4 Things I Wish I Knew Before Starting My Own Business


Opinions expressed by Entrepreneur contributors are their own.

No matter how gifted or driven you are, starting a business is hard, taxing work. In 2021, I left my 21-year career in finance and became a success coach, leadership consultant and author. I’d heard the statistic that 90% of all small businesses fail, but I thought starting my business would somehow be miraculously easy — it wasn’t. Here are four things I’ve since learned.

1. Self-discipline is harder than you think

Owning a business means you’re the boss. There are no assignments to turn in and no deadlines to meet. No one writes a performance review for you. However, this can be very difficult for some — and I had to learn this unexpected lesson the hard way.

I’ve always been highly organized and structured. For the last decade of my professional career, everything I did was scheduled and calendared in advance. Things were different when I struck out on my own. Conference calls and meetings weren’t on a recurring cadence, and that caused big gaps in my calendar. At first, it was hard to get in a rhythm. I began noticing I wasn’t leveraging my time well. I was sleeping in. If I said I’d check email for 10 minutes, it often turned into an hour. I realized I was allowing myself to become distracted throughout the day because my day wasn’t full of all the same hard stops that had previously existed.

I begin setting a schedule for myself. The only way I was able to write two books in my first two years was by scheduling time to write. At the start of each week, I write down the week’s most important priorities and set goals for myself. I list what actions I’ll need to take to achieve those goals. I schedule them on my calendar. Then, I stick to it. This takes willpower, but if you don’t do it, you’ll find yourself wasting time.

What gets measured gets done, so I also set goals and KPIs for myself. It’s easy to lose motivation when you’re not graded against a scoreboard — so I created my own. I set goals for how many hours, pages or words I’d write each week. I set goals for how many people I’d respond to and how many prospective calls I’d make. When my books hit the market, I tracked sales, revenue and income. On social media platforms, I set some KPIs for my engagement rates. Figuring out what metrics you’re going to watch is critical for success.

Related: 10 Things I’ve Learned In 10 Years of Running My Own Business

2. Pick the right clients and partners

Not everyone is going to be a fit for your services and products, and you’re not going to be a fit for everyone else’s needs, either. One mistake I made in my first year was taking on anyone who would have me as a client or a partner. I’ve since parted ways with my business coach, two vendors and two clients. People who suck your energy or drain your time with nonsense shouldn’t be on your calendar.

In the case of my “fired” clients, they resisted all my suggestions and were hesitant to take my advice. I eventually realized neither of us was getting much from the relationship. It feels good to hold space on my calendar for only those who are aligned in their thinking and want to achieve great things. Initially, because I was just starting out, I was afraid to let go of the income. If someone was willing to pay me, I was willing to take their money. That isn’t the case anymore. Great businesses only work with great clients.

When it comes to vendors, I now shop around. Early on, I hired the first coach, web designer and publishing team I found. Some of those decisions were mistakes. I’ve since decided to broaden my search process when hunting for the right vendor. I do my homework and ask for referrals. In other cases, I like to see examples of prior work. When vendors can’t produce that (or seem annoyed that I’m even asking), I know I’m not dealing with the right partner.

3. It can get lonely sometimes; find ways to add human interaction into your day

Before going solo, I was always part of a team. During most of my career, I interacted with a few hundred people at work. That all changed when I became a private coach and consultant — suddenly, it was just me. When you’re an employee, you’re often constantly involved in conversations with others. When I went independent, there were several hours a day I wasn’t. Right away, I felt a twinge of loneliness. I didn’t have an endless reserve of people with whom I could share ideas.

I now make a point to schedule lunch with clients, prospective clients or colleagues a couple of times a week. I also have found great joy in sharing what I call “Transformation Tuesday” videos with my network and regularly engaging on a few social media platforms with like-minded people. When I’m sharing videos and articles on leadership or mindset, it puts me into conversations with others about things that are important to me. That helps me overcome these solitary feelings. If your job is primarily done solo and you’re feeling a bit lonely, find ways to connect with others regularly.

