December 2024

The holidays can be hectic, but one thing that always helps is a list. Even Santa Claus needs one — and I’ve heard he checks his twice!

I have a holiday routine I follow every year to help me reflect on how my business performed over the past year and how it can improve in the next. These crucial tasks have helped me grow my business, PostcardMania, from nothing to over $100 million in annual revenue. The best part is that our revenue growth is accelerating, which is a big accomplishment for a 26-year-old business. Since 2020, our annual revenue averages 15% growth — three times better than the previous decade’s average of 5% growth.

This checklist will help guide you in the process of analyzing your results and preparing for the year ahead.

Related: 4 Marketing Triggers You Need to Set Up Now to Supercharge Your New Year

Review marketing metrics and focus on top-line (aka new sales) growth

At the end of the year, take time to compile all of your results data — leads, sales, and where both are coming from.

For me, I look at what’s driving top-line growth (i.e., orders from new customers). A lot of coaches and consultants focus on bottom-line growth, but top-line is where I find the most useful information when it comes to marketing.

What’s driving sales? What brings in the best ROI? Once you know that, you can build in efficiencies down the line to improve profitability/bottom line, but getting that top line to grow is always my number one priority.

For example, last year, we noticed that new orders were down. My beautiful VP of Sales, Ashlie, who has been with me for over 20 years, made an excellent observation and suggestion. She asked, “How about we increase the postcards?”

Um, HELLO — I needed to practice what I preach!! We looked into it, and somehow, our outgoing postcard promotion had been cut from 205,000 weekly to 195,000. So, we increased our postcard outflow again (it’s now at over 260,000), and new orders and revenue from first-time buyers is finally up. That increase is over $1 million in top-line growth year to date. As I write this, we still have four weeks left in the year.

On top of that: We already know that half of those new clients will order more than once — and many will order for years and years to come.

To me, this was huge! A “come to Jesus” moment — if we increase our postcard mailings, we increase our top line without fail. It’s a little bit embarrassing because this is my mantra, and I missed it.

What works for my business may not be what works for yours, but you have to put the work in to find that top-line growth driver. Once you know it, grow it like no one’s business and build in efficiencies as you go. That has been the key to growing MY business.

Look for year-over-year trends to make adjustments

It’s not just the current year’s results you want to scrutinize. Compare the last five years to identify trends. If you don’t have data that goes that far back, try to gather any information possible to obtain a bigger picture of what may have changed or stayed the same over a span of time.

How have your marketing strategies evolved? I can tell you that at my business, PostcardMania, direct mail marketing continues to deliver massive results. We mail hundreds of thousands of postcards every week advertising our services like clockwork.

But we’ve also tested other marketing strategies over time. For example, the majority of our social media ads were static images. Then, last year, we decided to launch a series of short video ads about our clients’ successful marketing campaigns, and we witnessed a huge difference. As a result, our social media leads doubled, increasing by 105%! Since then, we’ve transitioned most of our ads on Facebook and Instagram to video instead of photos.

What is your most significant marketing trend? It will be different for every business, but the crucial takeaway is that the more you market, the more your business will grow. That’s a tried-and-true trend that will always stay the same.

Related: What I Learned From Spending $5.9 Million on Marketing Last Year

Analyze your sales funnel to discover opportunities for improvement

Even if you have been relying on the same sales funnel for years to deliver customers, it’s still beneficial to analyze its performance to see if there’s room for improvement.

Where do you normally witness prospects losing interest? Find the weaker spots in the communication channels and brainstorm strategies to draw them back in.

Typically, an interested buyer will visit your website before making any final decisions. This is a key point where prospects will often fall out of your funnel — but you can do something about it. At PostcardMania, we use technology to match a website visitor’s IP address with their physical address, then mail them a retargeted postcard within 24-48 hours following their website visit. The mailer sitting inside their house helps bring them back for a purchase.

I also recommend creating a solid schedule of reminder ads, emails and phone calls to re-engage prospects who haven’t converted yet. If you can automate these tactics to be responsive using your CRM, that’s even more ideal. This will cut down on the workload on your end and create a more personalized experience for prospects. Win-win!

Remember to work smarter, not necessarily harder.

Track your competitors and compare for additional insights

By now, you should have an idea of who your main competitors are. A well-thought-out marketing strategy includes an analysis of the competition and their marketing as well.

What did your competitor offer this year? Was it better than the discounts or free items you advertised? Who did their ads appeal to in regards to audience? If you aren’t sure, make sure to visit their websites and sign up for their newsletters or marketing promotions. I also suggest creating a Google alert for each competitor that will send any new mentions across the web right to your inbox. Take all of this information into account and detail any offers or messages that may have performed better than yours. Then, rally with your team to come up with even better strategies next year to get ahead of the competition.

Just keep in mind that your business should maintain its unique mission and identity despite any changes in advertising and promotions.

Ask your customers for feedback through surveys and reviews

I can’t preach this enough, but the only way you are going to get more positive reviews is by asking! The end of the year is the perfect time to send out an email or text message to customers and ask them to rate your products, services and customer service.

By giving customers an opportunity to provide feedback, you not only increase your credibility online, but you also gain more information about what your customers love and don’t like as much.

My staff regularly takes time to ask happy clients for reviews. If someone’s had a good experience, they’re very likely to leave a review when asked!

Once we put a process in place to do this, our five-star reviews skyrocketed. I’m B2B, and I noticed my competitors — even publicly traded competitors that are 10x our size — have far, far fewer good reviews than we do.

