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Tag: Entrepreneurs

  • Trailblazing Black Women Entrepreneurs Share How They’re Breaking Barriers | Entrepreneur

    Trailblazing Black Women Entrepreneurs Share How They’re Breaking Barriers | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For every Black woman who starts a business, a barrier is broken. An impressive 50,000-plus Black women are innovating in the United States — but not without the uphill battle of fighting bank funding denials, limited access to capital and systemic racism and sexism. Despite the challenges, Black women are bringing their products and services to the market.

    I’ve discovered several Black-owned brands and know they’re setting the stage for Black women everywhere to feel well, look good, and stay rooted in the culture. Here are four Black woman-owned businesses breaking barriers and some of their insights on business.

    Related: The Burden of Breaking Barriers is Pushing Black Leaders to Breaking Point. This DEI Expert Reveals Where We Are Going Wrong

    Fitness snob

    Fitness Snob is a Black and women-owned crew sock brand helping to cultivate and empower every woman’s fitness lifestyle. They’ve created perfectly tailored crew socks with styles that make it easier than ever to embrace one’s fitness journey in style.

    While crew socks don’t seem like a barrier-breaking product, they really are. With the apparel industry being largely dominated by white male-owned businesses, Black woman-owned fashion — especially crew socks, which are prized by athletes in every corner of our country — are hard to come by.

    When Fitness Snob founder Kim Turner was pressed about the challenges she’s faced growing her business, she said, “Being a Black-owned business entails overcoming stereotypes and obstacles, from the perception of catering exclusively to Black consumers to the struggle to secure startup capital and combat doubts about quality and legitimacy.”

    Despite these challenges, Turner has found the journey immensely rewarding as breaking barriers in the apparel industry has allowed her to witness her products transcend racial boundaries and empower all women to prioritize their health and fitness in style.

    Related: 6 Ways to Offer Allyship to Black Entrepreneurs

    DESERI

    With tons of fashion brands emerging from Europe, DESERI is a Black woman-owned fashion brand crafting signature handbags and jewelry that are timeless, elegant, and undeniably of the moment. Each product is handmade and a true work of art that reflects the skill of the artisan and the eye of the designer.

    With a deep appreciation for and commitment to quality, Deseri Kelley created a brand that is the embodiment of luxury made accessible. Representation matters. There are a million handbag brands out there, but very few are Black woman-owned and able to meet the mass market where they are.

    When asked about what qualities it takes to make a barrier-breaking Black-owned business, Kelley said, “Authenticity is the cornerstone of entrepreneurial success. By staying true to our values, celebrating diversity, and fostering a positive impact within the industry, we have not only built a brand but also a community.”

    Deseri emphasizes that embracing authenticity resonates with customers and, as a consequence, creates a loyal following that’s drawn to the business’s passion and purpose.

    Related: 5 Qualities of Black Excellence Overlooked in the Workplace

    Vontélle

    Vontélle is a luxury bespoke eyewear brand with an ethnic flair using unique African, Caribbean, and Latin print designs and textiles created by women of color. The luxury eyewear market is dominated by European brands, so it’s been refreshing to don a pair of Vontélle eyewear that are handcrafted and made for diverse faces.

    In addition, Vontélle is the first Black women-owned and operated eyewear company to obtain a licensing agreement from Nickelodeon. This brand is changing the narrative of who stylish eyewear is made for and putting Black and brown people’s unique physical characteristics and culture front and center in their designs.

    When Vontélle co-founders Tracy Vontélle Green and Nancey Flowers-Harris were asked about lessons they learned since starting their eyewear brand, they said, “soft launch with few products. We launched 37 designs with a large MOQ (minimum order quantity), in hindsight, we should have done a soft launch with 5 to 10 eyewear styles.” According to these founders, when launching a direct-to-consumer brand, starting small is key.

    Kee’ss Moi

    With the beauty and make-up industry dominated by white male-owned businesses, Kee’ss Moi is breaking barriers with their cruelty-free and vegan lip glosses inspired by iconic landmarks and neighborhoods. Founded by Mouna Deme, a French visionary with Senegalese roots, they’re celebrating diversity and inclusivity in beauty with products that match darker skin tones and make Black women look chic.

    When asked how creating a make-up line for women of color in a male-dominated space has impacted her vision and purpose, Deme said, “I’ve realized the importance of embracing imperfections and letting go of the need for perfection, which allows for more genuine moments and creative outcomes.”

    Deme has also learned that delegating tasks is essential for the optimal performance of the business. She knows that doing everything alone is not sustainable, and finding a work-life balance that aligns with her needs is key to increasing productivity in her business.

    Final thoughts

    For years, Black women entrepreneurs didn’t have options. From the clothing we wore to business meetings to the makeup we put on for photoshoots, many of us longed for more inclusive and flattering options, culturally competent designs, and to see someone who looks like us running companies with purpose.

    We’ve made significant progress in the past few decades and many of us finally have access to Black woman-owned brands that truly “get” us and our aesthetic and values. These are just four of the many Black woman-owned businesses breaking barriers and giving us options. I encourage you to support these businesses and hope you’ll keep your eye out for other Black women-owned brands near you.

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    Nika White

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  • CEO Mindset Quotes That Keep Me Honest and Inspired | Entrepreneur

    CEO Mindset Quotes That Keep Me Honest and Inspired | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Quotations are popular for a reason — sometimes a short piece of wisdom is exactly what’s needed to inspire you, keep you honest or ground you in your values. The ones that tend to stick with you might be large ideas contained in small pieces of text or simple advice that helps you remember something important. They can feel inspiring and give us principles to remember to live by.

    I’m known to wear a variety of printed T-shirts with words of motivation on them to help me remember something important to me and to inspire others around me because I love to share an inspiring message. So here are eight of my favorite quotes for CEOs and why I think they’re useful to remember:

    Related: 30 of the Most Inspirational Leadership Quotes

    1. “If you don’t have an assistant, you are one!” — Cameron Herold, author and coach

    One of my favorite quotes that got me to take action was this one from Cameron Herold. This quote represents one of the most important lessons for an entrepreneur to learn — your time is your most valuable resource, so spend it on the tasks that are most important. That means delegating anything that doesn’t require your level of expertise. Would you pay someone your salary to do the work of an assistant? If you don’t have one, you’re already doing that!

    2. “It’s okay to admit what you don’t know. It’s okay to ask for help. And it’s more than okay to listen to the people you lead — in fact, it’s essential.” — Mary Barra, CEO of General Motors

    Strong leadership requires some level of vulnerability. Admitting when you don’t know something, asking for help and listening to your employees are markers of an effective leader. The leader who tries to do it all on their own will never accomplish as much as the leader who values the expertise of others.

    3. “All our productivity, leverage and insight comes from being part of a community, not apart from it. The goal, I think, is to figure out how to become more dependent, not less.” — Seth Godin, author and speaker

    One of the most important leadership lessons to learn is that your greatest business asset is your team. Each person brings a unique perspective and skillset, and the best innovations happen in collaboration. Your community extends beyond just your team as well — friends, mentors and family members all provide valuable, enriching relationships. Don’t neglect them.

    4. “No legacy is so rich as honesty.” — William Shakespeare

    If there’s anyone who managed to set a remarkable legacy, it was Shakespeare. More than what you accomplish, people will remember the way you behaved. And your legacy doesn’t just start after you die; it’s already in action, in the way people associate with you. A legacy and reputation as an honest person will take you far.

    Related: 15 Quotes on Success From America’s Top CEOs

    5. “You can’t use up creativity. The more you use, the more you have.” — Maya Angelou

    As the CEO of your business, your creativity is one of your most valuable skills, so it’s worth taking the time to practice it. I’m known for dedicating a day each week to creative endeavors to help keep my creative muscles in shape. And I highly encourage everyone to make intentional time for creativity, because the more often you do it, the more easily ideas will come to you.

    6. “A pessimist is one who makes difficulties of his opportunities and an optimist is one who makes opportunities of his difficulties.” —Harry S. Truman

    Stop letting your thoughts get in your way. It’s easy to adopt a pessimistic attitude under the guise of “realism,” but the reality is that it’s optimists who tend to get the best outcomes. Why? Because they’re not easily discouraged, so they’re more likely to learn from their mistakes and keep trying. As opera singer Robert Breault said, “The realist sees reality as concrete. The optimist sees reality as clay.”

    7. “What looks like multitasking is really switching back and forth between multiple tasks, which reduces productivity and increases mistakes by up to 50%.” — Susan Cain, author

    If you’re anything like the majority of entrepreneurs I know, you’re always trying to do more with your time. Time is your most valuable resource, so it’s important to use it wisely — which is exactly why multitasking is a bad idea. You’ll always get more done when you dedicate your focus to a single task and give it your all.

    Related: ‘Let’s Punch Today in the Face!’ 20 Inspiring Quotes and Sayings That Motivated Successful Entrepreneurs

    8. “The best way to drive performance in an organization is to create an environment in which information can flow freely, mistakes can be highlighted, and help can be offered and received.” — Simon Sinek, author and speaker

    Creating a productive workplace culture can seem dauntingly complex to many executives, but the core of it is collaboration, where each employee is given the resources to perform their best. And in order to have strong collaboration, you need a creative and judgment-free environment where people can bring their ideas, perspectives and expertise to the table, communicate freely, take ownership over their tasks, ask for help when needed and have the freedom to make mistakes. When you create a culture of collaboration, that’s where innovation begins.

    If you found one of these quotes particularly inspiring or helpful, write it down on a sticky note and put it somewhere you can see it regularly. Sometimes these short reminders are exactly what we need to refocus and maintain our perspective.

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    Jason Hennessey

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  • This Entrepreneur’s Evolution from Content Creator to Global Business Leader | Entrepreneur

    This Entrepreneur’s Evolution from Content Creator to Global Business Leader | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For our show The CEO Series, I’ve been lucky enough to sit down with some of the smartest and most creative business leaders in the world and get their hard-won advice on what it takes to launch and grow a thriving brand.

    This episode took us to the New York Stock Exchange floor to talk with Norma Chu, founder and CEO of DayDayCook. The direct-to-consumer food and content brand has a reach of over 60 million users and completed its initial public offering in November of 2023. Norma told me that the company’s mission is to promote the joy of Asian cooking to the world through a growing portfolio of authentic Asian food brands focused on convenient ready-to-cook and ready-to-eat products.

