September 2024

The Green Bay Packers, valued at $6.3 billion, are the only publicly-owned NFL team and the sole team in all North American major sports leagues with this ownership structure, CNBC reports.

The tradition of fan ownership was initiated more than 100 years ago, with six stock offerings so far (1923, 1935, 1950, 1997, 2011, 2021), with an ownership cap of 200,000 shares per person. The first offering was $5 a share. The latest was around $300, and more than 538,000 individuals collectively hold over 5.2 million shares, according to the official team media guide.

However, the shares don’t provide dividends, can only be transferred to a family member, and have no market value. What shareholders do have is voting power at the annual meeting to elect a board of directors.

Related: Travis and Jason Kelce Score $100 Million for Their Podcast

Also, the only exit strategy is to sell shares back to the team at a portion of the initial cost, so this investment is more about fandom and community roots than financial gain. And because the team is publicly owned, they disclose revenues and expenses yearly, per ESPN.

In 2023, the Packers generated $638 million in revenue and charted $128 million in earnings, which goes into player salaries, the upkeep of the historic Lambeau Field, and other essential operations. Last year, the Packers also purchased Foamation Inc., the company that makes the famed Cheesehead hat.

Despite playing in the smallest TV market in the NFL (and Green Bay lacking the vacation allure of franchises in cities like Las Vegas or Miami), the Packers have become a storied franchise whose ownership structure has continued to shape the team as an outlier—in finances, fan engagement, and cheese-shaped headwear.

The Packers are ranked the 12th most valuable team (out of 32) in the NFL, per CNBC Team Valuations.

Competition for top talent is a priority for CEOs everywhere. The news is filled with various approaches companies take to attract and retain the best employees, but I believe it comes down to culture. Increasingly, the best people want to join organizations where they can bring their “whole selves” to work. But what does that really mean, and how can CEOs foster that kind of culture?

At Kampgrounds of America, Inc. (KOA), our organizational values align with the “whole person concept.” This recognizes that employees are multifaceted human beings with wholly unique experiences and potential.

It’s a concept that encourages leaders to appreciate each individual team member’s experiences, values, aspirations and professional roles. Parenting, caring for friends and family, navigating relationships, welcoming a new pet, showing up for your neighbors and so much more — we are all multifaceted.

Job descriptions do not encapsulate the whole person and we want our employees to bring everything that makes them distinct into our culture. Likewise, we recognize that employees have lives and interests outside of the office that deserve time and respect. It’s how we thoughtfully promote inclusive and empathetic leadership to build the vibrant culture that is at the heart of KOA.

So how can other business leaders embrace the whole person concept in their organizations? Here are five tips based on my experience:

1. Campfire chats build culture

Create opportunities for employees to interact informally and share what is on their minds. At KOA, I regularly host campfire chats with cross-functional groups of employees. This is an opportunity for us to get to know each other as human beings outside of the demands of projects and deadlines.

As CEO, I recognize the importance of sharing my whole self during each of these chats, but I’m also intentional about actively listening. I learn so much about our employees — and company — every time, and our collective knowledge strengthens human connections across the company. Think about what your organization’s version of the campfire chat could be. Keep it simple, and I promise you will be amazed by what you will learn and the culture-building benefits that will result.

Related: What Makes a Great Company Culture (and Why It Matters)

2. Candor is kindness

Over the course of my career, I have become a big believer in radical candor. Conflict is difficult, but as I’ve grown as a leader, I’ve learned it’s not the enemy. If you need convincing, I highly recommend the book “Radical Candor” by Kim Scott. In a nutshell, this book articulates “how to kick ass at work without losing your humanity.” It was a game-changer for me because it shifted my mindset about providing feedback in tough situations. It’s the key to unlocking growth in people.

When you approach candid feedback from a place of empathy, it’s really an act of kindness. When someone takes the time to invest in you and share insights to help you grow and improve, that’s a tremendous gift.

The more you foster a culture of candor at your organization, the more it will be received that way. Addressing issues head-on is vital to a healthy culture. When things don’t fester, people absorb the lessons and move on, and there isn’t an opportunity for toxicity to take root.

Related: The 3 Biggest Hiring Mistakes You Can Make

3. Health is wealth

Spending time outdoors is essential for human well-being. Spending time in nature equates to improved physical and mental health. You might think a company founded on these values wouldn’t need to spend much time nurturing employee wellness, but we don’t make that assumption. We always seek ways to support and encourage connection to the outdoors for our people, our most precious asset.

I haven’t always been the best at doing this for myself, and I’m honest with our employees. I have struggled with burnout and discuss that openly with others at KOA. I’m aware that people take their cues from what I say and do, so when I take a day off to go fishing or spend time with my family, I don’t hide that.

Early in my career, I sacrificed exercise and sleep for what I thought was the greater good at the time, but the physical repercussions were real. The truth is that I’m not at my best for my family or my employees when I’m exhausted.

Related: The Untold Truth About Mental Health In The Workplace

Mental health struggles are equally real, and I encourage my employees to talk about struggles in their personal lives if they are comfortable. I am working to prioritize exercise better and let my employees see me doing that to empower them to do the same thing. In terms of my own mental health, therapists and executive coaches have helped me at different stages of my career as I’ve balanced growing a company and raising four children.