Related: I Started My Business In My Mom’s Basement at the Age of 17. Here are 5 Rules I Wish I Had Known, But Had to Learn the Hard Way

4. Building a network of your peers is imperative

Initially, I was hesitant to meet other authors and coaches. To some degree, I saw them as competition. I’ve since had a complete change of heart. Last year, I was introduced to another coach who does exactly what I do. When we met, we’d both published our first books. Since then, we’ve written the forewords for each other’s second books! It’s been an honor and a joy to support each other like that. For my third book, I want to work with a publisher. I recently joined a group of authors, agents and publishers and went to one of their events. I couldn’t believe the camaraderie and value I found there. I met other authors who are facing (but overcoming) the same challenges I face. I also met a plethora of agents and publishers who might help me. There’s power in numbers. We are stronger together. Networking with others who are doing exactly what you’re doing (and doing it well) can only help you, not hinder you.

I wish I’d known these four things on my first day as an entrepreneur, but I’m also grateful I know them now. Implementing them will only make you and your business stronger; I guarantee it.



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You’re Reading Body Language All Wrong. Decode Non-Verbal Cues By Following These 5 Steps.


Opinions expressed by Entrepreneur contributors are their own.

Most people think reading body language is as simple as looking at a smile, twitch of the eye or raise of an eyebrow. They know, from experience, that observing a gesture or movement can help them immeasurably assess the intent of the decision-maker across the boardroom table from them. It’s what we’re taught, right?

Actually, it’s wrong.

Picture a vital investor or partner meeting. At the head of the table sits Ms. Johnson, a potential partner whose alliance could elevate your company to new heights. As you lay out your proposal, she briefly touches her necklace. A sign of doubt, you assume. Yet, her posture remains upright, her gaze unbroken, and her lips pressed in contemplation – all signs that she is very determined and has a strong opinion.

This mosaic of gestures – the necklace touch, the steady eyes, the poised posture – is the essence of clusters in body language. Focusing on a singular gesture might have caused a misstep in your interpretation and, thus, your presentation or negotiation strategy. However, understanding the collective message of these cues provides invaluable insights into Ms. Johnson’s mindset. Body language “clusters” are indispensable in business communication.

Individual gestures — when taken out of context — can mislead. However, when multiple nonverbal gestures come together at once or within a short span (and the time frame they appear makes all the difference), they divulge a more comprehensive narrative about a person’s internal dialogue, decision-making process, or sentiment.

For an entrepreneur looking to grow their business, this nuanced understanding can be the difference between sealing a partnership and walking away from a lost opportunity.

Let’s examine ways to read body language in clusters to understand what someone is thinking or feeling more accurately. These insights are derived from my multifaceted career of over 35-plus years spent in thousands of hours of meetings, observing pitches and presenting.

Related: One Negotiation Expert Shares the 4 Body Language Cues Every Entrepreneur Should Recognize

1. Holistic observation

Instead of narrowing your focus to a single gesture, strive to comprehend the person’s overall demeanor. If a colleague looks away but maintains an open stance, their distraction might be external rather than a reflection on the discussion. It’s your job to look beyond the single gesture and see what else is happening with that person (or group of people). Is the gesture in isolation? It rarely is. But that one clue might be the most obvious, so your attention is focused there. You need to be more holistic in your observation and try to unearth whatever other signals are being sent your way.

2. Situational context

A clenched fist in a relaxed setting differs vastly from the same gesture in a heated boardroom discussion — one might indicate anger. In contrast, another may indicate impatience or a desire to interject. Always calibrate your reading to the environment and know any other circumstances driving the behavior. The gesture isn’t isolated from other gestures, but it also isn’t isolated from the environment and the occurring conversation. Make sure to calibrate all these elements as you determine the meaning of the clues.

3. Establish a baseline

Recognize people’s habitual behaviors. A naturally animated person’s gestures may not carry the same weight as those of a reserved individual. Try to discern deviations from their norm (as best you can if you’ve only just met someone), as the most critical messages often lie therein. You can do this at the start of a meeting during the “chitchat” phase. Try to force yourself to notice someone’s behavior when the subject is something other than the meeting’s topic. That’s what will give you insight into their baseline behavior and demeanor.

