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As the co-founder and former CEO of Yum! Brands, one of the world’s largest restaurant companies with a portfolio including franchises like KFC and Pizza Hut, David Novak drove tangible results.

In the 17 years he was CEO, from 1999 to 2016, Novak helped scale the company to eight times its original size, from a market capitalization of $4 billion to $32 billion. However, Novak credits the numbers to a more qualitative than quantitative aspect of leadership — creating the right work culture.

In a conversation with Masters of Scale host Jeff Berman that aired earlier this month, Novak explained how he steered Yum! Brands from the beginning.

“I made my number one priority to really create a powerful culture where everyone counts,” Novak said. “That became job number one for me as a CEO, because if I can create that right work environment, people will innovate and people will go further.”

Novak explained that early on, he tried to learn from companies that were winning or consistently delivered good results. He went out and visited companies including Walmart, Home Depot, and General Electric.

“We met with them,” Novak said. “Then we came back and we codified what’s really driving the success of these companies that allow them to get to great results year after year.”

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Novak, who oversaw 1.5 million employees globally, began emphasizing recognition and encoding it into Yum!’s culture. In previous interviews, he talked about how he would use recognition to motivate employees. In one case, at KFC, Novak gave away rubber chickens and $100 as an award for a job well done.

Today, Yum!’s culture remains one of recognition and collaboration, per its public-facing culture page.

In 1948, diamond company De Beers launched a marketing campaign with the slogan “A diamond is forever.” Fifty years later, the company created another campaign justifying the price of diamonds with the slogan, “Isn’t two months’ salary a small price to pay for something that lasts forever?”

Now, De Beers is aggressively cutting prices to bring sales up, and you can buy a diamond-making device for $200,000 on Alibaba.

It’s a sign that diamond production is democratizing, reports Ars Technica.

In the past five years, lab-grown gem sales have burgeoned and made the price of mined stones less appealing, according to diamond expert Paul Zimnisky. The lab-grown diamond market was $13 billion last year and is expected to reach about $22 billion by 2031.

Ankur Daga, CEO of the fine jewelry company Angara, estimated that half of all engagement rings sold this year will have lab-grown stones, a significant jump from 2% in 2018.

“The diamond industry is in trouble,” Daga told CNBC in June.

As of press time, natural 1-carat diamonds cost around $4,000 while lab-grown diamonds of the same weight go for around $620.

How a lab-grown diamond machine works

The 44-ton device uses high-pressure high temperature (HPHT) technology to take a diamond seed, or a tiny diamond particle that starts the whole process, and transform it into a lab-grown diamond. Alibaba focuses more on business-to-business products, so the machine they have for sale would likely be bought and used by a company with specialized knowledge.

Related: She Started a Business With $2,000 of Personal Savings — Then Grew It to More Than $100 Million Revenue

Lab-grown diamonds are up to 90% less expensive than natural diamonds and look exactly the same to the human eye. They can only be told apart with special equipment in a professional gemological lab.

They also don’t carry the same environmental and social concerns as naturally found diamonds, which have to be mined in unsafe conditions.

Even with this kind of growth, and machines like the one sold through Alibaba, Zimnisky says that naturally-found diamonds will still have a place in the future.

“Human desire for rare and valuable objects runs pretty deep within us,” Zimnisky told NPR. “I don’t think that’s going to, all of a sudden, change.”

Related: This Family-Owned Manhattan Jewelry Shop Struggled to Rebuild After 9/11. Today, 2 Sisters Who Run the 46-Year-Old Business Reveal What It Takes to Persevere.

I have spent 37 years as a founder, CEO, investor, advisor, board member and leader, and I’ve seen my share of soaring successes and crushing failures. My entrepreneurial journey has been punctuated by significant challenges, including the Great Recession, where I lost everything. These experiences have taught me the importance of antifragile optimism, a mindset that allows us to survive adversity and thrive in it.