4. Vulnerability is power

I have found this to be one of the most difficult lessons to learn as I’ve progressed on my leadership journey. Early in my career, I put pressure on myself to be perfect — or at least to project perfectionism to others because of the responsibilities I had or the promotion I was trying to attain. But what I have learned over time is that perfection doesn’t exist, and there is great power in vulnerability. No one was born knowing everything, and CEOs and other leaders can’t be expected to know everything. That’s why we hire smart, talented people and trust them to unleash their expertise.

As a leader, it’s powerful to say, “I don’t know the answer to that” or “I made a mistake.” It might seem small, but it creates a ripple effect and opens the door for others to be honest (remember that radical candor thing?) when there are opportunities to improve. A culture where it’s safe to make mistakes and share vulnerabilities is a healthy culture. And by unlocking that transparency and dialogue, you will create a multiplier effect for growth and learning opportunities. Every CEO is charged with growth and vulnerability is a way to spark growth through culture. There’s a reason Peter Drucker said, “culture eats strategy for breakfast.”

5. Be curious

Leaders should always be curious about their people in the spirit of welcoming the whole person to work every day. Think about the people on your team for a second. Do you know what motivates them? Do you know what inspires them? Do you know what their personal goals are outside of the office? Be a student of your employees and encourage them to learn about their colleagues in that same way.

Intellectual curiosity is one of the things that makes us human. There is always more to learn. Let your employees see you learning new skills, trying a new hobby, traveling somewhere you have never been, experimenting with a new recipe, etc. Being a student of the world and sharing those experiences permits them to do the same and bring their whole selves to work as they evolve.

Culture is always a work in progress, and this is a “peek under the tent” look at how we are thinking about culture at KOA. Keeping the whole person at the center has worked well for us and has applications for others in leadership.

Small businesses are often at a disadvantage when competing against larger enterprises. However, the rise of artificial intelligence can level the playing field and offer even the smallest players a powerful toolkit to change their company’s trajectory and create significant growth.

In this article, I’ll explore how small businesses can harness AI to thrive in a competitive market, using practical tips to illustrate this technology’s transformative potential.

Related: How Small and Mid-Sized Businesses Can Leverage AI to Compete With Large Companies

The potential AI affords small businesses

1. Streamlining operations

One of the most immediate and more noted benefits is the ability to automate repetitive yet necessary tasks. This frees up valuable time and resources, which is critical for businesses with small teams. Many small businesses need more workforce, making efficiency a top priority. AI-powered tools can take over routine tasks such as data entry, scheduling and inventory management, allowing business owners and employees to focus on more strategic initiatives.

For example, AI-driven accounting software can automate bookkeeping tasks, expense tracking and financial forecasting. These tools reduce the likelihood of error and save considerable time, which can be redirected towards growing the business. Similarly, AI can optimize supply chains by predicting demand, managing stock levels and automating order processing, allowing small businesses to operate smoothly and respond to market changes quickly.

Consider a small ecommerce business that relies on AI-powered inventory management software. This software can accurately predict product demand, preventing overstock and stockouts. By maintaining optimal inventory levels, the business reduces costs and improves customer satisfaction by consistently meeting demand.

2. Improving customer experiences

Customer experience is a critical differentiator for small businesses, and AI offers several tools to enhance how businesses interact with their customers. Chatbots and AI-powered virtual assistants are increasingly common, as they provide 24/7 customer support. These tools can handle common queries, process orders and troubleshoot fundamental issues, ensuring customers receive prompt and efficient service anytime.

In addition to improving response times, AI can personalize marketing efforts, which is critical to building strong customer relationships. AI analyzes customer data to create tailored marketing campaigns, delivering the right message to customers at the right time. This level of personalization was once only accessible to large companies with significant resources, but AI has made it achievable for small businesses as well.

A great example is a small online retailer using AI-driven personalization to send targeted product recommendations to specific customers based on previous purchases and browsing behavior. This increases the likelihood of a sale and enhances the customer’s experience by making them feel understood and valued.

AI also plays a role in gathering and analyzing customer feedback. Tools that perform sentiment analysis on customer reviews, social media mentions and direct feedback allow small businesses to quickly and accurately gauge satisfaction levels and identify areas for improvement. By acting on these insights, businesses can refine their offerings to better meet customer needs, further enhancing the overall customer experience.

3. Driving growth

AI is like having a super-charged assistant readily available. It can take vast amounts of data, analyze it and generate actionable insights, making it a powerful engine for business growth. Small businesses can leverage AI to enhance sales strategies, optimize pricing and identify high-potential leads. Part of the struggle with sales is focusing efforts on suitable leads. However, with AI tools, you can analyze sales data that will allow you to better predict which leads will most likely convert. The result is a well-oiled sales team that can prioritize their efforts and close deals more efficiently.

Moreover, AI can support product development by analyzing market trends and customer preferences. This data-driven approach can empower small businesses to focus on developing products their target audience truly wants and needs, increasing the chances of success in the marketplace.