4. Differentiate between emotion and cognition

Body language clusters can illuminate both feelings and thoughts. Crossed arms with a frown may portray physical discomfort. However, the same crossed arms with a nod could signal agreement despite possible reservations. It’s your job to observe the person (or people) and then try to detect whether the signal they’re sending is an emotional reaction to something just said or if it results from a thought that was triggered. Knowing which one drives body language clues will help you decide how to pivot your presentation to your advantage. The only way to learn is to start silently asking yourself, “are they reacting emotionally or logically?” while in meetings. The mindful awareness alone will help you get better and better at figuring it out.

Related: Body Language Is Powerful — Make Any of These 4 Mistakes, and You’re Silently Sabotaging Your Interactions

5. Engage in deliberate observation

Dedicate time in your interactions to solely observe. In your next important meeting, set aside some brief moments to study collections of non-verbal cues. This intentional practice will help you hone your skill, ensuring it becomes second nature when it matters most. You can even practice this daily – at the coffee shop or grocery store. Observation is a skill that’s honed only when you give it the nurturing it needs and deserves.

For the seasoned entrepreneur, non-verbal communication is replete with insights that can shift your approach to negotiations and presentations. Body language clusters are one of the high-level tools that transform fleeting observations into a deeper understanding of human behavior and decision-making.

As you prepare for key meetings and business interactions, remember that while a single gesture may offer a glimpse into someone’s mind, clusters unveil the complete narrative. It’s within these patterns that the true essence of communication and successful outcomes lie. Consider and practice the concepts above to equip yourself with the first steps needed to notice clusters, and then let every interaction be a testament to the mastery you’re developing.



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Brand New GPT-4o Revealed: 3 Mind Blowing Updates and 3 Unexpected Challenges for Entrepreneurs


Opinions expressed by Entrepreneur contributors are their own.

Unveiling OpenAI’s GPT-4.0: The latest AI with vision, auditory, and emotional intelligence abilities is revolutionizing industries. How will it affect your business?

In today’s in-depth discussion, I uncover three astonishing updates in GPT-4.0’s technology poised to redefine customer interaction, marketing strategies, and operational efficiency. We also confront three critical challenges this AI evolution brings, including ethical considerations, market disruptions, and the competitive landscape—essential insights to keep your venture at the forefront of innovation.

Take the AI skills quiz here (available for a limited time) and equip yourself with practical knowledge by grabbing a copy of my new book, The Wolf is at the Door – How to Survive and Thrive in an AI-Driven World.’



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Clinton Sparks Podcast: The Secrets of Entrepreneurship Told by David Meltzer


Opinions expressed by Entrepreneur contributors are their own.

Don’t miss out on this inspirational exploration into the world of entrepreneurship with David Meltzer. His down-to-earth vibe and solid advice make him the go-to guy for success and happiness.

According to his website, “David Meltzer is the Co-founder of Sports 1 Marketing and formerly served as CEO of the renowned Leigh Steinberg Sports & Entertainment agency, which was the inspiration for the movie Jerry Maguire.”

Free Subscription: Clinton Sparks is an exclusive writer for Entrepreneur+. Join today and get two months free. You’ll also gain access to his upcoming live Q&A on June 10.

More Episodes: Win Big with Clinton Sparks

Here’s a breakdown of all the things we discuss in the podcast:

Leadership and Assistantship:

  • Leadership guides with vision, while assistantship provides vital support for seamless operations.
  • Effective leaders empower their team, recognizing strengths and fostering collaboration.
  • Assistantship complements leadership with attention to detail and proactive problem-solving.
  • The interplay of leadership and assistantship forms a synergy for organizational success.
  • Together, they create a dynamic balance, propelling the team toward its goals.

Jerry Maguire Success:

  • “Jerry Maguire” portrays personal and professional success through rediscovered values.
  • Success, beyond finances, is found in personal fulfillment and meaningful relationships.
  • The film inspires redefining success, emphasizing integrity and authenticity in careers.
  • “Show me the money!” symbolizes achieving success with honesty and principles.
  • The story encourages genuine connections and staying true to one’s values.

Empowerment Mission:

  • Empowerment missions provide tools and resources for individuals to take control of their lives.
  • Addressing inequalities, they foster inclusivity and equal opportunities.
  • Success involves empowering communities through education and skill-building.
  • Empowerment creates a ripple effect, positively impacting broader society.
  • Driven by social justice, these missions believe in the transformative power of empowering others.

