January 2025

So much for that “great wealth transfer” that’s on the horizon. Despite millennials and Gen Xers being poised to inherit around $84 trillion by 2045 during the “silver tsunami,” it looks like boomers want to stand pat.

According to a new report from Charles Schwab, almost half of boomers surveyed (45%) said they wanted “to enjoy my money for myself while I’m still alive” — while only 11% of Gen Xers and 15% of millennials said the same.

Schwab’s survey of 1,000 high net worth (HNW) Americans, which is defined as people with more than $1 million in investable assets, found a sizeable generational shift: Millionaire millennials and Gen X were more than twice as likely to opt for sharing their wealth during their lifetime than Boomers.

Related: Baby Boomer Businesses Are Up for Grabs — Here’s How Entrepreneurs Can Benefit In 2025

“Schwab serves over a million multi-millionaires, and as they move from building wealth to preserving and passing it, we see an increasing need for specialized services and support around estate planning, wealth transfer, and legacy planning,” said Andrew D’Anna, managing director of retail client experience at Charles Schwab. “According to our survey, younger Americans could be poised to reshape legacy planning and the future of how wealth is passed to the next generation.”

Still, just because younger Americans plan to give more away sooner, it doesn’t mean they’re making it easy. While younger HNW individuals are more keen to give their money away—it comes with a catch.

According to the report, these plans have “strings attached.” Of millennials and Gen Xers who already have wealth transfer plans, a whopping 97% and 94%, respectively, have put “stipulations” in the contracts. Meanwhile, only one in three (around 34%) of Boomers have the same.

For millennials, most people said the catch is about how money can be used (43%), while more of Gen X (46%) preferred to set an age for when the next generation receives the wealth.

According to USA Today, some financial planners are trying to convince their clients to pass their wealth to their children while they are still young adults.

“It’s the 20- and 30-year-olds who need it the most,” Michelle Crumm, a certified financial planner in Ann Arbor, Michigan, told the outlet. ”Those two decades are the ones that have the highest needs and the lowest ability to have any money coming in.”

But her clients aren’t budging, she said, responding with things like: “Nobody ever gave me anything.”

For the full report, click here.

Nearly every industry is going through digital disruptions, making entrepreneurship more accessible. However, the constant change in the tech landscape makes it hard to keep up and settle on a tech strategy.

When the goal is to work on your business, not in your business, make the tech work instead of building connections with your audience and attracting your ideal clients. Where mindfulness has become a practice to step away from the digital world, incorporating some of the same practices will lighten the digital load.

A mindful approach to tech isn’t just about slowing down — it’s about creating space for strategic, values-aligned decisions. By taking time to assess each tool’s impact, entrepreneurs can avoid “tech bloat,” where unnecessary platforms slip into daily operations and complicate workflows.

Related: Conventional Business Models Weren’t Cutting It — See How Innovating With AI is Changing the Game for Startups

The overwhelm of tech choices

The tech revolution has driven an “always-on” culture where constant connectivity and quick changes lead to burnout and reactive decision-making. To maintain balance, a conscious approach to tech adoption can help ensure technology supports us rather than being driven by it.

Entrepreneurs face significant challenges when managing their tech stack, from selecting the right software to dealing with connectivity issues and staying within budget. New digital tools are marketed as solutions to common pain points, leveraging success stories to encourage quick adoption. However, these tools can be challenging to integrate into existing systems and processes, creating more work and new pain points.

Why mindfulness matters in a tech strategy

Embracing tech decisions as a series of thoughtful steps rather than reactive moves helps make a business unique. It ensures the business owner is well-supported and can focus on building a company that reflects its values.

Taking a mindful approach encourages entrepreneurs to pause, reflect and evaluate whether their current tech continues to support their goals. Regularly reflecting on whether tools work for them creates a continuous improvement cycle and allows for change without compromising the business’s integrity. This approach ensures that tech supports growth, not a source of pressure or burnout.

Applying mindfulness to your tech

Here are some considerations for a mindful approach to tech decision-making:

• Pause and assess: Before investing in new technology, evaluate whether it aligns with your goals, values and personal capacity to ensure that the choice contributes meaningfully to your operations.
• Prioritize and simplify: Focus on essential tools that add genuine value rather than being drawn into trends to maintain a streamlined tech stack that supports efficiency and reduces complexity.
• Reflect and iterate: Review your current tech setup regularly to determine whether it meets your business needs. Make adjustments thoughtfully and avoid reactive changes to ensure the technology continues to serve your evolving goals.
• Mindful auditing: Periodically evaluate your tech tools and ask, “How does this still align with my business goals?” You should be able to see how each tool supports your business to prevent tech bloat and keep in alignment with strategic goals.
• Intentional implementation: Plan new technology with clear steps, considering factors like the learning curve and potential challenges. Then, phase out old technology to promote smooth integration and practical use.