Create a comprehensive plan for the new year

You don’t have to wait until the new year to make changes. As soon as you digest your business’s results data, you can begin a new marketing strategy. The best time to make purchases is before the end of the year so that you can reinvest otherwise taxable profits back into your business and reduce your tax burden. Some purchases might even be eligible for tax credits!

If you are a B2B business like we are, go ahead and mail a letter to your prospects and customers and give them the great idea to pre-buy your product or service before the end of the year. Some of them inevitably will, and you’ll see a boost in December when people are usually too preoccupied with the holidays to spend that taxable income. We do this every year, and December is often our biggest month of the year!

Related: 3 Secrets to Finishing the Year Strong — Make These Smart Moves to Boost Your Revenue in the Final Quarter

Celebrate your successes and acknowledge those who contributed

The year shouldn’t end before you acknowledge all of your wins! Even if this year wasn’t your best, you can still celebrate any accomplishment. Include these victories in end-of-year events, or create a company email newsletter full of positive highlights. Make sure to give credit to anyone who contributed to the growth of your business. It will boost company morale and encourage the whole team to do even better in the coming year.

Modern buyers, both retail consumers and businesses, are demanding more from the companies they’re purchasing from. They want products built specifically for them from experts who understand their needs. On the business-to-business side, we call this verticalization. This is a trend that is exceptionally prevalent in software.

Research by the Boston Consulting Group reveals that 76% of software buyers find it important to work with sales teams and management who truly understand their industry, while more than two-thirds value “industry-specific solutions.”

Investors like Bain Capital Ventures (BCV) admit that the concept of verticalized software as a service (Vertical SaaS) is fairly new, and for good reason. The question of depth vs. breadth, according to BCV’s reporting, can divide investors. Why would a software company willingly choose to limit its total addressable market (TAM) in favor of a specific vertical, after all?

When my co-founder, Amir, and I started Duda over a decade ago, verticalization wasn’t even remotely as hot of a topic, and investors were far more skeptical than they are today. Focusing on depth is controversial now, but it was unbelievable then. Yet, as our product evolved and our company began to grow, it eventually became clear it’s what we had to do.

Related: 10 Growth Strategies Every Business Owner Should Know

Serving everybody served no one

Our initial TAM was essentially anybody who wanted to use our product. As a website builder, that meant we were attracting a fairly wide range of skill levels to our platform — from small business owners to full-blown professional website designers.

Developing a platform that appealed to both of these audiences quickly became a real challenge. Someone wanting to build a simple menu website for their coffee cart, for example, would expect a simple, easy-to-use experience. A digital marketing agency, on the other hand, would demand more robust and sophisticated tools with a high degree of customization. These two personas are completely at odds.

Trying to balance and build a tool that is simple enough for a small business owner, yet sophisticated enough for a pro, proved to be extremely challenging — maybe not even doable at all, especially for a small team of engineers.

This wasn’t a very big deal in the beginning. Growing fast made a lot of sense, and our initial product, a website builder specifically for mobile websites, had broad appeal. However, as the web evolved, so did our company — and we had to adapt.

Businesses went from having a desktop website and a mobile website to having responsive websites that adapted to both platforms. Websites became more complex and their designs became more intricate. While our platform became more powerful, our focus became less clear and our competition became more fierce.

Not only did this combination pull our product in too many directions, it also put us into competition with much bigger players in the website-building space. We needed to focus and differentiate.

Related: He’s Hosted ‘This Old House’ for 20 Years — These Are His Best Tips for Growing a Home Services Business

Verticalization brought us clarity

Deciding to verticalize our platform was not an easy choice by any means. At the time, roughly half of our customers were small business owners. How could we justify walking away from half of our customers?

For us, the decision was based both on the customer data we had as well as the sentiment of our team.

We saw, from our own numbers, that professionals and agencies were growing at a much faster rate compared to small businesses. Additionally, when we looked outward, we saw that this segment was painfully underserved by the market. Our engineering team preferred building more sophisticated tools, too, for more sophisticated users.

With the data on our side, and the team behind the decision, we chose to narrow our focus. Doing so brought extreme clarity to every aspect of the company. Suddenly, the sales team knew exactly who their customers were. Marketing knew who to talk to, which publications to work with and what influencers to coordinate with. Engineering knew who to develop for and which features to prioritize. The list goes on.

Here’s a good example. We couldn’t say the phrase “responsive design” in our marketing before we narrowed our market; instead, we had to say it “works on desktop, tablet and mobile.” This was clunky phrasing, but after verticalizing we were able to start using specific, technical terms in our marketing like “responsive.”

Related: Not All Clients Are Good for Business. Here’s How to Find the Ones Who Are.

Your platform can verticalize, too

The story we tell is one that a lot of businesses can relate to. Once we decided to focus on professionals, we never spent another dollar on acquiring a small business. To this day, our copy specifically speaks to website professionals and SaaS companies — the people building or offering websites to others.

This clarity inspired every feature that came after and helped propel the company to where we are today, with over 23,000 customers and a million published sites on the platform.

To make the same change, you need to ask the same question we did: Who are your best customers? This is a never-ending question, and one we continue to ask ourselves, too. When we decided that web professionals were our customers, the obvious follow-up question was: What kind? Freelancers? Marketing agencies?

Once you’ve found your customer, you need to dig deeper. What are their characteristics? What do they like about your product and what’s holding them back? How do you get more of those customers?

Verticalization is about continuously double-clicking into your customers, diving deeper and deeper into their world until your product fully aligns with their needs. It’s also about ensuring that those needs align with the DNA of your business. When the pieces align, the effort is well worth it.