Overcoming Fake Inspiration:

  • Authenticity is crucial; genuine motivation comes from sincerity and honesty.
  • Recognizing the difference between superficial and authentic inspiration is key.
  • Overcoming fake inspiration involves introspection and understanding true values.
  • Surrounding oneself with genuine sources, like mentors, helps navigate past the facade.
  • Cultivating self-awareness and staying true to passions are essential in overcoming fake inspiration.

Audience Engagement and Superpower:

  • Captivating storytelling is a superpower in creating emotional connections with the audience.
  • Adapting content to different platforms is a superpower in an evolving landscape.
  • Understanding audience preferences enhances communication and engagement effectiveness.
  • Consistent and authentic communication builds trust and loyalty, a superpower in engagement.
  • Turning passive viewers into active participants is the superpower of audience engagement.



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Types of Music to Improve Your Concentration and Focus


Opinions expressed by Entrepreneur contributors are their own.

Music isn’t just a means of entertainment and expression: it can also encourage creativity and help you become more productive. Listening to music can also be therapeutic, relieving feelings of stress so you can concentrate better.

Research shows that certain types of music can be beneficial to listen to t while working. Some types of music help with learning and improve the ability to process information, while others help block out distracting background noise. So, if you’re struggling with productivity and want to know what you should be listening to, here are seven types of music and playlists that will help you focus.

Related: 12 Ways Millionaires Manage Their Time to Achieve Maximum Productivity

1. Classical Music

Researchers have long claimed that listening to classical music can help people perform tasks more efficiently. This theory, which has been dubbed “the Mozart effect,” suggests that listening to classical composers can enhance brain activity and act as a catalyst for improving health and well-being. Various studies have confirmed that listening to classical music enhances one’s ability to manipulate shapes and solve spatial puzzles.

The absence of words in the music may be one factor, as songs that contain lyrics have been found to be a distraction when you’re trying to focus. Classical music is also known for being calming and relaxing. Some selections, like Beethoven’s “Für Elise,” seem to help students study longer and retain more information. Here are other few classical selections you can use to boost productivity while working:

2. Nature Music

Listening to the sounds of nature, like waves crashing or a babbling brook, has been shown to enhance cognitive function and concentration. Nature sounds work best when they’re soothing sounds, such as flowing water or rainfall, while more jarring noises such as bird calls and animal noises can be distracting.

Researchers at Rensselaer Polytechnic Institute have discovered that natural sounds boost moods and focus. The study found employees were more productive and had more positive feelings when nature sounds were playing in the background while they worked. This may be because nature sounds helped mask harsher, more distracting noises, such as people talking or typing. Researchers also found that workers not only performed better on tasks, but calming nature sounds improved overall brain function. Here are some selections to try:

3. Cinematic Music

An intense film score can make you feel like you’re doing something inspiring or important, even if you’re just chipping away at your to-do list. A grandiose, epic soundtrack playing in the background may make even the most mundane tasks feel like you’re changing the world, thus heightening your concentration and productivity.

Cinematic music scores can be empowering, lifting your spirits and brightening your mood. So, if you’re feeling tired and drained, try listening to some epic cinematic music to give you that extra boost of motivation. Some great movie scores to try include:

Related: 3 Reasons Why You Should Listen to Music at Work

4. Video Game Music

It might seem strange, but listening to music composed for video games can be a great tool to help you focus. Every element of a video game is designed to create an enhanced gaming experience, and the music has been composed specifically to help you focus on your task without being distracted by a cacophony of sounds.

This music generally has no lyrics or human voices and is fairly fast paced to keep you moving forward. Many of these video games involve solving puzzles and dealing with intense situations, so you’re subjecting yourself to simulated stressful challenges. Video games have invested a lot of resources into figuring out the perfect soundtrack that will keep a player focused and motivated. .

