ReportWire

Tag: Real Entrepreneurs

  • Inside Medium Rare’s Celebrity Events Business | Entrepreneur

    The first time I spoke with Adam Richman and Joe Silberzweig, the co-founders of live events company Medium Rare, they were figuring out how their business could survive in a world shut down by the pandemic.

    In the five years that followed, they did more than just figure it out — they absolutely blew up. Medium Rare has become a powerhouse in the events space, creating festivals for some of the biggest names in sports and entertainment: Rob Gronkowski‘s Gronk Beach, Travis Kelce‘s Kelce Jam, Shaquille O’Neal‘s Shaq’s Fun House and Guy Fieri‘s Flavortown Tailgate, to name a few.

    I caught up with them as they were firing up the ovens for Dave Portnoy‘s One Bite Pizza Festival and prepping for John Summit’s upcoming Experts Only dance music festival (to be held September 20-21 on New York City’s Randall’s Island).

    The duo shared their insights and tips for building, growing and problem-solving that any entrepreneur looking to build momentum and scale can apply to their service-based business.

    Related: His Teenage Side Hustle Made $200 on a Good Night — Now the Business Earns $20 Million a Year: ‘Like Having X-Ray Vision’

    Momentum breeds momentum

    When Richman and Silberzweig first launched Medium Rare just before the Covid-19 pandemic, “no one gave a crap about us,” Richman recalls. “No one would take our call.” But after landing their first big celebrity collaborations, everything changed. “It is a domino effect — each event serves as its own sort of engine to the next one,” Richman explains. “The visibility of working with Shaq led to deals with Guy Fieri, who attended a previous event, which then led to Travis Kelce, and so on.” The guys treat every festival and event as an advertisement for what they can do.

    Takeaway: Make your work your marketing. Focus on delivering standout results for current clients, and let word-of-mouth build curiosity and opportunity for future partnerships.

    Related: 5 Essentials to Make Your Next Business Event a Huge Hit From the Creator of This Buzzy Food Festival

    Be strategic, not desperate

    Richman and Silberzweig have learned not to say “yes” to every opportunity. “We’ve had MVP-caliber athletes reach out to us, but Adam and I just kind of banged our heads against the wall and couldn’t figure out anything for this guy that we absolutely loved,” Silberzweig says. They turned down the offer, which shocked the athlete’s rep. “They said, ‘You’re the first person who has ever said no to us!’” he recalls.

    The pair says that in the early days, they would have jumped at the chance, but time and experience taught them not to force it. “There are only so many weeks in the year to plan these events, so we’ve learned to be a little bit more selective and strategic about throwing our energy into the ones we can really elevate,” Silberzweig says.

    Takeaway: Protect your time, energy and brand by learning to say “no.” Select partners and projects that align with your values and inspire you to do great work.

    Credit: Medium Rare

    Creative problem-solving under pressure

    Executing Portnoy’s One Bite Pizza Festival had enormous logistical challenges. “Everyone told us we were crazy. All of our peers in the industry were like, ‘There’s no way you can do a pizza festival,’” Richman recalls.

    Each participating pizzeria required its own specialized oven — none of which could be rented in quantity. Their solution? “We bought the ovens from restaurant supply companies new, we’ll use them for seven hours, then sell them back as used. It’s a creative rental,” Richman explains. The initial outlay topped $1 million, but they calculate that they’ll recover about 70% through equipment resale.

    Takeaway: Take “impossible” as a challenge, not a verdict. Keep pushing for creative solutions — sometimes this means reimagining industry norms or business models, or laying out capital to take a calculated risk.

    Related: These Guys Produced the Super Bowl Pre-Show Everyone Will Be Talking About

    Stay cool — and collaborative — when chaos hits

    The founders say what separates top live event producers from the rest is “how they deal with the curveballs.” Whether it’s a lightning storm, missed flights or city permits, they emphasize splitting duties and making fast, collective decisions: “We know how to put our thinking caps on and react in those situations,” Richman says.

    When Jalen Brunson and Josh Hart‘s Roommates Fest event was threatened by storms, they “got on our hands and knees” with city officials to negotiate a later start time. After securing that, they rewrote the run-of-show, coordinated with celebrity guests and informed attendees — all in under 30 minutes.

    Takeaway: Build a culture of problem-solving. Success depends not just on planning but also on reacting to the unexpected with focus and clear communication.

    The first time I spoke with Adam Richman and Joe Silberzweig, the co-founders of live events company Medium Rare, they were figuring out how their business could survive in a world shut down by the pandemic.

    In the five years that followed, they did more than just figure it out — they absolutely blew up. Medium Rare has become a powerhouse in the events space, creating festivals for some of the biggest names in sports and entertainment: Rob Gronkowski‘s Gronk Beach, Travis Kelce‘s Kelce Jam, Shaquille O’Neal‘s Shaq’s Fun House and Guy Fieri‘s Flavortown Tailgate, to name a few.

    I caught up with them as they were firing up the ovens for Dave Portnoy‘s One Bite Pizza Festival and prepping for John Summit’s upcoming Experts Only dance music festival (to be held September 20-21 on New York City’s Randall’s Island).

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    Dan Bova

    Source link

  • KneeMo Wants to Help Knee Pain Sufferers Get Moving | Entrepreneur

    Dr. Tom Andriacchi, PhD, is Professor Emeritus at Stanford University, President of SomaTX Design, and co-inventor of KneeMo, “the first smart wearable designed specifically to reduce knee pain during movement,” he told Entrepreneur. We asked Andriacchi how his company developed the product, the business moves he’s made to get it out into the world, and his best advice for entrepreneurs in the health tech space.

    Can you explain how KneeMo is different from other knee pain products?
    Unlike standard braces that simply support or compress the joint, KneeMo actively uses motion-sensing technology and vibration therapy to reduce pain in real time. The result is that people can stay active, preserve their independence, and avoid the physical and mental consequences of a sedentary lifestyle. What makes KneeMo unique is that it isn’t just an idea—it’s been rigorously developed and clinically tested at Stanford University in a peer-reviewed trial. We began with a soft launch in 2024, but KneeMo officially launched earlier this year. My role is to guide the company’s direction while making sure the science we developed translates into something useful, accessible, and impactful for people living with knee pain.

    Related: ‘What If It All Works?’: The Mindset Shift That Helped This Entrepreneur Build a $20 Million Fashion Brand In 4 Months

    What inspired you to create it?
    The inspiration came from a fundamental question: could we move beyond passive support and actually change how people experience knee pain while in motion? Given KneeMo’s distinctive design, we knew we needed to test whether it could make a measurable difference. We ran a rigorous placebo-controlled trial with patients experiencing documented knee pain. The “aha moment” came when we saw the results—patients were walking more easily and climbing stairs with less pain, sometimes after just a few steps. The improvements in function were immediate, visible, and far exceeded our expectations. That pivotal moment convinced me to devote the next decade to building a company that could take KneeMo out of the lab and into people’s lives.

    Any lessons about effective marketing you can share?
    Absolutely. First, don’t underestimate the cost and complexity of going head-to-head with established brands in direct-to-consumer marketing—you need to be strategic, not just loud. Second, with a novel medical product, education is everything. People need to understand not just what it is, but why it works. That means explaining the science clearly, sharing real patient outcomes, and pointing to clinical data. Finally, you have to justify your product’s cost compared to competitors. If you’re asking people to invest in something new, you owe them transparency about the value and impact.

    How has the feedback been from users?
    In our initial clinical study at Stanford, 95 percent of participants showed prompt improvement in quadriceps function, sometimes within just a few steps of using KneeMo. That number is powerful not just scientifically, but personally—it represents people regaining mobility, independence, and hope.

    Related: He Hated Furniture Shopping. So He Built a Business to Do It for Him.

    What does the word “entrepreneur” mean to you?
    For me, entrepreneurship is defined by innovation, motivation, commitment, and perseverance. It’s about seeing potential where others see limits, and having the grit to push through setbacks to bring that potential to life. It’s not just about creating a product—it’s about creating an opportunity for real change.

    What is something many aspiring business owners think they need that they really don’t?
    There’s a common misconception that having the absolute “best” product guarantees success. But history proves otherwise—think of VHS overtaking Betamax. In reality, qualified and experienced leadership is the most critical asset. The right team and execution can make a good product successful, while the “best” product without strong leadership often fails.