A good example is a SaaS company that uses AI to predict customer churn. By pinpointing customers at risk of leaving, the company can deploy targeted retention strategies such as personalized offers or enhanced support. This proactive approach reduces churn and increases customer lifetime value, driving long-term growth.

AI also facilitates scalability, allowing small businesses to expand operations without a corresponding cost increase. Automated processes reduce the need for additional staff as the business grows, and AI-driven insights support informed decision-making, ensuring that expansion efforts are strategic and sustainable.

Related: Harnessing the Power of AI: 5 Game Changing Tactics for Small Businesses

Overcoming common challenges

While the benefits of AI are clear, small businesses may face challenges when adopting this technology. Concerns about cost, accessibility, data privacy and employee training are common but can be addressed correctly.

1. Cost and accessibility

Many small businesses worry that AI tools are too expensive or complex to implement. However, the AI landscape has evolved, and affordable, user-friendly solutions are now designed for small businesses. Cloud-based AI services, for example, offer scalable options so businesses can start small and expand over time as needed. Business owners must explore these options and choose tools aligned with their budgets and objectives.

2. Data privacy and security

Data privacy and security are big concerns for consumers, and they will only become more so as using AI becomes more commonplace. Every business, big or small, must comply with data protection regulations and use AI responsibly. This includes implementing robust data security measures and being transparent with customers about their data use. By prioritizing privacy, small businesses can build trust and protect their reputation.

3. Employee training

Integrating AI into business operations requires expertise, and small businesses may need to gain the in-house knowledge to do so effectively. You also need to take the time to train employees on how to use the AI tools you adopt, as that will allow your entire team to maximize the benefits. Fostering a continuous learning culture will also help businesses stay ahead as AI evolves.

Artificial intelligence offers small businesses a unique opportunity to compete with larger enterprises by streamlining operations, improving customer experiences and driving growth. With the right tools and strategies, even the smallest businesses can harness AI to achieve significant success. As AI technology advances, the possibilities for small businesses are only growing. Now is the time for small business owners to explore AI and unlock its potential, proving they can survive and thrive in today’s competitive market.

Related: Small Businesses Have Fewer Resources Than Big Companies. Here’s How AI Can Fill the Gaps.

What city is best for starting your business? While several factors should play into a decision, a new report from fintech company SumUp has identified the top 10 for entrepreneurship based on tax data, the number of millionaires in the city, and even Google searches.

New York topped the list because of the opportunities it offers across industries, from tech to fashion, and its 4% sales tax, which was the lowest of the group. New Yorkers also frequently Google “how to get rich” and “how to make it in business,” the study found. The city also offers access to over 30 WeWork coworking locations, the most of all the cities in the report, which theoretically could help startup employees collaborate.

Related: Worried About AI Stealing Your Job? A New Report Calls These 10 Careers ‘AI-Proof’

Chicago came in at No. 2, with SumUp researchers highlighting its 120,500 millionaires and high interest in entrepreneurship through tracked Google searches. They also found that Chicago stood out for finance startups.

Rounding out the top three was Miami, “where the weather is warm and taxes are low,” according to the study. Travel, tourism, and commerce startups thrive in this city, which has 0% personal income and capital gains tax.

Related: These Are the Top 15 Jobs With the Highest Entry-Level Pay

Here’s a complete list of the top ten cities for entrepreneurship, according to the report.

1. New York

Number of millionaires: 349,500

Personal income tax – highest income: 10.90%

Sales tax: 4.00%

2. Chicago

Number of millionaires: 120,500

Personal income tax – highest income: 4.95%

Sales tax: 6.25%

3. Miami

Number of millionaires: 35,300

Personal income tax – highest income: 0.00%

Sales tax: 6.00%

4. Los Angeles

Number of millionaires: 212,100

Personal income tax – highest income: 13.30%

Sales tax: 9.50%

5. Dallas

Number of millionaires: 68,600

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

6. Austin

Number of millionaires: 32,700

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

7. Houston

Number of millionaires: 90,900

Personal income tax – highest income: 0.00%

Sales tax: 6.25%

8. Seattle

Number of millionaires: 54,200

Personal income tax – highest income: 0.00%

Sales tax: 6.50%

9. Washington

Number of millionaires: 28,300

Personal income tax – highest income: 10.75%

Sales tax: 6.00%

10. Boston

Number of millionaires: 42,900

Personal income tax – highest income: 9.00%

Sales tax: 6.25%

In the fast-paced world of beauty, Glamnetic transformed a simple idea — better eyelash extensions — into a $50 million business in five years. Their success stemmed not only from an innovative product but also from their approach to customer engagement.

For 25 years, I’ve worked on and helped build some of the best-known B2C and B2B brands – from LinkedIn to Yahoo!, Coca-Cola brands, Home Depot and now BILL. I’ve seen a consistent trend that Glamnetic co-founders Ann McFerran and Kevin Gould understood instinctively: customers are changing.

A new generation of customers

Shifts in customer behavior have implications for businesses of all sizes. However, small and midsize businesses (SMBs) that are particularly time — and resource-constrained can face unique challenges in understanding and responding to changes in customer expectations.