    Over the course of our conversation, Norma explained the evolution of DayDayCook, her passion for food, her strategy for business building, and, luckily, got me in the kitchen to whip up an insanely delicious red curry noodle lunch.

    Below are some highlights of our conversation, which have been edited for length and clarity. Watch the full video above to learn all of her incredible insights (and to see if Norma was able to turn me into a five-star chef!)

    DayDayCook’s business evolution

    “DayDayCook started about 13 years ago with a simple idea: I wanted to create something that can inspire the future generation to continue to enjoy cooking. And I started doing that by creating a lot of short-form videos and sharing the content on social media platforms like YouTube. For the first three years, we’re really focused on the Hong Kong market. And then later on we expanded into the mainland China market. That’s when we started exploring different things like going into content commerce and incorporating some product recommendations into our video. And from there, I decided to launch our own branded product portfolio.”

    Related: He Built a Personal Finance App That Manages $8 Billion for Half a Million Customers. Here Is the CEO of M1’s Hard-Earned Advice for Future Founders.

    Trends in the food industry

    “There have been a few really interesting trends in recent years. Number one is that three out of five consumers view the kitchen as the new epicenter for creativity and trying new recipes. The second trend is that East Asian cuisine has become more and more popular. And the third trend is that more people are cooking at home. Forty-three percent of consumers find themselves cooking at home more versus twelve months ago.”

    Her passion for spreading joy

    “I always tell people I had two true passions in life: cooking and the stock market. [Laughs] The passion for cooking started at a very young age. My parents and grandparents had a very early influence on me in terms of thinking about cooking not as a chore, but it’s as an act of care. So when you care about what you cook and what you eat and you share that with other people, joy and happiness come naturally. And that’s something very important to the company, continuing to share that joy while preserving our heritage.”

    Related: How Personal Passions Fuel Business Success for the CEO of Vivid Seats

    The keys to success as an entrepreneur

    “When I was young, I didn’t really think about starting my own business. But at a young age, I always liked trying new things. And that carried over to my work life. I worked as a hostess, and as an intern at a private bank and at accounting firms. I also taught Chinese and English in Japan. I think that having that kind of mentality of curiosity and not being afraid of the unknown are some of the key components of being an entrepreneur. And always thinking on the positive side. If you see maybe more people are coming into this space or there’s more innovation in this space, look at that in a positive light. Think about How can I be a part of that? And the third step is really going for it. Not just having an idea. Not just having awareness. When you see the opportunity, you actually seize it and you go for it.”

    Her changing role as CEO

    “I started the company with a co-founder and a very small team. At first, it was about just kind of executing on the early concept of this vision. But then over time, we started raising capital and then a few years later, we decided to take on institutional investor money. So I had to learn different things. I have to learn how to fundraise. What does the series A mean? How do you prepare to pitch to investors? What is a cap table? There are a lot of things to learn. I think it’s just a continuous journey of learning over and over again. That’s a constant of being an entrepreneur and being a CEO.”

    Related: Inside Potbelly’s Recipe for Fast Casual Success

    DayDayCook’s IPO

    “The listing journey itself was an exceptional experience. It challenged my mental toughness in terms of navigating all these different obstacles and staying level-headed and being able to map out the right strategy going forward. It was a rollercoaster. But after accomplishing something like this, I look back and realize it made me stronger and more prepared to become CEO of a listed company. And also I think the entire team just became stronger. You really need to come together to pull off a successful IPO and we did it.”

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    William Salvi

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  • Make Money Doing What You Love — How to Monetize Your Passion | Entrepreneur

    Make Money Doing What You Love — How to Monetize Your Passion | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a world where the pursuit of passion has become synonymous with living a fulfilling life, many find themselves at a crossroads, unsure of what truly ignites their inner fire. Finding your passion isn’t just about discovering a hobby or a career path; it’s about uncovering what makes you feel alive, gives your life purpose and aligns with your authentic self.

    This journey of discovery can be transformative, leading not only to personal fulfillment but also to potential career satisfaction and happiness. Here’s how you can embark on this journey and find your passion in life.

    Related: 5 Leaders Share 5 Ways to Find Your Passion

    Discovering your true passion

    Reflect on what you love:

    Start by reflecting on activities, topics or causes that you love or have always been drawn to. Think about the times you’ve felt most alive or lost track of time because you were so engrossed in an activity. These moments can offer clues to your passions. Don’t limit yourself to conventional ideas of what a passion should be. Your passion could be anything from painting to solving complex mathematical problems.

    Explore new interests:

    Exploration is key to uncovering your passion. Try new activities, enroll in different classes, read books outside your usual interests, and step outside your comfort zone. This process of exploration can help you discover hidden talents or interests you never knew you had. Remember, it’s okay to try something and decide it’s not for you; each experience brings you closer to finding what truly excites you.

    Identify your values:

    Your passion is often closely tied to your core values and what you find meaningful in life. Identifying these values can help you pinpoint areas that are likely to hold your passion. For example, if you value helping others, you might find passion in teaching, counseling or volunteering. Make a list of your top values, and consider activities that align with them.

    Seek feedback:

    Sometimes, others can see our strengths and interests more clearly than we can. Ask friends, family and colleagues what they think you’re good at or what they could see you doing. Their observations can provide valuable insights and help you see patterns or interests you might have overlooked.

    Look for patterns:

    Reflect on your past experiences, and look for patterns in the activities you’ve enjoyed or excelled at. These patterns can be indicators of your passion. For example, if you’ve always enjoyed organizing events and bringing people together, your passion might lie in community building or event planning.

    Embrace the journey:

    Finding your passion is a journey, not a destination. It requires patience, curiosity and an open mind. Be willing to experiment, fail and learn from your experiences. Each step on this journey is an opportunity for growth and self-discovery.

    Consider professional help:

    If you’re struggling to find your passion, consider seeking the help of a career counselor or life coach. These professionals can offer guidance, tools and strategies to help you identify your interests, values and potential career paths.

    Combine your skills and interests:

    Your passion might not be a single activity or field. Many people find their passion at the intersection of various interests and skills. Think about how you can combine different aspects of your interests and skills to create a unique niche or career path for yourself.

    Set realistic goals:

    Once you have an idea of what your passion might be, set small, achievable goals to pursue it further. Whether it’s taking a course, starting a side project or dedicating time each week to practice, these goals can help you make steady progress towards integrating your passion into your life.

    Stay flexible:

    Your passion can evolve over time, and what excites you today might change in the future. Stay open to this evolution and be willing to adapt. The key is to remain true to yourself and pursue what makes you feel fulfilled at any given time.

    Finding your passion is a deeply personal and rewarding journey that can enhance your sense of purpose and joy in life. By exploring your interests, values and experiences, you can uncover what truly makes you tick and find ways to incorporate that passion into your daily life.

    Remember, the pursuit of passion is not a one-size-fits-all path but a unique adventure that is yours to explore. Embrace the journey with an open heart and mind, and let your passion lead you to a more fulfilling and meaningful life.

    Related: How to Realistically Make Money From Your Passion

    Unlocking wealth: 10 tips on monetizing your passion

    In today’s dynamic world, pursuing your passion is no longer just a lofty dream; it’s a viable path to financial success. With the advent of the digital age, opportunities to monetize what you love doing have multiplied, enabling many to turn their hobbies into profitable ventures. Here are ten strategic tips to help you navigate the journey of making money from your passion.

    1. Identify your niche

    The first step in monetizing your passion is to clearly identify your niche. A niche is a specific segment of a market that you can serve better than others. The more specific your niche, the less competition you will face, and the more likely you are to stand out to a dedicated customer base. For instance, instead of just “cooking,” you could specialize in “gluten-free baking for busy parents.” This specificity can make your offering more attractive.

    2. Build a strong brand

    Your brand is not just your logo or your website; it’s the total experience customers have with your business. It includes your story, your values and the emotions people associate with your work. Building a strong, authentic brand around your passion can create a loyal community of customers and advocates. Share your journey, challenges and successes to connect with your audience on a personal level.

    3. Create a business plan

    Even the most passionate pursuits need a solid business plan. Your plan should outline your business model, market analysis, financial projections and marketing strategies. It doesn’t have to be overly complicated, but it should give you a clear roadmap of how you intend to make money from your passion. This step can also help you identify potential challenges and opportunities for growth.

    4. Leverage social media

    Social media is a powerful tool for reaching and engaging with your target audience. Platforms like Instagram, YouTube and Pinterest are particularly effective for visual and creative fields, while LinkedIn and X can be great for more professional and service-oriented passions. Share valuable content that showcases your expertise, tells your story and builds your community.

    5. Diversify your income streams

    Relying on a single income stream can be risky, especially in the early stages of your business. Look for ways to diversify your income. This could mean selling products, offering services, creating online courses or even affiliate marketing. For example, if you’re passionate about photography, you could sell prints, offer photography workshops and create a photography course.

    6. Offer exceptional value

    To stand out in a crowded market, you need to offer exceptional value to your customers. This could be through the quality of your products, the uniqueness of your services or the depth of your knowledge. Always aim to exceed expectations and provide something that people can’t get anywhere else.

    7. Network and collaborate

    Networking and collaboration can open up new opportunities to monetize your passion. Attend industry events, join online communities, and connect with other professionals in your field. Collaborations can also help you reach a wider audience, whether it’s through guest blogging, social media takeovers or co-creating products.

    8. Learn and adapt

    The path to monetizing your passion is rarely a straight line. Be prepared to learn from your experiences, listen to feedback and adapt your strategies as needed. Stay updated with the latest trends in your industry, and don’t be afraid to pivot your business model if necessary.

    9. Focus on quality customer service

    Excellent customer service can differentiate your business and turn customers into repeat buyers and brand advocates. Be responsive, solve problems quickly, and always strive to provide a positive experience. Personal touches, such as handwritten thank-you notes or personalized recommendations, can make a big difference.

    10. Stay passionate and persistent

    Finally, the most important tip is to stay passionate and persistent. Turning your passion into a profitable venture requires hard work, dedication and resilience. There will be challenges and setbacks, but it’s your passion that will keep you going. Remember why you started, and don’t lose sight of your love for what you do.