Strategic foresight and authentic leadership are essential, but they must be complemented by a willingness to engage with the darker, less understood parts of ourselves — what Carl Jung famously termed the “shadow.”

Related: How to Empower Yourself to Unlock Your Full Potential

The shadow concept

Carl Jung introduced the concept of the “shadow,” which represents the unconscious and often repressed aspects of our personality — those traits, behaviors and emotions that we push into the background because they don’t align with our self-image. Jung described the shadow as an unconscious snag, an unseen force that can hold us back or weigh us down.

As Jung once said, “A man who is possessed by his shadow is always standing in his own light and falling into his own traps.”

These hidden parts of ourselves can subtly influence our decision-making, leadership style and overall business success. Left unchecked, the shadow can be a formidable barrier to growth, but when confronted and integrated, it can become a powerful ally.

Personal discovery of the shadow

My journey into understanding the shadow began during a recent leadership course led by John Wineland. The concept of shadow work was new to me, but I realized that my shadow had been unconsciously influencing many of my decisions, limiting my potential as a leader and entrepreneur.

This was a revelation — recognizing that the very fears and insecurities I had long buried were impacting my ability to lead effectively. One particular manifestation of this shadow was the fear of financial instability — a fear that reared its head during the current IPO slowdown over the past two years.

For many entrepreneurs, financial concerns are a constant companion. Studies from Harvard Business School indicate that 25% of entrepreneurs face significant financial loss multiple times throughout their careers. This fear can become a self-fulfilling prophecy if it’s not addressed head-on, affecting our decision-making processes in ways we might not even be aware of.

The entrepreneur’s shadow: A double-edged sword

Entrepreneurs are often driven by a mix of confidence, ambition and vision. However, these strengths can also have a dark side — a shadow that, if not acknowledged, can lead to significant challenges.

Overconfidence, for example, can be both a strength and a weakness. Confidence in one’s ideas and abilities is crucial for any entrepreneur; it drives us to take risks and push boundaries. However, overconfidence can lead to underestimating risks and overextending resources, often resulting in strategic missteps that could have been avoided with a more measured approach.

Similarly, fear of failure can lead to caution and careful planning, which are essential in business. However, an overwhelming fear of failure can prevent us from taking necessary risks or exploring new opportunities. According to the Global Entrepreneurship Monitor (GEM), serial entrepreneurs often face multiple failures before they achieve lasting success, underscoring the importance of resilience and risk-taking.

Another common shadow is poor work-life balance. A strong work ethic and dedication are vital to building a successful business, yet neglecting personal well-being and relationships can lead to burnout and diminished effectiveness, both personally and professionally.

Related: Why Self-Reflection and Self-Awareness Are Vital Skills for Any Entrepreneur

Harnessing the shadow for business growth

The shadow is not something to be feared or ignored but rather a part of ourselves that can be harnessed for growth. The first step is becoming aware of our shadow, which requires honest self-reflection and asking tough questions: “What am I avoiding? What am I overcompensating for?”

This process requires vulnerability, something many leaders shy away from, but which is crucial for personal growth. Seeking feedback from trusted colleagues, mentors or coaches is also essential. They can offer insights into our blind spots — those aspects of ourselves we might not see clearly but that others do.

Once we identify our shadow traits, we can begin to work with them. This might involve setting boundaries, taking calculated risks or delegating tasks more effectively. Shadow integration is an ongoing process, requiring patience and consistent effort.

By bringing the shadow into the light, we can use it as a source of innovation and new ideas. Embracing vulnerability, for example, can help build trust and authenticity within a team. Understanding and managing overconfidence can lead to more measured decision-making, balancing ambition with a realistic assessment of risks.

Recognizing the importance of personal well-being allows us to create a more sustainable approach to entrepreneurship — one that includes personal happiness and health as integral parts of our success.

Antifragile mindset and recovery

An antifragile mindset may be the most critical trait in successful entrepreneurship.