For B2B and B2C brands, customers are no longer satisfied with being passive recipients of products and services. Increasingly, they seek active engagement with brands and a consistent experience along their journey with a brand. Advances in technology and AI are key drivers, heightening expectations for new innovations in e-commerce or self-service tools. Also, with more competition, switching costs are lower, making retention all the more important. And with a more agile, online and mobile business presence, customers expect to see their feedback quickly reflected.

Here are four simple and effective strategies I’ve seen SMBs use to respond to these shifts in customer behavior and leverage them for success.

1. Build a seamless customer journey

A customer’s journey begins before a sale. From the moment they signal intent, you want to deliver a coherent, holistic and seamless experience. Creating this experience can be tough because, typically, different teams look after different parts of that customer journey. This process can cause friction or missed opportunities as customers move through the customer funnel.

If you can align sales, marketing, customer support and product or engineering teams and point them towards the same north star of a ‘seamless customer journey,’ you can deliver a great experience at every touchpoint.

Some companies, like BILL, have brought together GTM teams (sales and marketing) to drive greater alignment and focus from the beginning of the customer journey. Creating circular feedback loops is very important to ensure customer insights gained at any point can inform business strategy, product and engineering, marketing or support.

Your leadership team plays a central role in facilitating this cross-functional collaboration, but establishing a culture of empowerment at every level is the key to ensuring all employees feel ownership of the customer journey.

Related: How to Nurture Your Leads and Create the Right Customer Journey

2. Communicate with customers

Great brands don’t just market to customers — they open a two-way dialogue with them that is targeted to their needs and interests and authentic to company values and voice. To do this, they start by listening to customers’ needs and then building a brand and marketing strategy around them.

An effective two-way communication approach meets customers where they are — and in the modality they choose. Focus on how your communications can add value to customers’ lives. For example, share educational content to help customers optimize your product or service. Building community between customers is a fantastic way to deepen emotional connections with your brand.

Glamnetic did this exceptionally well. They harnessed the power of Instagram, user-generated videos and genuine customer interaction to grow a devoted “Glam Fam” community. They capitalized on the trend of social media discovery.

Through this, they identified a growing demand for more natural-looking lashes and press-on nails and expanded their product line. Glamnetic curated a space for authentic customer interaction and harnessed this community to ensure every interaction was an opportunity to learn and strengthen customer relationships.

Related: 5 Ways to Communicate More Effectively With Your Customers

3. Make technology a competitive advantage

Technology is a game-changer for SMBs looking to understand better and serve their customers. As automation and AI become more powerful and ubiquitous, so too does the ability of SMBs to incorporate technology across every part of the customer journey.

For example, financial automation software can help you improve operational efficiency and productivity and ensure teams can spend more time with customers and less time in the back office. Customer relationship management (CRM) tools track interactions and gather customer insights to spot trends that can feed into every part of your business.

Analytics platforms help you understand customer behavior on your website or app so you can better target your communications with customers. And AI-powered chat can equip SMBs to provide 24/7 customer support.

Take Amy Liu, founder and CEO of Tower 28 Beauty. Amy started her business with a mission to sell clean beauty and skincare products. But she found herself spending time on manual back-office tasks. By upgrading their technology and investing in financial automation software, Amy used the time she saved to focus on expanding their retail footprint. Their products are now carried in Sephora stores across the U.S. and Canada. Automation also helped Amy stay focused on the one that mattered most: customers.

4. Live by your values to foster trust

In a competitive landscape, trust is the most valuable asset a SMB has. To build trust, you first need to deliver on your product or service promise to customers. You also need to establish emotional connections with customers to translate that trust into long-term loyalty. Do they believe in your mission? Do they understand your commitment to innovate for them? Can they feel the empathy you have for their needs?

Trust starts with a company’s values and culture. Values guide who you hire, the products you build, the service you provide and how you communicate. Values provide certainty, security and reassurance to customers. If something goes wrong, customers need to trust you’ll put their interests first and be accountable to them. It’s also not enough to write values on a wall or website – you must infuse them at every level of your organization.

Related: 4 Reasons Values Matter So Much in Business

At BILL, our five values (authentic, accountable, humble, passionate and fun) inform our business priorities and decisions and guide our engagement with customers. We measure and reward employee performance against our values. We reiterate them in every company meeting and discuss them with customers, investors and partners.

Concentrating on agile, empathetic and customer-centric approaches can help SMBs reap the benefits of an increasingly engaged, tech-savvy and community-oriented customer base. By instilling strong company values, leveraging technology, building a seamless customer journey and engaging in two-way communication, SMBs will not only earn the loyalty and trust of customers — they’ll also win.

Tim Rosa remembers the day he realized his true calling.

When he was the Chief Marketing Officer at Fitbit, the wearable fitness tracking device, he pored over emails, forum posts, and support logs. There, he discovered moving stories from customers—one said the product had helped him discover a heart issue, and another said it helped her reverse type two diabetes and finally get pregnant.

“I would literally be in tears reading these stories,” Rosa says. “From then on, I knew my purpose was to help people by doing good and creating beautiful products and services that improve lives.”

