Richard

Three in 4 workers say AI reduced productivity and increased workloads. That’s according to a recent survey from the freelancing platform UpWork. But what the reporting on this is not sharing is why.

In my reporting and research, I have found that AI is fueling burnout, not reducing it. To turn the tide, workers and entrepreneurs need to take a different approach to understand the unspoken causes and solutions.

Related: How to Achieve Superhuman Levels of Focus with Nutritional Psychology

In the above video, I dive deep into the productivity paradox and provide four simple future-orientated solutions for leveraging AI to its full capacity, while navigating the challenges.

Download my free ‘AI Success Kit’ here (limited time only). And you’ll also get a free chapter from my new book, The Wolf Is At the Door – How to Survive and Thrive in an AI-Driven World.

Leah Solivan was an IBM engineer, working on business collaboration tools like Lotus Notes, when she found her million-dollar startup idea: an online marketplace connecting customers with “taskers” who could run errands or do household chores for them at a price.

The idea arose from Solivan running out of dog food one night and asking why she couldn’t connect with someone at that moment who could pick it up for her. It was 2008 and the first iPhone had come out a year prior. Solivan saw the potential in her iPhone for a location-based business.

^{Leah Solivan. Photo: Chance Yeh/WireImage}

In an interview with entrepreneur Jeff Berman last week, Solivan said when looking at the problem as an engineer, she saw these three technologies: social, location, and mobile.

“I thought, there’s a lot here,” she said.

Related: This Former Model Used Her Personal Savings to Start a Thrifty Side Hustle — Then Taylor Swift Became a Repeat Patron: ‘People Really Responded’

Solivan decided to leave her engineering job and cashed out the $27,000 she had earned in her IBM pension plan to get her idea off the ground. Ten years later, Ikea bought TaskRabbit for an undisclosed sum after the startup carved out a valuation of about $50 million from multiple fundraising rounds.

TaskRabbit was Ikea’s first acquisition in the U.S.

It wasn’t easy to get to an acquisition though. Right after quitting IBM, Solivan started coding. For six to eight weeks, she worked on her idea and built the first version of it, working from a coffee shop at times and asking random people at the shop for feedback on what she had created.

When the site was ready, Solivan put out an ad on Craigslist for taskers — the people who would run errands through the site. She gave each person who responded to the ad a 30-minute interview at the coffee shop and ended up with 30 taskers for the first launch in Boston.

The launch taught Solivan that she needed to “be the first tasker.” She ran errands too, all over Boston. The experience still prompts her to ask founders: “Can you be a part of the process?” Solivan says being part of the company’s day-to-day is key to learning what customers really want.

Related: The Largest Franchise Operator in the U.S. Owns 2,800 Locations — And He Just Added 83 Wendy’s to His Portfolio

Ikea, meanwhile, known for its must-put-together furniture, acquired TaskRabbit in 2017 after an in-store partnership in London proved lucrative. Customers could opt to have TaskRabbit deliver and assemble Ikea furniture for them instead of doing it themselves, which increased the average order value for Ikea and brought in new customers for TaskRabbit.

Ikea decided then that they wanted to own TaskRabbit.

“It was bittersweet,” Solivan said. “It had been 10 years… It feels so good to me to know that even without me, it lives on.”

For entrepreneurs with jobs at Meta, Microsoft, or other companies who come to her to ask if they should quit their jobs to work on their ideas, Solivan says that it’s difficult to be all-in on a startup with a day job, but she knows that not everyone has the privilege to be able to pursue their idea without a safety net.

“My advice is, if you really have conviction around something, you are going to find a way to go for it,” Solivan said.

Related: She Batched a Beloved Product at Home, Inspired By a Black-Owned Business From the 1960s. Then It Became a Multimillion-Dollar Brand: ‘We’d Never Intended This.’

British tech magnate Mike Lynch, 59, is among six people missing after a freak storm struck their superyacht, the Bayesian, off the coast of Sicily, per Reuters.

The BBC is reporting that Lynch’s 18-year-old daughter is also missing. Lynch’s wife and 14 other people survived.

The luxury yacht was carrying 22 passengers. Italian authorities confirmed that the incident unfolded in the early hours of Monday when a waterspout hit the area where the British-flagged vessel, Bayesian, had been anchored close to Palermo.