    Dr. Tom Andriacchi, PhD, is Professor Emeritus at Stanford University, President of SomaTX Design, and co-inventor of KneeMo, “the first smart wearable designed specifically to reduce knee pain during movement,” he told Entrepreneur. We asked Andriacchi how his company developed the product, the business moves he’s made to get it out into the world, and his best advice for entrepreneurs in the health tech space.

    Can you explain how KneeMo is different from other knee pain products?
    Unlike standard braces that simply support or compress the joint, KneeMo actively uses motion-sensing technology and vibration therapy to reduce pain in real time. The result is that people can stay active, preserve their independence, and avoid the physical and mental consequences of a sedentary lifestyle. What makes KneeMo unique is that it isn’t just an idea—it’s been rigorously developed and clinically tested at Stanford University in a peer-reviewed trial. We began with a soft launch in 2024, but KneeMo officially launched earlier this year. My role is to guide the company’s direction while making sure the science we developed translates into something useful, accessible, and impactful for people living with knee pain.

    Related: ‘What If It All Works?’: The Mindset Shift That Helped This Entrepreneur Build a $20 Million Fashion Brand In 4 Months

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    Dan Bova

    Source link

  • Secrets of Family Style Food Festival’s Success | Entrepreneur

    Back in 2019, Miles Canares teamed up with the creators of cult Streetwear company, The Hundreds, to co-found the Family Style Food Festival, a day-long event where killer chefs and cool kids’ clothing brands deliver a feast for food and fashion fanatics alike.

    The Festival was acquired by Complex last year, and, as it gets ready to roll out on Saturday, September 13, in Los Angeles State Historic Park, Canares shared his insights on building and growing an event brand that keeps audiences and vendors coming back for more.

    1. Think of your vendors as your headliners.

    Whether it’s your food, music, and AV, content, signage, merch, invite, or even security or cleaning crew, I always tell restaurants during my courting process that this is like a music festival, and they’re our headliners. Event producers often depend on vendors from different industries to share how they want to be briefed on the project, but the secret is to create a universal way to communicate your vision, what the user experience should be, and any other context.

    We provide chefs with a storytelling framework, content suggestions, and we even help them manage their marketing and merch creation. And why did I include security and cleaning? I learned this from my mentor, Aaron Levant, the CEO of Complex, who led the acquisition of Family Style. He would walk around his old events, and literally plot where every trash can was placed, what the security guards looked like, what the room smelled like, etc. I thought he was a freak at first, but it turns out these small details, especially as you scale up your audience, can add to larger problems or ideally to seamless execution where the people and the product are the focus.

    Related: Check out Upcoming Entrepreneur Events

    2. Find out what else your core audience is into.

    Event management is community-building, and the most important way to expand your addressable attendees is to find crossover audiences that are a fit for your offering. I noticed this early on — the same people in line for two hours at the Supreme drop were the same people in line for two hours at Howlin’ Rays hot chicken. These two crowds, while on paper are completely different in nature, blend so well together that it’s now a sub-industry of its own. Be the one to bring them together, and you’ll not only win your core audience over, but you’ll also introduce a whole new crowd to what it is you’re doing.

    3. Give your attendees bragging rights.

    People love being the first to find something. At Family Style, we love to highlight restaurants that are either brand-new or completely under the radar. Attendees walk away saying, “I found them before everyone else.” That feeling creates evangelists who promote your event or your business long after it’s over. We also sell collab tees that they can’t buy anywhere else and food dishes that exist for one event only. Think about car unveil events — they always remove the sheet. Every event can make history in little (or big) ways. This can even apply to business, networking, or trade events. Have a unique industry member speak or co-host, over a sneak peek at a product, or introduce a new team member.

    4. Post-event is where word of mouth is made.

    While pre-event is about logistics and securing attendance, if you’re looking to turn attendance into commerce and ongoing engagement, your post-event strategy is actually the largest moment of truth. Ask yourself: how can your event live after the last guest leaves, or as we say, the gates close? After Family Style, we’ll sometimes do things like have the L.A.-based restaurants run the festival-only menu items for delivery the week after, then it becomes a high-value sponsorship item. It keeps the conversation alive and extends ROI for everyone involved.

    Related: How Mental and Physical Toughness — and Fun! — Define the Multimillionaire Runningman Founders’ Success

    5. Assign one person to manage all of the visuals.

    This year, we brought in Japanese artist Verdy to lead our visuals at Family Style, and it elevated not just how the festival looks, but also how sponsors and audiences perceive it. Good design isn’t optional—it’s what makes people care. I know that for a standard company or industry event this might seem like it’s not a part of the core scope, but assigning an intentional strategy to the look of the event doesn’t have to be a big undertaking so you can delegate it to another team member and sometimes a light color or lay-out theme can differentiate it, which is the most important outcome you can achieve.

    Back in 2019, Miles Canares teamed up with the creators of cult Streetwear company, The Hundreds, to co-found the Family Style Food Festival, a day-long event where killer chefs and cool kids’ clothing brands deliver a feast for food and fashion fanatics alike.

    The Festival was acquired by Complex last year, and, as it gets ready to roll out on Saturday, September 13, in Los Angeles State Historic Park, Canares shared his insights on building and growing an event brand that keeps audiences and vendors coming back for more.

    1. Think of your vendors as your headliners.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    Dan Bova

    Source link

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

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

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

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

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

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

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

    Related: Michael Strahan Shares the Mindset That Drives His Success

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

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

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

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

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

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

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

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    Dan Bova

    Source link

  • How This Unique Coffee Cafe Is Brewing Success | Entrepreneur

    How This Unique Coffee Cafe Is Brewing Success | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Jeni Castro is the founder of Coffee Dose, an eclectic cafe with five locations in Orange County, California. Read on to learn how she built a brand that delivers an experience like no other coffee shop on earth.

    How did you get into the coffee business?
    I’m a serial entrepreneur. I started Coffee Dose six years ago after franchising my previous company. It was a tanning and waxing brand, so I always joke that I went from vaginas to coffee. I’m a master connector, and I was trying to connect different small coffee operators in my area to link up with my friend who was opening a hair salon. I thought it would be a great concept to have coffee and hair. Well, that didn’t work out and I couldn’t find anyone interested in taking an 85-square-foot coffee bar, so I thought, well, I can brand anything and sell anything so let’s try coffee! And that’s how Coffee Dose was born. I had no coffee business experience at all. But as the serial entrepreneur does, I figured it out. Fast forward to today and we have five locations and we’re getting ready to hit our next growth phase and we’re looking for a big strategic partner.

    Related: This Couple Cashed in Their 401ks to Launch a Virtual Business — Here’s How It Led to a 9-Figure Exit and Co-Owning 2 Professional Soccer Teams

    What’s different about Coffee Dose?
    And we are a very fun coffee brand. Our original latte is called “Anti-Bitch Serum.” Our flagship has what we call “the diner experience.” You walk in and it’s this pink and teal look. Everything is made fresh daily and many of our lattes have health aspects like turmeric, collagen, and charcoal. We call ourselves vibe dealers because we are essentially drug dealers. We’re giving the community drugs all day long. We have people that come back for multiple drinks in a day, and I didn’t want people to consume just a bunch of crap like what’s currently out there in the market. Like Starbucks, imagine drinking that twice a day, seven days a week? It’ll kill you. So I wanted to make really good coffee with really good ingredients and serve delicious food in a fun space. Honestly, it’s just a fucking vibe.

    Photo credit: Mike Carreiro

    Have you had “real jobs” before going the entrepreneur route?
    I’ve basically been an entrepreneur my whole life. I mean, I’ve worked for people, but I’ve been fired from pretty much every job. I worked for George Biel, who owns all of the Gulfstream and Hillstone restaurants. I was always trying to rework how they managed the staff. I worked there for seven years and I was let go because, honestly, they were just tired of talking to me. And so I always had dreams of doing my own thing. I really love branding — taking something that could be super simple or something that we use every day and putting a spin on it that makes it special.

    Related: After Noticing That Dogs Had Better Fresh Food Options Than Babies, This Couple Started a Business. Now They’re Running the Fastest-Growing Kids Meal Delivery Company in America.