Today, Rosa is the CEO of Somnee, a pioneering neuroscience-based sleep company whose flagship product is a neurostimulation device that helps users fall asleep faster, stay asleep longer, and improve overall sleep quality. Rosa wants to improve lives by solving one of the most fundamental human needs: quality sleep.

Rosa is this week’s guest on the One Day with Jon Bier podcast. In the interview, he talks about his journey from a run-and-gun marketing executive at ESPN, 2K Sports (launching the NBA 2K series), and Fitbit, working so hard he often slept under his desk, to discovering the value of sleep later in life and channeling that passion into Somnee.

He also imparts some valuable wisdom he’s gained in business over the years.

Build brands that ‘win hearts and minds’

“The most important thing is to be absolutely obsessed with understanding your customer,” says Rosa.

At Somnee, that meant first digging deep into customer feedback, engagement metrics, support logs, qual/quant research, and getting to know his customers’ needs on a personal and emotional level.

“By putting the customer and brand at the center of building your company, he says, you can use that as a guide to help inform your decisions.”

That said, the customer only knows what they know. To be innovative as a leader and introduce pioneering new products, experiences, or features, you still need to take some calculated risks, especially as a challenger brand or category creator.

“The reality is, whether you’re in a consumer business, an enterprise business, or healthcare, at the end of the day, someone on the other side wants to use your product, buy your product, consume your product,” he says. “Your job is to win their heart and win their mind. Period.”

Related: 5 Proven Strategies for Retaining Your Best Customers

Recognize personal struggles as potential business opportunities

When venture capitalist Vinod Khosla and UC Berkeley’s sleep scientist and author of “Why We Sleep”, Dr. Matt Walker, first approached Rosa about Somnee, he was dealing with serious sleep issues.

He had experimented with magnesium, CBD, and THC edibles but found no relief. Rosa looked at Somnee’s website and found the company’s product confusing, which frankly left him skeptical, but he decided to try the product himself for 14 days before committing to the CEO position.

“They sent me a device, and I went through the journey. In my third session, I fell asleep with the device on and was blown away by the fact that it really worked. But I felt the brand, product, website, and service needed to be elevated to reflect the incredible innovation behind the science and technology.”

He realized they were onto something special. If Somnee could help someone with sleep issues like his, the rest would be history.

Related: This Entrepreneur Was So Broke He Hid His Car From Repo Men — Now His Sound Healing Pods Are Transforming Health and Design

Embrace the power of personalization

One of the key innovations behind Somnee’s technology is its focus on personalization. Rosa explains that their patented “closed loop” product uses a comfortable sleep headband with an electroencephalogram (EEG) that reads your brainwaves to understand individual patterns for optimal sleep. This is the same tech that is used in some of the world’s most advanced sleep labs.

“The language of the brain is essentially electrical frequency,” he explains. “We establish a baseline using the EEG sensor. Once we’ve done that, our AI models then apply gentle, personalized neurostimulation at the optimal frequency that’s specific to you. This helps calm and prepare your brain for sleep. We reduce the time to sleep by 50% and improve overall sleep quality.”

Rosa argues that this personalized closed-loop approach is the future of consumer health tech and wellness products—it’s no longer just about tracking your sleep but actually fixing it.

Apply the ‘Rule of 3’ to simplify complex business challenges

Throughout his career, Rosa has relied on the power of thinking in threes to tackle complex problems and communicate effectively.

“I think in threes. What are the three things you will do to win?” Rosa explains.

This “Rule of 3” applies to everything from product development to customer communication. He says this helps him simplify strategies and prioritize actions.

Rosa uses this principle to stack-rank priorities and build his MVP (Minimum Viable Product). By focusing on the three most critical aspects, Rosa ensures that his team stays focused and avoids getting lost in unnecessary details.

Related: This Fitness CEO Ignored Advice to Alter His Brand. What Happened Next Is a Crash Course in Business Focus.

Leverage partnerships and data to create powerful ecosystems

Drawing from his experience at Fitbit, Rosa emphasizes the importance of creating customer personas and cultivating ecosystems around your product and customer needs. He envisions Somnee eventually rolling out an API and working with other wearables and service companies to create a more comprehensive health-tracking ecosystem.

“I view wearables, human performance services, and healthcare as strategic partners,” Rosa explains. “I want to help facilitate an ecosystem of partner products and services that utilize our clinical-grade data sets to help others. Good data in is good data out.”

Rosa’s journey from sleepless marketing executive to sleep tech innovator has been rewarding in many ways, but he says the most impactful moments have been hearing from his customers. Like Fitbit, Somnee is helping people and changing lives.

He tells the story of a Vietnam veteran suffering from Insomnia and PTSD who was addicted to sleeping pills and was only getting 3.5 hours of sleep a night. After using Somnee for 30 days, he’s now up to 7 hours and has made the 15-minute Somnee session a part of his nightly bedtime routine.

Or when Salesforce CEO Marc Benioff sent Tim an email saying how much he loves Somnee because it has dramatically improved his sleep and well-being, so much so that his wife is now using Somnee as well.

“It reinforces my own purpose, which is to help people, to help them perform and to help them live a better life by putting really good products in the world that actually have an impact,” Rosa says.

