ReportWire

Tag: Entrepreneurs

  • Why Solving Problems for Customers Isn’t Enough Anymore | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Every era of innovation is shaped by the assumptions it inherits — and those it dares to challenge. Today, a profound transformation is underway. It’s not just technological or economic; it is philosophical. We are moving from a world of institutional dependency to one of personal responsibility, and this shift is not abstract — it is architectural. It redefines markets, recasts the role of government, and perhaps most significantly, reshapes the landscape of entrepreneurship.

    At the center of this change is a simple but powerful idea: When people know, they are responsible. The democratization of information, powered by real-time data, AI-driven personalization and platform accessibility, is rewriting the logic of service, value and ownership. The entrepreneurial question is no longer, “What can we do for people?” but, “How can we equip people to do more for themselves?”

    Related: 3 Business Models That Will Shape the Future of Entrepreneurship in 2025 and Beyond

    From intermediaries to enablers

    Entrepreneurs have historically built businesses around solving problems on behalf of others. This often required serving as intermediaries: interpreting complexity, managing risk and navigating institutions. Insurance companies pooled risks that people couldn’t calculate. Financial advisors made sense of markets that most couldn’t access. Schools and training institutions curated learning for people who lacked the means to direct it themselves.

    That model made sense — in a world where information was scarce, and institutions were necessary proxies for knowledge.

    Today, individuals have direct access to tools that allow them to manage health metrics, compare investment options, acquire in-demand skills and even simulate career outcomes. Platforms like wearable health tech, robo-advisors, skill-based microcredentials and AI tutors mean people no longer require a professional class to tell them what is best. They can see it — and often predict it — for themselves.

    The businesses that merely stand between the individual and their decision are now obsolete. The businesses that thrive will be those that build systems of empowerment — platforms that provide clarity, customization and capability.

    The new architecture of value

    In this new environment, value is not in provisioning; it is in enabling autonomy. Entrepreneurs must now ask: How do we help individuals unlock and apply their own potential?

    Consider healthcare. Traditional insurance operates on the premise that people must be protected from risks they can’t predict. But as personalized health data becomes ubiquitous, people can now monitor, manage and reduce their own risk. The value chain shifts from claims management to wellness optimization. The opportunity? Build ventures that help people interpret their health data, make daily behavioral choices and invest in long-term vitality. It’s no longer about coverage — it’s about capability.

    Or look at retirement planning. Where institutions once prescribed investment strategies, today’s individual can model their financial future in real time. Startups are emerging not to sell products, but to build dashboards of decision-making — offering tailored insights, adaptive risk modeling and lifestyle-based financial strategies. It’s not about controlling assets; it’s about translating knowledge into confident action.

    The same transformation is visible in education. Institutions designed to certify are giving way to systems that verify. Competency-based portfolios, credentialing ecosystems and industry-aligned learning platforms are making degrees optional and demonstrable ability the currency of success. Entrepreneurs here aren’t building new schools — they’re building knowledge markets.

    Related: How to Keep Up With Customer Expectations

    Entrepreneurship in the age of awareness

    This is a new age of entrepreneurship, one where success is not about scale alone, but about aligning with the informed individual’s journey. It demands a shift in mindset from ownership to stewardship.

    Startups in this era must reflect three core design principles:

    1. Empowerment over dependency: The most valuable businesses will not do things for people — they will build tools that allow people to do them for themselves. Think: platforms that help users self-diagnose, self-educate or self-direct their economic strategy.

    2. Personalization over prescription: Generic offerings will fade. What succeeds now are systems that adapt: financial plans tuned to personal goals, wellness programs that respond to biometric feedback, education pathways shaped by live career data.

    3. Transparency over authority: The informed individual does not tolerate gatekeeping. Businesses must offer clarity, not control. Whether in pricing, outcomes or decision logic, transparency builds the trust required for responsibility to flourish.

    These principles aren’t trends — they are structural requirements. They arise because the individual now sits at the center of the value chain. And that individual is not passive. They are informed, engaged and increasingly aware that they are the product, the platform and the producer of outcomes.

    The collapse and creation of value chains

    As this shift accelerates, entire industries will be restructured. Wherever value was created by managing people’s ignorance, that value will collapse. Legacy insurance models, credential-based hiring systems and one-size-fits-all service providers are under existential pressure.

    But with every collapse comes creation. As individuals become responsible for their own outcomes, they will seek trusted systems, smart tools and tailored insights. They will invest in products that respect their intelligence, reflect their uniqueness and respond to their goals.

    The next wave of unicorns will not be service providers — they will be agency platforms. They won’t just deliver — they will activate.

    A new kind of entrepreneurial ethic

    This is more than strategy. It’s a new entrepreneurial ethic. It is grounded in a respect for the individual not as a target market, but as a fully capable actor. It sees people not as consumers of systems, but as participants in outcomes.

    Entrepreneurship, then, becomes a civic act. It helps rebuild the social contract — not by promising care, but by equipping individuals to care for themselves and their communities. The goal is no longer centralized service. It is distributed capability.

    Related: How to Use AI to Increase Business and Make Customers Happy

    Build for the informed individual

    The real revolution is not in technology. It’s in structure. Technology simply enables what is now structurally necessary: individual ownership of wellness, finance, education and life itself.

    Entrepreneurs who understand this will stop building for passive users and start building for informed owners. They will not design systems of support; they will design systems of self-determination.

    Because in this new world, when people know, they are responsible. And the businesses that thrive will be those that help them own that responsibility — with clarity, confidence and capability.

    Every era of innovation is shaped by the assumptions it inherits — and those it dares to challenge. Today, a profound transformation is underway. It’s not just technological or economic; it is philosophical. We are moving from a world of institutional dependency to one of personal responsibility, and this shift is not abstract — it is architectural. It redefines markets, recasts the role of government, and perhaps most significantly, reshapes the landscape of entrepreneurship.

    At the center of this change is a simple but powerful idea: When people know, they are responsible. The democratization of information, powered by real-time data, AI-driven personalization and platform accessibility, is rewriting the logic of service, value and ownership. The entrepreneurial question is no longer, “What can we do for people?” but, “How can we equip people to do more for themselves?”

    Related: 3 Business Models That Will Shape the Future of Entrepreneurship in 2025 and Beyond

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Majeed Javdani

    Source link

  • The Top 5 Mistakes Smart Entrepreneurs Keep Making | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    There’s a funny thing about experience: It doesn’t always make you immune to failure. In fact, some of the most seasoned, intelligent founders I’ve met — including myself — have walked straight into the same fire multiple times, thinking this time would be different.

    After buying, building, burning and selling businesses ranging from $1 million to over $20 million in annual recurring revenue, with teams as small as five and as large as 500, I’ve seen these mistakes up close. Not once. Not twice. But over and over. I’ve made them myself. I’ve watched peers make them. And most frustratingly, I’ve watched incredibly smart entrepreneurs make them while fully aware of the warning signs.

    Why does it keep happening?

    Because we convince ourselves that this time is different. We raised more capital. We’re in a new vertical. The economy has shifted. We’ve got better advisors. But these so-called differences rarely change the fundamentals. These mistakes don’t care about your funding round, your pitch deck or the decade you’re building in. They always find a way to show up … unless you deliberately learn to recognize and avoid them.

    Here are the top five mistakes smart entrepreneurs keep making — because intelligence alone isn’t protection.

    Related: 5 Common Entrepreneurial Mistakes There Is No Excuse for Repeating

    1. Outsmarting simplicity

    Smart founders love strategy. We love architecture, systems and layered thinking. But too often, that intelligence leads us to outsmart ourselves by overcomplicating something that should’ve stayed simple.

    In one of my earlier ventures, we created an onboarding system so “intelligent” that it required a five-step identity verification, AI scoring and three user roles. It was technically perfect — and completely unusable. Not a single customer made it through the first interaction without needing help. We had engineered a fortress when all the customer needed was a front door.

    Simple is not a synonym for lazy. Simple is scalable. Simple gets used. If your product, process or pitch can’t be explained in one sentence, you’re not impressing people — you’re confusing them. Don’t make the mistake of confusing complexity with value. Often, it’s the opposite.

    2. Overbuilding before testing

    It feels so good to build. It feels like progress. It’s measurable. It’s exciting. But building without real customer validation is like sailing without checking the tide: You might be moving fast, but you’re heading toward a sandbar.

    I once spent months and hundreds of thousands of dollars building a tool we were sure the market wanted. We built features on top of features, tied in AI recommendations, created dashboards, reports, you name it. But we hadn’t tested the core value with real users. When we finally launched, the silence was deafening.

    We didn’t fail because we couldn’t build. We failed because we didn’t listen.

    Your MVP should hurt a little. It should feel unfinished. Because the moment you build past the point of user feedback, you’re building for yourself — not your customer. Build to learn. Then build to scale.

    3. Ignoring customer feedback that hurts

    Let’s be honest: Some feedback cuts deep. Especially when you’re passionate. When you’ve poured years into a business or a product, hearing that it’s confusing, clunky or not worth the money feels personal.

    At one point, while scaling one of my companies, we were receiving consistent complaints about our service response time. We brushed it off. “Growing pains,” we said. “We’re expanding.” But the complaints kept coming, and we kept rationalizing — until the damage was no longer subtle. Clients started leaving. Our reputation took a hit. And fixing the problem cost ten times what it would’ve if we’d acted earlier.

    Feedback, especially the kind that makes you wince, is gold. Don’t dodge it. Don’t argue with it. Use it. Because every complaint you ignore becomes someone else’s competitive advantage.

    Related: 5 Common Mistakes Leaders Make and How to Fix Them

    4. Misjudging your own burn rate

    This is one of the deadliest mistakes. And ironically, it’s more common among founders who’ve raised capital or had prior exits. You think you’ve got room. You think you’re being strategic by “investing in growth.” And suddenly, your company’s financial discipline goes out the window.

    I’ve run tight operations. I’ve also run operations with fat budgets and too much confidence. The tight ones were stressful, but lean and sharp. The overfunded ones got bloated fast — extra hires, experimental campaigns, unnecessary vendors. All in the name of growth. But here’s the thing: Growth doesn’t matter if you don’t survive long enough to reach it.

    Every dollar should work. If you can’t justify it with near-term utility or long-term leverage, you’re probably burning money you’ll wish you had six months from now.

    Being a smart entrepreneur doesn’t mean ignoring your burn rate; it means obsessing over it. Because financial waste isn’t just inefficient — it’s existential.

    5. Hiring more people to solve the problem

    This one is almost a rite of passage. Things start breaking — operations, marketing, delivery — and the instinct is: “We need more people.”

    Founders tell themselves that scaling the team will fix it. VCs sometimes push for headcount growth as a signal of momentum. But nine times out of ten, it’s the wrong move.

    I’ve scaled teams from five to 200+. I’ve watched entrepreneurs stack up departments like LEGO blocks, trying to fix broken pipelines, unclear roles or systems that never worked in the first place. The result? More meetings, more chaos, more burn. Not more progress.

    Throwing people into a broken system just gives you more breakage.

    What I’ve learned is that most problems can be solved by a few qualified individuals with clarity and autonomy, not by hiring a battalion. Talent density beats volume every time. If your house is on fire, you don’t fix it by moving in more tenants. You put out the fire.

    Related: 10 Stupid Mistakes Smart People Make

    Intelligence isn’t insurance

    It’s easy to assume that once you’ve built or sold a company, you’ve “earned” your wisdom badge. But the real test isn’t whether you’ve experienced these mistakes before — it’s whether you keep making them.

    Experience without reflection is just repetition.

    I’ve built companies with world-class teams. I’ve also watched great ideas burn out because I refused to listen to the basics. These five mistakes show up over and over, usually wrapped in new branding, new market conditions or new funding. But they’re the same patterns, and they still kill momentum.

    So here’s your call to action: Audit yourself.

    Where are you overcomplicating? Where are you building without feedback? Where are you hiring instead of solving? Where are you ignoring warning signs because they’re inconvenient?

    The smartest move you can make isn’t being clever — it’s being clear. Because clarity builds endurance. And endurance is what separates the companies that survive from the ones that almost did.

    There’s a funny thing about experience: It doesn’t always make you immune to failure. In fact, some of the most seasoned, intelligent founders I’ve met — including myself — have walked straight into the same fire multiple times, thinking this time would be different.

    After buying, building, burning and selling businesses ranging from $1 million to over $20 million in annual recurring revenue, with teams as small as five and as large as 500, I’ve seen these mistakes up close. Not once. Not twice. But over and over. I’ve made them myself. I’ve watched peers make them. And most frustratingly, I’ve watched incredibly smart entrepreneurs make them while fully aware of the warning signs.