    What are some of the challenges of starting your own coffee shop brand?
    We’re very disrespected in the coffee industry. And that’s okay! The coffee community is very small and male-dominated. It’s comprised of operators who are diehard baristas — they know every aspect of every piece of equipment and travel to meet the farmers roast growing their beans. I’d like to do that one day, but right now I am focused on getting people through the door. So to do that, I knew we had to be exceptional. I would hate to come out and have people say oh, well, you know, she’s not a coffee person and her food sucks. So I had to go one step further and just blow it out of the water. Our food and drinks are amazing, and when you order your eggs and toast, they come on a plate that says “Fuck mornings.”

    What’s your outlook for this growth phase?
    I’m really stoked to find the perfect partner because I want these everywhere. It’s going to be a global brand and I feel like I’ve only just begun but I’ve been working my ass off for the last six years. Someone once said that it takes 10 years to become an overnight success, and I feel like I’m living that. I would like to own and operate as many shops as I can for as long as I can. We’ve already talked with some very prominent VCs to lay out the path of what an exit looks like down the road, but it’s hard to even talk about that because I’m having so much fun right now.

    Related: This Entrepreneur Wants to Turn Every Home Into an Urban Farm

    Any advice for entrepreneurs facing tough decisions?
    When it comes to decision-making, I’m like the Magic Eight Ball. Just shake it, see what the answer is and go for it. I love to take chances. I’m a risk taker. I’m a big dreamer. I’m also a manifester and I believe in all that crazy shit. If you think it, it will happen. Whether it’s just me believing my own bullshit, I don’t know. But it works for me. My husband thinks I’m crazy — I’m always sending him inspiring podcasts and quotes from books. But I think for real entrepreneurs, we all live in that space, right?

    Have you had any impactful mentors along the way?
    One of my biggest mentors is Alli Webb, the founder of Drybar. She’s been a really close friend and a really great mentor. She’s a visionary founder who believes that as long as you put the right people in place, you can grow and run a successful company. It’s very refreshing to talk to someone who has been through that. She’s worn many hats and came from nothing — she just had an amazing idea. I love surrounding myself with people like that.

    Photo credit: Jordan Shiley

    What are some of your passions outside the walls of your coffee shop?
    I’m a mother of two. I have a five and a seven-year-old there. They’re super fun. I’m a professional eater and a professional hotel stayer. I love to travel and that helps keep me motivated. I could work 18-hour days for months straight as long as I know a trip is on the horizon. If the trip is planned, I’m good. Oh, and I listen to murder podcasts. Last night I was at the flagship store, installing something late at night. It was dark and I’m listening to the details about some grisly death and I’m like, ‘What am I doing? This is horrible!’ I think I love the abuse. Working with caffeine and listening to murder podcasts is not a recipe for a good night’s sleep.

    Dan Bova

    Source link

  • This Online Sports Betting CEO Knew It Was Time to Take a Big Risk | Entrepreneur

    This Online Sports Betting CEO Knew It Was Time to Take a Big Risk | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    I’m Adrian Vella, CEO of Tipico, a global sports betting and iGaming operator. I’m originally from Malta, one of the smallest European countries, but from a young age, I envisioned something bigger for myself. I lived all over Europe, from the U.K. to Switzerland, and worked my way up by learning all areas of the sports betting business, from finance to data analytics.

    I began my journey at Tipico in 2014 and moved to the United States in 2019 specifically to spearhead the launch of the Tipico U.S. platform. Since our initial launch in New Jersey, we have been active in four states, taking a hyperlocal approach to drive first-time platform deposits and establish long-term customer loyalty. We are the only online casino and sportsbook in the U.S. market that has built its proprietary greenfield tech stack from scratch.

    Related: When He Tried to Buy and Develop a Distressed Shopping Center in Baltimore, He Found an 80-Year-Old Legal Covenant That Banned Black Ownership. Here’s What He Did Next.

    What inspired you to create this business? What was your “aha moment”?

    When the U.S. Supreme Court struck down its federal sports betting ban in the spring of 2018. We had witnessed explosive market growth and the industry’s cycles of maturity in Europe, and we foresaw the United States was on a similar trajectory. We also recognized that many players were scaling rapidly to acquire customers with white-label technology. We took a different approach, taking the hard steps to localize our technology as we had done in Europe. We had to act fast, but we also wanted to do things the right way by strategically entering certain states and developing our technology in-house. This philosophy of balancing speed and strategy in an unwavering commitment to the customer is one we still swear by today. For us, it’s a marathon, not a sprint.

    What has been your biggest challenge and how did you pivot to overcome it?

    Moving from Malta to London was a difficult decision. It was a leap of faith, and at the time it was impossible to feel fully convinced I was doing the right thing. But I realized having this appetite for risk and making the necessary sacrifices would change my life. I overcame the uncertainty by embracing the discomfort, building strong working relationships, creating some semblance of work-life balance, and convincing myself this was my purpose. All my past experiences helped me transition and prepare for my new life in the U.S. This is a completely new culture and business landscape, but I’m adapting well!

    Related: He Left a Steady Corporate Job and Turned His Music Passion Into a Thriving Audio Tech Company

    What advice would you give entrepreneurs looking for funding?

    Emphasize to investors exactly what problem you’re solving and what aspect of society you are improving. Highlight your niche and why you are different from the rest. Know your numbers — your revenue and growth and P&L figures — like the back of your hand. If you are in your early, pre-launch stage, give investors something they can feel and experience in your product or service, like a prototype or beta version.

    What does the word “entrepreneur” mean to you?

    Many things. It means being an innovator. You’re a risk-taking, problem-solving, and passionate individual with an idea who wants to drive it forward and present it to the world. It means leading and inspiring people with your unique vision. It is not for everyone, and you need a thick skin and the ability to embrace failure and work through the ups and downs. Even before Tipico, I’ve always had an entrepreneurial spirit and that compelled me to take on the CEO role.

    Related: How the Founders of SpaceIt Are Re-Building the Way Real Estate Brokers Do Business

    What is something many aspiring business owners think they need that they really don’t?

    I’ve seen many aspiring business owners who are convinced they need to start with an enormous sum of money for security to back them up. But it could have been easier if they started by putting something into the market in an agile way. I also see people with so much potential to be great, and a desire to put their ideas out in the world, but they never do because they assume an incredible idea will just hit them like a lightning bolt. This is rarely how the journey manifests itself. Failure is part of the process, and I would encourage aspiring business owners who are on the fence about taking the leap to think less and do more.

    Is there a particular quote or saying that you use as personal motivation?

    “Knowledge without action is meaningless.” — Abu Bakr

    This quote deeply resonates with me. I am a proactive individual who thrives on continuous learning and nurtures an unyielding sense of curiosity. I’m always the guy asking a million questions when I’m trying to absorb new information. I firmly believe that the true value of knowledge is unlocked when it is coupled with action.

    Tipico has seen years of success and market share growth in Europe, but we did not stagnate. We took what we learned and brought it to the booming, crowded U.S. market. Our perspectives remain futile unless we transform them into tangible outcomes through the process of learning from our failures and, most importantly, taking purposeful actions based on that knowledge. At work and in my personal life, the only regrets I have are from the times when I didn’t put things into action — when I didn’t go for it.

    ?is>

    Entrepreneur Staff

    Source link

  • Inside Gretsch Guitars’ Growth Strategy | Entrepreneur

    Inside Gretsch Guitars’ Growth Strategy | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what is your business?

    I am Jason Barnes, Vice President of Gretsch Guitars at Fender Musical Instruments Corporation.

    Can you give a picture of the guitar business over the past few years?

    Before the pandemic, the industry experienced steady growth with an influx of new players entering the market. Sales witnessed a remarkable surge during the pandemic due to lockdowns and stimulus measures, driving an unprecedented demand spike. Since late 2021, the market has been gradually cooling, experiencing a correction phase that is guiding us back toward market normalcy.

    What kinds of instruments are people interested in now?

    In the post-pandemic landscape, electric guitars and basses in the $400-$1,000 range have seen a decrease in demand, whereas products priced at $2,000 and above have maintained their strength. We attribute much of this shift to macroeconomic factors, with consumers reallocating their discretionary spending from goods to services like travel and entertainment.

