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Tag: Leadership lessons

  • How Owning a Professional Rugby Team Changed the Way I Lead | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    When I signed on as a founding owner of the Houston SaberCats, people asked me the same question over and over: “Why rugby?”

    To be fair, it wasn’t the obvious move. I’d already built a successful career in commodities trading and entrepreneurship. Rugby wasn’t a mainstream sport in the U.S., and it was clear we’d be climbing uphill in search for new market, new fans and new infrastructure. But that’s exactly what drew me to it.

    Entrepreneurs know that if you only play safe games, you’ll never learn anything new. Rugby, in all its rawness, became a mirror for my business endeavors: tough, unpredictable and full of lessons that reshaped how I lead. Here are the five biggest ones.

    Related: Adopt The Winning Habits of Elite Sports Stars to Unlock Entrepreneurial Greatness

    1. Play through the hit

    I’ll never forget standing on the sideline of our first SaberCats match, watching one of our players get leveled by a brutal tackle. Most people would’ve stayed down. He didn’t. He fought for every inch, rolled and kept driving the ball forward. The crowd erupted.

    That image stuck with me. In rugby, getting hit is part of the game, and when you get hit, you don’t stop — you adapt mid-impact. In business, the “hit” looks like a failed deal, a regulatory curveball or a market downturn. I’ve had plenty of those. What separates winning leaders from the rest isn’t avoiding the hit; it’s what they do after. Push forward. Stay on your feet. Make the play anyway.

    2. Trust the pack

    Early on, I thought entrepreneurship was about individual brilliance, where the best idea, the hardest worker and the guy willing to put in more hours than anyone else wins. Rugby shattered that illusion.

    A scrum is pure trust. Eight players lock in, shoulder to shoulder, with one mission: Move forward. If even one man falters, the whole formation collapses. It’s messy, it’s physical, and it’s all-or-nothing.

    That’s exactly what business teams should look like. At GETCHOICE!, I’ve learned that success isn’t about me making every call. It is about surrounding myself with the right people, trusting them to do their jobs and creating a culture where loyalty and accountability are non-negotiable. No pack, no progress.

    3. Adapt on the fly

    Rugby is chaos. There are no endless timeouts to plan your next move. Plays evolve in seconds, and players must read the field, adjust and execute in real time.

    I’ve had moments in business where a deal collapsed overnight or new regulations flipped our strategy upside down. The instinct is to freeze, but rugby trained me to do the opposite: Call an audible, pivot, and move. You may not always have perfect data, but you always have instinct and courage. And sometimes, that’s all you need to keep momentum alive.

    4. Respect the grind

    Here’s what most people don’t realize about rugby: These athletes play with no pads, no helmets and no glamour. It’s 80 minutes of collisions, sweat and bruises. And yet they do it because they love the grind.

    That mentality is the same in entrepreneurship. When people see an acquisition announcement or a headline about success, they don’t see the years of grueling work behind it. The 4 a.m. flights. The contracts that fell apart. The stress of payroll weeks. Rugby reminded me that toughness isn’t a one-time choice but rather it’s a way of life. You have to enjoy the grind, because that’s what forges winners.

    Related: Adopting an Elite Sports Mentality to Entrepreneurship

    5. Leave it all on the field

    Rugby has this tradition I fell in love with: After the final whistle, rivals share beers. Think about that — you spend 80 minutes hitting each other with everything you’ve got, and then you sit down together with mutual respect.

    I’ve carried that same mindset into business. Compete fiercely, play full out, but respect your rivals. Shake hands. Learn from them. Because the legacy you leave isn’t about a single game or deal — it’s about how you show up, how you compete and the way people remember you when the whistle blows.

    Rugby is the ultimate underdog game: tough, unpolished, but rich with lessons about teamwork, grit and respect. It changed how I lead, how I compete, and how I build companies.

    And here’s the truth: Business, like rugby, isn’t for the faint of heart. You will get hit. You will get tested. But if you trust your pack, adapt when the field shifts and respect the grind, you’ll not just play the game, you’ll own it.

    When I signed on as a founding owner of the Houston SaberCats, people asked me the same question over and over: “Why rugby?”

    To be fair, it wasn’t the obvious move. I’d already built a successful career in commodities trading and entrepreneurship. Rugby wasn’t a mainstream sport in the U.S., and it was clear we’d be climbing uphill in search for new market, new fans and new infrastructure. But that’s exactly what drew me to it.

    Entrepreneurs know that if you only play safe games, you’ll never learn anything new. Rugby, in all its rawness, became a mirror for my business endeavors: tough, unpredictable and full of lessons that reshaped how I lead. Here are the five biggest ones.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    Javier Loya

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

    Opinions expressed by Entrepreneur contributors are their own.

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

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

    Dare to dream bigger

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

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

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

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

    Own your narrative

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

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

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

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

    Transfer skills across domains

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

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

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

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

    Monetize with meaning

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

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

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

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

    Root in purpose

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

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

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

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

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

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

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

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

    Liliana Pertenava

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  • How I Discovered the Value of Imperfectionism and Made It My Team’s a Secret Weapon | Entrepreneur

    How I Discovered the Value of Imperfectionism and Made It My Team’s a Secret Weapon | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    When my company launched a community feature for our customers a couple of years ago, we made some incorrect assumptions in our messaging that derailed the campaign’s success. But when our creativity didn’t land, instead of learning from our mistakes, we made an even bigger error: we abandoned our efforts altogether. The truth? We were perfectionists struggling to face a fairly public failure. But instead of iterating on our campaign to improve it, we let it fizzle out.

    They say perfection is the enemy of progress, and I’ve seen this play out both in my own career and with many entrepreneurs. No matter how genius an offering is, the pressure of getting everything just right can often delay — or completely derail — a launch.

    Perfectionism is a well-known enemy of productivity, the root cause of many psychological disorders and a common answer to the interview question, “What is your biggest weakness?” But while we recognize perfectionism as a barrier to progress (and I certainly have), why do so many creative and innovative people still fall into its trap?

    Perfectionism might not be a new hindrance, but it is on the rise – and not just with entrepreneurs. A culture of competitive individualism, amplified by social media, pressures all of us to be flawless and can seriously undermine our ability to succeed in business. In fact, it almost certainly guarantees failure.

    The reality is, we all need to be able to take risks — and fail — in order to improve our work. Embracing the value of imperfection is the only viable way to get there.

    Perfectionism can be downright damaging

    As a recovering perfectionist, I now understand that perfectionists are more than just uptight overachievers. They can obsess over meeting exceptionally high standards and unrealistic expectations. They can even be highly self-critical and fear criticism from others. And yet many go into their entrepreneurial journey by comparing themselves to those who have already hit it big, blind to any mistakes those role models made along the way.

    Nearly every entrepreneurial success story is built on the back of countless failures – and many entrepreneurs are famous for it. But I’ve witnessed personally how striving for perfection from the outset doesn’t lead to a successful offering. In fact, the results can be the opposite: no launch at all. Perfectionism often holds would-be entrepreneurs and creators back from sharing their unique genius with the world and getting a finished product out in the market. However, there are ways to overcome it. And I should know: I’m still working on overcoming it myself.

    Fail small, win big

    After the communities launch failure (which, fortunately, was a small one in the grand scheme of things), I learned an invaluable lesson: the best way to handle failure is by examining it, embracing it and using it to improve, not by hiding from it and pretending it didn’t happen.

    Nowadays, we approach our launches much differently – in phases that allow us to test the waters, get feedback from our customers, and iterate on our approach and messaging until it hits just right.

    Making mistakes is par for the course in business, but learning from them and correcting the course is the only way to turn them into a net positive. Many of the most successful creators go a step further and share their failures publicly. Patreon’s CEO Jack Conte calls it normalizing the duds, and his approach is pure storytelling genius: a balance of humility and humor that makes his failures feel like an actual work of art.