    Why does it keep happening?

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Roy Dekel

    Source link

  • Why Focusing Only on Profit Is Holding Your Business Back | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    You need focus to build a business, but my experience has taught me that there’s also such a thing as being too single-minded.

    Financial, environmental and community goals aren’t competing objectives; they’re interconnected. This is why founders who chase revenue at the expense of value for their customers or broader social impact often experience limited growth.

    This is a bit like buying a gym membership and then letting your diet go because you’re working out. Just like healthy eating habits are part of an effective fitness plan, your mission and values are essential parts of creating a business plan that works.

    So when my brother Todd and I founded Roof Maxx as a cost-effective alternative to roof replacement, it was about more than filling a gap we saw in the market. It was about solving a problem we saw people struggling with and doing it in a way that also helped those people feel like they were changing the world for the better.

    Here’s what we learned.

    Related: 4 Ways to Engage Your Customers in Social Good — And Why It Matters

    Consumers already want to do the right thing; you just have to help them

    Call me naive, but I take a view of the world that most people are basically good — or at least, they want to be.

    They might not always put the right items in the recycling bin, but that’s not because they hate the planet. They’re usually just confused or short on time, because modern life can be hectic and overwhelming.

    That means appealing to guilt is rarely the most effective way to sell someone on a socially responsible product or service. Guilt can be a powerful emotional trigger, but it only works when someone doesn’t want to do something.

    Todd and I saw this a lot in the early days of Roof Maxx. We knew many homeowners already had some idea of how much waste roof replacement produces, so we didn’t harp on it. No one was throwing away their shingles every few years because they genuinely believed it was good for the planet. They were doing it because the rest of the industry had convinced them there was no viable alternative.

    When people already want to make a change but don’t feel like they have the option, guilt just makes them feel worse. In these cases, you need to show them the option exists, then use other strategies to win their business.

    Related: How to Market to the Increasingly Socially Conscious Customer

    Learn to position “doing good” as “getting more”

    Since most people already want to be better citizens, you don’t need to waste time trying to convince them it’s a good idea. Instead, you should spend most of your pitch showing how easy you can make it for them and how they can benefit from taking action.

    The first few times we pitched Roof Maxx to homeowners, I saw how true this was. They listened when we talked about how they could save 3.8 tons of landfill waste on average by rejuvenating their roofs with our treatment instead of replacing them, but that wasn’t really where we won them over. The vast majority came on board when we showed them our solution cost up to 80% less than a full replacement, and that it could be done in a few hours instead of taking days or weeks.

    Those experiences showed me that we didn’t have to make our customers more willing to do good in the world, because most of them already had that motivation. All we had to do was take away the obstacles they felt were standing in their way.

    Social proof is never about you; it’s about your customers

    One of the things that struck me most about the first homeowners to work with us was how proud they were. That pride didn’t just stem from the time and money they had saved. For a lot of them, it also came from feeling like they had made a difference by reducing their carbon footprint. They felt like they had joined a community that was working to improve the world around them.

    It would have been easy to edit the many testimonials we received and trim them down into concise endorsements of our company. Many brands do. But we didn’t, because we knew those testimonials weren’t just about us. They were about the kinds of people who chose us and the values that those people upheld.

    A customer who touts the quality of your product is a good advocate. But a customer who sees your product as a way to help them live a better life is a great one. The more you showcase those people, the better you look by association.

    Related: Here’s Why Values Matter So Much in Business

    People are more loyal to values than they are to brands

    One last piece of advice: Brand loyalty is a fickle thing, but values tend to exist on a deeper level. People change their cell phone plans far more often than they change their core convictions.

    That means a strong mission helps you build long-term loyalty. If you’re really committed to saving money for people, protecting the environment or community building, then you’ll always be appealing to people who value those goals. And if you can somehow find a way to do all three at once, that loyalty becomes much more difficult to lose to a competitor.

    So while it might be tempting to focus on raw profit when you’re starting out, don’t be fooled. Your mission isn’t there to distract from your margins; it’s there to set your brand apart and attract customers who already want to be on board. From there, it’s just a matter of showing them how easy it is to get involved.

    You need focus to build a business, but my experience has taught me that there’s also such a thing as being too single-minded.

    Financial, environmental and community goals aren’t competing objectives; they’re interconnected. This is why founders who chase revenue at the expense of value for their customers or broader social impact often experience limited growth.

    This is a bit like buying a gym membership and then letting your diet go because you’re working out. Just like healthy eating habits are part of an effective fitness plan, your mission and values are essential parts of creating a business plan that works.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Mike Feazel

    Source link

  • Why More Companies Are Choosing to Stay Private | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The evolution of the private marketplace is one of the most significant developments to shape the capital markets in decades.

    Just consider the statistics. In the late 1990s, there were more than 8,000 publicly listed companies in the United States. By 2008, there were fewer than 5,000. As of 2023, there were approximately 4,317.

    Further, those companies that opt to go public are waiting longer to do so. According to a January 2025 analysis by Morningstar, the median age of companies debuting in the public markets increased from 6.9 years a decade ago to 10.7 years today.

    Related: Go Public or Stay Private? What’s The Right Move For You?

    Why more companies are staying private

    Companies launch initial public offerings to access capital, boost visibility and provide liquidity for investors. Today, though, private equity firms, family offices and other strategic investors offer companies that same opportunity without the need to list.

    Staying private means avoiding quarterly financial reporting requirements, which can become onerous and all-consuming. Operating privately allows owners and key stakeholders to retain more control and influence over the future of a company, prioritizing long-term goals over short-term shareholder and market demands and expectations. Private companies are not subject to the volatility and vacillation that come with being publicly traded, nor do they live by where the stock trades or quarterly results fall.

    However, as the private marketplace becomes a more viable and commonplace option for an increasing number of companies, a significant issue has emerged: the need for greater transparency around and education about share ownership and share structure. Unlike public company stock valuations, which are readily available and accessible to all, there is less clarity around how private company shares are valued and how share classes are structured.

    The importance of transparency and education

    It is important for employees to learn how to build their wealth in a private company. Owning shares in a privately held business is a longer-term play, so understanding how they are valued and when they are distributed is critical to your personal financial plan. In turn, private companies have the responsibility to provide employees and investors with a clear and concise overview of how the equity is organized. Managed well, a private company stock program can be an incredibly effective recruiting and retention tool.

    At Dynasty, for example, we launched an internal education program to ensure that our growing team of colleagues understands how we structure and issue our company shares. It is important to us that everyone feels comfortable asking questions and seeking advice about their holdings.

    For business owners, managing your “cap table” or capitalization table — the document that outlines a company’s equity ownership structure, including all shareholders, their shareholdings, and percentage ownership — is also crucial, especially for startups and growing businesses. Giving out too many shares early on could hinder the future value of your business and its shares.

    Growth is not vertical, so leaving some margin to weather the inevitable ups and downs is ideal. Issuing shares based on an employee’s time at the company and/or performance is also a sound strategy. With a myriad of details to consider, unique to your business, a cap table is a dynamic document that changes as a company grows and undergoes new funding rounds, employee stock option grants and other events.

    Related: 12 Rules Entrepreneurs Must Know About Cap Table Management

    For over 15 years, we have helped launch over 100 new businesses for our network of independent registered investment advisors (RIAs). As an entrepreneur, founder and chief executive officer of a privately held business myself, I understand the challenges inherent in the private market, and as a team, we have learned many lessons along the way, including for our own business.

    We continue to pivot and innovate to meet the needs of our network and ourselves, which starts with stepping up to educate our own employees and clients on effectively navigating share ownership, structure and distribution for long-term success.

    Private stock ownership should not and does not have to be an enigma. Your financial health depends on having the guidance of a financial advisor with both the experience and the specialized expertise to ensure that you understand your options as a private company employee.

    The evolution of the private marketplace is one of the most significant developments to shape the capital markets in decades.

    Just consider the statistics. In the late 1990s, there were more than 8,000 publicly listed companies in the United States. By 2008, there were fewer than 5,000. As of 2023, there were approximately 4,317.

    Further, those companies that opt to go public are waiting longer to do so. According to a January 2025 analysis by Morningstar, the median age of companies debuting in the public markets increased from 6.9 years a decade ago to 10.7 years today.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Shirl Penney

    Source link

  • Your Ads Won’t Matter if Customers Hate the Experience | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    When business leaders consider brand building, they often think of traditional promotion, like print and digital advertising, or maybe a well-placed radio commercial to attract their target audience. They spend massive amounts of ad dollars to build brand awareness. But for most private businesses, brand building isn’t about throwing more money at advertising. It’s about creating an organization that engages, delivers on promise, and perhaps most of all, provides exceptional customer experience.

    According to a recent PwC Future of Customer Experience Survey, 65% of customers say a positive experience with a brand is more influential to them than great advertising. This is not to say there isn’t a place for advertising. But an engaging customer experience can be profoundly more impactful.

    Brands that crushed it with little advertising

    There are notably some massively successful brands that simply don’t advertise. In the B2B sector, have you ever seen an ad for McKinsey Consulting? Or consider Trader Joe’s, a grocery store chain with more than 600 locations and an incredibly loyal customer base. They don’t spend a dime on traditional advertising. Or think back to TGI Fridays in its heyday. Customers flocked to the casual dining hotspots, attracted by charming décor, a crowd-pleasing menu and its signature flair bartending that almost defined the era. While revenue was in the billions, TGI Friday’s focused on experience, not ad dollars, to create loyalty and buzz around the brand.

    Zappos is another excellent example of a brand that was built mostly on customer experience rather than big ad budgets. While the online shoe seller does advertise, the company is most recognized for delivering high-impact customer service.

    Former Zappos CEO, the late Tony Hsieh, was a trailblazer in the customer loyalty space and famously said, “Customer service shouldn’t just be a department, it should be the entire company.” Under Hsieh, Zappos implemented legendary practices like its 365-day return policy, unscripted customer service reps with no call time limits and surprise free overnight shipping upgrades. Imagine expecting the delivery of your new boots in a week, only for them to be waiting on your doorstep the very next day.

    Hsieh also wisely once said, “People may not remember exactly what you did or what you said, but they will always remember how you made them feel.”

    Are you more likely to trust an ad in a magazine or the company that just delivered your package a week early?

    Related: How to Earn Customer Trust and Boost Sales Without Big Ad Budgets

    Misalignment can kill a brand

    What happens when a brand underwhelms, angers or alienates the very customers it intended to serve? Misalignment between brand messaging and customer experience turns once-loyal customers into disillusioned doubters who eventually turn to the competition to better suit their needs.

    Branding misalignment can take many forms. A hotel that advertises luxury accommodations has stained carpets and low water pressure in the shower. A software company that promises seamless integration has customers waiting hours for help desk support.

    A restaurant that advertises itself as a culinary delight serves up wilted salads by moody waiters. A supplier delivers low-grade stainless-steel parts that were promised to be titanium.

    When your marketing and advertising make promises that your operations are unable to satisfy, the business loses credibility, customers and ultimately money.

    The power of word-of-mouth marketing

    Most of us don’t make buying decisions in a vacuum. We search the internet, scour reviews and compare competing goods, services and suppliers. But the most significant green flags for purchasers are recommendations from people we know and respect. According to a 2012 Nielsen Global Trust in Advertising Report, 92% of consumers find more value in recommendations from people they know than any form of advertising. When a brand delivers an experience worth talking about, happy customers become their word-of-mouth marketing and are more persuasive than a two-dimensional ad could ever be.

    When was the last time you recommended a business or brand to a friend or colleague? While your endorsement may have been partly due to price, chances are there was something more to the experience that made the brand worth sharing. Your advocacy wasn’t due to a shiny ad, but rather how your customer experience made you feel respected, cared for and valued.

    Now those are impressions worth sharing.

    Related: Harness the Power of the 5 Senses to Make Your Brand Better

    Happy customers are your most powerful marketers

    By giving your customer a positively memorable experience, you transform that person into a brand ambassador willing to shout their support from the rooftops, and without ever dipping into your advertising budget. Word-of-mouth marketing scales organically when you consistently exceed customer expectations. So, give them something to talk about and see how that brand ambassadorship multiplies by dozens, hundreds or even thousands of raving fans eager to champion your business.

    Keep in mind that negative experiences are just as likely, if not more so, to spread like wildfire and scorch the brand you worked so hard to build. You have surely witnessed devastating brand damage from a single viral video posted to social media by an unhappy patron. Even more reason to ensure your customer experience goes above and beyond. Always.

