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Tag: Entrepreneurs

  • Building Tech With No Experience Taught Me This Key Skill | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s world, not every founder comes from a technical background, and that’s no longer a dealbreaker. With AI projected to grow 28.5% by the end of the decade, even specialists are racing to keep up with emerging innovations. In such a fast-moving environment, the expectation that any one person, founder or otherwise, will master every detail is both unrealistic and counterproductive.

    The reality is this: You don’t need to code to build in tech, but you do need to translate. The ability to connect across disciplines has become the most important skill to develop — not just as someone building a company, but as someone leading one.

    If my experience in the NBA has taught me anything, it’s that every good team is made up of strong translators: people who understand both the locker room and the boardroom, coaches who can speak to data analysts and players, and leaders who can turn strategy into execution. Unsurprisingly, this is exactly what tech startups need, too.

    Related: Having No Experience Doesn’t Mean You Can’t Start a Business

    Clarity beats jargon

    When I started building Tracy AI, I quickly learned that trying to sound technical wasn’t helpful and actually slowed things down. Translating product decisions into clear, outcome-based language helped us move much faster. We didn’t always need to build models from scratch, but we did need to understand what those models were aiming for. That’s the real distinction between technical literacy and technical fluency: One is about credibility, but the other is about clarity. When everyone’s on the same page, people align, and products get better.

    Having this approach enabled us to bring in outside subject-matter experts, test assumptions early and avoid costly missteps that often come from internal echo chambers. Regardless of whether your team is fluent in Python, the ability to communicate clearly across complexity is what ultimately drives the company’s momentum.

    Hire smart

    I once read a quote from David Ogilvy that stuck with me: “Hire people who are better than you are, and then leave them to get on with it.” In tech, that means surrounding yourself with brilliant engineers, designers and product minds, and focusing your own energy on alignment, direction and decision-making.

    Building a company is about asking better questions, setting the right priorities and making sure your team is rowing in the same direction. That requires trust, communication and discipline, not technical depth. It also means knowing how to translate business needs into technical priorities, and vice versa.

    When it comes down to it, a founder’s job is to build bridges. Between vision and execution. Between product and people. Between strategy and reality. The most valuable skill in business isn’t your ability to code; it’s your ability to connect. Not being afraid of connecting strong, self-motivated individuals in your business is not only a recipe for success — it’s just good business sense.

    Related: How (Not Why) You Need to Start Hiring People Smarter Than Yourself

    Letting go

    Rapid-growth companies face a specific leadership challenge: knowing when to direct and when to step back. For founders, especially those without technical backgrounds, there’s a strong temptation to stay hands-on with every detail. According to a Harvard Business Review study, 58% of founders struggle to let go of control, often remaining stuck in what’s known as “founder mode,” even when the company is ready to scale.

    Being stuck in founder mode can slow down progress, stifle creativity and burn out the very experts hired to build. The job of the founder is to hold the vision and define the “what” and “why,” while trusting the team to figure out the “how.” That means giving engineers autonomy to explore solutions and trusting their understanding of the mechanics.

    At the same time, it’s important to stay connected to the people you’re building for. From my experience, I made sure to spend time with athletes, coaches and trainers — not just as a former player, but as a product owner committed to learning. That user feedback wasn’t just helpful; it became a compass for the tech. Just because we may need to let go of day-to-day, doesn’t mean we can’t get involved in other ways.

    At a certain point in any startup’s life, there is a transition from idea to alignment. Engineers speak in sprints and system architecture. Investors speak in ROI and risk. Users speak in frustrations, workarounds and outcomes. As a founder, your job is to be the connector between all of them, bridging the gap between engineers, users and investors, often speaking three very different languages in the same meeting.

    Related: Are You Running Your Business — or Is It Running You? How to Escape ‘Founder Mode’ and Learn to Let Go

    That means being able to explain what users actually want to your developers, breaking down technical constraints in a way your investors can understand and communicating a vision clearly enough that everyone in the business can see where they fit in. This is what makes a product usable, turns a group of builders into a team and ultimately transforms a good idea into a lasting company.

    In today’s world, not every founder comes from a technical background, and that’s no longer a dealbreaker. With AI projected to grow 28.5% by the end of the decade, even specialists are racing to keep up with emerging innovations. In such a fast-moving environment, the expectation that any one person, founder or otherwise, will master every detail is both unrealistic and counterproductive.

    The reality is this: You don’t need to code to build in tech, but you do need to translate. The ability to connect across disciplines has become the most important skill to develop — not just as someone building a company, but as someone leading one.

    If my experience in the NBA has taught me anything, it’s that every good team is made up of strong translators: people who understand both the locker room and the boardroom, coaches who can speak to data analysts and players, and leaders who can turn strategy into execution. Unsurprisingly, this is exactly what tech startups need, too.

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    Tristan Thompson

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  • Web3’s Speed Is No Longer Optional. It’s the Path to Adoption. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    After Bitcoin launched in 2009, it became clear to proponents that it would have a difficult time ever becoming “electronic cash.” It was too slow and decentralized. Instead, the consensus was reached that its purpose should fit its architecture. The pivot was important: Bitcoin aimed to be a decentralized store of value — a digital vault. It wasn’t built for speed, and as a store of value, it would never need to be fast.

    Ten-minute block times were acceptable because they didn’t need to be used for daily payments, let alone real-time gaming or algorithmic trading. It wouldn’t have to compete with Visa or PayPal; it simply had to serve as a hedge against macroeconomic and geopolitical risks, like its gold and rare metal counterparts.

    As such, its limited throughput was reframed as a feature rather than a flaw, a security trade-off that prioritized immutability and decentralization over instant convenience.

    In many ways, Bitcoin became a philosophical statement about the trade-offs inherent in trustless systems, teaching the industry that decentralization has costs, but those costs define its unique value proposition.

    Related: America Needs a Bitcoin Reserve — Here’s Why

    The blockchain space has evolved far beyond its origins, and no other chain can attempt to recreate Bitcoin’s narrative. In 2025, Web3 is no longer about theoretical use cases. It is powering actual economies, which rely on fast finality and battle-tested security. Tokenized assets, payments apps, decentralized finance, consumer loyalty, identity, gaming and increasingly AI systems all rely on the same foundation: scalable, low-latency infrastructure.

    These real-world applications demand performance that was inconceivable in the early days of cryptocurrency. The promise of decentralized technology can no longer exist solely as a concept; it must operate at the speed, scale and reliability that modern users have come to expect.

    But that foundation is nowhere near where it needs to be. Today’s blockchains are asked to perform like global-scale platforms, even as most still struggle with 1990s-era throughput. That mismatch is the biggest threat to Web3’s future, the distance between what’s demanded of a decentralized blockchain and what these protocols can actually offer.

    Most chains today still process fewer than 100 transactions per second. Legacy networks like Visa can handle tens of thousands without breaking a sweat. High-frequency trading platforms operate with microsecond latency. And yet we expect developers, enterprises and users to build and transact on infrastructure that’s slower than dial-up.

    Related: Why Gold and Bitcoin Are the Go-To Safe Havens in 2025

    The public will not wait for us to catch up. They are used to seamless, real-time experiences. Anything less feels broken. This is not a matter of optimization. It is a question of survival. If we do not build for performance, we will not be taken seriously. Web3 cannot survive on nostalgia or theoretical ideals alone; it needs infrastructure capable of handling the realities of billions of users, each expecting instant results, frictionless interaction and financial security at all times.

    What Web3 needs now is a clean break from legacy limitations. The next generation of chains must be built for speed from day one. This includes advanced sequencing architectures that allow networks to prioritize and order transactions efficiently. It also includes parallelized execution, which enables blockchains to process thousands of transactions simultaneously, rather than one after another, in a single line. On top of that, developers need predictable fee structures that make sense at scale. Micropayments don’t work when fees are higher than the transaction itself. Without these foundational changes, innovation will remain bottlenecked and adoption will stall.

    None of this is optional anymore; If we want blockchain technology to serve billions of users, we need infrastructure that performs like global financial rails. That means sub-second latency. It means tens of thousands of transactions per second. It means costs that make sense for everyday use.

    Some of this is already underway. Several high-throughput chains are being tested right now, and a few are in production. Polygon PoS is expected to cross 5,000 transactions per second this year. Within the next twelve to eighteen months, 100,000 TPS is within reach. At that point, Web3 can begin to seriously challenge legacy platforms.

    Plus, with the power of ZK technology, we can now have institution-grade blockchains that can provide 10s of thousands of TPS with full control and compliance available to the corresponding institution. Zero-knowledge proofs allow for privacy-preserving verification and regulatory compliance simultaneously, making it possible for institutions to leverage public blockchains without compromising security or governance requirements.

    Related: I Studied 233 Millionaires — These Are the 6 Habits That Made Them Rich

    But we can’t afford to celebrate incremental improvements. Speed is not just a technical achievement. It is what unlocks the real-world applications we have been promising for over a decade. Without it, we stay stuck in the prototype phase.

    The next generation of the internet won’t wait for us. It will move forward with or without blockchains at its core. If Web3 wants to be part of that future, it must start building like it.

    Now.

    After Bitcoin launched in 2009, it became clear to proponents that it would have a difficult time ever becoming “electronic cash.” It was too slow and decentralized. Instead, the consensus was reached that its purpose should fit its architecture. The pivot was important: Bitcoin aimed to be a decentralized store of value — a digital vault. It wasn’t built for speed, and as a store of value, it would never need to be fast.

    Ten-minute block times were acceptable because they didn’t need to be used for daily payments, let alone real-time gaming or algorithmic trading. It wouldn’t have to compete with Visa or PayPal; it simply had to serve as a hedge against macroeconomic and geopolitical risks, like its gold and rare metal counterparts.

    As such, its limited throughput was reframed as a feature rather than a flaw, a security trade-off that prioritized immutability and decentralization over instant convenience.

    In many ways, Bitcoin became a philosophical statement about the trade-offs inherent in trustless systems, teaching the industry that decentralization has costs, but those costs define its unique value proposition.

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    Sandeep Nailwal

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  • How Generative AI Is Completely Reshaping Education | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    This is the second installment in the “1,000 Days of AI” series. As an AI keynote speaker and strategic advisor on AI university strategy, I’ve seen firsthand how generative AI is transforming education — and why aligning with the future of learning is now a leadership imperative.

    I’m starting with education, not because it was the most disrupted, but because it was the first to show us what disruption actually looks like in real time.

    Why start here?

    Education is upstream to everything. Every future engineer, policymaker, manager and founder is shaped by what happens in a classroom, a lecture hall or a late-night interaction with a search engine. When generative AI arrived, education didn’t have the luxury to wait. It was forced to adapt on the fly.

    ChatGPT didn’t quietly enter higher education. It detonated. Assignments unraveled. Grading frameworks collapsed. Students accessed polished answers in seconds. Faculty were blindsided. Institutional responses were reactive, inconsistent and exposed deep fractures in how learning was being defined and delivered.

    The idea that education meant memorization and regurgitation cracked almost overnight.

    Related: How AI Is Transforming Education Forever — and What It Means for the Next Generation of Thinkers

    AI in education didn’t break higher ed — It exposed the disconnect

    Long before AI, colleges were already straining under somewhat outdated models — rigid lectures, static syllabi, compliance-heavy assessments and a widening chasm between classroom instruction and workforce reality. Students were evolving faster than the systems designed to serve them.

    Generative AI made that gap impossible to ignore. Within months of its release, a majority of students admitted to using ChatGPT or similar tools for coursework. Meanwhile, most college presidents acknowledged they had no formal AI policy in place. The dissonance was loud, and it created not just urgency, but opportunity.

    In the past year, I’ve partnered with some of the largest education systems in the world to help develop their AI strategies. We co-developed governance frameworks, launched executive working groups, crafted responsible use guidelines and trained thousands of faculty across campuses. The goal wasn’t just to respond; it was to lead.

    At the same time, I’ve worked with community colleges — the frontline of workforce development. These institutions feel disruption first and move fastest. I’ve helped their leaders connect generative AI to student outcomes, integrate tools into classroom experimentation and align innovation with workforce readiness and equity.

    Whether it’s a flagship university or a high-impact college, the principle is the same: Strategy must align with people, culture and mission. The institutions making the biggest strides aren’t the ones with perfect AI plans. They’re the ones willing to move while others wait. This momentum is powered by intrapreneurship on the inside, and increasingly, by student-driven entrepreneurship on the outside.

    Students are becoming entrepreneurs

    Students aren’t waiting for permission; they’re reinventing how learning works. They adapt quickly, embrace emerging technologies and experiment boldly. Some might call it cheating. I’d call it testing the system.

    Today’s students no longer see education as a linear path to a degree. They see it as a launchpad for ideas.

    They’re using not just ChatGPT, but a full arsenal of AI tools — Perplexity, Gemini, Claude and more — to write business plans, generate branding, build MVPs and pressure-test real-world ideas. In fact, some aren’t just using tools; they’re creating their own. They’re not waiting to be taught. They’re teaching themselves how to build, launch and iterate.

    And yes, some of it is used for shortcuts. For cutting corners. For getting around assignments. Academic integrity is a real issue and one that institutions must address. But it’s also a signal that the system itself needs to evolve. These students are not just bypassing rules — they’re stress-testing the relevance of education as it exists today. And this is where intrapreneurs inside the system become critical to bridging the gap.

    Related: Why We Shouldn’t Fear AI in Education (and How to Use It Effectively)

    Intrapreneurs are moving institutions forward

    We all know that innovation rarely happens in the corner offices. The most powerful change isn’t coming from executive memos. It’s coming from the ground up.

    I’ve seen faculty members redesign assessments to include AI. Academic advisors build GPT-powered chatbots for student support. Department chairs test automated grading workflows while central IT is still writing policy. These are intrapreneurs — internal innovators leading with agility.

    My work has always been to help them scale and to get out of their way. Real transformation happens when governance, incentives and innovation align — and when execution is taken seriously.

    What institutions are doing that works

    Here are five moves I’ve seen deliver the greatest impact across leadership, faculty and students alike.