^{A coast guard vessel and a private sailboat assist the search for missing passengers after a yacht capsized on August 19, 2024, off the coast of Palermo, Italy. Several people, including four Britons, two Americans and a Canadian national, are missing. Italy’s coastguard and firefighters brought 15 people to safety with rescue and recovery efforts ongoing. (Photo by Vincenzo Pepe/Getty Images)}

The 56-meter Bayesian is approximately $215,000 per week to rent.

Rescue efforts are ongoing.

Lynch and his wife’s combined wealth is reportedly around $649 million.

This is a developing story.

Entrepreneurship is the greatest self-discovery adventure you could ever embark on. But even when you know so many things and are an expert on a subject, there are money insights only someone who has been there can tell you about, and financial growth’s key aspects are one of them.

When I started my financial education platform to teach women entrepreneurs about money, few entrepreneurs looked like me, and that limited my opportunity to examine and follow more than they did on social media. As a finance professional, I thought I could figure it out as I “had everything” I needed to grow financially without any hiccups on the way; after all, I went to university and have been involved with the finance world since high school, but I couldn’t be further from reality.

When you are a Black, brown or female entrepreneur of color, your financial journey is directly correlated to different factors like your identity, your and your family’s beliefs around entrepreneurship and money, and the way that you fit in all of those subconscious habits with money, including your relationship with money. But that is something no one is talking about, and it costs us years of trial and error that hinder our ability to grow a business and our confidence and create a strong basis as an entrepreneur.

Here are the five key insights I wish fellow entrepreneurs had shared about navigating the financial landscape as a Black founder.

Related: She Launched Her Black-Owned Beauty Brand with $1,500 in Her Pockets — Now Her Products Are on Sephora’s Shelves.

My relationship with money impacts financial growth

How we relate to money — the meanings, beliefs, interpretations and ways of doing that create what we call a relationship with money — are essential in your journey to grow financially as a Black female entrepreneur. Early in my entrepreneurial journey, I didn’t fully grasp how my beliefs, perspective, and financial identity would influence my business decisions that were directly connected to money, like pricing, or those that indirectly had to do with money, such as showing up to promote my programs.

Take a moment to analyze: Are you one of those who go on automatic pilot, executing every strategy in the market, but have a hard time talking about money, looking for a proper way of pricing, seeing your bank account and doing money planning? Then, it’s time to look at your relationship with money.

Family’s beliefs around money and entrepreneurship need to be filtered

Your relationship with money, how you think about opportunities in entrepreneurship, how you manage money and many other skills you need when growing a business have been in the making since you were too little to remember. From the way you feel about money to the way you face risk, setbacks and other mental and emotional rollercoasters with money, you’ll need to become your best advocate when it comes to filtering the opinions or advice that comes from your close social circle that isn’t in alignment or doesn’t support where you want to go.

The best way to filter those views out is to assess, according to your vision and financial goal, what advice, beliefs, behaviors and opinions are useful to listen to (and will most likely support you in advancing toward your goal). If they are not applicable, then they will not have space for you to consider them.

For instance, what use can you find in “You have to give us family prices?” I haven’t seen any use for this opinion in my career. Instead, it is quite the opposite. It brings a lot of guilt and shame. Thus, it has been filtered out since year one of business.

Related: 5 Trailblazing Black Women Entrepreneurs Share How They’re Breaking Barriers — And How You Can Too

Having a community that supports is key

As an entrepreneur, you’re doing what most of the people we know are not, and to grow financially, you need to start having the proper discussions with the right people.

The matters that preoccupy your mind and the insights you may need to find a better, more cost-effective system or to get out of your head are found in a community.

Surround yourself with like-minded entrepreneurs and mentors who understand your challenges and can offer guidance, but most importantly, as a Black entrepreneur, a community that understands your unique challenges that go across putting yourself together and feeling the reality of paying the bills simultaneously. Join networking groups, listen to podcasts and join their community, attend industry events and participate in online forums that reflect what you want to become financially and where you want to take your business.

Financial planning is non-negotiable for financial growth

One thing I knew from school that this path only reconfirmed was that financial planning is not negotiable from the get-go if you want to grow. With your desire and motivation to grow your business, much of that emotional side of money gets triggered. It could be to buy that next course, subscribe to a platform, buy the next piece of equipment or spend on advertising when it wasn’t the right timing; for all of these cases and the ones, your money planning will be your best ally. It is essential to have a base where you can come to and ground yourself when those urges to make the extra purchase or the extra investment mean faster financial growth.

