Startups worldwide want to improve their reputations, meet partners and investors and scale their business. Innovative ideas come from every corner of the globe, which makes entrepreneurship open to anyone — no matter their background, gender, race or experience. However, depending on a startup founder’s location, it might be difficult to get the right level of visibility and connections to expand their business successfully.

I believe that Silicon Valley, the birthplace of innovation, remains a critical center of entrepreneurship. One way to access Silicon Valley — including stakeholders that can help a startup grow — is to participate in startup competitions.

Related: This Low-Cost, Low-Effort Growth Strategy Could Transform Your Company Into an Innovation Powerhouse

History of Silicon Valley

Silicon Valley, a term originally used by Electronic News in 1971, started with the invention of the semiconductor. It’s in the South Bay of California and is now known as the center of technology innovation. San Jose is the region’s largest city; the presence of highly regarded universities in the area — such as Stanford University — provides a strong foundation of research and development.

Since many famous startups and technology companies started in Silicon Valley, it is also the home to Venture Capital (VC). Investors are critical to a startup’s success, and it is important for founders to make connections with VC firms. Major technology companies are based here — including Intel, Nvidia, Apple, Alphabet, Meta, Cisco and Netflix, among others.

Silicon Valley is unique due to its culture of innovation, which encourages risk-taking and even failure. Startup founders, corporate executives and investors understand the importance of exploring new ideas, even if they do not all succeed. This culture is perfect for entrepreneurs who want to be innovative in a supportive environment.

As a result of the success of such companies, Silicon Valley is a wealthy region. In fact, Silicon Valley Indicators show that in 2022, the region’s median household income was over $149,000 — higher than even San Francisco. It’s also the home of well-known unicorns, defined as startups valued at over $1 billion. These include Open AI, SpaceX, Zoom, Miro and Anthropic. It’s helpful for startups to be well-connected in Silicon Valley since this provides access to potential investors, partners, customers and employees — all of whom can help propel them to success.

How startup competitions help entrepreneurs

Participating in startup competitions has several benefits for entrepreneurs. At the competitions, startups will pitch their business ideas to investors, which can help them not only strengthen their pitch but also win cash prizes and/or investments. Competitions also provide critical networking opportunities to other ecosystem members. Entrepreneurs typically learn a great deal from fellow entrepreneurs, participating investors and corporate executives who are participating.

Startup competitions give entrepreneurs visibility, which is important for their personal reputations and their company’s. Pitches are typically done on-stage in front of a large audience; the audience will be even larger if the competition is broadcast virtually. High-profile journalists normally attend startup competitions, which gives founders the opportunity to interview and be part of published articles — spreading their visibility further.

Related: How a Seasoned Silicon Valley Veteran Keeps Innovation at the Forefront of Business

Startup competitions in Silicon Valley

Based on my experience, several competitions in Silicon Valley come to mind that will benefit entrepreneurs. Startup Grind is a well-known conference that gives startups the opportunity to pitch their ideas, gather feedback and set up meetings with investors. The Startup World Cup (SWC), started by Pegasus Tech Ventures — a well-regarded VC firm — hosts about 100 regional competitions around the world. SWC is recognized by Google and ChatGPT as the largest startup competition in the world. It culminates in a Grand Finale during which the grand prize winner receives a $1 million investment. TechCrunch Disrupt is another popular conference that gives entrepreneurs a chance to pitch their ideas and network with startup ecosystem members.

Prestigious universities near Silicon Valley provide not only centers of research and development; they also host well-regarded business plan competitions. The Haas School at the University of California Berkeley is home to the BerkeleyHaas Entrepreneurship Program. The program, well-regarded by the academic and technology communities, hosts the University of California Startup Accelerator, the Venture Capital Investment Competition and the Hult Prize Competition. Meanwhile, Stanford University in Palo Alto is home to the Business Association of Stanford Entrepreneurial Students (BASES), which aims to enable entrepreneurship at the university. Its annual Challenge attracts more than 250 startups from around the globe to compete for cash prizes.