Related: Why Practicing Mindfulness in Daily Life Is Invaluable For Entrepreneurs

As someone who loves trying new tech, I’ve learned the importance of mindful assessment to avoid cluttered workflows and wasted resources. Early in my entrepreneurship, I eagerly adopted several productivity tools, believing they would enhance efficiency. Instead, they created bloat and duplicated efforts, draining time, money and energy. I could never fully leverage any tool, being too wrapped up in what the tools could do versus what I needed from them.

One example involved a client whose team used three task-tracking platforms for clients, marketing and internal projects. They faced communication issues and decreased productivity from copying details from one platform to another. We paused to assess their core needs and found that some tweaks to their processes meant we could better leverage just one of their platforms to streamline operations and reduce costs.

A mindful approach to tech choices is more than just a feel-good concept; it is a practical strategy to enhance clarity, reduce stress, and create a cohesive, value-driven tech environment. By thoughtfully evaluating and integrating technology, entrepreneurs can ensure that their tech choices align with their goals and support sustainable growth without unnecessary complexity.

Take one small step today: take some time to think about a piece of tech that you use regularly. How does it support you? What effort does it require from you? Is it worth it?

What separates a good manager from a great leader? It’s not just results; it’s the ability to inspire, adapt and bring out the best in others. Great leaders don’t simply oversee work; they set the tone, create the vision and foster an environment where individuals and teams thrive.

When I founded ButterflyMX, I quickly learned that effective leaders can transform workplace culture, elevate team performance and drive long-term success. Whether you’re leading a startup or managing a team within a larger organization, understanding and cultivating core leadership traits is essential for achieving these outcomes.

Related: 12 Character Traits Exceptional Entrepreneurial Leaders Have In Common

The core traits of effective leaders

Great leaders aren’t born; they’re made through intentional practice and a commitment to growth. While every leader brings their own unique style, there are core traits that consistently drive success, build trust and inspire teams to perform at their best.

Visionary thinking

Effective leaders think beyond the immediate. They have a clear vision of the future and can articulate it in a way that excites and aligns their team. Visionary leaders inspire others to see the bigger picture and their role in it.

Prioritize explaining your goals and why they matter. Watching your team embrace your vision and seeing the pride in their contributions can be one of the most rewarding moments of your career. It wasn’t just about achieving milestones but building something meaningful together.

Empathy and emotional intelligence

Leadership is all about connections. Empathy enables leaders to understand their team members’ perspectives and challenges, which creates a culture of trust and support. Emotional intelligence helps leaders navigate complex interpersonal dynamics and ensures that every voice feels heard.

An empathetic leader takes the time to check in with their team and recognizes personal and professional challenges. This connection builds trust and loyalty and empowers your team to perform at their best.

Adaptability

In today’s fast-paced world, adaptability is non-negotiable. Whether you’re responding to unexpected challenges or seizing new opportunities, adaptable leaders inspire confidence through their calm and resourcefulness.

Think of the managers who successfully guide their teams during times of change. Their ability to pivot quickly and guide their teams through uncertainty turns potential disruption into growth opportunities.

Accountability

Great leaders own their decisions, celebrate wins and take responsibility for failures. Accountability fosters trust and shows your team that you’re committed to fairness and growth.

When a project doesn’t go as planned, an accountable leader addresses the missteps openly and focuses on solutions, modeling the behavior they want to see in their team.

Communication skills

The best leaders are exceptional communicators. They provide clarity, give constructive feedback and motivate their teams through every interaction.

Regular one-on-one check-ins, transparent updates and clear expectations ensure every team member feels informed and aligned with organizational goals.

Related: 8 Must-Have Leadership Qualities for Workplace Success

What every manager should strive for

Being an effective leader is about embodying the qualities that create lasting impact.

Fostering growth

The best managers are also mentors. They invest in their team members’ development and help them acquire new skills and achieve their goals.

For instance, a manager encouraging employees to lead a new project builds their confidence while strengthening the team’s capabilities.

Building a positive culture

A thriving workplace culture doesn’t happen by accident. Effective leaders create an environment of respect, recognition and collaboration.

When employees feel valued and supported, they’re more motivated to contribute to the team’s success. It can be easy to get caught up in chasing the next milestone without pausing to reflect on small achievements.

Take a few minutes out of each company meeting to highlight the small wins, like a successful demo or an especially thoughtful customer review. These moments of recognition brought the team closer together and reminded us all why we do what we do. Building a positive culture is about consistently showing people their work matters.

Balancing authority and approachability

Great leaders strike the perfect balance between authority and approachability, maintaining professionalism while remaining open and accessible. They also encourage open dialogue and collaboration.

Approachable leaders make it easy for team members to voice concerns, share ideas and seek guidance, fostering trust and transparency.

Common challenges and how to overcome them

Even the most effective leaders face challenges that test their abilities and resilience.

Here’s how to overcome them:

• Imposter syndrome: Focus on continuous learning. Leadership isn’t about being perfect; it’s about growth. Seek mentorship, read widely and remember that confidence comes with experience.

• Delegation struggles: Trust your team. Delegation is about empowering others, not relinquishing control. Start small and build confidence as you see your team succeed.

