CAC), average order value (known as AOV), and key performance metrics such as repeat purchases and product return rates. Also, they wanted to know why and how our product is different from what’s out there in the market today and how it addresses our customer’s pain points.

    We also set up times to go through mock questions and answers to prepare me for any questions we believed investors would like to know after hearing my one-minute pitch for the first time. Once we came up with a pitch that hit all the highlights we agreed on, I practiced it nonstop — while brushing my teeth, reciting it impromptu to my husband when waking up in the middle of the night, cooking dinner. I practiced so much that I could repeat it in my sleep at the drop of a hat! This is exactly what you have to do when your one-minute timer starts counting down.

    Related: Watch the Pitch That Landed a $175,000 Investment

    What did you think was going to happen? What was different from your expectations?

    I honestly had no idea what would happen or what to expect. Nothing could prepare you for how intense the moment is when it’s your turn to give your one-minute pitch: The entire set is pin-drop silent. All eyes, ears and lights are on you. And you get no retakes. All you have is this one 60-second moment to pitch. While it was one of the most intense experiences of my life, I’m happy to share that the whole experience was better than I could have imagined. The entire crew was friendly, helpful and just really great people/ I appreciated their kindness and helpfulness so much because I had a tough time getting to Fort Lauderdale (where the set is) from Boston. I was rerouted to Miami, which is an hour away from Fort Lauderdale by car, my flight was extremely delayed, and I ultimately didn’t get to my hotel until 1 a.m. the day of filming. I was so exhausted from what was already a very intense week. I woke up a few short hours later at 5 a.m., did my hair and make-up and was the first person at the studio, camera ready at 6:30 am. When they said to be prepared for a 10-hour shoot day, they meant it. Even though I did not know what was going to happen throughout the day, all of my preparation, the support from the staff leading up to my turn to pitch, one large cup of coffee, two shots of espresso and a can of Red Bull paid off — I had victory!

    Related: She Flew Around the World to Make This 60-Second Pitch

    Why do you think they opened the doors?

    It’s hard to encompass all your hopes and dreams as an entrepreneur and all of the unique wonderful nuances of your business into a one-minute pitch. I know that investors want to know the key metrics that demonstrate why they should care about your business and why you’re motivated to do what you’re doing. I included the big takeaways from these areas in my pitch and believe that this is what made them want to learn more. For example, I demonstrated our path to profitability, metrics that proved customers love our product and backed it up with what makes Moxie Scrubs the best in the market.

    How did the negotiations go? Would you do anything differently?

    When I received an offer from Kim Perell, I was thrilled. Kim is the investor I went into the show wanting on my team. She knows exactly what it takes as a female entrepreneur to grow and scale your business. Kim built her business from scratch and understands what it’s like for the everyday American with a dream. There was nothing to negotiate because I know the value that someone like her will bring to any company. If you couldn’t already tell, I greatly admire her.

    What do you plan to do with your investment?

    This investment will be used to fund inventory costs and marketing, both essential to scale Moxie Scrubs and take our business’s impact to the next level. We are excited to grow our business with Kim Perell’s mentorship and support and make a huge difference in the lives of every single nurse across the country.

    Related: You’ve Got a Great Invention. Now How Do You Get People to Buy It?

    What did it mean to you personally to get in the doors and walk out with a win?

    As an entrepreneur, every statistic is working against you. As a female minority entrepreneur, the statistics become even worse. Getting through the doors and walking out with a win was proof to me and the world that I have moxie and will continue to defy every statistic that says people like me should not succeed. It was so gratifying because when one woman succeeds, all of us succeed. I found myself saying that Dr. Seuss quote, “Oh the places you’ll go!” in my head all day. This is, in my opinion, the most beautiful thing about entrepreneurship: Entrepreneurship allows you to take your life in directions you would never think could be possible. And it’s even more beautiful when your business helps to improve the lives of millions of people across the country. I feel so grateful that I get to build this amazing brand that supports nurses where they need the support the most. Walking out with a win made me more determined to continue doing what I am most passionate about — supporting nurses.

    What is your advice for anyone thinking of applying to be on a future episode?

    Go ahead and do it. You miss 100% of the shots you don’t take! And my next piece of advice would be: Don’t wing your pitch. Practice. Practice. Practice. You never know what might happen and when things don’t go as planned, your preparation will be all that you have to fall back on. And lastly, please arrive a couple of days early!

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    Entrepreneur Staff

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  • How I Secured a Top Advisor for My Company in 60 Seconds

    How I Secured a Top Advisor for My Company in 60 Seconds

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    Entrepreneur Elevator Pitch is the show where contestants get into an elevator and have just 60 seconds to pitch their business to a video camera. Our board of investors is watching, and if they like what they hear they open the doors, and the entrepreneur steps into the boardroom to try to seal the deal. If they don’t like what they hear, the entrepreneur gets sent back down.


    staff

    In this ongoing article series, we’re celebrating the entrepreneurs who walked into the boardroom and came out with a win and sharing their tips for pitching success.

    Who are you and what is your business?

    My name is Archie Clay III. I’m the co-founder and CEO of the luxury hat and accessories company WEAR BRIMS. We are disrupting this mature industry and reimagining how luxury feels inside and out. I walked out of Elevator Pitch with a deal with Nicole Walters, CEO of Inherit Learning Company, who is going to be my advisor and mentor.

    Related: She Brought a Baby to the Boardroom While Asking for $1 Million. There’s No Way That Worked…Right?

    How did you prepare for the show?

    The preparation for this show really focused on just being confident and doing my best. I practiced every single day with family, friends and my team, but most importantly I put everything in the hands of God! He truly prepared me for this amazing opportunity.

    What did you think was going to happen? What was different from your expectations?

    I honestly thought I was going to kill my pitch because of my preparation, but that didn’t go as planned. But as I stated, God had my back and allowed me to make it to the next level and get a deal.

    Your pitch won over investors, and they voted to open the elevator doors. Why do you think they let you in?

    I honestly think they opened the doors because they saw my passion, perseverance and hustle to be the best. And they saw that even when I messed up my pitch, I didn’t stop and continued to push forward.

    Related: You’ve Got a Great Invention. Now How Do You Get People to Buy It?

    How did the negotiations go? Would you do anything differently?

    I think the negotiations went well. I think that I could have been a little more aggressive, but I do believe that the deal I got was what God provided for me.

    What do you plan to do with your investment?

    I plan to utilize the investment to help us create a better strategy around our marketing and influencer strategy for 2023 and beyond.

    What did it mean to you to get in the doors and walk out with a win?

    Man, the feeling was amazing. The fact that I completely messed up my pitch and still was able to recover then walk through those doors and still get a deal? Simply amazing.

    Related: This Is the No. 1 Mistake You Can Make When Pitching Investors

    What is your advice for anyone thinking of applying to be on a future episode?

    Do it. Don’t be afraid to step out on faith and show the world what you’ve built. This was an amazing experience, and I’m super glad that I did it.

    New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.

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    Entrepreneur Staff

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  • 5 Crucial Lessons Entrepreneurs Can Learn From Traveling the World

    5 Crucial Lessons Entrepreneurs Can Learn From Traveling the World

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    Opinions expressed by Entrepreneur contributors are their own.

    Any could tell you that the road to success is paved with blood, sweat, tears and many lessons learned. While you can learn some of these lessons from home, there is a level of personal and business growth that can only come from traveling to new places.