Paul Graham, the founder of famed startup accelerator Y Combinator, coined a new term this week that has taken over social media: founder mode.

In an article released on September 1 and publicized on X over Labor Day weekend, Graham separates “founder mode” from the traditional “manager mode” route by noting key differences in management styles and organizational structure. Graham’s X post has over 21 million views at press time.

Related: How to Start a Multi-Million Dollar Company, According to an IBM Engineer Turned Founder

Founder mode means that the CEO interacts with employees across the organization, not just their direct reports. The startup, even as it grows into a large company, is less hierarchical; the CEO could do “skip-level” meetings with employees, for example. Graham gave the real-world example of Steve Jobs running an annual retreat for who he thought were the 100 most important people at Apple — regardless of where they were on the corporate ladder.

Manager mode, meanwhile, is less hands-on and involves more delegation to other people. Founders can grow companies and run them effectively without switching to manager mode, Graham stated.

“Hire good people and give them room to do their jobs,” Graham wrote. “Sounds great when it’s described that way, doesn’t it? Except in practice, judging from the report of founder after founder, what this often turns out to mean is: hire professional fakers and let them drive the company into the ground.”

Related: How to Start Your Dream Business This Weekend, According to a Tech CEO Worth $36 Million

Graham gave the example of Airbnb CEO Brian Chesky, who tried to follow conventional “manager mode” wisdom to hire good people and let them do their jobs.

“The results were disastrous,” Graham wrote.

Chesky had to pivot to a different “founder mode” style of management and explained in an interview last year that founders have multiple advantages over managers: They have owned every part of the process of building a company, from start to finish; They have built the company up, so they can rebuild it; and they have permission to rebrand the company or make major changes.

This is it: @bchesky on founder mode.

Three reasons why founders differ from managers:
1. Being the biological parent
2. Full permission to make change
3. Knowing how to rebuild the company pic.twitter.com/VhuQ70B8FK

— Yana Welinder (@yanatweets) September 2, 2024

In the past few days since Graham released his essay, the social media world has begun exploring what it means in humorous and insightful ways. One post drew a comparison between micromanaging and founder mode.

founder mode pic.twitter.com/LWOlaFq4UJ

— ST (@seyitaylor) September 2, 2024

Other posts from women founders addressed the question: Can women be in founder mode too?

Chesky wrote on X earlier this week that women founders had been reaching out to him since Graham released the essay about how they can’t run their companies in founder mode the same way men can.

“This needs to change,” he wrote.

Remember when the female founders did founder mode and all got cancelled for it?

— Sara Mauskopf (@sm) September 3, 2024

It happened to me first — headlines portraying me as a “toxic leader” when I had to make the same, often unpopular, decisions that my male peers did without critique.

For them, it’s called Founder Mode, and it’s celebrated (a proper noun! With its own merch! And trademarks… https://t.co/rF0IM1huy3

— Sophia Amoruso 3.0 (@sophiaamoruso) September 5, 2024

I want to talk to you about something important: the price of pho. A few years ago at the Vietnamese noodle joint around the corner from my office, a large bowl cost $12. Now it’s $17.

How did my bill for the exact same meal jump almost 50%? It’s no mystery. Businesses of all kinds are wrestling with unprecedented inflation. But that’s not their only challenge.

Even as the cost of doing business keeps climbing, geopolitical tensions are hampering trade and rattling stock markets. Meanwhile, employee engagement is in the dumps, and finding the right talent remains elusive. Then there’s AI, which is disrupting work in ways we’re just starting to grasp.

The result is a business survivability emergency. It’s no exaggeration to say that companies today are facing an existential threat on multiple fronts. No wonder almost half of CEOs believe that if their business stays on its current path, it won’t be viable in 10 years.

Here’s why companies find themselves in such a tough spot and how they can turn things around by better understanding the one resource that’s right in front of them — their people.

Related: AI Will Radically Transform the Workplace — Here’s How HR Teams Can Prepare for It

Unpacking the “performance erosion crisis”

Despite all of our technology, people — the basic driver of any business’s success — remain a black box at most companies. Today, we can get real-time insights on customers and prospects through modern sales and CRM tools. But when it comes to the people working alongside us, we’re often flying blind.

We’ve had people analytics for generations, of course, but they’ve been confined to spreadsheets and limited to HR wonks. And even when information about people is available, it’s typically siloed and inaccessible to the managers who need it most. At the same time, performance isn’t systematically tracked.

The result is a performance erosion crisis. Productivity, in no uncertain terms, has flatlined. In fact, it’s now at a 75-year low and is the number one challenge, according to executives.

Meanwhile, half of employees are disengaged, making them more likely to be unproductive or simply walk out the door, and three out of four businesses are having trouble hiring skilled talent. As a result, 1.9 million manufacturing jobs could remain unfilled in the U.S. by 2033.

And don’t forget the elephant in the room: AI. Employers reckon that almost half of workers’ skills will be disrupted in the next five years. For companies, uncertainty about who to hire leads to inefficiency and churn. If people are expensive, that makes things even worse.

Just ask blue-chip stalwart Intel, which is laying off 15,000 people — 15% of its workforce. With revenue declining, the tech giant admits that it’s failed to benefit from AI.