• Navigating conflict: Approach conflict with curiosity, not defensiveness. Great leaders see disagreements as opportunities to strengthen relationships and find creative solutions.

Related: 25 Ways to Lead, Inspire and Motivate Your Team to Greatness

Actionable steps for aspiring leaders

Becoming a great leader doesn’t happen overnight. Instead, it’s a journey of continuous learning and intentional effort. By taking practical steps to refine your skills and connect with your team, you can start building the foundation for lasting leadership success.

Actionable steps:

• Identify your leadership style: Are you a visionary leader, a hands-on leader or a mix? Understanding your style helps you lean into your strengths and address weaknesses.

• Build a feedback loop: Ask your team for honest feedback about your leadership. This shows you value their input and are committed to growth.

• Commit to continuous development: Leadership is a lifelong journey. Read books, attend workshops and seek out mentors to sharpen your skills.

• Practice active listening: Make time to understand your team’s needs and concerns. Listening builds trust and creates a foundation for strong relationships.

Becoming the leader your team deserves

Leadership is about progress, not perfection. By cultivating these core traits and striving for growth, you’ll inspire your team and set the foundation for long-term success.

Your vision, empathy and ability to bring out the best in others will drive the right decisions and, ultimately, the team’s success.

Rideshare driving was the most-searched side hustle last year, garnering nearly 31,000 monthly Google searches, per a Creative Fabrica study. More than seven million people drive or deliver with Uber alone every month.

However, Uber CEO Dara Khosrowshahi said in an interview on Friday that driving for Uber is only a safe gig for the next decade. After that, autonomous vehicles, or cars that drive themselves, will take over the same routes humans drive today.

“You fast forward 15, 20 years, I think that the autonomous driver is going to be a better driver than the human driver,” Khosrowshahi told the Wall Street Journal’s Joanna Stern at WSJ Journal House Davos. “They will have trained on lifetimes of driving that no person can, they’re not going to be distracted.”

Khosrowshahi pointed out that over a million car fatalities happen per year and that self-driving cars could make for safer trips.

Related: Traffic Jam Caused by Self-Driving Cars in San Francisco Sparks Outcry and Safety Concerns

“I think the human displacement here, while it’s not something that is going to happen tomorrow, is going to happen eventually,” he said. “And it’s something we have to think about, society has to think about.”

According to researchers at the University of Central California who put together data from 2,100 accidents involving autonomous vehicles and 35,000 accidents involving human drivers, autonomous vehicles generally show more safety than human-operated vehicles in most scenarios. However, self-driving cars have five times the risk of getting into accidents when operating at dawn and dusk when compared to human-driven cars.

Khosrowshahi acknowledged the drawbacks of autonomous vehicles as they are today, stating that they currently have limited areas of origination, destination, and overall areas of operation. The upfront costs, including the cost of mapping routes, are expensive, and the hardware isn’t as advanced as it needs to be for widespread adoption.

Autonomous vehicles aren’t going to take over all at once, but instead are going to start by augmenting what humans can do over the next decade, he said. They are going to start by taking over the easier routes.

Related: Waymo’s Driverless Robotaxi Fleet Is Making 50,000 Trips Per Week — Here’s Where the Cars Are Headed Next

“I think for the next 10 years you’re going to have hybrid networks of humans and machines,” Khosrowshahi said.

What autonomous vehicles mean for Uber drivers

Khosrowshahi said autonomous vehicles are making the company rethink how Uber earners can make money.

Uber started with driving services and expanded to food deliveries and shopping. Now, there’s a group labeling maps and another group helping AI companies develop their algorithms. All of these present new ways for Uber drivers to earn income.

“We are making investments in creating alternative methods of making money for our earner base,” Khosrowshahi said, adding that he wasn’t sure which will get there faster — Uber in terms of opportunity or autonomous vehicles in terms of job replacement.

According to Uber’s latest earnings report for the third quarter of 2024, released in late October, the company had 161 million monthly active platform users. Drivers and couriers earned $18.1 billion including tips during the quarter, a 14% year-over-year increase.

If you’re new to franchising, the abundance of information can seem overwhelming. How do you know where to start? You may have a generalized understanding of franchising, but part of performing due diligence means moving beyond the general and getting into the nitty gritty.

When it comes to understanding different franchise models, there are several categories to be aware of. First, you’ll want to understand the differences between “brick-and-mortar” and “service-based” franchises.

Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.

Location-based (Brick-and-Mortar) businesses

Brick-and-mortar franchises require significant upfront investment, particularly for real estate. Establishing a physical storefront or office space can involve high costs, and finding the right location is critical to success. Consequently, these businesses often experience a longer ramp-up period before reaching profitability.

Despite the high initial costs and extended setup time, brick-and-mortar businesses are known for their scalability. Once a successful model is established at a single location, expansion becomes more feasible, with additional locations benefiting from the existing brand presence and operational experience. Many of these businesses also integrate advanced technology solutions to enhance customer engagement and streamline daily operations.