Advice for entrepreneurs

When speaking to startup founders in all regions of the world, I typically advise them to tap into the strength of Silicon Valley. This region, historically the center of technology innovation, remains critical due to its strong startup ecosystem. Many startups, corporations, VCs and media are based there. Even if a startup is based elsewhere, it’s smart to tap into the power and network of Silicon Valley by participating in startup competitions.

This enables founders to refine their pitch, gather valuable feedback, increase visibility and network with potential partners, suppliers, customers and investors. This effort is well worth the time and expense, given its potential to expand a startup’s presence and scale it rapidly. Doing so will help bring its innovative ideas forward to benefit the world.

Related: 5 Ways Startups Can Increase Their Visibility

Despite trying to be prepared and holiday shopping early, the question of what’s open and what’s closed during Christmas inevitably always comes up. From needing last-minute gifts to home-cooked meals gone awry, it’s important to know where you can turn in times of a kitchen mishap or broken present.

This year, the holidays fall midweek, and many businesses appear to be staying open on Christmas Eve (Tuesday, December 24) and closing on Christmas Day (Wednesday, December 25) — though check with your local stores before heading out.

Here’s what’s open and closed this Christmas holiday.

Shopping

Both Target and Walmart are open on Christmas Eve (until 8 p.m. and 6 p.m., respectively) and closed on Christmas Day.

Macy’s and Kohl’s are open on Christmas Eve until 7 p.m. and closed on Christmas Day. Nordstrom, meanwhile, will have “limited hours” on Christmas Eve and close on the 25th.

Home improvement stores Home Depot and Lowe’s are open on Christmas Eve (until 5 p.m. and 6 p.m., respectively) and closed on Christmas Day.

Grocery stores

Like retail stores, many grocers are open (some with modified hours, some with regular hours) on Christmas Eve and closed on Christmas Day, including Albertsons-owned stores, Kroger-owned stores, Aldi, Whole Foods, and Trader Joe’s.

All Publix stores close at 7 p.m. on Christmas Eve and will be closed on Christmas Day, December 25, the company said.

Wegmans stores will close at 6 p.m. on Christmas Eve and close on Christmas Day.

However, for those in a pinch, select Albertsons, Safeway, ACME, and Vons stores will be open on Christmas Day with adjusted hours, so check with your local location.

Post Office and Shipping

USPS local locations are open on December 24 and regular mail will be delivered, the agency says. On Christmas Day, post offices are closed and regular mail will not be delivered. However, Priority Express Mail will still be delivered on the 25th.

UPS and FedEx stores and deliveries will not be operating on Christmas Day.

Banks and stock markets

Most banks will be closed on Christmas Day and close early on Christmas Eve, though ATMs should be functional. The midweek holidays affect stock markets as well—both the New York Stock Exchange and NASDAQ are closed on Christmas Day.

Pharmacies

Pharmacies are a little different—especially Walgreens, which will be open on Christmas Eve and Christmas Day with normal business hours. The company’s 24-hour pharmacies will remain open, even on Christmas, but non-24-hour locations (pharmacy only) will close on Christmas Day.

CVS will also be open on Christmas Eve and Christmas Day, but the company says some stores will have reduced hours, so check with your local shop.

Rite Aid, meanwhile, will be open on the 24th and close on the 25th.

Chain Restaurants

Many McDonald’s and IHOPs will be open, while Chick-fil-A and Chipotle are closed. Check your local locations before heading out.

Shaquille O’Neal is a busy man. The four-time NBA champion is a broadcaster, a partner in multiple franchises, an investor, a philanthropist, and an educator. And all of those pieces come together in his latest project, The Grind, a three-episode YouTube series that features entrepreneurial students of the online teaching platform Campus competing for $60,000 in prize money.

“We wanted to give these kids and young adults a chance to pitch,” Shaq told Entrepreneur for an upcoming episode of the How Success Happens podcast. “We wanted to see grit, resilience, determination, and belief, and they came up with some great ideas. It was great to see.”