In short, growth expectations are as ambitious as ever. But as productivity has stalled relative to operating costs, businesses everywhere are headed in exactly the opposite direction.

How companies can come out on top

To pull through in these uncertain times, businesses must capitalize on their most valuable resource: now, more than ever, they need real-time insights that connect the dots between their people and business results.

What I’m talking about is categorically different from the people analytics of yesteryear — dense tables reserved for HR analysts. What’s needed are on-demand insights accessible across the company, in real-time. For people data to be useful, it must be intuitive enough for managers to use to drive daily decisions, big and small.

The good news is that while AI is a catalyst for disruption, it’s also giving businesses a workforce edge when it comes to tackling the performance erosion crisis.

Think of the questions that every company has about how people impact business outcomes. Who are our top performers? Who’s most at risk of quitting? Where is productivity dipping?

Related: AI Is Changing the Way We Look at Job Skills — Here’s What You Need to Do to Prepare.

New platforms let managers ask those questions in plain language — and instantly deliver a clear, actionable response. The best of these draw on a vast database of millions of anonymized employee records across industries to deliver tailored results and accurate benchmarks.

Pay is yet another area where real-time people data can be a game changer. Even though most companies have a detailed compensation policy, the managers who make pay decisions often shoot from the hip, letting bias cloud their judgment. AI-powered smart compensation tools help managers make more informed choices, factoring in not only industry standards but individual employee performance while flagging pay gaps linked to racial, gender and other biases.

Indeed, new platforms can serve as a one-stop shop for many of the repetitive questions that employees typically lob at HR, whether it’s about salaries, vacation days or benefits. Turning all of that information into a self-serve function liberates HR teams from manual toil, freeing them up to focus on what really matters: ensuring the business has the right people to propel it forward.

Of course, technology alone is not a panacea. Companies that want to capitalize on real-time people data must also be willing to make a culture shift. This starts with a willingness to share insights on people and performance once hoarded by HR. People represent most companies’ biggest budget line-item and single most important driver of business success. A commitment to understanding how they work best and to sharing that information in ways that are consistent, understandable and safe is a prerequisite to getting the most out of AI-powered tools.

Confronting the workforce challenge at the root of the performance erosion crisis isn’t rocket science. To get the most out of people in an unpredictable world, you need to understand them and how they impact business outcomes. In my experience, the best way to do that is by tapping the real-time insights that AI can deliver. Like my bowl of pho, running a business won’t get any cheaper, so it’s time to gain an edge by working smarter.

I recall interviewing someone for a position at Square years ago when I was an engineering manager there. This candidate had every soft skill needed to excel in the role, but they weren’t familiar with our tech stack.

Not knowing the technology used at a major tech company seems like a pretty good reason not to hire someone — but 80% of the technology we use now wasn’t even around then. In hindsight, the biggest mistake I could have made would have been not to hire them, and it was sheer luck that made me realize it at the time.

Below, I’ll explain a few other major hiring mistakes — including some I’ve narrowly avoided and others I’ve made personally. Use this information to guide your own hiring decisions so you can be confident in the people you choose for your team.

Related: Why You Have to Let People Fail Now So They Can Succeed Later

1. Don’t hire talent over character

“How familiar are you with javascript?” is one of the least valuable questions you can ask in an interview. Don’t get me wrong; there’s a place for technical screening during the hiring process. But as a lead, there are better uses of your time.

At the end of the day, I can teach Javascript to almost anyone — or at least anyone likely to make it far enough in the hiring process that I’m having a face-to-face conversation with them.

I can’t necessarily teach a candidate how to get along with me. Compatibility can be nurtured to a certain extent, but much of it is innate. It’s either there or it’s not.

Your time in an interview is far better spent asking questions that speak to the character of your candidate. I’ve written an entirely separate article about that, which you can read below.

Related: I’ve Interviewed Thousands of Candidates — Here Are the 2 Questions I’ve Asked All of Them

2. Don’t assume pedigree is the same as value

The fact that a candidate went to a prestigious school or worked at a major company might get them in the door. But it should never be enough to land them the job outright.

Not everyone who went to Harvard or Yale is a genius, and not everyone who worked at Microsoft is a visionary. An institution’s reputation might suggest something notable about the people associated with it, but it guarantees nothing.

In fact, many students who attend Ivy League schools are strangely shy about it — because they want their work and character to speak for themselves. Having big names on a resume could mean that someone is exceptional, but it might also mean that they’re counting on those names to do the heavy lifting for them.

You can (and should) apply the same thinking to a candidate’s specific experience. They may have managed a big team at their last job, but that doesn’t necessarily mean they could do it at your company.

What’s on their resume lands them the interview. It’s what they say during the interview that lands them the job.

3. Don’t hire someone to grow into the role

This one’s probably a little confusing because it seems to fly in the face of conventional wisdom. Aren’t you supposed to put people in positions where they’ll develop better skills over time?

Of course, you are. However, your company culture and leadership style will help the right candidate grow, even if they’re overqualified when they start. And it’s much better to hire someone who can slam-dunk their position from day one than someone who will need their handheld.