However, the reliance on a specific location introduces risks. Factors such as local competition, foot traffic, and economic conditions can greatly influence the success of the franchise. Additionally, compared to service-based models, brick-and-mortar franchises are generally less recession-resistant, as discretionary spending tends to decrease during economic downturns.

Related: See Which Brands Topped Entrepreneur’s 46th Annual Franchise 500

Service-based businesses

Service-based franchises offer several advantages, making them an attractive option for prospective franchisees. They typically require a lower initial investment compared to brick-and-mortar businesses, have a quicker ramp-up time, and are highly scalable through territory expansion. With integrated technology capabilities, these franchises can streamline operations and improve customer experience. Additionally, because services are performed at the customer’s location, they carry negligible location risk, and many offer higher recession resistance by providing essential services.

Within the broad category of service-based franchises, two primary models emerge: project-based and subscription-model franchises. To illustrate, consider a roofing company as an example of a project-based franchise. This model involves providing one-time, high-value services, with revenue tied to individual projects. On the other hand, a lawn fertilization company represents a subscription-model franchise, where customers pay for recurring services, ensuring a steady revenue stream. While both types fall under the service-based umbrella, their operational models, customer relationships, and revenue structures vary significantly. This distinction allows franchisees to choose a model that best aligns with their goals, financial capacity, and market conditions.

Related: Here’s how we determined our annual Franchise 500 ranking and what we learned from the data.

Project-based model

Consider a customer in need of a new roof for their home – this is a high-ticket expense. Barring unpredictable weather like high winds or hail, they likely won’t be buying a new roof more than once every decade or more. Therefore, your customer base is not dependent on recurring customers. While this may not sound like a good thing, there are benefits to this model.

Often, these types of businesses can hire contractors based on the needs of a particular project. Rather than having a large employee team on hand waiting for customers to buy your product, a project-based franchise will wait until an order has been placed before hiring contractors to perform the service. You may only need yourself and an in-office worker to manage projects. This presents a variable cost model that means that the franchisee can maintain relatively lower overhead costs.

That said, take note of your strengths. The project-based model requires a more sales-oriented approach. Since these are high-ticket transactions, the salesperson (likely you as the owner, unless you are hiring a general manager) will need to interact with the customer before the service is performed to build trust and credibility. Furthermore, consider what kinds of projects you are interested in taking on. Is your focus residential home roofing? Commercial? The larger the projects, the more sales-savvy you’ll need to be. While this can lead to a much larger and more profitable business, an understanding of B2B is highly useful.

Also worth noting: while you likely won’t have many recurring customers, there are opportunities to obtain new customers through referrals from complementary service providers. This will require more upfront time and marketing effort, but it can pay off in spades if you proactively build this into your process.

Other “project-based” franchise examples include: restoration, fencing, siding, windows, remodeling, flooring, window treatments, and residential or commercial painting.

Related: The One Factor the Top Franchises of 2025 Have in Common

Subscription-model

Alternatively, consider customers who require lawn-fertilization services. This is typically a recurring service that may be needed bi-monthly (if not more frequently). Each service is low-ticket, but due to the ongoing nature of these services and the ability to stack many customers daily, this can also be a highly profitable and durable franchise model.

Unlike the roofing example above that can rely on contractors, a subscription model will have higher fixed costs. Lawn care companies require consistent labor employees, equipment (sprayers, spreaders, trucks, trailers, etc.), and possible in-office personnel in addition to your general manager. These costs add up.

However, dissimilar to roofing, which relies on strong sales skills, customers for lawn care may not even talk to a salesperson. With integrated technology (which is increasingly common in these franchises), your customers may simply book online or request virtual quotes from a national call center. Another value-add to the subscription-model is that your customer base is essentially unlimited. Less time will be spent finding customers and building out each project to match their needs. A lawn care company offers a specific set of services that can be templatized and repeated as a plug-and-play service.

Other “subscription-model” franchise examples include: irrigation, pest control, pool maintenance, HVAC, window cleaning, restaurant hood cleaning, parking-lot maintenance, pet grooming, child enrichment, and senior care.

While you’ll certainly learn lessons as you go, in franchising in particular, it’s important not to put the cart before the horse. The franchise model you choose at the beginning of your franchise ownership journey can be the difference between success and failure. Ensuring a compatible match upfront is vital for longevity in your future business.

When Bill Gates stepped down from Microsoft’s board in 2020, it seemed to be the end of the entrepreneur’s almost four decades at the tech giant he co-founded in 1975. Though on his Gates Notes blog, he states he is still a “technical advisor,” it wasn’t clear how much time he was actually spending at the company.

Gates spent 25 years as CEO and transitioned into a part-time role at Microsoft in June 2008. And despite officially stepping down in 2020, it looks like Gates never actually retired.

In a new interview with the Wall Street Journal, Gates said that he is still doing “product reviews” at Microsoft, and it takes up “maybe 15%” of the 69-year-old’s time.

Related: Melinda French Gates Announces Open Call for $250 Million Fund. Here’s Who Can Apply.

