Maybe you have a techie on your shopping list who could use an upgrade. Or maybe you need a low-cost, reliable laptop to take on the road. No matter who it’s for, you’ll pay a lot less than you normally would for an Apple machine.

For a limited time and with limited quantities, you can get your hands on a grade-A refurbished Apple MacBook Air 13.3″ for just $249.97 (typically $999). This means it should arrive in near-mint condition with only the possibility of light cosmetic blemishes.

Enjoy a crisp 13.3″ widescreen display with a 1440×900 resolution, perfect for presentations, video calls, or streaming on the go. And with a 1.8GHz Intel Core i5 processor, you’ll experience smooth performance for multitasking, browsing, and running essential applications.

Weighing in at under three pounds, this MacBook Air is designed to slip into any carry-on, backpack, or tote for easy travel. Plus, it boasts up to 12 hours of battery life, making it a perfect choice for long flights, busy workdays, or keeping up with productivity away from the desk.

This model comes equipped with 128GB SSD storage—enough to keep important files, presentations, and media in one place. The Intel HD Graphics 6000 ensures smooth graphics for video calls, streaming, and more. And you can stay connected no matter where you are with Wi-Fi capabilities, while Bluetooth support lets you transfer files seamlessly from other devices.

This low price makes the refurbished MacBook Air 13.3″ an outstanding gift for anyone who values quality tech, whether a student, frequent traveler, or team member in need of a reliable laptop.

Or, if you’re simply looking for a work-ready device that fits in any bag, this lightweight MacBook Air could be your perfect travel partner.

Get a grade-A refurbished Apple MacBook Air 13.3″ for just $249.97 (typically $999) while it’s still available.

Apple MacBook Air 13.3″ (2017) 1.8GHz i5 8GB RAM 128GB SSD Silver (Refurbished) – $249.97

Get It Here

StackSocial prices subject to change.

When I coach water polo, one of the first things I tell my team is, “Success doesn’t always end in a goal.” Players forget their fundamentals — not to mention teamwork and good sportsmanship — when all they think about is scoring. In the long run, this actually makes the whole team less effective. I want them to focus on the process instead of fixating on the end result.

The result doesn’t actually change my central responsibility as a coach. Win or lose, my job is still the same: to facilitate an open and honest analysis of what happened, including what went well and what didn’t. Winning a few games doesn’t mean the team is finished growing.

I take the same view when I mentor employees at FutureFund, my SaaS company that provides a free fundraising platform for K-12 schools. In either case, I’m pushing people towards developing expertise in their field — showing them how to find the wins and identify areas for improvement no matter what outcomes they achieve.

But expertise isn’t something that can just be given to you — it’s something you earn, which requires the ability to self-reflect. So, as a coach or business mentor, I don’t provide answers. Instead, I lead people toward finding answers for themselves.

That means my greatest tool as a mentor is the ability to ask questions. Here are the ones I find most effective.

Related: Be a Coach, Not a Referee — How to be a Good Mentor and Manager from a Coaching Perspective

“How do you think that went?”

This is one of the first questions I ask when I’m coaching or mentoring someone new. It shows me what a person is able to observe on their own.

Once I know what someone can see for themselves, I better understand the skills and knowledge they’ll likely apply to other endeavors. Let’s say a water polo player scores their first goal in three games — if they can’t tell me what they started doing differently, I have no way of knowing whether or not it’s a fluke. But if they can identify the tactics that helped them score, I know I can count on them to use them again.

Here’s another example: when I ask an engineer how fixing a bug went, they might tell me they think it was successful because the bug got fixed. But when I ask them if they went back and looked for the same error in other code, they often say no.

Again, results don’t always indicate progress. If you want a better idea of your capabilities, ask people to tell you about the journey they went on to achieve those results.

“What would you do differently?”

Once people understand how to assess themselves, you can encourage them to make positive changes. After I ask someone to reflect on their past performance, I always ask them to think about what they would do differently the next time a similar situation arises.

A player might know they were sluggish during a game because they slept poorly the night before — but why weren’t they well rested? Did they drink alcohol or stay up too late? If so, would they do these things again before the next game? What do they think might happen if they avoided drinking and got a full eight hours of sleep instead?

A mentor guides people through answering questions like this and helps keep them honest. Just remember, you don’t want to sound like you’re scolding, which makes people afraid of judgment and shuts them down. Mentorship is not about dictating actions; it’s about encouraging people to take ownership of their growth. That means you need to build trust with people so they feel comfortable opening up to you.