The U.S. Small Business Administration (SBA) reports that many entrepreneurs start new ventures even after facing significant failures. This cycle of failure and recovery is a common thread in most entrepreneurs’ lives.

Financial setbacks are not only common; they often happen multiple times in an entrepreneur’s career. The key is to learn from these failures, adapt to new circumstances and continue pushing forward. My journey after the Great Recession is a testament to this process — by doing the work on myself and integrating my shadow, I’ve emerged healthier and more effective as a CEO. This transformation has enhanced not only my performance in business but also in all areas of my life.

Related: Embracing Antifragility — How to Leverage Uncertainty, Volatility and Stress for Unprecedented Growth and Innovation

The shadow is a powerful framework for achieving both business success and personal fulfillment. Confronting and integrating our shadows unlocks hidden strengths and deepens our leadership capabilities.

As an integrated CEO, I believe that bringing the best version of ourselves to our business and stakeholders is not just beneficial — it’s essential. Identifying and facing my shadows has deepened me as a man and as a leader.

By treating the shadow as an ally, I’ve been able to utilize it in ways that enhance my effectiveness as both a CEO and an entrepreneur. I encourage all entrepreneurs to embrace their shadows as allies in their pursuit of greatness. The shadow plays a crucial role in both personal and professional development, contributing to a more resilient, innovative and ultimately successful business approach.

McDonald’s is extending its $5 Meal Deal promotion, launched last summer, to cater to budget-conscious customers. Originally billed as a limited-time response to provide relief to inflation-strapped consumers, the promotion has gained traction with consumers demanding value from fast-food brands. The $5 Meal Deal includes a McDouble or McChicken, small fries, four-piece Chicken McNuggets and a small drink.

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

The move aligns with a broader trend in the industry, where major fast-food chains have battled for customers with affordable meal deals since McDonald’s launched its promotion in June. Competitors, including Burger King, Taco Bell and Wendy’s, have also introduced value-based promotions to retain customer loyalty amid rising food costs, inflation concerns — and even customer outcry.

In an open letter to customers last May, Joe Erlinger, president of McDonald’s USA, addressed widespread reports — primarily spread via social media — that menu prices had increased more than 100% in the past five years. The letter also rebuked claims that the chain raised prices above standard inflationary rates.

Related: Don’t Have Time to Start a Business? This Doctor, Lawyer and Now Part-Time Franchisee Would Disagree.

“Inflationary pressures have affected all sectors of the economy, including ours,” Erlinger wrote. “That’s why prices for many of our menu items have risen less than the rate of inflation — and remain well within the range of other quick service restaurants.”

While these deals will bring some form of relief to inflation-strapped consumers, FinanceBuzz, a financial news and information website, recently analyzed value meals at major fast-food restaurants to determine how much consumers can save by buying value meals versus purchasing the items individually, finding that McDonald’s was among the top in value.

Related: The Critical First 100 Days of Onboarding — What You’re Likely Overlooking That Could Make or Break Your New Hire

With inflation still a stubborn reality for many consumers, McDonald’s aims to continue attracting price-sensitive customers while keeping its menu appealing and accessible. The $5 Meal Deal promotional extension could further boost traffic to its locations and help drive sales during an economically uncertain time.

Related: Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New ‘Hall of Fame’

Read More: CNBC

Reuters reported Friday that genetics testing company 23andMe has agreed to pay a $30 million settlement after a hack exposed 6.9 million customers’ personal information to the dark web. The company will also pay for three years of security monitoring for affected customers.

The class action lawsuit alleged that 23andMe failed to alert customers with Ashkenazi Jewish and Chinese ancestry that their personal data was posted for sale and that they may have been specially targeted in the April 2023 breach.

Related: 23andMe Hackers Selling Stolen User Data, Including DNA Profiles of ‘Celebrities,’ on Dark Web

23andMe said the settlement was “fair, adequate, and reasonable” in a court filing, per Reuters.