    Getting past perfectionism

    As a recovering perfectionist, I know that embracing imperfectionism is easier said than done. We’re all operating within a hyper-competitive and often unforgiving business climate where every move (especially wrong moves made publicly) can be ruthlessly analyzed and criticized. We’ve all seen the chilling effects cancel culture has on individuals and businesses that have made irreparable mistakes.

    Moving past perfectionism means intentionally taking calculated risks and baking blunders right into the development process. Here are a few strategies we use to make that process more palatable:

    • Connect with a community of peers: Sharing imperfect work is easier when those around us are doing it too. Getting connected to a community of entrepreneurs in trial-and-error mode is the best way to see that you’re not alone. In fact, by becoming an entrepreneur, you’re part of a group of people in the business of overcoming failure. Whether you find that group through a coworking space or a software-related community, look to others who can accept critical feedback and allow it to inform progress.
    • Adopt a coaching mindset: Reminding yourself that nobody’s perfect is helpful because even seasoned experts make mistakes. Redefining the way I perceive failure (and success) meant rebranding missteps as an opportunity to iterate. You can even rewire your brain to appreciate critical feedback for the gift it is.
    • Look beyond the launch: Product, campaign or company launches often create an intensity that brings out your best work, but leaning into them too much can lead to a letdown – especially if the results don’t meet your expectations. I often tell my team not to put too much creative energy into something that will likely need to change once it’s in market. Even if it’s flawed, I know we’ll learn something as soon as it goes live that will enable us to improve it.

    The truth is, we all have moments of uncertainty. But no matter how uncomfortable it feels to put your creative work out there for judgment, the reality is that people will judge it whether you think it’s perfect or not. Accept that fact, cut yourself some slack and don’t let the idea of perfection hold you back from sharing your unique genius. Done is better than perfect, after all.

    Christie Horsman

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  • These 4 Popular Mantras Contain Valuable Lessons in Leadership | Entrepreneur

    These 4 Popular Mantras Contain Valuable Lessons in Leadership | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Some old sayings are popular because they stand the test of time. You’ve heard them from family and friends alike: Don’t look a gift horse in the mouth; treat others the way you want to be treated. There are four wise mantras that speak to the ebb and flow of business, containing vital lessons that will help you navigate the rough spots as you build your dream.

    1. Everything happens for a reason

    We don’t plan to fail or let someone take advantage of us or lose an account, but these things do happen. Going into the situation with our eyes open and willing to learn will prevent a bad decision from growing into a crisis. In business, everything is character-building. The heartbreaks teach you more than the wins.

    As a legally blind CEO and broadcaster, I interview people on my radio show. Since I can’t see note cards, I immerse myself in their story, memorizing the events of their lives and how they felt about these events. Blindness has allowed me to become a much better listener. Some of my guests have said, “You know my life better than I know my life.” Hosts usually sit across from their subject with a list of questions; I memorize my guest’s entire life story and every question comes from the heart. My way is the Nancy way, born from necessity, but it’s more effective.

    When you can’t see the way through a crisis, take time to sit down and make a chart. In the left column, list the tough circumstances — the negative events. In the right column, list the things you have accomplished of which you are most proud. You will be surprised at the victories you have gained. You will see that you pushed through the negative events that are now overshadowed by your successes.

    Related: I’m a Blind CEO — Here Are 3 Lessons I’ve Learned About Finding Alternative Ways to Be Your Most Productive Self.

    2. You can’t judge a book by its cover

    Running a company, one of the first things you learn is that people defy their outward appearances. You will consistently find yourself in a position to judge others: a new co-worker, a new client or a candidate in an interview. You may meet a new colleague with a disability. If you can’t see beyond labels to the skills and gifts a person may possess, you will miss out.

    I remember back when vision loss made it impossible to drive. I was a real estate agent, so I had to take the bus to get to my clients. Dressed in my best suit, I had my briefcase, carrying everything with me in case they wanted to make an offer. I sat in the front where the handicapped section was so I could hear the bus driver call out my stop to me. A woman came over to me yelling, “How dare you! This section is for disabled people! You don’t need this seat. What kind of diva do you think you are?”

    It was a most startling example of “Don’t judge a book by its cover.” She saw me as a young, polished executive. Disabled people don’t look like that woman, she thought.

    Biases and prejudices exist. If your company struggles in this area, you can start with awareness. Does your company promote women or people of color? Learn what disabled people can do and how they do it. In your workplace, inspire volunteerism. Pick a cause that needs support and help those groups by raising money, having someone come and speak at your organization or partnering with advocacy groups to encourage underrepresented people to apply to your company.

    3. Call it a day

    Has adversity ever made you more determined than ever to finish something? That’s a good trait when you’re working as a team to accomplish a goal, but there are times when you can give yourself permission to walk away. You can always return with a fresh pair of eyes. This happens to me when technology stops working, especially when it flips out in the afternoon.

    As a business leader, you might try to work in spite of emotional upheaval, whether its grief over a breakup or anger over a flat tire on the way to work. Times of frustration or sadness are the worst times to respond to emails that push your buttons or call a meeting based on your reaction to a specific situation. It’s important to only hit “send” on the email when you’re in a good place. Otherwise, leave it in the draft folder for at least a day.

    As an executive, you can give others permission to call it a day. Make it a point to check in with at least three people daily. Listen to the words they use and their tone of voice. You might save the company a client relationship or prevent an unwanted confrontation in the workplace.

    4. No pain, no gain

    This wise saying comes to us from the world of sports, but it translates well to the world of enterprise. To achieve any goal worth pursuing, there is going to be pain. You will feel the burn of testing your limits when you build a business.

    When you start out, you may envision the road to your career goals as a smooth journey, but the pain of it is working around busy schedules, bringing people with diverse ideas together and the heartache of replacing good people when they leave. If you can begin with a realistic set of expectations — knowing that the unexpected can surface at any moment — you will face your circumstances with a troubleshooting mindset, finding ways to work with your challenges instead of against them.

    When vision loss progressed to the point I could no longer drive, my clients had to adjust to driving us around. It wasn’t ideal, but I found a solution that worked.

    You can use pen/paper or a private blog to keep track of these watershed moments, the times you faced adversity and overcame the odds. You will look back and see your strength — the pain you felt and the overcoming moment when you pushed through. You will see what you learned, how you grew, and the insight you gained.

    Related: 5 Mantras of Successful Entrepreneurs You Can Use to Improve Your Life and Habits

    Conclusion

    There is a power in some of these wise statements that you can harness, depending on your company’s mission. You can even make your own mantra. After all, someone came up with these familiar truisms, likely after coming out of a bad situation. Whether your slogan is “To infinity and beyond” or “Look before you leap,” mantras can serve as reminders of what really matters, keeping you on the path to fulfilling your vision.

    Nancy Solari

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  • How This Leader Disrupted the Massive Travel Market | Entrepreneur

    How This Leader Disrupted the Massive Travel Market | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    For this Leadership Lessons episode, I was excited to talk to a fellow life-long entrepreneur who is transforming the way people take vacations. Over the past two decades, Brent Handler — co-founder and CEO of Inspirato, the world’s first luxury travel subscription brand — has pioneered the industry. Under Handler’s leadership, the company established itself as a leading luxury hospitality company that provides access to a portfolio of luxury vacation homes and other vacation options, including an innovative subscription model.

    Related: The CEO of Whole Foods Shares the 9 Tips That Help Him Run His Company for the Greater Good

    Here are 10 valuable lessons this driven leader shared with me during our conversation.

    1. Build your business on something you care about

    “Go be interested in whatever you’re going to be interested in, and be obsessed,” Handler advises others who want to be entrepreneurs.

    2. Find a massive market and attack it with innovation

    Travel has always been and will continue to be a massive market. Handler co-founded Exclusive Resorts and served as its president from 2002 to 2009. There, he set the standard for the burgeoning destination club industry by delivering tens of thousands of vacations and amassing more than $1 billion in real estate assets.