Don’t be overcomplicated. Just shift the focus from “I just need to make money” to assigning and tracking your numbers.

Related: ‘I’m Black. I’m a Woman. Let’s Talk About Raising Venture Capital.’

Your management goals are as important as your revenue goals

One of the habits I work the most on shifting with my community is to change the focus from a revenue-oriented way of thinking to amplify the spectrum and consider how you manage what you earn. As an entrepreneur, you get a lot of marketing, information and sometimes standards stressing revenue as the way to measure growth; however, learning how to manage that revenue that is not pocket money, a one-time off lucky shot or an “I’ll never have this amount of money again” becomes your financial key.

Balance your drive for revenue with a solid plan for managing and growing your business sustainably.

It’s been said that when you make a sale, people aren’t necessarily buying the product or service you’re offering — they’re buying you. The reason this statement tracks is that you have to be an effective communicator when it comes to your sales pitch and your personal style.

A clear-cut value proposition must demonstrate what’s in it for the consumer you’re targeting. You also have to understand the persona of your target audience and what motivates them. When you’re making your appeal, you have to establish both credibility and trust, which is why your brand’s unique value proposition and key differentiators are so crucial to define.

In today’s hustle and bustle world, where attention spans continue to shrink, it’s more important than ever to be concise and focused. And you can never walk away from a sales pitch without some form of a call to action. Whether it’s a product or a service, it’s important to lay out the next steps of your sales process.

Keep reading for advice and insights that explain why some efforts fail to resonate, helpful ideas for retooling your strategy, and six specific, impactful ways to supercharge your sales pitch and close more deals.

Related: How to Master Your Sales Success — Why Every Answer and Rejection Matters

Attributes of a poor sales pitch

Practice makes perfect, but revitalizing your sales pitch may take considerable time. However, you should always begin with an audit and review of your current efforts.

If you happen to note any of the following shortcomings in your sales materials, improvement of some kind is not only necessary, it’s required:

• No Personalization – when your sales pitch is overly generic, it’s likely not addressing the specific needs or interests of your target market, leaving them uninspired
• Lack of Empathy – failing to connect with your consumer’s specific pain points properly makes your effort seem disconnected. Or even worse, out-of-touch
• Inauthentic — If you default to ChatGPT to develop your sales pitch, you’ll end up with an overly scripted, generic and insincere message.
• Lack of Key Differentiators – sure, you may have a stellar product or service to offer, but if you’re not highlighting exactly what sets you apart from the competition, you’re missing the mark. If you’ve built a better mousetrap, explain the key differentiators.
• Lack of Engagement – Another key mistake is getting so caught up in your messaging and attributes that you fail to engage with your target audience. Lack of engagement almost always results in a lack of investment.

Related: Your Differentiators Suck. Follow These 5 Steps to Stand Out From Your Competition.

How to retool your sales pitch

If you recognize any of the aforementioned problems in your current sales materials and efforts, it’s time to retool them. Here are some specific ways to go about it:

• Seek Unbiased Feedback – send your sales pitch to a close friend or colleague and ask them to give you a 100% honest assessment. Pay close attention to their feedback
• Marketplace Review: It may be time to examine market conditions and the current level of demand among your target audience more closely. If things seem off, update your positioning.
• Competitive Analysis – if you’re not paying attention to the sales efforts of your direct competitors, begin some opposition research right away
• Upgrade Your Design Elements – maybe your message is getting lost because you’re not paying enough attention to the visual aspect of your sales pitch. Consider compelling images and videos.
• Diversify Your Pitches – no rule says you can only use one version of your pitch at a time. Consider diversifying your pitch and using multiple versions. Then, track and assess which messages are breaking through

Related: Why Interactive Content Will Boost Your Customer Loyalty

6 impactful ways to supercharge your sales pitch

If you’ve done your homework and put in the required effort, it’s now time to revamp and relaunch your revised sales pitch. But before you do, review this helpful checklist to get started on the right foot:

1. Lead With a Strong Hook – within your first couple of sentences, you need to grab their attention. Tease your target audience with an intriguing question, statistic, or data point.
2. Know Your Audience – take the time to review the personas of your target audience and determine what motivates them to take action.
3. Tell a Story – at least one version of your new sales pitch materials should feature a relatable story, a case study, or a testimonial that boosts the value of what you’re selling.
4. Focus on Benefits, Not Features – all of your bells and whistles make good copy, but it’s important to emphasize the benefits of your product or service. How will it improve your customer’s lives?
5. Build credibility – don’t just spew facts, data and statistics. Support them, and you’ll build credibility.
6. Ask for the Order – make your specific call to action and direct the recipient to the next step in the sales process. Don’t just leave them hanging.

As any good salesperson will tell you, nothing compares to the thrill of closing a deal. It’s a feeling that doesn’t subside over time, especially if you truly care about your performance and the goal of meeting your sales KPIs. Revamping your sales materials shouldn’t feel like a chore but a mission. If you follow this helpful advice, don’t be surprised when it results in more engagement, more discussion, and ultimately – more sales.

Related: 5 Tips to Master the Art of Sales and Get Your Business Ahead

Maintaining a secure and reliable internet connection is essential for anyone with a digital presence. This becomes even more critical if you travel for work and rely on public Wi-Fi, which can be a breeding ground for unsavory characters. Unfortunately, many entrepreneurs travel often and find themselves at the mercy of this type of connection.

While there are tips you can follow to use public networks safely, a tool like this Deeper Connect Air Portable VPN Travel Router ensures you’re staying as safe as possible online, no matter where you are. It’s on sale for just $159 (reg. $219) with the code CONNECT, plus it ships for free.

Privacy and security.

Using public Wi-Fi can expose your data to various security risks. This portable VPN router provides military-grade encryption, ensuring your internet activity remains private and secure, no matter where your business takes you. It’s also decentralized, which means none of your data is stored.

This device also provides ad-blocking and parental controls, giving you complete control over your online experience. With the Deeper Connect Air, you can browse, work, and communicate with the confidence that your sensitive business data is protected. It’s also decentralized, which means none of your data is stored.

Global access, speed, and portability.

One of the more valuable features of the Deeper Connect Air is its ability to bypass geo-restrictions. This means you can access streaming services, websites, and content worldwide, regardless of location.

The Deeper Connect Air has 80,000+ nodes around the world and delivers a mighty 300 Mbps connection, allowing you to stream, browse, and work without frustrating slowdowns.
In addition, its compact and lightweight design makes it easy to pack and carry, so you can take it with you wherever your work takes you. Keep it right in your bag with your laptop so you’re never without it.

The ultimate travel tool.

Whether flying off to a different country or working in a cafe down the road, this travel VPN router is a fantastic way to ensure you’re connected and secure.

Don’t miss this Deeper Connect Air Portable VPN Travel Router for just $159 (reg. $219) with the code CONNECT through September 3, plus free shipping.

StackSocial prices subject to change.

Artificial intelligence (AI) is no longer a dream of the future. Like it or not, AI is reshaping industries and will continue to do so. A whopping 97% of participating business owners believe using it will help their business, a Forbes survey says.

If you want to stay relevant and evolve as a company, you’ll need to start embracing this technology and adding it into the fold of your business.

For new AI users or those who want to further their knowledge, this 2024 Complete ChatGPT & Gemini AI Advanced E-Degree should be at the top of your list. It’s on sale for just $24.97 (reg. $790) and features 65 lectures on various topics and AI tools that you can access anytime and anywhere.

This e-degree program delves into the fundamentals of generative AI, covering everything from the basic concepts to the immense potential these tools hold for businesses. You’ll gain insights into how AI can be harnessed to transform your marketing strategies, enhance your customer service, and streamline day-to-day operations.

You’ll get comprehensive training across multiple AI tools, including ChatGPT, Gemini AI, GPT 3.5, GPT 4, Bard, and DALL-E 2. This multi-tool proficiency ensures you’re equipped to use the most advanced AI platforms available, which will help you create compelling text, images, videos, and audio content. Whether you’re looking to boost your marketing efforts or improve your website’s content, this course has you covered.