    How has the customer for guitars changed?

    Overall, we’ve observed a rising diversity among players, coupled with a notable uptick in beginners over the past five years or so.

    What is the Gretsch strategy? Who is it going after and why?

    At Gretsch, we harness our strengths to generate value through distinctive sound and style. The player base represents a dynamic mix of genres, cultures, aesthetics, and more. In this ever-evolving landscape, having a unique voice and presence is vital for musicians. Our primary focus is on musicians who are actively seeking empowerment in their musical identity. We provide them with unparalleled value characterized by our unmistakable sound and style.

    Related: He Left a Steady Corporate Job and Turned His Music Passion Into Thriving Audio Tech Company

    How does creating a learning app play into your sales and marketing strategy?

    FMIC is committed to fostering long-term engagement among new players, a mission exemplified by the Fender Play app. Studies indicate that once beginners overcome the initial 90 days of learning, they are more likely to persist in their musical pursuits. Fender Play serves as an invaluable resource for both novice and experienced players, aiding them in their ongoing musical development. Although the app doesn’t directly feature in our sales and marketing strategies, its purpose is to cultivate and sustain players’ enthusiasm as they continue their musical journeys on any brand within the FMIC portfolio or industry-wide. Regardless of how players are learning or entering the ecosystem we want to ensure Gretsch has an offering for them at any stage in their musical journey.

    Credit: Jason Barnes, Vice President of Gretsch Guitars at Fender Musical Instruments Corporation

    Dan Bova

    Source link

  • How to Create Customer Love in a Category That People Hate | Entrepreneur

    How to Create Customer Love in a Category That People Hate | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what is your business?

    Ed Evans, CEO of Consumer Cellular. I joined the wireless industry in 1986. It’s been an amazing ride. In the beginning, there was no text messaging, just plain old voice service and it was expensive. I am very proud of what our industry has accomplished, and I am certain we are still only in the beginning.

    What is your leadership style?

    I firmly believe in truly understanding all aspects of the business. It’s not about sitting in a boardroom; it’s about diving headfirst into our daily operations. Part of my daily routine is monitoring sales and customer service calls into our call centers. I gain priceless insights into our customers’ needs, their pain points, and the very challenges our employees face day in and day out. Understanding the difference between what you think is happening and what is actually happening is critical. You will hear things on phone calls you don’t like. Sometimes we don’t get it right. These are great opportunities to correct course. Post-Covid as international travel really opened up, we were hearing from some customers that we weren’t providing a great experience when they traveled abroad. Based on those calls, we set up a focused team of experts dedicated to making international roaming go smoother.

    Related: Watch the latest episode of “Entrepreneur Elevator Pitch” now

    Your business is nothing without the customer and their happiness. Being aware of your customer’s concerns and understanding the quality of your customer service ultimately allows you to stay in touch with the heart of the business. Everyone in the company must share this basic understanding.

    How do you differentiate yourself in a crowded industry?

    Our company is built on human connections. It’s why our call centers are all based in the US and our employees are incentivized to give customers the best possible experience. Sometimes that can be a quick answer to a billing question and other times it can be a 15-minute run-through of all of the best features of the Apple Watch. We recently began opening stores across the country (25 by the end of the year) to extend this high level of service face-to-face. Our stores aren’t just places to buy phones; they’re hubs of engagement where customers can interact with our knowledgeable staff, get personalized solutions, and even a free cup of coffee. Our core customer is 50+, they have more freedom than anyone else (no mortgage, kids in the house, etc.) and we are a company that understands these needs – so we do everything possible to make communication and technology easy for them.

    Related: The First Female RV Company CEO on Bringing Ultra Luxury to Land Travel

    What is your biggest piece of advice to entrepreneurs?

    Employees are your greatest assets. That’s why one of our core values is Happy Employees Make Happy Customers. It’s vital to recognize and reward their hard work. We’ve partnered with the University of Arizona Global Campus to offer all our employees the ability to earn a tuition-free degree.

    When your employees are content and motivated, they naturally deliver top-notch service to your customers. It’s a simple equation: happy and motivated employees equal satisfied and loyal customers.

    I would also stress the importance of partnerships. Our partnerships with organizations like AARP and USAA are built on shared values and missions. We’re not just shaking hands for the sake of it; we align our research and resources with these partners to better understand our customers. Teaming up with like-minded individuals and companies builds trust within the industry and resonates with your audience. It’s a win-win for everyone involved.

    Related: How This Wife and Husband Team Turned Their Hobby Into a Thriving Business

    Have any mentors had a big effect on your career?

    I have been fortunate to have had great mentors in my 35-plus years in the wireless industry. I learned from the late Stan Sigman, AT&T Wireless CEO, to “inspect what you expect”. Denny Strigel, Verizon CEO, was a great influence on my management style. Denny set very clear expectations and held people accountable. I worked directly for Odie Donald, BellSouth Mobility CEO, and learned the importance of diversity and people skills. Odie was the best I have seen at motivating people.

    Entrepreneur Staff

    Source link

  • One Doctor’s Sleep Solution to Get Happier and Healthier | Entrepreneur

    One Doctor’s Sleep Solution to Get Happier and Healthier | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    I’m Dr. Lloyd Glauberman, a Manhattan-based psychologist in private practice specializing in the treatment of anxiety, mood disorders and relationship issues. Seeing firsthand how many psychological problems are caused or exacerbated by poor lifestyle choices, I sought to create a language for “health and wellness,” which would clarify and energize people’s commitment to themselves. This resulted in the development of Lifestyle Intelligence (LQ). To teach this new language, I created the LQ app, a cutting-edge program designed to give you a deeper understanding of your cognitive and behavioral patterns in order to make the necessary changes needed to live a healthier and happier life.

    What inspired you to create this business?

    I realized years ago that the way we think about health and wellness is broken. If it wasn’t, why would nearly half of U.S. adults be on track to be obese by 2030? The current system isn’t working, period.

    My true “aha” moment was when I read a study about brain health and sleep and learned that the brain cleans itself while we’re sleeping. I thought that this incredible discovery would be the catalyst that would “‘wake people up,” no pun intended, to take sleep more seriously and lessen the possibility of developing dementia in later life. But nothing changed, and I realized something had to be done. And while the whole ecosystem of LQ is vital to our health, our relationship around sleep is the centerpiece.

    If I could change one thing right now to improve our societal LQ, I would have all public middle schools and high schools start no earlier than 9 a.m. Children need a lot more sleep than adults do. So why are we knowingly harming the health of our children by programming sleep deprivation into their lives?

    Related: Watch the latest episode of “Entrepreneur Elevator Pitch” now

    What was your biggest business challenge and how did you pivot to overcome it?

    Introducing the concept of LQ was challenging because I am asking people to look at health and wellness in a totally new way. Part of the process was structural, figuring out how to deliver the content so it would stick. Sure, I could write a book, but the issue with going this route was the likelihood that people would skim through it and not retain enough information to catalyze deep understanding and ultimately lasting behavioral change. So, I created an app. This way I could build a relationship with the listener and guide the learning process so as to maximize the possibility of long-term success.

    However, I still had to figure out a way to deliver the information so it was adequate enough to generate a slow-down but would still appeal to the modern learner’s familiarity with technology. Ultimately, I landed on 3-minute daily tracks that didn’t allow the listener to speed up the learning and evolutionary process. While it takes longer for people to do the work necessary to begin improving their LQ, the feedback so far from those who have stuck with it has been positive.

    What advice would you give entrepreneurs looking to launch an app?

    Don’t be afraid to launch. Be okay with imperfection. Listen, learn, and adjust. First off, you have to believe in what you are doing. If you just want to make money, then you are most likely going to be disappointed because you need passion to stick with the process. Second, you need to anticipate a lot of slow, intermittent changes. You’ll take three steps forward and one step back almost the entire time. But you must have a plan to avoid analysis paralysis. It’s a cliché, but you could go down the tinkering and revision rabbit hole forever. Incremental improvements are key to app development as well as to Lifestyle Intelligence.

    Related: The First Female RV Company CEO on Bringing Ultra Luxury to Land Travel

    What does the word “entrepreneur” mean to you?

