China-based startup DeepSeek became an AI standout this week by creating an AI model believed to be on par with leading models from U.S. startups — at a fraction of the cost. In a research paper released last month, DeepSeek said it developed its AI for under $6 million in only two months, a far cry from the $100 million it takes U.S. startups to train AI — and that’s on the lower end of the spectrum, according to Anthropic CEO Dario Amodei.

It quickly rose to the top of the app store charts, challenging the U.S.’s position as the world’s leader in AI. The release set off a race for AI dominance and shook Big Tech stocks, causing AI chipmaker Nvidia to lose almost $600 billion in market value one day and new competitor claims — from having an even better model to allegations of theft.

According to White House AI and Crypto Czar David Sacks, DeepSeek’s arrival shows that Chinese companies are “hot on our heels” but that the U.S. maintains its leadership in AI. He says DeepSeek’s AI is on par with OpenAI’s o1 model, which came out about four months ago.

“We basically have somewhere between a three and six-month lead on them [Chinese companies],” Sacks said. “But they are catching up very, very fast.”

^{DeepSeek. Photo Illustration by Justin Sullivan/Getty Images}

ChatGPT-maker OpenAI says DeepSeek is copying it

OpenAI and Microsoft are investigating whether DeepSeek used large amounts of OpenAI training data without permission for its own AI. OpenAI told The Financial Times earlier this week that it had proof that DeepSeek used its large AI models to create its own through a process called distillation, in which one AI model learns from another like a student learning from a teacher.

Sacks backed up OpenAI’s claims in an interview with Fox Business on Tuesday.

“There’s substantial evidence that what DeepSeek did here is they distilled the knowledge out of OpenAI’s models,” Sacks said. “I think one of the things you’re going to see over the next few months is our leading AI companies taking steps to try and prevent distillation.”

Other industry leaders say DeepSeek’s success is due to the collaborative nature of open-source AI models.

DeepSeek “came up with new ideas and built them on top of other people’s work,” Meta’s chief AI scientist Yann LeCun stated in a Threads post on Saturday. “Because their work is published and open source, everyone can profit from it.”

Alibaba claims it has a better model

Chinese e-commerce company Alibaba is claiming that it has developed an even smarter model than DeepSeek’s.

Alibaba on Wednesday released a new AI model called Qwen 2.5 Max edition that the company says scored better than AI from Meta, OpenAI, and DeepSeek in leading benchmark tests, per Bloomberg.

“Qwen 2.5-Max outperforms … almost across the board [OpenAI’s] GPT-4o, DeepSeek-V3 and [Meta’s] Llama-3.1-405B,” Alibaba’s cloud division stated in an announcement on its official WeChat account, according to Reuters.

Related: What Is Stargate? OpenAI, Oracle, Softbank, and President Trump Team Up for $500B AI Infrastructure Initiative.

Fans of Sonic the Hedgehog know all about his love of chili dogs. So why shouldn’t the blue video game hero have his own restaurant? Kevin Seo, creator of the Sonic the Hedgehog Speed Cafe pop-ups, is the one who made it a reality.

Seo started in the corporate world but soon found his true calling outside of it. He now helps creators from many different arenas launch brands and events. Seo is a co-founder of companies such as Secret Sauce Society, a marketing agency, and Logistics Consulting.

Seo’s first viral sensation was a restaurant specializing in smash burgers — also the world’s first NFT-themed restaurant. He and his partners purchased a Bored Ape Yacht Club NFT to acquire the rights to the image. Their blockchain burger joint, Bored And Hungry, rapidly spread to global locations. The idea, which started in Long Beach, California, now has six locations in Asia.

Related: How These Entrepreneurs Turned a Seasonal Venue Into a Nightlife Powerhouse

Bored and Hungry’s viral success soon attracted the attention of bigger brands. Eventually, Seo talked to SEGA, the company behind one of his favorite nostalgic video games, Sonic the Hedgehog. The idea of turning the beloved video game character’s favorite food, chili dogs, into a real-world restaurant was too good to ignore.