    According to the Brightpark Edu- report, 94% of U.S. business leaders believe that world travel gives them a competitive edge in the workplace. From opening your eyes to different perspectives to learning how to effectively communicate with people from all walks of life, travel offers a broad spectrum of valuable benefits for entrepreneurs everywhere. Here are five crucial lessons entrepreneurs learn while traveling:

    Related: Why Travel Should Be a Top Priority for Every Entrepreneur

    1. Traveling teaches you to be open to the unexpected

    Starting a new business venture comes with a lot of ambiguity. After all, you’re signing up for a truckload of the unpredictable. Will the business succeed? Will this year be a good one? Can I trust this investor? Is this the right move? Embracing the unpredictable can be a tall order, but doing so will afford you a much better chance at success.

    Traveling can be brutal at times. You’re forced to say goodbye to the comfort of your home and family, you have to trust strangers along the way, and you are constantly off balance as your mind and body adjust to a new time zone, new surroundings and new people.

    When you travel, you quickly learn that it’s imperative to be open to the unexpected. There are many variables in travel that cannot be controlled, and how you react to those challenges will determine how you can move forward — just like in business. As an entrepreneur, you must be open to the unexpected. Traveling the world is a fantastic way to learn that lesson early.

    2. Traveling can prevent burnout

    Taking calls or responding to emails when you should be sleeping doesn’t make you a better entrepreneur. On the contrary, devoting every minute of your existence to your career can actually prevent you from reaching your full potential and lead to burnout early on.

    Sleep deprivation has several adverse effects on your body, including:

    Lack of sleep will eventually catch up with you, causing you to hit a wall both physically and mentally. The effects of workplace burnout are real and can significantly hurt your chances of success. Likewise, stress and sleep deprivation can be detrimental to your business growth.

    Leading a healthy lifestyle is essential for entrepreneurs seeking success, and sometimes this means taking some much-needed time off to avoid burnout. Taking a vacation can give your mind and body the break they crave while allowing you to get a fresh perspective in a new environment. Traveling gives you time to reflect, come up with new ideas and gain focus.

    Burnout can quickly become the nail in the coffin for a hopeful entrepreneur, especially since it commonly leads to poor decision-making in the workplace. If you are feeling excessively fatigued, stressed or irritable, it may be time for you to hit the road for a refresh.

    Related: 5 Reasons Why Travel Should Be an Essential Part of Building Your Business

    3. Traveling gives entrepreneurs new ideas

    Traveling to new destinations around the world is an incredible way to benefit from the shift in perspective that can only come from experiencing different cultures and places. As entrepreneurs, we never stop searching for new ideas and business solutions.

    When you explore somewhere new, you gain a new understanding of what people in different parts of the world are interested in and what they worry about from day to day. If you’re stuck creatively or looking for inspiration, traveling abroad is the best way to form new ideas.

    Well-traveled people are more likely to think outside the box since their thoughts and beliefs are constantly being challenged. A curious mind is a creative one, and sticking to your daily routine forever is bound to lead to an eventual drop in productivity and innovation.

    4. Travel teaches entrepreneurs how to form valuable relationships

    During our daily lives, much of our communication is limited to colleagues, friends and family. When you travel, you’re forced to step out of your shell and communicate with strangers in all sorts of situations. It could be the man sitting next to you on the plane to , the hotel manager in Prague or the waitstaff at a sushi restaurant in .

    These immersive experiences cause a mental shift to occur as you converse with people from different backgrounds, participate in new adventures, try new foods and adjust old habits. While it may not seem like much at the time, learning how to connect with different types of people and embrace new connections is a valuable lesson that will prove to be beneficial in the workplace.

    Your opinions and beliefs are re-evaluated when you travel. The more you learn about how others live and think, the more open-minded and curious you become. When your mind is flexible and void of rigid ideas about the world, it’s much easier to connect with those around you.

    As you gain insight into unique cultures and the common struggles of people in various parts of the world, you learn more about how you can support different people through your business ventures. The more you travel, the more you stray from your comfort zone, leading to a powerful transformation into an entrepreneur who is more willing to take risks and try new things.

    5. Traveling teaches entrepreneurs how to use body language effectively

    You have less than seven seconds to make a first impression. In business interactions, making a positive first impression is crucial. Once someone labels you — whether it’s as trustworthy, suspicious, powerful or submissive — everything you do is viewed through this lens.

    While it’s impossible to stop anyone from making a snap decision about you, you can use effective body language to sway the decision they make in those first few seconds after meeting you. It is widely believed that non-verbal cues are significantly more influential than verbal cues.

    Past studies have found that individuals who communicate through active gestures are generally perceived as warm, energetic and agreeable. On the other hand, those who remain still or whose gestures are more likely to come off as stiff or robotic are viewed as cold, dull and analytical.

    When traveling to foreign places where you don’t speak the language, you’re forced to rely more on nonverbal cues to communicate with those around you. By researching the culture ahead of your trip, you can determine how to use body language to your advantage. This knowledge can later be used in the workplace to help form positive interactions with peers and clients.

    Related: Traveling the World Is an Adventure That Makes You a Better Entrepreneur

    Travel offers a staggering number of benefits to anyone, but entrepreneurs are uniquely capable of turning these benefits into actionable ideas and solutions. Plan a trip — maybe even one without a set travel itinerary — and write down everything you learn during the journey.

    You might just be shocked by how many fresh ideas you bring back home. Perhaps you’ll even be inspired to start a whole new business. After all, variety is the spice of life, and what better way to discover variety than by exploring the world?

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    Kareem Dus

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  • Avoid These 4 Mistakes When Raising Venture Capital

    Avoid These 4 Mistakes When Raising Venture Capital

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    Opinions expressed by Entrepreneur contributors are their own.

    Founders who raise venture capital tend to focus on optimizing around four things:

    • Getting to the next round of funding as quickly as possible

    • Increasing valuation

    • Maintaining their reality distortion field

    • Attracting and retaining employees who are motivated by potential value rather than the current mission

    Notice that there isn’t anything on that list focused on what it takes to build a great business. Focusing on short-term outcomes and motivations can lead your startup down a dangerous path. Here’s how to avoid these pitfalls.

    Related: The Basics of Raising Capital for a Startup

    1. Don’t set an arbitrary deadline for your next fundraise

    When you raised your last round of funding, you probably expected that you would be ready for your next fundraise in 18-24 months. As that timeframe approaches, you might feel pressure to raise again from your board and current investors who are worried that you’re not making enough progress. If you succumb to this pressure before your startup is ready, you’re likely to increase spending to chase vanity metrics and top-line growth, even as your core metrics suffer and cash burn accelerates. You’ll quickly lose sight of product-market fit and pull precious resources away from potentially higher-value initiatives that need more to play out.

    Set key milestones that will support another round of funding. React to data that suggests your original assumptions were off, and give yourself time to find a better growth path. Leave room for the possibility that your startup won’t reach venture scale, recognizing that it could still be personally and financially rewarding. Don’t treat getting to your next round of funding as a Hail Mary pass. The concept of “go big or go home” sucks if you’re the one going home.

    2. Avoid over-emphasizing valuation

    Founders often over-emphasize the importance of valuation, particularly in the early rounds of funding. Focusing on maintaining or increasing valuation when your business hasn’t achieved the proper milestones leads to longer fundraise cycles, putting your startup at risk. You might save yourself from some dilution only to end up with worse economics and less control in the future. Higher liquidation preferences, ratchets and valuation hurdles can limit future options if you need to raise or sell. And you’ll be more likely to attract mercenaries focused on maximizing their economic outcome rather than missionaries who believe in you and your vision.