In 2021, Joanna Smith-Griffin, the founder of an education-technology startup, was featured on the Forbes “30 Under 30” list.

Last month, she was charged with fraud. Prosecutors allege that she lied to investors for years about her startup, AllHere Education, and the company received $10 million under false pretenses, according to the indictment.

Related: An AI Startup CEO on a Forbes ’30 Under 30′ List Has Been Charged With Defrauding Investors Out of $10 Million

Smith-Griffin has joined the infamous group of “30 Under 30” honorees praised by the public and media for their early success — before authorities discovered the illicit shortcuts that got them there.

Since 2011, Forbes has used the annual list to celebrate and honor entrepreneurs who have excelled in their fields early in their careers. The company says it thoroughly vets each of the nearly 100,000 nominees annually. As the Guardian’s Betsy Reed notes, “The problem here isn’t Forbes, the problem is the vision of success that we’ve been sold and the fetishizing of youth. 30 Under 30 isn’t just a list, it’s a mentality: a pressure to achieve great things before youth slips away from you.”

So, next time you feel discouraged about not reaching goals by a certain age, remember these “30 Under 30” recipients who were honored for their accomplishments in their youth—but had to cut corners and cross legal lines to get there.

Sam Bankman-Fried

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, was named to the list in 2021 for Finance.

Bankman-Fried started Alameda Research in 2017, and later founded FTX in 2019, which was valued at $32 billion in 2022. But in November of that year, FTX filed for bankruptcy after struggling to raise funds and facing a liquidity crisis, and U.S. prosecutors accused him of fraud. He was arrested in the Bahamas in December 2022 and charged with defrauding investors in a scheme that led to the bankruptcy of his company.

In February, four additional charges were added to his docket for conspiring to make over 300 illegal political donations. Currently, Bankman-Fried is out on bail, living at his parents’ house, and awaiting trial (which is scheduled for October).

Related: Who Is FTX Founder Sam Bankman-Fried? Everything to Know About the Disgraced Crypto King

Elizabeth Holmes

Elizabeth Holmes founded Theranos in 2003, a company that promised a revolutionary blood testing technology, and was once hailed as the world’s “youngest self-made female billionaire.” The company caught the attention of high-profile investors and companies (many of which never even saw the technology before investing) and raked up partnerships with big-name brands like Safeway and Walgreens.

Holmes was never officially on the “30 Under 30” list, however, she did headline the “Under 30 Summit” in 2015, where she also accepted the “Under 30 Doers Award” for her work in the healthcare industry and the potential impact of her company’s technology.

However, just weeks after accepting her Doers Award, Holmes became the subject of an investigation by The Wall Street Journal, raising questions about the legitimacy of her technology. What ensued was nothing short of one mishap after another: failed lab inspections, a slew of lawsuits, and the not-to-be-forgotten net worth dip of $4.5 billion to $0 in 2016.

Finally, in 2018, it was revealed that the technology simply didn’t work, the company collapsed, and Holmes was charged by the SEC with “massive fraud,” alleging Holmes knowingly misled investors and the public.

^{Elizabeth Holmes in 2015. David Paul Morris | Getty Images.}

After nearly a year of delays due to the pandemic, Holmes’ trial began in 2021, and she was ultimately convicted on four counts of fraud in 2022 and sentenced to 11 years in prison. After a request for a new trial was denied in November 2022, Holmes began her sentence in May 2023. Through it all, Holmes has maintained her innocence. She is currently serving time in prison in Bryan, Texas.

Holmes’ story of deceit has been the subject of widespread media coverage, including a 2019 HBO documentary, The Inventor, and 2022 Hulu miniseries, The Dropout (for which Amanda Seyfried won an Emmy for her portrayal of the disgraced founder).

Related: I Worked Side By Side With Elizabeth Holmes. She Seemed Like a Visionary, but We Were All Duped — and It’s a Comfort to See Justice Served.

Charlie Javice

Charlie Javice, known for her college financial planning startup Frank, was indicted in May 2023 for wire fraud, bank fraud, and conspiracy charges. Javice’s alleged crimes center on exaggerating the value of her startup during its acquisition by JPMorgan Chase in 2021.

Javice was named to the list in 2019 in the category of Finance after founding her company Frank, which aimed to help students apply for loans more efficiently.

Prosecutors claim that she misled the bank by fabricating data and inflating the number of Frank customers. Javice allegedly asked her director of engineering to create fake data, but when he refused, she hired a data scientist to generate a spreadsheet with millions of false user accounts for the $175 million acquisition, and JPMorgan ultimately acquired the app.

However, in November 2022, an internal investigation led to her termination, followed by her arrest in April. In January 2023, JP Morgan sued Javice for defrauding the company. Javice now faces charges of securities fraud, wire fraud, bank fraud, and conspiracy. She is currently out on bail and has maintained her plea of not guilty.

Martin Skrekli

Martin Shkreli was named to the list in 2012 for Finance. At the time, he was recognized for his work as a hedge fund manager and entrepreneur. Shkreli had gained attention for his success in the biotech industry, particularly his involvement with Retrophin, a pharmaceutical company he founded.

Shkreli went on to co-founded several hedge funds and pharmaceutical companies, including Turing Pharmaceuticals, which notoriously acquired the life-saving antiparasitic and antimalarial drug, Daraprim and then raised its price by 5,455% in 2015. The move earned Shkreli, then called “Pharma Bro,” another title: “the most hated man in America.”