Seo collaborated with up-and-coming creative designers on everything from streetwear to packaging to curate a truly immersive experience. Bringing the game to life required paying attention to every detail, down to the AstroTurf flooring in the restaurant. The team had a pop-up concept made to go viral.

The first location of the Sonic the Hedgehog Speed Cafe launched at ComicCon 2023 in San Diego. Game fans could enjoy chili dogs, cheese fries and more. Seo and his team made sure to prioritize the quality of ingredients to make the most of this food experience.

Seo’s philosophy regarding the Sonic the Hedgehog Speed Cafe was simple: He cared about the fans and wanted to bring them from the video game world to a totally new platform.

The company launched its current pop-up in Atlanta on January 18; the cafe will only be open for 60 days.

Related: This NYC Man Is Revitalizing the Famous Bar From ‘Goodfellas’ As It Approaches Its 200th Anniversary

Content state of mind

How do you maintain momentum in a creative endeavor like this? Seo sees everything as potential content for his personal brand or the brands he partners with. His state of mind is “always content.” You never know what will work or what will make an emotional impact in just the right way.

He embraced this idea by creating the Good Service podcast. He teamed up with his friend Ben Chung to share their spiritual lives with the world. Seo said their faith drives everything they do, both at work and at home.

They started this show for fun but soon committed to recording every Thursday. They always have good food on the table to showcase local restaurants. Their guests are broad, and the conversations are deep.

Seo’s best advice for anyone thinking of starting their own podcast or similar show comes from his own experiences. He believes that authenticity and vulnerability, though hard, are critical to making lasting connections with your listeners.

“It’s so easy to spot someone just faking it,” Seo says.

Related: Embracing Fear Fueled this Michelin-Rated Chef’s Comeback

About Restaurant Influencers

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Related: The Army Was Tough, But Restaurants Made Her Cry — Lessons From the Drive-Thru From a Former KFC Exec

Real estate entrepreneur and long-time “Shark Tank” star Barbara Corcoran says she’s hired thousands of people during her career—including hiring (and firing) her own mother.

Now the 75-year-old investor and mentor is sharing her advice when it comes to what to look for when hiring. And if you think you need a strong resume to work with Corcoran, you’d be mistaken.

Related: This Is the Most Important Part of Starting a Business, According to Daymond John, an Entrepreneur Worth $350 Million

“I’ve hired thousands of people over the years and this is the No. 1 thing I’ve learned,” Corcoran says in a video posted to Instagram. “Always hire attitude over experience.”

“You have someone with the right attitude, you can teach them anything!” Corcoran continues. “Forget about the resume.”

“Think about their attitude and their willingness to learn,” she adds. “That’s what I’ve learned.”

Commenters mostly agreed with Corcoran’s thoughts, with one writing: “The best advice!!!! Agree 1000%; makes work and team environment so good too!”

Related: Barbara Corcoran Only Flies Coach. Here’s Why.

Others said they were applying her advice to their company’s hiring processes.

“Cheers to this. I just interviewed some people and this is what I pay close attention to!” a user added.

Though not everyone said it works in their field.

“I feel like it’s been the opposite recently within the design world,” one user wrote—before asking if Corcoran was hiring.

Related: Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home

We’ve all heard the tales about major companies that were once nothing more than a small side hustle in someone’s garage. This is an entrepreneur’s dream, but scaling a side hustle may be more challenging than you might imagine. As a business grows, it becomes more complex, requiring the business owner to take risks, hire new team members and expand into uncharted services or demographics.

It’s critical for entrepreneurs to know how to scale their business without losing focus on the business itself. After all, you have to keep servicing your customers while you are working toward expansion. Here are some easy ways to make sure you are well-positioned to scale your side hustle to the next level.

Related: 5 Keys to Turning Your Side Hustle Into a Successful Business

1. Develop a clear expansion strategy

Scaling a side hustle to a full-fledged business can be overwhelming and scary. The reality is that most entrepreneurs are overly ambitious and set their sights on big accomplishments. The challenge is that without a clear expansion plan, you could hinder your progress or leave your business stuck in side hustle mode.

Take the time to carefully examine what bottlenecks could be holding your business back from growing faster, what opportunities you have to add additional products and which demographics could offer a new customer segment. With a clear and concentrated effort, you’ll be more likely to benefit from each intentional action you take to scale your business.