    Related: How to Turn Your Passion Into Your Dream Job

    Monetizing your passion is not just about making money; it’s about creating a fulfilling life where work doesn’t feel like work. By following these ten tips, you can take practical steps toward turning your passion into a sustainable income source. Remember, the journey of monetizing your passion is as rewarding as the destination. Embrace the process, learn from every experience, and celebrate your progress. Do not chase the money. Instead, chase your passion and the side effect will be money in your bank account because it only appears as the direct result of an energy exchange. Here’s to turning your passion into your paycheck!

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    Billy Carson

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  • M1 CEO Brian Barnes on Creating a Fintech Platform Built to Last | Entrepreneur

    M1 CEO Brian Barnes on Creating a Fintech Platform Built to Last | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We’ve been visiting the headquarters of some of the most innovative and imaginative leaders in business for The CEO Series, learning what it takes to launch and grow a thriving brand. For this episode, our crew went to the office of M1, a fintech platform that bills itself as “the finance super app.” The powerful online investing and banking platform has raised $315 million at a valuation of about $1.5 billion and manages about $8 billion for half a million customers. I sat down with founder and CEO Brian Barnes to learn all about the platform, how it was created, and his advice to founders on running a company built to last.

    Below are some highlights of our conversation, which have been edited for length and clarity. You can watch the full video above.

    The thrill of investing

    “M1 is a personal finance platform. We started the company about eight and a half years ago. We now manage about $8 billion on the platform for half a million customers. And we are really just trying to create the best possible way for someone to manage their finances. And we do that with a lot of personalization, customization, and automation. I was fortunate to be introduced to finance at a pretty young age and I was immediately hooked. I love the idea of investing, of trying to find out what a company’s worth and how it’s operating in a complex world. As an investor, you’re making a high-conviction bet. If you’re right, you make money. If you’re wrong, you lose money. And so, you know, some people like sports gambling. For me, it is what is a company going to be worth in the next five or ten years.”

    Related: The CEO of Catholic Prayer and Meditation App Hallow Says Founders Need to Be Part of Something Bigger Than Themselves

    Doing business in good times and bad

    “We want to create a financial institution that lasts for decades. There are companies out there that have lasted for centuries. If you are around for that period of time, it’s unquestionable that you’re going to have these massive disruptions in the overall market. And so we have been trying to build the organization so that we can survive in any macro environment and not just be tailor-made for one.”

    Calm in the storm

    “I try to stay calm — on the outside. [Laughs] The entrepreneurship quote I love is that the highs are high, the lows are low and they’re ten minutes apart. There are times when you think you’re taking over the world. And then there are times where you’re like, What the hell am I doing? I took all this money, I convinced people to quit their jobs and join me, I’m competing against the Schwabs of the world. But stewing in all of that stress accomplishes nothing. I think maintaining my emotions and figuring out how I can allocate my time productively has been a good attribute that I’ve had as I’ve built the organization.”

    Related: How Personal Passions Fuel Business Success for the CEO of Vivid Seats

    The life of a founder

    “Being a founder of a tech company is more than just being a CEO. You’re both the most senior and most junior person at the company. You get to set direction and strategy and things like that, but in any area where there is not someone dedicated to that role? It’s on you to fill the gap. I would say I played CEO from 8 a.m. to 11 a.m. And then I played junior analyst from 11 a.m. to midnight every night. You’re just running around and trying to add value where you can. As you grow, you’d love to put things on pause while you figure out how to scale your team. But that’s not how it works — you’ve got to scale your team and build a product and acquire customers at the same time. There’s a little bit of chaos, but you have to sort of thrive in the chaos.”

    Related: Inside Potbelly’s Recipe for Fast Casual Success

    Legacy of leadership

    “My mom Brenda Barnes was CEO of PepsiCo and Sarah Lee. I mean, that’s a great person to learn from. She was one of seven sisters. They all shared a bedroom. They were a Polish immigrant family in Chicago. Her father was a factory worker. And so, I think she always had an insanely healthy respect for people who did the actual work at her companies. The people who bottled the cola, who loaded the delivery trucks. As a CEO, you need to respect that they know their job better than you. And the leader’s job is to set an example for what you want the values across the company to be. If you could write down all the positive attributes and values that you would want instilled throughout the company, then you better exhibit those things.”

    Check out more profiles of innovative and impactful leaders by visiting The CEO Series archives.

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    William Salvi

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  • Hallow CEO Says Founders Need to Be Part of Something Bigger Than Themselves | Entrepreneur

    Hallow CEO Says Founders Need to Be Part of Something Bigger Than Themselves | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Hallow is the number one Catholic prayer and meditation app in the world with over 12 million downloads. And after a surge in downloads following its Super Bowl ad, it took the top spot on Apple’s App Store across all apps.

    The company has raised a total of $105 million to date, thanks, in large part, to the blood, sweat, and tears of co-founder and CEO Alex Jones. On this episode of The CEO Series, we visited Hallow’s headquarters to speak with Jones about all things business, leadership, and faith. Below are some highlights from that powerful conversation which have been edited for length and clarity.

    Related: With Over $120 Million in Sales, Dude Wipes Is No Joke. Here’s How the Company’s Chief Executive Dude Keeps Things Fun and Profitable.

    Divine inspiration

    “Hallow is a prayer and meditation app for anybody looking to grow closer to God. Its origin goes back to my faith journey. I was raised Catholic but fell away from my faith in high school and college. After I graduated, I got really into meditation. I found these apps that had just launched, Headspace and Calm, and I started using them every day and I loved them. But every time I would meditate, my mind would oddly feel pulled towards something spiritual, like an image of the cross. So I started reaching out to priests, pastors, and folks I knew from Notre Dame and asked what I thought was a really interesting question: Is there any way that there’s some sort of intersection between this faith thing and this meditation thing? And they pretty much all laughed at me and said, “Yeah, we’ve been doing it for 2000 years. It’s called prayer!” And that changed my life. I knew I needed to do this. I knew how to code a little bit so we built the first version and went from there. The app has helped me grow tremendously in my own spirituality, which has been phenomenal.”

    Something bigger than themselves

    “My cousin passed away when he was 45. He died in his sleep randomly. He had just gotten married and his wife was pregnant with their first kid. His mom, who is my aunt, was obviously heartbroken. We had just launched the app and she sent us a note that I have saved to this day. It said, ‘I honestly didn’t think I’d be able to make it through my first Christmas without my son and I just want you to know that these little meditations on the app are the only thing that’s reminded me that I’m able to have hope and that I’m able to get out bed and carry on in this deep time of a pain.’ And I just like broke down crying on the floor in my tiny little studio apartment.”

    Related: ‘Becoming a Unicorn Is Really Just the Beginning’ Leadership Lessons From Tech CEO Godard Abel

    The challenges of fundraising

    “The fundraising thing is super stressful for any CEO because it is crazy hard, especially in today’s world. When you do the seed round, you have no real numbers to speak of. It’s just your own story. And people are just judging you and you’re questioning yourself. Do they like our concept? Are you sitting up straight enough? Are you looking in the eyes? Do I like this guy? I had roughly 80 meetings in the first two weeks, just pitching constantly. I remember I went back to my studio apartment after hearing no after no — people basically telling me that the core of who I am is stupid and this idea is never going to work. It was so heavy. I was so stressed. My heart was in pain. My back had all these knots in it. I started praying and I said, ‘God, look, this is too much. I can’t do this. I’m done. I can’t take this weight.’ And then I was like, ‘I’m gonna make a deal with you. I promise if this thing works out, you’re always gonna get the credit. I’m never gonna trick myself into thinking I’m some successful startup CEO who figured all this stuff out. It was all you.’ That massive weight immediately lifted and the next day we went for a pitch meeting at a coffee shop with this guy and he gave us a term sheet. And we then get like three, four more the next day. It was just God being like, ‘Just wait.’ I just needed to surrender.”

    Advice to founders

    “You have to find something bigger than yourself. You have to, there’s no choice.”

    Check out more profiles of innovative and impactful leaders by visiting The CEO Series archives.

    Related: Inside Potbelly’s Recipe for Fast Casual Success

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    William Salvi

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  • Jon Taffer From ‘Bar Rescue’ Shares His 10% Productivity Hack | Entrepreneur

    Jon Taffer From ‘Bar Rescue’ Shares His 10% Productivity Hack | Entrepreneur

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    Okay, Jon Taffer fans, it’s time to pour yourself a big cocktail. Bar Rescue is back, so let the shouting — er, we mean “spirited encouragement” — begin!

    Premiering Sunday, February 25 at 10 p.m. ET on Paramount Network, everyone’s favorite hospitality pitbull is hitting bars across the country to help struggling business owners and staffers get their acts together before their doors close for good. And in a new twist this season, Taffer has enlisted an all-star roster of nightlife, bar and restaurant experts, including actor Danny Trejo and Las Vegas nightspot guru Dustin Drai, to bring even more heat to these troubled kitchens.

    Related: Can Jon Taffer Fix Franchise Restaurants?

    Entrepreneur spoke with the outspoken motivator and business mastermind after he completed filming his incredible 250th episode to get his take on what’s new in the bar biz (Are you ready for a robot bartender?) and to find out what gets him so damn fired up every time he steps inside a bar in desperate need of rescue (hint: it has more to do with families than booze.) Here are some highlights of that conversation, which have been edited for length and clarity.

    Would you like some AI with your fries?

    “When I go to conventions and restaurant shows, everything is about robotics and AI as a solution for the human labor that owners are having so much trouble hiring for,” Taffer says. “I think many restaurants in the next five to seven years are going to be quite robotic — from ordering to delivery to preparation. AI is already used extensively for the back of the house — interpreting data, identifying trends and doing all that kind of work — but I think we’re going to start to see a good amount in the front of the house as well. For instance, ordering on a tablet that interacts with you conversationally. ‘What are you in the mood for? You might enjoy this.’ Robots are already working fryers and flipping burgers, and that’s sure to increase. And the interesting thing about robotics is it takes variable costs, and it makes them fixed. I have a fixed equipment cost; I have a fixed maintenance cost, so it alleviates some of the surprises that come up in the industry.”