    What’s more important than maintaining or raising your valuation? Adding high-quality investors who can best support you through the ups and downs of building your startup. Manage your cap table to protect the future economic outcome for you and your team and keep as many options open as possible.

    When it comes to startups in distress, valuation gets the headlines, and liquidation preferences and other investor-friendly terms get the cash. A flat or even a down round isn’t the end of the world if it keeps you and your team in the game and your future options open. Play the long game when it comes to valuation.

    Related: How a High Valuation Can Run Your Business Into the Ground

    3. Don’t get trapped by the reality distortion field

    Founders have to believe in opportunities that others often can’t see. It’s the fuel that powers you through obstacles and allows you to leap into the unknown. But that power to believe can also be a trap when your best-laid plans run awry and your startup isn’t hitting your milestones.

    Too many founders believe that they must put on a brave face for their employees, their board and the press, regardless of their startup’s struggles. They worry that any crack in the perception of inevitability would lead to the downfall of their startup. That’s the trap.

    You can truly believe in the future opportunity ahead of you while being honest about the roadblocks and challenges on the path to getting there. If you don’t open up to your employees about where your startup is falling short, you’re no longer aligned, and they won’t solve the right problems or exploit the most important opportunities. If you hide challenges from your board, they can’t help you along the way, and they will pull back when you surprise them with bad news.

    4. Hire missionaries, not mercenaries

    Sixty-five percent of VC-backed startups fail to return 1x of capital. When you hire employees, if you overemphasize the potential value of stock options in their compensation package, you risk attracting mercenaries that are more motivated by the potential of future riches than in helping you realize your vision.

    Even for the most successful startups, the path to creating real value in your equity is never straight up and to the right. Mercenaries will jump ship at the first sign of trouble, in search of the next startup that might be on a stronger path to the mythic unicorn status.

    Hire people who, first and foremost, believe in your vision and are excited about the challenges you’re trying to solve. It’s easier to step outside your reality distortion field when you have a team ready to grab an oar and row in the same direction. You will face this moment. Who will be in the trench with you? Who will be the first to jump out and run away?

    Related: How to Get Funding: The Dos and Don’ts of Raising Capital From Investors

    When you jump on the venture capital flywheel, you instantly feel the pressure to shorten your time horizon, thinking only of the next fundraise and the to get there. Short-term execution is critical, but don’t optimize your decisions around the fundraise cycle — or you’ll miss the long-term goals that help you build something great.

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    Eric Ashman

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  • 5 Lessons I Learned From Starting a Company at 19 Years Old

    5 Lessons I Learned From Starting a Company at 19 Years Old

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    Opinions expressed by Entrepreneur contributors are their own.

    I had no intention of creating my own software company. I was kind of forced into it. You see, a few years ago, I was a full-time YouTuber. All was well until my channel got demonetized. This means that I was making $0 from the ads being placed on my videos.

    There was a point where I was getting 2-3 million views a month on my channel and didn’t receive a penny. As a way to bounce back from this low, I decided to put my life savings ($5,000) into starting a creator economy software startup at 19 years old. I dropped out of college to work on my SaaS startup full-time, and I have learned valuable lessons along the way. Here are five of the most important lessons I have learned so far:

    Related: How to Start and Grow a Business: A Digital Guide for Young Entrepreneurs

    1. Done is better than perfect

    I had no experience in coding — let alone creating and growing a startup. Despite these challenges, I 100% believed in my . Backed with a proof of concept, I was willing to do everything within my limited budget to turn my SaaS idea into a reality.

    With a well-written vision and lots of persistence, I was able to find a good developer overseas that not only fit my budget but believed in my vision for Trend Watchers.

    We still work together to this day. The first versions of Trend Watchers were hideous, but over time, the UI/UX slowly improved. When I look back at my journey from a point of view, I should not have made it this far. I went through so many setbacks and hurdles. I should have quit back at the start line, but by having a great vision and team mixed with the desire to succeed, we were able to pull through.

    No matter how challenging a task may seem, done is always better than perfect. Oftentimes, perfection comes through the countless mistakes you make along the way.

    2. The importance of data collection

    One thing I implemented early on is good data collection. What do I mean by data collection? Data collection has a bad rep, thanks to large companies and scammers abusing it to make a quick buck. But there is a good side to data collection. Data collection can be used to make better marketing decisions. It can also be used to discover what users like and don’t like.

    I collect data in a few ways, but two of the most useful data collection tactics I used are asking good questions on our signup sequence and having a session recording software that tracks how long users are on each page and what they click on. These two data-collecting methods have helped with making the right decisions and software updates to improve the user experience.

    Related: The Complete, 12-Step Guide to Starting a Business

    3. Get a proof of concept before you build

    For the people in the back, I’m going to repeat myself: Get a proof of concept before you build. In early 2022, I thought it would be a good idea to build a marketplace within Trend Watchers. Marketplaces are great, and when used right they can be a great growth engine for startups — but no one wanted that. They just wanted trends they can use to go viral online.

    Instead of listening to this market feedback, I went ahead and built it anyway, and it was a major flop. It also caused a whole lot of other issues, but I wasted a lot of time and money on something my users didn’t want at the time. Because of that experience, I always conduct surveys and get a proof of concept before I add a new feature.

    4. Tell your story

    Starting a software company at 19 years old with my own money was already challenging enough financially. The next question was, how am I going to market this thing with a $0 marketing budget?

    Growing up, I’ve always been an amazing storyteller. In my free time after school, I would always write my own books. I would go into our home office, grab a few sheets of paper from the printer, fold them in half, staple them together, and boom — I had a book.

    I decided to leverage this skill I developed at a young age to slowly build a movement of loyal followers that would help me get traction for Trend Watchers. The two platforms I decided to focus on to document my progress were and leveraging press. This wasn’t an overnight success. It took tons of writing, documentation and pitching to slowly start getting my brand’s story heard, and now it is starting to pay off.

    One interesting insight I recently discovered about my paying customers is that they tend to stay longer knowing that their money is being put to work. A lot of my paying customers follow my story through my email list or Instagram page for weekly updates.

    If you are working on growing your startup, document your journey. Not only do you end up with a well-written journal in the end, but you can also find loyal customers along the way.

    5. Take every opportunity that presents itself

    Some of the best decisions I’ve ever made were time-sensitive opportunities that came my way. Some of these opportunities included opportunities to buy into programs, go to different places and break my schedule to attend certain events. About 90% of these opportunities came out of nowhere, and every time I took one, it significantly helped me in the process of growing my business.

    Related: 6 Tips for Building a Successful, Scalable Software Company

    As most people know, starting and growing a business is not easy, especially for a young adult with no prior experience. Reading books and watching videos can be very helpful and informative, but experience is truly the best teacher. The skills and lessons I’ve acquired through my experience have helped me grow exponentially, and hopefully, these five lessons above can help other entrepreneurs — young or old — grow their businesses as well.

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    Dejon Brooks

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  • How Founders Can Improve Their Tolerance for Uncertainty

    How Founders Can Improve Their Tolerance for Uncertainty

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    Businesses, especially startups, are characterized by uncertainty. From the viability of a idea to investors’ decisions, as well as how users would respond to your latest product feature, you’re never exactly sure what’s coming. Externally, political, technological and competitive uncertainties are causes for worry as well.

    Studies have shown that uncertainties are constant in entrepreneurship, and a leader’s ability to tolerate and manage them will greatly support the success of their venture. However, repeated exposure to high levels of uncertainty can send entrepreneurs into an emotional rollercoaster that could affect their self-image. Early-stage and first-time founders run greater risks of being broken by the twists and turns of rapidly changing business environments.