Gates also said that he and current Microsoft CEO Satya Nadella still have a “very close relationship.”

“I love doing product reviews, and he brings me in to do that,” Gates said. “It’s maybe 15% of my time. It helps me stay up-to-date.”

^{Microsoft Co-founders Bill Gates and Paul Allen pose for a portrait in 1984 in Seattle, Washington. (Photo by © Doug Wilson/CORBIS/Corbis via Getty Images)}

This is a departure from April 2024, when Business Insider reported that Bill Gates was working behind the scenes at Microsoft, and a company spokesperson told the outlet, “Bill is not at Microsoft and not involved here.”

So, it doesn’t look like Gates will be fully retired anytime soon.

As his blog says: “I have a front seat view to all the amazing work the company continues to do in my current role as a technology advisor, and I can’t wait to see what’s next.”

Related: Microsoft CEO Satya Nadella Says the Company Needs a ‘Culture Change’ After Security Failures

Working on your big startup idea, securing finance and finding those first core team members are all time-consuming tasks. Branding and marketing may not be the first things on your mind, but neglecting them could be devastating for a new company. On the other hand, building a strong brand identity for your early-stage startup could lay the foundations of a successful marketing strategy.

Building a brand identity from the moment a startup idea takes shape is one of the most powerful moves founders can make. Your brand identity helps you articulate your unique value proposition and translate it into highly recognizable visual and verbal elements.

A brand identity is more than your logo. Your company name, colors, fonts, messaging and tone all add to a unique identity that audiences recognize immediately. That kind of recognition is invaluable in the early stages of a business trying to make its mark in a crowded startup scene.

Every quarter, more than 300,000 businesses are founded in the United States. However, 90% of them never make it past their first five years of operations — and while a strong brand identity may not be the only factor deciding which companies fail or thrive, it will help you build brand trust and connect emotionally with your audiences.

Consequently, you carve out a unique position in a crowded market even before you have secured a substantial market share or recognition.

Related: How to Establish a Distinct Brand Identity in a Saturated Market

Understanding your brand’s core: Mission, vision and values

Building a brand authority starts with clarifying your startup’s mission, vision and values. Define clearly why your business exists, what difference you’re planning to make to your customers’ lives and which principles are guiding your actions.

From these answers, you distill your unique value proposition (UVP). Your UVP is the one thing that sets you apart from everyone else in your field. It could be a specific technology, superior customer experience or an innovative approach to solving a problem.

It’s impossible to build a successful brand without understanding the audience’s needs, pain points and aspirations. These insights should inform every decision you make.

Translating brand strategy into visual identity

Once you have defined the fundamental parts of your brand identity, it’s time to look at the details of your visual identity.

Your company’s name and tagline need to be memorable, pronounceable and distinctive. Develop your tagline based on your UVP to capture your brand’s purpose. This is an opportunity to tell your audiences what your startup is all about.

Next, consider your logo and color palette. Some of the strongest logos are simple, versatile and easily recognizable. Think of the logos of household names like Apple or Nike as examples of brands with exceedingly simple yet powerful logos. Don’t be afraid to take inspiration from brands you admire, but avoid copying competitors, as this would only confuse audiences.

Color choices are just as important because they can evoke emotions in your target audiences. For example, dark blue and gray have become favorites with banks, financial services institutions and other professional services companies.

Whether your company is looking to convey a modern and minimalist or friendly and playful image, your chosen typefaces and imagery need to reflect your brand values, too.

Related: 7 Tips for Developing a Logo That People Won’t Forget

Crafting a consistent verbal identity

Branding doesn’t stop with visual elements alone, but it shines through every piece of communication your company publishes. Your startup’s origin story or the founder’s path to the initial “aha” moment are powerful narratives that can help you make an impression with prospective customers.

Think about the kind of voice that would suit your brand’s character. A fintech brand may opt for a serious, authoritative voice whereas a kids’ clothing brand might opt for caring and approachable. Remember to adjust your tone for different channels without losing your core brand personality.

To help your team embrace your verbal identity, consider developing a set of key messages that articulate the brand’s promise and differentiators. Just like you adapt your tone to your communications channels, you need to adapt your key messages depending on where they’ll be published. Social media posts need to sound different from press releases, for example.

Ensuring consistency across touchpoints

We mentioned adapting your messages on different communication channels above. However, those adaptations should never challenge the consistency of your brand voice. Inconsistency undermines brand recognition and budding consumer trust.

Creating a brand manual or brand style guide allows you to ensure a high level of consistency across the team and touchpoints. In addition, offering training sessions and easy-to-follow guides to internal stakeholders like employees and contractors keeps everyone aligned.

Related: 5 Steps for Making Your Brand Identity More Consistent

Adapting and evolving your brand as you grow

As you’re launching your brand, start gathering customer and stakeholder feedback to understand how your brand resonates with audiences. Don’t be afraid to make changes to your brand; as your startup evolves, it is only natural that your brand changes.