    Related: Free Webinar | June 13: How to Disrupt a Massive Market & Innovate

    3. Delight your customers

    In 2010 — convinced he could improve on the model he helped establish — Handler co-founded Inspirato to provide sophisticated travelers access to a collection of luxury vacation homes, five-star hotel and resort partners, and custom travel experiences. Sophisticated travelers get personalized service without the six-figure fees previously standard in the industry.

    4. Consider an opaque business model that isn’t a 1:1 cash transaction

    Inspirato uses a system of points that can be used for reserving specific destinations relative to demand.

    5. Slow down and diversify your wins

    Handler says losses will come and go, so it’s best not to be impulsive and blow all the money you’ve just made as an entrepreneur on one big thing. Set the stage for big dreams by diversifying any early wins.

    Related: Not Every Leader Has to Be Steve Jobs, And 9 Other Pieces of Advice from Redfin CEO Glenn Kelman

    6. Nobody wants to work with a bully

    In his 30s, Handler admits that his dogmatic approach as an entrepreneur caused personal friction; his closest confidants told him people thought he was a bully. You need to listen to people, not force your way through.

    7. See some of the world during your career

    Handler told me he regrets staying close to home during his early life and career, so he has encouraged his kids to plant career seeds away from home.

    8. Balance the right speed with the right level of control

    Most people get upset at work over one of two things: consensus or bureaucracy. The same person can complain about both simultaneously, even if those impulses are contrary. As CEO, you need to find a way to balance both to compensate for this.

    9. “Hungry people fight over food”

    Stay scrappy if you can. You’ll do better when you have to make more with less.

    10. Gifting a memorable experience to high-performing employees can resonate more than a cash bonus

    Handler’s company has an “Inspirato for Business” wing designed to allow employers to share high-value packages that employees will likely remember much longer than a few thousand extra dollars in their bank account.

    For more from my hour with Handler, watch the entire webinar here. The growing collection of episodes from our series gives readers access to the best practices of successful CEOs from over 30 of the biggest brands, including Heineken, Headspace, Zoom, Chipotle, Warby Parker, Wayfair and Redfin, to name a few.

    Related: What Has This 100-Year-Old Business Done to Ensure Its Longevity? Its CEO Follows These 7 Leadership Principles.

    Jason Nazar

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  • 3 Leadership Lessons For Effectively Managing Remote Teams | Entrepreneur

    3 Leadership Lessons For Effectively Managing Remote Teams | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Even as bankers urge companies, especially publicly traded, to return to their sprawling office complexes because commercial loan delinquency rates are the highest since the pandemic began, remote work is now firmly embedded in work culture. While financial puppeteers pull market strings on the ground, there’s no question that workers and leaders are facing off into a new world of work.

    My PR agency, celebrating 15 years in business this year, has always been remote. Much of this was out of necessity, but it was also born from my own experiences of efficiency as a remote worker in 2008. For context, in 2008, there was no Zoom and Skype was janky at best, creepy and weird at worst; there was no Slack or Teams. As they say, necessity is the mother of invention, and over the years, I learned a few things about managing a team remotely.

    Today, I consider these systems and processes one of our greatest strengths because our talent pool is limitless and our team and clients are happier. But these systems haven’t been without trial and error, and I’ve learned productivity and outcomes are the essential success ingredients of remote-first environments.

    Related: How to Build a Thriving Organizational Culture in a Remote Workplace

    1. Hire for emotional intelligence

    In my experience, emotional intelligence is the number one attribute determining whether someone can work effectively remotely.

    Studies show remote workers work longer and harder; a recent study that tracked 60,000 Microsoft workers showed the average worker saved 72 minutes in daily commuting but spent an extra half-hour each day working, an additional two hours a week.

    Because of extra time spent at work, a more significant challenge is ensuring remote workers don’t burn out. As a leader, make the extra effort to ask people how they are because you won’t be running into them in the hallway — 15-minute touch bases without a string of action items are an excellent way to connect and keep emotionally intelligent people emotionally engaged.

    It isn’t all that difficult to quantify emotional intelligence — emotionally intelligent employees are empathetic, self-directed, know how to express their needs, are curious, and are receptive to feedback. Emotionally intelligent people also know how and when they work best.

    Progress, rather than perfection, drives emotionally intelligent people, so the next tip is critical to success in remote work culture.

    Remote work culture requires mutual respect. Leaders should also be emotionally intelligent, seeking to be empathetic and solution-oriented rather than enforcers. Leaders should over-communicate their agendas and availabilities as an example rather than a requirement; emotionally intelligent team members will pick up on the signal.

    Related: Emotional and Social Intelligence Matter for Today’s Hybrid Workforce. Do You Know Why?

    2. Set clear goals and objectives

    When I hear stories of managers finding out employees have been using screen trackers to make it look like they are working, I know they haven’t hired for emotional intelligence and I know they haven’t set clear goals and objectives.

    Modern leaders need to rethink how we evaluate team members.

    According to a Stanford University study, remote workers are 13% more productive. Why waste this productivity by insisting on hour tracking? Even in an office environment, no one sits at their desk 10 hours a day and works productively.

    So rather than think of output in terms of hours worked, think about output in terms of contributions. What exactly should an employee be delivering? What KPIs should an employee be tracking for themselves? What is the contribution expected from their role? Suddenly, leaders have a clear view of their most valuable team members, and team members know what’s expected of them.

    Related: How to Keep Remote Workers Productive and Happy

    3. Use technology, but wisely

    It takes 15-20 minutes to get into the flow state, which means every time we’re interrupted, we take that long to get back up to the productivity level we were at just before the interruption. We have all gotten used to the many productivity benefits of technology, but not all technology benefits productivity.

    Notifications are the enemy of focus. Set up a hierarchy of communication. For example, non-urgent or outer office communication can usually happen via email. Slack and/or Teams, practically required for remote culture, are excellent for quick questions or urgent matters. But it’s essential to encourage these channels as professional communication channels, not water coolers. Having a communication channel that dings and pings with GIFs and meme threads all day isn’t productive. It’s not that there isn’t any room for fun; it’s that in a remote environment, providing focus is more critical than providing release. After all, unlike traditional office environments, a team member can take a walk around the block or cuddle with their pet for 10 minutes to blow off steam; they don’t need an intra-office chat for that. Normalize ways to blow off steam rather than having a Slack channel that pings and dings all day with minor grievances.

    I’ve found that project management software is a lot more work for our teams than it saves. Some exceptions exist, but I think most teams can work effectively without a third-party platform. Excel and Google Sheets can send an email when documents are updated. Use it.

    Scheduling meetings has never been more accessible, but that also means it’s more complicated than ever to have control of your calendar. Enabling company-wide “meeting-free” times (Fridays are a good day for this) is an excellent use of calendaring tools and allows everyone some guaranteed productivity time. Also, it’s great that we have so many ways to communicate, but if there are more than three messages or emails on a topic, it’s time to schedule a call. Sending emails back and forth has diminishing returns when it could be as easily solved with a 10-minute call.

    Remote work is here to stay; it’s important for modern companies to find their place in this new professional order. Protecting balance, contributions and focus are the pillars of success for both leaders and their teams.

    Tara Coomans

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  • 7 Books Every CEO Should Read | Entrepreneur

    7 Books Every CEO Should Read | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    There are many different ways that leaders learn, and reading books is one of my favorite ways to open my mind to new thinking and expand my perspective. Personally, I like to always have at least a couple of books I’m reading; and even when I don’t entirely agree with all of the concepts in a book, I always gain some insight that sticks with me.

    The following seven books are ones that I have returned to throughout my 35-year-career and that I often recommend to CEOs seeking new ideas and inspiration:

    Related: 10 Books Every Leader Should Read to Be Successful

    1. The Five Dysfunctions of a Team by Patrick Lencioni

    The Five Dysfunctions of a Team outlines obstacles that lead to underperforming teams and recommends steps to overcome them.