Related: Shaquille O’Neal Used an Unconventional Strategy to Start His Chicken Restaurant — Here’s Why It Worked

The show was filmed at Campus investor Joe Lonsdale‘s home in Austin, and Shaq was joined by judges Jennifer Hyman (CEO of Rent the Runway) and Poppy Thorpe (Snapchat board member) to help make the big money decision.

While the spirit of the show is about nurturing new ideas and encouraging talent, it was not all lovey-dovey. The students were put through a competitive admissions process to get on the show, and throughout the three-part series, they went through intensive workshops and rigorous pitch practice sessions.

Shaq routinely advised competitors to calm their nerves when it came time to ask for funding. “ I was speaking from experience,” Shaq explains. “When you come into somebody’s world and want to borrow their money, you have to be confident. You gotta speak to the experts and know the ins and outs of your business. I do my due diligence so I can really understand what I’m asking for. You don’t want to go into a meeting with Jeff Bezos and just ask for a hundred million dollars. You want Jeff to understand your business and what you will do with that money. You want him to believe in you.”

The entire season is up now — binge to find out who walks away with a life-changing investment!

Related: Watch the New Season of ‘Elevator Pitch’

KFC is shaking up the fast-food landscape by announcing its new chicken tenders-focused concept, Saucy. The chain, long known for its Original Recipe fried chicken, is making a strategic pivot to cater to the growing demand for customizable, sauce-heavy meals. With this move, KFC aims to capture a slice of the fast-food market while reinforcing its position as a leader in chicken innovation.

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

“Everyone is obsessed with sauce – more is more,” KFC’s chief new concept officer, Christophe Poirier, told Nation’s Restaurant News (NRN). “With Saucy, we’ve taken KFC’s famous Original Recipe and amplified it with a brand-new concept that lets consumers play with flavor.”

Saucy features chicken tenders and 11 sauces — with flavors including Chimichurri Ranch, Jalapeño Pesto Ranch, Spicy Mango Chutney and Sweet Teriyaki, NRN reported. The first location is scheduled to open in Orlando, Florida, on January 10, 2025, making it the debut hub for what the brand describes as a “flavor-forward dining destination.”

Saucy joins a wave of similar experiments by major players in the quick-service restaurant (QSR) space. Taco Bell has its Cantinas concept, focusing on elevated menu items and urban-style locations, as well as a new coffee concept, Live Más Café. Meanwhile, McDonald’s has been testing a spinoff beverage concept, CosMc’s, targeting suburban diners with nostalgic branding and unique menu offerings.

Related: See Who Made This Year’s Franchise 500 Hall of Fame

These moves highlight a broader trend in the QSR industry: the pursuit of niche concepts that differentiate brands in an increasingly crowded market. By honing in on specific consumer preferences — like KFC’s focus on saucy chicken tenders — brands hope to build loyalty and capture market share in untapped segments.

This approach could be particularly lucrative for KFC. The chicken tenders segment has been growing steadily, with sauces and customization key drivers of consumer satisfaction, Food & Wine recently reported. KFC’s deep brand equity and proven innovation ability — seen in past hits like its chicken sandwich and plant-based nuggets — position the chain to succeed with this venture. If the Orlando location proves successful, it could pave the way for a broader rollout, further cementing KFC’s place as a frontrunner in chicken-focused fast food.

Related: Greg Flynn Owns 1,245 Restaurants and Makes $2 Billion A Year. Here’s How He Did It.

Read More: Nation’s Restaurant News

Imagine a team so energized that every project feels like a shared victory, where ideas flow freely and people bring their best to work every day. It’s the kind of environment every leader dreams of, but it doesn’t happen by chance. Motivation isn’t something you can buy — it’s something you need to build.

Something I’ve learned as the founder of ButterflyMX is that when employees feel truly motivated, they don’t just show up — they step up. Motivation fuels productivity, creativity and the kind of ownership that takes a project from “done” to “exceptional.” Because when you get this right, you don’t just lead a team — you unlock their potential.