    More fascinating, though, is that some — especially serial entrepreneurs — are hooked to the uncertainties synonymous with startups. And their ability to tolerate these uncertainties and adjust accordingly to changing environments has helped them succeed. You, too, can learn to do the same by incorporating these four attitudes into your life:

    Related: 3 Ways to Overcome Uncertainty About Your Business’ Future

    1. Avoid micro-managing your team

    Delegate some uncertainties. So many activities go into building a company. A majority of those activities carry fair amounts of uncertainty. And it’s easy to get roped into bouts of worry trying to figure out how things could go wrong.

    It could be a marketing campaign that your team is trying out for the first time or a new product that your company is working on. Rather than actively engaging in these activities and interfering with your team’s every move, you can rid yourself of the that comes with the process and focus your energy where it’s needed the most.

    Studies by the Harvard Business Review reveal that micro-managing a team could significantly add to a boss’s stress and anxiety levels. Just lay back a bit, and let the marketing or product team worry about the uncertainty associated with their roles. You’ll thank yourself for it.

    2. Accept what you cannot control

    As far as entrepreneurship is concerned, so many events take place that are beyond the entrepreneur’s control. It could be some government policy changes that threaten the survival of your business. Maybe a key employee is quitting to spend more time with family. Whatever it is, there might be absolutely nothing you can do to change things. And you have to accept that.

    Yes, it’s easier said than done. You’ll most likely feel vile for being in such a position. That’s okay. Feelings make us humans, and you don’t have to deny them. The University of Utah Health Care psychiatrist, Maria Reyes, predicates that recognizing and acknowledging our feelings towards circumstances beyond our control is the first step to managing anxieties related to uncertainty.

    Also, you might need to disengage from the situation a bit. Stepping back helps you gain a better view of what seems like an obstacle to your success. Some entrepreneurs make the best of this step-back moment, by doing things like playing or engaging in hobbies of various sorts. You can give it a shot.

    Related: The 4 Things Leaders Need to Do First When Faced With Uncertainty

    3. Be grateful (for the little things)

    is an antidote for the negative emotions that uncertainty engenders, wrote psychologist Guy Winch in his book, Emotional First Aid. Being grateful has a joyous effect on the mind. Studies have shown that expressing gratitude causes the release of serotonin and dopamine in the brain. These hormones are associated with happiness, higher self-esteem and motivation.

    Endeavor to take small breaks to reflect on your experiences. Identify the little things that often go unnoticed, and imagine how life would have turned out without them. It could be as trivial as being able to refuel your car at the gas station the day before. If it’s helped move you forward in the slightest bit, then it’s worth expressing gratitude for.

    An act as simple as being grateful, if done repeatedly, can help you build tolerance for uncertainty because you believe that there will be good things to be grateful for either way.

    Related: How to Practice Gratitude as a Business Skill

    4. Make contingency plans

    Building a business requires making assumptions and following gut feelings. A majority of the time, those assumptions are wrong. Worst off, verifiable market research data may look so wrong when reality sets in. If they were always right, I guess uncertainty would be every entrepreneur’s least problem.

    So, as you make assumptions and lay out plans to succeed, it’s crucial to also plan for failure. What would you do if reality renders your assumptions nonviable? What are your Plan B and Plan C?

    You have to figure these out. According to a report by the Harvard Business Review, in times of uncertainty, the best entrepreneurs create contingency plans that can allow them to change course quickly. This is particularly helpful because most lethal circumstances are beyond the entrepreneur’s control. Talk about changes in market trends, and like in 2020, the pandemic.

    Related: 6 Strategies You Need to Run Your Company Through Uncertainty

    It’s very easy to get tangled up in the need to control your future and that of your company. And knowing that some things just aren’t fated can be unsettling. That’s understandable. You’re not alone. Many have learned to live with it. And so can you.

    The best approach to tolerating uncertainty is to stop resisting change and accept what you can’t control. Also, reduce the amount of uncertainty that you need to deal with by delegating some of them while making plans to recover from possible failures.

    Most importantly, don’t forget to pause and appreciate the little things that you experience along the way. As with most processes, building tolerance for uncertainty is a worthwhile journey. You don’t want to miss the opportunity to be grateful.

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    Judah Longgrear

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  • How to Be Less Impulsive

    How to Be Less Impulsive

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    It’s a question every leader should ask themselves: Is it possible to truly master ourselves and grow if we can’t control our impulses?

    There’s this quote I read a long time ago by author and psychologist Daniel Goleman that says “Emotional self-control — delaying gratification and stifling impulsiveness — underlies accomplishment of every sort.”

    I agree wholeheartedly, but of course, this is no easy feat. During a heated debate, for instance, we often let our gut reactions dictate how we respond. But it’s the opposite of what we should do, especially as leaders. Still, keeping our impulses under control tends to be a huge problem in the business world; and yet it’s the exact thing we need to develop to ensure success.

    Stanford neuroscientist Andrew Huberman insists that we can change our ways. Impulse control, according to his research, isn’t only plausible, it’s an ability we can develop. I’d like to share four expert-backed strategies that have personally helped me hone this skill and might help you, too.

    1. Delay gratification by even a few minutes

    I admit this is a hard one. The urge to constantly check our phones or grab an unhealthy snack can be so strong. But we don’t have to take drastic measures like going on a full technology detox or completely revamping our diets to make changes. The point is to be conscious about delaying those impulses even for a few minutes.

    Huberman refers to this as training your “no-go function”— a way of learning to inhibit our impulses. He proposes trying to aim for 20 of these no-go moments each day. “Something as trivial as having the urge to scroll through social media but refusing to pick up your phone can begin to train your ‘no-go circuit.’”

    Delaying your craving for that bite of chocolate or sugary drink by just a little can help you start flexing your self-control muscles.

    Related: Even Control Freaks Need Wisdom to Accept What They Can’t Change

    2. Practice mindfulness

    When I first founded my startup, Jotform, 16 years ago — I was over-eager and ambitious. I was also a self-proclaimed perfectionist and this didn’t help with attempting to keep my impulses in check. But over time, as the pressure of growing my business became more intense, I made one of the best decisions for myself and my professional career: beginning a regular practice of mindfulness.

    Instead of checking my phone first thing in the morning, I’d start journaling and then take more walks in nature to clear my mind. All of this helped to not only calm my anxieties (which generally lead to impulsiveness), but it also did something else: It helped me take time to reflect. I later progressed in my mindfulness journey by learning new breathing techniques and practicing guided meditations.

    Huberman also recommends this technique as a way of training our brains. “You think, ‘Uh, I don’t want to do it, but I’m going to force myself to sit still even though I want to get up.’ That’s a no-go,” he explains.

    3. Know your triggers and plan ahead

    The truth is, we all have a list of things we know will make us impulsive. Going out to a fast food restaurant when we’re trying to eat healthier, for example, can be self-sabotaging. Or spending time with certain people who we know tend to touch our buttons can be a different kind of trigger. I’m not saying to avoid these scenarios altogether — but to plan for them.

    If you’re meeting up with a friend for lunch, try to check out the menu beforehand so you already know what you’ll select when you get there. Or if you know you’ll be interacting with a difficult person, plan on taking deep breaths before responding or even taking a bathroom break to avoid saying something you might regret.

    In her story for Inc, Jessica Stillman writes that “It’s amazing how often we fail to live up to our potential not because of fear or stupidity but because of lack of self-control.”