    1. Accept that change is inevitable: Ignoring, shaming or regulating innovation won’t stop it. Institutions must choose to engage with change, not resist it.

    2. Acknowledge that learning is now co-created: In many cases, students are more fluent in new tools than faculty. It may feel awkward — but that discomfort is the birthplace of co-creation and collaborative innovation.

    3. Support intrapreneurship and entrepreneurship: Encourage faculty and staff to experiment internally while also supporting students who are launching startups or prototyping ideas using AI.

    Institutions that move now are defining the next decade of learning. That doesn’t mean ignoring issues of academic integrity or the risks of cognitive offloading — we don’t know what we don’t know. But that uncertainty should inform us, not paralyze us.

    The institutions that will thrive in the next 1,000 days aren’t those with the most tech. They’re the ones that create space to adapt, listen and lead from every level — through both intrapreneurship and entrepreneurship.

    Related: How AI, Funding Cuts and Shifting Skills Are Redefining Education — and What It Means for the Future of Work

    Leadership is no longer a title; it’s a posture. Every instructor redesigning a course, every student experimenting with AI, every staffer who builds a better workflow is shaping the future of education.

    According to the World Economic Forum, over 40% of core job skills will shift in the next five years. That’s not a prediction — it’s a mandate.

    The only way forward is to build systems that learn as fast as the people in them. Presidents and provosts can provide vision, but it’s intrapreneurs who will make it real. Transformation won’t be dictated from above. It will be powered from within.

    AI is not the end. It’s the beginning of a new way of learning and a new kind of leadership.

    Coming next in the “1,000 Days of AI” series: Higher education wasn’t ready for AI, but students forced the conversation. K-12 is even more essential because critical thinking, ethical reasoning and digital fluency must begin long before college.

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    Alex Goryachev

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  • I Work With My Spouse — Here’s How We Do It Successfully | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Working with your spouse might sound like a dream come true — or a complete nightmare — depending on who you ask. For my husband Derek and me, it’s been an incredible adventure. Over the years, we’ve teamed up to build multiple businesses, and while it’s had its challenges, it’s also brought us closer together in ways I never imagined. Along the way, we’ve learned a ton about navigating entrepreneurship as spouses, and today, I’m sharing what’s worked for us to make it not just functional but rewarding.

    Whether you’re thinking about starting a business with your spouse or trying to fine-tune your existing setup, here’s why working with your partner can be amazing and how to make it work and make it fun.

    1. Shared goals strengthen your bond

    When Derek and I first started working together, we quickly realized how powerful it is to share a vision. We’re not just working toward financial success; we’re creating something that reflects both of us, giving us a shared sense of purpose.

    For example, our first business hit a snag early on, and instead of panicking, we leaned on our collective goal: creating a strong foundation for our family. That shared mindset gave us the focus to come up with solutions together. It’s like building a house brick by brick — you’re both invested in the outcome, which strengthens your partnership in and out of the office.

    Related: The Truth About Being in Business With Your Spouse — How to Navigate Work and Life Together

    2. Built-in trust and understanding

    Running businesses requires trust, and who better to trust than your spouse? We know each other’s strengths and quirks inside and out, which makes decision-making more efficient. If I’m uncertain about something, I know I can count on his perspective and vice versa.

    For example, we once had to negotiate a risky deal to renovate and take over a nightclub. Because we trust each other’s judgment implicitly, we were able to approach it with confidence. Knowing someone has your back makes all the difference when you’re taking big risks.

    3. Complementary strengths double your capabilities

    One of the best parts of our partnership is playing to each other’s strengths. I’m all about seeing the big picture and creative strategies, while Derek excels at managing details and logistics.

    We divide tasks accordingly. For example, in one of our retail ventures, I focus on marketing and brand development while Derek crushes it with inventory management and finances. This synergy means we cover more ground and we’re not stepping on each other’s toes.

    4. Celebrating wins feels even sweeter

    There’s something extra special about celebrating achievements when you’ve worked together to make them happen. Whether it’s launching something new, hitting a sales milestone or tackling a big challenge, every victory feels more meaningful.

    I’ll never forget the time we opened a second location for one of our businesses. It was an amazing feeling. These shared moments make all the hard work worth it.

    Related: The Pros and Cons of Working With Your Spouse

    5 tips for making it work

    While the benefits of working with your spouse are plenty, it’s not always smooth sailing. Here are the strategies Derek and I use to keep our personal and professional worlds in sync.

    1. Define roles clearly

    One of the easiest ways to run into trouble is by not being clear on who does what. To avoid overlap and conflicts, Derek and I divide responsibilities based on our strengths and agree on who takes the lead in specific areas.

    For example, I oversee branding and customer engagement while Derek handles operations and finance. This ensures we both have ownership in different areas, which eliminates unnecessary debates and increases efficiency.

    2. Create boundaries between work and personal life

    When your business partner is also your spouse, it’s easy for work to take over every conversation — even dinner. To protect our personal time, we set boundaries.

    Sundays (sometimes) are strictly no-work zones. These boundaries give us the freedom to reconnect as a couple, separate from our business lives.

    3. Communicate openly and often

    Communication is key for any business partnership and when you’re working with your spouse, it becomes even more important. We schedule regular discussions about work projects, goals and challenges to stay aligned.

    That said, we’ve learned to tackle the tough conversations, too. At one point, I felt overwhelmed by juggling business demands and home responsibilities. By sharing how I felt, we were able to redistribute our workload and bring in extra help where needed. Being open about issues early prevents misunderstandings from brewing.

    4. Celebrate milestones — big and small

    It’s important to pause and recognize your achievements, even the small ones. Try to find ways to celebrate, whether it’s a dinner date after closing a big deal or a simple toast at home when you hit a new monthly goal.

    These little moments of joy make all the hard work feel worthwhile and they will keep you motivated for the road ahead.

    5. Don’t shoulder everything alone

    Just because we’re a team doesn’t mean we don’t rely on outside help. From hiring employees to outsourcing specialized tasks, we’ve learned the value of delegating.

    For example, after bringing on a great bookkeeper, Derek was able to free up time for strategic planning — a mutually beneficial move. Knowing when and where to ask for help keeps us focused on what we do best.

    Related: I Run a Business With My Husband. Here’s How We Make It Work (and How You Can, Too).

    Final thoughts

    Working with your spouse brings its fair share of challenges, but when done right, it can strengthen your relationship and create opportunities you never imagined. Derek and I have grown not just as entrepreneurs but as partners, learning to lean on each other’s strengths, celebrate victories and tackle challenges head-on.

    If you’re thinking about starting a venture with your spouse, go for it! With clear communication, defined roles and a shared sense of purpose, you can build something incredible together and have a lot of fun along the way.

    Working with your spouse might sound like a dream come true — or a complete nightmare — depending on who you ask. For my husband Derek and me, it’s been an incredible adventure. Over the years, we’ve teamed up to build multiple businesses, and while it’s had its challenges, it’s also brought us closer together in ways I never imagined. Along the way, we’ve learned a ton about navigating entrepreneurship as spouses, and today, I’m sharing what’s worked for us to make it not just functional but rewarding.

    Whether you’re thinking about starting a business with your spouse or trying to fine-tune your existing setup, here’s why working with your partner can be amazing and how to make it work and make it fun.

    1. Shared goals strengthen your bond

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    Tonia Ryan

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  • My $2.25 billion exit taught me that Silicon Valley’s obsession with 100-hour weeks is actually sabotage. It’s a marathon, not a sprint

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    Silicon Valley is in the grip of AI panic. Companies are rushing towards AI at breakneck speed, boards are pressing for faster results, investors are asking startups “Where’s the AI?” if they haven’t jumped on the bandwagon already.  

    As a result, CEOs are arriving at meetings with urgent realizations about falling behind, founders are working extreme schedules, and entrepreneurs are sacrificing travel, vacation, and personal relationships for the cause. An all-nighter before a major launch has been a staple of the tech industry, making for a good story to tell afterward, but this is something different. The intensity is palpable; the AI revolution is creating both ecstasy and agony in equal measure, with the growing number of self-reported 100-hour workweeks or open-letter requests for the employees to work long-term 80-hour schedule.

    But observing this intensity firsthand, I believe there’s another perspective worth considering about building enduring businesses in times of disruption.

    Having built and sold a company for $2.25 billion, I’ve learned that the entrepreneurs who create lasting value—and the exits that matter—aren’t the ones burning themselves out in hundred-hour weeks. They’re the ones who understand that “overnight success takes seven years to build” and that working a 100-hour week over a prolonged period of time is unsustainable. 

    Success is a compounding game

    Building a business isn’t a sprint—it’s a marathon of sprints. In many team sports, such as hockey, the “repeat sprints” metric is a better predictor of performance than a straight-line dash. Business is the same way – you have to know when to push, but you also have to learn to recover quickly, and most importantly, how to keep going, over and over again. The real value doesn’t come from working nonstop for a quarter. It comes from compounding: compounding talent, compounding expertise in your industry, compounding brand recognition and customer trust, and compounding product capabilities.

    This compounding only happens when you’re in the game long enough to see it through. And you can only stay in the game if you’re operating at a sustainable pace.

    I learned my limits the hard way 

    Part of what makes a mature entrepreneur or executive is knowing where your limits are—both for long-term sustainability and short-term bursts—and mixing these modes of work strategically. There are times to sprint and times to pace yourself. The wisdom is in knowing which is which.

    When I started my first business at 18, I was simultaneously holding down a full-time job and pursuing my college degree. That pace would be unsustainable for me now, in my 40s with children. But here’s what the 100-hour evangelists miss: I more than compensate for any slight difference in hours with decades of practical experience, connections, and pattern recognition.

    The 100-hour workweek is a blatant myth

    Let’s be honest: many claims of 100-hour workweeks are either exaggerations or unsustainable anomalies. While there might be unique individuals who can genuinely sustain this pace, both personal experience and medical research consistently show that sleep-deprived people are less productive.

    More importantly, business and product development is a high-stakes game. We’re paid to make crucial decisions under uncertainty, often without complete information, and then live with the consequences. The quality of these decisions deteriorates rapidly with exhaustion. Would you want your surgeon operating on hour 95 of their workweek?

    When ‘hard work’ becomes a red flag

    Here’s a tell: when founders claim they’re tired of working too much, something is fundamentally wrong. When founders genuinely work long hours sustainably, it’s typically a labor of love — they’re energized by the work, not exhausted by it.

    The current AI panic is producing a different dynamic. Founders describe operating from profound paranoia, treating every fifteen minutes as having a price tag, feeling that everything is urgent and critical. This isn’t passion; it’s panic. And panic rarely produces good long-term decisions.

    It’s a mental game, and if you’re in the wrong mental mode, you won’t sustain long enough to see the benefits of compounding. You’ll burn out before your business model proves itself, before your team gels, before your product finds market fit.

    Companies lie about work-life balance (and it hurts everyone)

    I wish HR policies, both in Europe and the U.S., allowed companies and individuals to be more transparent about work expectations. It’s perfectly fine for some founders and companies to push hard—innovation often requires intensity. The problem arises when there’s a disconnect in expectations.

    Some startups need people willing to work startup hours. Some people thrive in that environment. The issue is when companies pretend they offer work-life balance while secretly expecting 80-hour weeks, or when candidates overestimate their work ethic during interviews. This disconnect hurts everyone.

    AI changes everything except human biology

    Yes, AI represents a significant technological shift. Yes, companies need to adapt. The urgency is real and well-documented. However, the laws of human physiology and psychology remain unchanged. Sustainable success still comes from building strong teams, making good decisions, and staying in the game long enough for your advantages to compound.

    My own experience validates this: the company I built to a $2.25 billion exit wasn’t the result of grinding 100-hour weeks. There was plenty of grind to go around. Still, more than that, it was the result of good teamwork and consistent, strategic decision-making over the years, building systems that could scale, and maintaining the mental clarity needed to navigate complex market dynamics. The founders who burned out early never got to see their compounding effects.

    The irony is that in rushing not to be left behind by AI, many are adopting work patterns that virtually guarantee their businesses won’t be around long enough to benefit from whatever AI revolution emerges. 

    Build for the long term. Know your limits, and be ready for the fact that there are people who can’t match them. Create sustainable excellence across the team. The compounding will take care of the rest.

    The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

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    Andrew Filev

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  • How to Protect Your Company From Deepfake Fraud | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In 2024, a scammer used deepfake audio and video to impersonate Ferrari CEO Benedetto Vigna and attempted to authorize a wire transfer, reportedly tied to an acquisition. Ferrari never confirmed the amount, which rumors placed in the millions of euros.

    The scheme failed when an executive assistant stopped it by asking a security question only the real CEO could answer.

    This isn’t sci-fi. Deepfakes have jumped from political misinformation to corporate fraud. Ferrari foiled this one — but other companies haven’t been so lucky.

    Executive deepfake attacks are no longer rare outliers. They’re strategic, scalable and surging. If your company hasn’t faced one yet, odds are it’s only a matter of time.

    Related: Hackers Targeted a $12 Billion Cybersecurity Company With a Deepfake of Its CEO. Here’s Why Small Details Made It Unsuccessful.

    How AI empowers imposters

    You need less than three minutes of a CEO’s public video — and under $15 worth of software — to make a convincing deepfake.

    With just a short YouTube clip, AI software can recreate a person’s face and voice in real time. No studio. No Hollywood budget. Just a laptop and someone ready to use it.

    In Q1  2025, deepfake fraud cost an estimated $200 million globally, according to Resemble AI’s Q1 2025 Deepfake Incident Report. These are not pranks — they’re targeted heists hitting C‑suite wallets.

    The biggest liability isn’t technical infrastructure; it’s trust.

    Why the C‑suite is a prime target

    Executives make easy targets because:

    • They share earnings calls, webinars and LinkedIn videos that feed training data

    • Their words carry weight — teams obey with little pushback

    • They approve big payments fast, often without red flags

    In a Deloitte poll from May 2024, 26% of execs said someone had tried a deepfake scam on their financial data in the past year.