    Related: Bar Rescue‘s Jon Taffer ‘This One Thing Makes a Great Leader’

    But humans aren’t done just yet

    “Robotics and AI will certainly help in the back of the house, but great restaurants are about connectivity,” Taffer continues. “Customers don’t connect with a tablet; they connect with great waiters and chefs and owners. At Taffer’s Tavern, we’re very high-tech in the back of the house, but there is no tech in the front of the house. We designed a concept to protect that connectivity. And something to think about is that there are three types of menus. The spontaneous menu is where you stop and grab a hotdog just because it smells good. The convenience menu is the restaurant that’s in the lobby of your office building. Not the best food in the world, but it’s easy and it’s convenient. And then there’s the destination menu, where you travel to a specific location. Those first two menus are going to really embrace and benefit from robotics.”

    Making an impact with Bar Rescue

    “Purdue University did a study of restaurant reality shows like ours, Kitchen Nightmares and Restaurant Impossible, and it assessed the success ratio of each. Bar Rescue doubled every other show in terms of success ratio,” Taffer says. “And that means a lot to me because behind these establishments are people. These bar owners are paying mortgages and taking care of their families. So success for a bar means that we’re helping put kids through college. We are really making a positive difference in people’s lives.”

    The benefits of helping others

    “Years ago, I opened my restaurant, Alamo Grill, in the Mall of America,” Taffer says. “We were opening our second restaurant in Kansas City, and I needed to pick a training team. So I pick a prep cook, a line cook, a server and a host. We put the team together, and we go on the road. There was a dishwasher named Theo, who was a local kid. The prep cook quit, so I moved Theo into the position, and he was just great. We’re in Kansas City having a big meeting with 80 new employees, and each of the trainers introduces themselves. And Theo is there in a suit. He walks up to the podium and says, ‘Six months ago, I was a dishwasher, and look at me today.’ Man, that was a powerful moment for me. I was more proud than he was! It was a moment of real gratification for me, and when you experience something in life that is so gratifying, you seek more of it.”

    Related: Bar Rescue‘s Jon Taffer: ‘Reaction Management’ Is the Key to Your Success

    The 10% rule

    “On Bar Rescue, we do everything in four days, including assessing the business, remodeling, rebranding, redoing the logos, the food, the beverages product, the interior, the training — everything. In four days!” Taffer says. “When I talk to big corporations, I always ask, ‘What the hell takes you guys so long to do anything?’ So I say to everybody reading this that there is not one project, there is not one process, there is not one objective in your life that you cannot accelerate by at least 10 percent. That includes the number of phone calls you make, the number of contacts you make, the number of places that you go, the speed you write something — do it just 10% quicker, and it will dramatically increase your productivity and your time resources. That 10% can change your life.”

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    Dan Bova

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  • 3 Values That Empower Entrepreneurs Just Starting Their Journey | Entrepreneur

    3 Values That Empower Entrepreneurs Just Starting Their Journey | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Launching a new venture from the ground up can be a thrilling process. Selecting your first workplace, narrowing down your business model and defining a clear action plan are all common exciting experiences that entrepreneurs go through. But even these first steps can present challenges to surpass.

    My first startup was an internet company called Joyo.com, which I co-founded in late 1999. This was in the early days when the internet was still very young and full of undiscovered potential. Joyo’s first three months saw many fierce debates within my team as we struggled to agree on what we wanted our startup to achieve — with so many possibilities available in the internet space at that time, from e-commerce and web portals to travel sites and games, it was tough to decide on the best course of action.

    In such moments, a founder needs to trust in their ability to make hard decisions and stick to them. This kind of steadfast resilience can help guide entrepreneurs through the early stages of a company. So, I finally decided to build Joyo.com as China’s first B2C e-commerce platform at the end of February 2000. Joyo became the largest such site in China at the time and was acquired by Amazon in 2004 and rebranded as Amazon China.

    Related: How to Tap into the U.S. Social Commerce Market Through Millennials and Gen Z

    My second venture, DHgate, was a much more arduous challenge. As China’s first B2B e-commerce platform, it was extremely difficult to prove our business model and attract investment. I discovered how truly cold and heartless the business world can be when we almost ran out of funds just before we launched in 2004. An investor who had signed a contract to fund us suddenly reneged on his promise in the eleventh hour, which meant that I had to turn to my own savings to pay the remaining employees at DHgate, never knowing if that week might be our last.

    Without sufficient funds, we surrendered the office and moved to a 20sqm conference room next to the toilet of a friend’s company. My office chair was broken, but my hope was strong. I was able to find a way to stay focused on the positives and possibilities. Most importantly, I looked inward for strength and confidence in my business.

    Beyond a lack of funding, the biggest problem we faced in the early days was that nobody trusted us. This was back in the mid-2000s when traditional trade was still booming. Nobody believed the entire complex process of international trade could be achieved online. Validating our business model was like running a marathon — a long and challenging ordeal.

    Most entrepreneurs experience win-or-go-home moments like these. Mentally, the early stages can be the most difficult period of building a company. Yet, we persevered, and today DHgate is one of the world’s leading B2B cross-border e-commerce platforms.

    Related: Core Values: What They Are, Why They’re Important, and How to Implement Them Today

    The hardest challenges give the greatest rewards

    Keeping a young company afloat is a daily struggle. Challenges and obstacles come from all directions — you may have to deal with limited access to capital, an undersized and overstretched team, a lack of market recognition in a possibly overcrowded market, and a lack of mass understanding around the business or technology, among other factors.

    Your staff and investors all have lofty expectations, and you must also set high standards for yourself. Maintaining high motivation and energy in the office is a constant challenge, especially when everyone knows you’re feeling exhausted and anxious. This builds an incredible amount of pressure and stress, which rides on the shoulders of founders who already battle self-doubt daily.

    Yet, running your own business can also be incredibly rewarding. Every entrepreneurial journey has its ups and downs; if you can find the right path and persevere through obstacles, you can achieve things that nobody has ever done before, and your efforts can pay off a hundred-fold. These growing pains are worth it for your own personal development, too.

    Related: The 8 Biggest Challenges for New Entrepreneurs

    Strong founders who make it through the initial stages of entrepreneurship tend to have certain key characteristics. New founders may benefit from embracing these three key values or standards to hold themselves to:

    1. Talk to your heart to follow your passions

    Your founding journey will be made all the easier when you are following a dream that you are truly passionate about. As a bonus, you’ll be able to make your team more passionate, too. When facing difficult decisions, talk to your heart for guidance. I have done this many times in my life to help me choose a path that excites my imagination and keeps my interest.

    2. Be brave and dare to do difficult things

    If you listen to your heart, you will hear an answer, and your next course of action will become clear. So, take action! Start looking for opportunities, and you will find them — it is practically inevitable if you look hard enough. As long as you know what your goal is, it doesn’t matter if you don’t see the path from the start. The important thing is to start walking down that road.

    Related: The Top 5 Reasons Why Entrepreneurship is Difficult (and How to Overcome Them)

    3. Be persistent

    Eventually, you will stumble on your path. Everybody does. The key is to celebrate your failures, learn from them and keep moving on. Persistence just requires you to keep showing up daily to pursue your goals. If you listen to your heart and follow your passions, optimism, and confidence in your projects, come much easier. It may sound cliché, but I believe that while it’s not magic at first, steadfast persistence in any goal can create magic.

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    Diane Wang

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  • How to Empower Yourself to Unlock Your Full Potential | Entrepreneur

    How to Empower Yourself to Unlock Your Full Potential | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    “Empowerment is the key to unlocking potential.”

    So says David Nurse, a former NBA player who is now a life and optimization coach and motivational speaker. By empowering oneself with a clear vision and belief in one’s abilities, he believes that individuals can tap into their full potential.

    Nurse encourages individuals to identify their strengths, set specific goals, and take action toward achieving them. Empowerment is the catalyst that propels individuals forward, enabling them to overcome obstacles and reach new heights.

    Related: How This Trainer for NBA Players Mastered the Pivot

    Confidence Breeds Success

    Confidence plays a pivotal role in achieving success. Nurse highlights the importance of cultivating self-confidence by surrounding oneself with positive influences and eliminating self-doubt. By believing in one’s abilities and staying focused on the end goal, individuals can overcome challenges and persevere in the face of adversity. Confidence is the fuel that drives individuals toward their aspirations, enabling them to take risks and seize opportunities.

    Related: 50 Inspirational Quotes to Motivate You for 2024

    Building Authentic Relationships is Essential

    Nurse emphasizes the value of building authentic relationships as a key component of success. Networking should not be seen as a transactional exchange, but rather as an opportunity to connect with others on a deeper level. By genuinely serving others and building meaningful connections, individuals can create a network of support and collaboration. Authentic relationships provide a foundation for growth, opening doors to new opportunities and fostering a sense of community.

    Hard Work and Dedication are Non-Negotiables

    Nurse’s journey from basketball player to motivational speaker underscores the importance of hard work and dedication. Success does not come overnight; it requires consistent effort and a willingness to put in the work. Nurse encourages individuals to embrace the grind, stay committed to their goals, and continuously seek personal growth. Hard work and dedication are the building blocks of success, enabling individuals to surpass their own expectations and achieve greatness.

    Related: 20 Motivational Quotes to Inspire Your Next Business Idea

    David Nurse’s journey from professional basketball player to motivational speaker offers valuable insights into the path to success. Through empowerment, goal-setting, confidence, and building authentic relationships, individuals can unlock their potential and achieve their aspirations. By embracing hard work, dedication, and continuous growth, individuals can navigate the challenges along the way and find fulfillment in helping others succeed. As we embark on our own journeys, let us remember the importance of empowerment, goal-setting, confidence, relationships, and the relentless pursuit of success.

    About The Jeff Fenster Show

    Serial entrepreneur Jeff Fenster embarks on an extraordinary journey every week, delving into the stories of exceptional individuals who have defied the norms and blazed their own trails to achieve extraordinary success.

    Subscribe to The Jeff Fenster Show: Entrepreneur | Apple | Spotify | Google | Pandora

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    Jeff Fenster

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  • Insights From a Tech CEO on Building a Billion-Dollar Business | Entrepreneur

    Insights From a Tech CEO on Building a Billion-Dollar Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    I’m on a mission to meet and pick the brains of some of the most successful and innovative leaders in business. On this episode of The CEO Series, we went to the headquarters of G2 in Chicago, a software marketplace and review platform that has raised $257 million at a valuation of over a billion dollars, which makes them a unicorn.

    Godard Abel, G2’s co-founder and CEO, sat down with me to share his perspective and philosophy on leadership — what it takes to manage the health of the business, engagement of employees, expectations of stakeholders and so much more.