Video game music is composed in a way that keeps you engaged as you evaluate, navigate and often fight your way through these make-believe worlds. These musical compositions may be just the thing to propel you onward and keep you working through your tasks and daily to-do list. Here are some video game music selections to check out:

5. Music between 50 and 80 beats per minute

Some research suggests that it’s not the type of music that’s important in helping you stay focused and productive, but the tempo of that music. Studies have found that music with 50 to 80 beats per minute can enhance and stimulate creativity and learning. Dr. Emma Gray, a cognitive behavioral therapist, worked with Spotify to research the benefits of certain types of music. She found that listening to music set in the 50- to 80-beat range puts the brain into an “alpha state.”

What’s an alpha state? If you’ve ever listened to music that you’re familiar with, only to find yourself deep in thought and not really hearing the music at all, this is an alpha state induced by music. You’re tuning out while being tuned in.

It works best to find songs you’re familiar with and set at 50 to 80 beats per minute. To do so, use a guide to count the number of “beats” in the first 15 seconds of a song, and then multiply that number by four. Here’s a playlist of songs in that range, including these popular tunes:

Related: 12 Ways That Music Makes You More Productive At Work (Infographic)

6. Your favorite music

When it comes to tackling projects that you’re not really excited about, it can help to put on music you enjoy. Studies have shown that putting on your favorite type of music can improve your mood and productivity.

Teresa Lesiuk, an assistant professor in the music therapy program at the University of Miami, found that personal choice in music is important when deciding what to listen to while working, especially for those who are moderately skilled at their jobs. Her research found that participants who listened to music they enjoyed completed their tasks faster and came up with better ideas than those who didn’t because the music helped them feel better and improved their mood.

The only time this didn’t hold true was if the music participants listened to was distracting, such as having a beat that was too fast or music with lyrics that caught their attention. So, the next time you need to plow through a mountain of paperwork or stay focused on a task, try turning on your favorite tune.

7. Focus Playlists

If you’re looking for a little bit of variety, there are countless playlists on Youtube and Spotify specifically curated to help you focus. t No matter the type of work you’re doing — writing, reading, studying, filling spreadsheets or something else — one of these playlists will do the trick.

Youtube

Spotify



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What Are the Most Profitable Airbnb Cities for Hosts, Owners


In some cities, Airbnb listings make more than the average weekly wage — in one night.

Using data from Airbnb and the U.S. Bureau of Labor Statistics, the financial site Wealth of Geeks compared average weekly salary data to the average cost per night of a short-term Airbnb rental and found the 10 top cities where renting out an Airbnb could earn a host the most — and in some cases, more than half the salary they would have made in a week.

Related: Airbnb Just Rolled Out Major Changes for Hosts and Guests, Plus New Tools for Groups: ‘It’s Going to Be a Big Win’

“The ability for residents to earn over half their weekly salary from renting out a property for a single night is impressive, not to mention, an extremely convenient way to earn extra income – it’s much easier than time-consuming second jobs or side hustles,” Michael Dinich, founder of Wealth of Geeks stated.

Arizona has seven spots in the top 10, including No. 1 and No. 2.

Airbnb, meanwhile, has recently updated its platform with more experiences for guests and introduced the option to stay at “Icons” houses around the world, from the house in the movie “Up” to Prince’s “Purple Rain” home.

Airbnb also recently released new tools for hosts, like group messaging.

Related: Airbnb’s New ‘Icons’ Cost Less Than $100 Per Night, Including the House from ‘Up’ and Prince’s ‘Purple Rain’

Here are the most profitable cities in the U.S. for Airbnb hosts, based on Airbnb income as a percentage of the average weekly wage.