    Behind the scenes, these attacks often begin with stolen credentials harvested from malware infections. One criminal group develops the malware, another scours leaks for promising targets — company names, exec titles and email patterns.

    Multivector engagement follows: text, email, social media chats — building familiarity and trust before a live video or voice deepfake seals the deal. The final stage? A faked order from the top and a wire transfer to nowhere.

    Common attack tactics

    Voice cloning:

    In 2024, the U.S. saw over 845,000 imposter scams, according to data from the Federal Trade Commission. This shows that seconds of audio can make a convincing clone.

    Attackers hide by using encrypted chats — WhatsApp or personal phones — to skirt IT controls.

    One notable case: In 2021, a UAE bank manager got a call mimicking the regional director’s voice. He wired $35 million to a fraudster.

    Live video deepfakes:

    AI now enables real-time video impersonation, as nearly happened in the Ferrari case. The attacker created a synthetic video call of CEO Benedetto Vigna that nearly fooled staff.

    Staged, multi-channel social engineering:

    Attackers often build pretexts over time — fake recruiter emails, LinkedIn chats, calendar invites — before a call.

    These tactics echo other scams like counterfeit ads: Criminals duplicate legitimate brand campaigns, then trick users onto fake landing pages to steal data or sell knockoffs. Users blame the real brand, compounding reputational damage.

    Multivector trust-building works the same way in executive impersonation: Familiarity opens the door, and AI walks right through it.

    Related: The Deepfake Threat is Real. Here Are 3 Ways to Protect Your Business

    What if someone deepfakes the C‑suite

    Ferrari came close to wiring funds after a live deepfake of their CEO. Only an assistant’s quick challenge about a personal security question stopped it. While no money was lost in this case, the incident raised concerns about how AI-enabled fraud might exploit executive workflows.

    Other companies weren’t so lucky. In the UAE case above, a deepfaked phone call and forged documents led to a $35 million loss. Only $400,000 was later traced to U.S. accounts — the rest vanished. Law enforcement never identified the perpetrators.

    A 2023 case involved a Beazley-insured company, where a finance director received a deepfaked WhatsApp video of the CEO. Over two weeks, they transferred $6 million to a bogus account in Hong Kong. While insurance helped recover the financial loss, the incident still disrupted operations and exposed critical vulnerabilities.

    The shift from passive misinformation to active manipulation changes the game entirely. Deepfake attacks aren’t just threats to reputation or financial survival anymore — they directly undermine trust and operational integrity.

    How to protect the C‑suite

    • Audit public executive content.

    • Limit unnecessary executive exposure in video/audio formats.

    • Ask: Does the CFO need to be in every public webinar?

    • Enforce multi-factor verification.

    • Always verify high-risk requests through secondary channels — not just email or video. Avoid putting full trust in any one medium.

    • Adopt AI-powered detection tools.

    • Use tools that fight fire with fire by leveraging AI features for AI-generated fake content detection:

      • Photo analysis: Detects AI-generated images by spotting facial irregularities, lighting issues or visual inconsistencies

      • Video analysis: Flags deepfakes by examining unnatural movements, frame glitches and facial syncing errors

      • Voice analysis: Identifies synthetic speech by analyzing tone, cadence and voice pattern mismatches

      • Ad monitoring: Detects deepfake ads featuring AI-generated executive likenesses, fake endorsements or manipulated video/audio clips

      • Impersonation detection: Spots deepfakes by identifying mismatched voice, face or behavior patterns used to mimic real people

      • Fake support line detection: Identifies fraudulent customer service channels — including cloned phone numbers, spoofed websites or AI-run chatbots designed to impersonate real brands

    But beware: Criminals use AI too and often move faster. At the moment, criminals are using more advanced AI in their attacks than we are using in our defense systems.

    Strategies that are all about preventative technology are likely to fail — attackers will always find ways in. Thorough personnel training is just as crucial as technology is to catch deepfakes and social engineering and to thwart attacks.

    Train with realistic simulations:

    Use simulated phishing and deepfake drills to test your team. For example, some security platforms now simulate deepfake-based attacks to train employees and flag vulnerabilities to AI-generated content.

    Just as we train AI using the best data, the same applies to humans: Gather realistic samples, simulate real deepfake attacks and measure responses.

    Develop an incident response playbook:

    Create an incident response plan with clear roles and escalation steps. Test it regularly — don’t wait until you need it. Data leaks and AI-powered attacks can’t be fully prevented. But with the right tools and training, you can stop impersonation before it becomes infiltration.

    Related: Jack Dorsey Says It Will Soon Be ‘Impossible to Tell’ if Deepfakes Are Real: ‘Like You’re in a Simulation’

    Trust is the new attack vector

    Deepfake fraud isn’t just clever code; it hits where it hurts — your trust.

    When an attacker mimics the CEO’s face or voice, they don’t just wear a mask. They seize the very authority that keeps your company running. In an age where voice and video can be forged in seconds, trust must be earned — and verified — every time.

    Don’t just upgrade your firewalls and test your systems. Train your people. Review your public-facing content. A trusted voice can still be a threat — pause and confirm.

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    Ivan Shkvarun

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  • 3 Continuity Plan Failures That Toppled Industry Giants | Entrepreneur

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    A Business Continuity Plan (BCP) is often something that many professionals do not pay close attention to. History has shown us that even industry giants can be humbled and collapse or lose significant income when they overlook critical vulnerabilities in their preparation for crises.

    This can range from overconfidence in their abilities and technologies used to geopolitical unawareness. If the blind spots are not managed carefully, severe crises can be escalated, which can even threaten the future of the business.

    This article will look at three catastrophic BCP failures that brought down industry titans. Every organization or company can learn lessons from these in order to ensure that they do not make the same mistakes.

    Related: The Cost of Unpreparedness: Why Many Businesses Lack a Continuity Strategy

    Overconfidence in technology — How Facebook lost brand value

    Many leading social networks were a few years ago always confident that their AI and automation would help them to solve crises without the need for human intervention. The overreliance can pose severe problems when complex problems arise.

    In 2018, Facebook was dealt severe embarrassment for its overreliance on its automation after an automated network configuration tool misapplied changes, which caused the disruption of its services to millions. The incident exposed a critical flaw in that no manual override was in place to be able to correct the error quickly.

    Facebook not only suffered reputational damage as users and advertisers lost trust in its reliability, but it also exposed its slow response as engineers struggled to diagnose the issue due to opaque system dependencies. There was also a lack of redundancy as no backup systems were activated in order to bypass the faulty automation.

    The big lesson to be learned from Facebook’s error is that automation is still just a tool and not yet a replacement for human judgment. BCPs must always include fail-safes — i.e., manual overrides for critical systems, scenario testing, which means regular drills for technology failures, and transparency in order to ensure clear communication protocols during outages.

    Related: Do You Have a ‘Business Continuity Plan’?

    A failure to recognize geopolitical certainty led to Adobe usurping Kodak

    It is important for major companies to always pay attention to geopolitical shifts and understand that a company has to regularly adapt depending on what happens in the world. Kodak was guilty of treating geopolitical shifts as distant risks, and this shortsightedness led to its downfall.

    It was actually Kodak that invented the digital camera, but rather than further developing it, they opted to bury the technology in order to protect their film business. Upon noticing that humans were migrating to digital systems, Adobe migrated earlier than Kodak, embracing cloud-based tools and recurring revenue models. Kodak paid the price for reacting too late and had to file for bankruptcy in 2012.

    Kodak paid the price as their leadership clung to legacy revenue streams, they didn’t have a BCP for disruptive tech adaptation and as they had ignored hard trends such as digital migration, which was inevitable.

    Learning from the example of Kodak, it is always important for companies to monitor trends and especially identify hard trends such as demographics and technology evolution in order to predict disruptions. Flexible frameworks should be developed in order to allow rapid pivots, and there should be shareholder alignment to ensure that leadership and teams are prepared enough for transformational change.

    The semiconductor shortage crisis was caused by underestimating supply chain vulnerabilities

    Many BCPs opt to focus on internal risks, such as cyberattacks, and neglect external dependencies such as global supply chains. The 2020-2022 semiconductor shortage was an example of this, as it crippled industries from automotive to consumer electronics.

    The Covid-19 pandemic disrupted most industries — global logistic networks and many companies that rely on “just in time” manufacturing, such as Toyota, faced massive production delays. Companies that did not have diversified suppliers and inventory buffers lost billions in income. Ford is estimated to have lost $2.5B due to chip shortages.

    Because of single-point failures and the fact that there was an overreliance on a handful of suppliers, some were toppled. There was also a lack of contingency stock, and the lack of buffer inventory for critical components greatly impacted businesses, while slow adaptation delayed reshoring and supplier diversification.

    Related: Your Business Faces More Risks Than Ever — Here’s How to Ensure You’re Prepared For Any Disaster

    The lesson from all of this is that for a BCP to be resilient, it must include supplier diversification, stress testing and inventory buffers. There should be partnerships with vendors across regions. Stress testing will stimulate supply chain disruptions in BCP drills, and inventory buffers help to maintain strategic reserves for critical materials.

    In today’s day and age, the difference between survival and collapse will often lie in analyzing and recognizing blind spots before they become problems. All businesses should aim to learn from the above scenarios because, in business continuity, complacency is the greatest risk of all, as it can lead to a business’s downfall.

    With the world and technology now constantly evolving, a company must embrace change and continuously work on finding ways to be relevant for the far future.

    A Business Continuity Plan (BCP) is often something that many professionals do not pay close attention to. History has shown us that even industry giants can be humbled and collapse or lose significant income when they overlook critical vulnerabilities in their preparation for crises.

    This can range from overconfidence in their abilities and technologies used to geopolitical unawareness. If the blind spots are not managed carefully, severe crises can be escalated, which can even threaten the future of the business.

    This article will look at three catastrophic BCP failures that brought down industry titans. Every organization or company can learn lessons from these in order to ensure that they do not make the same mistakes.

    The rest of this article is locked.

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    Chongwei Chen

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  • What Leaders Can Learn From the First 1,000 Days of ChatGPT | Entrepreneur

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    This September marks 1,000 days since ChatGPT entered public consciousness. In that short time, the world has undergone a seismic shift. AI, once a buzzword, has become a foundational force — reshaping workflows, boardroom agendas and entire industries. No organization or country, large or small, was immune. Generative AI, alongside Claude, Gemini and open-source models, hasn’t merely added features. It has reset the pace of innovation, widened performance gaps and exposed how few institutions were equipped to turn experiments into execution.

    Across verticals — from education and enterprise to pharma and public sector — one insight has proven consistent: The organizations that thrive with AI don’t start with tools. They start with people.

    Since the release of ChatGPT, I’ve worked with hundreds of organizations worldwide as an AI keynote speaker, transformation advisor and strategic consultant. My work has included delivering keynotes, facilitating AI innovation workshops and guiding C-suite leaders across industries through the turbulence of AI adoption. From global corporations and top universities to national governments and biotech pioneers, the same patterns — and the same roadblocks — have emerged.

    This article opens the “1,000 Days of AI” series: a practical, cross-vertical exploration of what AI has already changed, what lies ahead and what leaders must do now to build alignment, trust and momentum in the age of intelligent systems.

    Related: The World Is Splitting Between Those Who Use ChatGPT to Get Better, Smarter, Richer — and Everyone Else

    This isn’t an IT project

    Many organizations began their AI journey by outsourcing it to IT. Generative tools like ChatGPT were handed to CIOs. Roadmaps were requested. Pilots were announced. Platforms were compared. Meanwhile, momentum stalled.

    In contrast, the most adaptive organizations began by engaging employees. They looked at workflows, not tech stacks. They asked: Where does friction live, and who understands it best? Then they launched internal sprints to solve meaningful problems. Not everything scaled, but what did revealed where the real opportunity lies.

    AI is not a dashboard or chatbot. It is a system-level catalyst. It touches every department — legal, HR, finance, operations, marketing. It raises questions about ethics, accountability and the future of work. It requires organizations to stop thinking in silos and start working across them.

    The most effective transformation doesn’t come from strategy decks; it comes from people trusted to rethink their daily work. When organizations create space for this kind of thinking, momentum follows.

    The intrapreneur era has arrived

    Some of the most impactful applications of AI in the last 1,000 days didn’t come from senior leadership or external consultants. They came from within. Employees who noticed inefficiencies, tested generative tools and found a better way forward. These internal changemakers — intrapreneurs — are rebuilding their organizations from the inside out.

    During the strategy sessions I’ve led, it’s often the customer support agent who builds an AI-powered knowledge base, the compliance analyst who uses large language models to automate documentation or the professor who reinvents grading. These aren’t isolated moments; they’re the new standard of innovation.

    The most agile organizations surface these efforts early, reward the behavior and scale what works. They don’t wait for formal initiatives. They build cultures where permission is replaced by participation. And they move quickly — not recklessly, but with confidence.

    Related: How Corporate ‘Intrapreneurs’ Can Harness the Power of AI to Transform Their Businesses and Supercharge Their Careers

    AI is a multiplier of culture

    AI doesn’t transform culture — it reflects it. An organization grounded in rigidity and control will experience more of the same. One built on curiosity, collaboration and transparency will scale faster, learn faster and lead the market.

    The highest-performing organizations start with a clear principle: alignment precedes acceleration. They ask employees what slows them down and then act on the answers. They replace static org charts with cross-functional teams. They move from policies to prototypes.

    Governance isn’t an afterthought — it’s embedded in the process. Legal, HR and compliance are not blockers. They’re design partners. Together, they build systems that are ethical, inclusive and scalable from day one.

    AI is not just a toolset. It’s a leadership challenge. The organizations that rise to meet it build trust and transformation in parallel.

    What’s working now

    After delivering hundreds of AI keynotes and partnering with organizations across the globe, a new set of success principles has emerged:

    • Start with employees. Those closest to the work understand the friction and how to fix it.

    • Distribute capability. Don’t limit training to tech teams. The best ideas often come from HR, legal and finance.