    One major obstacle Lencioni discusses is a lack of trust. Lencioni notes that when there is inattention to results, status and ego can take over and lead to finger-pointing that fractures teams. Trust is the foundation for creating cohesive teams, encouraging innovation and ultimately achieving organizational goals. In thriving organizations, trust is largely built on integrity, transparency and the belief that everyone has a voice and ideas to help the company succeed.

    2. The Four Agreements: A Practical Guide to Personal Freedom by Don Miguel Ruiz

    The Four Agreements offers a powerful code of conduct that can rapidly transform the workplace. The agreements are:

    • Be impeccable with your word: When leaders say they’re going to do something, it’s non-negotiable that they deliver on their promise.

    • Don’t take anything personally: When leaders are constantly trying to preserve their ego, the team is unable to move forward and progress toward its goals.

    • Don’t make assumptions: Great leaders are intentional with their communication. They ask questions instead of jumping to conclusions.

    • Always do your best: There are no shortcuts on the path to success.

    While these principles extend beyond business, they truly are the fundamentals of great leadership.

    3. Lincoln on Leadership by Donald T. Phillips

    Lincoln on Leadership examines President Lincoln‘s leadership abilities and details how they can be applied to today’s complex world.

    President Lincoln exemplified the importance of humility in his effort to abandon command and control leadership. Even amid intense pressure, he showed discernment, taking the time to pause instead of reacting too quickly. It is amazing how perspectives change when leaders give themselves the time and space to really think through decisions.

    Related: 5 Books to Help Leaders Transform Their Business

    4. Strategic Selling by Robert Miller and Stephen Heiman, with Tad Tuleja

    Strategic Selling emphasizes the importance of being able to speak your customers’ language. Great leaders understand what their customers are trying to fix, accomplish or avoid and how their product or service will help their customers achieve their goals. When leaders stay close to their customers’ evolving needs, they’re able to build lasting relationships, ensuring long-term success in the ever-changing business world.

    5. Good to Great by Jim Collins

    Good to Great is another must-read as it helps CEOs better understand where their company provides value. According to Collins, Level Five leaders display a powerful mixture of personal humility and indomitable will. Many of us know Collins’ famous line about having the “right people in the right seats on the bus.” I’ve seen firsthand how a coworker taking on a new and different role in the organization can lead to incredible success for both the individual and the business.

    6. The Strangest Secret by Earl Nightingale

    For those just starting out on their CEO journey, The Strangest Secret provides a helpful reminder of the importance of mindset to leadership success.

    Nightingale was ahead of his time in the now well-established concept that people’s thoughts shape their reality and can determine their success. This is why great leaders focus on articulating the company mission, vision and purpose to their teams. When everyone knows what success looks like, everyone works together toward the goals. While it sounds straightforward, it is certainly not easy. This powerful concept has stayed with me throughout my career.

    Related: These 4 Books Changed These Leaders’ Lives and Businesses for the Better

    7. From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life by Arthur C. Brooks

    Finally, it can feel lonely at the top, but it doesn’t have to be. The role of the CEO is challenging, and From Strength to Strength offers a roadmap for finding purpose and meaning as leaders reach the end of a successful career and decide on the next chapter. Brooks shares how intentional focus on priorities and habits can pave the way for fulfillment.

    Sam Reese

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  • The CEO of Whole Foods Shares the 9 Tips That Help Him Run His Company for the Greater Good | Entrepreneur

    The CEO of Whole Foods Shares the 9 Tips That Help Him Run His Company for the Greater Good | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Imagine running a world-famous company, one that you know many people depend on daily. How do you scale the business without compromising the values that inspired its start in the first place? For my latest Leadership Lessons episode, I had the chance to talk to the CEO of a multinational supermarket chain synonymous with the words healthy, local and organic: Whole Foods Market‘s CEO Jason Buechel.

    I picked his brain about what it’s like to oversee more than 100,000 Whole Foods Market employees across 535 stores in the U.S., Canada and the U.K.

    Buechel joined the Austin, Texas-based chain in 2013 as global vice president and chief information officer. He later served as chief operating officer and provided operational leadership over the grocery chain’s 500-plus locations.

    Before Whole Foods Market, Buechel was allowed to soak up knowledge and experience as the managing director/partner within Accenture’s Retail Operations Practice, where he worked with leading retailers on strategic business and technology transformation.

    Throughout our talk, it was abundantly clear that Buechel serves as a champion of Whole Foods Market’s culture and values and is committed to increasing access to local, quality food for the communities it serves. Here are nine invaluable lessons Buechel shared with me during our conversation:

    1. The sky’s the limit when you’re following your passions

    And that means not focusing on the things you want to say, but rather on the things you need to hear. Try to understand the scenario at any given moment, and don’t allow for any misinterpretation on your part when it’s your time to talk.

    Related: How One Leader Has Persevered Through 20 Years of Change in the Travel Industry

    2. Understand the vantage point of each stakeholder, and find a balanced approach

    All stakeholders want to be involved. Let them in on the challenges you face so they can help develop or contribute to a solution.

    3. Allow team members to let you know they are connected to the mission and help shape the culture

    Promote a culture of co-creation with team members at all levels, and work to cultivate a culture that supports and promotes connection to a higher purpose and core values. In the case of Whole Foods Market, that’s being store-centric.

    4. Be patient in your 20s

    It’s not a race. Buechel told me he finished college in three-and-a-half years because he thought he was ready to be done and join the workforce. Looking back, he says it’s a benefit to soak up what people are inclined to offer you in your 20s. Be a sponge, and absorb everything worthwhile from everyone you know.

    Related: Not Every Leader Has to Be Steve Jobs, And 9 Other Pieces of Advice from Redfin CEO Glenn Kelman

    5. Make sure you have a rich life outside of work

    Don’t allow the paper cuts of making personal sacrifices for work to add up to regret when it comes to the decisions you’ve made. You only live once. Don’t trade off on things that are fleeting: Work will always be there.

    6. Never stop taking risks professionally

    Switching jobs, changing clients and taking risks are all uncomfortable, but if you’re not pushing boundaries you’re never going to know your fullest potential.

    7. You won’t realize how much stronger your power to communicate as a CEO is until you’re there

    When you become the leader of an organization, your power of communication is hugely increased in ways you won’t fully understand until you’re actually in the driver’s seat. When you do realize that, you can take the organization anywhere.

    8. Co-create what you’re looking to put into place

    Have a team to build your company with, and move those people along with you. You’ll find that driving change will be difficult otherwise.

    Related: How This Tech Leader Found Her Voice and Took the Reins of a Major Company

    9. Don’t overthink the end goal

    Buechel’s message to future CEOs is that if you do all the right work, grow yourself and support your team, good things will happen. It’s not going to be a linear experience. Zig-zags are inevitable. So get comfortable with being uncomfortable.

    For more from my hour with Buechel, watch the full webinar here. The growing collection of episodes from our series gives readers access to the best practices of successful CEOs from over 30 of the biggest brands, including Wayfair, Redfin, Booking.com, Heineken, Headspace, Zoom, Chipotle, Warby Parker and ZipRecruiter, to name a few.

    Jason Nazar

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  • Free On-Demand Webinar: How to Grow With Purpose

    Free On-Demand Webinar: How to Grow With Purpose

    How does a business grow successfully without losing its ideal mission, vision and values? In the next episode of our Leadership Lessons series, host Jason Nazar sits down with the CEO of a multinational supermarket chain synonymous with the words healthy, local and organic. As one of the youngest CEOs to ever lead a successful retailer, Jason Buechel oversees more than 100,000 Whole Foods Market employees across 546 stores in the U.S., Canada, and the U.K. He joined the Austin, Tex.-based chain in 2013 as Global VP and CIO where he was responsible for all aspects of IT and digital innovation, ushering in large-scale initiatives that played a critical role in the growth of the business. He later served as COO, providing operational leadership over the grocery chain’s 500-plus locations.