    Related: 7 Characteristics of Exceptional Business Professionals

    4. Be patient with yourself

    Getting our impulses under control won’t happen overnight. I’ve spent years trying out the above strategies and trying to keep improving upon them. The above practices have also encouraged me to create policies at work to help create an atmosphere that reinforces using mindfulness and keeping our work/life balance in check. For example, I tell my employees to delete Slack from their phones and not answer emails during their weekends. It’s a way of promoting healthier habits that help us with self-control.

    As leaders, it’s important that our growth and development also lead to making a difference in our professional lives as well as those among our team.

    But keep in mind to be patient with yourself. As the saying goes, Rome wasn’t built in a day — nor can we expect to kick our scrolling habits all that easily. But by taking small steps regularly to delay gratification, take up mindfulness and plan, we can make significant progress in the long term.

    What I want to hit home as well is that it’s all too easy to be harsh on ourselves when trying to make any kind of behavioral changes. They require concerted effort and purposeful intention. More importantly, as Huberman wisely notes “Impulse control isn’t a fixed talent. It’s an ability you can train.”

    We do have a say in the matter as long as we have the willingness.

    Related: Leadership Tips: 5 Steps in Mindfulness Training that will Ultimately Make You an Unstoppable Leader

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    Aytekin Tank

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  • Jason Oppenheim Reveals His Secret to Staying Focused and Productive

    Jason Oppenheim Reveals His Secret to Staying Focused and Productive

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    Being an entrepreneur is not an easy task at all. When you choose a path of fending for yourself in business, the only person who can be blamed for failures is yourself. The entrepreneurial lifestyle requires a large amount of patience, perseverance and most of all, focus. Sometimes this leaves little to no to prioritize the most important parts of life like our physical and mental wellbeing.


    Benjo Arwas

    Science shows that when we prioritize our physical wellbeing, it correlates with being able to focus better on our work while also increasing our mental capabilities and wellbeing. This is why it is so important to focus on staying fit no matter how busy work may get.

    One entrepreneur who reaps the benefits of staying physically healthy is Jason Oppenheim. Oppenheim juggles the responsibilities of owning real estate conglomerate The Oppenheim Group while being active in the recording and production of the highly-popular series, “Selling Sunset.” Despite his busy schedule of back-to-back meetings, calls and time on set, Oppenheim prioritizes his physical wellbeing above all.

    I got the opportunity to speak with Jason Oppenheim as he offered insight on how he stays focused on work during his busy schedule while being mindful of his physical health.

    Related: No Time to Exercise? 3 Reasons Short Workouts Are Better Than Longer Ones

    Exercise at least 30 minutes a day

    Making time to be active daily benefits your brain in so many different ways. Exercising regularly is one of the easiest and most effective ways to reduce the symptoms of and improve concentration, motivation, memory and mood.

    Studies show that every time you move your body, a number of beneficial neurotransmitters, including dopamine, norepinephrine, serotonin and acetylcholine, get released into your brain. An organized review published in the journal, Translational Sports Medicine, found that it takes only two minutes of exercise to temporarily boost memory and overall brain functions.

    For Jason Oppenheim, 30 minutes in the gym, four to five times a week, is all he needs to stay focused and fit. “I do quick workouts, maybe 10 to 12 sets, and I’m out of the gym pretty quickly,” explained Oppenheim. Consistency is key to staying fit. “You have to keep your mind and body focused. Almost every time I get into a mood it’s generally because I’m not working out,” said Oppenheim. Being close in proximity has also been a game changer for Oppenheim, who walks 100 feet to a building next to his office to work out.

    Related: The Entrepreneur’s Diet for Success and Brain-Boosting Performance

    It’s about when you eat, not what you eat

    For Jason, his secret for staying lean isn’t attributed to his diet, but limiting how many times he eats: twice on a typical day. “I pretty much eat whatever I want. I don’t think anyone would call my eating habits impressive or healthy. I eat twice a day and that’s what keeps me lean,” explained Oppenheim.

    While Jason’s diet might not be what you’d expect a fit person’s diet to look like, his discipline of eating only twice a day allows him to fast incrementally, keeping a calorie deficit daily. In this case, it’s about when you eat, not what you eat. Jason eats lunch and dinner, holding out from a morning breakfast.

    Intermittent fasting is a popular method for burning fat. If you don’t eat for 10–16 hours, your body will go to its fat stores for energy, burning fat at a faster rate. And while this method works for Jason, it may not be everyone. Mayo Clinic says, intermittent fasting is safe for many people, but it’s not for everyone. Skipping meals may not be the best way to manage your weight if you’re pregnant or breastfeeding.”

    Being strict about when you are eating and allowing your body time to go through periods without eating may seem difficult at first, but doing so will help you stay lean.

    Related: Elon Musk Says He’s Lost 20 Pounds After Trying Intermittent Fasting and Now Feels Healthier

    Don’t overwhelm yourself

    Another important part of Jason Oppenheim’s consistency is staying away from overwhelming himself while making an effort to work out. “I go to the gym quickly. I don’t make it an overwhelming experience for myself. For me, I just want to check the box. I make the most of it,” Oppenheim pointed out.

    There is nothing wrong with keeping your workout brief. Doing so allows Oppenheim more time to get work done while still taking care of his body. “Leave the office and come back within 35 minutes,” Oppenheim explains.

    Final thoughts

    Concentrating on keeping both your mind and body healthy is vital to becoming successful as an entrepreneur. If you aren’t physically or mentally healthy, the stresses of life and business can begin to cave in.

    In Jason Oppenheim’s case, he doesn’t go over the top — he does just enough to see results. For example, while he isn’t at the gym for a super long period, he makes sure that he’s there enough to reap the benefits of staying active. You don’t need to spend hours at the gym, just an hour or so a day of being active can make all the difference. Oppenheim admitted his diet isn’t amazing, but his choice to fast and limit when he eats makes up for it all.

    There is only so much time in a day, and a busy schedule can make it challenging to prioritize our own wellbeing. Entrepreneurship calls for long hours, late nights, early mornings and an enormous amount of time and energy. But it’s the small, daily sacrifices to take care of your body that will go a long way in increasing productivity, and overall mood, all while sharpening focus. It’s scientifically proven.

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    Christian Anderson (Trust'N)

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  • 4 Leadership Lessons I Learned From a Marine Corps General

    4 Leadership Lessons I Learned From a Marine Corps General

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    Leadership is one of those skills that most people believe they have, but very few actually do, and that’s unfortunate because is critical to being a successful entrepreneur.

    If you want to grow your company beyond a one-person operation, you need the ability to effectively lead a team. The larger your team grows, the more effective your leadership skills need to be because you’re further from the front lines.

    I’ve been fortunate enough to have experienced a wide range of leadership styles throughout my career. Some served as powerful examples to model, while others served as examples to avoid. But I learned something important from every single one of them. And without question, one of the most effective leaders I’ve had the opportunity to meet is Marine Corps General Anthony Henderson. I first met him while I was serving in the Marine Corps when he took command of Lima Company, 3rd Battalion, 2nd Marines.

    Related: Why Veterans Make Great Entrepreneurs

    So what does military leadership have to do with leadership in the civilian world? Everything. Leadership is the same, whether you’re leading troops into battle or employees in the workforce.

    Despite what you see in the movies, our troops don’t just jump into action because someone yelled at them to do a particular thing. In fact, due to the insanely dangerous nature of military service, more effective leadership is required compared to the civilian world.

    Think about it like this — how much would I have to scream at you to get you to rush across an open field being pummeled by artillery and machine gun fire? If you’re anything like most people, your answer is probably something along the lines of, “There is no amount of screaming that will get me to do that!” Nothing I could say would get you to run across that field.