1. Scottsdale, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $449

Airbnb income as a percentage of the average weekly wage: 55.9%

2. (tied) Tempe, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $402

Airbnb income as a percentage of the average weekly wage: 50%

2. (tied) Charlestown, South Carolina

Average weekly salary: $690

Average Airbnb cost per night: $345

Airbnb income as a percentage of the average weekly wage: 50%

3. Phoenix, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $385

Airbnb income as a percentage of the average weekly wage: 47.9%

4. Las Vegas, Nevada

Average weekly salary: $724

Average Airbnb cost per night: $312

Airbnb income as a percentage of the average weekly wage: 43.1%

5. Glendale, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $344

Airbnb income as a percentage of the average weekly wage: 42.8%

6. Gilbert, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $329

Airbnb income as a percentage of the average weekly wage: 40.9%

7. Chandler, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $322

Airbnb income as a percentage of the average weekly wage: 40%

8. Virginia Beach, Virginia

Average weekly salary: $857

Average Airbnb cost per night: $332

Airbnb income as a percentage of the average weekly wage: 38.7%

9. North Charleston, South Carolina

Average weekly salary: $690

Average Airbnb cost per night: $254

Airbnb income as a percentage of the average weekly wage: 36.7%

10. Mesa, Arizona

Average weekly salary: $804

Average Airbnb cost per night: $292

Airbnb income as a percentage of the average weekly wage: 36.3%



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How to Turn Your Hobby Into a Business


Opinions expressed by Entrepreneur contributors are their own.

A few years ago, my friend Sabah turned her passion for cooking into a chef-on-demand business. She started off serving her local Cleveland area, quickly grew to cover other major Ohio cities and plans to expand even further. She is just one of the many people I know who have turned their passion project into a successful business.

We all have our passion projects. We do them because they’re fun, or we like the challenge, or they’re our way of doing some good in the world. From time to time, though, our niche interests and hobbies lead us to marketable ideas. For many, that’s as far as it goes; they don’t know how to take the next step.

Sabah had a shortcut — she’s married to my friend and business partner, who knew not only the next step to take but all the steps after that. If you’re not lucky enough to have a spouse or friend who can help, here’s how to turn your passion project into a successful business.

Related: Ten Tips To Turn Your Passion Project Into A Business

Hobbies that make great side hustles

So you have a niche hobby, and you’re wondering: How can I make some money from this? It’s important to remember that not all hobbies are created equal, financially speaking. And a niche interest that might have driven profits 20 years ago (collecting Beanie Babies, say) could be a financial sinkhole today.

By keeping a pulse on the zeitgeist, you can anticipate trends and hobbies gaining public interest — and capitalize on those trends. Some, like the following, are side hustle ideas you could start at any time.

Photography

Senior portraits, weddings, special events, professional headshots — quality and affordable photography never lacks in demand. With a website highlighting your work, you can book clients and start earning money from your passion.

Coding

From bug bounty programs to website design, freelance coding offers major earning opportunities. A background in HTML, Python, Java, C++ or a myriad of other coding languages can be a financial boon.

Home design

If you designed your home to belong in an issue of Architectural Digest, others will take notice. Consult on color palettes, furniture selections, room layouts and lighting — and bring your curated aesthetic to the masses with a home design business.

Video and audio production

Whether promoting a brand on social media or starting a podcast, freelance producers can bring a marketing campaign to life. Sell yourself with past work, and mention your experience with programs in the Adobe Creative Suite or Pro Tools.

Gardening

Your green thumb could put some green in your pocket. The landscaping and gardening industry was valued at more than $250 billion in 2024, according to Mordor Intelligence, and if your own garden is thriving, you can fill a niche in your own (proverbial) backyard.

Writing

Can you construct clear and concise copy for a variety of clients? If so, the opportunities are as vast as your vocabulary. Wordsmiths can serve as speechwriters, copywriters, technical writers and ghostwriters, as well as assist with any editing needs.

Baking

Your beautiful cakes, cookies and baked goods could be more than delicious treats; they could be a source of income. Many entrepreneurs found success with home baking during the pandemic, and with proper planning and consistent clients, you can join them.

Vetting if your hobby could be a business

Before you make any hard commitments or major financial decisions, consider if your niche hobby can earn consistent money. Who is the target client? How much are current practitioners charging? How much money do you have saved? How much do you expect to make?

It’s crucial to be clear-eyed about expectations before investing your own money into your venture. The following steps can help you assess whether or not to turn your passion project into a side hustle — or even a career.

Run it by friends

When we have that eureka moment, it sometimes blinds us to flaws in our logic. To get a quick check, run your idea by a few trusted friends. They might be able to point out roadblocks you didn’t think of or know a way to bring your idea to life. For Sabah, that meant asking other chefs for input. Avoid relying solely on one or two peoples’ opinions, but do gauge your friends’ enthusiasm. After all, close confidantes have your best interests in mind.