    • Run AI sprints like business design. These aren’t software pilots. They’re rapid experiments in new ways of working.

    • Make governance collaborative. Build ethical and compliance guardrails with — not after — the business.

    • Scale internal wins. Share success stories. Build intrapreneur networks. Turn momentum into muscle.

    These practices aren’t aspirational. They’re already creating measurable outcomes for organizations willing to lead the change.

    Related: 2025 AI Innovation Insights — Lessons Learned From Over 127 Global Speaking Sessions

    The next 1,000 days demand boldness

    The experimentation phase is over. The next 1,000 days require depth, speed and alignment. Pilots must become platforms. Strategy must move beyond decks and into daily action.

    The real divide is no longer between AI adopters and skeptics. It’s between those who integrate AI into culture and decision-making — and those who simply deploy tools without changing the system around them.

    What defines leadership in this next wave isn’t technology. It’s the ability to build trust in AI, connect siloed teams and redesign work at scale. The future of work is already arriving. The organizations that act now will shape it.

    Those who move with courage and clarity will thrive. Others will find themselves part of someone else’s success story.

    Coming next in the “1,000 Days of AI” series: How AI is transforming education — and what schools, faculty and students must do now to stay ahead.

    This September marks 1,000 days since ChatGPT entered public consciousness. In that short time, the world has undergone a seismic shift. AI, once a buzzword, has become a foundational force — reshaping workflows, boardroom agendas and entire industries. No organization or country, large or small, was immune. Generative AI, alongside Claude, Gemini and open-source models, hasn’t merely added features. It has reset the pace of innovation, widened performance gaps and exposed how few institutions were equipped to turn experiments into execution.

    Across verticals — from education and enterprise to pharma and public sector — one insight has proven consistent: The organizations that thrive with AI don’t start with tools. They start with people.

    Since the release of ChatGPT, I’ve worked with hundreds of organizations worldwide as an AI keynote speaker, transformation advisor and strategic consultant. My work has included delivering keynotes, facilitating AI innovation workshops and guiding C-suite leaders across industries through the turbulence of AI adoption. From global corporations and top universities to national governments and biotech pioneers, the same patterns — and the same roadblocks — have emerged.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Alex Goryachev

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  • ‘What Hoop Did I Not Jump Through to Get That Title?’: How Olympian Shaun White Disrupted Winter Sports By Spotting What Everyone Else Missed | Entrepreneur

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    Shaun White, five-time Olympian and three-time Olympic gold medalist in half-pipe snowboarding, is more than familiar with winter sports. He’s lived and breathed it for years. But there was always one thing missing: No one was organizing or governing them.

    That’s where White’s latest venture, THE SNOW LEAGUE, has been a game-changer for winter sports athletes. With a mission to bring structure and excitement to skiing and snowboarding, he successfully completed his inaugural event in Aspen.

    White’s entrepreneurial mindset came from years as the best snowboarder in the world, observing the benefits and problems with how extreme sports are organized. White’s business acumen was forged on the half-pipe as well as by athlete-entrepreneurs like Jake Burton and Tony Hawk. What they brought to the tools of his trade, White would bring to events.

    Related: 4 Insanely Easy but Overlooked Tactics to Advance Your Entrepreneurial Career

    The entrepreneur was always there

    From his early days of living in a van with his family to make ends meet, White reflected on how that experience shaped his view of success.

    “But honestly, I look back and those were some of the most exciting times. I think those experiences gave me a deeper appreciation for where I am now,” says White. “If I’d had the best gear and all the resources from day one, it probably wouldn’t have meant as much to me.”

    As he gained skill and then started competing with the best snowboarders in the world, he listened to the more experienced athletes and heard about what made them successful as well as their struggles. Many of them had contracts with brands but were always concerned about not being renewed. He also noticed that the only person not concerned was Jake Burton, who owned his own brand.

    Another influence was Tony Hawk, the world-famous skateboarder and owner of Birdhouse Skateboards. White recalled all of the best skateboarders wanting to be associated with Hawk’s brand, considered the best in the world. But Hawk told White not to emulate someone else, and instead build something himself that others would want to emulate.

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

    Image Credit: Mike Dawson

    The problem others missed

    Many of the best entrepreneurs look for gaps in a market, and White is no exception. He saw that there was no governing body to organize the sport like an NHL, an F1 or a UFC. The snowboarding landscape was made up of random events scattered throughout the season. The events that paid the most might not qualify an athlete for the Olympics, but they needed those for the money that could sustain their careers. Lucrative events often required expensive travel, while other events that didn’t pay much actually could qualify you for the Olympics, or meant more to sponsors than to athletes because of TV viewership.

    This fragmented nature meant that the sport’s accolades didn’t coincide with an athlete’s achievements. White experienced this when he had an undefeated season.

    “And I got to the end of the season and they’re (reporters) like, ‘Amazing accomplishment, way to go! No one’s ever done that before!’ and I’m so happy with myself, ‘…but how does it feel to not be the world champion?’ I was like, what hoop did I not jump through to get that title?”

    White’s answer to these problems is THE SNOW LEAGUE. He created a framework that included a qualifying and ranking system, competitive scheduling and the highest prize purses ever offered in the sport.

    White’s credibility made it possible. He had the same frustrations they experienced, and because of that result, the project was met with a positive response from athletes as well as people in the industry.

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

    Building and executing

    Since starting THE SNOW LEAGUE, White has achieved some significant milestones like securing NBC as the league’s broadcast partner. Another was signing Eileen Gu as the league’s global ambassador. Gu was the first freestyle skier to win three gold medals in a single Winter Olympics as well as being a multi-gold medal winner in the X Games.

    Assembling the right team was the next step. White works closely with two main team members, Ian Warda and Omer Atesman, who are critical to achieving the league’s vision. White describes the insider knowledge Warda brings to the team.

    “He’s run the Burton U.S. opens and things like that for years and years and years. So he really knows the ins and outs of how to run a snowboarding competition. He gets the culture,” says White. Atesman, the CEO, came with previously existing investor relationships and leadership experience.

    A cultural innovation White brought into the league was equal pay for all athletes. White feels both men and women skiers and snowboarders take the same risks and achieve the same results, and should therefore get the same compensation. The policy also helps deepen the field of female athletes in the league.

    The entrepreneurial philosophy

    White uses several factors to decide whether an opportunity is worth pursuing. First, he looks at the product itself and decides if he likes it and if it’s authentic to him, seeing if it appeals to the humorous, serious or competitive side of his nature.

    He looks at other ventures through the lens of how involved he wants to be in the project. High Cascade Snowboarding Camp in Mt. Hood, Oregon, a park where White attended snowboard camps as a child, inspired him to become an investor in the camp’s parent company.

    White also uses the backcountry as other executives use the golf course. He takes potential investors on a skiing or snowboarding trip to show them his world, and they get to experience a departure from the typical 18-hole business negotiation.

    Nowadays, White does his best to give back. He recently appeared on the SoFi podcast Richer Lives to talk about building businesses, negotiating contracts and more.

    For aspiring snowboarders, White has advice drawn from both a successful snowboarding and business career.

    “Wear your helmet. That’s always the first thing I say. And then — learn as much as you can, especially about your finances. Don’t just hand it off to someone else and hope they handle it right,” says White. “Take the time to understand where your money’s going, how it’s working for you. The more you know, the better off you’ll be in the long run.”

    White has transitioned his measurement of personal success from medals to intangibles. “Today I measure most of my success within what’s happening in my personal life, with friends, with family. The things that riches don’t really buy you.”

    But he also understands that an eye needs to be focused on business success as well. “I feel like as long as there’s just steady growth, are we learning from mistakes? Are we making the same mistakes as before? As long as we’re learning and moving forward and growing, then I’m pretty happy with everything.”

    On the horizon

    White has plans to increase the number of events in THE SNOW LEAGUE with the addition of freestyle snowboarding. With a successful Aspen event completed and a second scheduled for the end of 2025, there are LEAGUE events scheduled in both China and Switzerland for 2026. After that, White has plans to expand to the southern hemisphere with events in South America, New Zealand and Australia to make THE SNOW LEAGUE a truly global tour.

    Shaun White, five-time Olympian and three-time Olympic gold medalist in half-pipe snowboarding, is more than familiar with winter sports. He’s lived and breathed it for years. But there was always one thing missing: No one was organizing or governing them.

    That’s where White’s latest venture, THE SNOW LEAGUE, has been a game-changer for winter sports athletes. With a mission to bring structure and excitement to skiing and snowboarding, he successfully completed his inaugural event in Aspen.

    White’s entrepreneurial mindset came from years as the best snowboarder in the world, observing the benefits and problems with how extreme sports are organized. White’s business acumen was forged on the half-pipe as well as by athlete-entrepreneurs like Jake Burton and Tony Hawk. What they brought to the tools of his trade, White would bring to events.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    John Boitnott

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  • I Stopped Doing These 3 Things Myself — and It Made My Business More Profitable | Entrepreneur

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    In the early days of any business, most founders wear too many hats. You’re the product lead, marketer, customer service rep and ops manager — sometimes all in the same afternoon.

    I’ve been there. When I was launching my first AI startup, I was writing code, answering support tickets, hacking on SEO and trying to figure out Google Ads at night. Every time I jumped from one thing to another, I paid a tax: ramp-up time, mental fatigue, missed details.

    Eventually, I drew a line: if a function had a steep learning curve, wasn’t core to the product or customer experience, and could burn cash fast if I got it wrong, it had to go.

    Here are the first three things I outsourced — what worked, what didn’t and how I make the decision now.

    Related: How to Turn Big Business Moments Into Lasting Brand Momentum

    1. Google Ads had to go first

    I took a real swing at it. I set up campaigns, followed Google’s recommendations and even tried Performance Max. One day it would “work,” the next day I’d spend $90 to make a $24 sale.

    Whether you’re running a SaaS tool, an ecommerce store, or a local service business, paid ads can become a black hole. The learning curve is steep, the platform is opaque by design and Google is always nudging you to spend more so the algorithm can “learn.”

    I hired a specialist. Instantly, I stopped burning time trying to reverse engineer bidding strategies and keyword intent. I could focus on the roadmap, customers and the parts of marketing I actually understood. Worth every dollar.

    My advice: Try it briefly so you understand the vocabulary and the levers. Then get out. Your money will disappear faster than your learning compounds.

    2. Social media was next — and it blew up (in a bad way)

    I outsourced content and channel management to someone who promised to “crush it.” I gave full access to my accounts. It devolved into drama, threats and low-quality work. I shut it down.

    The lesson? Never give full control of a distribution channel to someone you don’t know, and never confuse enthusiasm with competence. Social media can be valuable for any business building in public — but only if it’s handled by someone you trust and can hold accountable.

    Next time: I’ll only outsource to someone vetted by people I trust, with scoped access, clear deliverables and a kill switch.

    3. PR was the third — and it worked

    I’d watched competitors outrank me and land strong stories. I tried the DIY route (like HARO), but the ROI wasn’t there. So I brought in someone who could own the process — strategy, pitching, follow-through — and translate my product into narratives reporters actually want.

    That freed me to focus on what I do best while the media engine ran in parallel. For businesses in crowded markets or emerging categories, this kind of PR support can be game-changing.

    How I decide what to outsource now

    I use a simple filter:

    • Is this core to the product or user experience? If yes, I keep it.
    • Is the learning curve steep enough that I’ll waste weeks for marginal improvement? If yes, I outsource.
    • Could a mistake here be disproportionately expensive? (Ads and legal are great examples.) Outsource.
    • Do I understand it well enough to evaluate the work? If not, I’ll do a quick self-guided crash course, then bring someone in.
    • Can I structure a small, low-risk test? If yes, I do that before any retainer.

    Handling the handoff while staying lean

    I started with literal paper notes, then the Mac Notes app. Today, I still keep it simple: Trello boards when needed, email for most communication, and regular short check-ins. The point is clarity, not tooling.

    One clear metric, one owner, one cadence.

    Access-wise: role-based logins, password manager and instant revocation baked into the plan. That social media experience burned this into my process.

    Related: How to Actually Get Returns in Your Marketing Efforts

    About that “it’s faster if I do it myself” line…

    It isn’t. It just feels faster because you don’t have to explain anything. In reality, you’re trading days of deep work for weeks of shallow thrash.

    Do enough to understand it. Then move it off your plate — so you can focus on what only you can do.

    You can’t do it all — not for long and not well. Start by outsourcing the work that burns cash when done poorly, has a steep learning curve, or pulls you furthest from the product or customer. Keep control of your infrastructure, build small, reversible contracts and measure everything.

    The cost of trying to be superhuman is higher than the cost of a good specialist.

    In the early days of any business, most founders wear too many hats. You’re the product lead, marketer, customer service rep and ops manager — sometimes all in the same afternoon.

    I’ve been there. When I was launching my first AI startup, I was writing code, answering support tickets, hacking on SEO and trying to figure out Google Ads at night. Every time I jumped from one thing to another, I paid a tax: ramp-up time, mental fatigue, missed details.

    Eventually, I drew a line: if a function had a steep learning curve, wasn’t core to the product or customer experience, and could burn cash fast if I got it wrong, it had to go.

    The rest of this article is locked.

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    Jeremy Gustine

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  • How One Man Conquered the World’s Toughest Peaks — and Built a Brand Every Founder Should Study | Entrepreneur

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    After conquering the world’s 14 toughest peaks in record time, Nepali-born Nims Purja rose as a bold voice for the often-overlooked Sherpa guides. In the process, he became the first true celebrity mountaineer of the social media era — and one of the most debated figures in the global climbing scene.

    His path wasn’t paved with venture funding or viral hacks — it was carved out with ice axes, discipline and a refusal to accept the limits others set. Purja is not just a climber; he’s an entrepreneur of his own brand, built atop grit, story and bold vision. His journey offers timeless insights for anyone aiming to build a global presence and leave a legacy.