    An entrepreneur is someone who is willing to take risks and willing to fail. And when you do, which I have learned is an inevitable part of starting a business, you must have the strength and motivation to get back up and keep moving forward.

    What is something many aspiring business owners think they need that they really don’t?

    It may be counterintuitive, but unwavering confidence is actually something you don’t need. It is more than okay to feel insecure at times. In fact, it’s both normal and inevitable. You’ll actually grow your confidence and resilience when you understand this ebb and flow process. This sequence also helps with decision-making. You’ll be more open to feedback, and you won’t be held back by your ego. It’s a sign you actually believe in yourself and what you’re introducing to the world.

    Related: How This Wife and Husband Team Turned Their Hobby Into a Thriving Business

    Photo credit: Dr. Lloyd Glauberman

    Entrepreneur Staff

    Source link

  • How Three Friends Built a Business That Helps Indie Winemakers Thrive | Entrepreneur

    How Three Friends Built a Business That Helps Indie Winemakers Thrive | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    I’m Patt Eagan, one of the co-founders of Common Wealth Crush. We are a winery operation for winemakers in Virginia’s Shenandoah Valley — a custom crush meets incubator meets think tank cooperative. We offer a range of winemaking and related support services tailored to anyone from independent winemakers who need a production facility to brand owners who need full-service support.

    What made you want to do this?

    My co-founders Ben and Tim Jordan had the initial kernel of the idea after their experience of getting their own small family brand up and running. We realized that our state didn’t have a facility that was really geared toward the individual winemaker. A place where they could come in, utilize our tanks, equipment and expertise, and also call their own shots. We developed the idea while I was getting my MBA at UVA, and we opened shortly after I graduated. For me, it was a perfect mix of having a passion for wine and also wanting to be part of building a business from the ground up.

    Credit: Common Wealth Crush

    Can you talk about balancing the “new and innovative” aspects of your business with the history of the industry?

    We set up in the historic Virginia Metalcrafters building, which is an important part of Waynesboro and Virginia manufacturing history. In fact, it’s on the US National Register of Historic Places. We appreciate being part of a long line of Virginia craftspeople who have occupied this space. It just feels right. And our overall business model took inspiration from Carlton Winemakers Studio in Oregon, Punchdown Cellars and Grand Cru Custom Crush in California. We’re proud to be part of a long tradition of community-focused facilities around the globe that have proven invaluable to the survival and growth of small producers. We were proud to receive Waynesboro’s first Agriculture & Forestry Industries Development Fund grant award.

    Related: Watch the new episode of “Entrepreneur Elevator Pitch” now

    How many wine brands are you working with now?

    Right now we have eight companies and as we look to expand, we’re striving to be a force for supporting more diverse representation within the wine industry. We’re launching a winemaker incubator program this coming harvest, designed to foster and support communities that lack representation in Virginia wine. To help jump-start these projects, we’re waiving the typical winemaking fees associated with the first year of production in our facility.

    What are some of the biggest challenges you and winemakers face?

    So principally I would say that the financial aspect of the wine industry is really difficult. It’s a tough slope to climb. It is a huge financial burden for small producers to build their own facilities. It’s a big hurdle to clear and what our model is actively trying to address. We take on those fixed costs and clients are then paying us based on the tons of fruit processed and things like that. The other big hurdle is the complexity of regulation within the industry, permitting, the nuances of marketing, the three-tier system with distribution versus direct sales, and so many other things.

    Related: How These Entrepreneurs Created a Must-Visit Destination for Art and Wine Lovers

    What do you advise people looking to get into the wine industry?

    It is funny, there’s this juxtaposition of the relaxed romance of the industry versus when you pop the hood and look inside at the complexity you have to navigate. I think that’s the reason that winemaking attracts people from so many different backgrounds — it’s like this Rubik’s Cube that you can’t help but enjoy solving.

    Credit: Common Wealth Crush

    Dan Bova

    Source link

  • How This Couple Turned Their Hobby Into a Big Business | Entrepreneur

    How This Couple Turned Their Hobby Into a Big Business | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    Brynn McLeod: We are Brynn and Antoine McLeod, the husband and wife team behind STREX Fasteners, a system that makes the process of covering a boat much easier and faster. We’re originally from Anchorage Alaska. We met and started dating in high school over 20 years ago and have been married and business partners for nearly 10 years.

    Antoine McLeod: Now we live on a lake near Seattle and when we’re not working, we’re typically on our boat with family and friends. We came up with STREX Fasteners because we were tired of the old way of putting on our boat cover when we were done having fun on the water.

    What inspired you to create this business?

    Brynn: We thought that there just had to be a better way to cover a boat. Pressing on and snapping in dozens of metal buttons not only took forever but was also very painful on my hands and fingers.

    Antoine: Once we realized that there was really nothing on the market that addressed this common problem we knew that this was a great opportunity. We started working with Brynn’s father, who is an engineer, on different designs and after testing out several prototypes finally landed on the STREX Fastener design that we offer now. The best thing about our patented design is that they are very durable yet flexible and they make covering a boat super easy.

    Brynn: And we are currently working on several new products that utilize our one-of-a-kind STREX systems: a universal pontoon boat cover with integrated poles that circumvents the need for costly custom canvas covers and eliminates the hassle of crawling underneath the boat to attach it. The other is an OEM design that would provide new covers with the same benefits as our retrofit product.

    What advice would you give entrepreneurs looking for funding?

    Brynn: I’d say to first start with friends and family. If you have an idea that you believe in and a business plan that clearly shows how you intend on returning their investment chances are you can find someone close to you willing to help.

    Antoine: These days there are several Venture Capital and Angel Investor online platforms that can help just about any type of business find funding. I recommend doing your research and trying to find an investor that not only meets your financial needs but aligns with your vision as a brand or company. Once you have identified a good investor that matches what you’re looking for, provide them with your pitch deck and arrange a meeting. From there it’s up to you to deliver a compelling pitch.

    Related: Watch the new episode of “Entrepreneur Elevator Pitch” now

    What advice would you give for preparing for a pitch meeting?

    Brynn: The key to a great elevator pitch is to keep it short and to keep their attention.

    Antoine: Practice your elevator pitch over and over again until it becomes second nature to deliver. Then, after you have perfected it, practice your pitch some more.

    How did it feel the first day you opened for business?

    Brynn: I was super excited once we finally launched our product. Just to think about all the progress we made from the early days of creating prototypes to seeing our final product in its packaging ready to be delivered seemed surreal. Once we started getting orders and sending products out, it finally set in that we did it.

    Antoine: I was nervous about everything. Was our website working correctly? Were our ads performing well? So many different things could go wrong. There’s definitely some self-doubt that sets in because you wonder if your idea is really good or not. But it’s in times like those that you just have to believe in your process and trust that all of your hard work will pay off.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    What was your toughest challenge and how did you overcome it?

    Brynn: Being the new guys in the industry. Most people in the boating business know of each other from different trade shows and marine organizations. We literally had to start from scratch and try to develop relationships with as many professionals in our line of work as we could. What we have found is that most people in our industry were more than willing to help out newcomers like us. It really just took us getting out of our comfort zone to set up meetings and cold call anybody that we thought or hoped would listen to what we had to say.

    Antoine: There are so many moving parts that come with this kind of endeavor from handling logistics to payroll to customer service and countless other responsibilities. When you start thinking about all the things you have to do just to get up and running its remarkable that anyone starts a business at all. What I have found helpful is to prioritize keeping everything about your business hyper-organized so that you can feel that you are in control of things while being more productive and hopefully a little less stressed out.

    What does the word “entrepreneur” mean to you?

    Brynn: Self-starter. Someone who is adventurous and willing to take big risks.

    Antoine: Free thinker. Someone with big ideas and the guts to pursue them.

    Related: How the Founders of SpaceIt Are Re-Building the Way Real Estate Brokers Do Business

    Is there a particular quote or saying that you use as personal motivation?

    Brynn: “Do what you can, with what you have, where you are.” That’s Theodore Roosevelt. I love this because there have been so many times in my life that it’s been really easy to make excuses like “We don’t have enough money or experience to pull this off.” This quote reinforces to me that it’s not about your resources but your resourcefulness.