Related: 12 Ways You Can Immediately Start To Motivate Your Employees

Understanding what truly motivates employees

To understand what truly motivates employees, you need to look into the deeper drivers of engagement: purpose, growth and recognition. People want to know that their work matters, that they’re progressing in their careers and that their contributions are seen and appreciated.

This comes down to two types of motivation: intrinsic and extrinsic. Extrinsic motivation comes from external rewards — things like bonuses, promotions or public praise. It works well for short-term goals but rarely sustains long-term commitment. On the other hand, intrinsic motivation comes from within. It’s the personal satisfaction of solving a complex problem, the pride of mastering a new skill or the joy of contributing to a shared mission.

Here’s the key: Different people are motivated by different things. Some thrive on growth opportunities, others need clear recognition, and some are energized by a strong sense of purpose.

Build a foundation of trust and purpose

A motivated team shows up because they believe in what they’re doing. When employees see how their tasks impact the bigger picture, they bring more energy and pride to their roles. As a leader, it’s your job to connect their day-to-day work to a larger mission. Whether your business is improving lives, solving complex challenges or delivering exceptional service, consistently reinforce why the work matters. People want to know they’re moving the needle in a meaningful direction.

And it starts with you. Lead with authenticity. Your team mirrors your energy, so show up with enthusiasm, transparency and a clear sense of purpose. Share your vision openly, acknowledge challenges honestly, and bring genuine excitement for what’s possible. When your team sees that you believe in the mission and in them, they’ll feel empowered to do the same.

Related: The Key to Employee Engagement Is Purpose. Here’s Why — and How to Foster It in Your Workplace.

Recognize and celebrate wins — big and small

Recognition is one of the simplest — and most powerful — tools you have to motivate your team. The key to effective recognition? Make it personal. Some employees light up when their achievements are highlighted in a team meeting, while others prefer a quiet “thank you” in a one-on-one chat. Taking the time to tailor your approach shows that your recognition is genuine, not just a box to check.

Equally important: Celebrate progress, not just perfection. It’s the smaller, incremental wins along the way that keep teams motivated. Did someone meet an ambitious deadline? Recognize it. Did your team brainstorm a great solution to a challenge? Celebrate their creativity.

Small moments of appreciation can create big shifts in energy and engagement. Even a simple “I see how hard you’re working on this, and I really appreciate it” can go a long way.

Recognition doesn’t need to be elaborate, expensive or over-the-top — it just needs to be consistent and sincere.

Foster connection and collaboration

Motivated teams aren’t just groups of individuals — they’re connected, collaborative units that thrive on trust and shared purpose. As a leader, it’s up to you to create opportunities that foster these connections.

Start by building moments for team bonding. Simple, intentional opportunities like virtual coffee chats, team lunches or collaborative brainstorming sessions can go a long way. The goal is to create spaces where team members can connect as people, not just coworkers. A team that knows each other beyond their job titles is more likely to support, trust and motivate one another.

Next, shift the focus from competition to teamwork. Competition might drive short-term results, but it can also fracture teams and create unhealthy dynamics. Instead of asking, “Who’s performing best?” ask, “How can we succeed together?” Celebrate group wins as much as individual achievements, and remind your team that their combined strengths will get them further than anyone can go alone.

Finally, build a culture of constructive feedback. Motivated teams don’t operate in silence — they thrive on clear, actionable feedback that helps them improve. Praise effort, highlight wins, and, when offering constructive criticism, be specific and solutions-focused. Instead of vague feedback like, “You need to do better,” try, “I loved your initiative on this project. Let’s explore how we can sharpen the results next time.”

Related: Why Prioritizing Connections Will Be the Superpower That Drives Your Success

Promote work-life balance to prevent burnout

Burnout kills motivation faster than any setback or challenge. When teams are overworked, overwhelmed and running on empty, their creativity suffers, productivity dips and engagement fades. A team that feels constantly “on” won’t deliver their best — they’ll simply do what it takes to survive. To keep motivation alive, leaders must prioritize rest, balance and sustainable workflows.