In December 2015, he was arrested on charges of securities fraud and conspiracy. The charges stemmed from his involvement with two hedge funds, MSMB Capital Management and MSMB Healthcare, as well as Retrophin.

Shkreli was accused of mismanaging funds, using assets from one of his companies to pay off debts from another, and defrauding investors. The allegations included a scheme in which he illegally used Retrophin’s assets to repay investors who had lost money in his hedge funds.

^{Peter Foley | Getty Images}

In 2017, he was convicted of securities fraud and conspiracy, resulting in a seven-year prison sentence and significant fines.

In 2022, Shkreli was released from prison (about four months early) and is now consulting for a law firm and living with his sister in Queens, New York, according to the U.S. Probation Office.

Related: ‘The Most Hated Man in America’ Where Is Pharma Bro Martin Shkreli Now?

Shkreli also gained notoriety in 2015 when he purchased the sole copy of the Wu-Tang Clan album, “Once Upon a Time in Shaolin,” for $2 million at an auction. Fans and the music industry vets criticized the lack of accessibility to such a culturally significant work, exacerbated by Shkreli’s decision to keep it as a rare collectible without plans for a public release.

Following his conviction, the album was seized by the government (along with his other assets) and ultimately sold in 2021 as part of the forfeiture process. The sale of the album completes Shkreli’s payment of the forfeiture, and the buyer and price remain confidential.

Obinwanne Okeke

Obinwanne Okeke, a Nigerian-born entrepreneur, was revered for his achievements in construction, agriculture, and real estate. But in 2021, he was sentenced to 10 years in prison for his role in a computer-based fraud scheme that caused approximately $11 million in losses to his victims.

Okeke operated a group of companies — including the Invictus Group, which was the center of Okeke’s 2016 “30 Under 30” title — but ultimately conducted various computer-based frauds from 2015 to 2019.

Okeke’s scheme involved obtaining credentials from hundreds of victims and engaging in “email compromise.” Through fraudulent wire transfer requests and fake invoices, Okeke and his conspirators transferred nearly $11 million overseas. He also carried out other forms of cyber fraud, including phishing emails and creating fraudulent web pages. Okeke is serving his sentence and will be released in 2028.

Nate Paul

In June 2023, Nate Paul, an investor once regarded as a “real estate prodigy,” was indicted on eight felony charges for allegedly making false statements on loan applications, which ultimately led to banks loaning the investor over $170 million. According to the indictment, in one application, Paul claimed to have an account with $31.6 million in cash, when in reality the account in question had less than $500,000. Paul’s alleged violations took place between March 2017 and April 2018.

In 2016, Paul was named to the “30 Under 30” list for founding his real estate investment firm.

In November, Paul served a 10-day jail sentence after being held in contempt of court after accusations of financial mismanagement.

Paul is still facing federal criminal charges for bank fraud.

John Cronin, a 28-year-old entrepreneur with Down Syndrome, started John’s Crazy Socks in 2016. The Farmingdale, New York-based company now sells more than 4,000 different types of socks and has hit a major milestone: over two million orders fulfilled, per a report published Wednesday by the New York Post.

The socks on offer range from holiday-focused to Harry Potter-branded. There are also special designs that raise awareness for Down syndrome and autism, and gift packs, like a women’s dog rescue gift containing three different pairs of dog-themed socks.

Cronin, his parents Mark and Carol, and his older brother Jamie run the business together. It has grown to become the world’s largest sock company, per the Post.

Cronin co-started the company with the mission of “spreading happiness.” He handwrites a thank you note and includes two free pieces of candy with every order. At the start of the company’s journey, he would even hand-deliver orders to customers. Over the past eight years, John’s Crazy Socks has donated nearly $800,000 to charities, including the Special Olympics.

Related: These Married Co-Founders Started a Business With a Name ‘Nobody Could Pronounce’ — Then Bootstrapped It From Their Garage to 8-Figure Revenue

“Thank you to our customers,” Cronin said, per the New York Post. “Thank you so much for helping my company.”

How John’s Crazy Socks Began

Mark Cronin explained in an interview with Canvas Rebel last week that the business began when John was exploring his options after high school.

“John could not find anything that excited him,” Mark said. “This is an unfortunate reality that there are just not enough good options for people with different abilities.”

John wanted to go into business with his dad and landed on the idea of selling socks. The father-son duo decided to build a website, get some inventory, and set up a Facebook page with some promotional videos starring John. The first day they opened their virtual storefront, on December 9, 2016, they got 42 orders. In the next two weeks, they got 452 orders.

“We did not know how fast it would grow, we did not know how large it would grow, but we knew we could make this business work,” Mark stated.

Related: Best Friends’ ‘Scrappy’ Side Hustle Led to a Product on Track for $1 Million Annual Sales: ‘Rare to Find Somebody With This Same Passion’

John’s Crazy Socks was built on five pillars: inspiration, giving back, fun products, making it personal, and creating a great place to work.

“We may not be outselling Target and Walmart, at least not yet, but we have more choices than anybody else,” Mark said. In addition, the company employs 34 people, 22 of whom are people with differing abilities.

According to the U.S. Bureau of Labor Statistics, only 22.5% of people with disabilities were employed last year.

Related: I’m Disabled — And Here Are 3 Meaningful Ways Your Company Can Foster a More Inclusive Workplace

A brand’s identity is often thought to originate at the top, defined by executives who set the tone and vision. Yet, in today’s interactive landscape, audiences wield unprecedented influence, shaping how brands are perceived in real time.