    When business leaders consider brand building, they often think of traditional promotion, like print and digital advertising, or maybe a well-placed radio commercial to attract their target audience. They spend massive amounts of ad dollars to build brand awareness. But for most private businesses, brand building isn’t about throwing more money at advertising. It’s about creating an organization that engages, delivers on promise, and perhaps most of all, provides exceptional customer experience.

    According to a recent PwC Future of Customer Experience Survey, 65% of customers say a positive experience with a brand is more influential to them than great advertising. This is not to say there isn’t a place for advertising. But an engaging customer experience can be profoundly more impactful.

    Brands that crushed it with little advertising

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Jason Zickerman

    Source link

  • I Risked Everything to Build My Company. Four Years Later, Here’s What I’ve Learned About Building Real, Lasting Success | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    When I first moved to the United States, my goal was simple: survive. I had no connections, little understanding of the system, and a burning desire to build something meaningful. At 33, I shared my journey here — how I used grit, education and a bit of luck to launch a real estate tech startup built on transparency.

    Four years later, I’m still standing — but I’ve changed. So has my definition of success.

    Today, I’m the founder and CEO of a growing real estate tech company based in New York City. But how I run my business — and how I live — looks completely different from when I started. I’ve learned that building something sustainable takes more than hustle. It requires alignment, clarity, and the courage to evolve.

    These are the five lessons I wish I’d known sooner. They now form the foundation of how I lead and advise others.

    Related: I Built a $20 Million Company by Age 22 While Still in College. Here’s How I Did It and What I Learned Along the Way.

    1. Stop chasing the finish line

    Early on, I thought success meant scaling fast, raising capital and staying in the spotlight. But sprinting toward a vague goal is a recipe for burnout.

    Now, I prioritize rhythm over speed. My weeks are structured around deep work, reflection and meaningful conversations. Sustainable growth isn’t linear — it’s iterative. Whether you’re building a business or navigating a career shift, ask yourself: What version of success feels good to live, not just good to post?

    Start your week with a “clarity session.” List your top three priorities — both for your business and your wellbeing. If your calendar doesn’t reflect those, you’re running someone else’s race.

    2. Your business should serve your life — not the other way around

    For a while, my business ran me. Every client issue, notification and small win or loss dictated my emotions. I was reactive, and my personal life paid the price.

    Now, I see my company as a vehicle for the life I want to lead. I’ve built systems that support autonomy, hired people who don’t need micromanaging and created workflows that don’t require 24/7 attention.

    Design your business — or your career — backwards. Start by defining the lifestyle you want, then build your work structure around it. This mindset shift made me a more present human and a better leader.

    3. Real estate is still one of the best paths to wealth — if you play the long game

    My company helps people make honest, informed real estate decisions. I’ve watched many chase trends or try to time the market. But real estate rewards patience and perspective.

    Some of my best investments didn’t look exciting on paper — but they had strong fundamentals. Over time, they became strategic assets, both financially and personally.

    Avoid the hype. Focus on long-term value. Sometimes, doing nothing is the smartest move you can make.

    4. You don’t need to be the loudest person in the room

    In my early years, I believed visibility equaled success. I over-indexed on appearances — networking events, interviews, panels.

    But the most impactful moves in my career came from quiet, focused work behind the scenes. Today, I choose depth over noise. I nurture a few meaningful relationships and let results speak for themselves.

    Build your “trust circle.” Choose five people you admire and invest in those connections. You don’t need a big network. You need a strong one.

    Related: Entrepreneurial Success Comes Down to Having the Right Mindset — Here’s How to Make Sure You Do

    The biggest myth I believed was that success meant arriving. But success is constant movement. It’s reinvention. Pivoting without losing your center.

    I’ve evolved from immigrant to employee, tech lead to CEO, and now founder to educator. I mentor entrepreneurs, speak at universities and write — not just to share what I’ve learned, but to keep growing myself. Each quarter, ask: What version of me am I outgrowing? Let the answer shape your next chapter.

    Looking back, my path hasn’t been straight — and I wouldn’t change a thing. Fulfillment doesn’t come from proving yourself. It comes from building in alignment with who you’re becoming. Whether you’re just starting or starting over, know this: you don’t need to build the biggest company or be the loudest voice to make a lasting impact. You just need to build with intention.

    And most importantly — keep going.

    When I first moved to the United States, my goal was simple: survive. I had no connections, little understanding of the system, and a burning desire to build something meaningful. At 33, I shared my journey here — how I used grit, education and a bit of luck to launch a real estate tech startup built on transparency.

    Four years later, I’m still standing — but I’ve changed. So has my definition of success.

    Today, I’m the founder and CEO of a growing real estate tech company based in New York City. But how I run my business — and how I live — looks completely different from when I started. I’ve learned that building something sustainable takes more than hustle. It requires alignment, clarity, and the courage to evolve.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Rodolfo Delgado

    Source link

  • How to Build a Business That Can Run Without You | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    If your calendar feels like a constant game of catch-up, you’re not alone. Most founders and execs spend their days fielding questions, solving problems, and responding to whatever’s loudest. It feels productive. It looks like leadership. But it’s a trap.

    Reactive mode is where strategic thinking goes to die. In my time as the founder of ButterflyMX, I’ve learned that the longer you operate like this, the more you become a bottleneck, not a builder. Your team stays dependent, your vision stalls, and worst of all, your time stops being your own. This post is about taking it back and becoming the kind of leader your company actually needs.

    Related: Fixing Every Problem Isn’t Your Job — Here’s How to Empower Your Team to Handle Issues Without Your Constant Involvement

    The trap of reactive leadership

    At some point, most leaders realize they’re stuck in a loop: They wake up, dive into a flood of Slack pings and calendar invites and end the day wondering what they actually accomplished. Sound familiar?

    This isn’t just a startup thing; it’s a leadership pattern. Early on, being in the weeds makes sense. You’re hands-on, scrappy and involved in everything. But what starts as necessary involvement often calcifies into chronic reactivity.

    And the consequences pile up:

    • You become the decision-making bottleneck.

    • Your team learns to escalate instead of owning outcomes.

    • And your most valuable asset, your time, gets spent on solving symptoms, not systems.

    There’s also an emotional cost. Constant firefighting feels urgent, even heroic. But in reality, it pulls you away from the one thing only you can do: chart the course ahead.

    Time is a leadership asset, not just a resource

    There’s a quiet truth every seasoned leader eventually learns: Your calendar is a mirror of your priorities and your power.

    When you treat time like a disposable resource, you spend it on whatever shouts the loudest. But when you treat it like an asset, you start investing it in what actually moves the business forward. That’s the difference between managing chaos and building momentum.

    Strategic leadership doesn’t happen in 15-minute gaps between meetings. It requires protected time to think, plan and decide, not in theory, but in practice. That means blocking space for big decisions, pattern recognition and high-leverage conversations, just like you’d block time for a board meeting.

    I’ve seen it firsthand: The leaders who scale aren’t the ones who do more. They’re the ones who do less, better. They get ruthless about what only they can do and design everything else around that filter.

    The job isn’t to be everywhere. It’s to make sure the right things happen, even when you’re not in the room. And that starts by reclaiming your time.

    Related: How to Reclaim Your Time and Start Focusing on Your Business’s Big Picture

    How to reclaim your calendar and reset your role

    This isn’t about downloading a new productivity app. It’s about shifting how you see your time and how you protect it.

    Here’s how to start:

    1. Audit your time like you audit your budget:

    For one week, track where your hours go. You’ll be surprised how much time gets eaten by low-leverage work — things someone else could (or should) handle. Look for patterns: What drains your energy? What creates the most value? This isn’t busywork. It’s clarity.

    2. Build “focus blocks” like your future depends on them, because it does:

    Pick 2-3 hours a day (or even just a few slots a week) that are meeting-free and distraction-free. Use them to think strategically, review your org design, write out your vision or tackle the decisions only you can make. Treat these blocks like sacred ground.

    3. Delegate outcomes, not tasks:

    Too often, leaders delegate execution but hold onto ownership. Flip it. Give your team the “what” and the “why” and let them own the “how.” You’ll build trust, create more capacity and stop being the final answer to every question.

    4. Install leverage, not just help:

    If you’re drowning in scheduling, follow-ups or inbox triage, hire an executive assistant or Chief of Staff. But don’t stop at admin support. Empower them to shield your time, prioritize inputs and run point on internal processes so that you can stay focused on the big picture.

    But what about the fires?

    Let’s be real, urgent problems aren’t going away. Markets shift. People quit. Customers escalate. Even the best-run teams hit turbulence.

    The goal isn’t to eliminate all fires. The goal is to stop being the only one holding the hose. Reactivity isn’t always bad; it’s just dangerous when it becomes your default. As a leader, you’ll still need to step in sometimes. But if every problem reaches your desk, that’s a system failure, not a leadership virtue.

    This is where systems and culture matter. Build escalation paths. Set clear decision rights. Empower teams to solve at the level where problems occur. That’s how you create a company that doesn’t crumble every time you take a day off. Reclaiming your time means building the structure to handle itself without you.

    Related: Dear Business Owners: It’s Time to Work on Your Business, Not in It

    You can’t build the future while stuck reacting to the present.

    The shift from reactive to strategic leadership isn’t just about time management; it’s about identity. It’s choosing to lead with intention instead of interruption. To focus on systems, not symptoms. And to spend your time where it creates the most value, not the most noise.

    So, here’s the challenge: Look at your calendar this week. Is it a reflection of the leader you are, or the leader you want to be?

    Take back your time. Your team, and your vision, are counting on it.

    [ad_2]

    Cyrus Claffey

    Source link

  • Watch Out for These Dangerous Business Habits That Masquerade as Strategy | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    We love a good story, especially when it keeps us comfortable. In business, these stories often become rationalized myths. They sound like logic, feel like experience, and masquerade as truth. But really, they’re just assumptions wrapped in a confident tone.

    You’ve heard them:

    • “Customers only care about price.”
    • “No one wants to pay for service anymore.”
    • “Our market is too commoditized to differentiate.”
    • “People just don’t read emails these days.”

    What makes these myths dangerous isn’t their persistence, it’s how we rationalize them. We tell ourselves they’re based on data. (A survey from 2018? Please.) We cite competitor behavior. We assume it’s “just the way things are.” And then we design strategies, products and entire business models around them.

    But these myths are born from perceptions. Not facts. Not insights. Just patterns we’ve gotten used to seeing and explaining away.

    Let’s start with one of the classics: “Customers just want the lowest price.”

    A B2B manufacturing client clung to this like a security blanket. Every RFP became a downward spiral of discounting. When asked how they knew price was the only factor, they pointed to lost bids. But after diving into post-mortems with prospects, the real reasons surfaced: unclear value, slow response times and rigid contract terms.

    The issue wasn’t price. It was perceived value. Prospects didn’t see what made this manufacturer better because nothing was communicated that truly differentiated them. They’d accepted the myth and acted accordingly.

    When they shifted their focus to flexibility, transparency and proactive support, those things customers wanted but weren’t getting, suddenly they weren’t the cheapest option. They were the smartest.

    Related: 10 Popular Myths About Leadership and How to Overcome Them

    Perception is reality, but not always truth

    Humans are perception machines. We don’t just see the world, we interpret it. In business, we build narratives around what we think customers want, based on our internal views. But customers don’t live inside your boardroom, your org chart or your sales targets.

    Frustrations, unmet needs and past experiences shape their reality. Which means you can shape perception if you’re willing to dig deeper.

    Differentiation isn’t about being louder. It’s about being clearer on what matters. Most businesses try to stand out by tweaking what they already offer, rather than tapping into what customers crave but aren’t getting. That gap is where perception shifts and myths start to crumble.

    A logistics company once told me, “We’re basically a commodity. Everyone moves boxes.” They’d convinced themselves that brand didn’t matter, experience didn’t matter, innovation didn’t matter. So, they optimized for efficiency and disappeared into the noise.

    When we interviewed their customers, something fascinating emerged. Clients were desperate for visibility. Real-time updates, proactive communication and simplified invoicing. None of the competitors was doing well.

    They leaned into this. Invested in client portals. Added human touchpoints. Their messaging shifted from “we move stuff” to “we make sure you know where everything is.” Perception changed. They weren’t a commodity anymore.

    Breaking the myth cycle

    Rationalized myths persist because we’re listening for confirmation, not contradiction. We validate what we already believe and ignore what feels inconvenient. But strategy isn’t about being right. It’s about being relevant.

    To break the myth cycle:

    1. Listen for gaps, not praise. Ask customers what frustrates them, not just with your company, but with the entire category.
    2. Challenge internal dogma. Just because it’s always been done that way doesn’t mean it still works or ever did.
    3. Reframe differentiation. It’s not about being “better.” It’s about offering what no one else is offering in the way your customer truly needs.