    Related: Inside Potbelly’s Recipe for Fast Casual Success

    Abel previously built cloud CPQ pioneers BigMachines (which was acquired by Oracle) and SteelBrick (which was acquired by Salesforce) so his insights are invaluable to anyone hoping to launch and go big. Below are some highlights from our conversation, which have been edited for length and clarity. Watch the full video above.

    The realities of achieving a unicorn status

    “It was an amazing milestone. We had an amazing party. I loved becoming a unicorn. But then you wake up the next day, and you’re committed to giving at least three times that back to your investors. We raised $157 million that first round, so really we have to give them about $500 million back. So it’s a big commitment as a founder and CEO. It’s really the beginning of your next journey that hopefully ends with a successful public offering that gives those investors at least three times their money back — hopefully much more. But it’s many years of work to get to that next peak. It feels great, but it’s also a commitment to getting to that next peak.”

    Related: With Over $120 Million in Sales, Dude Wipes Is No Joke. Here’s How the Company’s Chief Executive Dude Keeps Things Fun and Profitable.

    His entrepreneurial beginnings

    “My first business was in high school. I grew up in Pittsburgh, Pennsylvania. It was called Ultimate Car Care and I started with my best friend at the time, Joe. His dad had a nice red Corvette. We had prom coming up, so we took a picture in nice tuxedos in front of this Corvette. We wanted to do detailing for fancy cars, so we used the photo to make fliers with our phone number on it and that’s how we launched. I was born in Germany into a family of entrepreneurs. My father took over a family business from my grandfather who I always admired. My grandfather started the company in Germany in 1947, two years after WWII. He did it in the industrial part of Northwest Germany, which had gotten bombed to rubble. And I always think about that when I am facing struggles. I think wow, it’s nothing like those struggles.”

    Related: Avoid These 3 Key Mistakes for Team Success in 2024

    What drives him

    “I think almost all entrepreneurs go through failure. Usually, you struggle for years. For almost every successful entrepreneur I meet, it comes down to this: don’t quit, keep going. And that also applies after you’ve begun to find success. We talk about our ‘peak culture’ at G2. I do think we’re meant as humans to be climbing peaks. And so in that sense, I never want to stop climbing. I’ve had good breaks and I probably could retire and just sit on the beach. But I don’t believe I would feel gratified. And frankly, I don’t think any human would. I think we’re meant to strive, we’re meant to climb, we’re meant to have a purpose. And I think entrepreneurship really gives that to me.”

    Check out more profiles of innovative and impactful leaders by visiting The CEO Series archives.

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    William Salvi

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  • How to Streamline Your Digital Ecosystem | Entrepreneur

    How to Streamline Your Digital Ecosystem | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    I vividly remember when Microsoft rolled out Windows 95. Designed to actually look like a desktop, with icons for the Recycle Bin, Briefcase, Inbox and other functions, it felt revolutionary, a boon for productivity as well as operations and logistics, and above all, user-friendly. And that innovation was market-proven: Microsoft product designer at the time, Juliette Weiss, noted in a 2017 article for Medium, “It was the most heavily user-tested product in [the company’s] history.”

    In those days, it made sense to treat a computer workspace more or less like your home or office desktop — to regularly clean and organize it just as you would its physical facsimile. But today, with cloud computing and an endless number of automated tools and apps, the digital/physical workspace analogy doesn’t quite hold up. Organizing your 21st-century ecosystem isn’t just a matter of implementing a smart filing system, but about choosing the right tools and building intuitive systems, then continually refining and updating them. Harvard Business Review summed it up well in an article published more than a decade ago: “Our job today and tomorrow,” it read in part, “isn’t to organize ourselves better; it’s to get the right technologies that respond to our personal productivity needs.”

    At Jotform, my team and I rely on a multitude of tools and platforms for personal work and collaboration and streamlining them has helped us to reduce friction, increase output and both grow and scale without a dime of outside funding.

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    Aytekin Tank

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  • Entrepreneurship Can Be Draining — Try This to Restore the Joy. | Entrepreneur

    Entrepreneurship Can Be Draining — Try This to Restore the Joy. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    CEOs feel the weight of every decision they ever made — not to mention every dire prediction about their business. It’s important to discern when it’s time to help with the heavy lifting and when you need to take a step back and reflect. Executives can balance the scales using these three key strategies to achieve balance, all the while increasing productivity in their company and for themselves.

    1. Learn when to surrender

    How many times have you tried to solve a problem only to discover a dozen more problems stemming from the first one? Or had a decision you made turn out to do more harm than good? Those are the times when most people push the hardest, determined to gain victory. It’s important to consider the cost when you maintain this relentless attitude. What is being sacrificed? Have you analyzed all the factors and possible breaking points, or are you the type of person who wants to achieve the goal at any price?

    Surrender is an art, but it is a vital tool you can use at any time when you see that applying force in a situation is going to end in collateral damage. I have to press the “surrender button” often. I’m legally blind. I rely on my team members as the eyes, ears, legs and hands of the company. As a result, I use my brain all day — my imagination is on fire anticipating problems, responding to needs, memorizing, making decisions and collaborating. Sometimes the workday is long. But no matter how tempting it is to get everything on your list done, you have to know when to back off.

    A surrender moment might be calling it a day, going to bed early and waking up at 4 a.m. the next morning to read emails or prepare for a meeting. You may find podcasts or audiobooks to decompress with or take 10 minutes to meditate or calm your thoughts with music. These are small, quick moments where you may put off important decisions, meetings or tasks, knowing you will not be giving your best.

    Just when people are demanding that you solve a problem immediately, you are taking five minutes to step back and reflect. Surrendering at the right moment of frustration can often bring a creative solution to the surface of your mind; in fact, giving in to the obstacle instead of trying to force the situation can often save you time.

    Related: Self-Care Isn’t Selfish — It’s Essential for Sustaining High Performance. Here’s How to Avoid Burning Out.

    2. Put yourself in check

    Have you often felt that the push and pull of business has overwhelmed you to exhaustion? Maybe you feel as though you don’t have time to strategize or contemplate your direction because the mere constant on-the-fly decisions and the swirl of problems seem overwhelming. It’s easy to tell yourself you need to change your work-life balance, but many business leaders find this kind of revolution tough to achieve.

    If you are constantly driving and pushing, that is when fatigue can lead to multiple negative outcomes, including a feeling of desperation leading to bad decisions. Not only is this detrimental to your health and well-being, but it can also trigger other negative outcomes for your company. Building in balance and putting yourself in check is vital. It starts with asking hard questions and answering them honestly. Are you lopsided in life? Are you overambitious? Do you need to recharge? How can you best do that? It’s easy to say “no” to spontaneous invitations to let off steam — there’s always more work to be done.

    One way to ensure your work and personal life are balanced is to have an accountability partner. This person should know your strategies for making room for relaxation and quiet as well as a little fun. At the same time, you can begin scheduling commitments aimed at recharging your batteries: Put everything on the calendar, both personal and business, including planned breaks, attending a school play, working out, getting a massage, going for a walk or just dining alone with the phone off in a restaurant you enjoy. You can even schedule a night out with friends, a morning coffee date or a karaoke party. You would then share the schedule with your accountability partner — they should call or text you regularly, asking whether you met your commitment to bring more balance into your life.

    3. Find and set boundaries

    It’s great to know your own boundaries so you can reflect, study and handle yourself in a crisis. However, no matter how your business is set up, you are dealing with other people, too: employees, colleagues and customers. Negotiating with others’ schedules and managing the workflow will require patience. You’ll need to learn when to put your foot on the pedal and when to release.

    Getting to know the strengths and weaknesses of your team members is most important here. What are their peak work hours? Are they morning people, or do they stay up late and work into the night? You’ll need to build in praise, encouragement and even celebration to honor their time, talents and dedication.

    Even if you only employ one or two other people, you’ll need to be aware of personal struggles, triggers, tragic events — like the loss of a family member — or divergent abilities they may be reluctant to reveal to you. Fostering an atmosphere of acceptance and understanding can go a long way toward helping individuals feel comfortable sharing valuable information with you about their lives. You may discover healthy ways to push employees beyond their limitations or fears. On the other hand, you may find that simply being a source of comfort and strength for individual team members is all you can do — and you may have to pull back at times, allowing those who face extreme challenges the time to grieve or heal.

    There are times when a partnership or working relationship has achieved its end. In those times, you’ll have to learn to accept change as part of the cycle of living and be respectful of your own need to let go if a loyal employee or colleague makes a pivot. At those times, you will have the chance to take the high road, wish them well, thank them and leave them with sincere good wishes for their future. At the same time, you can look forward to meeting the next teammate down the road.

    Related: 5 Strategies to Thrive as a Solo Business Owner — Without Burning Out

    Final thoughts

    Learning when to put the pressure on and when to take a step back are equally vital to the success of the team, the original vision of the company and a healthier, happier you. When you build structure into your whole life — surrender, balance and boundaries — you will find the peace you need to navigate all obstacles and restore the joy of being an entrepreneur.

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    Nancy Solari

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  • How to Unlock Transformative Growth By Embracing Uncertainty | Entrepreneur

    How to Unlock Transformative Growth By Embracing Uncertainty | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In the challenging realm of entrepreneurship, change is constant, and uncertainty is expected. It’s not a matter of if, but when, and how you navigate the unknown that defines your journey. Once you learn to accept uncertainty, entrepreneurs and CEOs will discover that it can be a gateway to transformative growth.

    Recognizing the inevitability of uncertainty is a strategic imperative. I have learned that it is not a challenge to overcome; but instead, something to be embraced as a tool for leadership and a catalyst for personal growth.

    As an entrepreneur and capital market expert with over 35 years of experience, I lost almost everything I had built during the Great Recession. It was a period that tested more than my business acumen; it was a profound examination of my resilience and integrity. During that time, the challenges were immense, but in retrospect, the lessons were invaluable. The strategies I learned to employ, the decisions I made and the mindset I cultivated during that tumultuous time continue to be guiding beacons for me in navigating the complexities of today’s business environment. Having been through a time that tested my resilience in business and life, I now understand the intricacies of leading through uncertainty.