Striking the right balance between leadership vision and audience feedback isn’t just important — it’s essential for long-term success. Here’s how to understand this dynamic and build a brand that thrives.

Related: This Overlooked Leadership Trait Makes All the Difference in Your Ability to Captivate an Audience

1. Leadership sets the vision

A brand’s foundation is laid by leadership. Visionary leaders define the mission, values and tone, creating the blueprint for everything the brand represents. Think of iconic brand leaders like Steve Jobs or Elon Musk, whose personal convictions and leadership styles became synonymous with their brands. This clarity of purpose ensures the brand communicates consistently across every touchpoint.

However, leadership isn’t just about setting the tone. It’s also about action. Every decision — product offerings, pricing, sustainability practices — sends signals to the public. A leader’s choices either reinforce the brand’s message or create misalignment. For example, a brand positioning itself as eco-conscious must ensure its operations reflect this commitment. Any gap between message and practice risks eroding trust.

The challenge for leaders is to be steadfast yet adaptable. While consistency builds reliability, leaders must also recognize when audience preferences evolve. This doesn’t mean chasing every trend but staying aware of meaningful shifts that could impact the brand’s relevance. By holding firm to core values while adapting execution strategies, leaders ensure their vision remains intact even in a fast-changing market.

2. Audiences shape perception

In today’s social-first world, audiences are no longer passive participants in branding; they’re active collaborators. Social media, reviews and word-of-mouth amplify consumer voices, sometimes overshadowing leadership narratives. One viral story can reshape public perception in moments, highlighting the need for brands to remain vigilant.

Take the example of LEGO. When customers criticized its product line for reinforcing gender stereotypes, the company didn’t ignore the feedback. Instead, it introduced more diverse and inclusive options, showing a willingness to evolve without losing its identity. This response bolstered LEGO’s reputation as a forward-thinking brand and deepened its connection with its audience.

Listening to consumers doesn’t just mitigate risks — it also uncovers opportunities. Successful brands actively solicit feedback through surveys, forums and social media engagement. This creates a feedback loop where customer insights guide innovation and improvement. For instance, Nike’s ability to stay culturally relevant comes from its leadership’s foresight combined with a keen understanding of consumer sentiment.

The takeaway? Brands must treat their audience as partners, valuing their input and allowing it to shape the brand in meaningful ways while staying true to their mission.

Related: How to Build an Unshakeable Brand Voice and Win Over Loyal Customers

3. Finding the balance between vision and feedback

The most resilient brands succeed because they navigate the interplay between leadership and audience influence. It’s not an either-or dynamic; it’s a partnership. Leaders provide the strategic direction, while audiences validate and sometimes challenge that direction through their actions and feedback.

A key element of this balance is knowing when to adapt without losing authenticity. For example, Nike’s “Just Do It” campaigns consistently push the envelope with bold themes. While driven by a clear leadership vision, the campaigns are also deeply attuned to cultural conversations, striking a chord with consumers. This blend of foresight and responsiveness keeps Nike aspirational and relevant.

Brands that thrive in this space prioritize three strategies: maintaining a strong foundation of values, staying in tune with evolving audience needs and avoiding the trap of chasing fleeting trends. Collaborating with skilled brand strategists or design agencies can help companies fine-tune this balance, ensuring they neither lose sight of their mission nor ignore valuable audience insights.

The path forward

A brand’s identity thrives on balance — anchored by leadership vision yet enriched by audience engagement. The most enduring brands understand this interplay and harness it to build trust, foster loyalty and maintain relevance. However, achieving this balance requires a deliberate approach.

First, prioritize listening. Successful brands actively monitor conversations, solicit reviews and engage in meaningful dialogue with their audience. This creates a feedback loop that not only reveals how the brand is perceived but also uncovers opportunities for growth and alignment.

Next, embrace consistency without rigidity. A clear set of core values and messaging serves as the foundation for your brand, but staying relevant means adapting to audience insights when warranted. Flexibility doesn’t weaken a brand; it strengthens its connection to the people it serves, provided the adjustments remain authentic to the brand’s essence.

Finally, build avenues for engagement that foster loyalty. Consumers who feel heard are more likely to champion your brand. Create opportunities for your audience to be part of the story — through interactive campaigns, social media discussions or exclusive access to new initiatives. This not only strengthens relationships but also ensures your brand evolves alongside its community.

Related: 5 Steps to Position Your Brand for Maximum Success

Ultimately, the most successful brands recognize that leadership provides direction, but the audience shapes the journey. By staying attuned to feedback, remaining steadfast in values and fostering meaningful connections, your brand can achieve the perfect balance — one that leaves a lasting, positive impact.

Brian Thompson, 50, the CEO of UnitedHealthcare was fatally shot Wednesday morning in Midtown Manhattan.

Thompson was arriving at the Hilton hotel around 6:46 a.m. for UnitedHealth Group’s Investor Day, which was being held in the ballroom, where a masked man waiting for him.

“It appears the suspect was lying in wait for several minutes and as the victim was walking to the conference hotel, the suspect approached from behind and fired several rounds, striking the victim at least once in the back and at least once in the right calf,” NYPD Commissioner Jessica Tisch said in a Wednesday statement.

Thompson was taken to a local hospital before being pronounced dead.

“The shooter steps onto the sidewalk from behind the car, he ignores numerous other pedestrians, approaches the victim from behind and shoots him in the back,” said NYPD Chief of Detectives Joseph Kenny at the press conference. “The shooter then walks toward the victim and continues to shoot.”