    Myths are comfortable because they make the world feel predictable. But they’re dangerous because they keep you from evolving. The truth is you can’t build meaningful differentiation on faulty perceptions. But if you’re willing to challenge those myths and the stories you tell yourself, you can find the whitespace your competitors don’t even see.

    Customers don’t always want more. They often want something different. And different is where real value and growth live.

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

    Myths don’t linger, they multiply

    The problem is myths don’t just linger, they multiply. One assumption quietly supports another until you’ve built an entire strategic house of cards. You stop testing, stop questioning, and start filtering every new idea through the same warped lens. And the real danger is the longer a myth goes unchallenged, the truer it feels.

    I’ve seen companies spend millions chasing an edge that didn’t exist, simply because they never bothered to ask customers what they valued. Not in a survey buried in the quarterly report. Not through a sales team’s best guesses. But directly, candidly, without the bias of defending past decisions.

    Because that’s the trap. When your brand, processes and pricing are built on untested beliefs, you’re not strategizing, you’re gambling.

    We love a good story, especially when it keeps us comfortable. In business, these stories often become rationalized myths. They sound like logic, feel like experience, and masquerade as truth. But really, they’re just assumptions wrapped in a confident tone.

    You’ve heard them:

    • “Customers only care about price.”
    • “No one wants to pay for service anymore.”
    • “Our market is too commoditized to differentiate.”
    • “People just don’t read emails these days.”

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Andrea Olson

    Source link

  • Closing a Deal? Don’t Skip These Safeguards. | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In any fast-paced sales environment, closing a deal is often seen as the final hurdle. But just before that contract is signed, subtle missteps can create major risks, particularly when client-requested changes go unchecked or processes aren’t followed closely.

    While these issues often appear within the sales cycle, the potential consequences span across legal, compliance, operations and finance.

    Related: Your Contracts Could Be Limiting Your Revenue Potential and Increasing Risk in Your Business. Here’s How to Take Control.

    When standard processes meet last-minute changes

    For many organizations, platforms like Salesforce have helped bring structure and consistency to deal-making. From initial outreach to signed agreement, the path is streamlined and standardized — especially in industries where contracts are carefully templated and rarely deviated from.

    But even the most carefully designed workflows can become vulnerable at the finish line.

    A common scenario: A client returns a contract with their edits incorporated, rather than marked. Buried deep in the document, a key clause has been deleted. It may seem minor. It may go unnoticed. But that single, unvetted change can alter legal responsibilities, shift liabilities or remove important protections. One word changed or omitted can carry long-term consequences.

    These kinds of last-minute revisions, particularly when delivered in a seemingly complete, clean format, present a serious risk. The issue isn’t malice; it’s momentum. At this stage, the client is often ready to get the deal done.

    That’s why the most important defense against risk isn’t about slowing down the sales team; it’s about reinforcing the systems and habits that allow them to move quickly without sacrificing accuracy.

    The power of proactive training

    Mitigating these risks starts with consistent, practical training that goes beyond product knowledge. Teams need regular reminders of where and how deals can go off track. At Associa, the world’s largest homeowners association management company, we have quarterly regional calls for our sales leaders and legal department, which are essential to create a space not only to share updates, but to talk through real-world challenges. These sessions often surface emerging trends, like new types of redlines or recurring client requests that require broader alignment.

    Our annual leadership summit adds another powerful layer of connection and alignment. Over the course of nearly a week, leaders from more than 300 branch offices and sales leaders come together in person for immersive training, open Q&A sessions and collaborative problem solving. It’s an opportunity to cover not just what’s changing, but why certain policies and processes matter. Accessibility during these events is key — salespeople need direct access to legal, finance and operations leaders who can clarify expectations and help prevent common errors.

    Related: 6 Mistakes to Avoid When Creating Client Contracts

    Standardization is your safety net

    Beyond training, standardized deal checklists are a critical tool for catching oversights. Whether responding to an RFP, hiring a vendor or onboarding a client, these checklists prompt teams to confirm legal review, double-check key sections of a contract and ensure no critical terms have been deleted or altered.

    These aren’t just administrative tools; they’re guardrails. When the pressure is on to finalize a deal, checklists force a pause for essential verifications. Did the client send back a PDF instead of a redlined Word document? Has anyone reviewed the terms that were modified? Has legal approved the final version? These questions matter — and the checklist ensures they’re answered before the deal closes.

    Standardization also removes ambiguity. When everyone uses the same process, it’s easier to spot when something is off. That consistency protects the business while enabling the sales team to move confidently.

    Cross-functional collaboration is key

    It’s also important to remember that protecting the business isn’t the job of any single team. While these risks may emerge during the final stages of a deal, they require coordinated vigilance from legal, compliance, operations and leadership alike. Sales teams shouldn’t be expected to be the final gatekeepers of every nuanced legal clause, but they should know when to flag something and who to bring in when they do.

    The most resilient organizations cultivate this kind of shared accountability. They break down silos, making it easy for team members to get answers quickly and escalate when needed. Whether through workflow automation or simple communication channels, the goal is the same: to make it easier to do the right thing than to make a mistake.

    Related: 6 Ways to Save Your Shirt

    Audit before you act

    Finally, before any changes are made to existing systems or processes, it’s essential to audit what you already have. It’s a simple principle, but one that’s often missed in the rush to improve or adjust.

    A thorough audit helps reveal weak points, whether it’s outdated templates, unclear handoff protocols, inconsistent training or information communication. In one instance, a contract signed casually over dinner — meant in good faith — lacked basic protections like defined services or pricing terms, which later led to avoidable complications. Without this step, well-intentioned updates can accidentally introduce new risks. But with it, your team can evolve your processes with confidence, building on a solid foundation rather than layering fixes on top of blind spots.

    Closing a deal is the culmination of hard work, strategy and relationship-building. But it’s also one of the most delicate moments in the business lifecycle. Without the right safeguards in place, it’s all too easy for a last-minute change to slip through unnoticed.

    By investing in recurring training, implementing standardized checklists, fostering collaboration across departments and auditing your processes before making changes, you can significantly reduce vulnerabilities and empower your teams to move quickly, confidently and in alignment with your long-term goals.

    [ad_2]

    Jeff Carona

    Source link

  • How a Software Engineer’s Business Impacts Education | Entrepreneur

    [ad_1]

    As Brandon Bailey, founder and CEO of TutorD, built his career in software engineering, he came face-to-face with the “lack of diversity and inclusion” in tech — and he wanted to do something about it.

    Image Credit: Courtesy of TutorD. Brandon Bailey.

    Bailey worked at a consultancy in Chicago at the time, and as co-lead for one of the firm’s employee resource groups, he partnered with a couple of community-based organizations. One partnership was with a middle school in Bronzeville.

    The school was located about 15 minutes from Bailey’s home, but the students “had a totally different lived experience,” the founder recalls. Many of the kids had never been on an escalator or inside a skyscraper despite living just minutes from downtown.

    Related: Technology Opens the Door for Entrepreneurs to Achieve the Triple Bottom Line

    The program helped the students have those experiences and access internships and other opportunities. “That gave me this drive and passion for the educational experience and helping facilitate it,” Bailey says. “It changed my life. I know it changed [their lives].”

    But Bailey wanted to figure out how to reach even more people. He landed a job at an edtech startup in Los Angeles, California, and began to think about how he could bring together education, engineering and entrepreneurship.

    When considering the platform or tool that could accomplish that, Bailey noted one significant obstacle: There was an issue of connectivity for students who didn’t have access to computers in their homes. However, most students did have cellphones, so Bailey decided to meet the students where they were and build for those.

    Related: How DEI and Sustainability Can Grow Your Triple Bottom Line

    “We wanted to lead with providing value to the community first and gaining trust and buy-in.”

    Bailey officially founded TutorD, an edtech platform for teachers and tutors to enable distance learning, and TutorD Scholars, a nonprofit that teaches “urban youth in-demand 22nd century skills,” in 2019.

    “We wanted to lead with providing value to the community first and gaining trust and buy-in into what we were doing,” Bailey says. “So that’s why we led with the nonprofit TutorD Scholars first, while building out the software platform.”

    Teaching made it easier to figure out the specific tools students would need on the platform and how to tailor lessons to their unique learning styles.

    Related: This Black Founder Stayed True to His Triple ‘Win’ Strategy to Build a $1 Billion Business

     ”We’re teaching [the students] in different ways,” Bailey says, “so using visual, auditory, reading and kinesthetic. [It’s] a very intentional approach.”

    Entrepreneur sat down with Bailey to learn more about how he’s grown TutorD into a successful business — and the role that Intuit’s IDEAS accelerator program has played.

    Intuit’s IDEAS accelerator program provides founders access to capital and the company’s AI-powered platform, service and experts, plus business coaching from the National Urban League and executive coaching from Zella Life to support their business and professional growth.

    Related: Over Half of Small Businesses Are Struggling to Grow, Intuit Survey Shows — But These 5 Solutions Can Help

    Learning the accounting fundamentals was a game changer

    Through the IDEAS program, Bailey got valuable exposure to the basic accounting fundamentals, like cash flow and profit and loss statements, that make or break a business.

    “That wasn’t something I had a lot of support with growing up, looking back at it,” Bailey says. “In our household, [and] it is common across Black and brown households, we didn’t have that training around finances.”

    Receiving that technical training helped Bailey and the TutorD team develop a clearer sense of where the business was headed and how its costs and sales projections would shape that trajectory, the founder notes.

    Related: Why Accounting Skills Are Indispensable for Entrepreneurs

    Streamlining the business’s messaging was also key

    TutorD used Intuit’s MailChimp, an email and marketing automation platform for growing businesses, to streamline its communications.

    Not only did the platform make it easier for people to get in touch with TutorD, but it also helped cultivate a sense of presence — making the business seem bigger than it was, Bailey says.

     ”We’re a team of five right now, and we’re dealing with other companies that are 200, 500 people strong,” Bailey explains. “And they have $20 million backed by different investors. [MailChimp] helped us appear bigger than we are to compete in the market and with other edtech companies.”

    Related: How to Streamline Your Company’s Internal Messaging and Communication

    Leaning on mentors helped during tough times

    The business coach that Bailey connected with through Zella Life also became an integral part of TutorD’s journey.

    Having a support system in place was invaluable as Bailey juggled the challenges of growing a business with major life events, he says.

    “My father passed away, and my baby came, and I had an injury, all in a three-month span,” Bailey says. “My coach had also lost his mother around that time, so we [had a] really deep connection, and he was able to help.”

    Related: How to Evolve From Manager to Mentor and Create a Lasting Impact in Your Organization

    Bailey says that the IDEAS program put TutorD in the position to scale — and gave him and his team the confidence to talk to people about their journey.

    Advice for young entrepreneurs

    Bailey encourages other young, aspiring entrepreneurs to never stop learning, seek out opportunities where there’s a need and ability to create value, connect with other founders who can serve as mentors, and leverage the community to help lay the foundation for business success.

    He’s also excited to see people embracing the “triple bottom line,” which tracks a business’s financial, social and environmental performance — and suggests anyone considering the leap to founder do the same.

    “ People are waking up to [the fact that] it’s not just about making money and some infinitely growing, making-money approach to entrepreneurship and capitalism in general, but really looking at it with a triple bottom line approach, generating sustainable profit or revenue for yourself, your family, business and shareholders, but also making an impact in the community,” Bailey says.

    Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.

    [ad_2]

    Amanda Breen

    Source link

  • Why Every Entrepreneur Needs an Exit Mindset from Day One | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    After three decades in capital markets and entrepreneurial ventures, I’ve learned one hard truth: Most founders wait too long to think about their exit. They’re focused on growing the business, product-market fit, hiring the right people or raising their next round, and understandably so. But here’s the reality: The companies that scale, endure and lead are the ones built with the end in mind.

    Having an exit mindset doesn’t mean you’re planning to abandon ship. It means you’re architecting your business with intention and strategic foresight. Whether your future includes an IPO, a SPAC merger, a venture-backed acquisition or simply attracting long-term capital, an exit mindset forces clarity. It requires discipline. And it ensures you’re building not just for now but for what comes next.

    Related: Starting a Business? You Should Already Be Thinking About Your Exit Strategy. Here’s Why.

    I learned this the hard way

    During the Great Recession, I lost everything. Years of work and millions in value disappeared seemingly overnight. That moment was both devastating and instructive. I realized that while I had been focused on growth and momentum, I hadn’t built with durability in mind. I hadn’t built to exit; I’d built to run.

    Coming back from that loss forced me to rebuild from the ground up and reimagine what success really meant. I leaned into the volatility instead of resisting it, and over time, that shift led me to support other founders navigating the capital markets, helping them structure for growth and prepare for their own exits.