Analyze the market

Chances are, others have had your idea. Sabah wasn’t the first to think of a chef-on-demand service, but when she analyzed the market, she realized her idea could still work. Market analysis requires thoroughly researching consumer trends and expectations, market size and the demand for your offering.

To truly excel, you must conduct a thorough analysis of your rivals. Although they might offer a comparable product, your goal is to surpass them. Analyze their customer feedback to identify gaps. When you look hard at similar businesses, you might find opportunities to fill the gaps they’re leaving.

Network

Networking with others who have launched their business or product can be invaluable. They’re ahead of you on the journey and can help you avoid costly missteps. If you’re lucky, you might find someone with similar experience and a willingness to mentor you. A good mentor can help you find the path forward when you hit a roadblock. Keep the lines of communication with your network and your mentor open. They know the twists and turns and can save you headaches and expenses.

Devise a business plan

Don’t invest significant money into a project before creating a detailed business plan. Prior steps, such as analyzing the market, will help you write this document, and you’ll want to come away with clear financial expectations. Do the math — calculate your startup and overhead costs, insurance, marketing budget, earnings expectations and taxes. This will give you some base-level expectations and a roadmap to funding, if necessary.

Getting your side business off the ground

You’ve done your research. You’ve talked to friends and other entrepreneurs. You’ve analyzed the market and built a business plan. Now it’s time to take the first big step: getting your side business off the ground.

Turning passion into profit takes work. Don’t be discouraged. There may be moments of doubt and anxiety as your business slowly ramps up. Lean on mentors, and consult your business plan. Like Sabah, if you’ve done the proper pre-launch work, you can keep your head down and follow the roadmap. The following steps can position you for success when turning your niche hobby into a business.

Build an MVP

In the software development world, a minimum viable product (MVP) is a way to test your idea with a small group of early adopters. It’s essentially an early product version with just a few core features. For Sabah, the MVP was a limited menu with a select set of chefs — and she was one of them. Once she proved her idea would work, she hired more chefs and added more meals to the menu based on the feedback she got from her customers. Early and genuine feedback is the goal of an MVP. After all, it’s easier and less expensive to make changes at the beginning of the development cycle than in the middle of it.

Related: 5 Tips for Solidifying MVP, and Why It’s the Most Important Aspect of Building a Startup

Set achievable goals

Be realistic about your first-year financial expectations. In fact, it’s common for new businesses to lose money in their first year of business as they pay back initial investments and build consistent customer bases. Sabah set goals — both financial and personal — that she could reasonably achieve. But don’t mistake this for easy goals. You should be ambitious but practical when planning to achieve your goals.

Get help

Sabah didn’t build her business alone. She knew she needed help building the web applications her fledgling company needed and outsourced that work. Trying to do everything leads to stress, burnout and costly mistakes. It also takes you longer to get to market and could mean competitors beat you to the finish line. Engage freelance help or outsource product development to a team with the knowledge and bandwidth to quickly build a high-quality product.

Knowing when to get help involves recognizing your strengths and weaknesses. Maybe you can build the product but need help with market analysis. Or maybe you need help with building a brand identity and marketing the product. Outsourcing some of the work frees you up to focus on what you’re good at and can take stress off your shoulders.

Related: Asking For Help Is Good For You and Your Business

Keep your finger on the pulse

Markets and trends can shift rapidly, so it’s essential to keep tabs on competitors and monitor your customers’ needs. The last thing you want is a product that’s outdated by the time it launches or a business plan built around last year’s “it” thing. By staying up-to-date on market and cultural trends, you can be ready to shift priorities when the time is right.

It’s been a joy to watch my friend’s business grow. She’s met challenges with grace and never lets setbacks slow her down. And that, too, is key to turning your passion project into a successful business: believing in your vision enough to stick with it, no matter what.



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Samsung Shades Apple’s Crush Ad With New ‘UnCrush’ Promotion


Last week, Apple introduced an ad that received enough backlash to make the tech giant apologize and cut plans to air it on TV. Now, rival Samsung has released an ad that makes fun of Apple’s fiasco by returning to the same scene — but with a different message.

Apple’s Crush iPad Pro ad featured creative objects, like paint, a piano, a record player, and books, bursting under the force of a hydraulic press. When it lifts, an ultra-thin iPad is revealed. The ad doesn’t have a human being in it.