2. Expand your team

In most cases, growing your side hustle will require additional help to service customers, process orders and manage other administrative tasks. This is probably the most intimidating thing about scaling a side hustle. The first step is to start getting tasks off your plate. Start by automating any recurring tasks that you have. This not only saves you time but means you don’t have to hire someone to do this activity. You can also outsource things like bookkeeping and social media management. By freeing up your schedule, you can spend more time capturing more sales and starting to work on things that will help you scale more efficiently.

Another challenge is that when you’re flying solo, everything falls on your shoulders. While it’s great to get additional employees to help, there may be a struggle to let go and trust others to provide the same quality of care that you put into your business. Strategic business coach Bruce Eckfeldt recommends implementing and documenting standard opening procedures. This ensures that new team members know how to do things to your standard and provide a consistent customer experience.

3. Prepare financially

Cash flow is essential for any business, but it’s especially important for scaling businesses. In fact, over 80% of businesses fail for this reason alone. As you grow your business, you’ll need additional cash reserves to pay for higher expenses, maintain a larger inventory and cover payroll costs. This is especially important when hiring employees, as this will likely be one of your largest expenses. It’s a good idea, as Jeff Sauer recommends, to have a clear understanding of the financial benefit the employee will return to the business before you hire them.

Spend time with your bookkeeper or accountant to better understand what you can do to strengthen your business’s cash flow. In some cases, it might be good to proactively secure a line of credit with your bank that you can use if needed.

Related: This Graduate Student Started a Side Hustle to Help Pay Tuition. It Earned Over $115,000 Last Year — More Than His Full-Time Job.

4. Invest in the right technology

In the beginning, most entrepreneurs focus on implementing cheap or free technology. This can be beneficial, especially when you have limited financial resources. As you grow your business, you’ll want to implement tools and technology that are scalable. Think about where you see your business in five or 10 years. You should be implementing tools that can handle that future anticipated volume — otherwise, you may be forced to change technology platforms, which can be disruptive for your growing business.

5. Establish KPIs

As your business grows, it’s important to understand if the business remains healthy. A great way to measure your success is by implementing key performance indicators (KPIs). These metrics can give you an early indication of something going wrong and help drive performance with your team. You can track metrics like average customer satisfaction rating, shipping lead times, customer conversion rates and total sales volume. To keep the team focused on what’s most important, try to limit the number of KPIs to five to seven key metrics.

6. Get outside support

While you might be an expert in your side hustle, you might not be an expert in running a full-scale version of your business. Don’t be afraid to reach out to others and ask for help, support and guidance. Connecting with other business owners is a good way to tap into their past experiences. If you don’t have those connections to leverage, you can also hire a professional business coach to provide feedback, recommendations and advice on how to make the most of your business expansion.

Related: How to Go From Side Hustle to 7-Figure Business and Beyond, According to 3 Women Who Did It

Scaling a side hustle can be overwhelming. It’s important to recognize that this is a journey and success may not happen overnight. Be patient with yourself. In addition, growing a business requires a lot of hard work. Don’t forget to prioritize your physical and mental health to avoid burnout. By keeping yourself motivated, you can keep moving the needle toward the business you want to have.

It pays to be TikTok famous—Meta is trying to lure popular TikTok content creators away from TikTok towards Instagram with high-paying deals for exclusive Reels.

Business Insider reported on Monday that Meta is offering some creators with more than one million TikTok followers compensation of up to $50,000 per month for exclusive short-form content posted to Instagram Reels, Meta’s version of TikTok.

According to the leaked contracts, the payouts range from $50,000 per month for six months, for a total of $300,000 at the higher end, to $2,500 per month over six months, for a total of $15,000 at the lower end. There are tiers in between offering $25,000, $15,000, and $5,000 per month.

Related: Meta Is Building AI That Can Write Code Like a Mid-Level Engineer, According to Mark Zuckerberg

But there is a catch: the contracts have exclusivity agreements that range from posting up to 10 Reels exclusively on Instagram every month to keeping videos exclusively on the platform for at least three months.