“From watching the video, it does seem like he is proficient in the use of firearms,” Kenny added.

UnitedHealth Group canceled the Investor Day event.

“I’m afraid that we – some of you may know we’re dealing with very serious medical situation with one of our team members,” UnitedHealth Group staff said during the investor day, according to a transcript, per CNBC. “And as a result, I’m afraid we’re going to have to bring to a close the event today, which I’m sure you’ll understand.”

Thompson was named CEO in April 2021. UnitedHealth Group, which is UnitedHealthcare’s parent company, is No. 5 in the Fortune 500.

The investigation is ongoing and no arrests have been made, per the NYPD.

“We will not [rest] until we identify and apprehend the shooter in this case,” Tisch said.

This is a breaking news story and will be updated.

Apple CEO Tim Cook says AI is an unmistakable turning point for technology.

In an interview with Wired released on Wednesday, Cook discussed AI’s impact on Apple and said it will enhance all of Apple’s offerings at some point by changing the way users interact with their phones, tablets, and laptops.

“AI will reinvent and provide a new era and a new chapter for iPhone and iPad and the Mac and all of our products over time,” Cook said. “Because I think it changes the way you interface with the product.”

Related: Apple Intelligence ‘Changed My Life,’ Says CEO Tim Cook. Here’s How the New iPhone AI Saves Him Time.

Cook stated that he personally uses Apple Intelligence to summarize emails. Apple is an email-based company, he explained, so he gets a high volume of messages from all corners, including from employees and customers. Cook says Apple Intelligence summarizes and prioritizes his emails for him so he knows what to read first.

Siri also received an AI boost in October when Apple released iOS 18.1, which allows Siri to understand more context, handle tech support questions, and switch between text and voice commands with AI. There have been reports that Apple is preparing to launch a new and improved AI version of Siri in the coming months.

In the interview, Cook calls himself a Siri “power user” and says he’s one of the 1.5 billion requests that Siri gets per day. He explained that with AI, more Apple users will use Siri and develop a personal connection with the voice assistant.

“I already have a personal relationship with Siri, but I think more people will because Siri will become more personally relevant and be able to take tasks off your plate that you don’t have to do,” Cook said.

Related: Apple’s Next Device Will Reportedly Be Mounted on Your Wall: ‘They Feel Like They’re Going to Sell a Lot of These Things’

Though AI is expensive, costing over $100 million to train by one estimate, having AI-enhanced features on Apple products doesn’t mean paying extra for them, Cook says. He notes that there were “never” conversations about charging for AI services, like AI that can draft emails or texts from within iPhone, iPad, and Mac. Instead, Apple views AI as a core experience for using its products.

And when it comes to originality, Cook says that using AI to make writing sound more polished or friendlier still means the writing is yours.

“It’s still coming from you,” he stated.

Related: Apple Adds AI Writing Tools to the iPhone 16. Here’s Why That Could Be a Problem.

Irene Chen and Matthew Grenby, co-founders of functional luxury handbag and accessories brand Parker Thatch, are no strangers to well-timed pivots — having used them to build a business that’s been profitable since day one and will hit eight figures in revenue this year.

^{Image Credit: Courtesy of Parker Thatch}

Drawing inspiration from Chen’s background in fashion (as director of product development at Donna Karan) and Grenby’s in UX and design, the couple got their start in entrepreneurship with an e-stationery company called iomoi, which launched in 2001.

Although people liked the idea, it was ahead of its time, the co-founders say. The internet wasn’t yet mainstream, and potential customers weren’t willing to pay for a product they thought should be free. So iomoi began to offer physical products, expanding into home goods with a focus on customization.

Related: She Used $10,000 in Savings to Turn Her Side Hustle Into an 8-Figure Brand You’ve Probably Seen

“I’m like, I want that on a tote bag.”

Then Grenby figured out how to put their popular monogram designs onto 100% cotton — “and the wheels started turning,” Chen says. “I’m like, I want that on a tote bag.” The business was (and still is) entirely bootstrapped, so the couple had to find a creative, cost-effective way to develop the new product.

“When you don’t have a huge sum of funding, it really tests your ability — how do I do this?” Chen says.

They did it by enlisting the help of Chen’s dry cleaner in Danville, California. It was a family business; the woman who hemmed Chen’s pants did excellent work and had a design degree, so they asked her to create a pattern, and she agreed. The bags were made of canvas with two strips of leather attached by rivets for handles. The Goyard stripe was popular at the time, so Chen and Grenby added a stripe design to their own bag.

It was 2009, and the timing was just right, the co-founders say: They “threw a bunch of Hail Marys out there,” which landed iomoi’s bags in holiday gift guides just in time for the seasonal shopping rush. Their “Mimi” bag was an instant hit, even catching Reese Witherspoon’s eye, and is still a bestseller today.

^{Image Credit: Courtesy of Parker Thatch}

Related: Reese Witherspoon Shares Her Ambitious New Daily Habits, and Ina Garten Hilariously Responds With More Realistic Goals: ‘Drink More Large Cosmos’

“In order to scale and really become what we wanted to become, we needed to pivot.”

Chen and Grenby continued to grow the brand over the next several years, moving their operation from their garage to a small office in Lafayette, California before they outgrew it and transitioned to a larger space in Orinda in 2015. The new office had a great window, which inspired the co-founders to open a showroom.

That same year, Chen and Grenby’s friends and mentors Kate and Andy Spade, the husband-and-wife team behind fashion company Kate Spade New York, gave them some important advice. It was time to rename the company, which “nobody could remember or pronounce,” Grenby recalls.