In a Dec. 2023 blog post addressing the hack, the company said the attack started in April 2023 and lasted about five months. At the time, 23andMe had around 14.1 million customers in its system. The company said the hack affected at least half of the database.

Who is eligible to claim money?

According to court documents, affected users can claim anywhere from $100 up to $10,000 for the most “extraordinary” cases. If the settlement gets final approval, instructions will be provided on how to file for reimbursement.

Customers in Alaska, California, Illinois, and Oregon are subject to “genetic privacy laws with statutory damages provisions” and can only claim $100, per PCMag.

Amazon CEO Andy Jassy made a case — and a mandate — for in-office work on Monday.

In a publicly available message, Jassy said that Amazon’s 1.5 million-plus employees must return to the office five days per week starting January 2. Amazon is also bringing back desk assignments to the offices that had that structure pre-pandemic.

Jassy positioned the move as a better way to work and a return to life before Covid.

“We’ve observed that it’s easier for our teammates to learn, model, practice, and strengthen our culture; collaborating, brainstorming, and inventing are simpler and more effective; teaching and learning from one another are more seamless; and, teams tend to be better connected to one another,” Jassy stated.

^{Amazon CEO Andy Jassy. Photo by Michael M. Santiago/Getty Images}

Jassy also said that situations that require remote work like sickness, an emergency, or being on the road are still acceptable.

However, these examples of remote work are the exception to the new rule, not the norm.

Related: Here’s How Much Money U.S. Employees Will Sacrifice to Avoid Returning to the Office, According to a New Study

Amazon employees have been back in the office at least three days per week as of February 2023. A July report from Bamboo HR showed that one in four executives secretly hoped employees would quit over stricter return-to-office policies.

“Strengthening our culture remains a top priority for the s-team [senior leadership team] and me. And, I think about it all the time,” he wrote. “We want to operate like the world’s largest startup.”

Under the new policy, working from home two days per week is no more. The office culture is returning to how it was before the pandemic, to strengthen work culture and drive better results, Jassy explained.

Related: Dell Reportedly Told Remote Employees to Come Back to the Office or Forgo the Chance to Be Promoted

Amazon joins companies like Salesforce and Walmart that have implemented stricter return-to-work policies.

As prices rise and membership fees go up at other clubs, smart entrepreneurs know where to find the best value—Sam’s Club. Right now, you can secure a one-year membership with auto-renew for just $15 (regularly $50) and enjoy exclusive perks, savings, and discounts all year when you purchase through September 27.

Whether you’re stocking up on office supplies, keeping your home business running smoothly, or looking to slash your grocery bill, Sam’s Club members can access bulk buying power and a wide variety of products at unbeatable prices. From groceries to electronics, household essentials to office equipment, this membership is designed to help you maximize savings and minimize overhead costs.

With inflation squeezing budgets, making savvy financial decisions is more important than ever. That’s where Sam’s Club shines, especially for entrepreneurs and small business owners. By taking advantage of bulk pricing and members-only offers, you can significantly cut down on monthly expenses.

On average, Sam’s Club members save up to 25% on grocery bills compared to regular supermarkets. For entrepreneurs running home-based businesses or managing office supplies, that’s a game-changer for your bottom line.

And it’s not just about groceries. Tack on fuel savings at Sam’s Club gas stations, curbside pickup for a small added fee, and more, and you’ll see how it offers constant support for your business and home needs.

Plus, Instant Savings and Bonus Offers give you even more opportunities to grab limited-time discounts on the products you need most. These rotating deals make it easy to maximize your savings on top of already low prices.

While other memberships are raising fees, you can join Sam’s Club for less.

Don’t miss this chance to get a one-year membership with auto-renew for just $15 (regularly $50) when you purchase through September 27.

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As business owners and leaders, we often encounter a variety of problems in our organizations, but not all problems are created equal.