    Dare to dream bigger

    By climbing all 14 of the world’s 8,000-meter peaks in just six months and six days — a feat that previously took others nearly a decade — he didn’t compete within the old standards; he created a new one entirely. For entrepreneurs, the lesson is clear: Don’t aim to improve marginally on what’s been done — dare to redefine the game itself.

    Apply the 10x framework: Instead of asking “How can we improve by 10%?” challenge yourself to ask “How can we deliver 10x the value?” A local restaurant shouldn’t just aim to be “better.” They should ask: “How can we create an experience so unique that customers travel 30 minutes just to eat here?” Take 30 minutes this week to list your current business goals, then rewrite each one using 10x thinking.

    When you operate with bold vision, relentless execution and unapologetic ambition, you don’t just enter the market — you reshape it. Purja’s example teaches founders that category leadership doesn’t come from incrementalism; it comes from delivering results so extraordinary that they spark a global conversation.

    Related: Dream Big: 3 Ways to Fight Off Doubt and Build the Business You’ve Always Wanted

    Own your narrative

    Purja’s rise to global prominence wasn’t just about his physical feats — it was also about how masterfully he told his story. Through his book Beyond Possible, the Netflix documentary 14 Peaks and a consistent, personal presence on Instagram, Purja controlled the narrative of his journey, spotlighting not just his own achievements but also celebrating his team, clients and fellow Nepali climbers.

    Master the three-channel system: Choose one primary social platform where you’ll post daily, add one long-form medium (blog, newsletter or LinkedIn articles) for weekly deep-dives, and secure one multimedia opportunity monthly (podcast, video or speaking engagement). Use the 70-30 rule: 70% behind-the-scenes process content, 30% final results.

    Importantly, when faced with allegations of misconduct in 2024, Purja used his platforms to respond directly, transparently and on his own terms.

    Prepare your crisis playbook now: When facing criticism, respond within 24 hours using this framework: Listen to the concerns (take 24 hours to process), acknowledge any valid points, respond with facts and your next steps, then follow through publicly. The lesson for entrepreneurs is powerful: In today’s digital age, owning your narrative means owning your audience, your brand and your resilience.

    Transfer skills across domains

    One of the most underrated superpowers in entrepreneurship is the ability to transfer skills across domains. Purja’s background in the British Gurkhas and the U.K.’s elite Special Boat Service wasn’t just a footnote in his story; it was the foundation. The discipline, decision-making under pressure, team cohesion and mental fortitude he developed in the military directly fueled his success in extreme mountaineering.

    Complete a skills audit: Take two hours this month to map your previous experiences. Create three columns: your past career or major experience, the specific skills you developed and how each could differentiate your current business. Focus on skills your competitors likely don’t have — these become your unfair advantage. A former teacher launching a business might leverage lesson planning abilities for customer onboarding, while an ex-military professional could apply tactical decision-making frameworks to client strategy sessions.

    Entrepreneurs often overlook the value of their past experiences — whether it’s a former career in a different industry, a side hobby or even personal challenges — but it’s often these very experiences that spark breakthrough ideas or create a unique edge. That unusual blend of backgrounds becomes your unfair advantage. Innovation doesn’t always require inventing something new; sometimes, it’s about repurposing what you already know in a way the world hasn’t seen before. The key is to recognize the transferable gold in your own journey and have the courage to apply it boldly in new arenas.

    Related: How My Old Job Secretly Prepared Me to Build a Thriving Business

    Monetize with meaning

    Books, talks, gear, coaching — these aren’t just revenue streams; they’re powerful brand extensions that reinforce your story and values. Purja turned his mountaineering journey into a multifaceted brand by writing a bestselling book (Beyond Possible), starring in a Netflix documentary, launching branded gear and offering high-end expeditions and coaching experiences. Each extension aligns with his core narrative of resilience, pushing limits and elevating others — strengthening his personal brand and expanding his reach.

    Build the four-stream model: Structure your revenue as 60% core service, 20% educational content (courses, books, workshops), 15% physical products or branded items and 5% high-value consulting or group programs. Start by perfecting your core offering and documenting your process. Then, in month two, create your first educational product — an eBook, video series or workshop. Month three, launch one branded physical item. By month six, add a premium consulting or mastermind component.

    Small businesses can apply this same approach, even on a modest scale. A local fitness studio could publish an eBook on home workouts, host online wellness webinars, sell branded apparel and offer one-on-one coaching for clients looking to build sustainable fitness habits. A bakery might launch a recipe blog, host virtual baking classes, sell branded tools like aprons or spatulas and speak at local events about entrepreneurship or sustainability.

    The key is to create extensions that tell your story in different formats — whether it’s education, merchandise or experiences — so your audience engages with your brand on multiple levels. When done thoughtfully, these extensions don’t just generate income — they deepen loyalty and turn your business into a lifestyle.

    Root in purpose

    Purja’s rise wasn’t just about personal glory — it was about collective recognition. From the start, he made it clear that his mission wasn’t only to break records but to uplift the often-uncredited heroes of Himalayan climbing: the Sherpas and Nepali guides who have long risked their lives on the world’s highest peaks like Everest without global recognition. By intentionally sharing the spotlight, forming all-Nepali climbing teams and using his media platforms to name and celebrate others, Purja shifted the narrative from individual achievement to collective pride.

    Apply the 20% rule: Dedicate one-fifth of your content and platform to highlighting others in your ecosystem. Create a monthly rotation: Week 1, feature a team member; Week 2, spotlight a supplier or partner; Week 3, showcase a customer success story; Week 4, amplify someone in your industry who deserves recognition. Track engagement rates on these posts versus self-promotional content — you’ll often find that generous content performs better.

    For entrepreneurs, this is a powerful lesson: Your platform is not just a megaphone for your success — it’s a tool for impact. Whether it’s amplifying the voices of overlooked teammates, underrepresented communities in your industry or emerging talent in your field, using your influence to lift others builds long-term credibility, loyalty and brand depth. In a world that values authenticity and purpose, advocacy isn’t just the right thing to do — it’s also a strategic move that differentiates you as a leader with vision and heart.

    Related: How Defining Your Purpose Can Help Attract the Right Clients, Build Culture and Drive Success

    Becoming a global superstar isn’t just about talent — it’s about vision

    Purja’s rise reminds us that superstardom doesn’t come from chasing fame — it comes from chasing the extraordinary and bringing others with you. Whether you’re building a startup, a personal brand or a social movement, the path to global recognition is paved with authenticity, audacity and advocacy.

    Your 90-day implementation plan: Start with one framework this month — perhaps the skills audit or three-channel narrative system. Master it over 30 days, measuring your progress weekly. Month two, add the four-stream revenue approach or 20% advocacy strategy. By month three, integrate 10x thinking into your biggest business challenge. Each framework builds upon the others, creating a comprehensive approach to authentic growth.

    The question isn’t whether you can reach the summit — it’s whether you’re ready to believe the summit isn’t high enough.

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    Liliana Pertenava

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  • Black Tap Adds New Concepts Tender Crush and Singles & Doubles | Entrepreneur

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    In 2015, Julie Mulligan and her husband Chris Barish opened Black Tap, a laid-back burger joint in New York City’s SoHo. “It was inspired by the images and music we grew up with: Warhol, Basquiat, ’80s and ’90s hip hop and pop,” Mulligan told Entrepreneur.

    Since its launch, Black Tap has expanded nationally and globally, thanks in part to its viral social media-friendly CrazyShakes.

    As the company announced new iterations of the brand — Tender Crush, a crispy chicken concept at the Rio in Vegas, in SoHo, and at Terminal 8 in JFK this fall; and Singles & Doubles, a fast-casual burger concept also coming to JFK’s Terminal 8 — we spoke with Mulligan, Black Tap’s CEO, about how they’ve managed to stand out in a crowded fast-casual market.

    What inspired you to create this business?
    We opened Black Tap 10 years ago, thinking a burger joint would be a nice addition to the neighborhood. We went on to win a handful of awards for our burgers and shakes that same year and in early 2016 our CrazyShakes ‘broke the internet.” The rise of social media and sharing food and drink online right around the same time as our launch allowed us to quickly get exposure on a whole new level. Our “aha moment” was seeing regular three-hour lines down the block and around the corner. We quickly realized we needed more seats, and we’ve been set on bringing the experience to people around the globe ever since. We’ve served over 10 million guests, 5 million burgers, and 2 million CrazyShakes, which blows our minds!

    In terms of marketing, can you share your process for effectively embracing social media?
    It’s always changing. Two core principles to keep in mind are 1) the need to find your authentic voice and style to stand out in a sea of infinite content, and 2) connection with community and engagement is critical.

    Who are some of the A-listers you’ve heard from over the years?
    Millie Bobby Brown, Katie Holmes and her daughter, Brooke Shields, Ja Rule, Kristin Chenoweth, Vanessa Hudgens, Greg Norman, and Michael Strahan are just some of the numerous bold-face names we’ve been fortunate enough to come by.

    Related: Michael Strahan Shares the Mindset That Drives His Success

    What has been the deciding factor in your expansion?
    While we started our expansion out of necessity, we’ve gone on to seek out iconic locations around the world. We aim to be accessible and desirable to a mix of locals, business, tourists, and social patrons.

    What advice would you give entrepreneurs looking for funding?
    As you’re developing your business plan and pitch, put yourself in the shoes of someone who has no understanding or interest in your business. If you can make a compelling case to them why it’s a good investment, then you should be off to a good start.

    Related: How to Secure the Funding You Need for Your Startup

    What does the word “entrepreneur” mean to you?
    It means wearing a lot of hats and playing a lot of roles on a day-to-day basis. It’s a blessing in the sense that you are always learning, it’s never dull, and there’s always something new. It’s also a 24/7 role where you’re never fully on vacation.

    What is something many aspiring business owners think they need that they really don’t?
    You’ll never have everything 100% figured out, so don’t delay waiting for that moment to come. Do it now. Actions speak louder than words. The game is never over until you stop playing.

    In 2015, Julie Mulligan and her husband Chris Barish opened Black Tap, a laid-back burger joint in New York City’s SoHo. “It was inspired by the images and music we grew up with: Warhol, Basquiat, ’80s and ’90s hip hop and pop,” Mulligan told Entrepreneur.

    Since its launch, Black Tap has expanded nationally and globally, thanks in part to its viral social media-friendly CrazyShakes.

    The rest of this article is locked.

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    Dan Bova

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  • What I Learned About Growth From Founders Who Started Small | Entrepreneur

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    Starting a business with limited resources is a road many solopreneurs find familiar — myself included. I’ve observed many small business owners turning modest startups into success stories, but it doesn’t happen overnight. They turn their humble ideas into successful ventures with resilience, creativity, smart technology use and a never-accept-defeat attitude.

    For this article, I’ll draw on my personal experiences and the stories of five founders who started small. These practical lessons apply to your entrepreneurship journey as well.

    Related: Boost Your Solopreneur Business with These 3 Proven Tips

    Start by solving authentic problems

    Sara Blakely launched Spanx in 2000 when she was under 30 years old and had $5,000 to her name. But her self-employment journey started with a simple notion: her personal frustration with not finding comfortable, flattering undergarments to wear. Even though her idea, which later turned out to be worth $1 billion, was rejected by multiple manufacturers, her conviction kept her persistent until she finally found someone willing to take a chance on her.

    Her story tells me that entrepreneurs must start with a problem they’re actually familiar with and deeply understand. Authenticity resonates with your core audience; it builds trust from day one. When your product stems from your own experiences and frustrations, you create an immediate connection with your would-be buyers, leading to strong word-of-mouth.

    Turn setbacks into stepping stones

    Calling himself a lousy employee, Mark Cuban admits that keeping a steady job was difficult for him. But Cuban never quit on himself and ultimately founded and sold MicroSolutions for $6 million. What I learn from his example is that setbacks are inevitable — and necessary. What matters is how quickly you bounce back from failure and what lessons you learn from your past mistakes.

    The Bureau of Labor Statistics states that 20% of small businesses shut down in a year or so. But successful solopreneurs treat these setbacks as experiments. When you start treating obstacles as stepping stones, you can easily adapt after failure and launch a working product.

    Launch small and use what you have

    Fubu’s founder, Daymond John, started this fashion brand in the 1990s by sewing hats and shirts in his mother’s living room. He didn’t have big budgets or state-of-the-art facilities. But he relied on grassroots marketing and community support to end up selling $6 billion worth of products by 2024, turning a kitchen-based hustle into a global fashion powerhouse.

    John’s story tells me that a lack of capital shouldn’t hold solopreneurs back. Instead, they should fall back on their skills, their immediate network and whatever resources are available at hand. Grit and creativity often outweigh money. This lesson speaks to me personally, since I built Selzy with a minimal viable product while relying on customer feedback for improvement.

    Related: Building Your Business With Limited Resources? Here’s the Mindset You Need to Succeed.

    Embrace digital-first and lean growth

    Automation, social media and efficient scaling. That’s how anyone can launch on budgets under $10,000. Technology lets small businesses thrive and expand into other markets. You can use email marketing tools to reach out to potential leads and advertise your business. Syed Balkhi’s WPForms is a great example here. Balkhi’s WordPress tutorial blog led to the creation of a $1 billion software company, and he did all that without raising a single dollar of his own.

    That’s how many modern-day solopreneurs are scaling past six figures. Technology allows founders to go global earlier than was possible a decade ago. Smart customer segmentation and personalized communication help them drive more engagement. And with the right tools, even small teams working remotely can achieve impressive growth with fewer resources.

    Turn your mistakes into learning opportunities

    Sophia Amoruso’s example teaches us to fuel our future successes with past failure. When her startup, Nasty Gal, became shaky after turning into a $100-million brand, she simply pivoted and launched another brand, Girlboss, a platform focused on redefining success for a new generation of women.

    Solopreneurs must always be ready to reinvent and adapt to changing consumer demands to position their business for long-term relevancy and success. Accepting that my idea didn’t work helps you thrive in a competitive industry.