The co-founders often spent time in Napa with the Spades, and after some evening brainstorming sessions, playing around with different ideas, Kate mentioned how she’d always loved the name “Thatch.” Chen and Grenby’s daughter’s name is Parker and their son’s is Thatcher; “Parker Thatch” was a natural fit.

Customization was an integral part of the brand’s handbags and accessories, but eventually, it became clear that it wasn’t sustainable. “It’s really difficult to scale that,” Chen says. “We had a great bag and a great business, but in order to scale and really become what we wanted to become, we needed to pivot.”

“That had been our bread and butter for all those years,” Grenby adds, “and that’s what had allowed us to grow as far as we had, but we sort of went as far as we could with that approach. There were just so many operational inefficiencies and bottlenecks that wouldn’t let us [continue to expand].”

^{Image Credit: Courtesy of Parker Thatch}

Related: Crush Your Growth Goals — Make These 5 Bold Moves to Scale and Keep Your Vision Intact

The co-founders also wanted to introduce new colors and materials, including leather, to Parker Thatch’s line.

Although moving away from the brand’s original customizations was the right decision, it was still a difficult one. Chen likens the experience to jumping off a diving board and being unsure of where you’ll land, and Grenby agrees, adding, “You know it’s water, but how deep is it? Is there a rock? Is there a shark? You just have to take that leap of faith.”

“I want things to be elegant and beautiful.”

Taking that chance paid off — and helped Parker Thatch redefine itself as a brand that’s “all about functional and elevated luxury.”

“I find that’s where we hit our stride, and that’s who I am as a person,” Chen says. “I’m not a fussy person, but I want to look good, and I want things to be elegant and beautiful. But I want to use it every day, and I want you to use your bag every day.”

Parker Thatch let go of one version of customization to scale, but it’s since embraced another. Customers can personalize their bags with interchangeable straps — like 100% cow hair in camo print with cognac leather trim or navy and white beading with suede sides — and charms: hearts dangling from acrylic tortoise chains, mother-of-pearl evil eyes, and so much more.

“That all stems from when we first started monogramming our bags,” Chen explains. “Everyone has different personalities, and it should reflect on their bags. So I give you a bag that everyone could carry, but I believe that the straps [and charms] that you choose [are] a reflection of you.”

Related: ‘Rules Are Suggestions’: This Fashion Founder Is Using AI to Eliminate the Industry’s Massive Sizing and Waste Problems

“If it’s not authentic, people sense that.”

Parker Thatch continues to sell direct-to-consumer from its website, but it’s also added a store to its Orinda showroom. Customers can make virtual or in-person appointments to shop and customize their look.

“We value connecting with our customer in that way,” Grenby says, “and they value it too because they get to touch and feel the product.”

Next year, the co-founders look forward to growing the brand via new channels of distribution and finding continued success with its designs, like the increasingly popular broken-in leather concept that’s attracting buyers to the “Jack” tote (which quickly sold out and is now available for pre-order).

Chen and Grenby have learned a lot over their past 20-plus years in business, including how to stay competitive in a crowded market — and the difference between entrepreneurs seeking flash-in-the-pan success and those who want to build a company with longevity.

^{Image Credit: Courtesy of Parker Thatch}

Related: Want a Company That Lasts Forever? This Simple Business Strategy is the Secret to Longevity

Doing the latter requires a certain level of “grit,” the co-founders say. “Sometimes people [think] grit means you have to hang on as tight as you can and just keep going and go hard,” Chen explains. “But I’ve discovered it’s more the longevity of it and the consistency of it. It’s just sticking to it.”

And, yes, Parker Thatch makes handbags, but its “true mission” is about giving customers a confidence boost, Chen says: “I want to make a handbag that when you put it on, you feel like you got a little swagger. So when you’re not feeling great that day, [you put that bag on and are like], Okay, I can do this.”

Finding that “why” helped supercharge the company — and serves as a solid defense against inevitable industry challenges, like competitors that produce knock-offs, Grenby says.

“That ‘why’ is not something that’s not easily copyable,” he explains. “If it’s not authentic, people sense that, and they value authenticity.”

Leadership isn’t one-size-fits-all, but if you break it down, I believe there are four main pillars that most leaders lean on: performance, process, people and planning. Every leader brings a unique approach to the table, and, often, one specific style becomes a primary driver of how they lead.

Today, we’re going to focus on performance-oriented leaders. Performance-oriented leaders are focused on results, action and tangible outcomes. When business needs to move quickly, leaders who prioritize performance can adapt, establish a fast pace and ensure objectives are met.

Like any leadership style, this approach has its challenges. Here’s an in-depth look at what it means to be a performance-driven leader, how to make the most of it and how to overcome its potential pitfalls.

Related: The 4 Pillars of Leadership Success

What is a performance-oriented leader?

Performance-oriented leaders are laser-focused on results. They thrive in environments where productivity, efficiency and achieving goals are paramount. They set high standards, expect accountability and often drive their teams to hit ambitious targets.

In contrast to process-oriented leaders who might take a more methodical approach or people-oriented leaders who emphasize team well-being, performance-oriented leaders prioritize outcomes and often make quick decisions to keep things moving forward.

Strengths of performance-oriented leadership

Results and goal orientation:

Performance-driven leaders are often results-driven to the core, setting big goals for themselves and their teams. They’re skilled at creating an environment that encourages productivity and efficiency, which can propel the entire team toward meeting and exceeding expectations.