Consider Apple’s initial logo, for example. The logo shows Isaac Newton reading under a tree. By today’s standards, that logo is perhaps not ideal to make connections with wide audiences. The next iteration was the version of the logo we all know today.

For most brands, thoughtful and incremental changes work better than abrupt overhauls. However, if managed well, rebranding can be highly successful. As you’re changing your brand identity, remember to remain authentic and focus on making real connections that build brand trust.

Building a strong brand identity helps your early-stage startup differentiate itself from potential competitors, gain traction and develop a loyal following. Start with a solid strategic foundation, create a cohesive identity, and ensure consistency across all platforms. As your brand develops, remain open to iteration to transform from zero to hero in your audience’s eyes. Authenticity, clear messaging and customer-centric thinking will ensure your brand continues its growth trajectory for years to come and increase its presence in the market.

This Side Hustle Spotlight Q&A features Cristina Ashbaugh, 28, and Kelly McGee, 29, co-founders of the design-driven ski pole brand Yardsale. The San Francisco-based duo’s business saw $100,000 in sales in its first month and $300,000 at the end of its first year (with a ski season of only four months). Responses have been edited for length and clarity.

^{Image Credit: Courtesy of Yardsale}

What was your day job or primary occupation when you started your side hustle?
CA: I was the head of content for a venture capital firm in San Francisco, where I focused on helping my firm’s general partners develop their investment theses and translate them into long-form written content to attract founders. Before that, I helped build the content marketing function at Samsara, an IOT tech startup that went public during my time there.

KM: I previously worked at Apple as a product designer and then started a medical device company in orthopedics. When Cristina came to me with this idea, I told her I could help on the weekends and nights.

Related: ‘My Whole Life Changed’: This 28-Year-Old’s Side Hustle Made $10,000 in the First Month. She Quit Her Job and Is About to Hit $10 Million.

When did you start your side hustle, and where did you find the inspiration for it?
CA: I started in March 2023 by sketching ideas down on a napkin, then onto paper. The inspiration for the product came from my direct experience as a lifelong skier. I always hated how ski poles were so unruly to manage, as well as how ugly they always were. For a sport where people spend thousands of dollars on their gear, I felt like there were no ski pole products on the market that people could actually get excited about. Plus, there was no go-to brand for poles. The market was fractured by legacy ski brands that made poles as a cheap side accessory since the bulk of their revenue came from skis/boots or apparel. I was inspired by Recess Pickleball’s approach to building a product and brand around pickleball and thought there needed to be something similar for ski poles: A go-to brand for beautifully designed ski poles.

^{Image Credit: Courtesy of Yardsale}

What were some of the first steps you took to get your side hustle off the ground?
CA: I relentlessly researched factories that I could have kick-off conversations with to see if anyone would even be interested in manufacturing this product for us. I had absolutely zero experience in doing this but took full advantage of Google and ended up finding the factory that makes the majority of the world’s ski poles in Asia.

I did a lot of consumer research, which primarily consisted of reaching out to all of the people I knew who skied, and I asked them 1) if they could name the brand of ski poles they had and 2) if they could name a single thing they liked about them. Ninety percent of people could not remember the name of the brand of their poles (even those who had just purchased them), and 95% of people couldn’t name something they liked about them. This was the first product validation that I got. (I made sure not to mention to them that I had this inkling of an idea or what I was working on so that I got untainted data.)

Related: ‘Hustling Since Middle School’: She Started a Side Hustle on Facebook Marketplace — Then a ‘Game-Changer’ Grew It to $25,000 a Month

I also called a ton of ski shops and asked what kinds of poles they sold and what the main reasons were for people purchasing new poles. I learned that most skiers went purely based on color because there were no differentiating factors among most poles. During these calls, I also learned that the sales associates at these stores rarely paid any attention to selling poles because there were virtually no selling points or differentiators among the poles they sold. This was also incredibly validating because I knew that if we could build a product with key differentiating factors, ski shops would be motivated to bring them in because they could sell more of them.

On the brand side, I did a lot of research into brands I liked and why and looked at the competitive landscape across the ski industry. I noticed that most legacy ski brands spoke solely to the aspirational skier, and everyone seemed to neglect recreational skiers. All of their marketing looked identical — white snowscapes, skiers jumping off cliffs, etc. and none of it felt relatable to a skier who cares more about the entire experience of skiing versus just the act of going downhill.

What went into the development of the ski pole?
KM: We started with a rough prototype in our garage, where we taped magnets onto some old poles just to see if the concept would work. Then, we went into a deep development cycle on all the features as well as the look and feel we’d want in our dream ski poles. This required a ton of design work and a bunch of 3D prints before kicking off tooling and testing with our manufacturing partners.

The hardest part of our design was not only hiding the magnets inside the handles and the baskets but also getting a manufacturer to completely rethink how a pole is assembled. For decades, ski poles have been shafts glued together with handles and baskets. For our completely modular system, which allows customers to mix and match, we needed to have each piece be created separately and seamlessly click together, regardless of what color or model you choose. No one had ever done this before, so we spent many days on the factory floor working through the complexity of the design and assembly.