    Antoine: “You miss 100% of the shots you don’t take.” — Wayne Gretzky. This quote always inspired me to not fear or shy away from failure. I believe that athletes and entrepreneurs have a lot in common including failing often. In business and in sports failing is a part of the game, and those who win are usually the ones who keep trying until they achieve success.

    Dan Bova

    Source link

  • All You Really Need to Launch a Business, According to This Art Book Entrepreneur | Entrepreneur

    All You Really Need to Launch a Business, According to This Art Book Entrepreneur | Entrepreneur

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    My name is Kim Bjørn, designer, musician, author, and CEO and founder of Bjooks, a Danish boutique publishing company, operating worldwide creating hardcover books on music technology, artists, and makers. Since 2017 we’ve published only seven titles, but have sold tens of thousands of them all over the world, to world-known recording artists as well as hobby musicians, students, and nerdy tech people admiring a good old physical book. We’re known for packing inspiration and information into beautifully designed books that no one saw coming.

    What inspired you to create this business?

    After years of teaching interface design, and also playing music, I started asking myself “Why do these electronic instruments and interfaces look the way they do?”. There has been very little tradition and a lot of invention in this area of electronic instruments (unlike acoustic instruments like the violin for instance, which has looked and worked pretty much the same for centuries). So I started “collecting” images of instruments and interfaces, driven by my curiosity and the fact that I couldn’t find any literature about this. I guess that was my aha moment: No one had created what I wanted to have, so I had to create it myself; a book about interface design in electronic music.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    What has been your biggest challenge and how did you pivot to overcome it?

    My biggest challenge was that I didn’t believe enough in myself. It took years with sketches in the drawer until finally there was a window of opportunity when the legendary electronic artist Jean-Michel Jarre came to Copenhagen. A friend of mine had a connection, so I would be able to meet with him for 15 minutes. I decided that that was my moment: I wanted Jarre (my childhood hero) to write the foreword, and I wanted to know what he thought of the idea. But I only had a week to create a mockup of the book cover, sample pages, and a description of the project.

    After working around the clock, when we finally met, he loved the idea and there was an instant connection. As soon as he was onboard, the rest was much easier. I had belief in myself and the project became all fired up. I kind of started out in blue ocean, as it was the first well-illustrated book on this topic, and no one had ever seen this kind of book for a worldwide community coming. However, there was a worldwide niche. I never thought I’d make old-school hardcover books for a living, but even in these hi-tech times, I believe people treasure physical objects even more — especially when they’re well-made and when a lot of passion has been poured into them.

    When it comes to tapping into creativity, do you have any methods that work for you to break through writer’s block?

    Yes! I have to say, I blocked several times during the creation of my first international book — what if it was a crazy bad idea?! However, at some point, I said to myself: “You know what? I will regret it to the end of my days if I don’t give this a shot.” So I made a yellow note and stuck it to the top of my computer screen with this sentence: “Just write it badly!” I realized I just had to write something, and that I could always correct it, delete it, write something else, and so on. This way, at least I got something down, and many times it didn’t read that bad after all.

    
Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What advice would you give entrepreneurs looking for funding?
    Regarding where to look, I’d recommend crowdfunding as you get instant validation of your idea. However, create a community first, then launch the campaign. When you have social proof you can always go to investors for your next product. Remember, this doesn’t necessarily need to be “that” million-dollar idea – it may very well come after you get some experience under your skin. I’ve never had red numbers, never owed anything in the company. I also created a concept of working with brands that then funded part of the books.

    In terms of preparing for your pitch, know your numbers inside out. Check the competition and be thorough in your research — you want to be sure you’ve not missed something obvious. Be humble (I know; it’s a Scandinavian thing). I’ve often seen people believing that they’ve created something the world has never seen before, being cocky about it, only to lose all credibility because they hadn’t done their work properly. Part of that is researching and knowing who you’re talking to. Always be grateful for the time people spend listening to you and your crazy dream — especially when they start actually buying your products!

    What does the word “entrepreneur” mean to you?

    Hard-working, self-made, creative, and innovative spirit — with a burning desire to make the world a better place no matter how small or big your idea or world.

    What is something many aspiring business owners think they need that they really don’t?

    Honestly? Investors and a plan. I see way too many people who think that this is the only way to get something started, to grow, or to reach the dream. What you really need is discipline, resilience, and an honest, objective look at yourself and your idea. Then you have to be flexible and willing to reach your goals in other ways than you first imagined. Things seldom happen the way you plan them to happen.

    Is there a particular quote or saying that you use as personal motivation?

    “Just do it!” We all know where this comes from, and I’ve always loved that quote. It doesn’t get any simpler than that: Not in the mood? Just do it. No money or education? Don’t let that stop you. Not sure if you’re gonna make it? Just. Do. It. It’s the only way to learn what not to do. It’s the only way to get closer to your dream. Just take one step at a time, and one day you’re there – even if you’ve walked backward a few times, stepped on something, or walked down wrong paths. Just write one word, one sentence, one page, and suddenly one day there’s a whole book, maybe even a whole life. It’s really that simple.

    Entrepreneur Staff

    Source link

  • Entrepreneur | Four Things Entrepreneurs Don’t Need, According to This Outdoor Adventurer and Creative Founder

    Entrepreneur | Four Things Entrepreneurs Don’t Need, According to This Outdoor Adventurer and Creative Founder

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)

    Who are you and what’s your business?

    My name is L. Renee Blount. I am a professional athlete, (@urbanclimbr on Instagram), and founder of WndrHaus, a full-service creative house where whimsey, brand strategy, production and storytelling meet. We work to illuminate untold stories and rethink the future. Our biggest clients are interested in tapping our passion to showcase joy, flavor and adventure amongst underrepresented groups, as well as go-to-market strategies for campaigns.

    What inspired you to create this business?

    Very simply, my love for the outdoors and the creative realm, and not seeing many of “me” represented out there. Meaning, three things:

    1. A black-owned and women-owned business where I am a rarity in both the outdoor and creative consulting businesses (product and brand specifically).

    2. Ownership to open doors not just for myself in these industries but for others as well. I hire an all-women crew whenever possible for my assignments because I know that in my personal experience, I have been overlooked simply because “a man can carry more equipment” on certain expeditions, where I knew I should have been chosen and could have produced even more amazing content for those companies.

    3. I love the behind-the-scenes action. It’s often not the most famous people who are moving and shaking things. It’s those who are connected and provide a business case as to why it matters. I want to play in this space for a long time. Since my time working in brand strategy & innovation, I rarely have seen people who look like me, which illuminates the structural issues to get here, but importantly highlights. There’s so much room to do really rad and epic things that are different. I bring a different energy and such different perspectives from my peers – and more importantly, an exuberance that I am really proud to take ownership of. I truly believe in what I am doing and want to make sure I’m a gate opener, rather than a gatekeeper.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    I didn’t get to play a ton of sports or camp growing up, but I did attend a high school that was deeply concentrated on the arts, which was instrumental in many ways in getting me where I am now. I pursued a graduate degree in architecture at Harvard, which transitioned into a career as a creative director where I could marry my love for the outdoors and creativity while having an impact in representing the underrepresented through my work and in my community. Because I wasn’t seeing marketing campaigns and ads that reflected me or who looked like my friends, I wanted to change not only that but also make climbing more accessible to people of color who normally don’t have access due to financial limitations or not having the opportunity culturally. I know that I have a special gift for making content more accessible to the everyday person, and showing more joy and flavor in my work.

    What advice would you give entrepreneurs looking for funding?

    It starts with relationships and having a vision. It’s a game of hustle, where I keep learning and maneuvering wherever possible. It’s about being able to learn on the fly, being respectful yet persistent and pleasant, staying nimble with the changes and being willing to fail – but learning how to fail forward. For example, someone with more resources than I do will have a bigger window to fail. For someone with fewer resources, we have to figure out how to make the window of possible failure shorter because you might not have as much fallback. You have to think about what you’ll do if it doesn’t go well, and have a cushion to take a risk like having enough savings and the right timing.

    What does the word “entrepreneur” mean to you?