This approach helps create a culture where everyone understands the value of getting things done, and progress is measurable and constant.

Effective and fast decision-making:

Performance-oriented leaders know that not every decision requires hours of deliberation. They’re adept at assessing situations, trusting their instincts and making quick calls to keep the momentum going. This decisiveness can help businesses stay agile and responsive, especially in times of change or uncertainty.

Strong delegation skills:

Performance leaders understand that time is a limited resource, so they’re comfortable with delegating tasks to the right people. They know which team members are best suited for each job and empower them to take ownership of specific aspects of a project. By breaking down large projects into smaller, actionable steps and assigning them across the team, performance-oriented leaders keep things on track without becoming overwhelmed.

Accountability and clear expectations:

Setting expectations and holding the team accountable are core tenets of performance-driven leadership. Performance-oriented leaders communicate clearly and ensure each team member knows their role in achieving the desired outcome. This clarity fosters accountability, as each person understands what’s required of them and can measure their progress.

Related: How Your Leadership Style Impacts Your Business Goals

Potential drawbacks of performance-driven leadership

Lack of attention to process:

Because performance-oriented leaders are often so focused on achieving the end goal, they may overlook the details of how work gets done. This can lead to short-term wins but may create long-term issues if the processes aren’t sustainable or scalable. Without a structured approach, teams might achieve their goals, but potentially at the cost of inefficiencies or inconsistencies that could slow them down later.

Risk of overlooking team well-being:

Performance leaders sometimes prioritize results over relationships. While this can drive impressive outcomes, it can also contribute to high levels of stress within the team. In focusing so intently on outcomes, there’s a risk of overlooking employee satisfaction, morale and well-being. When left unaddressed, this can lead to burnout or even high turnover, ultimately hindering performance in the long run.

Reduced focus on big-picture vision:

The quick decision-making style of a performance-driven leader is great for immediate results but can sometimes overshadow the big picture. When decisions are made rapidly and focused solely on achieving results, leaders may miss opportunities to refine strategy or anticipate future challenges. Over time, this can lead to a disconnect between the team’s daily actions and the larger organizational vision.

How to maximize performance-oriented leadership

Add a layer of strategic reflection:

To counterbalance the drive for fast action, make time for regular reflection on both the processes and results. Review recent decisions with an eye on how they fit into long-term objectives. By creating space for strategic thinking, you’ll gain insights into the effectiveness of your approach and can identify areas where a slower, more thorough process might benefit the team.

Make employee well-being a priority:

Performance-oriented leaders can strengthen their approach by taking a few moments to connect with their team on a personal level. Checking in with team members, asking how they’re doing and actively listening to their concerns can help create a more balanced and supportive work environment. This doesn’t mean slowing down or reducing expectations, but it does mean showing genuine interest in the team’s well-being to create a positive culture that sustains high performance.

Stay open to collaborative input:

Collaboration doesn’t need to slow down decision-making — it can actually make it more effective. By welcoming team feedback, especially on high-stakes decisions, performance-driven leaders can ensure that critical insights and alternative perspectives aren’t overlooked. This helps to refine decisions and build team trust without sacrificing the results-focused drive.

Create accountability without overpressure:

Holding people accountable is critical, but performance-oriented leaders need to make sure expectations are realistic. When setting ambitious goals, consider the team’s workload and capacity. Encouraging open communication around challenges and roadblocks can help the team feel supported rather than pressured, leading to a more sustainable, engaged approach to high performance.

Related: This Leadership Technique is the Secret to Optimal Team Performance

Leaning into a performance-driven approach as a leader can be incredibly powerful. It builds a culture of results, encourages accountability and ensures quick progress toward goals.

But, like any leadership style, it’s essential to balance strengths with self-awareness, paying attention to team well-being, process and strategic reflection. By keeping these potential drawbacks in mind, performance-oriented leaders can continue to drive results while creating a positive, sustainable work environment.

Welcome to another episode of Entrepreneur Elevator Pitch, the show where entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.

As many of our contestants learn, getting your pitch out in time is no easy task — but sealing a deal can be even harder. Our board of investors comes at them with all kinds of questions, digging into their costs, marketing strategies and sales traction (or lack thereof). On this show, you have to know your numbers — and be able to think fast — if you want to make it out with a life-changing deal.

Related: A Near-Tragedy Spurred This Dad’s Invention — Now Worth Millions

If you’re planning to make a pitch to investors in the near future, you’d be wise to take in these valuable words of advice from Marc Randolph, co-founder of Netflix: “When you’re making your pitch, I want you to tell it, not sell it. Sure, describe your product, but I’m not your customer — I’m an investor. I want to know that other people are going to like it. I want to know how that’s going to make my investment profitable. And most importantly, I want to see that you have the chops to make your business work.”

Find out who makes it into the boardroom and comes out with a deal on an all-new Entrepreneur Elevator Pitch!

Season 12, Episode 7 Board of Investors

Season 12, Episode 7 Entrepreneurs

• Khalid David, founder of TracFlo, an online platform that provides a central location to input, track and approve changes to project costs for subcontractors, general contractors, designers and owners
• Seena Chriti, founder of Paktli Foods, gluten-free, organic puffed quinoa and ancient grain snacks
• Jasmine Johnson, founder of Parent Co, innovative electric outlet covers for baby childproofing

How to Watch

Season 12 of Entrepreneur Elevator Pitch is presented by Amazon Business. New episodes stream on Wednesdays on Entrepreneur.com and EntrepreneurTV. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.