    In addition to sharing the biggest leadership lessons he’s learned from his impressive 15-year career, Buechel will dive into other topics including:

    Don’t miss out—complete the registration below and watch now!

    About The Speakers

    Jason Buechel serves as CEO of Whole Foods Market. He previously served as COO, providing operational leadership for over 546 locations across the U.S., Canada and the U.K., overseeing the company’s technology, supply chain and distribution, store real estate and design, and Team Member Services (HR) functions. He joined the company in 2013 as Global VP and CIO where he was responsible for all aspects of IT and digital innovation, as well as ushering in large-scale IT initiatives that played a critical role in the growth of the business. Prior to WFM, Jason served as Managing Director/Partner within Accenture’s Retail Operations Practice, where he worked with leading retailers on strategic business and technology transformation. Jason holds a B.A. from the University of Wisconsin-Milwaukee.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • Free Webinar | May 16: How to Grow with Purpose | Entrepreneur

    Free Webinar | May 16: How to Grow with Purpose | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    How does a business grow successfully without losing its ideal mission, vision and values? In the next episode of our Leadership Lessons series, host Jason Nazar sits down with the CEO of a multinational supermarket chain synonymous with the words healthy, local and organic. As one of the youngest CEOs to ever lead a successful retailer, Jason Buechel oversees more than 100,000 Whole Foods Market employees across 546 stores in the U.S., Canada, and the U.K. He joined the Austin, Tex.-based chain in 2013 as Global VP and CIO where he was responsible for all aspects of IT and digital innovation, ushering in large-scale initiatives that played a critical role in the growth of the business. He later served as COO, providing operational leadership over the grocery chain’s 500-plus locations.

    In addition to sharing the biggest leadership lessons he’s learned from his impressive 15-year career, Buechel will dive into other topics including:

    Don’t miss out—register now!

    About The Speakers

    Jason Buechel serves as CEO of Whole Foods Market. He previously served as COO, providing operational leadership for over 546 locations across the U.S., Canada and the U.K., overseeing the company’s technology, supply chain and distribution, store real estate and design, and Team Member Services (HR) functions. He joined the company in 2013 as Global VP and CIO where he was responsible for all aspects of IT and digital innovation, as well as ushering in large-scale IT initiatives that played a critical role in the growth of the business. Prior to WFM, Jason served as Managing Director/Partner within Accenture’s Retail Operations Practice, where he worked with leading retailers on strategic business and technology transformation. Jason holds a B.A. from the University of Wisconsin-Milwaukee.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • Free On-Demand Webinar: How to Lead a Company Through Multiple Times of Uncertainty

    Free On-Demand Webinar: How to Lead a Company Through Multiple Times of Uncertainty

    Previously a trader and an investment banker, Glenn Fogel joined Booking (then known as Priceline.com) in Feb. 2000 as a young manager. Two weeks later, the stock market peaked and the dot-com bubble burst. Soon after, the Sept. 11 attacks happened, hampering people’s desire to travel. And the industry was shattered again when the 2020 pandemic hit. How did the world’s leading provider of online travel lead through these uncertain times?

    Find out in the next episode of our Leadership Lessons series with the CEO & President of Booking Holdings (NASDAQ: BKNG) – parent company of Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable – chats with series host Jason Nazar about how he leads more than 20,000 employees across 300+ offices in 220 countries around the world and the greatest lessons learned in his 30+ year career. Topics include:

    Complete the registration form to watch now!

    About The Speakers

    Glenn Fogel is CEO & President of Booking Holdings (Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK, OpenTable), a position he has held since January 2017, and CEO of Booking.com since June 2019. He previously served as Head of Worldwide Strategy and Planning for six years. He was also EVP, Corporate Development for over seven years, responsible for worldwide mergers, acquisitions, and strategic alliances. Prior to Glenn joining Booking Holdings in Feb. 2000, he was a trader at a global asset management firm and an investment banker specializing in the air transportation industry. He is a member of the New York State Bar (retired). Glenn is a graduate of Harvard Law School and earned a B.S. in Economics from the University of Pennsylvania’s Wharton School.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • Free Webinar | April 25: How to Lead a Company Through Multiple Times of Uncertainty | Entrepreneur

    Free Webinar | April 25: How to Lead a Company Through Multiple Times of Uncertainty | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Previously a trader and an investment banker, Glenn Fogel joined Booking (then known as Priceline.com) in Feb. 2000 as a young manager. Two weeks later, the stock market peaked and the dot-com bubble burst. Soon after, the Sept. 11 attacks happened, hampering people’s desire to travel. And the industry was shattered again when the 2020 pandemic hit. How did the world’s leading provider of online travel lead through these uncertain times?

    Find out in the next episode of our Leadership Lessons series with the CEO & President of Booking Holdings (NASDAQ: BKNG) – parent company of Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable – chats with series host Jason Nazar about how he leads more than 20,000 employees across 300+ offices in 220 countries around the world and the greatest lessons learned in his 30+ year career. Topics include:

    Don’t miss out—register now!

    About The Speakers

    Glenn Fogel is CEO & President of Booking Holdings (Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK, OpenTable), a position he has held since January 2017, and CEO of Booking.com since June 2019. He previously served as Head of Worldwide Strategy and Planning for six years. He was also EVP, Corporate Development for over seven years, responsible for worldwide mergers, acquisitions, and strategic alliances. Prior to Glenn joining Booking Holdings in Feb. 2000, he was a trader at a global asset management firm and an investment banker specializing in the air transportation industry. He is a member of the New York State Bar (retired). Glenn is a graduate of Harvard Law School and earned a B.S. in Economics from the University of Pennsylvania’s Wharton School.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • ‘Succession:’ 5 Lessons the Roy Family Could Stand to Learn | Entrepreneur

    ‘Succession:’ 5 Lessons the Roy Family Could Stand to Learn | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    For three seasons, HBO’s award-winning series, Succession, has been centered around what the show’s title suggests: Who will inherit control of the Waystar Royco? As someone who has spent the better part of my career working with the real-life Logan Roys of the world — we’re talking ultra-wealthy individuals, often with children from multiple marriages, sitting at the helm of major corporations — let’s just say I have thoughts on how Logan Roy, the patriarch of the Roy family and founder of Waystar Royco, has orchestrated the company’s succession plan.

    As we head into the highly anticipated fourth and final season, I’ll share, based on my extensive experience — as a planner, strategist and personal advisor for individuals and families as well as a pioneer and premier authority on legacy planning — five lessons the Roy family could benefit from learning.

    But first, let’s recap where we left off. Logan Roy is set to relinquish control of his media and entertainment conglomerate. But rather than handing the reins to one of his three children, in a surprise twist, he says he has decided to sell — not merge — Waystar Royco to streaming platform GoJo. This means none of Logan’s children will take over as the buyout deal would completely cut them out of the business.

    Related: What Entrepreneurs Can Learn from HBO’s ‘Succession’

    It’s a move that no one expected, or even thought was possible. A stipulation that was negotiated by Logan’s second wife as part of their divorce settlement protected the children from ever losing control of the company. Logan Roy would need the children’s unanimous consent for any change of control — or so we thought.

    In the final moments of the season, Logan Roy revealed he renegotiated that divorce settlement, and the children no longer have such power. It would appear heading into season 4 that Logan Roy is (yet again) in complete control of Waystar Royco’s fate, at least for now.

    While this succession nightmare makes for entertaining TV, there are some real lessons we can learn based on how the show panned out. So let’s dive right in!