    That’s because true leadership isn’t about forcing people to do something. It’s about inspiring them to make your mission their mission. An effective leader is a boss, but also a mentor, protector and cheerleader. Their job is to give orders, but first, they have to educate, train and nurture their team.

    And that’s exactly what Marine Corps General Anthony Henderson did — his leadership is why every Marine I’ve ever met who served with him would still follow him into battle armed with nothing more than a pair of silkies and an MRE spoon.

    I’m going to break down five lessons I learned from one of the best leaders I’ve ever met: Marine Corps General Anthony Henderson. If you apply the lessons learned from the stories I share here, I can promise that you’ll become a better leader and build a more effective, productive and cohesive team that will help propel you to your goals.

    1. Blame belongs to you — praise belongs to your team

    My last commanding officer, who I won’t name, was one of the worst examples of leadership I’ve ever encountered. He demonstrated a complete lack of leadership. He would rarely show up for our training operations, and when he did, he wouldn’t do anything, which is not common behavior in our world. Fortunately, the other leaders in our unit stepped up to ensure everyone performed as expected, which was kind of important considering that we are talking about literal life-and-death scenarios.

    I distinctly remember a particular battalion formation following a training operation, which was the culmination of several months of training in preparation for an upcoming deployment. Our unit had performed exceptionally well, and our battalion commander congratulated him for our performance. I was blown away by his response: “Thank you, sir! I put in a lot of work to make sure my Marines knew exactly what to do and how to do it. I personally supervised and trained them every step of the way.”

    Literally, none of that was true. He played no role in our performance. Henderson, on the other hand, was with us for nearly every training operation, alongside us enduring the physical and mental challenges that come with that. And while he was one of the best leaders I’ve ever met, he also often took a direct, hands-on approach with the junior Marines as well.

    When faced with a similar compliment from our battalion commander, Henderson responded very differently. “Thank you, sir! My Marines worked night and day to achieve this. They deserve all the credit.” There was a stark contrast between these two responses. For Henderson, it was never about himself — it was always about us and the mission.

    A true leader understands that leadership is not about themselves and it’s not about barking orders. It’s about accomplishing the mission while taking care of those under your leadership.

    Related: 5 Ways to Be a Leader Your Employees Will Respect

    2. You have to trust your team to do their jobs

    When Marine Corps General Anthony Henderson took over the command unit, he called me over in his calm but booming voice: “Lance Corporal Knauff, bring the MCI program documents and come see me in my office.”

    This is basically an educational program where Marines take self-study courses on their own time, and then take an exam on the topic in a controlled and supervised environment. Many of these courses are required for promotion.

    I immediately began gathering the documents and already knew exactly where this was going because the program was managed like a complete dumpster fire from the top at Headquarters Marine Corps in Washington D.C.

    This was hurting the careers of tens of thousands of Marines because the exams, once mailed back to Headquarters Marine Corps, would mysteriously disappear. While not a perfect solution, I began photocopying the exams before sending them off so that if they disappeared, I could resend them. There was another issue: The courses that Marines had already received a completion certificate for would suddenly and mysteriously disappear from the database. I anticipated this and began photocopying the certificates as well. As a result, I was able to compensate for the mismanagement at Headquarters Marine Corps and keep my Marines’ careers on track.

    As I entered his office with a massive stack of documents in hand, he said, “We’re going to make some changes to how we handle the MCI program here. We’re going to do XYZ from now on. Do you have any questions?”

    Before I even realized I had begun speaking, I heard myself respond with, “No, Sir. We’re not going to do that, and here’s why. Here’s how I do it, here’s why I do it this way, and here’s the outcome we have as a result.”

    He stared at me without saying a word long enough for me to reconsider the sanity of my response because this simply isn’t how you respond to your commanding officer — especially as a young Lance Corporal, and even more so within the first thirty seconds of meeting him.

    After what seemed like an eternity had passed, he simply nodded and said, “It sounds like you have this under control, Lance Corporal Knauff. Handle it your way.” That was the end of that conversation.

    An effective leader knows when their team is capable of handling a task and trusts them to do so without feeling the need to micromanage. Your team may do things differently than you would, and they will make mistakes. But that’s how they learn and improve. As a leader, you have to become comfortable with the uncertainty that comes from this.

    3. Never let emotions dictate your actions

    Henderson shared a story about how he almost gave up the opportunity to become a Marine over misplaced emotions. More importantly, he shared how, after following the advice of his grandfather, he ended up overcoming those emotions, earning the title Marine, and in my opinion, becoming one of the most effective leaders I’ve met.

    The short version is that after going through the selection process and being given the opportunity to attend Officer Candidate School, which is the officers’ version of boot camp, he learned that he was being given that opportunity both because of his performance and because the Marine Corps needed to fill a quota for minority officers. That angered Henderson because he wanted to be accepted solely on his merits and nothing else.

    While discussing the situation with his grandfather, he shared that he didn’t want to be given the role simply because he was Black. He said it didn’t feel right and that he felt that he would be viewed as “less than” because of the circumstances.

    With the calm wisdom that can only come from older generations, his grandfather told him, “Tony, the Marine Corps isn’t going to give you anything. They’re giving you a chance to earn the title. Nothing more. You still have to do all the work. And if you succeed, you’ll then have the opportunity to then inspire other young men and women to follow in your path.”

    This lesson was especially important because it highlights how easily we can be led astray by our emotions, but it also highlights the importance of having the right mentors in our lives to help us navigate through our blind spots. As someone who has made the mistake of trying to do far too much myself, the latter profoundly impacted my life.

    Our emotions can be a powerful tool or a dangerous boobytrap, depending on how we choose to react to them. An effective leader will still have the same emotions as anyone else — they just react more intentionally to them than others do.

    Related: 4 Emotional Struggles You Must Confront as an Entrepreneur

    4. Integrity is everything

    When we would complete training for the evening during a field op, and the rest of the company was climbing into their sleeping bags, he and I would return to the company office in the humvee.

    We would then proceed to complete whatever administrative work we had there before returning to the field with the rest of the company several hours later.

    And while we were well within easy driving range of the commissary and multiple fast food restaurants, not to mention the vending machines located in the battalion headquarters, he would always eat an MRE, U.S. military operational ration.

    Most people wouldn’t do this, and on more than one occasion, I’ve seen Marines at all levels of leadership grab a more enjoyable meal or snack because let’s be honest — MREs suck. And they were even worse back then.

    One night, I was going to make a quick run to my room at the barrack to grab a snack because I kept my room stocked like a grocery store, and I asked him if he wanted something. His response was simple, “No. I’ve got this MRE.”

    I asked if he was sure and rattled off a few things I had that I could bring back. His response this time was equally simple. “My Marines are eating MREs, so I’ll eat MREs.” Needless to say, I didn’t end up bringing any snacks back for him or for myself.

    It’s worth noting that while leadership does come with some privileges, it also requires sacrifice. In the Marine Corps, leaders eat last. In fact, when it comes time to eat, we start by serving the most junior Marines, working our way up to the most senior Marines. That’s because while leaders are in charge of their troops, they are also responsible for them and their wellbeing.

    This is a unique nuance to the relationship that most people never really understand. A true leader will always put the men and women under their command ahead of themselves.

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    Jeremy Knauff

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  • The Key to Becoming More Creative and Innovative

    The Key to Becoming More Creative and Innovative

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    is a muscle — and that muscle needs to be exercised if you want to be more innovative or deliver on creative work. But as with anything that must be developed or worked on, most of us look for shortcuts. From workouts to productivity tools to grocery shopping … we’re all attracted to time-saving hacks that offer fast results and immediate solutions.