    I noticed a pattern: The most successful entrepreneurs weren’t necessarily the smartest or the most well-funded. They were the ones who led with clarity, who built their businesses with the intention to exit, whether that meant selling, stepping back or scaling beyond themselves.

    Exit is a mindset, not a milestone

    Going public or selling your company shouldn’t be a last-minute decision. It can (and should) take years, as a natural progression of a business built on solid fundamentals. That starts with a clear answer to one question: What are you building toward?

    If your answer is vague or reactive, it’s time to revisit your strategy.

    An exit mindset helps you:

    • Build toward investor-grade readiness: This includes predictable revenue, clean cap tables, strong corporate governance and a scalable operating model.

    • Attract the right capital partners: Investors can sense when a business has long-term value versus short-term hustle.

    • Avoid short-term traps: When you’re playing the long game, you’re less likely to overpromise, overhire or overextend.

    Related: 4 Go-To Moves to Help Start Your Exit Strategy Now

    Think like a public company (even if you’re not one yet)

    Entrepreneurs often underestimate the rigor and transparency required to go public or raise institutional capital and often think of an IPO or acquisition as a finish line. But it’s not a finish line, it’s a new starting gate. And the market doesn’t hand out second chances.

    If you want public markets, investors or strategic acquirers to take you seriously, you need to demonstrate:

    • Financial maturity: Are your books audit-ready? Do you understand your KPI and unit economics? Can you forecast with precision?

    • Strategic clarity: Do you have a clearly articulated long-term vision? Can you tell a compelling growth story?

    • Operational resilience: Have you built processes that scale? Do you have a team that can lead beyond you?

    I tell the entrepreneurs I work with that the stock doesn’t trade itself. A great business is not the same as a great public company. The companies that perform post-IPO are the ones that prepared for the scrutiny long before the bell rang.

    Lessons from the frontlines

    Over the past few years, I’ve seen how volatile and unforgiving the IPO and public markets can be. In 2021, deal flow was booming. In 2022 and 2023, it all but froze. Yet in that same period, a handful of companies thrived. Why? Because they had built with optionality in mind.

    Take CAVA Group, for instance. In a tough IPO market, they went public in 2023 and saw their stock jump 37% on the first day. That didn’t happen by accident. It was the result of strategic decisions made years earlier: disciplined growth, strong financial performance, well-crafted storytelling, focused leadership and the ability to meet investor expectations.

    Don’t just raise capital. Rehearse the exit.

    Too many founders treat fundraising like a finish line. But capital is a tool, not a strategy. If you raise money without a clear exit roadmap, you risk dilution, misalignment, or worse, getting stuck in the middle.

    Instead, start with the exit in mind. Ask yourself:

    • What would a strategic acquirer find most valuable about my business?

    • If I were to list tomorrow, are my systems, controls and structures ready?

    • Do I have the right team and board to guide me through a real transition?

    The earlier you ask these questions, the more optionality you create. And in this volatile market, optionality isn’t a nice-to-have. It is your edge.

    Related: How to Expertly Position Your Business for an Exit

    Build to exit, lead to endure

    The paradox is real: The strongest exits come from businesses that aren’t built just to exit. They’re built to endure. They have resilient models, committed teams and founders who lead with transparency and purpose.

    An exit mindset doesn’t mean you’re pulling back. It means you’re more strategic and leading with vision. It doesn’t mean you’re ready to walk away; it means you’re building something that can outlast you.

    So, whether you’re on your first round or your fifth, ask yourself: If I had to exit tomorrow, would I be ready?

    If the answer is no, you’re not alone. The time to start building with that end in mind is now.

    After three decades in capital markets and entrepreneurial ventures, I’ve learned one hard truth: Most founders wait too long to think about their exit. They’re focused on growing the business, product-market fit, hiring the right people or raising their next round, and understandably so. But here’s the reality: The companies that scale, endure and lead are the ones built with the end in mind.

    Having an exit mindset doesn’t mean you’re planning to abandon ship. It means you’re architecting your business with intention and strategic foresight. Whether your future includes an IPO, a SPAC merger, a venture-backed acquisition or simply attracting long-term capital, an exit mindset forces clarity. It requires discipline. And it ensures you’re building not just for now but for what comes next.

    Related: Starting a Business? You Should Already Be Thinking About Your Exit Strategy. Here’s Why.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Peter Goldstein

    Source link

  • This Trillion-Dollar Industry Is Where You Need to Look For Your Next Investment — Here’s Why | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Here’s the uncomfortable truth: Most founders are still chasing yesterday’s markets. They’re building tools for productivity, or consumer apps that feel safe and familiar. Meanwhile, a new generation of companies is tackling the most universal customer need on earth — more years of energy, clarity and performance.

    This isn’t wellness 2.0. This is the redefinition of healthcare, insurance, consumer products and even food. By 2030, the longevity economy will be worth an estimated $27 trillion globally. For business leaders, this represents a once-in-a-generation category: It touches everyone, enables recurring revenues and rewards those who build early.

    The real question is simple: Will you profit from it — or watch from the sidelines?

    Related: Why Personal Health and Wellness Are Key to Business Longevity

    Why longevity is the next Gold Rush

    For decades, healthcare has focused on treating disease. Wellness became a $5 trillion global industry filled with supplements, wearables and green juices. But now, the shift is toward healthspan — the years we spend in peak physical and mental condition.

    The customer demand is obvious:

    • Aging populations: By 2034, the U.S. will have more people over 65 than 18. Globally, one in six people will be over 60 by 2030. That’s not just demographics — that’s a new consumer majority.
    • Rising costs: Chronic diseases and mental health conditions already account for 90% of U.S. healthcare spending. Businesses and insurers are desperate for solutions that prevent rather than patch.
    • Spending power: The 50+ population already controls more than half of global consumer spending, yet most innovation still chases Gen Z. That’s a blind spot waiting to be exploited.
    • Cultural momentum: From CEOs like Bryan Johnson spending millions on “biological age reversal” to mainstream adoption of WHOOP and Oura, longevity has gone from fringe to aspirational.

    Here’s the point: Longevity is no longer about lab coats and science journals. It’s becoming a consumer status symbol, a corporate necessity and a national policy issue all at once. That convergence creates rocket fuel for entrepreneurs bold enough to enter.

    Who’s leading the charge

    Look at where the smartest money is already flowing:

    • Altos Labs, backed by Jeff Bezos, is pursuing cellular reprogramming to reverse ageing itself.
    • Thorne HealthTech is scaling biological age testing and personalized supplementation.
    • Deep-tech startups are building senolytics (compounds that clear damaged cells), NAD+ boosters and precision nutrition platforms.
    • Consumer brands are reframing skincare, fitness and even food around “cellular longevity.”

    And it’s not just startups. Apple and Amazon are both quietly moving into health monitoring and prevention — because they know the next trillion-dollar market won’t be social feeds, it will be life itself.

    These aren’t small plays. In 2024, longevity startups attracted $8.5 billion in funding — a 220% year-over-year increase. And yet, compared to fintech or AI, this category is still underfunded. That means the window is wide open.

    Related: How Entrepreneurs Can Achieve Longevity

    Where entrepreneurs can enter

    You don’t need to be a biotech scientist to build here. In fact, some of the biggest near-term opportunities are business-model plays, not lab breakthroughs:

    • Data + AI platforms: Democratize access to advanced diagnostics, biomarket testing or personalized health programs. Think of it as “Mint.com for your biology.”
    • Longevity as a service: Subscription models for supplements, recovery protocols or wearables that create sticky, recurring revenue.
    • Talent and corporate healthspan: Companies will pay for healthier, sharper employees. Expect corporate packages for executive resilience, employee energy optimisation and “longevity perks.”
    • Consumer rebrands: Skincare, nutrition and fitness companies are already pivoting around the language of healthspan to differentiate. I’ve already invested in this space myself: Under my brand Rejna, I’m launching a skincare collection called Rejuvenate, built around the concept of “skinspan” — positioning skin health as a core pillar of longevity, not just cosmetics. It’s a live example of how consumer brands can reframe their value proposition to align with the longevity revolution.
    • Longevity communities: Hybrid digital + physical hubs offering programs, recovery lounges and memberships designed for the new aspirational class: the longevity customer.

    Translation for business leaders: You don’t need a lab. You need vision, distribution and the courage to build for where the market is going, not where it’s been.

    How business leaders can act now

    1. Educate yourself and your team. Follow longevity leaders (David Sinclair, Peter Diamandis and Laura Deming to name a few). Subscribe to longevity reports. Send your team to a longevity summit.
    2. Identity synergies with your business. Whether you’re in food, beauty, insurance, HR or data, there’s a longevity angle. If you’re not thinking about it, your competitors will.
    3. Start small, scale fast. Launch a pilot offering: corporate wellness with a longevity spin, a subscription recovery service or a data product built on wearable integration. Test, learn and scale.
    4. Position for partnerships. Big pharma, insurers and consumer brands will need agile partners. If you’re early, you’ll be the acquisition target, not the disrupted.
    5. Signal the story. Investors and employees back vision. Frame your longevity play as part of a bigger comeback or market-defining narrative. The story matters as much as the science.

    Related: Why Top Entrepreneurs Are Swapping Beach Vacations for Longevity Retreats

    The bigger picture

    Longevity isn’t about living forever. It’s about compressing the years of illness, fatigue and decline — and extending the years of vitality, clarity and purpose.

    The smartest entrepreneurs understand this isn’t just science, it’s strategy. It’s the chance to build the companies that will define the next decade of human health — and make fortunes doing it.

    The next trillion-dollar industry won’t just help us live longer. It will help us live better. The only question is: Are you building for it now, or waiting until it’s too late?

    Here’s the uncomfortable truth: Most founders are still chasing yesterday’s markets. They’re building tools for productivity, or consumer apps that feel safe and familiar. Meanwhile, a new generation of companies is tackling the most universal customer need on earth — more years of energy, clarity and performance.

    This isn’t wellness 2.0. This is the redefinition of healthcare, insurance, consumer products and even food. By 2030, the longevity economy will be worth an estimated $27 trillion globally. For business leaders, this represents a once-in-a-generation category: It touches everyone, enables recurring revenues and rewards those who build early.

    The real question is simple: Will you profit from it — or watch from the sidelines?

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Rejna Alaaldin

    Source link

  • Workers Over 40 Are Turning to Side Hustles — Here’s Why | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    It seems that every day, there is another story about a young person who started a side hustle and hit it big. In 2024, over one-third of Americans had a side hustle to supplement their income. Side hustles are particularly appealing to Gen Z, with about half of them reporting having one. Millennials are a little less active, with about one-third of them stepping up to get that extra income that a hustle provides. Are side hustles just for those in the early stages of their career? Is there a huge opportunity for baby boomers as well?

    Several years ago, I wrote an article and shared how I turned my “side hustle,” which at the time we called freelancing, into a business. At the time, I shared that turning a side hustle into a business does not always work. However, if you can go the distance, build a team and get the cash you need to launch and sustain the business you, like me, can have a great run. In 2027, Cynthia Kay and Co. will be 40 years old.

    There are some dramatic differences between a side hustle and a mature business. To begin, a side hustle is generally a part-time endeavor to make some additional money and does not require a lot of investment. A business is more structured and complex. Believe me, it takes a significant amount of time, attention and cash to be successful in the long haul.

    Most of the time, the side hustle stories are about an endeavor that grows and becomes a viable business. I would like to propose something to entrepreneurs who are at a different stage in their careers, where the runway in front of them is shorter than behind them.

    There comes a time when entrepreneurs must decide to continue running their company or move on. Some entrepreneurs love the thrill of a new venture and cannot even think about leaving the business. Others get bored when managing the day-to-day operation and are ready to start a new venture. Finally, there are those who are ready to sell but struggle with the idea of retirement. I know I do. There are options.

    Related: This 79-Year-Old Retiree’s Side Hustle Earns $4,000 a Month: ‘I Work as Much or as Little as I Desire’

    Side hustle as a transition

    A side hustle can be the perfect transition for entrepreneurs who are seeking a new adventure. If you have sold a business but are too young to sit on a beach, it might be a way to earn some cash while you consider the possibilities. A side hustle offers a flexible schedule, and you don’t have to make a significant investment. You can test out a big idea or new product and have the time to refine it. If it shows promise, it becomes your next entrepreneurial venture. If it fails, you still made some money and probably learned a lot.

    Side hustle while working full-time

    For years, people have been asking me when I am going to retire. Honestly, it is getting annoying. It started in my early 60s, and it continues to this day. I know many entrepreneurs who never plan to retire. That does not mean they will continue to work day-to-day in their operation. I have been working for years on a “side hustle” that gives me the best of both worlds.