    Related: How The Best Executives Show Leadership in Times of Uncertainty

    The inevitability of uncertainty in entrepreneurship

    In today’s business landscape, uncertainty presents itself at every turn. This state of perpetual unpredictability is simply a factor of modern existence in the business world. It is a convergence of factors — technological leaps, global interconnections, economic changes, geopolitical issues and environmental challenges. Together, these factors weave a complex narrative and result in an environment where change is not just a possibility but a constant force that shapes the very fabric of entrepreneurial endeavors.

    Yet, within these uncertainties lies a paradoxical truth — uncertainty, rather than a hindrance, can be a powerful catalyst for innovation and strategic thinking. Uncertainty can be a disruptor of conventional patterns, pushing entrepreneurs beyond their comfort zones and challenging established norms. The very nature of uncertainty demands a continuous reevaluation of strategies, which fosters a culture of adaptive planning and innovation. This can help businesses not just to survive but to thrive in an ever-changing market.

    McKinsey & Company, a beacon of strategic consultancy, echoes the sentiment of embracing uncertainty. Their insights on managing uncertainty in business emphasize the critical importance of preparation for various outcomes. They advocate for a shift toward creative problem-solving approaches and the need for new operating models to respond to extreme uncertainty. Strategic courage, according to McKinsey, is paramount in volatile times, urging organizations to build resilience for an uncertain future. This resonates profoundly with the idea that navigating the uncertainties of today’s business environments necessitates not just traditional strategies but innovative leadership and adaptable approaches.

    Case study in entrepreneurial resilience

    In the tumultuous IPO market of 2023, characterized by fluctuating valuations, tightened access to capital, rising interest rates, bank instability and global geopolitical challenges, several IPOs stood out as beacons of entrepreneurial resilience. One such success story was CAVA Group, Inc. (NYSE: CAVA), a leading U.S.-based restaurant chain that defied the odds and went public in June 2023.

    The IPO of CAVA Group, Inc. exemplifies strategic resilience in uncertain times. Despite the challenging backdrop, the company’s shares experienced a remarkable 37% rise from their initial offering price, signaling not only the market’s strong reception but also confidence in CAVA Group’s business model. Opening at $22 per share and raising $318 million, the IPO closed its first trading day at an impressive $43.78. This success underscores the potential for triumph in a volatile market, highlighting the importance of robust business strategies and adaptability.

    Related: 4 Ways Leaders Can Break Through Uncertainty and Unleash Meaningful Innovation

    How can leaders and entrepreneurs navigate uncertainty in their businesses today?

    Below are some key tips for navigating uncertainty in today’s business landscape.

    1. The power of a support network: The value of a robust support network is unparalleled during challenging times. Insights, emotional support and wisdom from peers, mentors and family form a crucial foundation for successfully navigating uncertainties. A well-established support network offers guidance and solace when it is needed the most, creating a sense of community amid uncertainty.

    2. Valuable lessons from failure: Uncertainty often accompanies failures and setbacks, providing invaluable lessons. These tough moments are educational, teaching resilience, refining problem-solving skills and emphasizing the importance of persistence. Lessons from failure become the building blocks of sustained success and continual personal development.

    3. Managing personal relationships in uncertain times: Navigating uncertain business environments can put a strain on personal relationships. This underscores the importance of maintaining open communication and a healthy work-life balance. Investing time and emotional energy in personal relationships not only strengthens bonds but also contributes to a more balanced and fulfilling life.

    4. Reinvention after setbacks: The journey of self-reinvention following significant setbacks is transformative. It involves reevaluating priorities, setting new objectives and acquiring new skills. Embracing change becomes an avenue for growth, allowing for personal and professional evolution. The ability to reinvent oneself is a potent strategy for thriving in uncertain times.

    As we navigate the complexities of uncertainty, these lessons can provide a transformative perspective. By embracing uncertainty as an opportunity for positive development and growth, individuals can not only weather the challenges but emerge stronger, more resilient and better equipped for the uncertainties that are to be expected as leaders and entrepreneurs. The journey through uncertainty can be a powerful catalyst for personal and professional advancement.

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

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    Peter Goldstein

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  • Inside Dude Wipe’s $120 Million Success Story | Entrepreneur

    Inside Dude Wipe’s $120 Million Success Story | Entrepreneur

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    CEOs carry a lot of weight. They manage businesses, people, expectations of stakeholders, and so much more. What makes these people tick and what does it take to be successful in this role? That’s what I’m on a mission to find out with The CEO Series. I’m heading to the workplaces of inspiring business leaders to learn their personal stories and gain insights into their methods for getting the best out of their employees and themselves.

    Related: Avoid These 3 Key Mistakes for Team Success in 2024

    On this episode, I visited Sean Riley, CEO of Dude Wipes. It’s a really fun brand that has outrageous marketing, but they are no joke. They’re projecting to do over $120 million in sales, and they are disrupting the entire toilet paper industry. Here are some key takeaways from that conversation. Watch the video above to hear everything Sean had to say about the dynamic growth of the powerhouse company.

    On stepping into the role of a CEO

    “Well, the first thing I did was change my title. I call myself the Chief Executive Dude because that’s more fun and that’s more who I am. And that’s what Dude Wipes is supposed to be. Just because you’re a CEO doesn’t mean you can’t be yourself.”

    The surprising truth you learn as a CEO

    “You have to kind of transition to doing less and being there more for people in a supportive way. You have to learn to let things go when you become a CEO, which maybe people don’t realize. They think, ‘Oh, the CEO does it all the stuff. Things keep piling up on their desk and they’ve got to do this, this and that.’ But that’s not what you want to do as the CEO. You want to have great people around you and have them grow and inspire them to do well. Think of Phil Jackson’s journey. You’re not taking the last shot on the court anymore. You’re not the star player. You’re stepping off the court trying to be the Zen Master. You’re trying to make sure that all of the things in all of the different parts of your business work well together.”

    Origin story

    “Our origin story is a fun and authentic one that I think a lot of people can relate to. It was me and my buddies sitting around, wanting to come up with a great business idea. And I put these baby wipes in the apartment and everyone started getting hooked on them. They were so much better than toilet paper and we started to wonder Why doesn’t something like this exist? From there it was all about figuring out how to build a brand that represented who we were at the time. Guys sitting on a couch, eating burritos, drinking beers, Googling everything. making phone calls. Who can make these wipes? How do I incorporate a company? It was just about knocking out one thing after another.”

    On the key to success

    “We made $150,000 our first year, which kind of blew our minds. But it was the emotional reactions we saw from people very early on that gave us more confidence than probably the revenue. When Dude Wipes got into people’s hands, they laughed or they passed them to other people. Making people laugh, and getting them talking was a high that kept pushing us. That belief that this will connect with people is everything. You have to believe day one this will be big. If you don’t, you won’t make it to some of these breakout moments like when we got on Shark Tank. We saw that customers liked it, so we believed we could do all these insane things and disrupt a huge toilet paper industry.”

    Hear more from Sean about running a company with a truly unique culture in the above video. And check out more profiles of innovative and impactful leaders by visiting The CEO Series archives.

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    William Salvi

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  • How Mindful Eating Can Supercharge Dynamic Thinking | Entrepreneur

    How Mindful Eating Can Supercharge Dynamic Thinking | Entrepreneur

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    Entrepreneurs are ever in search of ways of reducing the number of decisions they make, in part to save brain space for the “big stuff.” Some thought leaders pare down their wardrobe to a standard look (à la Steve Jobs), for example, while others optimize (and not necessarily healthfully) by eating the same thing every day.

    A novel take on this efficiency principle came in the form of a Bay Area company that marketed a product called Soylent in 2013. Tired of wasting money and energy on food, one of its founders, Rob Rhinehart, invented a “super sludge” intended to supply the body’s essential nutrients — a mixture of maltodextrin, amino acids, fiber, olive oil and other ingredients. According to a journalist from Wired, that original formula looked like pancake mix and tasted like chalk.

    After reading that article, I could grasp why the concept could be regarded as potentially dystopian (its name inspiration, after all, a 1973 movie in which humans are forced to consume reprocessed human corpses), but Soylent is still going strong. The company, now based in Los Angeles, continues to grow and innovate (now offering tastier options like chocolate and strawberry). Its success supports the notion that busy professionals will spring for convenience when it comes to their appetites.

    I’m a big proponent of simplifying as many tasks as possible. And while no stranger to the occasional lunch-replacement smoothie, I’m not sold on outsourcing meals entirely. Luckily, for food-loving entrepreneurs, there are creative benefits to thinking more about and diversifying what and how we eat.

    Related: 7 Tips for Startup Food Entrepreneurs

    Ingredients for creativity

    As something of a counterpoint to Rhinehart-esque food practicality, a 2021 literature review written by a team of researchers and academicians offered evidence to suggest that people with a view of food as simply fuel miss out on the creative benefits of eating more mindfully. Engaging multiple senses during a meal (taste, smell, tactile qualities, etc.), they wrote, can boost creative thinking in various ways, and offered the experience of wine as an example: Those who enjoy it think about taste, smell, color and mouthfeel, and might come up with descriptive metaphors for each. Creative wheels start turning. It follows that engaging with food by paying attention to analogous qualities (and any metaphorical associations) may likewise boost inventiveness.

    The authors also made a case for eating foods that result in genuine enjoyment. Creativity is enhanced, they suggest, when people feel happy, including being relaxed or moderately excited. So, to borrow a phrase from author Marie Kondo, consider foods that spark joy when you eat them. Maybe it’s your partner’s famous lasagna (which gets even better the next day as leftovers), a burrito from a favorite food truck or a big, colorful salad.

    Eating something delicious and taking the time to appreciate it can prime the brain for exploration. Better yet, certain foods can actually boost the brain’s power.

    Related: Your Poor Eating Habits Are Hurting Business

    Nutrition that sharpens the mind

    The first rule of thumb for choosing meals that give rise to sharp thinking is to think about them beforehand: to make choices before you’re ravenous. Various studies make plain that humans are far better at resisting salt, calories and fat in the future than in the present.

    Glucose, a type of sugar, is the main energy source for the body’s cells, and it’s worth keeping in mind that brain cells use the most energy. But when it comes to glucose, not all foods are created equal: Some release theirs quickly, leading to a sudden spike in energy (and an equally fast plummet). Members of this “simple carbohydrates” family include pizza, pasta, bread and sugary drinks. Others, termed “slow carb foods,” release glucose gradually, among them starchy vegetables (sweet potato, squashes, beets), whole grains, beans and legumes.