One key benefit of integrating AI into your business is the ability to automate repetitive tasks, freeing up time for other tasks. This bundle shows you how to use AI to enhance productivity, automate customer interactions, and perform data analysis with unprecedented efficiency. By learning to apply AI in practical ways, you can significantly increase your operational effectiveness.

Gain lifetime access to invaluable skills and knowledge that will keep you at the forefront of AI technology with this learning bundle.

The 2024 Complete ChatGPT & Gemini AI Advanced E-Degree is on sale for $24.97 (reg. $790) through September 3.

StackSocial prices subject to change.

“Spatial” is certainly one of the most popular words this year. In my opinion, Collins Dictionary is likely to include it at least on its shortlist for 2024. Spatial computing is an innovative technology that is changing the way we interact with digital content. And I want to emphasize that it’s not just a new technology, but a new philosophy about how we interact with the digital world.

In this article, I want to discuss how spatial content will impact businesses around the world and how its consumption is changing the global business agenda. We used to think in terms of flattened pictures and videos that were necessarily tied to the devices that broadcast them. Now we need a new type of thinking — spatial. The surface for transmitting information is literally the air around us.

Related: How Can Spatial Computing Make Industrial Development More Intuitive and Seamless?

The future of spatial technologies

My article aims to provide entrepreneurs with basic knowledge and understanding of the potential of immersive technologies and generative AI in business. Specifically, I would like to focus on augmented reality technology, as this is the type of immersive technology that is most available right now. In fact, any smartphone can work with web AR technology now (to interact with AR content, you need internet access and any web browser on your smartphone — you don’t need to install any applications).

Imagine that in three to five years, users will replace cell phones with XR glasses. There are already many factors for this change in consumption patterns. Apple Vision Pro is a flagship in creating a fashion for consuming immersive technology in everyday life.

In addition, more than 50 companies around the world are working on their own versions of XR glasses. All the tech giants are using augmented reality as part of their global strategy. The AR software market is projected to surpass $140 billion in 2025, which will show a 12-fold growth. Projected consumer spending on physical goods with AR will reach $255 billion in three years, and it’s already billions in sales today.

In 2020, 83.7 million people used AR at least once per month in the U.S. (and this is data from before Apple Vision Pro was released). This trend is coupled with the evolutionary development of the impression economy, where customer experience is increasingly becoming a deciding factor in purchase decisions. There is no doubt that AR is becoming mainstream, just like generative AI, but with less PR backing for now.

The transformative impact of spatial computing

There is no doubt that the launch of Apple Vision Pro has had an impact on the market. But beyond the devices themselves, it’s important to understand what software we need and, in my opinion, even more importantly, what content will work to achieve business goals.

The development of generative AI to create visuals, video and spatial content through augmented reality technology, has already helped make a significant leap in the creation of such content. In the rapidly changing world of artificial intelligence, entrepreneurs are actively integrating generative AI technologies into their business processes. With the growing interest in these technologies, the a16z foundation has estimated a threefold increase in budgets for implementing generative AI in businesses in 2024. These costs are moving from innovation budgets to ongoing software budgets.

Now, we will explore the key concepts, benefits and challenges businesses may face in implementing these technologies, as well as examples of how to effectively utilize them to drive growth and innovation across industries.

Related: All About Apple’s Spatial Computing

Steps to integrating AR and generative AI into your business

• Understanding market needs: Knowing your target audience and how spatial computing can meet their needs or solve existing problems is the first step to successful implementation.

• Spatial thinking: Now is the time when the bold application of new technologies can set trends for your business for years to come. The market is completely fresh — there are no established rules and traditions. Boldly use your imagination and out-of-the-box thinking, and change your traditional content to spatial content.

• Team training: It’s important that your team is aware of the possibilities of AR and AI. Investing in training and skills development is key to innovation.

• Pilot projects: Start small by launching pilot projects to evaluate the impact of AR on your business and get feedback from users.

• Utilize off-the-shelf platforms: No-code platforms offer tools to create AR content without the need for deep programming knowledge, making the technology accessible to a wide range of entrepreneurs.

• Adapt and iterate: The AR market is rapidly evolving, so it’s important to constantly adapt and improve your content based on user feedback and changes in technology.

Business benefits

• Improved customer engagement: AR offers unique opportunities to create an engaged and interactive user experience.

• Increase sales: Interactive AR product demonstrations can increase conversion and average check.