    While running my company, I built a communications consulting practice. I love to teach seminars, write books and speak to audiences, both big and small. I was intentional about building this side hustle because I know I cannot fathom retirement. Truthfully, like most entrepreneurs, there are some things I no longer enjoy doing at work. There are projects that do not require my advanced skills. I needed to step out of the way so that others at the company could step up.

    Several years ago, working with my accounting team, I began to create a “business within a business.” All the activities that I was doing solo were line-itemed and separated out on the balance sheet. That way, we could account for all the income and expenses. More recently, I formed a new business entity where all that work now resides.

    It is important to note that building a side hustle while working full-time running a company is quite different than doing it as a transition. I have made my established business the priority because there simply is not enough time to do both well. There are opportunities I have turned down. However, when I finally do sell the business, my side hustle is established and is ready to be supercharged.

    Related: 10 Side Hustles for Retirees: Making Extra Cash on Your Terms (And Enjoying the Ride!)

    Side hustle as an alternative to retirement

    Entrepreneurs looking to work well into retirement should look at their existing business and determine if activities or services can become the foundation of a side hustle. In my case, there is no conflict of interest between my side hustle and my business. That may not be the same for others. In fact, if you sell, there may be strict non-compete clauses. Look for specific expertise that you have that no one else does. You may be able to carve out working with clients who will not stay with the company if you leave. There may also be short-term engagement projects that are a perfect fit.

    Of course, a retirement side hustle can be completely different than the entrepreneur’s life’s work. It could be a passion. My father was a business owner, a dry cleaner who had a passion for duplicate bridge. Over the years, he became a life master. His side hustle in retirement was directing bridge games. It was great pin money, kept his mind active and he loved it. Others have hobbies that become businesses. It is easier than ever to set up ecommerce sites and sell anything and everything. Not creative? I know a retired teacher who has become a paid tester of products.

    A side hustle is no longer just for Gen Z or millennials looking to build a career. It is for entrepreneurs of “a certain age” to stay engaged, make a little extra cash or a big haul and work as long as they want. To those who keep asking when I will retire, the answer is not anytime soon.

    It seems that every day, there is another story about a young person who started a side hustle and hit it big. In 2024, over one-third of Americans had a side hustle to supplement their income. Side hustles are particularly appealing to Gen Z, with about half of them reporting having one. Millennials are a little less active, with about one-third of them stepping up to get that extra income that a hustle provides. Are side hustles just for those in the early stages of their career? Is there a huge opportunity for baby boomers as well?

    Several years ago, I wrote an article and shared how I turned my “side hustle,” which at the time we called freelancing, into a business. At the time, I shared that turning a side hustle into a business does not always work. However, if you can go the distance, build a team and get the cash you need to launch and sustain the business you, like me, can have a great run. In 2027, Cynthia Kay and Co. will be 40 years old.

    There are some dramatic differences between a side hustle and a mature business. To begin, a side hustle is generally a part-time endeavor to make some additional money and does not require a lot of investment. A business is more structured and complex. Believe me, it takes a significant amount of time, attention and cash to be successful in the long haul.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Cynthia Kay

    Source link

  • The Overlooked Leadership Trait That’s Driving Big Results | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Despite all the talk about strategy, innovation and growth, one of the most undervalued assets in modern leadership is something deceptively simple: presence.

    Not stage presence. Not personal branding. But the steady, intentional presence of a leader who knows how to show up. Especially when it’s inconvenient, uncomfortable or uncertain. In today’s world of constant disruption, remote work, geopolitical shifts and cultural change, presence has become a strategic differentiator. And yet, we rarely talk about it.

    As the CEO of BGN, a global energy company operating in complex, volatile markets, I’ve seen firsthand how a leader’s presence has an outsized impact on business outcomes. How we show up for our teams, clients and partners is far more about consistency than sheer charisma.

    Related: This One Overlooked Habit Could Transform How You Lead, Connect and Grow Your Business

    Why presence matters more than perfection

    Leaders often feel pressure to have the right answer, the perfect plan, the flawless execution. But in high-stakes environments, people aren’t looking for perfection. They’re looking for stability. They want to know someone is paying attention, making decisions and staying engaged, even when the path forward isn’t clear.

    That’s what presence delivers: It signals reliability in the face of chaos. It builds trust when trust is hard to come by. And it anchors teams through uncertainty.

    In our industry, technical expertise may get you in the room, but genuine presence keeps the deal alive. It’s what allows you to be called upon when things go wrong without fear of being labeled foolish. It’s what gives your team the confidence to act without second-guessing. It’s the reason people stay, especially in highly demanding and stressful sectors.

    The myth of the distant leader

    The old-school leadership model glorified distance. Leaders would once hide behind a corner office, a closed door, and rely on an immovably rigid chain of command to gain respect. But the world has changed, and that model doesn’t work anymore. Leaders today are expected to be accessible without being overbearing, present without micromanaging, and available without losing sight of the broader company mission.

    That balancing act takes intention. It means being deliberate about how and where you spend your time. It means having the discipline to stay visible when it would be easier to retreat behind data, dashboards or delegation.

    For BGN, for example, presence takes the shape of physically showing up in new markets instead of relying on intermediaries from a distance. I must be prepared, and am even honored, to answer tough questions in open forums — even if I don’t have all the answers. This also means taking the time for real conversations with clients, port workers, technicians and new hires. Not just with the executive circle.

    Related: This Overlooked Leadership Skill Will Help You Build Trust, Influence Teams and Thrive Under Pressure. Here’s How to Develop It.

    Presence is especially powerful for female leaders

    For women in leadership, presence is often misunderstood. We’re told to “speak up more,” “take up space” and “command the room.” But authentic presence, as we’ve learned, is less about performance than it is about being grounded in our values, our priorities and our responsibilities.

    When women leaders show up with clarity and calm, it disrupts expectations in a good way — especially in spaces in which we are underrepresented. It changes the energy and helps to refocus attention on the mission, vision and broader impact of a company’s work.

    And in many environments, it opens the door for others to lead differently, too, with more empathy, more nuance and more depth.

    How to cultivate real presence

    Like most things in life, presence is a practice and habit refined over time. Like any practice, it requires intentional effort. Over time, I learned that there are a few simple ways to do this:

    • Be available when it matters most. Don’t just show up for the good times — show up for the setbacks.

    • Listen longer than you speak, especially when tensions run high. Presence is about making space for others.

    • Respond, don’t react. People notice when you stay composed under pressure. It creates psychological safety for them and the wider group.

    • Be consistent. In your values, your tone and your follow-through. Unpredictable leaders, while arguably effective in the short term, lose trust and confidence in the long term.

    • Invest your time in people. That’s where loyalty, insight and innovation come from.

    Related: 5 Core Strategies for Cultivating Executive Presence

    In a world where chasing speed, scale and visibility seem primary goals, presence may feel slow or soft by comparison. But don’t underestimate its power. Presence is what steadies a company during transitions. It’s what keeps clients from walking away during conflict. It’s what gives teams the courage to act boldly because they know their leader is right there with them.

    When leadership is grounded in presence and substance, not ego, that’s when the real work gets done. If powerful and long-lasting relationships are the engine to strong business, then presence is the fuel.

    Despite all the talk about strategy, innovation and growth, one of the most undervalued assets in modern leadership is something deceptively simple: presence.

    Not stage presence. Not personal branding. But the steady, intentional presence of a leader who knows how to show up. Especially when it’s inconvenient, uncomfortable or uncertain. In today’s world of constant disruption, remote work, geopolitical shifts and cultural change, presence has become a strategic differentiator. And yet, we rarely talk about it.

    As the CEO of BGN, a global energy company operating in complex, volatile markets, I’ve seen firsthand how a leader’s presence has an outsized impact on business outcomes. How we show up for our teams, clients and partners is far more about consistency than sheer charisma.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Rüya Bayegan

    Source link

  • How I Built a Business That Thrives Through Constant Disruption — and How You Can Too | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Over the last 10 years, investing in and leading companies, I’ve wrestled with one big question: How do you build something that lasts in a world that changes faster every day?

    If you’re an entrepreneur, you’ve probably felt it too. There’s always a new AI tool, a new social platform or a new business model. It’s not just noise — it’s acceleration. Thanks to positive feedback loops (like Wright’s Law), the pace of technological change really is speeding up. Better tools lead to better tools. It’s exponential.

    So how do we keep up? How do we lead teams, build products and stay relevant without burning out or constantly pivoting?

    Here’s what I’ve learned: You need a North Star. A clear purpose that guides every decision — no matter how fast the world changes.

    Related: Stop Searching for Your Purpose — It’s Delaying Your Success. Here’s What to Focus on Instead.

    Purpose over product

    Technology is rewriting the rules daily. If your business is built around a single product or service, it’s only a matter of time before someone else builds something better, cheaper or smarter.

    But if you’re anchored to a purpose — a meaningful problem you’re solving — you can’t be disrupted. You might need to change how you deliver on that mission, but the mission itself keeps you steady.

    Let me give you a few examples that have shaped my thinking:

    • Tesla started with expensive electric cars. Now it builds batteries, solar panels, a charging network — even autonomous taxis. All in service of one purpose: to accelerate the world’s transition to sustainable energy.
    • John Deere is known for tractors. But today, they employ just as many software engineers as mechanical ones. Why? Because their mission isn’t just selling green machines — it’s empowering the people who feed the world. That now includes satellite data, AI and automation.
    • At Singularity University, where I serve as CEO, our purpose isn’t programs or events — it’s to educate, inspire and empower leaders to create breakthroughs powered by exponential technology. That’s our filter for everything. If it doesn’t align with the mission, we don’t do it.

    What this looks like in practice

    If you’re a founder, CEO or builder, here’s how I recommend you apply this thinking:

    • Define your purpose. Not what you do, but why you exist. What’s the problem you’re solving and why does it matter?
    • Get your team aligned. People don’t want to just punch a clock — they want to work on something that matters.
    • Use your purpose as a filter. New product idea? Strategic hire? Partnership? Ask: Does this move us closer to our mission?
    • Let go of distractions. Misaligned initiatives confuse your team and dilute your energy. Focus builds momentum.
    • Align your business model. Purpose and profit should work together. The more impact you make, the more value you create.
    • Stay flexible. Tech and markets evolve. You don’t need to cling to what worked before — but your mission should stay rock solid.

    Final thought

    There’s no stopping the pace of change. But you don’t need to outrun it. You need to out-align it — with purpose.

    In my experience, there’s no better edge than knowing exactly why you’re doing what you’re doing. When your team is aligned around that North Star, it’s not just your product that wins. It’s your brand, your culture and your long-term relevance.

    That’s how you build something that doesn’t just survive disruption — but drives it.

    Over the last 10 years, investing in and leading companies, I’ve wrestled with one big question: How do you build something that lasts in a world that changes faster every day?

    If you’re an entrepreneur, you’ve probably felt it too. There’s always a new AI tool, a new social platform or a new business model. It’s not just noise — it’s acceleration. Thanks to positive feedback loops (like Wright’s Law), the pace of technological change really is speeding up. Better tools lead to better tools. It’s exponential.

    So how do we keep up? How do we lead teams, build products and stay relevant without burning out or constantly pivoting?

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Aaron Vaccaro

    Source link

  • Take These 5 Steps to Future-Proof Your Business | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Small businesses are facing strong headwinds in today’s dynamic business environment. Technology is evolving faster than entrepreneurs can keep up with, market and consumer demands are constantly changing, and there seems to be a new economic or geopolitical disruption every week. Surviving in this landscape requires businesses to have robust strategies and systems in place while simultaneously remaining nimble. This pressure is exceedingly difficult to tackle as the business grows.

    To thrive in this volatile business landscape, a comprehensive and resilient strategy is absolutely essential. This involves establishing robust frameworks that allow your business to absorb shocks and swiftly recover from constant change. With technological advancements, particularly AI, businesses must proactively adapt their operations and integrate new tools to avoid being outpaced by agile competitors. Developing a strategy that ensures core functions remain stable under pressure while aligning with your personal and professional vision is paramount for long-term success.

    Related: Follow These 7 Business Strategies to Future-Proof Your Business

    1. Audit and streamline operational processes

    The foundational step to future-proofing your business is to have a deep understanding of your business’s operational processes. The good news here is that for startup entrepreneurs, you were likely involved in their creation. The bad news is that it can be difficult to spot inefficiencies because of internal biases, which is why it’s important to engage other members of your team to participate in the process.