    Other foods are linked with memory and cognition. Research published in a 2014 edition of the Journal of Psychiatric Research revealed that the amino acid tyrosine (the precursor of the “feel good” hormone, dopamine) enhances cognitive performance, particularly in short-term stressful or cognitively demanding situations. So, load up on seaweed, bananas and almonds. Other research has found that the plant-based omega-3 fat, alpha-linolenic acid, which is abundant in walnuts and flaxseed, likewise improves memory and cognition, as do the antioxidants in berries. Foods high in choline and folate, like eggs, are linked to improved cognitive performance and memory. A 2014 study published in the British Journal for Health Psychiatry found that young adults who ate more fruits and vegetables reported boosted well-being, more intense feelings of curiosity and greater creativity.

    The bad news is that, in the real world, we don’t always have time to prepare balanced meals, but it’s actually a cinch to supplement whatever you’re eating with nutrient-packed options. If I have pizza for lunch, for example, I’ll add a handful of almonds for a snack. If there’s a bagel for breakfast, some olive oil seaweed chips will be added later in the morning. The goal is balance. I also automate snack selection by programming delivery orders ahead of time. That way, when my stomach rumbles, I reach for brain-boosting dried fruits rather than a bag of M&Ms.

    Related: Fueling Your Body is Key to Fueling Your Business

    As CEO of Jotform, and the author of a book on automation, I understand the inclination to optimize as many tasks as possible. If I want to carve out time for important creative work (aka “the big stuff”) and reserve more hours to spend with my family, something has to hit the chopping block. But I also believe in the tangible and intangible benefits of being thoughtful about what I eat — I would rather invest time in identifying and automating busywork than skipping a lunch with colleagues or friends. If you are what you eat, after all, then wouldn’t it simply be wise to make that food high-quality, enjoyable and creative?

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    Aytekin Tank

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  • How to Master Negotiations and Make Winning Deals | Entrepreneur

    How to Master Negotiations and Make Winning Deals | Entrepreneur

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    Over 35 years in business, working across four continents in real estate, finance and tech, I’ve made a lot of deals. Some were easy to close, most were not, and a handful were nearly impossible. But in every case, both sides signed on the dotted line, and that’s what matters.

    Business, after all, is about negotiations. If you’re no good as a negotiator, your company may have a short half-life. But if it’s not one of your strengths right now, don’t give up just yet — good negotiating can be learned.

    Sure, it requires a complex skillset you’re unlikely to pick up in an afternoon, but with time and experience, trial and error, improvement is all but inevitable. I’ve engaged in every possible type of business talks, and over the years I’ve developed a shortlist of optimal negotiating tactics and techniques.

    Related: Game, Set, Match: The Art of Negotiating

    R & P: Research and Preparation

    The first, and perhaps most important, is preparation. Entering negotiations is like going into battle, and no general ever won without assessing his own capabilities and those of his enemy, as well as the terrain, conditions and other factors. Similarly, a negotiator would be foolish to begin talks not knowing his own strengths and weaknesses as well as those of his foe, so doing research and prep is crucial.

    Nail down your objectives and red lines, and estimate, as best you can, what your interlocutor will and will not accept. Dig into the background of your potential partner, and examine the companies involved. How are they doing financially? Any major hurdles or looming events? Might they be looking for something other than money? For your last prep step, put together a fantastic opening offer that could bring the talks to a close just as they begin.

    Build rapport and listen

    Flush with knowledge, you’re ready to engage. Start by establishing a real connection. Assuming you don’t reach a deal straight away, communications throughout the talks will need to be clear and straightforward if progress is to be made, so set a strong foundation by opening with a warm greeting. Speak plainly at the outset so your potential partner trusts that you’re negotiating in good faith, without deception or a hidden agenda.

    Now it’s time to listen. Put your goals on the back burner for a moment, ask useful questions, and focus on fully understanding the responses. On which elements are they focusing? Are you hearing any absolute must-haves? What do they need to avoid?

    Listening shows respect and interest, but be ready and willing to answer their questions as well. Still, the more your interlocutor talks, the more they show their hand. Just remember that sometimes the words they don’t use say as much as those they do.

    Related: 5 Negotiation ‘Don’ts’ That Must Be Avoided

    Stand your ground

    As you wade deeper into the talks, it helps to be hard-nosed. Few businesspeople want a partner who is unwilling to take a stand or shies away from disagreement. Of course, you don’t want to be ornery or unpleasant, but you are going into battle and will likely need to be assertive and stand your ground to make a winning deal.

    One of the places where this is most true is Tel Aviv. Some years ago, I was mildly surprised to find that Israel’s business environment is rife with opportunity, especially when it comes to tech — a field I focus on with private equity firm Anfield Limited. With just 8 million people, Israel has created 100 Nasdaq-listed firms — more than all of Europe.

    Tech represents more than a fifth of GDP, and the World Economic Forum lists Israel as the world’s second-most innovative country. Top chipmaker, Intel, recently made one of its largest-ever global commitments in Israel: $25 billion for a factory in the south. But if you do go, be sure to bring your A-game, as Israeli businesspeople tend to be sharp and unyielding. This means that if you do make a deal, you’ve likely made a wise investment.

    Returning to tactics, if both sides have made initial offers and counter-offers and little progress has been made, it’s time to step outside the box and look at the problem from new angles. What have you not thought of? What might be added or taken off the table to sweeten the deal? Take a break, go for a walk, talk to a smart friend, or get a good night’s sleep — changing perspective often sheds new light.

    It’s getting late

    Finally, the last arrow in my quiver is the hint of a goodbye. It’s unwise to set a hard deadline, as that would be dishonest, and most potential partners would likely see through it. But giving a sense that your patience is wearing thin, that you’re ready to walk away should the deal you’ve envisioned not materialize, has the potential to be a real game-changer.

    Of course, the wise course is to play the long game — to negotiate with patience and build a relationship regardless of the fate of this possible deal. But sometimes the application of pressure can work wonders. Just be sure to choose your words wisely. As King Solomon said: “A word fitly spoken is like apples of gold in a setting of silver.”

    Related: 10 Tips to Negotiate Like a Boss

    Make the deal

    If all of the above fails and you have little desire to walk away empty-handed, there is one last move: Let them win. Some would call it caving. But I’ve found that in many cases, even a deal that is less than financially fantastic for your business in the short term will end up paying dividends down the road.

    That business leader you’ve just made a deal with is no dummy — she knows you’ve done her a solid. And if she understands business, there’s a good chance she’ll pay your good turn back to you in the future. Negotiations, in the end, are really about building relationships.

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    Adnan Zai

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  • How to Network at Events Like a Pro and Watch Your Startup Soar | Entrepreneur

    How to Network at Events Like a Pro and Watch Your Startup Soar | Entrepreneur

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    We, as entrepreneurs, have a goal: to grow a startup — a brand — that impacts many people with our solutions and services. This entails numerous tasks, from building a product, managing and hiring a team, finding investors and establishing a client base. With that in mind, who has the time to network and attend events? And on top of that, do you know why most people hate networking at events? Because they rarely meet relevant people for them, and it often feels like a waste of time.

    Do you know why it feels like a waste of time? Because they never took the time to set their goals for the conference or meetup and define who they came to meet, and instead leave it up to luck or chance.

    I always say that no one teaches us how to network for results, and that’s why I took on the task over a decade ago to build my expertise and run workshops to teach professionals all around the world how to network — and that includes at conferences.

    To help you make the most of your next meet-up or conference, I would like to share some of my top practices. Once you do them, you will surely look at networking events as a source of opportunities rather than a time waster.

    Related: 3 Ways to Get More Business at Networking Events

    1. Remember: Networking is uncomfortable for all of us, not only you

    Why are we so uncomfortable next to strangers at conferences? Once you crack that, you can work the room so much better. I hope this info will make you feel a bit better: Based on public speaking statistics for 2020 from Orai.com research, 77% of the U.S. population feel some anxiety when it comes to public speaking, and 90% report some “shyness.” This means most people who come to the event will feel the same as you do — uncomfortable and insecure. However, in most cases, they will put a “mask” on and won’t show it.

    Various studies and concepts in social psychology and cognitive neuroscience also found that when we meet new people, our brains subconsciously assess whether they like us and whether they pose a threat. It happens in split seconds, and that’s why a positive first impression is so crucial.

    What can you do to connect well with all the people you meet? Be proactive and initiate the conversation instead of waiting for them to do so. Show them that you are open to meeting them through open body language, a smile and a warm look in their eyes. It’s so simple and non-verbal, can make a better experience for both of you and could be the beginning of a great friendship or business partnership.

    2. Set your “people’s goal”

    As said, most people don’t feel networking events work for them because they don’t set a goal for those they want to meet with. Several years ago, a global businessman I followed came to Berlin for a conference while I was there. I sent him a LinkedIn message a few days earlier, stating that I saw he would be in town and expressing my wish to meet with him. We set a time for our meeting, and when I arrived at the conference at that designated time, I met him and left. Mission accomplished — and it was short, precise and time well spent.

    Before going to a conference, check if the topic, speakers and type of participants are people in your industry whom you wish to get to know. Then try to find out who will be there and set a goal of at least two people you must meet at the conference. Make sure you do what is needed to meet them and ensure you won’t leave the room before you do so. Then, by the time you leave the conference, it should feel like time well spent. Don’t forget to follow up after and continue the conversation with those you met.

    Related: The 10 Commandments of Networking

    3. Create your “events squad”

    Usually at conferences, we may know some people from the past, meet new people and even attend with another “wingman/woman.” To meet the people you wish to get to know, you need to be everywhere and see everything. But how? By creating your own “event’s squad” that will increase the chances of getting connected to the right people.

    You can do it with a bit of planning, a lot of goodwill and two stages. It goes like this:

    Stage 1: Every person you meet, whether a new acquaintance or an old friend, at some point in the conversation, ask them: “Who are you interested in meeting at this conference? I might see/know them and can introduce you two.”

    Stage 2: Then, they may ask you the same question. If not, just say: “By the way, I’m looking to connect with people in [sector] if you come across anyone please introduce us.” They usually will say “Yes, sure!”