Sometimes, it’s helpful if a person’s mentor isn’t their direct supervisor but someone who can ask questions from an impartial place instead — like an outside consultant. But when you’re mentoring one of your own employees, I’ve found the best way to get an honest answer to this question is to demonstrate some vulnerability yourself.

Try leading by example. Share a story about a similar learning experience you went through so that they feel like you’re relating to them and not putting them under the microscope when you ask questions.

Related: Stop Trying to Manage Employees Without Understanding Them — How to Build Relationships for Leadership Success

“How have you changed over time?”

Giving instant feedback after a game or project helps people grow by reflecting on experiences while they’re still fresh. But you also want them to be aware of long-term trends in their development — so I always like to ask questions that make people think about their performance over time.

If we’re playing baseball and I give instant feedback every time a batter is up, they’ll grow — but I should also take them aside at some point and ask them to reflect on their previous 10 at-bats. This helps them spot patterns or habits that go beyond their actions during a single game.

This is also great for helping people recognize the progress they’ve made after months or years of growth. Some changes take much longer than others — like breaking lifelong habits, attitudes or addictions. Over time, it’s easy to get discouraged and feel like incremental change isn’t enough anymore — but when someone asks you to look back at who you were when you started, you get a much different sense of how far you’ve come since then. And that can inspire you to keep moving forward.

Mentorship is like that too — ideally, you evolve alongside the people you coach or manage. Keep learning how to mentor the people in your life effectively by learning about the different stages of mentorship in the article below.

Related: The Importance of Mentors

As the holiday shopping season approaches, usually lasting from November 1 to December 31, the question arises: how can you make the most of this period? Its peak will hit during the so-called Cyber Five, or Cyber Week, which may generate 16.9% of all holiday season revenue.

Let’s look at strategies that will help you get through this busy time and maintain a steady stream of conversions in the future.

Related: Boost Your Ecommerce Sales — 8 Proven Strategies for the Holiday Season

1. Keep healthy margins while customers save

Instead of offering blanket discounts, a tiered discount system that increases based on cart value encourages bigger purchases. Offering various discount levels motivates customers to spend more to maximize their savings, which boosts the average order value (AOV).

For instance, offer 10% off a $50 order, 20% off $100, etc. By layering upsell opportunities on top, the sale of high-margin products reduces the effect on overall profits. For example, show clients complementary items to raise the total order value, like adding a phone case to a smartphone to reach $500 and unlock a 15% discount. This spreads the discount across products, balancing costs while customers enjoy the savings.

Another approach is to sell high-margin bundles with small discounts. Offer complementary or related items to the main product so that the customer reaches a specified order value to receive a discount. Customers perceive they are getting a deal, but higher-margin products help balance the cost. Last but not least, use your shoppers’ behavioral data to offer real-time incentives. For example, you can set up a personalized pop-up that appears after a user views several products, suggesting orders over $100 to receive a 20% off coupon for their next purchase. This keeps current margins reasonable while encouraging repeat purchases.

2. Incentivize with exclusive offers beyond early access

Offering early access to BFCM can drive sign-ups, grow your subscriber list and lower customer acquisition costs. Greater value from early access motivates a prospect to convert into a customer when the sale starts and maintains customer loyalty. You’ve got a win-win situation:

• Customers are more likely to get the items they want without encountering ‘sold out.’
• You will spread the traffic on your website.
• Your brand benefits from increased engagement, which can transform into loyalty.

Early access is a strong draw on its own, but you can further incentivize sign-ups with extra benefits. The average cart abandonment rate is 82%, with 62% of consumers citing high shipping costs as the main reason for this. The higher the order value, the less willing people are to pay for delivery: 19% won’t pay for a €15 order, 27% for €50, and 35% for €150. A strategically timed pop-up offering free shipping on orders over a specific threshold, shown when a shopper is about to exit, can be both cost-effective and highly enticing for customers.

Besides, offering early Black Friday access to your most active customers or loyalty members strengthens relationships with your highest lifetime value audience. The sense of exclusivity and urgency will encourage your consumers to take advantage of a ‘not for everyone’ offer as soon as possible. An example of this approach is the LEGO or Sephora Insiders programs.

Related: How to Attract Higher-Quality Customers

3. Gamified shopping: excite visitors and drive more conversions

Gamification adds interactivity and a sense of reward to the buying process, increasing engagement and encouraging visitors to spend more time on your site. Winning discounts, gathering loyalty program points, or participating in challenges enhance conversion rates, raise AOV and reduce cart abandonment.