    Start by mapping out all of your critical business processes. Having clearly documented processes allows your business to function like a well-oiled machine. It ensures that everyone is on the same page and working together. As you go through this exercise, look for opportunities to improve tasks that are repetitive, time-consuming and prone to human error. By formalizing your processes, you are future-proofing from the standpoint of reducing dependency on the founder and ensuring critical operations aren’t reliant on a single person.

    2. Leverage technology for automation

    Once you have clearly documented processes, you can strategically leverage technology, including AI, to automate repetitive tasks and drive efficiency. This entails developing a technology roadmap to identify gaps, research emerging solutions and plan seamless integration.

    It’s important to prioritize solutions that solve specific problems and integrate smoothly, such as AI-powered chatbots for customer interactions, predictive analytics for inventory and automation for administrative tasks. Thoughtful implementation can boost efficiency, minimize errors and free your team for strategic work.

    In addition, automation should generate actionable data, allowing your team to identify areas for continuous improvement and proactively spot future disruptions.

    Related: 90% of Your Business Could Be Automated With Just These 4 Tools

    3. Build a culture of delegation

    While technology provides powerful tools, a business cannot truly scale if decisions and critical tasks consistently bottleneck with the business owner. This is why a pivotal step in future-proofing involves actively building a culture of delegation and empowerment within your team. As a business owner, it’s critical to start systematically delegating tasks and responsibilities by providing clear guidelines, comprehensive training and the necessary authority for team members to succeed independently.

    The ultimate goal is to foster an environment where employees are encouraged to take ownership, proactively solve problems and contribute ideas. From a future-proofing perspective, a strong, empowered team is fully capable of adapting and performing effectively even in your absence.

    4. Develop a talent strategy

    Your team is your greatest asset. A solid future-proofing strategy involves more than just hiring. It means actively attracting, developing and retaining adaptable talent, skilled in new technologies. For your existing team, be sure to invest in ongoing training and skill development to ensure their capabilities keep pace with technological advancements and market demands.

    A skilled and adaptable workforce is essential for navigating change, implementing new strategies and embracing new tools. A proactive talent strategy ensures that your team is prepared to meet future demands and leverage emerging technologies effectively.

    5. Foster a mindset of continuous innovation

    To truly future-proof your business, entrepreneurs should encourage a mindset of continuous improvement and innovation. You can do this by encouraging experimentation and allowing your team to make small mistakes and learn from failures. By building agility into your operational planning and decision-making, you are setting up the team to be nimble when unforeseen market challenges arise. Having a culture that embraces change and actively seeks new ideas will enable you to better identify and capitalize on future trends, rather than being overwhelmed.

    Related: The Power of Continuous Innovation — and 3 Easy Ways Your Company Can Achieve It

    There is a lot of uncertainty about the future. With rapid changes due to technology and other factors, it’s impossible to predict the resources, skills and strategies businesses will need to survive. It’s critical for every entrepreneur to take the time to carefully consider what they can do to strengthen the resilience of their businesses and position themselves to take advantage of new and emerging opportunities.

    Small businesses are facing strong headwinds in today’s dynamic business environment. Technology is evolving faster than entrepreneurs can keep up with, market and consumer demands are constantly changing, and there seems to be a new economic or geopolitical disruption every week. Surviving in this landscape requires businesses to have robust strategies and systems in place while simultaneously remaining nimble. This pressure is exceedingly difficult to tackle as the business grows.

    To thrive in this volatile business landscape, a comprehensive and resilient strategy is absolutely essential. This involves establishing robust frameworks that allow your business to absorb shocks and swiftly recover from constant change. With technological advancements, particularly AI, businesses must proactively adapt their operations and integrate new tools to avoid being outpaced by agile competitors. Developing a strategy that ensures core functions remain stable under pressure while aligning with your personal and professional vision is paramount for long-term success.

    Related: Follow These 7 Business Strategies to Future-Proof Your Business

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Nicholas Leighton

    Source link

  • How to Choose the Right Business Model | Entrepreneur

    How to Choose the Right Business Model | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Embarking on the entrepreneurial journey is an exhilarating step toward creating a legacy. However, the stakes are high — it’s almost common knowledge that 90% of startups fail. A recent survey by Failory looked into the why behind this number in 2024. Over half of the failed businesses cited marketing failures. Specifically, 34% cited poor market fit as a critical factor.

    This makes selecting the right business model in 2024 more crucial than ever to ensure you’re positioned correctly in the market. Aligning your business model with market demands and personal values is key to avoiding these statistics.

    By exploring the advantages and challenges of various models, from the structured support of franchising to the flexible adaptability of lean startups, it’s important to assess how each aligns with your long-term goals and immediate needs.

    Related: The 7 Elements of a Strong Business Model

    1. The structured approach of franchising

    Franchising offers a structured pathway to business ownership that combines the security of a proven system with the excitement of entrepreneurship. One of the primary benefits of franchising is its turnkey operation. Franchisees are provided with a ready-made business blueprint, significantly lowering the startup failure rate compared to independent ventures. This model comes with established brand recognition and customer loyalty, which can be invaluable assets from day one.

    Take McDonald’s, for example. With over 38,000 locations worldwide, McDonald’s franchisees benefit from the power of a globally recognized brand and a loyal customer base, reducing much of the risk that comes with starting a new business. McDonald’s offers its franchisees extensive training and support, covering everything from store operations to financial management and marketing campaigns. This ensures that franchisees can focus on growing their individual outlets without the burden of building these systems from scratch.

    McDonald’s has perfected this model by streamlining processes and leveraging its vast supply chain. Franchisees get the advantage of bulk purchasing, established suppliers and powerful advertising campaigns. This support structure helps new owners avoid many pitfalls that independent businesses face, such as inconsistent quality or costly marketing efforts.

    However, franchising comes with challenges. In the case of McDonald’s, the initial investment is significant, often ranging between $1.3 million and $2.3 million. Franchisees must also pay ongoing royalties, typically 4-5% of gross sales, which can impact long-term profitability. Additionally, while franchisees benefit from McDonald’s global reputation, they must adhere to strict operational guidelines, leaving little room for creativity or local adaptation. McDonald’s maintains tight control over everything from the menu to store layout, which limits entrepreneurial freedom.

    For entrepreneurs drawn to the structure and support of a well-established brand, franchising can be a less risky pathway to success. However, it’s important to weigh the financial commitments and lack of operational flexibility when considering this model.

    2. The subscription-based model

    Subscription-based models offer several compelling advantages for businesses looking to establish a steady and predictable revenue stream. This model significantly reduces the unpredictability associated with one-time sales by ensuring that revenue is generated on a regular basis through monthly or annual subscriptions. For example, Dollar Shave Club revolutionized the razor industry by offering affordable razors and grooming products directly to consumers via subscription. This not only created a consistent revenue stream but also built strong customer loyalty by delivering products on a recurring basis.

    One of the key benefits of this model is its scalability. Dollar Shave Club demonstrated this by expanding its offerings based on customer feedback, moving from simple razors to a broader range of grooming products. The subscription model allowed the company to scale quickly and efficiently, as it could adjust its services without substantial incremental costs. This adaptability helps businesses respond to market demands and maintain operational efficiency as they grow.

    However, while subscription models like Dollar Shave Club have thrived, maintaining customer retention is an ongoing challenge. To prevent churn, companies must constantly innovate and deliver exceptional customer service. In Dollar Shave Club’s case, they continuously updated their product line and used clever, engaging marketing to keep customers interested and subscribed. This approach helped them avoid high churn rates, but it also required significant investment in product development and customer engagement strategies.

    While the subscription model provides businesses with stable revenue and growth opportunities, it also demands consistent attention to customer satisfaction. Companies need to focus on innovation and customer service to retain subscribers, making the model both lucrative and resource-intensive.

    Related: 4 Effective Business Models That Built Billion-Dollar Companies

    3. The lean startup model

    The lean startup model is highly regarded for its flexibility and cost-effectiveness, making it an attractive option for entrepreneurs aiming to minimize risk while maximizing adaptability. A prime example of this is Dropbox, which used the lean startup approach to become a multi-billion-dollar company. Rather than building a full product from the start, Dropbox launched a Minimum Viable Product (MVP) — a simple video demonstration of its concept. This allowed the founders to gather feedback and gauge interest before committing to full-scale development. The overwhelming response validated the demand for a simple file-sharing solution, and Dropbox quickly grew from a startup into an industry leader.

    By following this lean methodology, Dropbox was able to iterate rapidly, continuously improving its service based on real-time user feedback. This approach minimized upfront investment while ensuring that their product met the needs of the market. As of its 2023 revenue report, Dropbox has reached over 700 million registered users, and its annual revenue was $2.5 billion, demonstrating the power of scaling efficiently using lean principles.

    However, the lean startup model isn’t without challenges. Its iterative nature requires constant adjustments, which can lead to uncertainty and the risk of over-pivoting. While Dropbox managed to scale effectively, frequent product changes can confuse stakeholders or destabilize the business strategy if not carefully managed. Despite these risks, for entrepreneurs who prioritize flexibility and responsiveness, the lean startup model offers a pathway to success with minimal initial investment.

    4. The cooperative business model

    The cooperative business model emphasizes shared ownership and decision-making, fostering a democratic approach to running a business. Each member has a voice in key decisions, promoting transparency and engagement. This model often leads to a strong sense of community and prioritizes long-term value over short-term profits. A prime example is REI (Recreational Equipment, Inc.), a consumer cooperative that has successfully operated under this model for over 80 years. REI’s profits are either reinvested in the business or returned to its members through annual dividends. In 2022 alone, REI returned $234 million to its 23 million co-op members in the form of dividends and member-exclusive discounts.

    One of the major advantages of the cooperative model is the alignment between the business and the community it serves. REI, for instance, focuses on environmental sustainability and local development, ensuring its values match those of its members. This not only creates brand loyalty but also strengthens the cooperative’s long-term sustainability.

    However, there are challenges inherent in the cooperative model. Since profits are distributed among all members, individual financial returns may be lower compared to other business structures. Additionally, decision-making can be slower due to the need for consensus among many members. For REI, balancing its cooperative ideals with financial growth has been crucial to maintaining its success while supporting both the environment and its community.

    Related: How to Navigate Today’s Complex Entrepreneurial Landscape — 4 Strategies for Success

    Choosing the right business model is a cornerstone decision for every aspiring entrepreneur. By considering both the advantages and limitations of each model, entrepreneurs can align their business strategies with their personal values, market conditions and long-term goals, forging a path to success that is both fulfilling and sustainable.

    [ad_2]

    John Conway

    Source link

  • The Port Strike Ended — Now What? | Entrepreneur

    The Port Strike Ended — Now What? | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In October, ports across the U.S. shut down as the International Longshoremen’s Association (ILA) went on strike for the first time since 1977. The port strike shut down 14 major ports and threatened to disrupt more than half of the U.S.’s global trade.

    The ILA represents about 45,000 dockworkers, and the union went on strike to demand higher wages and a ban on automation. Fortunately, the shutdown only lasted for three days, and the ILA and the U.S. Maritime Alliance extended their contract until January 15, 2025.

    However, if they can’t reach an agreement in the new year, the dockworkers could go on strike again. It’s a good idea for small businesses to start diversifying their supply chain and getting ahead of overseas orders now, just in case we find ourselves in a repeat situation.

    Related: 5 Ways of Effectively Navigating Supply Chain Disruptions

    The economic impacts of a port strike

    How a port strike would affect the U.S. economy depends largely on how long it lasts, but shipping delays would likely be the first and most noticeable sign. Over $2 billion worth of goods flow through these ports daily, and a strike would affect everyday items like perishable food, different types of alcohol, durable goods and raw commodities.

    Delays could hurt small businesses that rely on shipments from overseas suppliers, causing low inventory and lost revenue. If a shutdown lasted more than a month, it could cause the cost of imported goods to rise and contribute to inflation. Transportation costs could also rise due to the increased delays.

    An extended port strike would hurt retail, agricultural and manufacturing businesses, and over time, this could force businesses to lay off workers to cut their expenses. A prolonged strike could also hurt the U.S.’s relationship with its global partners and cause other countries to look for alternative trade partners.

    Related: 7 Strategies for Growing Your Business When Supply Chain Disruptions Are Everywhere

    How businesses can mitigate future risk

    A port strike poses numerous challenges, but businesses do have time to prepare so they aren’t caught off-guard. January through March tends to be a slower period for retail sales, so businesses will have more capacity to keep their supply chain moving. Let’s look at five ways small businesses can prepare for another port strike.

    Stock up on inventory

    Businesses have until January 15 to begin building up their inventory and preparing for another shutdown. Start reviewing your inventory levels to accurately forecast demand and determine what you’d need to get through a strike. Prioritize high-margin products and items that are essential to your business operations.