I’ve found that most issues fall into one of three layers, each requiring a different approach to solve. Below, I’ll break down the three layers so you can tailor your business’s solutions to the right problem type.

Related: 2 Steps to Determine the Best Possible Solution to Any Problem

Layer 1: Simple mistakes

For Layer 1 problems, a process is in place, and the person involved knows exactly what they should be doing. The issue here is that they simply made a mistake. It happens to the best of us — sometimes, we just slip up.

When a Layer 1 problem pops up, your first move should be to remind the person of the correct process. A quick, gentle nudge is often all that’s needed to get things back on track. These are the kinds of problems that can be fixed with a brief conversation or a simple reminder.

If this kind of mistake starts happening regularly, it’s time to dig a little deeper. There may be something else going on — stress, disengagement or even burnout. In these cases, it’s important to address the root cause rather than just the symptom. Consistent Layer 1 problems could signal that the employee needs support, whether that’s through better time management, more frequent breaks or addressing any personal issues that might be affecting their work.

No matter what the specifics entail, it’s best to address a Layer 1 problem quickly, ideally providing feedback within 24 hours. The sooner you address it, the easier it is to course-correct and prevent the mistake from becoming a recurring issue.

Layer 2: Lack of understanding

The second layer of problems is a bit more complex. For Layer 2 problems, a process is in place, but the person doesn’t fully understand it. This could happen for several reasons — maybe they’re new and still learning, or maybe their training wasn’t as thorough as it should have been. Either way, the root of the problem is a lack of understanding, not just a simple mistake.

The solution for a Layer 2 problem is straightforward: training. Whether that involves a refresher course or sitting down one-on-one to go over the process again, the goal is to ensure the person fully understands what’s expected of them. Training helps close the knowledge gap and equips the employee with the tools they need to succeed.

If a Layer 2 problem keeps happening, it’s a sign that your training materials — or your training methods — might need an update. Take a look at what you’re teaching compared to the outcomes you’re seeing. Are there gaps in the training? Are there certain parts of the process that employees consistently struggle with? If so, it might be time to update your training to better meet the needs of your team.

When you’re addressing a Level 2 problem, aim to share feedback within a week. This gives you enough time to reassess and retrain while keeping the issue fresh in the employee’s mind. Also, consider including others who might also benefit from the refresher. This proactive approach can help prevent similar problems from arising with other team members.

Related: 5 Steps to Creatively Solving Business Problems

Layer 3: Lack of process

Finally, we have the third layer of problems, which occurs when there’s no process in place at all. If there’s no process, you can’t expect your team to know what to do. Layer 3 problems often happen when your business has grown or changed, and you’re facing new challenges that existing processes just don’t cover. They’re a great sign that it’s time to create or overhaul some new processes.

Layer 3 problems are the most complex because they require you to build something from scratch. The first step is to assess the situation and define what needs to be done. Once you have a clear understanding of the problem, you can begin creating a process that addresses the issue. This might involve mapping out the steps, assigning responsibilities and ensuring that the process aligns with the overall goals of the organization.

Once the process is in place, it’s also essential to train your team so they know how to execute it. You may need to hold workshops, provide ongoing support and be available to answer any questions as they arise.

If a Layer 3 problem keeps happening, it could mean that the process you created isn’t quite right for the team’s needs. In this case, you may need to tweak or update the process or create supplemental processes to cover other parts of the business.

Typically, it takes 2-4 weeks to properly assess a Layer 3 problem, define and document the solution and then train (and retrain) the relevant teams. This might seem like a long time, but it’s worth it to ensure that the process is solid and that your team is prepared to follow it long-term.

Why it matters

Understanding the three layers of problems is crucial for effective problem-solving in any organization. You don’t want your managers to overthink or waste too much time solving Layer 1 problems — these should be quick fixes. On the other hand, you don’t want them to rush through solving Layer 3 problems, as these require more careful planning and execution.