    This can happen in creative work when we look for shortcuts or try fast-tracking the process by pulling inspiration from design galleries or others’ websites. To be clear, there’s nothing wrong with your team members trying to optimize their time by turning elsewhere for inspiration. Your team should be doing that. Often.

    But if that’s all they’re doing — if they’re relying solely on inspiration from others’ work — then they’re stunting their curiosity’s growth. Without a well-developed sense of curiosity, they’ll fail to grow into the brilliant creatives they’re meant to be.

    Related: How to Make Your Employees More Creative at Work

    Explore outside your industry

    By building your curiosity muscle, you’ll be able to not only ask deeper, more meaningful but also ideate ideas more rapidly. How do you develop that muscle? By learning new things. Proactively. You can develop that muscle even more successfully by learning things you’re not familiar with and even exploring ideas you may be uncomfortable with.

    Don’t limit your learning and exploration to ideas directly connected to your job. Go outside of your industry to learn new things.

    A designer might cultivate their curiosity by learning how to bake and studying the reason why yeast causes to rise, why a second rise yields a better loaf and how yeast, baking soda and baking powder are all leavening agents but require very different conditions to cause baked goods to rise.

    If you’re a nonprofit exec, you could explore why the tools, techniques and strategies of Six Sigma matter in manufacturing. You could study processes like ‘s production system or the five whys technique. Or you could explore how things relate in different ecosystems. The point is to broaden your curiosity across a variety of disciplines.

    The best-kept secret to creativity

    So, why does this matter to your creative muscle? Why bother investing so much time and effort into learning ideas so far removed from your creative endeavors? It’s all about getting your reps in.

    We live in a world that offers endless opportunities to ponder, discover and investigate ideas. And every time you embrace one of those opportunities, you develop your curiosity. And perhaps more importantly, you create a deeper well of experience to draw on. By soaking in all that new information, you have a broader set of ideas to apply to your current challenges and iterate on. That’s the best-kept secret to cultivating creativity and innovation.

    Related: The 9 Steps That Will Help You Learn Anything

    3 questions for cultivating your curiosity

    So, how can you and your team develop that curiosity muscle to grow in creativity and innovation? Use these three questions to lead you forward as you grow your curiosity:

    1. “Am I learning something new?” It’s a fairly common question, right? Most people will ask themselves this question a couple of times a year when they’re feeling reflective and introspective. But that’s not enough. The most successful creatives ask themselves this question every day. Whether they’re trying to learn something big over the course of time or simply exposing themselves to new ideas, they are exercising their sense of curiosity about the world every day. Right now, go into your calendar and block off 15 minutes every day to focus on learning something new.

    2. “Am I discovering something new about a topic I already know?” Stay in your career long enough, and you’ll get to a point where you feel like you know a lot. It’s a great feeling, isn’t it? But don’t get comfortable there. Develop the mindset that no matter how much of a subject matter expert you may be, there is always more to learn. Keep an ongoing, ever-growing list of ideas and topics within your industry that you want to grow in. If this is a struggle for you, ask your peers about their career paths and the knowledge gaps they had to overcome.

    3. “What if…?” and “Why not…?” To really level up your creativity muscle, you need to use prompts such as: “What if…?,” “Why not…?,” “I wonder…,” and “What’s stopping us from…?” Be the person who’s always questioning ideas and strategies. The point isn’t to be contrarian, but to cultivate the curiosity your team needs to drive innovation.

    Related: 3 Ways to Unleash Your Creativity

    If you’ve ever felt limited in your creativity, then asking yourself the questions above will help you do something about it. And if you’ve thought you’re just not creative, well, stop. Because you can make yourself more creative. Cultivate your curiosity, and you’ll start producing more creative, innovative ideas.

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    Mark Miller

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  • These Comic Creators Got a $500,000 Shark Tank Investment

    These Comic Creators Got a $500,000 Shark Tank Investment

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    “I wanted to tell a story about African history before slavery,” Manuel Godoy, co-founder of Black Sands Entertainment with his wife Geiszel, says. “[So I wrote] a story about Ancient Egypt and the surrounding areas. And it was amazing — people gravitated toward it because they finally felt included in historical contexts.”


    Courtesy of Black Sands Entertainment

    The Godoys began Black Sands Entertainment in 2016 to draw attention to the characters and stories that so often go unwritten in mainstream media. Now, the comic publisher and media venture boasts dozens of titles that represent the entire diaspora, and young adults are devouring them — just like the Godoys would have, if they’d had the opportunity at their age.

    Black Sands stands apart for its dedication to Black history and its commitment to the Black community, but something else has also contributed to its striking success: The Godoys’ status as United States Army veterans.

    Ahead of Veterans Day, Entrepreneur sat down with the Godoys to learn how they’ve grown Black Sands from crowdfunding to almost IPO with investments from Kevin Hart and Mark Cuban — and how their Army backgrounds have informed their entrepreneurial journey along the way.

    Related: 6 Ways Small-Business Owners Can Celebrate Veterans Day

    “Momentum is the biggest factor when it comes to raising capital.”

    From the start, the Godoys spread the word about their content on social media and set their sights on raising capital. Between 2017 and 2020, Black Sands ran four Kickstarter campaigns and raised $80,000 in total. Then, in 2020, they decided to launch another campaign on WeFunder.

    “We basically judged the intent of our biggest followers,” Manuel says of their approach to the 2020 campaign. “We asked them, ‘How much were you planning on investing?’ [Then we said], ‘If you were to invest this much money, we would spend at least 15 minutes talking to you about any questions you have about our company, our financials, etc.’”

    The Godoys asked, and their readers answered: They raised $40,000 in those first 24 hours. Ultimately, that campaign brought in $500,000.

    “No one wants to be the first investor,” Manuel adds. “But if you already got 300, 400 investors in the first day, everybody’s like, ‘Hey, I’m joining too.’ Momentum is the biggest factor when it comes to raising capital if you’re going through customers.”

    And the Godoys have kept up Black Sands’ momentum since those early days, climbing to the top 1% of the Patreon community, raising $2 million in capital and earning more than $2 million in revenue to date.

    Related: Why Creators Are Recession-Proof

    “We got on stage, pitched our information, and everybody fell in love.”

    Earlier this year, the Godoys appeared on Shark Tank to pitch their company.

    Shark Tank features Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary as permanent judges, with Kevin Hart, Emma Grede, Peter Jones, Daniel Lubetzky and Nirva Tolia as recurring guest judges.

    The Godoys knew that Hart was going to be one of their judges ahead of time.

    “We knew we had to make him fall in love with our content,” Geiszel says. “So we got on stage, pitched our information, and everybody fell in love.”

    Initially, the Godoys offered the Sharks a 5% stake in Black Sands for $500,000, with the funds earmarked for animation development and additional titles. But Hart and Cuban countered with a 30% stake for the same investment, citing the media resources that Hart’s production company, HartBeat, could provide as Black Sands expands.

    The fact that Black Sands’ Shark Tank deal went through is a testament to its strong business model and the Godoys’ entrepreneurial savvy. Forbes spoke to 74% of the people who were offered deals on the show in seasons one through seven and found that roughly 43% of those agreements didn’t go through — because the Sharks pulled out or changed the terms.

    Now, Black Sands is focusing on that animation development — and on taking the company public.

    Not only are the Godoys dreaming of an eventual $1 billion IPO, but they’re also envisioning a future where Black Sands’ fans-turned-investors are at the forefront, continuing to hold stock as “their slice of the pie.”