    1. You absolutely need a succession plan for your business

    Okay, if there were a succession plan, then there probably would not be a show. That said, Logan Roy is in his 80s, and yet there is no plan for who will take over as CEO of Waystar Royco should he die or become incapacitated, nor does there seem to be a plan in place for what happens to his wealth and controlling shares of the company. While not uncommon, this is completely irresponsible. A succession plan ensures a smooth transition upon a CEO’s resignation, death or incapacity and helps avoid the risks of lost revenue, decreased productivity or a damaged reputation.

    2. A prenuptial agreement is a must

    A prenuptial agreement is absolutely necessary to protect your business. Without one, you risk your business becoming a marital asset subject to divorce proceedings. Had Logan Roy had a prenuptial agreement, his shares of Waystar Royco could have been clearly designated as non-marital assets to which his ex-wife had no right or entitlement. He could have retained complete control of the company, and his children would never have had the opportunity to band together and potentially block a sale or merger of the company. Even worse, the provision that was negotiated actually incentivizes Logan to pit his children against each other so they are never a unified front — which brings us to our next issue.

    Related: Are You an Authoritative Leader like Logan Roy or a Personality Hire Like Cousin Greg? Which ‘Succession’ Character Are You At Work?

    3. Family success is built upon healthy communication and trust

    A now-famous study conducted by Roy Williams of the Williams Group surveyed 3,250 families over a 20-year period and found that the reason 70% of intergenerational wealth transfers fail is because of a breakdown of communication and trust within the family unit. The Roy family could be the poster children for this study.

    There is absolutely zero trust amongst the family members, nor is there healthy communication. As a result, the reality is that Logan’s fortune will most likely be squandered quickly after his death. If Logan wanted his fortune to last generations, he would have to create healthy lines of communication amongst the family that emphasized transparency and trust. Regular family meetings and outings are one way of accomplishing this. One client of mine even had a family newsletter that went out regularly.

    4. Money does not buy happiness

    I don’t know about you, but I do not desire to be a member of the Roy family. Despite their wealth, they just don’t seem like happy people. Perhaps that is because, as the old adage goes, money cannot buy happiness. Well, that old adage has been backed by science. According to positive psychology, happiness in the sense of your overall well-being and flourishing as a human consists of five elements (referred to as “PERMA“): positive emotions, engagement, positive relationships, meaning and accomplishments. Money and material possessions only produce temporary gratification and not long-term happiness.

    Related: Succession Planning: How to Ensure Your Business Will Thrive Without You

    5. Take the time to discover your life purpose

    The fundamental flaw with every character in HBO’s Succession is that each lacks a sense of life purpose. We do not know why Logan Roy created Waystar Royco or what the company’s mission is. It is suggested that Logan grew up impoverished and under harsh circumstances around the beginning of World War II. Are we to believe that Logan’s drive is fueled by a desire to escape, and never return to, those circumstances? His children, on the other hand, seem simply to be vying for their father’s love and approval. In other words, everyone seems to be stuck in some form of trauma, as opposed to pursuing some greater life purpose.

    The most successful clients I have worked with, in terms of living happy, fulfilling lives while achieving great financial wealth, are those who are not defined by their circumstances and have lived their lives in pursuit of a greater purpose.

    Daniel Scott

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  • Free On-Demand Webinar: How to Raise Capital & Scale A Business

    Free On-Demand Webinar: How to Raise Capital & Scale A Business

    As a groom in 2005, our next guest experienced first hand how difficult it was to find an online resource that would help him execute his wedding plans more efficiently. He vowed to build a tech-forward company that would make planning less stressful and frustrating for engaged couples. Since co-founding WeddingWire in 2007, Timothy Chi led the company from an internet start-up to a multimillion-dollar leader in the wedding planning industry. He also led the merger of WeddingWire with The Knot and its collective brands under one umbrella – The Knot Worldwide – the largest provider of wedding marketplaces, websites, planning tools and registry services in 16 countries across North America, Europe, Latin America and Asia.

    In the next Leadership Lessons episode, Chi will chat with series host Jason Nazar about the greatest lessons he learned from his 25+ year career. Topics include:

    • Entrepreneurship & co-founding companies

    • How to raise capital & scale a company

    • The future of work & workplace culture

    • Servant leadership

    Watch now!

    About The Speakers:

    Timothy Chi is co-founder of WeddingWire and CEO of The Knot Worldwide, a leading global wedding planning company comprised of over 1,900 employees worldwide. Previously, he co-founded Blackboard Inc. where he helped the company grow to over 600 employees, raised $100M in capital with a valuation of $750M, and took the company public in 2004. Chi holds a B.S. degree in Operations Research/Industrial Engineering from Cornell University and a M.S. degree in Engineering Management from Tufts University. He is a member of the Young President’s Organization in Washington, D.C.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. degree from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • Free Webinar | January 31: How to Raise Capital & Scale A Business

    Free Webinar | January 31: How to Raise Capital & Scale A Business

    Opinions expressed by Entrepreneur contributors are their own.

    As a groom in 2005, our next guest experienced first hand how difficult it was to find an online resource that would help him execute his wedding plans more efficiently. He vowed to build a tech-forward company that would make planning less stressful and frustrating for engaged couples. Since co-founding WeddingWire in 2007, Timothy Chi led the company from an internet start-up to a multimillion-dollar leader in the wedding planning industry. He also led the merger of WeddingWire with The Knot and its collective brands under one umbrella – The Knot Worldwide – the largest provider of wedding marketplaces, websites, planning tools and registry services in 16 countries across North America, Europe, Latin America and Asia.

    In the next Leadership Lessons episode, Chi will chat with series host Jason Nazar about the greatest lessons he learned from his 25+ year career. Topics include:

    • Entrepreneurship & co-founding companies

    • How to raise capital & scale a company

    • The future of work & workplace culture

    • Servant leadership

    Don’t miss out—register now!

    About The Speakers

    Timothy Chi is co-founder of WeddingWire and CEO of The Knot Worldwide, a leading global wedding planning company comprised of over 1,900 employees worldwide. Previously, he co-founded Blackboard Inc. where he helped the company grow to over 600 employees, raised $100M in capital with a valuation of $750M, and took the company public in 2004. Chi holds a B.S. degree in Operations Research/Industrial Engineering from Cornell University and a M.S. degree in Engineering Management from Tufts University. He is a member of the Young President’s Organization in Washington, D.C.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. degree from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

    Source link

  • Free Webinar | January 31: How to Raise Capital & Scale A Business

    Free Webinar | January 31: How to Raise Capital & Scale A Business

    Opinions expressed by Entrepreneur contributors are their own.

    As a groom in 2005, our next guest experienced first hand how difficult it was to find an online resource that would help him execute his wedding plans more efficiently. He vowed to build a tech-forward company that would make planning less stressful and frustrating for engaged couples. Since co-founding WeddingWire in 2007, Timothy Chi led the company from an internet start-up to a multimillion-dollar leader in the wedding planning industry. He also led the merger of WeddingWire with The Knot and its collective brands under one umbrella – The Knot Worldwide – the largest provider of wedding marketplaces, websites, planning tools and registry services in 16 countries across North America, Europe, Latin America and Asia.

    In the next Leadership Lessons episode, Chi will chat with series host Jason Nazar about the greatest lessons he learned from his 25+ year career. Topics include:

    • Entrepreneurship & co-founding companies

    • How to raise capital & scale a company

    • The future of work & workplace culture

    • Servant leadership

    Don’t miss out—register now!

    About The Speakers

    Timothy Chi is co-founder of WeddingWire and CEO of The Knot Worldwide, a leading global wedding planning company comprised of over 1,900 employees worldwide. Previously, he co-founded Blackboard Inc. where he helped the company grow to over 600 employees, raised $100M in capital with a valuation of $750M, and took the company public in 2004. Chi holds a B.S. degree in Operations Research/Industrial Engineering from Cornell University and a M.S. degree in Engineering Management from Tufts University. He is a member of the Young President’s Organization in Washington, D.C.