It’s also important to look for trends. For example, if you have a lot of Layer 2 problems, it might be a sign that your training methods need improvement. If you’re seeing a lot of Layer 1 problems, it could be time to review your hiring practices or provide more support to your team.

Related: Facing a Tough Problem? Try These Hacks to Find the Solution You Need

By identifying the layer of the problem, you can set the right expectations around the amount of time and effort needed to find a solution. Next time you face a challenge, ask yourself: Which layer does this problem belong to? Approaching it with this framework will save you time, effort and maybe even a few headaches along the way.

Successful entrepreneurs realize the value of clear communication and efficient workflows. They also know that when a price is as right as this, you jump on it. With Microsoft Visio 2021 Professional, you can create professional flowcharts, org charts, and floor plans that bring clarity to complex processes. And for just $19.97, this lifetime license delivers all the tools you need to visualize success without recurring fees.

Whether you’re launching a startup or managing a growing company, Visio 2021 helps you map out strategies, workflows, and project timelines with precision. For example, if you’re an IT professional, network diagrams make it easy to visualize infrastructure. For project managers, Gantt charts and timelines ensure your team stays on track, and org charts are ideal for scaling your business.

Need to collaborate with multiple users on a project? Visio’s collaboration tools allow you to work in real time with team members, share feedback, and make updates on the fly. This feature is perfect for remote teams or businesses with multiple stakeholders. Plus, with data linking, you can pull live data into your diagrams to make data-driven decisions faster.

In fast-paced business environments, clarity is everything. Visio 2021 helps business leaders and entrepreneurs visualize complex data and transform it into actionable insights. Whether you’re creating a floor plan for a new office space or a flowchart for an upcoming project, Visio’s extensive library of templates and shapes makes it simple to create professional visuals that communicate your ideas clearly.

This one-time purchase is a budget-friendly alternative to recurring fees, making it a smart choice for businesses that need professional-level tools without ongoing costs.

For only $19.97 (through September 29), Microsoft Visio 2021 Professional is a fantastic solution for entrepreneurs looking to boost productivity, improve communication, and visualize success.

StackSocial prices subject to change.

Average growth in information technology (IT) is much higher than that of other industries, and the median wage is reported to be more than double the standard, the U.S. Bureau of Labor Statistics says. If you’re looking for a new or more lucrative career path, it may be smart to consider becoming an IT professional.

While many roles may require a formal degree, roles like support specialists, administrators, and project managers don’t all necessarily demand a degree. Many professionals can earn CompTIA certifications by passing rigorous testing. You can study and prepare for those tests with this 15-course CompTIA training bundle, which is on sale for only $49.97 (reg. $585) for life.

These courses were developed by IDUNOVA, an official CompTIA partner with mor than 20 years spent providing IT education.While these courses can help you prepare for the CompTIA certification exams, it may be helpful to gain relevant experience or a formal degree to land certain positions.

Study CompTIA for a new, exciting career in IT

There’s plenty of variety in the IT industry, meaning there are nearly endless positions to consider if you’re joining this field. Learn to become a debugging expert like Grace Hopper or a cloud-based engineer to join companies like Google or Salesforce.

There are 15 certification prep courses in this bundle, so it might be challenging to figure out where to begin. If you have minimal or no prior IT experience, you might want to start with CompTIA Fundamentals+ and A+, industry standards that also build a foundation for more advanced training.

Other introductory-level courses and certification preparation that might help you land your dream job in IT are Fundamentals+ and Core 1 and Core 2. These could help you get a new job as a desk technician or entry-level cybersecurity position.

From there, you could delve into ethical hacking, a highly in-demand career for many companies. Check out courses like CompTIA Security+ and CompTIA PenTest+ to develop skills to penetrate systems and check their vulnerability.

Ready to work in IT? Grab lifetime access to this 15-course CompTIA training bundle for $49.99 (reg. $585). No coupon is needed to secure this deal.

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