With the deals, Meta is hoping that the uptick in exclusive content on Instagram incentivizes a creator’s audience to migrate over from TikTok to watch their Reels.

On the creator side, the money is a draw — though it might not be a strong enough pull for everyone. According to ZipRecruiter, influencers in the U.S. make an average annual income of about $58,000 or $27.85 per hour. TikTok influencers have pay that varies widely, with top influencers receiving between two to four cents per 1,000 views through the TikTok Creator Fund.

“Some clients are taking [the deal] because the money is good for them, and I’ve seen some clients pass,” one talent manager told BI. They said that the exclusivity and requirements to post frequently made the deal “untenable” for some of their clients.

Exclusivity in influencer partnerships isn’t a new concept. Brands like luxury fashion marketplace Farfetch have asked creators to agree to a 48-hour competitor exclusivity window when creators promote their products.

Meta is working hard to sign creators up for these contracts and even launched an additional “Breakthrough Bonus” initiative last week to pay TikTok creators new to Facebook or Instagram up to $5,000 within three months for Reels content.

“Meta is being really bullish on locking these in,” another talent manager told BI.

Meta’s push into short-form content arrives as TikTok’s fate remains unclear. TikTok faced legislation forcing it to separate from its parent company ByteDance or face a ban in the U.S. by January 19. Though President Donald Trump granted it an extension to find a buyer, and anyone from Kevin O’Leary to Microsoft are reportedly in talks to buy it, TikTok has yet to sign a deal.

Inside the terms of a $50,000-per-month deal

According to BI, Meta has sent an offer totaling $300,000 over six months to several select content creators. It’s not certain when the deal starts and who received it.

As part of the deal, creators must post at least 10 new Instagram Reels per month and keep each one exclusively on Instagram for three months from the time of posting. Each video must be at least 15 seconds long but no longer than three minutes, and creators must share two of them per month as Instagram stories.

Related: YouTube Takes on TikTok With New Tools: ‘You Can Build a Business’

This contract says that the creator has to post twice a month on TikTok or YouTube promoting their Instagram Reels and asking their audience to follow them on Instagram, plus post 25% more on Reels than TikTok or any other short-form video platform. So five on Instagram for every one on TikTok.

Instagram could also advertise a creator’s Reels content on TikTok through paid ads, as part of the contract.

Inside the terms of a $15,000-per-month deal

According to BI, the $15,000-per-month offer has been sent to several creators. It requires them to post eight new Reels per month that are at least 15 seconds but no longer than three minutes.

The content has to be exclusive to Instagram for at least three months from the time of posting, just as with the $50,000-per-month contract.

Creators have to post more content to Instagram than they do to any other platform, including TikTok, X, and YouTube, though the exact percentage isn’t specified in this contract.

Related: Shorter Videos Are In Demand. Here’s How Different Social Media Platforms Are Reacting.

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

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

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

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

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

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

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

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

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

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

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

For the full report, click here.

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

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

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

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

The overwhelm of tech choices

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

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

Why mindfulness matters in a tech strategy

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

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

Applying mindfulness to your tech

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

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

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

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

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

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

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

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

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

Related: 12 Character Traits Exceptional Entrepreneurial Leaders Have In Common

The core traits of effective leaders

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

Visionary thinking

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

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

Empathy and emotional intelligence

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

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

Adaptability

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

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

Accountability

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

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

Communication skills

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

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

Related: 8 Must-Have Leadership Qualities for Workplace Success

What every manager should strive for

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

Fostering growth

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

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

Building a positive culture

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

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

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

Balancing authority and approachability

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

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

Common challenges and how to overcome them

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

Here’s how to overcome them:

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

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

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

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

Actionable steps for aspiring leaders

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

Actionable steps:

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

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

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

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

Becoming the leader your team deserves

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

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

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

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

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

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

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

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

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

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

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

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

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

What autonomous vehicles mean for Uber drivers

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

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

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

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

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

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

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

Location-based (Brick-and-Mortar) businesses

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

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

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

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Service-based businesses

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

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

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Project-based model

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

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

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

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

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

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

Subscription-model

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

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

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

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

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