    Jason Nazar is a serial tech entrepreneur, advisor, and investor with two successful exits. He was most recently co-founder/CEO of workplace culture review platform Comparably (acquired by ZoomInfo), and previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named LA Times’ Top 5 CEOs of Midsize Companies (2020), LA Business Journal’s Most Admired CEOs (2016), and appointed inaugural Entrepreneur in Residence for the city of Los Angeles (2016-2018). He holds a B.A. degree from the University of California Santa Barbara and his JD and MBA from Pepperdine University. He currently teaches Entrepreneurship as an adjunct professor at UCLA.

    Jason Nazar

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  • Free On-Demand Webinar: How to Lead Through Times of Economic Uncertainty

    Free On-Demand Webinar: How to Lead Through Times of Economic Uncertainty

    Transparency and simplicity about the credit industry, especially in a world of financial uncertainty, is exactly what Kenneth Lin’s goal was when he launched Credit Karma in 2007. Best known for pioneering free credit scores, the platform offers everything related to a person’s financial goals, from identity monitoring, credit cards, and loans — all for free. Now an Intuit (NASDAQ: INTU) company, Credit Karma serves over 120 million people across the U.S., U.K., and Canada – including almost half of all U.S. millennials. In the next Leadership Lessons episode, Lin talks with series host Jason Nazar about how he’s led the company from a team of three to 1,500 employees. Other topics include:

    Complete the registration form below to watch now!

    About The Speakers

    Prior to founding Credit Karma in 2007 as its CEO, Kenneth Lin founded Multilytics Marketing, a data-driven marketing agency that actively managed more than $40 million a year in online marketing dollars for clients such as Wells Fargo, Liberty Mutual and eBay. He has a B.A. in mathematics and economics from Boston University. He was selected to join the esteemed Aspen Institute’s Henry Crown Fellows in 2018.

    Jason Nazar is co-founder/CEO of Comparably, a leading workplace culture employee review site. He was previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named one of Los Angeles Business Journal’s Most Admired CEOs and appointed the inaugural Entrepreneur in Residence for the city of Los Angeles in 2016. The Los Angeles native received his BA from the University of California Santa Barbara and his JD and MBA from Pepperdine University.

    Jason Nazar

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  • Free Webinar | November 16: How to Lead Through Times of Economic Uncertainty

    Free Webinar | November 16: How to Lead Through Times of Economic Uncertainty

    Opinions expressed by Entrepreneur contributors are their own.

    Transparency and simplicity about the credit industry, especially in a world of financial uncertainty, is exactly what Kenneth Lin’s goal was when he launched Credit Karma in 2007. Best known for pioneering free credit scores, the platform offers everything related to a person’s financial goals, from identity monitoring, credit cards, and loans — all for free. Now an Intuit (NASDAQ: INTU) company, Credit Karma serves over 120 million people across the U.S., U.K., and Canada – including almost half of all U.S. millennials. In the next Leadership Lessons episode, Lin talks with series host Jason Nazar about how he’s led the company from a team of three to 1,500 employees. Other topics include:

    Register Now

    About The Speakers

    Prior to founding Credit Karma in 2007 as its CEO, Kenneth Lin founded Multilytics Marketing, a data-driven marketing agency that actively managed more than $40 million a year in online marketing dollars for clients such as Wells Fargo, Liberty Mutual and eBay. He has a B.A. in mathematics and economics from Boston University. He was selected to join the esteemed Aspen Institute’s Henry Crown Fellows in 2018.

    Jason Nazar is co-founder/CEO of Comparably, a leading workplace culture employee review site. He was previously co-founder/CEO of Docstoc (acquired by Intuit). Jason was named one of Los Angeles Business Journal’s Most Admired CEOs and appointed the inaugural Entrepreneur in Residence for the city of Los Angeles in 2016. The Los Angeles native received his BA from the University of California Santa Barbara and his JD and MBA from Pepperdine University.

    Jason Nazar

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  • 10 Leadership Lessons from the CEO of Redfin

    10 Leadership Lessons from the CEO of Redfin

    Opinions expressed by Entrepreneur contributors are their own.

    Buying a house as an investment or as a place where your family is going to live is as big of a purchase as many people will ever make in their lives. Seattle-based Redfin set out 15 years ago to create a combination tech company and a real estate brokerage to make the industry work better for customers and agents. The technology-powered real-estate company generated $1.9 billion in revenue in 2021 — a 10x increase from 2015. Since launching in 2006, it has saved customers more than $1 billion in commissions. Despite a volatile housing market, it currently boasts 53 million average monthly users on the website and app, serves more than 100 markets across the U.S. and Canada and employs more than 6,000 people.

    Related: Free Webinar | September 13: How To Build A Billion-Dollar Business

    For my latest episode of Entrepreneur‘s Leadership Lessons series, I had the opportunity to speak with Redfin CEO Glenn Kelman. Before joining the company in 2005, he was a co-founder of Plumtree Software. In his seven years at Plumtree, he at different times led engineering, marketing, product management and business development; he also was responsible for financing and general operations in Plumtree’s early days. Before that, Kelman was one of the first handful of employees at Stanford Technology Group, a startup that was acquired by IBM.

    “I started as a web expert, not a real estate expert,” Kelman said during our conversation. “I had no idea how to build such a large organization, but along the way, we’ve learned a lot of valuable lessons. It’s been a wild ride.”

    The Seattle-raised leader is one of the most authentic, energetic and unflinchingly honest CEOs I have ever met. He graciously shared 10 valuable leadership lessons with me during our hour-long talk:

    1. Business can be a force for good.

    Kelman describes himself as an “ex-hippie from UC Berkeley” who thought business was a force of evil as he set out to better the world post-college. How do you improve the world without some kind of business interaction? “That dichotomy made me miserable for the first decade of my professional life,” Kelman admits. But he soon realized that business is only as good or bad as the people who drive it. “An enterprise can give people a common sense of purpose, a sense of belonging and a way to express their ideas and abilities. Most important, we need the industry and commerce of humanity to solve the world’s problems.”

    Related: How This Tech Leader Found Her Voice and Took the Reins of a Major Company

    2. Find a support group that knows your value and continually pushes you to realize it.

    Kelman’s friends and family never gave up on him. “I was always encouraged and told that if this doesn’t work, I can try something else. It’s never too late to find something you really believe in.”

    3. A leader’s path isn’t always in a straight line.

    Kelman says he’s thankful for his post-college years of searching for his dream job, including writing a novel and considering a medical career, as these experiences helped develop him into the person he is today.

    4. Not everyone has to be Steve Jobs. Just be yourself.

    When a friend told Kelman, “You are not Steve Jobs,” he took it as an insult that he wasn’t as brilliant, creative and innovative as his hero. But after taking a step back from the statement, Kelman understood that what his friend really meant was, “Only a genius can be a genius. But any leader can be respectful and kind.”

    5. Focus on what customers need and want versus trying to please Wall Street.

    Investors have fickle demands. Trying to please Wall Street can tie a leader into knots. The best bet is to tell investors who you are, how you are going to make your customers happy and how that will lead to profitability. “It takes a mature person to be a good leader, because the hardest business problems are often not technical, but rather questions of the soul and heart,” Kelman says.

    Related: ‘Everyone’s Got a Story of How the Healthcare System Has Fallen Short.’ This Founder Is on a Mission to Change That.

    6. A CEO should love their company more than anyone else.

    “If someone was more ambitious for the company, or believed in our mission more than I did, how could I possibly be better qualified than that person to run the company?” Kelman asked me. If self-interest and the biggest paycheck led to you running the company you are running, there will be friction down the line.

    7. Don’t let your level of self-esteem ride up and down with the ebb and flow of your finances.

    There are always going to be times when war chests are full and other times when cupboards are bare. Your job is to get out of bed and bring the future to life, whatever the current standings.