    Entrepreneurship is leaving a legacy like nothing else. By helping to create a new set of rules, a new playbook, and a new flow that adds to the lexicon of what is happening and how we can progress forward. As an entrepreneur, it means we exist to serve one another, not just our pockets. It is being a steward of trust and decency to your partners. More importantly, you have the ability to hire and uplift others, especially your community, which is powerful.

    
Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What is something many aspiring business owners think they need that they really don’t?

    Simply, I went to too much school. As a first-generation student, I thought it was the ticket. With little guidance, I was book-smart and was not cognizant of other avenues. I didn’t know they existed. Hence, I believe in seeking out people to converse with now constantly to illuminate what’s possible and understand much sooner.

    When people ask me about the graduate school path and often ask about Harvard, I really ask what their reasonings are. I ask them about their ROI and what that adjacency will really do for them. For some, it makes sense, for many it absolutely does not, especially if they have a full-ride elsewhere (It also depends on the degree. I don’t believe in going to high debt for lower-income yielding fields). It’s about financial mobility especially when you have access to fewer resources. I could wax poetic on that longer!

    As someone who comes from a single-parent household, I’m filled with gratitude that I’ve been able to navigate this path. It’s been far from easy. There’s a lot I’ve had to do to learn. And THAT I can never regret. Information is such an unlock. Getting coffees with the executives you’d like to be can shave off so much time – and money too.

    Other things you may not need:

    • A grandiose vision: Maybe you want to solve something that’s simple. That’s what it was in my case initially. I didn’t see myself represented out there and because I came from brand strategy & innovation, the solutions seemed obvious to me. And I could speak to it.

    • Lots of voices: Go for it. You may not hear validation for a while and that’s okay if you’ve done your research.

    • Balance: I think it doesn’t exist for many, to be truthful. Enjoy the work and know it does take sacrifice.

    • Debt: I worked a full-time job until I could leave. I had a shorter window of time to take that risk (due to a small fallback), but I tried to make the most out of it when I jumped in head first. If I failed, it was okay. My mom and grandmother knew what it was like to not be supported in taking risks, so they cheered me on. That meant everything.

    More importantly, what you do need is a cheerleader, grit, and hope. You have the ability to take risks.

    Dan Bova

    Source link

  • He Turned His Music Passion Into a Thriving Audio Tech Business

    He Turned His Music Passion Into a Thriving Audio Tech Business

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)


    Darren Nakonechny, CEO and founder of Flock Audio

    Who are you and what’s your business?

    I am Darren Nakonechny, CEO and founder of Flock Audio. We are a professional audio technology company that specializes in advanced analog routing technologies and hardware management solutions. Our patented analog routing technology is the first of its kind and we’re setting a new standard in our industry for using analog hardware in the professional audio field.

    What inspired you to create this business?

    After leaving a very stable career with many job promotions, I felt like I needed a change. Although I was making strides in my current career, I wasn’t happy or feeling fulfilled. So I changed my career path and ventured into uncharted waters, deepening my passion for audio production and recording studios — which I had been doing on the side for many years with local bands and artists. Once I left my career and began recording full-time, growing my studio and adding more recording hardware/tools along the way, I noticed there was a vital part of our industry that was missing and still stuck in the archaic past: the analog patchbay.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    Analog routing in recording studios was still being done by a 150+-year-old technology, originally developed for the telecommunications industry. We are all familiar with the classic black-and-white footage of lady operators on stools, routing phone calls on a giant patch panel as they plugged and unplugged cables to connect phone calls. It turns out that this very technology was being used a century and a half later in the audio industry, and remained the only lucrative option for thousands of audio professionals worldwide. Upon experiencing this limited and grossly outdated method of analog routing firsthand, I knew there had to be a better way. More importantly, I questioned why there wasn’t a better way. This is what led to my journey into creating our industry’s leading analog routing technology, the Flock Audio PATCH Series.

    Patch

    What has been your biggest challenge and how did you pivot to overcome it?

    As with any groundbreaking technology, it’s overcoming the naysayers. To my surprise, most of our industry accepted and adopted our new technology solution with open arms, but this didn’t change the fact that we had to win over a range of more skeptical audio professionals, who despite seeing the growing successes of the product, were still unconvinced that this was the future of analog routing. New technology and change can be scary among the masses until you see what it can offer, and this is exactly what transpired with the Flock Audio PATCH Series.

    Once those skeptical audio professionals started to see more of the Flock Audio brand and eventually test it for themselves, they all agreed: there was no going back, and nothing else like it. This truly was the future of our analog hardware industry. I generally dislike the term “game changer” but the PATCH Series has been one of, if not the biggest game-changing technology in our industry. Seeing, hearing and experiencing is indeed believing.

    What advice would you give entrepreneurs looking for funding?


    As with every business, product and company scenarios are always unique. There is no simple solution or method to obtain funding. You will be promised a lot of opportunities for funding, and disappointed by a lot of roadblocks and gatekeepers along the way, but keep going. If it was simple or easy, everyone would do it. You will have to experience many hardships, difficulties and dark days during the early times of starting your company, but don’t stop. Accessing capital can come in many different forms of VCs, angel investors, love money, self-funding, preorder funding and more. But don’t expect some golden-throated investor to come along and sign a check to get your business off the ground. It takes determination, stamina and decisiveness to figure out the routes that others haven’t taken, and what might work for your company — specifically in terms of funding options that haven’t been explored. Our company was promised a lot of money and investments along the way during the early years, but not a single penny came through, and we had to do it on our own using creative and decisive methods. Despite the pain and disappointment of not getting any funding from outside sources, we made Flock Audio a true success story.

    
Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur


    What does the word “entrepreneur” mean to you?

    For me, “entrepreneur” means a trailblazer: someone who can fit a square peg into a round hole. Perhaps someone who sees things differently? For the first 30 years of my life, I admittedly didn’t really know, care or had any reason to understand what ‘entrepreneur’ ever meant. It never made any sense to me until I lived it, and that included the heartbreaking times as well as other times of achievement that made you feel like a champion. I believe a true entrepreneur is not born. Instead, you are sculpted through early mornings and late nights of small successes and major defeats, until finally, you find the perfect balance towards achieving your dream. Never lose that focus, never forget why you started, and keep both of these things in your field of vision until you get there.

    What is something many aspiring business owners think they need that they really don’t?

    Partners, co-owners, etc. I hate to sound like a lone wolf but no two people, and no two business owners, are alike. If you have a vision for your life and how you want to live it, you don’t rely on other people to get you there. You need a great team, good individuals and positive reinforcement around you to help assist in fulfilling that dream but partnering with the wrong people can destroy in a matter of weeks what may have taken months or years to establish in your mind. Like many entrepreneurs, I made the typical mistake of thinking that I needed someone else to share this journey with and I was wrong. While that partnership didn’t work out, it ultimately taught me that even though you need a good team, you don’t necessarily need a partner to help you achieve your vision. No one will work harder for your dream than you. So I say go in it alone, be the lone wolf, be the odd one out. It’s not always fun, but it’s invigorating and can teach you so many things about yourself, including strength and perseverance you never knew you had in you.

    Related: This 18-Year-Old Student Wanted a Better Way to Keep Track of His School Work. So He Built an App — and a Business.

    Is there a particular quote or saying that you use as personal motivation?

    There are so many, but my favorite is one from Les Brown: “Some people get even, and some people get ahead, stay focused.” This quote has carried me through many difficult times, particularly in my own industry where there were some early naysayers who said my product would never be successful. Each and every time I heard this, I reminded myself of this quote above. The best approach was to keep my head down, stay focused and remember that the best revenge of all is proving people wrong with results; not by arguing online in an otherwise noisy world. I kept telling myself, “stay focused, stay focused, stay focused.”

    Entrepreneur Staff

    Source link

  • Stop Waiting for a Big Idea. Success Is All About This One Thing.

    Stop Waiting for a Big Idea. Success Is All About This One Thing.

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)


    Skin Laundry

    Who are you and what’s your business?