    Related: How to Turn Your Mistakes Into Opportunities

    Put all these real-life lessons into action

    Growth is about your vision, resilience and continuous learning — the sign of a solopreneur who is ready to bend to fluctuating market standards and customer expectations. In fact, my experience with digital marketing and AI-powered growth tells me that these principles are universally applicable.

    Starting small isn’t a limitation for future-ready solopreneurs; it’s an opportunity to build strong foundations. It’s not how big you start (some of the world’s biggest brands were started by their founders in garages), but you keep learning and moving forward. I’ve tasted defeat and I’ve met setbacks — I recommend adaptability.

    Starting a business with limited resources is a road many solopreneurs find familiar — myself included. I’ve observed many small business owners turning modest startups into success stories, but it doesn’t happen overnight. They turn their humble ideas into successful ventures with resilience, creativity, smart technology use and a never-accept-defeat attitude.

    For this article, I’ll draw on my personal experiences and the stories of five founders who started small. These practical lessons apply to your entrepreneurship journey as well.

    Related: Boost Your Solopreneur Business with These 3 Proven Tips

    The rest of this article is locked.

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    Dmitry Solovyev

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  • The FTC is Shaking Up Employment Law — Here’s How Entrepreneurs Can Adapt | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The Federal Trade Commission (FTC) has triggered a seismic shift in U.S. labor policy, issuing a final rule that effectively bans new non-compete agreements. Long used to restrict worker mobility, these contracts are now in limbo after immediate legal challenges halted the rule.

    This guide breaks down what you need to know to protect your business and turn disruption into advantage.

    A deep dive into the FTC’s final rule

    The FTC’s final rule declares that “non-compete clauses represent an unfair method of competition and therefore violate the FTC Act.” This sweeping protection extends beyond employees to interns, contractors, volunteers and sole proprietors, aiming to boost worker mobility and innovation. States are following suit — New York, for example, has proposed banning non-competes for lower-wage workers.

    The key exception: Selling your business

    The rule carves out an exception for founders and business owners: non-competes are still allowed in selling a business, ownership interest or substantial assets. This lets entrepreneurs include non-competes in exit deals, a common condition for preserving company value.

    What about existing non-competes?

    The FTC’s rule is retroactive: most existing non-compete agreements will become unenforceable. An exception applies to senior executives — policy-making employees earning over $151,164 annually — whose current agreements remain valid. However, no new non-competes may be created or enforced, ensuring future workers cannot be restricted.

    Related: What to Know About These Tricky Employment Agreements

    The court challenge halting the rule

    Business groups, joined by the U.S. Chamber of Commerce, sued to block the FTC’s non-compete ban. In July 2024, a Texas federal court issued a nationwide injunction, finding the FTC likely lacked authority. The ban is on hold, leaving businesses under state laws like the Texas Covenants Not to Compete Act.

    The FTC’s shifting stance adds uncertainty. With new leadership, the agency has asked for 60 more days to decide whether to defend the non-compete ban, signaling it could be withdrawn or altered. For entrepreneurs, the takeaway is clear: even if the federal rule stalls, cultural and state-level momentum against non-competes is growing — making it wise to prepare for fewer talent restrictions.

    Shifting from restriction to proactive protection

    This period of legal uncertainty offers entrepreneurs a chance to modernize HR and compliance strategies. Proactive business owners can strengthen defenses now rather than wait for final court rulings.

    This is precisely why proactive businesses are shifting their focus. It’s no longer just about reacting to potential legal challenges; it’s about building a framework that makes your company an employer of choice, insulating you from disputes in the first place.

    Failing to adapt is costly: defending and settling an employment claim averages $75,000, while jury awards can reach $217,000 — making proactive compliance a smart business investment.

    Related: 5 Situations That Require a Non-Disclosure Agreement

    Your new legal toolkit

    With non-competes in doubt, entrepreneurs must turn to narrower, more enforceable tools that protect business interests without blocking former employees from making a living.

    • Non-Disclosure Agreements (NDAs): Essential for protecting proprietary information; must clearly define trade secrets without being overly broad.
    • Non-Solicitation Agreements: Help safeguard clients and staff by preventing ex-employees from poaching for a set period; some jurisdictions allow limited clauses.
    • Trade Secret Policies: Written policies should define trade secrets and establish strict handling procedures, strengthening legal protection.
    • Invention Assignment Agreements: Critical in tech, creative and R&D fields to ensure employee-created IP belongs to the company.

    When to seek expert guidance

    Navigating state laws, federal rulings and the uncertain FTC non-compete rule is complex. With high-profile challenges and specialized cases emerging, expert counsel is vital to ensure agreements are enforceable and safeguard your business against litigation.

    The decline of non-competes is a major opportunity for entrepreneurs. Without restrictive agreements, startups and small businesses can finally recruit top talent, once locked into big corporations, leveling the playing field and fueling a new wave of innovation.

    Related: This AI-Driven Scam Is Draining Retirement Funds—And No One Is Safe, According to the FBI

    Winning the war for talent with culture, not contracts

    Business owners must shift from restriction to retention. The best defense is a workplace where top people never want to leave — built on culture, loyalty, engagement and shared mission. Investing in your team is now your strongest competitive edge.

    • Focus on culture: Create a positive, transparent and rewarding work environment where people feel valued and psychologically safe.
    • Invest in growth: Offer clear career paths, mentorship programs and professional development opportunities that show employees you are invested in their future.
    • Competitive compensation: Ensure salaries, benefits and equity packages are competitive for your industry and geographic location.
    • Recognize and reward: Implement formal and informal systems to acknowledge hard work, celebrate wins and reward your team members’ valuable contributions.

    Navigating the new frontier of employee mobility

    Regardless of its final legal fate, the FTC’s non-compete ban has fundamentally altered the conversation around employee rights and corporate strategy. For savvy entrepreneurs, this isn’t a time for panic but for preparation.

    You can position your business by strengthening your NDAs and other protective agreements, doubling down on a positive company culture that retains and attracts talent and viewing greater employee mobility as an opportunity rather than a risk. The era of locking in employees with restrictive contracts is ending; the era of winning their loyalty has begun.

    The Federal Trade Commission (FTC) has triggered a seismic shift in U.S. labor policy, issuing a final rule that effectively bans new non-compete agreements. Long used to restrict worker mobility, these contracts are now in limbo after immediate legal challenges halted the rule.

    This guide breaks down what you need to know to protect your business and turn disruption into advantage.

    A deep dive into the FTC’s final rule

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Boris Dzhingarov

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  • Most Founders Start With the Product. I Started With These 3 Questions Instead. | Entrepreneur

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    Too many founders start with the product. They get excited, build something, and then scramble to figure out if anyone actually wants it.

    I almost did the same. Technically, I started by generating silly AI images of my boss to make my coworkers laugh. But when I saw the potential of the tools I was playing with — and how accessible they were becoming — I realized I could turn it into something real.

    I didn’t have a background in AI or deep learning. But with open-source tools like Stable Diffusion suddenly available, people like me could build things that felt like magic.

    And like most entrepreneurs, I wanted to move fast. But instead of rushing to build, I gave myself a reality check. I asked three hard questions before writing a line of code. That checklist became the foundation of my business — and helped me avoid wasting months (and money) on a product no one wanted.

    These same questions apply whether you’re launching a SaaS company, a consumer product, a service-based business, or, yes, an AI tool.

    Related: AI Isn’t Plug-and-Play — You Need a Strategy. Here’s Your Guide to Building One.

    1. Is there real demand?

    Before investing anything in product development, I set up a test. I opened an Etsy store selling AI-generated pet portraits during the holidays. It was clunky. Every order meant I was manually training models and fulfilling them by hand.

    But people paid. They loved the results. It wasn’t scalable — yet — but that didn’t matter. It gave me proof:

    • I could deliver something people genuinely valued
    • They were willing to pay for it

    This kind of early signal is more important than a sleek prototype or a detailed roadmap. For you, it might mean selling a simplified version of your offer, pre-selling a service, or running a paid pilot. The goal is the same: confirm there’s real demand before you build at scale.

    2. Will people pay me — and how?

    After validating interest, I started experimenting with pricing. We tested $15, then $25. We ran ads on Reddit. Some worked, most didn’t. I tried subscriptions — but quickly realized that running custom-trained models on demand was too expensive to support recurring plans at an early stage.

    So I switched to a one-time payment model. Simple, low-friction, no complicated onboarding. We started at $9.99, and conversions were strong. Over time, we added higher-tier pricing — but from day one, the business had to make financial sense.

    Many people advised offering a freemium version. I considered it, but GPU costs made that unrealistic. Instead, I built a free tool that looked like our main offering (an AI headshot generator) but was actually a low-cost background remover. It gave users a taste of the experience and warmed them up to buy. And it converted.

    The takeaway? Revenue models aren’t just about pricing — they’re about sustainability. Founders often over-index on what’s ideal for the user and forget what’s viable for the business.

    3. Can I actually reach people?

    I didn’t have an audience. I didn’t have connections or media buzz. But I had Reddit.

    I started joining threads where people were talking about AI headshots. I added value, offered comparisons, answered questions — and eventually, shared my own product. That got us our first 100 customers. We used Google Ads to scale to 1,000.

    It wasn’t viral. It wasn’t pretty. But it worked. Why? Because I focused on solving the hardest part of distribution first: attention and trust.

    When people think about go-to-market, they think channels. But it’s better to think in terms of risk:

    • Can you find the right people?
    • Can you earn their attention?
    • Can you convert them — without overspending?

    If the answer is no, it doesn’t matter how good the product is.

    Related: AI Will Define Your Brand If You Don’t — Here’s How to Take Control

    Don’t build until you can answer these three questions

    Every founder wants to build something great. But building too early — or on shaky assumptions — can kill even the best ideas.

    A rough product built on real answers will always beat a polished one built on hope.

    So before you start building or investing heavily in a new product or service, ask yourself:

    • Who wants this right now?
    • Will they pay?
    • Can I reach them profitably?

    Everything else can wait.

    Too many founders start with the product. They get excited, build something, and then scramble to figure out if anyone actually wants it.

    I almost did the same. Technically, I started by generating silly AI images of my boss to make my coworkers laugh. But when I saw the potential of the tools I was playing with — and how accessible they were becoming — I realized I could turn it into something real.

    I didn’t have a background in AI or deep learning. But with open-source tools like Stable Diffusion suddenly available, people like me could build things that felt like magic.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Jeremy Gustine

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  • How to Consistently Exceed Customer Expectations | Entrepreneur

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    We’ve all heard the phrase, “underpromise and overdeliver.” Unfortunately, I often see businesses that tend to “overpromise and underdeliver,” failing to meet customers’ expectations.

    For me, it all comes down to trust. Can I rely on a company to consistently meet and exceed my expectations? As entrepreneurs, this can be a difficult question to confront. However, if you’re unsure how to respond, it may be time to reflect on your practices.

    Consistently exceeding expectations earns appreciation from others. What we truly desire is trust. In a landscape filled with wannabes trying to mimic reputable companies, the most effective strategy to differentiate yourself is not only to meet expectations but also to exceed them and then offer a little bit more.

    Related: If You Are Not Over Delivering for Your Customers, You’re Not Doing Enough

    Establish realistic expectations, then overdeliver

    Unfortunately, today’s consumers can grow accustomed to disappointment. That’s why companies that set realistic expectations are better positioned to achieve a high level of customer satisfaction. Here’s an example:

    While driving to lunch last week, a radio ad for replacement auto windshields caught my attention. Instead of touting how wonderful and fast the installers work or how great the company’s reviews and customer accolades are, the ad used a different strategy; they focused on realistic circumstances.

    “We may not always be perfect. Sometimes our employees punch in the wrong number or have trouble locating your address. At other times, we might underestimate how much time an installation will take. No, we’re not perfect, but you can rest assured that we’ll always do our best, make things right when needed and do everything possible to earn and keep your business.”

    The ad definitely caught my attention because I appreciated the company’s candor and honesty. In a world where most of us try to tune advertisements out, I’ll consider using the company the next time I need my windshield repaired or replaced.

    Why? Because my employees and I at Ditto Transcripts sometimes make mistakes. In the transcription industry, where turnaround time, accuracy and confidentiality are paramount, securing our clients’ trust and confidence remains our top priority. If we fail at any of these objectives, or if our transcripts don’t meet our 99% accuracy guarantee, I’ll do everything possible to correct the situation and satisfy the client as quickly as possible.

    The hidden ROI of overdelivery

    Most businesses strive to acquire new clients or customers, and on average, B2B companies can spend 20-50% of their annual revenue on this effort. Therefore, turning new clients into repeat customers is crucial for any company’s success.

    Given that repeat business is vital to our strategy and profitability, I personally review customer feedback and assess our service levels.

    For example, our Google reviews may include statements such as:

    • “Our transcripts were delivered early and accurately.”

    • “Their transcriptionist caught every word, even with poor audio quality.”

    • “You saved us, especially having such a tight deadline.”

    I genuinely appreciate it when our clients take the time to share positive feedback, as these reviews typically lead to repeat business. Moreover, when potential clients read favorable reviews, they are more likely to consider us for their transcription needs.

    By ensuring our clients are satisfied with our work, we can minimize or eliminate negative reviews. Always remember, taking the necessary steps to enhance customer satisfaction ultimately improves your return on investment (ROI) and bottom line.

    Related: This Is the Real Secret to Exceeding Your Customer’s Expectations

    What overdelivery looks like

    Often, it’s the small gestures that leave a lasting impression. For instance, sending a thank-you email to a new client is usually appreciated. However, a handwritten note can generate an even stronger sense of gratitude. Paying attention to these small details can lead to greater rewards.

    Consider what “overdelivery” looks like for your business. In our industry, it might include:

    1. Delivering transcripts ahead of schedule

    2. Proactively communicating with clients when issues arise

    3. Adding speaker labels or formatting without being prompted

    4. Following up with clients after delivery

    It’s important to note that “overdelivery” does not mean working for free or providing services at a significant loss. Instead, it involves exceeding client expectations through speed, accuracy, and quality. By focusing on successfully handling the small things, you may be surprised at the positive impact on your bottom line.