Start with policies that empower your team to recharge. People have different rhythms and responsibilities outside of work, and a little flexibility can go a long way in keeping them motivated and refreshed. But policies only work if you, as a leader, set the tone. Lead by example, model healthy work-life balance: Take time off when needed, protect your evenings, and show your team that rest is not just allowed — it’s encouraged.

Motivation isn’t something you check off a list — it’s something you build into the DNA of your team. The energy of your team determines the success of your company. When you make motivation a daily priority, you’ll unlock a level of performance, creativity and collaboration you didn’t think possible.

For entrepreneurs and professionals, a reliable tool can make all the difference — even something as simple as a pen. The ForeverPen™ takes simplicity to the next level by offering a writing instrument that’s not only portable and durable but also completely inkless.

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Whether you’re planning on working hard or hardly working in 2025, this refurbished iPad Air could be your perfect partner. Here’s the deal: It’s a few years old and pre-owned, so you save $274, even though it’s still an excellent tablet for working on the go or entertainment at home.

The only catch? Since you only have to pay $325 instead of $599, this iPad Air deal is expected to sell out fast—order yours as soon as possible.

Working hard? Here’s why it’s great.

If you’re lugging around your laptop everywhere you go, having an iPad for work can be a real back-saver. Maybe you’d use it to take notes or work on presentations—this model is compatible with the Apple Pencil and Bluetooth keyboards (sold separately).

Business owners might also love downloading point-of-sale apps or using a larger screen for social media marketing. You’ll have 64GB of storage to add whatever you need and a roomy 10.9-inch display with vivid colors to make work just a little less painful.

Hardly working? This iPad is a dream.

We can’t blame you if you want an iPad for reading, streaming in bed, or just playing apps. We all have a little bit of a kid in us. This model’s lightweight build of less than a pound makes it a great device for pretty much whatever you want, especially if you’re a traveler.

If you’re the type of person always on FaceTime chats, you’ll love having an iPad instead of your tiny phone. The tablet has 7MP front and 12MP rear cameras for high-def friends and family calls.

Don’t miss out on this refurbished iPad deal: $325 for a 2020 iPad Air in grade “A” condition (reg. $599). Limited quantities are available.

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With the turn of the calendar comes important personal health checks — the kind of things you do annually to make sure you’re staying on top of your well-being. It may be tempting to avoid these checkups. I mean, “If it ain’t broke, don’t fix it,” right? Yet, we don’t always know we’re “broken” until we look more closely. And we can’t get healthier if we don’t get checkups, set goals and work toward them.

Your entrepreneurial health matters, too. And while the hustle of running a business can cause you to overlook your entrepreneurial health, it’s critical. If you want to be successful and build a company that outlasts your leadership, you need annual checkups.

The goal is to build value within your company that prepares you for the future. This starts with yearly internal culture, personal and value checkups, which result in a process for short — and long-term planning that will set you up for personal, financial and business success. That’s why, each calendar year, I set three checkups in motion to ensure good entrepreneurial health.

Related: 10 New Year’s Resolutions Entrepreneurs Should Make Every Year

Checkup #1: People and culture

Every year, I send an internal survey to check the health of my company’s people. They are incredibly important to the company’s value. The survey takes about 20 minutes, and I use it to produce an employee satisfaction barometer so I have a true measure of the atmospheric pressure inside the business.

A highlight of this survey is that I ask them to rank 20 or so benefits in order of what they’d like to have included in their compensation package. Then, in the coming year, we provide all of the top five and most of the next five benefits. Benefits ranking #11 and #12 might be provided if certain key performance indicators are met in the coming year, and each employee can select the two most important benefits to them. It’s a way to understand what’s important to the employees overall while recognizing not every employee needs the same things from a benefit package.

Related: How to Master Your Strategic Planning As You Prepare Your Business for 2025

Checkup #2: Value

I also complete an enterprise value assessment each year, which helps me understand the value of my company if I were to sell it at that moment. A value assessment helps me identify areas in which the company has increased in value and where our opportunities for growth lie in the year ahead. It also helps me consider whether this year is the right time to sell the business.