    My name is Gregg Throgmartin, and Skin Laundry is a pioneering medical aesthetics company that I first invested in in early 2017, then joined as CEO shortly thereafter in 2018. Skin Laundry was founded on the belief that the technology and science reshaping skincare today should be widely available and accessible to all. We focus on delivering customized energy-based facials and have performed more laser facials than anyone in the world. We have 23 clinics in the US, plus ten internationally, and are on track to own and operate 100 clinics by the end of 2024.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    Before joining Skin Laundry, I served as President of Fabletics, where I built their retail channel, expanding on their then-pure direct-to-consumer ecommerce model. I’ve been an active seed and growth investor and board member in consumer-centric startups since 2010.

    What inspired you to get on board?

    As I started my Skin Laundry journey as an investor and board member, I had a clear “aha moment” after visiting a handful of our clinics very early on. I talked to team members at each location and always asked, “What brought you to Skin Laundry?” Nearly every employee had the same story: they started as a client and the results were so life-changing they wanted to join the company to help others have a similar experience. They would all proudly pull out their iPhone to show me their before-and-after photos as proof. I knew there was something far more powerful going on than I could have ever imagined.

    Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What was your biggest business challenge and how did you pivot to overcome it?

    Being forced to shut down during Covid was clearly a momentous challenge. We had to address the fear and uncertainty, the loss of loved ones, and the loss of connection, while still pursuing steps to ensure the business could not just bounce back, but excel when we eventually emerged. The lingering effects in the workforce, particularly when gearing up for the high growth plans we had for 2022 through 2024, took longer to recover from. We continue to work to overcome this, and I can say the fastest-growing department in our company this past year is our People Team. We’ve poured more into building the finest team and resources for our Skin Laundry people than at any other time in my career. These efforts are paying off — employee reviews on Comparably are strong and our EMPS is up there with the best.

    What advice would you give entrepreneurs looking for funding?

    Make sure you have enough funding to have some initiatives fail. I’d like to be able to say the first initiative I implemented at Skin Laundry was a huge success. But it was not. You need enough cash to test, fail, iterate, test again, refine and continue. If you do happen to nail ‘it’ on the first try, congrats – your funding cushion along with your early win will allow you to add to the team and accelerate growth.

    Related: This Company Built a New Kind of Robot: ‘It Moves the Way People Move’

    What does the word “entrepreneur” mean to you?

    To me, an entrepreneur is someone who can paint a vision of something that has never before existed, then work tirelessly to make it happen. Someone who lives and breathes their business, not because they have to, but because they love to. An entrepreneur is curious, passionate and not afraid to dive headfirst into an area of opportunity where almost everyone else has failed before. They can either tune out the large chorus saying “this won’t work,” or get fired up by the challenge to uncover and prove out just how it can work. Lastly, the best entrepreneurs I know openly talk about their failures. They learn from them, use them to teach their team, and use the sting to work even harder.

    What is something many aspiring business owners think they need that they really don’t?

    An “Idea.” I say that partly jokingly, of course; but so many people I meet think the idea is 90% of the battle. Many aspiring business owners get hung up on perfecting their idea or finding “the big idea.” What one needs is to be able to execute that idea the best. Then, you have to be able to evolve and out-execute everyone else that copies your idea.

    Dan Bova

    Source link

  • This Incredible Robot ‘Moves the Way People Move’

    This Incredible Robot ‘Moves the Way People Move’

    In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)


    Piaggio Fast Forward

    Who are you and what’s your business?

    Hi, I am Greg Lynn, CEO of Piaggio Fast Forward, Inc. We’re a Boston-based robotics company with the mission to build technology products that move the way people move. We build robots for real-world pedestrian environments where our machines navigate with and around people safely and intelligently with what we call “pedestrian etiquette”. We developed two robots with different sizes and payloads, Gitamini and Gitaplus, for the consumer market.

    Our robots are designed to follow individuals and families in communities throughout the United States. Common to almost all our customers are neighborhoods where daily errands related to shopping, education, sports, entertainment, and leisure are all within walking distance on modern sidewalks, but instead of by foot, these trips are being taken by private car or ride-hailing. Our technology replaces the need for car and truck trips with robots that detect, predict and follow people outdoors and indoors for a more efficient and healthier lifestyle. Our robots even detect and navigate through doors that people open and hold for them and then automatically reconnect and continue to follow as you walk through the door after them.

    Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs

    Recently we have moved into business uses and sales with a focus on hospitality, retail, and building construction markets where goods are being moved frequently. Our technology augments workers, allowing them to be more efficient, safer and healthier by making fewer trips, carrying less, and staying focused on the work to be done rather than pushing and pulling materials around the job.

    What inspired you to create this business?

    Our “ah ha” moment came from decisions of what we would not do: we would not design a driverless scooter and we would not design an autonomous delivery robot. Understanding the attributes that we didn’t want in our design allowed us the freedom to create a product that aligned perfectly with our objective: human autonomy with the help of robots.

    We looked at navigation and self-driving and tried to identify the core knowledge we would need for robots that carry things where people work and live. We determined that people do not occupy places with the regulation and simplicity of roadways, warehouses or factories. Driving from point-to-point avoiding obstacles was not our first initiative. Instead, we started with building a library of algorithms of human movement and operating our robots by understanding how to detect and interact with people and also how to map and classify the built environment without the need for the creation and maintenance of detailed maps like those used in factories and roadways for self-driving cars.

    What has been your biggest challenge and how did you pivot to overcome it?

    Our biggest challenge is producing an intuitive easy-to-use device that doesn’t require any previous knowledge of robots or training. We build very sophisticated technology that operates behind the scenes but want its user interaction to be simple to operate and intuitive to understand both by users and by bystanders

    We ship our machines to consumers and businesses and our robots can operate out of the box within 20 minutes using a one-page quick start guide. We do not need expensive or complicated integration efforts and we do not have remote control operators in N.O.C. centers.

    Related: You Don’t Have to Be a Business Owner to Think Like an Entrepreneur

    What advice would you give entrepreneurs about pitching?

    Explain how your product and technology can bring value immediately and how it will impact the quality of work being done or of consumer lifestyle. We combine a strategy on ROI combined with a broad view of a qualitative improvement of work and lifestyle through technology. We do not focus on replacing workers 100% whether it is replacing delivery drivers from the store to a home or the housekeeping worker in a hotel. Instead, we augment people to make an enjoyable outdoor trip to the farmer’s market and we preposition carts for the hotel cleaning team and follow them when needed so they can focus on what they are good at without worrying about pushing goods around. Whenever we are talking to a customer we are listening to their needs and finding ways to improve efficiency and quality of work. We are very focused on the human experience and making sure technology is improving rather than diminishing or eliminating the value of humanity. We are looking at robots’ potential benefits rather than their potential for disruption.

    What does the word “entrepreneur” mean to you?

    We are an entrepreneurial company because we are inventing technology that we are applying in the real world today. Our innovation is focused on market readiness in a world that doesn’t have to change for us to deploy. An entrepreneur needs to identity opportunities, often created by technological innovation, and bring them to market in the real world as fast as possible. We are currently all alone without any competitors when it comes to creating technology that interacts with people on human terms and not inside a cage. There are other sidewalk and warehouse robots, but they treat people as obstacles, very special obstacles, but obstacles nonetheless. We have observed, analyzed and defined how people move, how two people go through a door together, how people cross paths, when a person indicates they will turn a corner, even how people form and lead a convoy of things single file through obstacle. We are developing algorithms for pedestrian etiquette, so machines are acceptable and performing successfully in dense pedestrian environments. Nobody else is learning and designing what we are doing. We have signs of some competition from companies that are trying to optimize productivity in warehouses and are beginning to understand how important it is to interact with people and the dynamism of human environments but nothing that can accompany a person for 20 miles in the real world right out of the box.

    Related: Top Books All Entrepreneurs Should Read

    Is there a particular quote or saying that you use as personal motivation?

    We founded the company with a market focus on sidewalk mobility at a time when scooter sharing and food delivery were growing. We operated for almost two years without a mission statement. We assembled the entire team including our Advisors and Directors and worked to define our core competency and our mission. With very little conflict or effort, there were more than 60 people all agreeing that we were together to invent a new kind of robot, one that moves the way people move. This clarified so much. We were not building a miniature self-driving truck for the sidewalks. We were not building electric vehicles for passengers to drive. We were building robots that moved the way people moved so we can augment their activities in real-world everyday environments. It is our mission statement that is my personal motivation and it inspires me every day.

    Entrepreneur Staff

    Source link