Don’t hire someone who needs to grow into the role; hire someone where the role can grow into them. If you believe that your company will grow (and hopefully you do), then the role should be able to grow into their skillset.

Let’s go back to the example I presented at the start of this article — the candidate who wasn’t comfortable with our tech stack at Square. That candidate ended up thriving in their role, even though the technology it required is now completely different. In other words, the role eventually adapted to their soft skills and character.

Related: Avoid Costly Hiring Mistakes With These Five Essential Tips

The way you hire a candidate sets the tone for your professional relationship

Too many people look at whether to hire someone as a simple yes or no question, but it’s much more than that. Hiring a candidate becomes the first interaction you have with a new employee, so the way you do it colors the rest of your professional relationship with them.

Technical skills, strong references, and growth potential are all valuable qualities in a candidate. But a person’s character, accomplishments, and ability to excel are all much clearer indicators of how successful they can be.

And remember: hiring someone isn’t when you stop learning about someone — it’s when you start. You can pick up some more tips on how to build strong relationships with your team below.

Related: Be a Coach, Not a Referee — How to be a Good Mentor and Manager from a Coaching Perspective

The NOAA (National Oceanic and Atmospheric Association) reports that in 2024, there have been 19 billion-dollar weather and climate disaster events that have brought death and destruction in the United States. Storms, wildfires, and severe heat and cold waves have resulted in nearly $50 billion in damages.

While many of us do our best to get out of harm’s way, Brian Evans runs toward them. Evans restores the phone network during natural disasters for AT&T, and he also is the lead chef for the company’s mobile disaster basecamp. Evans says that both of his jobs require quick thinking and decisive action, and recently shared his tips for managing crises big and small.

Please explain your role as a chef and tech recovery expert. How do those skill sets overlap? 
I restore the network during natural disasters as an AT&T tech recovery expert, and I have become the lead chef for the natural disaster recovery team, where I bring in a mobile kitchen to support our folks at our basecamp. Last year I was on the ground in 42 states.

Related: 10 Strategies to Help Businesses Thrive in Times of Crisis

To lead a large-scale cooking or natural disaster recovery effort, you need to be able to plan for many phases at once. When we come into a disaster area, the basic infrastructure for the city is often out, and so the job can last anywhere from a week to a month. You quickly need to get ahead, so it’s about balancing preparing the first meals along with coordinating with external vendors for resupply, which can be very challenging after a storm.

Photo credit: AT&T

What advice can you give to entrepreneurs about wearing multiple hats?
Make sure you have alternates who can manage things if your day-to-day lieutenants aren’t available because you need to stay on track in both of your worlds. I have a network of volunteer responders from 46 departments at AT&T who have been trained to support our natural disaster recovery efforts, and I maintain a corps of kitchen trailer volunteers with different skill sets in different regions. Make sure your bench is spread out — we’ve set up 12 different stops across the US for training so that wherever we are, there’s a backup nearby.

Related: Taylor Swift Gives Masterclass in Crisis Management

And while you’re ensuring execution is tight, also know how to communicate the value of both programs to your superiors at any time. This high-level vantage point can easily be forgotten when you’re in the thick of things, but it is important. When I really needed a bigger mobile operation to handle scale, I was able to clearly show my superiors why it was so important to our first responders and how it was cost-effective, so they increased our resources to make the program truly national.

What’s your advice for entrepreneurs about moving fast and staying smart?
Protect your set-up phase and then you move quicker with everything else. You don’t want to “cook up a storm in a storm.” During stressful situations, it’s easy to want to rush to meet your team’s needs, but creating a plan makes a world of difference. We were on the ground during Hurricane Ian, for example, and it would’ve been easy to go into panic mode with 150-mph winds. Instead, my team got a headcount in advance, assessed the severity of the situation and then got to work on meal planning, ordering supplies and cooking so that our employees would have a hot meal at the end of a long day. As an entrepreneur, you’ll be in stressful situations that you need your team to push forward through, and a key part of that is maintaining morale, finding creature comforts, and breaking bread together. That was a key part of my upbringing in rural Louisiana.

Related: 4 Steps You Need to Follow to Make It Through Any Crisis

From what you’ve seen in natural disasters, what do you wish all people kept on hand in their homes and cars?
Everyone on my team carries a “bug out bag” aka a survival or emergency kit at all times. They contain everyday necessities that aren’t usually available during a disaster like extra clothes, water, blankets, snacks, etc. I always recommend that others have these items available all in one place so you can easily grab them at a moment’s notice. Of course, the hope is you won’t ever need it, but at the very least, you’ll have a little peace of mind knowing you’re prepared.

What does every entrepreneur need to know about leading a team during a crisis?
When I first started working in disaster preparedness, I was still a bit unsure of myself, but teams need a leader who is confident. So as I was figuring things out, I would picture the most confident person I could think of and try to embody them. The team looks to me during challenging missions and if I fall apart, they’re sure to follow suit. Whenever possible, I try to remember to take a few minutes to decompress if I start to feel myself getting overwhelmed. An emergency is already a high-stress situation and as a leader, how you react affects the success of the team for better or for worse.