• Differentiation: Innovative use of AR and AI can set your brand apart from competitors.

• Process optimization: AR can simplify and speed up various business processes such as staff training or product demonstrations.

Overcoming challenges

• Talent acquisition: Implementing and scaling generative AI and immersive technologies requires the right talent, which many companies currently lack.

• User adaptation: Businesses must help users get used to a new type of interaction with their brand.

• Wide thinking: Without innovative thinking, projects risk becoming one-size-fits-all.

• Lack of long-term experience: Lack of accumulated experience can be a barrier.

• Being a pioneer: Experimentation and pioneering can be difficult for many corporations, but it is essential for innovation.

Related: Are You Hesitant to Use AR Technology? Here’s Why You Need to Jump on It Now.

Spatial thinking and the consumption of spatial content are changing business agendas around the world. Generative AI and AR are powerful tools for business transformation, opening new horizons for innovation and growth. By understanding the basics of their application and the relevance of these technologies, even entrepreneurs who have not previously encountered them can benefit significantly.

Set your sails today to be at the right point in your business at the right time.

Ahead of the 2024 U.S. Presidential Election, the future of cryptocurrency and its regulation has become a topic of discussion among voters.

On Thursday, a regulatory financial filing by Republican nominee Donald Trump showed that the former President owns over $1 million in crypto, showing Silicon Valley that the presidential candidate may have favorable crypto policies derived from personal interest.

Related: Mark Cuban Says He’s Received ‘Multiple Questions’ From Kamala Harris About Crypto

The financial filing stated that Trump owns a cryptocurrency wallet and a “virtual Ethereum key” which, depending on the current markets, can range in value from $1 million to $5 million.

Trump’s current stance on crypto is a “hands-off” approach allowing the market to self-regulate.

The former President now also accepts cryptocurrency, such as Bitcoin, as funding for his campaign, signaling a strong pivot from his prior stance that crypto was a “scam” and “disaster waiting to happen.”

In an interview with Bloomberg, Trump championed Bitcoin mining in the U.S. to curb China’s growing influence over the market.

“If we don’t do it, China is going to figure it out, and China’s going to have it—or somebody else,” Trump said.

Last month, Mark Cuban told Decrypt in an interview that he had been fielding calls from Democratic nominee Kamala Harris’ team about cryptocurrency and advice on the market.

Related: Musk, Trump Hit With Federal Labor Charges Over Livestream

Cuban then accused Silicon Valley leaders that support Trump of doing so as a “Bitcoin play.”

“What will drive the price of BTC is lower tax rates and tariffs, which if history is any guide (and it’s not always ), will be inflationary,” Cuban explained on X. “Combine that with global uncertainty as to the geopolitical role of the USA, and the impact on the US Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration.”

For entrepreneurs and business owners, travel is often a necessary part of growing and expanding your enterprise. Whether you’re meeting with clients, attending conferences, or scouting new markets, frequent travel can quickly become one of your largest expenses.

That’s where Matt’s Flights Premium Plan could come in handy. A lifetime subscription is on sale for just $79.97 (reg. $1,800), which gives you access to exclusive flight deals, saving you up to 90% on both domestic and international flights. Just imagine the possibilities when you can travel more often for less, all while keeping your business budget in check.

You can think of Matt as your go-to source for the best flight deals. He constantly scours the skies, finding those rare airline errors and deeply discounted fares that others might miss. The moment he uncovers a deal too good to pass up, it’s sent directly to your inbox. It’s like having an expert in low-cost air travel working just for you, making sure you never overpay for a flight again.

Because travel planning can be tricky, especially when juggling multiple business responsibilities, Matt offers round-the-clock support to help you navigate travel uncertainties. Whether you need advice on booking, tips for finding the best routes, or help with a specific query, Matt’s one-on-one support ensures you’re never alone in your travel planning.

One of the most helpful features of this flight alert service is the custom search requests. Got a specific destination in mind? Need to fly on certain dates? With the Premium Plan, you can submit as many custom search requests as you like, and Matt will find the best airfare that fits your travel needs.

If you want to make the most of your travel budget, this is a good way to do it.

Get a lifetime subscription to Matt’s Flights Premium Plan for just $79.97 (reg. $1,800) through September 3.

StackSocial prices subject to change.