    Diversify your supply chain

    Another way small businesses can protect themselves is by diversifying across several different suppliers. Begin establishing relationships with suppliers in different locations or countries and look for opportunities to source these items locally. Domestic suppliers may be more expensive, but they’ll reduce your dependence on international ports.

    Use inventory management software

    If you aren’t already using inventory management software, now is a good time to start. This software gives you real-time visibility into your inventory levels, making it easier to forecast demand and make informed purchasing decisions.

    Inventory management software uses AI to analyze historical data and external factors to predict future demand. It can also help you determine which items are the most popular and should be prioritized.

    Communicate with your customers

    Since an ongoing port strike can cause delays and inventory shortages, it’s important to communicate with your customers. Let them know about potential delays and increased costs before these problems occur. Being upfront about these challenges will help you build trust with your customers and let them know you’re doing everything you can to manage the situation.

    Set clear expectations for how long delays could last and recommend alternative products that are available. Make sure your customer service team is prepared to handle customer questions and that it’s easy for customers to get in touch with your business.

    Prepare for additional costs

    If another shutdown occurs, small businesses should expect inventory, storage and transportation costs to increase. Coming up with cash flow solutions now will ensure your business can absorb these costs without any major disruptions.

    If you don’t already have one, establishing a line of credit can help you cover the cost of extra inventory and additional storage space. You can also negotiate with your suppliers to extend your payment terms and free up your cash flow.

    Related: How to Secure the Inventory You Need During a Supply Chain Nightmare

    According to the Conference Board, a nonprofit think tank, a one-week shutdown could cost the U.S. economy $3.78 billion. Hopefully, the ILA and U.S. Maritime Alliance will reach an agreement before January, but business owners should be proactive and plan for the worst-case scenario.

    Take the time to assess your supply chain now and look for ways you can strengthen it. Diversifying your supply chain and stockpiling inventory now will help you minimize the fallout if another strike happens. It’ll also help you preserve your relationships with your customers.

    [ad_2]

    Joseph Camberato

    Source link

  • 3 Trends That Will Change the Future of Entrepreneurship | Entrepreneur

    3 Trends That Will Change the Future of Entrepreneurship | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The most recent data from the new Global Entrepreneurship Monitor report reveals a powerful trend for the future of entrepreneurship.

    Young adults, aged 18-24, had both the highest entrepreneurial activity and entrepreneurial intentions in the United States, according to the Global Entrepreneurship Monitor 2023-2024 United States Report. With similar results in 2022, this is not just a minor shift — it’s a fundamental change that could have lasting impacts on the economy and society.

    I serve as the chair of the board for the Global Entrepreneurship Research Association, the entity that oversees GEM, which was founded in 1999 as a joint venture of Babson College and the London Business School. As the GEM U.S. team co-leader and a professor of entrepreneurship at Babson, I see firsthand the impact of the research created by the Global Entrepreneurship Monitor.

    Here are three entrepreneurship trends from the new GEM report that are changing the landscape for the future.

    Related: 21 Success Tips for Young and Aspiring Entrepreneurs

    1. Young entrepreneurs on the rise

    For years, entrepreneurship has been dominated by older, more experienced individuals, but this year’s report shows that the youngest adults are now at the forefront. According to GEM, 24% of 18- to 24-year-olds are engaged in some form of entrepreneurial activity, a higher rate than any other age group. What’s driving these young entrepreneurs is equally remarkable: They aren’t just starting businesses to make money; many are deeply committed to making a positive impact on society and the environment.

    These young entrepreneurs make sustainability a key priority. They are more likely than entrepreneurs from older generations to build businesses with sustainability as a core focus — whether that means reducing their environmental footprint or focusing on social causes. This shift toward impact-driven entrepreneurship isn’t just anecdotal. GEM data shows a significant number of young entrepreneurs taking real, measurable steps to create businesses that align with their values. With sustainability as their north star, young entrepreneurs appear to be simultaneously pursuing societal impact as well as profits.

    However, it’s not all smooth sailing. While young people are leading the way in starting businesses, they are also discontinuing them at higher rates than their older counterparts. The discontinuation rate for 18- to 24-year-olds is 15%, the highest among all age groups. This is not surprising, given the challenges of inexperience and more limited access to capital. Starting a business is tough, and sustaining one is even more challenging. But despite these hurdles, the enthusiasm and energy that young people bring to entrepreneurship are undeniable, and with the right support, this generation has the potential to drive substantial change.

    2. Tech gender gap narrows

    One of the most promising findings in the GEM report is the narrowing gender gap in the technology sector. Historically, tech startups have been dominated by men, but 2023 saw a record-low difference in the number of men and women starting tech companies. The gap has narrowed to just 1%, with 8% of women compared with 9% of men launching businesses in the Information and Communication Technology (ICT) sector.

    This is a significant step forward and reflects broader efforts to support more women technology startups. Still, it’s important to recognize that while progress is being made, continued focus on providing equal opportunities is essential to ensuring this trend continues.

    3. Optimistic outlook for Black and Hispanic entrepreneurs

    Another highlight from the report is the optimistic outlook among Black and Hispanic entrepreneurs. These groups showed stronger confidence in their entrepreneurial abilities and lower fear of failure compared to their white counterparts. Black respondents, in particular, demonstrated high levels of resilience and self-assurance, which is vital in overcoming barriers faced in starting and sustaining businesses. This optimism is encouraging, but there’s still much work to be done in assuring ecosystems offer equal opportunities for all aspiring entrepreneurs, regardless of their background.

    Related: I Wish I Received This Advice as a Young Entrepreneur

    A promising future

    Reflecting on the key findings of this year’s GEM report, it’s clear that the entrepreneurial landscape is changing in meaningful ways. The rise of young, sustainability-driven entrepreneurs signals a future where business is not only about profit but also about making a difference. These young entrepreneurs are launching businesses at a time when the world is looking for solutions to some of its most pressing challenges — climate change, poverty and economic recovery.

    Yet, to fully realize the potential of this next generation, there must be more focus on addressing the challenges they encounter. Young entrepreneurs need access to the right resources — whether it’s funding, education or mentorship — to turn their innovative ideas into sustainable businesses. The narrowing gender gap in tech is encouraging, but we must continue to foster environments that support women and other underrepresented groups in entrepreneurship.

    The GEM report paints a picture of an entrepreneurial future driven by purpose, diversity and innovation. But it also reminds us of the work that lies ahead in making entrepreneurship more accessible and sustainable. If we can provide young entrepreneurs with the tools and support they need, we will not only see more businesses being created — we’ll see businesses that are making a lasting, positive impact on the world.

    [ad_2]

    Jeffrey Shay

    Source link

  • Why Relying on Social Media for Income Is a Losing Game for Creators | Entrepreneur

    Why Relying on Social Media for Income Is a Losing Game for Creators | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Social media platforms are constantly evolving to keep creators engaged, but the changes to their monetization systems aren’t always in the creators’ best interest. Recently, platforms like Meta (Instagram/Facebook) and X (formerly Twitter) made adjustments to their creator monetization platforms in an effort to keep us producing content that keeps users scrolling. But let’s be honest — these systems are designed to benefit the platform more than the creator.

    Not everyone is on these platforms to make money from their monetization programs, but if you are — and you’re relying on these platforms for revenue — you’re playing a losing game. Algorithms control the visibility of your content, and whether you’re earning from ad revenue or just trying to reach more people, it’s the platform that ultimately calls the shots.

    I’ve experienced this firsthand. Over the last year, I racked up 35.9 million impressions on X. You’d think with that kind of reach, the payout would be significant, right? Well, not quite. My total earnings? $115.24. That’s barely enough for a decent pair of sneakers.

    The truth is, if you’re relying solely on platforms like Meta or X to build your livelihood, you’re going to be disappointed. These platforms are great for visibility, but they aren’t designed to make creators rich. It’s time to stop chasing likes, shares and viral moments and start taking control of your content and revenue streams.

    Related: 3 Reasons Why Relying on Social-Media Marketing Is a Losing Strategy

    Platforms are for awareness, not revenue

    Let’s get this straight — social media platforms are excellent tools for building awareness. They can help you reach new audiences, grow your following and gain visibility. But when it comes to monetizing that reach, the situation changes. The problem isn’t with creators not making good content; it’s that the platforms themselves control how many people see your work and how much you earn from it.

    Creators need to understand that these platforms are ad platforms first, not creator-first. They profit from ads, not from paying creators. Recent changes on Meta and X reflect this, as both platforms have made tweaks to their monetization systems to keep creators engaged and pumping out content. However, these changes don’t really shift the balance in the creator’s favor.

    The reality of revenue share on social platforms

    Here’s how monetization on these platforms works:

    • Meta (Instagram/Facebook): They’ve introduced In-Stream Ads and Ads on Reels, allowing creators to earn from their content. But unless you have a huge following, those earnings will be minimal. They may give the illusion of helping creators, but the lion’s share of the revenue goes to Meta.

    • X (formerly Twitter): X recently made a switch to paying creators based on engagement from Premium users only. This means if your audience isn’t subscribed to X Premium, their engagement doesn’t count toward your earnings. In other words, the platform is asking you to push their premium service to make money.

    The common theme? These platforms dictate your reach and earnings. Even with millions of impressions, you might still see shockingly low payouts. That’s the reality of relying on algorithms and ad-based revenue.

    What content ownership really means

    When I say “take ownership of your content,” I’m talking about moving away from platforms you don’t control. You need to be in charge of where your content lives, how it’s monetized and who gets to access it.

    This is what true ownership looks like:

    • Your content resides on a platform you control.

    • You decide how it’s monetized.

    • You set the terms for who gets access and keep 100% of the revenue.

    Social media platforms are useful for visibility, but if they change their algorithms or policies, your reach and income can vanish overnight. Creators who rely solely on these platforms are always at risk of having their hard-earned audience controlled by someone else’s rules.

    I’ve seen creators with massive followings wake up one day to find their reach has been slashed because of an algorithm update. That’s the trap: You’re constantly at the mercy of decisions made by the platform, not by you.

    Related: Using Social Media Alone To Build Your Brand’s Online Community Means You Risk Losing It All. Here’s Why.

    Creators are sleeping on email

    The crazy part? Many creators are still sleeping on email. Even some of the biggest names in content creation are putting all their faith in social media platforms. But email is one of the most powerful tools for reaching your audience directly. Unlike social media, you own your email list. Algorithms can’t touch it.

    Take Morning Brew as an example. They built their media empire by delivering free content through email. They cut through the social media noise, and today, they’re monetizing that audience through ads and sponsorships — keeping the majority of the revenue for themselves.

    Email marketing gives you control and consistency. You don’t have to worry about reach being throttled because you own the relationship with your audience.

    Why every creator needs a paid newsletter or course

    If you’re serious about monetizing your audience, it’s time to move beyond relying solely on social platforms. Instead, focus on creating content you can own, like a paid newsletter or an online course.

    Here’s why these models work:

    1. Paid newsletters: A paid newsletter allows you to deliver exclusive, high-value content directly to your subscribers. This creates recurring revenue and puts you in control of what you’re delivering and how much you’re charging. Morning Brew is a prime example of how this model can be scaled. By giving away content for free, they built a massive audience, which they now monetize through ads and sponsorships.

    2. Online courses: Have a skill or expertise? Package it up and sell it as a course. Online courses are a scalable product that keeps generating revenue even after you’ve created it. You can build a course once and keep profiting from it indefinitely.

    How you can leverage social platforms for awareness

    Just because I’m saying don’t rely on social platforms for revenue doesn’t mean you shouldn’t use them. Social platforms are still one of the best ways to build awareness and get attention at the top of the funnel. Here’s how you can leverage them to support your monetization strategy:

    1. Create awareness: Post engaging content that hooks people in. Your goal is to drive visibility, not immediate monetization.

    2. Drive traffic to owned channels: Once you’ve captured attention, move your audience to your email list, website or paid newsletter — platforms you control.

    3. Monetize on your terms: With your audience on a platform you own, you can monetize however you see fit, keeping all the revenue and growing your business sustainably.

    Related: Why Email Marketing Is Better for Your Business Than Social Media

    The creator economy is evolving, and the future belongs to those who take control of their content and revenue streams. Social media platforms like Meta and X are great for building awareness, but you shouldn’t depend on them for monetization.

    Instead, take control by moving your audience to a platform like email newsletters or online courses, where you own the content, the reach and the revenue. You’ll be free from the constant algorithm changes and in control of how much you earn.

    Ready to take control of your future? Start building your audience and stop relying on social platforms to determine your success. The future of your business depends on it.

    [ad_2]

    Carlos Gil

    Source link