    Common mistakes that erode trust

    We’ve discussed many common mistakes that can erode trust and lead to revenue loss. However, a few of these mistakes are worth repeating.

    The first mistake is overcommitting while trying to secure new business. Most entrepreneurs have experienced this situation: Just as we’re nearing the finish line and sensing that our prospect is about to commit, a couple of concerns arise. In an effort to close the deal, we may overpromise without a clear plan for how to meet the customer’s expectations. Does that sound familiar?

    Overpromising simply to close a deal often results in underperformance and dissatisfied customers. To avoid this, it’s crucial to set realistic expectations from the start. Make sure to acknowledge the prospect’s concerns and assure them that you’ll develop a strategy to address their needs.

    Additionally, maintain open communication with the client to ensure their needs are consistently met. If, for any reason, you find that you cannot meet their expectations, be honest and communicate this as well.

    By establishing reasonable expectations, you and your team will have a better chance of overcoming challenges and pleasing the client. For example, saying, “Yes, Ms. Smith, I’m confident we can meet your 36-hour turnaround,” and then delivering the transcript sooner can help build trust and encourage repeat business.

    Build a culture of consistent overdelivery

    Now that you understand the importance of underpromising and overdelivering, it’s essential to instill this culture within your team. Leadership begins at the top, so ensure your employees comprehend your commitment to this approach. Focus not only on how this strategy benefits the company’s bottom line, but also on how it positively impacts individual employees.

    Start by evaluating your hiring practices. Are you looking for employees who take pride in delivering exceptional service? Acknowledge those who go “above and beyond.” Building loyalty and trust within your organization often leads to happier employees and satisfied customers.

    Create Standard Operating Procedures (SOPs) to improve quality control and internal communication. Ensure your team is clear about what they can and cannot do when handling customer issues. Proper training can enhance customer satisfaction and foster trust among your employees.

    Recognize consistent performance, not only extraordinary actions. While many appreciate acknowledgement for outstanding customer service, it’s crucial not to overlook those team members who consistently deliver excellent service. These are the employees you want to retain and incentivize.

    Empower your staff to make small decisions. Your sales team or customer service department typically interacts the most with clients and customers. Allow these employees to make minor concessions or resolve simple issues without needing to consult a manager.

    Discuss both positive and negative customer reviews and identify ways to improve in both areas. Owners and managers often focus on negative reviews, especially when they mention specific employees, shifts or departments. While addressing negative feedback is necessary, it’s equally important to recognize those who contributed to positive experiences and discuss how to implement these successful practices throughout your organization.

    Related: Trust Should Be the Foundation of Your Business — Here’s How to Earn It.

    Trust still — and always — matters

    The ability to underpromise and overdeliver is the cornerstone of many successful enterprises. The suggestions and recommendations I’ve outlined are more about common sense than complex strategies. However, every entrepreneur, including myself, needs constant reminders of their importance.

    Every time your organization delivers more than it promised, your trust factor increases significantly. Consistently overdelivering helps build a strong culture of trust, both internally and externally.

    The late Fred Smith, founder of FedEx, established a solid reputation by promising next-day and two-day package delivery. This positive reputation helped him secure a loyal customer base, even when his company’s rates were higher than those of competitors. More importantly, Mr. Smith built trust through consistent performance.

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    Ben Walker

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  • 5 Things I Wish I Knew Before Starting an Ecommerce Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As a 3X founder and veteran book publisher, I’ve brought thousands of authors to market, including several that climbed the New York Times bestseller list. Like most publishers, I always relied on traditional channels to handle sales and distribution, including, of course, Amazon. It always worked for me, but it’s expensive because you lose more than half the retail price to the middleman.

    Frustrated with the business model, I decided to cut both the retailers and wholesalers out by selling directly to consumers through my ecommerce platform. I became both a publisher and an ecommerce seller.

    While I experienced some success, going from zero to more than $1 million in revenue in less than one year, the transition also caught me off guard. I discovered that what looked straightforward from the outside was far more complex in practice. The highly competitive world of online retail is a minefield of logistical and financial challenges that can derail even the most prepared.

    Here are five things I wish I had known before leaping into ecommerce. These factors may determine whether you can build a thriving business or not.

    Related: How to Build, Grow and Make Money With Ecommerce

    1. Your competition is all the other online sellers

    Unlike traditional retail, your ecommerce business doesn’t just compete with the store down the street. You’re competing with sellers worldwide. It turns out there are millions of them. There are an estimated 4.82 million live Shopify stores worldwide — and that’s just one platform, and each is competing for the same dollars.

    This reality requires a fundamental shift in how you think about the products you’re selling. Success in ecommerce isn’t just about having a good product at a good price. It’s about finding unique angles that give you a competitive advantage. Whether that be your brand story or how your shopping cart works, the entrepreneurs who succeed in ecommerce are those who find ways to compete on factors other than product and price.

    2. Customer acquisition costs can make or break your business

    One of the biggest shocks for me was discovering how expensive it can be to acquire customers. I learned the days of “build it and they will come” are long gone. With iOS privacy changes, rising advertising costs and increased competition for consumer attention, many ecommerce businesses spend between $30 and $50 to acquire a single customer.

    Before launching, you need to understand your customer lifetime value (CLV) and how much you can afford to spend on acquisition while remaining profitable. If your average order value is $40 and your profit margin is 30%, you can only spend about $12 acquiring that customer while maintaining profitability, unless you have a strategy for repeat purchases.

    The math is tricky, and your excitement about your top-line revenue can quickly become a nightmare if you’re not careful. So, calculate these numbers early and build your business model around sustainable acquisition costs.

    Related: How to Reduce Customer Acquisition Costs with SEO

    3. Operations and fulfillment are more complex than you think

    Managing inventory, processing orders, handling returns and shipping products efficiently requires systems and processes that I underestimated. What seems simple when you’re selling a few items per week becomes overwhelming when you’re processing hundreds of orders.

    I tried to save money by doing it myself, but soon discovered that the hidden costs were costing me more than they were saving. Fortunately, I decided to hand it off to a fulfillment company before it got too late. Consider using a third-party logistics provider (3PL) or leveraging services like Amazon FBA. Each option has trade-offs in terms of cost and scalability. Remember, while self-fulfillment gives you control, it also costs you in space, time and systems.

    4. Cash flow management will test your business skills

    Ecommerce creates unique cash flow challenges that catch even the best entrepreneurs off guard. You typically need to purchase inventory before you sell it, and payment processing companies often hold funds for new businesses. Add in the costs of advertising, website hosting and fulfillment, and you can quickly find yourself cash-strapped and underwater.

    You can plan for these realities by maintaining adequate working capital and understanding your cash conversion cycle, which is the time between purchasing inventory and collecting cash from sales. If you’re not careful, you can run out of money during growth periods. This can be especially stressful.

    Try to avoid risking too much by oversizing your inventory. It’s tempting because your cost of goods is lower, but the trade-off in terms of your cash position can derail your business. As you grow, you can transition to holding inventory for better margins and faster shipping times.

    Related: How to Properly Manage the Cash Flow of Your Startup

    5. Social media is your lifeline, not just marketing

    In traditional publishing, I could rely on established channels and industry connections to reach readers. In ecommerce, social media isn’t just another marketing channel. It’s everything. Platforms like Instagram, TikTok and Facebook are the primary discovery mechanisms for many consumers, and not just younger demographics anymore.

    I quickly learned that treating social media as an afterthought or delegating it entirely to agencies was a mistake. Social media drives your brand’s awareness and traffic to your online store. It enables direct customer engagement and provides social proof through user-generated content. So you have to own it.

    The key is consistency and authenticity. Customers detect when brands are simply pushing products versus genuinely engaging with their community. Invest time in understanding each platform’s culture and create content that is appropriately relevant. One viral post can save you multiple times what you’d have to spend on equivalent advertising.

    Ecommerce offers tremendous opportunities for entrepreneurs willing to approach it strategically. But it’s not a magic wand. Success requires more than just a good product idea. It demands understanding of digital marketing, operations management, financial planning, and yes, sometimes nerves of steel.

    As a 3X founder and veteran book publisher, I’ve brought thousands of authors to market, including several that climbed the New York Times bestseller list. Like most publishers, I always relied on traditional channels to handle sales and distribution, including, of course, Amazon. It always worked for me, but it’s expensive because you lose more than half the retail price to the middleman.

    Frustrated with the business model, I decided to cut both the retailers and wholesalers out by selling directly to consumers through my ecommerce platform. I became both a publisher and an ecommerce seller.

    While I experienced some success, going from zero to more than $1 million in revenue in less than one year, the transition also caught me off guard. I discovered that what looked straightforward from the outside was far more complex in practice. The highly competitive world of online retail is a minefield of logistical and financial challenges that can derail even the most prepared.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Tom Freiling

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  • His Side Hustle Earns 6 Figures a Year: 1-2 Hours of Work a Day | Entrepreneur

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    This Side Hustle Spotlight Q&A features Dennis Tinerino, 39, of Los Angeles, California. Tinerino worked in online sales when he first learned about domain names and launching websites, which helped him discover domain investing as a side hustle. Here’s how he turned the gig into a lucrative business that brings in six figures a year — with about an hour or two of work per day. Responses have been edited for length and clarity.

    Image Credit: Courtesy of Domain Smoke. Dennis Tinerino.

    When did you start your side hustle, and where did you find the inspiration for it?
    I started my side hustle in 2014 after discovering that domain names are like real estate, only online. Realizing the right ones could keep growing in value was all the inspiration I needed to dive in. My interest first sparked when I was launching a new website and came across a domain name for sale. I had no idea what the cost might be, so I filled out the form on the seller’s website. A domain broker from Afternic replied, explaining that the name was for sale and would require a six-figure minimum offer. Unfortunately, this domain was out of my budget for this project, but thankfully, they were very helpful and explained why it was valued at that price, even suggesting other names that were closer to my budget at the time. That conversation grabbed my attention and pushed me to do a deep dive into the world of domains.

    Related: These 31-Year-Old Best Friends Started a Side Hustle to Solve a Workout Struggle — And It’s On Track to Hit $10 Million Annual Revenue This Year

    What were some of the first steps you took to get your side hustle off the ground? How much money/investment did it take to launch?
    When I started, I did not know anyone personally who was doing this, so I had to teach myself. I dove into blogs, read FAQ sections on marketplaces and learned everything I could about how domains are bought and sold. Like most new investors, my first stop was GoDaddy, where I began registering domains that sounded cool or interesting. Luckily, I kept my spending in check and only bought four domains for a total of $36. One of them, LawyerBoss.com, ended up selling for $700 on Afternic less than two months after I bought it for about $8. That sale was a turning point. It was exciting to see that I could learn the process, list a name and have someone actually buy it for their business. From that moment on, I was hooked and started looking for more ways to find new domains to invest in.

    If you could go back in your business journey and change one process or approach, what would it be, and how do you wish you’d done it differently?
    If I could hop in a time machine, I’d go straight back and immediately sign up for the Domain Academy course on day one. It covers everything about domains, with resources from A to Z, and there’s nothing else like it. I could have skipped months of trial and error, saved a few gray hairs and gotten in the game faster with a deeper understanding of domains and the industry as a whole. There are countless strategies in domain investing, but before you dive in, you need to understand how domains work, what end users are looking for and the different ways to approach them. Trust me, learning this early is a lot cheaper than buying cool names and hoping for the best.

    Related: I Interviewed 5 Entrepreneurs Generating Up to $20 Million in Revenue a Year — And They All Have the Same Regret About Starting Their Business

    When it comes to this specific business, what is something you’ve found particularly challenging and/or surprising that people who get into this type of work should be prepared for, but likely aren’t?
    The hardest part for newcomers is getting the right education. Too many jump in blind, skip the basics and end up spinning their wheels. It’s like trying to fix a car without ever popping the hood. Making uninformed investments is a quick way to waste time, burn cash and get frustrated fast. Another big surprise is how much upkeep a domain portfolio requires. This is not a buy it and forget it business. You have to watch your names, keep up with renewals, follow the market and be honest when it is time to let go of names that are no longer relevant or valuable.

    Can you recall a specific instance when something went very wrong? How did you fix it?
    In my early days, I started doing outbound marketing to create interest and generate sales for my domains. I was not thinking about trademarks at the time and reached out to companies that owned marks similar to my names. That mistake earned me a stack of legal threats and cease and desist letters. Thankfully, I was able to resolve each situation on good terms by finding common ground with the parties involved. It was a valuable lesson to always check for trademarks before investing or reaching out to buyers, and I am glad I learned it early. Avoiding legal battles is high on my priority list.

    How long did it take you to see consistent monthly revenue? How much did the side hustle earn?
    It wasn’t until my second to third year of domain investing that I began to see consistent monthly revenue come in. What I noticed is that after my first year, when I started to educate myself more, build up my domain portfolio with better quality domains and then began outbound marketing, my sales accelerated, and steady monthly revenue came in. In the first year, I earned a few thousand with my first initial sales. In the second year, it was in the lower five figures, and it kept ramping up from there as I invested more time and resources.

    Related: This Couple’s ‘Scrappy’ Side Hustle Sold Out in 1 Weekend — It Hit $1 Million in 3 Years and Now Makes Millions Annually: ‘Lean But Powerful’

    What does growth and revenue look like now?
    Back in 2014, the portfolio was just a handful of domains. Today, it has grown to roughly 8,000 to 10,000 names. There were stretches where I was buying one name a day, and some days I went on a spree and grabbed 20, using profits to keep scaling and building the portfolio. Each year, I have consistently added another 500 to 1,000 names, experimenting with different top-level domains (TLDs) and country code top-level domains (ccTLDs) when I spot a trend. The real growth has come from .com domains, which remain the most in-demand with end users. What started as a few thousand dollars a year has grown into a business generating steady six-figure revenue for the past five years. That growth comes from years of research, relentless market tracking, careful portfolio maintenance and making the right moves at the right time, even when they were tough.