    Now what? If you get to meet someone they’re looking to meet as well, please introduce them during the event or after. Some of them will do the same for you, and this way, you build a team that thinks of your needs — just as you think of theirs — and increase your chances for relevant introductions during and after the conference. That’s actually what networking is all about: a mutually beneficial relationship that helps each side grow.

    Related: How to Network For Those Who Hate to Network

    In conclusion, mastering the art of networking at conferences is not only about attending events but strategically planning your moves and setting clear goals. By being proactive, initiating conversations and connecting with others, you can transform networking from a perceived time-waster into a powerful tool for professional growth.

    Remember: Everyone at the conference, like you, seeks meaningful connections. With a thoughtful approach, you can make your conference experience truly impactful. Embrace these techniques, and may your future conferences be not just events, but stepping stones toward your professional success and company’s growth.

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    Lirone Glikman

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  • Taylor Swift Strategies Every Tech Leader Should Apply in 2024 | Entrepreneur

    Taylor Swift Strategies Every Tech Leader Should Apply in 2024 | Entrepreneur

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    Some readers, at least, may be relieved to note that they don’t need to be a fan of Taylor Swift to admire her music industry successes. Even a modest glance at the 34-year-old pop icon’s journey reveals masterclass-level business process acumen and strategic planning — to the tune of a $1.1 billion total net worth as of October 2023, according to Bloomberg.

    I can comprehend why one might initially shy from modeling the career of a pop star, but as a person in tech, trust me when I say that she is a true inspiration for entrepreneurs looking to make their mark in a sector that’s just as competitive and ever-changing as music.

    How to remix her strategies into your own:

    Stand firmly for your core values and rights

    Swift took a bold stance against both Spotify’s “freemium” model and Apple Music’s early royalty policy, emphasizing instead artists’ rights. Tech execs, too, can celebrate and advance their core values and rights, even if that means going against our own industry giants. Actions might include advocating for fair practices, speaking and writing pieces that emphasize the importance of data privacy or ensuring equitable compensation for creators on digital platforms. Doing so not only reinforces your brand and its market integrity but also has the capacity to drive significant change.

    Related: Taylor Swift Is Officially a Billionaire — Here’s How She Did It and Where Her Net Worth Comes From

    Master both control and ownership of your innovations

    Swift famously re-recorded her first six albums in order to gain ownership of those new masters — a pioneering move. For folks on the tech side, it’s likewise important to emphasize control and ownership of intellectual property.

    So, secure those patents, maintain control of the source code of your software, and then go ahead and boldly innovate in product design. This degree of ownership has its obvious long-term benefits, but when push comes to shove in any delicate situation, it also serves as a defense against potential takeovers or unfair practices.

    Embrace multiple touchpoints

    Swift excels in both streaming and physical sales, time and time again balancing digital presence and tangible products. Similarly, tech entrepreneurs shouldn’t put all their eggs in one basket but aim for a presence across various platforms. Have you developed a web app? Cool, now create a mobile version, too. Make physical products? Consider offering a digital one that can work alongside them. And yes, this will call for more time, money and resources, but it will also expand market reach and resilience.

    Related: Top CEO of 2023? Taylor Swift and Beyoncé – Here’s Why.

    Own community engagement

    Swift is simply a genius at fan engagement, using social media and personal interactions to build and nurture a community that seems constantly in touch with her in one form or another. And while I’m fully aware that many variables are at play here, tech entrepreneurs can also harness social media, forums and direct feedback channels to connect with users. If you haven’t already, engage in discussions on further personalizing users’ experience to build a broader community — to foster loyalty and enhance brand sentiment and reputation.

    Dive into experiential marketing

    The 12-time Grammy Award winner has also set new benchmarks in live music, most recently evident in the engineering and production of the Eras Tour, along with the resulting concert movie.

    Tech entrepreneurs, particularly those with a sizable marketing budget, know all too well that experiential marketing can be a game-changer. So, if and when possible, look into ways to offer interactive product demos or immersive virtual reality experiences. At the very least, host industry events such as panels or mixers for memorable experiences that are relatively easy to execute.

    Related: How TikTok and YouTube Have Changed the Music Industry Forever

    Work towards becoming a change-maker

    The Eras Tour ticket pre-sale process was intended to be open only to verified Swift fans, but more than 14 million wound up trying to get them — including an untold number of bots, leading to a public dispute between the singer and Ticketmaster. The result was significant reform in concert ticketing broadly, which further solidified her reputation for shaping business practices for the better.

    Most tech entrepreneurs might prefer to work under the radar to encourage improvements, but they can spearhead reforms — advocate for better in-house policies, collaborate in pursuit of fairer rules/laws and tweak products to better solve industry-wide problems.

    Be flexible

    Swift is known to seamlessly transition across music genres — adaptability that keeps her interesting to fans and newcomers alike. Tech entrepreneurs need to be analogously flexible, ready to pivot in response to market trends and the expected needs of customers by tirelessly adapting products for expanded user groups, among other strategies.

    Related: The Benefits of Investing in Talent: How It Impacts the Music Industry and Beyond

    Juice your narrative

    Swift’s fan base has carefully tracked her brand’s evolution through each album phase, from 2006 Nashville newcomer to present-day pop colossus. From a marketing perspective, it’s simply a #chefskiss. Tech entrepreneurs should also focus on their storytelling — be fearless in evolving their marketing to resonate with different audiences via dynamic visual branding and compelling content across numerous mediums.

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    Farhana Rahman

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  • Beat Work-Induced 'Jet Lag' With These Tips | Entrepreneur

    Beat Work-Induced 'Jet Lag' With These Tips | Entrepreneur

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    “I love jet lag!” said no one ever. Well, that’s not entirely true. Recently, a Washington Post contributor made a case for embracing jet lag, rather than fighting it. She explained the benefits of catching sunrises and exploring sleepy streets when most residents are still snoozing.

    I used to lean into jet lag as well. When I’d visit my family in Turkey or Jotform‘s office in Ankara, the flight back home to San Francisco would set me 10 hours behind. Instead of trying to overcome the effects of jet lag, I’d wake up in the middle of the night and get to work. I figured I’d put in a day’s work and get to bed early. But I’d find myself dozing off by lunchtime, wired at night and very grumpy. What’s more, my mind felt so fuzzy that I couldn’t make headway on meaningful projects.

    Related: Use This Hack to Schedule Important Tasks for When You’re Most Productive

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    Aytekin Tank

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  • Why Vertical Integration Allows Leaders to Actually Control Their Data | Entrepreneur

    Why Vertical Integration Allows Leaders to Actually Control Their Data | Entrepreneur

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    The parable of “The Blind Men and The Elephant” tells the story of six blind men who come across an elephant for the first time. They each examine a different part of the elephant. The trunk. The ears. The tusks… You get the gist.

    Consequently, each person comes to a very different conclusion about what an elephant is.

    They are all partly right — but also entirely wrong.

    The moral of this story is simple. Different perspectives and incomplete information can lead to varying — and often inaccurate — interpretations. It’s an old story. But it’s a fable we should pay close attention to in our modern world. Especially when working with data.

    Related: Using Data Analytics Will Transform Your Business. Here’s How.

    Less will (almost) always be more

    Business leaders worldwide want to use their data to make better decisions and get more accurate insights into their business.

    But often, businesses will have multiple layers in their tech stacks. Some are new. Some are old. Some are integrated. Some are totally siloed. Each of these layers captures different data. And you get inaccurate insights when these pieces aren’t talking to each other.

    Businesses have access to more data than ever before. But quantity doesn’t equal quality.

    For many organizations, the actual quality of their data is being diluted. You create misaligned incentives by having so many different elements in your tech stack. One aspect of your stack may tell you one thing, but then the next part can contradict it. We see this a lot in advertising technology. A myriad of different buying platforms, data partners, publishers, analytics tools, CRM, segmentation tools and more. Often, it becomes so messy over time that it’s hard to get the actionable data you need to create insights, actions, and business impact.

    Access to lots of data sets does not equal good data. Looking at data sets in silos is an easy way to paint the wrong picture, which increases the likelihood of poor decision-making.

    Data is exciting, but you need to be able to view it in a single place, which is why I think the principles of vertical integration should be implemented here.

    Vertical thinking

    Vertical integration is a strategy that allows a company to streamline its operations by taking direct ownership of processes. In other words, it allows you to control your own destiny. In theory, it gives businesses greater efficiencies, reduced costs, and more control of the manufacturing and distribution process. Tesla is a famous example of this model practice.

    Tesla implemented vertical integration across its business structure — but with a major focus on two key aspects: battery production and energy storage. Tesla knew that batteries were critical to EVs – and that success hinged on owning a highly contested battery supply chain. This enterprise allowed Tesla to leverage its expertise in battery technology and apply it to the energy storage market, creating synergies and shared resources across different product lines.

    It does everything from designing the cars, building the tech, and making its own chips to selling the cars. Everything is in-house, meaning supply chain issues or manufacturing partners don’t slow it down. This integration has helped the company scale its operations, drive technological advancements, and position itself as a sustainable transportation and energy solutions leader.

    Owning your data can work in the same way. But without the need to build a multi-billion dollar gigafactory in Nevada.

    By taking control of your tech stack and ownership of your information, you gain a more holistic view of what is happening with your business. And you also insulate yourself from issues in the outside world.

    This is invaluable on its own. But this singular view becomes even more powerful when you factor in the exponential growth of AI and ML technologies. Applying these tools to a vertically integrated data set can transform a business and unlock previously unknowable insights.

    Essentially if your data is disparate and not well integrated, you can never get to the “Unknown Unknowns”—the things you didn’t even know to ask about. There are patterns invisible to human eyes. You can only see these with good data.

    More insights. More efficiency. More control. Vertical integration offers businesses control of their supply chains. But there are challenges, too. Even if you aren’t building huge factories, you need investment and support to make the necessary changes. And most importantly, you need to ensure that becoming self-reliant doesn’t mean you get tunnel vision and lose sight of developments outside your business.

    Related: 8 Ways Data Analytics Can Revolutionize Your Business

    Data and elephants

    If you look at different data sets in isolation, you will likely emerge with an incorrect idea of what an elephant — aka your business — really is.

    You might be partly right in places, but you will also be entirely wrong.

    Vertical integration allows leaders to see the full picture of their business — from customer to creative, hoof to tusk.

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    Kristopher Tait

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