    Related: The Basics of Raising Capital for a Startup

    Image credit: Courtesy of Black Sands Entertainment

    “Being in the Army taught me how to be an entrepreneur.”

    The Godoys’ experiences in the Army have helped lay the foundation for Black Sands’ success.

    “Being in the Army taught me how to be an entrepreneur,” Geiszel explains. “In the Army, I was leading a group of 30 soldiers. So it taught me about how to manage a team and run a company, because [it gives] you that discipline and structure you need.”

    Manuel agrees, noting that the Army imparts significant leadership experience, even for those lower on the chain of command — because you have to learn how to get things done on time.

    Another skill the Army teaches that every founder should have on lock? Inventory.

    “You have to know where everything is and how much you have,” Manuel says. “Otherwise, one day you run out, and it takes three months to get the next part. And you’re out of business for three months.”

    The Army has given the Godoys essential skills for running a business — and it’s also inspired some of Black Sands’ narratives.

    “I’m a war nut,” Manuel says. “I love war, so anything that has to do with strategy, military tactics, logistics, that’s stuff that I put into my writing. I make sure it logistically makes sense that [a particular] battle is happening, and that’s probably why people like the accuracy of the storylines.”

    Related: 7 Qualities the Army Instilled in Me That Helped Me Launch a Business

    “Veterans always want to choose five different businesses at once. I’m like, ‘No, stick to your favorite.’”

    There are many reasons why veterans make excellent entrepreneurs. Manuel notes the benefits they have at their disposal, which can help accelerate their business’s growth.

    Still, the Godoys stress it’s important to keep several key things in mind.

    First up? Stick to one business idea — and see it through.

    “Veterans always want to choose like five different businesses at once,” Geiszel says. “Stick to your favorite, take those military skills, apply them to your everyday business life, and you will succeed. Don’t give up. If you fail, keep going.”

    Additionally, you should know exactly who’s buying what you’re selling.

    Find out who your core customer is,” Manuel says. “Don’t worry about what you’re going to make and how you’re going to do all that stuff. Find out who you want to sell to — because once you figure that out, then you can make a product that’s tailored to them.”

    Once you have your idea and customer in mind, you have to surround yourself with people who will help you level up.

    Hiring the right team is very important for a business to thrive,” Geiszel says. “And you want to make sure your team is going to be loyal to your company.”

    One sure way to cultivate company loyalty? Pay people fairly, raising benefits as the company succeeds — it will make employees feel valued and willing to continue their contribution. Manuel says that Black Sands has people who have been on the team for five or six years.

    Related: The 4 Rules of Treating Employees Equitably

    “We have to champion things that the Black community wants us to champion.”

    Above all else, Black Sands is a company that refuses to sacrifice its principles.

    Originally, the co-founders wrote and designed all of Black Sands’ comic books by themselves, but they’ve begun allowing other Black creators to write for them as they build their own brands.

    Black Sands has also harnessed the power of Kickstarter as part of its larger effort to lift up Black creators and their work. The Godoys recently launched a campaign for Everett Montgomery’s Flame comic series.

    Image credit: Courtesy of Black Sands Entertainment

    “We are a company that’s dedicated to Black history,” Manuel says. “And that means that we have to champion things that the Black community wants us to champion. We can’t just go out there and be like, ‘Oh, we make comic books, and that’s all we do.’ We have to be involved in social issues and other things that are related. We have to be able to say that we actually are doing something about it.”

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    Amanda Breen

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  • Stand Out With Confidence and Achieve Your True Potential With This Mindset

    Stand Out With Confidence and Achieve Your True Potential With This Mindset

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    Opinions expressed by Entrepreneur contributors are their own.

    Let’s face it. It’s not always easy to stand out, go against the grain or make a bold statement. It can feel easier to go with the flow than to swim against the current. When you step out, you can be seen and can feel uncomfortable. People might label you, point fingers and even judge you. You might even failing, and rightfully so because having anyone see you fail is terrifying. The horror of being in the spotlight keeps many people from ever stepping out and being true to their beliefs, opinions, and themselves. Fear keeps transformative thoughts and ideas buried, often resurfacing later in life when people ask themselves, “what if?”

    What if I had stood up for what I wanted? What if I had taken that risk? What if I had raised my hand and spoken my truth…. would my life have been different? Could I have made a difference? Would I have been happier?

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    Jen Sugermeyer

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  • The Value of Hyper-Focus: Why You Must Stop Stretching Your Attention Across Too Many Priorities

    The Value of Hyper-Focus: Why You Must Stop Stretching Your Attention Across Too Many Priorities

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    Opinions expressed by Entrepreneur contributors are their own.

    Every company, founder and leader has a hierarchy of basic values that are typically universal, usually predictable, but always required. You don’t need to hear another rendition on why a focus on culture is so critical or why a mission statement that is integrated into all layers of a company is key to success. We get it, and we know — these are all good things.


    Jessica Peterson | Getty Images

    But I want to take this a step further. I want to explain why hyper-focusing is so game-changing that without it, mere focusing has little to no value. When I hyper-focus, I feel so mission-oriented to accomplish, unlock or optimize whatever I’m zeroed in on. But without hyper-focus, I’ve come to realize that simply focusing on something is too broad, too macro and too blanketing that I leave unimpressed. A sense of direction comes through focusing, but results only come from hyper-focusing.

    There are many areas of a P&L, strategy, mission, etc. that demand a state of hyper-focus. Below are a few examples:

    Related: 18 Proven Ways to Stay Focused That Increase Productivity

    Stop focusing on channel, competitor and retail consumption data for anything beyond trends. Start hyper-focusing on store-level data to create trends.

    Most have access to consumption data packages to drive key decision-making and insights. There is no competitive advantage to this data as it is too macro and accessible to drive any meaningful insights that inform tactical decision-making. Instead of focusing on channel and retailer consumption, take your data approach a level deeper to store-level consumption. Create hyper-focused markets using store-level numbers to test, learn and create a playbook for success that can be lifted and shifted to other markets. This is how you create trends vs. report on trends.

    Have tunnel vision that is hyper-focused on your company, only

    In consumer industries, there is a high risk of getting distracted by what is happening in the industry broadly. This is due to the large number of sales trade shows, supply trade shows, industry events, industry PR, industry Slacks, etc. When you focus on weekly valuation headlines or daily brand highlight reels, you inevitably feel the urge to catch up and grab your share of buzz at the expense of more meaningful uses of time. Have tunnel vision on your company, only. A well-thought-out strategy does not get impacted by what others in the industry are doing. Remain hyper-focused on your company at all costs.

    Hyper-focus on your core products before you add more

    Too often I see consumer brands proliferating their assortment of offerings before the brand has even cracked meaningful household penetration on its core product line. $100MM in net coming from five SKUs is infinitely more meaningful than $100MM in net revenue coming from 20 SKUs. When it comes to value creation, it is often more valuable to not do than to do. History is against you. Out of the tens of thousands of brands that have launched over the past decades, there are arguably less than five brands that have innovated in multiple categories and created a brand equity that is equally tied to each. Shoppers are humans, and humans are predictable. You will never go wrong with hyper-focusing on the core. But the odds are against you when you lose your hyper-focus to go beyond the core.

    Related: 7 Ways to Refocus on What’s Truly Important

    These are just several of the areas where I believe entrepreneurs must hyper-focus in order to maximize productivity and impact. Even outside of consumer products, founders are generally limited by their two scarcest resources: their own time and . The more diffuse your focus is across various tasks, the less you will thrive and succeed in your priority areas.

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    Mark Olivieri

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