    How much time do you spend working on your business on a daily, weekly or monthly basis?
    On a typical day, I spend one to two hours building and managing my portfolio. Over a week, that adds up to 15 to 20 hours, and by the end of the month, it’s usually 60 to 80 hours.

    How do you structure that time? What does a typical day or week of work look like for you?
    My time is split between portfolio management, searching for fresh inventory, outbound marketing and closing deals. Each week, I set aside blocks of time to review my portfolio, adjust prices and prepare names for marketing. Once you get past a few hundred domains, daily portfolio management becomes essential. It is easy to let small tasks slip through the cracks, and that is when mistakes happen. What has saved me the most time is staying organized. It sounds easier than it is, but creating workflows, keeping detailed spreadsheets and using the right tools will save you from falling behind on your daily tasks.

    Related: These Friends Started a Side Hustle in Their Kitchens. Sales Spiked to $130,000 in 3 Days — Then 7 Figures: ‘Revenue Has Grown Consistently.’

    What do you enjoy most about running this business?
    Domain investing can get a little lonely sometimes because you have to put in the hours to stay sharp and up to date. But the thing I have enjoyed the most is the investor community. We are very active on X, and I have met incredible people from all over the world who have helped me grow as an investor, taught me a ton and become lifelong friends.

    The freedom that comes with this business is unlike anything else. You can run it from anywhere in the world with minimal tech skills. You set the rules, choose your hours, decide your prices, pick where to sell your names and choose which names you want to buy.

    Over the years, as an investor, I found myself looking at tens of thousands of domains coming to auction or expiring every day. As great as many of those names were, I knew I could not buy them all, but I also did not want to see those opportunities go unnoticed by other investors. That got me thinking about how I could share this research and these findings with others. That is when I launched Domain Smoke, a daily newsletter sharing industry news, investment opportunities and the best domains hitting auction each day. Since its launch in 2019, it has grown to thousands of readers worldwide who read it every day.

    Based on your journey so far, what’s your best advice for someone who wants to get started with this kind of business?
    When I got started, there were a few things I would change if I could, and I hope my experience can help you find success in your own journey as a domain investor. If you are new to domain investing, here are three tips that can help you start on the right foot:

    1. Be patient with hand registrations
      This one is not easy, but you will thank me later. Try to hold back from registering new domains by hand until you have a proper understanding of domain investing. The easiest mistake beginners make is buying names that are not likely to sell. Many of them also have little or no appeal to end users. That costs both time and money you will not get back. Once you get past the learning phase, you will have plenty of time to acquire domains that actually fit your strategy. When you know what to invest in, you will be glad you waited.
    2. Invest in yourself early
      They say the more you learn, the more you earn, and that is definitely true with domains. Avoid rookie mistakes by investing in your education. One of the best places to start is the Domain Academy course from GoDaddy, which teaches the ins and outs of the business. Just like any other form of investing, there are many ways to make money, but the best way to improve your chances of success early on is to educate yourself.
    3. Keep learning and follow the data
      It is easy to get started, build up a bit of knowledge and then think you know it all. But markets evolve, trends shift, and change is constant. Stay up to date with domain blogs, industry news, eBooks, Domain Sherpa shows and forums like NamePros, which is full of free knowledge for beginners. Most importantly, follow the data. Study sales and trends using resources like NameBio, dotDB and DNJournal. These will help you understand what is actually selling, what is trending and why. That insight gives you a competitive edge and keeps you aligned with the market.

    Related: I’ve Interviewed Over 100 Entrepreneurs Who Started Businesses Worth $1 Million to $1 Billion or More. Here’s Some of Their Best Advice.

    Start small, stay consistent and give yourself time to learn. Every successful investor was once a beginner. The more you study and track sales data, the sharper your skills will become. And remember, the community side of this business matters too. The investors and connections you build can be just as valuable as the domains you own.

    Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here.

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    Amanda Breen

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  • After Studying 233 Millionaires, I Found 6 Habits That Fast-Track Wealth | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Entrepreneurship is the quickest path to wealth, offering the potential to bypass the slow grind of traditional saving and investing. I am a CPA, Certified Financial Planner and author of Rich Habits: The Routines Millionaires Use Daily That Will Help You Build Wealth.

    Over a five-year period, I studied the daily habits of 233 wealthy individuals, of which 177 were self-made millionaires, and 128 people living in poverty. My Rich Habits research, along with insights from other independent third-party experts/studies corroborating my research, reveals that entrepreneurship accelerates wealth-building when paired with specific habits.

    This article explores why entrepreneurship is the fast track to wealth and how my findings can guide aspiring entrepreneurs to success.

    Related: 10 Habits That Separate Rich and Successful Founders From Wannabe Entrepreneurs

    The entrepreneurial advantage

    My research shows that self-made millionaires who pursued entrepreneurship built wealth faster than those who relied on saving and investing as employees. In my five-year Rich Habits Study, “Saver-Investors” took an average of 32 years to accumulate $3.3 million, while entrepreneurs reached $7.4 million in just 12 years. This gap highlights entrepreneurship’s potential to compress the wealth-building timeline.

    Entrepreneurs can create multiple income streams, scale businesses and directly influence financial outcomes, unlike employees tied to fixed salaries. However, I must emphasize that success depends on adopting certain ‘Rich Habits’ — daily routines that set successful entrepreneurs apart.

    Below are the key habits from my research, tailored for aspiring entrepreneurs.

    1. Set clear, actionable goals

    In my Rich Habits study, 80% of self-made millionaires set specific, long-term goals and focused on them daily. For entrepreneurs, this means defining a clear vision — whether launching a product or hitting revenue targets — and breaking it into daily tasks.

    I found that successful entrepreneurs have a do it now mindset/daily mantra that encourages immediate action to maintain momentum.

    Actionable Tip: Write one major business goal for the next year and break it into monthly and daily tasks. Review progress daily to stay on track.

    Related: The Path to Becoming a Wealthy Entrepreneur Starts With Identifying Scarcity and Saying ‘No’ More Often

    2. Commit to continuous learning

    Successful entrepreneurs are lifelong learners. My Rich Habits study shows that 88% of millionaires dedicate at least 30 minutes daily to self-education, reading books on personal development or industry trends. In contrast, 77% of poor individuals in my study spent over an hour a day either watching TV, streaming, reading books of fiction, social media engagement and other online time-wasters. Knowledge keeps entrepreneurs competitive.

    Actionable Tip: Replace 30 minutes of social media with reading a business book or listening to an industry podcast. or reading industry journals

    3. Live frugally to re-invest

    Financial discipline is critical. Saver-Investor millionaires build their wealth by being frugal with their spending in order to save 20% or more of their net income, which they prudently invest themselves or through financial advisors. Entrepreneurs are different.

    While they do share the frugality habit with Saver-Investors, they don’t save like Saver-Investors. Instead, they live frugally in order to maximize the amount of profits, which they then reinvest back into their businesses — marketing, product development or hiring. In order to be able to live frugally, budget no more than 25% of net income on housing, 15% on food, 10% on entertainment and 5% on vacations.

    Actionable Tip: Automate investing 20% of your company’s profits into a business savings account to help you fund growth or provide a buffer.

    Related: Frugality Among the Wealthy: A Closer Look

    4. Build power relationships

    Networking is a cornerstone of success. In my study, I found that 93% of millionaires with mentors credited them, almost entirely, for their success in life. Mentors offer guidance, share processes that work, teach habits that automate success, teach what works and what does not work and open doors to influencers who are part of their inner circle.

    Wealthy entrepreneurs also invest significant time in cultivating “Power Relationships” with optimistic, success-minded peers and mentor others to strengthen their networks.

    Actionable Tip: Seek a mentor in your industry and ask for specific advice. Mentor someone else to build your network and refine your strategies.

    5. Take calculated risks

    Entrepreneurship involves risk, but successful entrepreneurs do their homework and make informed decisions prior to taking any risk. In my study, 27% of millionaires failed at least once in business but learned from their setbacks. They avoid reckless, speculative moves, relying on research, mentorship and market analysis to seize opportunities others miss.

    Actionable Tip: Before launching a venture, conduct market research and test ideas with a small-scale pilot program in order to minimize risk.

    6. Prioritize positivity and health

    A positive mindset and good physical health sustain entrepreneurial stamina and energy levels. My Rich Habits millionaires practiced “rich thinking,” controlling negative emotions and staying optimistic. Additionally, 76% exercised regularly to maintain energy and focus, enhancing decision-making and resilience.

    Actionable Tip: Spend 30 minutes daily on exercise like walking, yoga, weights or resistance exercises and practice gratitude to maintain positivity.

    Related: How to Build a Healthy, Wealthy and Wise Life

    The power of passion and persistence

    I learned from my Rich Habits research that passion fuels entrepreneurial success. Passion makes work fun. Passion gives you the energy, persistence and focus needed to overcome failures, mistakes and rejection.

    Passionate entrepreneurs endure long hours and challenges, while disciplined habits create a compounding effect. However, even the entrepreneurial fast track requires time — 12 years on average to reach multimillion-dollar wealth.

    Addressing challenges

    Critics of my work argue that systemic factors or demographic biases may influence wealth beyond habits. While barriers exist, my blind study focused on controllable behaviors. Entrepreneurs can’t eliminate external challenges, but can control daily actions, relationships and decisions to navigate them effectively.

    Entrepreneurship offers the fastest path to wealth for those who adopt the Rich Habits my research highlights. By setting goals, prioritizing learning, living frugally, building networks, taking calculated risks and maintaining positivity and health, aspiring entrepreneurs can emulate self-made millionaires. Wealth-building is a two-step process — creating and sustaining it — and entrepreneurship, with disciplined habits, is the engine that drives both steps faster than any other path.

    Start small, stay consistent and entrepreneurship will eventually lead you to financial success.

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    Tom Corley

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  • When’s the Best Time to Sell Your Business? Here’s What I Tell My Clients (And It’s Not When You Think) | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Over the past 10 years, when do you think was the best time to sell a business?

    Believe it or not, it was just after the pandemic. In June 2024, the U.S. Department of the Treasury reported that American business investment had exceeded expectations, outperforming pre-pandemic projections by $430 billion. “The outlook for future business investment growth is encouraging,” the report stated. “Firms are observing persistently high returns to their capital, and founders are starting new businesses at historic rates.”

    Across industries, 2020–2022 outperformed even 2019 in many metrics. Manufacturing, for example, “surged back” in Q3 2020 with record gains in output and hours worked, according to the U.S. Bureau of Labor Statistics.

    The real lesson: It’s not about timing the market

    You don’t sell based on headlines. You sell based on your business, your industry, and your momentum.

    Company valuations have stayed remarkably consistent over the past 25 to 30 years — even during recessions like 2008–2009. Waiting for the “perfect” economic moment to exit is a common mistake that often leads to missed opportunities.

    One of our software clients was nearly ready to sell last year. But their industry began heating up so fast, we advised them to hold off. They now have a 10-year growth runway — and a chance to exit at a significantly higher valuation. On the other hand, we had a client in the print-and-postage business who waited too long. They ignored clear signs of declining demand. By the time they were ready to exit, their window had closed — and so had their leverage.

    The point: There’s no universal “right time” to sell. There’s only the right time for your business, in your industry.

    Related: When Should You Get Your Business Ready to Sell? The Best Time to Start Is Now — Here’s Why.

    Three steps to build value in uncertain markets

    Economic volatility causes many owners to second-guess their exit plan. Should I move faster? Should I take the first good offer?

    In most cases, the answer is no. Instead, refine your original plan with three key adjustments:

    1. Prioritize profitability over revenue

    Buyers don’t pay for top-line growth — they pay for what drops to the bottom line.

    One of our marketing clients was bringing in $5 million in revenue but losing $200,000 annually. After focusing on profitability, they trimmed revenue to $3 million but turned a $220,000 profit. That leaner, more profitable business was ultimately worth more — and attracted better buyers.

    2. Build operational efficiency

    A well-run business is more attractive, more resilient, and easier to sell. Aim for:

    • Fewer people delivering the same output
    • Documented, replicable systems
    • A team that can run the business without you

    Buyers want to see a machine that works — and still has room to grow.

    3. Stay realistic about valuation

    Remember Quibi? The mobile streaming platform launched with $1.75 billion in funding — and folded in six months. Or any Shark Tank episode where founders get laughed out of the room for unrealistic projections.

    Valuation isn’t about hype. It’s about performance, predictability and market reality.

    So when is the right time to sell?

    Here are two signs we see consistently:

    • Growth takes more effort for less return.
    • You start thinking, “I’ve got a couple good years left in me.”

    Those thoughts are signals. Don’t ignore them. They’re often the earliest signs that it’s time to plan your exit.

    The market moves, but your strategy shouldn’t

    Selling a business takes time — sometimes years — especially if you want to maximize value. Public markets fluctuate daily. But private business sales operate on a different timeline and follow different rules.

    The buyers are different. The financing is different. The valuation metrics are different.

    So don’t rush. Don’t panic. And don’t let headlines distract you from your long-term strategy.

    Related: Sell Your Company When You Least Expect It — How to Properly Scale and Sell Your Business

    Final thought: Focus on what you can control

    The best time to sell isn’t about market timing — it’s about business readiness.

    Ignore the noise. Focus on profitability, operational health, and what’s actually happening in your sector. That’s where real value lives — and where the best exits are made.

    Stay strategic. Stay grounded. And don’t sell your business short.

    Over the past 10 years, when do you think was the best time to sell a business?

    Believe it or not, it was just after the pandemic. In June 2024, the U.S. Department of the Treasury reported that American business investment had exceeded expectations, outperforming pre-pandemic projections by $430 billion. “The outlook for future business investment growth is encouraging,” the report stated. “Firms are observing persistently high returns to their capital, and founders are starting new businesses at historic rates.”

    Across industries, 2020–2022 outperformed even 2019 in many metrics. Manufacturing, for example, “surged back” in Q3 2020 with record gains in output and hours worked, according to the U.S. Bureau of Labor Statistics.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Jessica Fialkovich

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