^{Image Credit: Courtesy of Yardsale}

What were some of the strategies you used to generate awareness and drive sales for the product?
CA: We wanted to try something that no other legacy ski brands would do, so we invested in subway advertising in New York City for the months of November and December in 2023. It paid off for us! We got inbound from REI, SKI Magazine and other retailers who saw our ads in real life and wanted to learn more about our product and brand.

As a small company with a limited budget, we’ve also stayed far away from working with traditional influencers or professional skiers, which most other ski brands embrace. Because we focus on selling to recreational skiers, we recognize that most regular folks don’t keep up with the X Games or know every hot new professional skier. Instead, we focus on seeding our products to regular people who we think will love the product and brand and recommend it to their friends.

From the start, we also spent a lot of time and energy on earned media. Thanks to my background in the tech industry, I knew how to craft pitches and position our product to media. I cold-emailed hundreds of editors before we even had our product in hand. Then, we got a bite. The inbound from our first feature was astonishing, and we’ve been huge proponents of earned media and public relations ever since.

Related: This Juilliard Grad Musician Started a 6-Figure Side Hustle That Has Nothing to Do With Music — and Sold Out With Word of Mouth: ‘Couldn’t Ask for More’

How long did it take you to see consistent monthly revenue?
CA: Immediately. We found product-market fit almost instantly and were shocked that people immediately resonated with the product and the brand.

How much did the side hustle earn?
CA: We did $220,000 in our first three months in business.

When did Yardsale’s potential to be a full-time business become clear?
CA: Almost immediately. After we launched, we weren’t sure if people would care or resonate with our product/brand, but after our tenth day packing orders all night in Kelly’s basement, we knew we had to quit our full-time, stable jobs and dive full-time into Yardsale. I was going into my office every day at the time and packing orders all night, which I knew would be unsustainable in the long run. We could have decided to grow the brand slowly, but we saw so much positivity and momentum that we wanted to take advantage of it as quickly as possible. Taking that dive enabled us to dedicate more time and energy to Yardsale.

What does growth and revenue look like now?
CA: We’ve grown our DTC sales by 180% this season compared to last (our first season), and we’re expanding fast into wholesale, which we hope to turn into 50% of our revenue in the next two years. We have tons of inbound from other retailers.

^{Image Credit: Courtesy of Yardsale}

What do you enjoy most about running this business?
CA: Every day, we face completely new challenges (and successes), so nothing is ever boring. It’s the most energized I’ve ever felt (and the most stressed!), but it’s been life-changing for me to work on something that I started and own because I get to see the impacts of my work almost immediately.

It’s also so fun and rewarding to get to work in an industry where we get to see our product in action every time we go skiing. Just this weekend, we were in Deer Valley and saw Yardsale poles all over the place. We stopped a few folks to ask them how they liked them, and they all loved them and were so excited to tell us about their experience. We don’t get to ski too much anymore (too much work!), but when we do, those moments are so special.

I also love building this brand and business with one of my closest friends. We’ve gotten to travel all over the world together and go through so many firsts together in this business and I’m grateful to get to do it with someone like Kelly.

Related: After an Eye-Opening Trip to Home Depot, This Grandfather Started a Side Hustle on Amazon — and Did About $500,000 in Sales Last Year

KM: For me personally, it’s rare that you really get to experience true product-market fit. When you make a product where a customer goes, “Wow, why hadn’t anyone thought of that before?” it means you’ve really found something unique. Those aha moments are what we strive for in our design principles, and we’re so excited to take that thinking beyond poles in the years to come.

Additionally, it’s fun to make products that your friends and family can use. So many folks we know are users of our products, and we’re able to feel their excitement each and every day they use them. They’re our biggest fans and our best test dummies.

What’s your advice for others hoping to start successful side hustles or full-time businesses of their own?
CA: Make sure you’re making something unique and speaking to an audience that wants that product from you. Do all of the research you can before jumping in to make sure you’ll have product-market fit. It makes your life 100 times easier than trying to convince someone they need something that they don’t really want.

KM: Definitely keep your day job if you can until you find product-market fit! Once you have it, then you can scale accordingly. Additionally, especially for a hardware company, setting your sights on profitability ensures the long-term success of your business. We’ve tried to stay as lean as possible and use unique marketing tactics to help customers discover us and reduce our customer acquisition costs. Once we get to be financially viable, we’re excited to grow the company from there, but until then, we’re not sleeping much!

Philanthropy is more than just writing a check; it’s about creating a lasting impact by serving others. For entrepreneurs, integrating social good into the fabric of a business isn’t just noble — it’s a powerful way to build a sustainable company that resonates with employees, customers and communities alike.

During a conversation with Cheryl Sutterfield-Jones, CEO of Cars for Kids in Texas, I was struck by her insights on how leaders can make a difference beyond profit margins. Her stories offered valuable lessons on embedding purpose into business strategies, fostering trust and making an impact that transcends traditional business goals.