Related: Is It an iPad or a MacBook? Apple Makes It Tough to Tell By Revealing a 13-Inch iPad Pro With ‘Outrageously Powerful’ M4 Chip for AI

Samsung’s new ad, posted Wednesday on X and other social media with the hashtag UnCrush, appears to be shot in the aftermath of Apple’s ad.

A person steps through the rubble of crushed objects left behind at the end of Apple’s ad and picks up a beat-up guitar. They then start playing it while sitting on what appears to be the hydraulic press Apple used in its ad.

Here’s the kicker: They’re looking at sheet music on a Samsung tablet.

“Creativity cannot be crushed,” is Samsung’s message at the end of the ad, before a screen that reads “Galaxy Tab S9 Series with Galaxy AI.”

Related: Apple Issues Apology for iPad Pro ‘Crush!’ Ad and Pulls It from TV

This isn’t the first time Samsung has shaded Apple in an ad. Samsung mocked the iPhone’s battery strength in 2014, the iPhone X notch in 2017, and iPhone cameras in 2022, to name a few.

Apple’s ad was roundly criticized by many — from Hollywood stars to college professors.

Americus Reed II, a marketing professor at The Wharton School of the University of Pennsylvania, told the Associated Press that the ad came across as “technology crushing the life of that nostalgic sort of joy (from former times).”





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Do You Have to Tell Your Employer About Your Side Hustle?


Plenty of Americans are picking up side hustles to earn some extra cash. Thirty-three percent of people say they need their side hustle to keep up with regular living expenses, while 27% say it helps fund discretionary spending, according to a Bankrate survey. A side hustle, by its very definition, is a gig that takes place in addition to (and probably outside of) a 9-5 or other primary occupation.

So, if you are among the 50% of U.S. adults with a side hustle, do you have to let your employer know?

Dan Doromal, co-owner and vice president of operations for Everest Ice and Water Systems, has a unique perspective on the question. He and his business partner, Ben Gaskill, run an ice vending machine company that offers a “cost-effective” solution for on-site ice production — and supports people in using the machines to set up their own businesses.

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Netflix Gets Streaming Rights to Christmas Day NFL Games


Netflix has made another major move to become a destination for streaming live sports as the company has announced it will be the home for the NFL’s Christmas Day games in a new three-year deal.

The streaming platform will broadcast two games on December 25, 2024 — Kansas City Chiefs vs. Pittsburgh Steelers and Baltimore Ravens vs. Houston Texans. Netflix will also stream at least one game on December 25, 2025, and December 25, 2206.

“Last year, we decided to take a big bet on live — tapping into massive fandoms across comedy, reality TV, sports, and more,” Netflix Chief Content Officer, Bela Bajaria said in a company release. “There are no live annual events, sports or otherwise, that compare with the audiences NFL football attracts. We’re so excited that the NFL’s Christmas Day games will be only on Netflix.”

Related: ‘The Rock’ Appointed to TKO Board, Netflix to Stream WWE Raw

The NFL is set to release the rest of its full regular season 2024 schedule at 8 p.m. EST tonight.

It has not yet been reported how much the deal is worth. Neither Netflix nor the NFL has commented.

This news comes at a crucial time for Netflix, as the streaming platform tries to make the jump into live programming and sports.

In July, Netflix will have the exclusive streaming rights to the boxing match between Jake Paul and Mike Tyson, which subscribers can watch at no additional cost.

Netflix also bought the streaming rights to WWE Raw, which will begin in 2025, a deal valued at an estimated $500 million for a 10-year contract.

Related: Jake Paul, Mike Tyson Selling $2 Million Ticket Packages Ahead of Netflix Fight — Here’s What It Includes

The platform has also begun offering a slew of popular original NFL programming, including the “Quarterback” documentary series and “Receiver,” which will be released this summer and show the lives of five superstar NFL receivers during their 2023 seasons.

“We couldn’t be more excited to be the first professional sports league to partner with Netflix to bring live games to fans around the world,” Hans Schroeder, NFL Executive Vice President of Media Distribution said in a release.

Netflix was up over 83% in a one-year period as of Wednesday afternoon.



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