For example, if my business is worth $50 million and my wealth gap — the amount of money I need to harvest to meet my personal lifetime wealth needs — is $25 million, it may make financial sense to sell, even if this won’t be my last business. For the clearest picture, I always recommend engaging a value advisor — one who is a Certified Exit Planning Advisor (CEPA).

Checkup #3: Personal

Of all the checkups, this is the most often overlooked, which is strange since the new year often brings a time of personal introspection. Let’s say your value assessment says that your company needs to enter a period of growth, and your advisory team is telling you that your market conditions are ripe for growth. That means your business will need an injection of cash and time. Is it the right time for your personal goals — as a parent, as a spouse — for you to invest further into your company? Both with time and money? If your personal goals aren’t aligned with where your business is heading, you’ll need to resolve those issues before you enter into any yearly planning process.

Related: Successful Entrepreneurs Use the Holidays to Reset–Will You Be One Of Them?

Processing your checkup, planning with a process

Once I’ve completed those three checkups, I’m armed with the right information to head into planning for the new year, as well as any longer-term strategy. The value and personal checkups help me understand whether or not my business is entering into a period of growth (or what I have to do to get it there) and if I’m preparing to exit my company. With that understanding, I can envision my short and long-term goals. Here are some things to keep in mind:

• Start with long-term thinking — three to five years out. Host a retreat to discuss the vision and path ahead with your company’s leadership, using the direction you have from your three yearly checkups.
• Then, take a step back. Together, develop a written plan for the next two years, including both strategy and financial goals. Don’t just include numbers — explain how you’ll meet those numbers. Give each department leader time in the retreat to explain to their fellow executives how they’ll meet those goals.
• Then, focus on the year ahead. Identify short-term goals, opportunities, threats, income-producing and value-producing strategies. Identify the themes within the plan. Do you need more technology? More strategic partners? Operational changes? If you’re planning an exit, how can you maintain or accelerate value quickly? This should be your most detailed plan — it’s the one you’ll start working toward when the calendar turns on a new year.

This time of year is always invigorating for me. Every new year brings unlimited possibilities that really excite my entrepreneurial spirit. Making sure I build a plan that stays true to what I discovered during my yearly checkups gives me the best shot at moving closer to my personal and business goals.

A government shutdown is just hours away and lawmakers are scrambling to come up with a plan. If Congress doesn’t agree on a measure, the shutdown goes into effect at 12:01 a.m. Saturday.

Each year, Congress must pass a spending bill to keep the government running. That’s supposed to happen by Oct. 1. Now, after continuing resolutions, Friday is the new deadline. Two measures have failed already.

Experts from EY tell Entrepreneur that a government shutdown could leave “a visible mark on the economy.”

“We estimate that each week of a government shutdown will cost the U.S. economy $6 billion,” says EY Chief Economist Gregory Daco.

What services would be affected by a government shutdown?

A government shutdown would put a stop to most government agency activities, including the IRS. Though TSA officers and active-duty military will have paychecks delayed, they will stay on duty, reports CBS.

National Parks and Smithsonian museums would close—just in time for the holidays.

How does a government shutdown impact the U.S. economy?

A very brief shutdown would have a “negligible impact” on the economy, though as time goes on it grows significantly.

On an annualized basis, a one-week furlough would cut $6 billion, or 0.1% off real GDP growth in Q4 (even though furloughed workers have always been paid retroactively), Daco says.

“The 35-day government shutdown in early 2019 led to rising policy uncertainty,” he added.

What services are not affected by a government shutdown?

Air traffic controllers, food safety inspectors, armed services, and the U.S. Postal Service would not be affected. Those services have separate funding, as does The Fed.

How many government shutdowns have there been?

There have been 20 shutdowns, with the longest being 35 days between December 2018 and January 2019. At that time, 375,000 federal government employees were furloughed and another 425,000 workers were required to work without pay, per EY data.

Life moves pretty quickly. And no matter what field you’re in, it’s easy to miss things. This is precisely why this AI-powered recorder can be an incredibly useful tool—and you can skip right to checkout to get it even faster.

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