    8. Get enough sleep.

    Remembering and tending consistently to the bottom-line fact that you’re a human and that you need things like proper sleep, exercise and time with family and friends will make you the best person you can be and — by extension ­— the best leader you can be.

    Related: What Has This 100-Year-Old Business Done to Ensure Its Longevity? Its CEO Follows These 7 Leadership Principles.

    9. We all want to be the smartest person in the room, but the best and most valuable trait for a leader is to be humble.

    “That’s a skill that’s accessible to all of us,” Kelman says. “It’s one where you can get an ‘A’ for effort. If you let other people flower, you will build a much larger and more successful organization.”

    10. A CEO should be the “great exhilarator.”

    Writer Robert Louis Stevenson’s wife compared life with him to having lunch on a volcano, but she married him anyway because he was the great exhilarator, Kelman says. “A CEO’s employees will stick with a great leader for the same reason. You can’t be volatile as a CEO, but you can be — and have to be — emotional when the emotions are big and good. You have to make the people you lead feel something big and good.”

    For more from my time with Kelman, watch the full webinar here. The growing collection of episodes from our series gives readers access to the best practices of successful CEOs from the biggest brands, including Wayfair, Foot Locker, Heineken, Headspace, Zoom, Chipotle, Warby Parker and ZipRecruiter.

    Related: The CEO of Wayfair Has Helped Revolutionize Digital Shopping for 20 Years. Here’s How He Handles Rocky Economic Conditions.

    Jason Nazar

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  • 6 War-Tested Leadership Rules to Follow During a Crisis

    6 War-Tested Leadership Rules to Follow During a Crisis

    Opinions expressed by Entrepreneur contributors are their own.

    Since Feb. 24, 2022, our usual course of work has changed dramatically. Instead of experimenting with new content formats for fun and easy learning, we had to evacuate our Ukrainian team to safe regions in Ukraine and abroad. This experience has become the most challenging crisis for our company, and the times of Covid-19 now seem only a preparation for the harsh military reality of today. But now, more than half a year after the start of Russia’s full-scale invasion of Ukraine, our team has stabilized; we had zero downtime in operations and even accelerated our growth.

    I believe decisive leadership is the secret to living through a crisis and adapting to a new reality — and my company’s managers, as well as the broader team, fully coped with this challenge. These five rules of crisis leadership have helped our core team and each employee maintain business despite the horrors of war.

    Related: I Run Two Businesses in Ukraine. Here’s How We’re Resilient Enough to Continue Operating During War

    Rule #1: Foster a culture of leadership at all levels

    Lead at all levels — that means each team member must take ownership of their work. But how do you achieve this when most people usually want somebody to tell them what to do? The answer is in the ladder of control principle described in the book Turn the Ship Around! by David Marquet.

    Its main point is to push authority to as low a level as possible by encouraging people to take responsibility, and its main secret is a slight language change your team usually uses. If your employees ask a manager what to do, all the burden lies on the manager’s shoulders. It may be easier and faster in the short term, but the team feels less responsible, engaged, and motivated in the long term. We ask people to start their requests with “I intend to…” and add relevant information so that all the manager has to say is, “Very well.” It makes a real difference. People start taking ownership, become more accountable and involved, and turn to the real driving force behind a business. This leadership strategy works at all levels — from top managers to juniors.

    By fostering moving up the ladder of control, you build a culture of leadership where leaders bring up new leaders. This rule is first and foremost; without it, we wouldn’t pass the war test.

    Related: Ownership: The Ultimate Motivator

    Rule #2: Focus on people

    All crucial business decisions and growth are the merits of the people, not a strategy or instrument. That’s why any wise leader should invest in the team, their growth and their feeling of safety to achieve the company’s growth. Research shows that psychological safety at work, when people can act and speak up without fear, is a crucial driver for employee efficiency, healthy relationships at work, and greater motivation. Ultimately, it’s the bottom line for effective decision-making.

    But a severe crisis can mess up all your efforts to build psychological safety at your company, so you must put everything that doesn’t help people stabilize on the back burner for some time and focus on supporting your team. First people, then business. Think about the most critical needs of your employees — health issues, economic challenges or even a life threat — and try to meet them as much as possible.

    That’s why we centered on people’s security during the first day of the war. We evacuated our Ukrainian team with their families to safe places in the west of Ukraine and provided them with temporary accommodation. After a couple of weeks, we relocated part of our team to Poland. After providing security to all our Ukrainian team, we launched a series of meetings with psychologists and team gatherings to share feelings and personal experiences of the war.

    All of that helped us go through and adapt to a challenging period of shock and get back to a stable mode of operation, as far as possible, under the current conditions.

    Related: Why the Ukraine Crisis Should Make You Rethink How You Lead

    Rule #3: Establish priorities and act promptly

    During a crisis, the strategies of having a long-term vision and planning for that future don’t work. You need to come up with a new tactic according to the new reality and be ready to change your plans at any time. However, it’s essential to establish business priorities and keep them focused. Sometimes, it means you need to give up some business directions or cut them down significantly, even if you’ve been working on them passionately for a long time.

    We haven’t stopped providing learning services for our customers for a single day, but our Ukrainian team couldn’t work as usual during the first week of the war. As we directed our resources and efforts toward the safety of our team members and their families, not knowing what would happen next, we held back from investing in new projects. Instead, we decided to focus on actions that would help our business stay afloat during the crisis and continue generating profits.

    Those reactive decisions helped us to go through turbulent times for business, and after a couple of months, when all operations were stable, we picked up new projects again.

    Rule #4: Practice integrative awareness and keep bounded optimism

    In other words, stay confident, don’t give up hope, but remain in touch with reality. How do you implement it in practice when you lead the company in unprecedentedly uncertain conditions and constantly feel anxious? There is no perfect recipe, but carefully observing the fast-changing reality and your feelings about it can help keep you relatively calm and not spread your anxiety to the team. According to McKinsey, this approach is called integrative awareness. It allows leaders of all levels to perceive even the most complicated challenges as issues they can solve and lessons all can learn.

    Another critical term for this rule is bounded optimism. Again, it is about being sensitive to severe crisis circumstances but keeping up a positive vision for the future and giving the team a sense of purpose and hope during the crisis.

    Related: What the War in Ukraine Can Teach Entrepreneurs About Collaboration

    Rule #5: Maintain transparent communication

    A crisis is a period when you have more questions than answers, and the best way to communicate about it is to be candid. Tell your team not only what you know, but also what you don’t know. Be clear about the current situation and your next moves to tackle it, and don’t be afraid to appear vulnerable. Though you hold responsibility for your employees, you’ll give them much more hope and support by acting like an actual human to whom they can relate.

    Eventually, acknowledging problems and openly communicating your concerns is much more effective than suppression; it allows the team to respond to emerging challenges and create fresh and potent ideas to deal with them.

    Rule #6: Adapt rapidly

    You can never completely get ready for a crisis, even if you have undergone it once. That’s why it’s important to develop several plans and be prepared for things to get out of hand. In this case, you need to get a hold of yourself, find strength and stability, and start your new plan to fight the crisis. Accepting that things can go wrong ultimately increases the level of resilience and chances to remain flexible and adaptable.

    In Ukraine, we have ascertained the truth of these words in our own experience. A couple of months before Feb. 24, the information field in Ukraine and worldwide was tense with news of a possible Russian attack. In response, our team prepared several contingency plans and various scenarios — from the most positive to the absolute worst.

    Going through a crisis with your team is a crush test and a game-changing experience for your company. And the best you can do to meet it prepared is to start cultivating leadership in your team at all levels, invest in people’s growth, and, of course, work on your awareness, adaptability, and resilience. Take such learning as a priority, and you’ll be prepared practically for anything. As Nelson Mandela put it: “Education is the most powerful weapon you can use to change the world.”

    Anton Pavlovsky

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