Related: 5 Entrepreneurial Reasons to Embrace Philanthropy

Founders who built purpose into their businesses

Purpose-driven entrepreneurship isn’t a new concept. Several founders have woven philanthropy into their companies from the start:

• Blake Mycoskie (TOMS): Mycoskie pioneered the one-for-one giving model, donating a pair of shoes for every pair sold.

• Patagonia’s Yvon Chouinard: Chouinard built Patagonia with environmental stewardship at its core, donating 1% of sales to environmental causes.

• Dan Price (Gravity Payments): Price made headlines by raising his employees’ minimum salary to $70,000 while cutting his own pay.

• Scott Harrison (charity: water): Harrison founded charity: water to provide clean water access worldwide, with a model of complete donation transparency.

These founders didn’t just focus on building successful companies — they made giving back a core part of their missions. Their stories show that doing good can be deeply integrated into business operations.

The power of servant leadership in business

Cheryl’s journey into servant leadership began early in her career. “I knew I wanted to help others when I was a young girl,” she shared. “While attending a conference, I was introduced to Robert Greenleaf’s philosophy of the Servant as a Leader. I realized my personal goals of listening, humility, coaching, empathy and empowering my teams aligned with servant leadership.”

This philosophy isn’t just relevant to nonprofits or large organizations; it holds significant value for entrepreneurs starting new ventures. Founders often wear multiple hats and face immense pressure to deliver results. By adopting a servant leadership mindset, they can create a culture of trust, collaboration and empowerment from day one.

Related: Why Being a Servant Leader Is Essential for Your Business’s Long-Term Growth

Personal stories of impact

One of the most powerful stories Cheryl shared was about leading through a crisis. During the aftermath of Hurricane Katrina, her teams were working around the clock to provide support. Recognizing the personal sacrifices her employees were making, she took the time to write personal thank-you letters to their families.

“One team member didn’t have a local family, so her letter was addressed to her cats with some cat treats,” Cheryl shared with a smile. “Although it has been 20 years, I still hear from team members and even some of their family members about how that gesture made a difference.”

Cars for Kids itself is a powerful example of how purpose can drive business success. The organization takes vehicle donations and uses the proceeds to fund education for at-risk youth at Texans Can Academies. This model of turning unused assets into life-changing opportunities for students shows how businesses can leverage philanthropy for long-term impact.

Balancing purpose with business goals

One challenge entrepreneurs face is balancing purpose with profitability. The misconception that doing good comes at the expense of business success is outdated. In reality, businesses that prioritize social good often see better employee retention, customer loyalty and brand reputation.

“Servant leadership strengthens employees’ dedication to the organization and their commitment to excellence,” Cheryl explained. “When the team is included in the decision-making process, empowered to do their jobs and their personal and professional growth is encouraged, you have a highly motivated team performing at peak level.”

For founders, this means that embedding purpose into your business model can create a competitive advantage. Customers are increasingly choosing brands that align with their values, and employees want to work for companies that make a positive impact. Purpose-driven companies aren’t just surviving — they’re thriving.

Practical tips for purpose-driven entrepreneurs

If you’re an entrepreneur looking to integrate social good into your business, consider the following steps:

• Identify your cause: Choose a cause that resonates with you and your brand. Whether it’s education, environmental sustainability or social equity, aligning your business with a purpose makes your mission more authentic.

• Build purpose into your business model: Think beyond donations. How can your product or service directly impact your cause? Consider models like one-for-one giving, sustainable sourcing or inclusive hiring practices.

• Empower your team: A purpose-driven mission starts with your employees. Foster a culture where team members feel empowered to contribute to your mission. Encourage them to share ideas on how the company can give back.

• Be transparent: Customers want to know where their money is going. Share your impact stories through blogs, newsletters or social media. Transparency builds trust and loyalty.

• Adapt and evolve: As your business grows, so will your opportunities to make an impact. Stay open to evolving your mission and expanding your social initiatives.

Personal reflection: Why purpose matters in entrepreneurship

In my own journey as a business leader, I’ve seen firsthand the power of integrating purpose into business. It’s not just about profitability; it’s about building something that lasts — something that makes a difference.

One of my most memorable experiences involved mentoring young entrepreneurs. Seeing their growth and success reinforced my belief that giving back is not just a moral obligation but a strategic advantage. It builds stronger communities, fosters loyalty and creates a sense of purpose that drives both personal and professional fulfillment.

Related: 4 Steps to Building a Purpose-Driven Business

A call to action for aspiring entrepreneurs

As we reflect on the lessons from Cheryl Sutterfield-Jones and other purpose-driven founders, it’s clear that leadership and philanthropy can go hand in hand. Whether you’re a new entrepreneur or a seasoned founder, consider how you can make a difference through your business.

Identify your purpose, embed it into your operations, and lead with empathy and transparency. Your business can be more than a source of profit — it can be a vehicle for positive change. The payoff? A thriving company, a motivated team and a legacy that lasts.

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