Gamification is about adding game-like elements to the traditional buying process. A common example of ecommerce gamification is a pop-up wheel of fortune. Claspo data shows that the Spin the Wheel pop-up has a 41% higher conversion rate than countdown timer pop-ups. You can assign various incentives to the wheel sectors, such as discounts, free shipping, gifts or festive packaging. With an advanced reward management system, you can set winning probabilities for each incentive — for instance, 55% for a 10% discount, 30% for a gift, and 15% for free shipping — allowing you to manage your prize pool effectively within your budget.

This interactive element keeps shoppers engaged, while the uncertainty of the reward increases the excitement of their inner achievers. As an advanced tactic, behavioral data can be used to trigger pop-ups only when needed, when users are about to exit or leave the cart, motivating them to complete the purchase with a special discount.

Related: 7 Ways to Boost Customer Retention Through Email Gamification

4. Flash deals and countdown thrills: create FOMO

Black Friday is already a time-limited event, but you can trigger FOMO with flash sales. The highly limited time of such promotions creates a sense of urgency and scarcity among consumers, pushing them to make immediate purchasing decisions. This approach is effective for generating excitement around high-demand products and clearing seasonal inventory.

Flash sales trigger FOMO, which is a strong psychological motivator, and push browsers to make immediate purchase decisions. Timed promotions or hourly flash sales encourage consumers to check your site throughout the day to catch the latest deals. Also, you can introduce a mystery quick sale by keeping the assortment secret, which is particularly powerful during BF when shoppers expect limited-time or exclusive deals.

Before the sale, encourage visitors to leave their email to get notified first, and during the event, display a pop-up with a timer to notify them about the ongoing promotion and countdown to its end. Our clients have found that pop-ups with timers and appealing offers can increase conversion by 112%. As an advanced tactic, A/B testing can be used to identify the most effective times for flash sales based on customer engagement data.

5. Put user experience first

With 48% of consumers thoroughly researching products before purchasing and 62% of consumers saying they are more likely to buy a product after seeing them, accessibility of information is key. Enhance product pages with user-generated content like customer images or videos from reviews and social media. Notably, this type of content is often missing on many sites, so there is potential for growth and conversions.

Another way to enhance user experience is by using informing pop-ups, especially for new visitors. For instance, if your Black Friday deals are limited only to specific products, a pop-up or a sticky bar to inform users about the promotion ensures shoppers don’t miss out. One of our clients found that pop-ups promoting sale items increased cart additions by 15% and boosted sales by 19%.

Essential last-minute tactics

Small actions taken early can drive big results, and the impact will carry throughout the holiday season. Ideally, Black Friday preparations would have started in the summer, but there is still some time to get things moving. Data by Google shows that by December, shoppers complete less than half of their planned holiday purchases, meaning there are still opportunities to capture additional sales, even after BFCM. Capture first-time buyers with early bird access, retarget shoppers who showed interest but didn’t convert with gamification, and engage returning visitors with exclusive deals.

You might think you need to hire a team of developers for your budding business, but did you consider how expensive that might be if you’re a new entrepreneur? Instead of hiring programmers, it might be smarter to learn to code yourself—a McKinsey study found that tech-savvy entrepreneurs have a 33% higher chance of securing venture capital funding.

While you can teach yourself how to code, it’s helpful to have assistance from time to time, especially if you’re coding an app or website for your business. That’s where Microsoft Visual Studio Professional 2022 comes in. This Microsoft app is designed to help you code more efficiently and minimize errors. Check out now to get lifetime access for only $27.97 (reg. $499) until the end of today.

Microsoft Visual Studio Pro: Your coding assistant

It might seem daunting to code on your own, but you could prevent future coding typos since Visual Studio Pro offers features that could eliminate those problems. It colors and highlights variable names, making them easy to spot and correct before moving forward in your programming.

Running into issues with completing your blocks or lines of code? This software comes with IntelliCode, a tool that intelligently understands your code (variable names, functions, etc.) to offer suggestions when you’re stuck. If you like its option, you can click auto-complete or browse other next-best coding suggestions.

Ready to code like the pros do? Head directly to checkout to make Visual Studio Pro yours.

Entrepreneurs that have this app in their toolkit can also:

• Build, debug, and test your .NET and C++ apps in Linux without exiting Visual Studio.
• Code once and craft cross-platform mobile and desktop apps with .NET MAUI.
• Use Blazor to create highly responsive web pages and edit them in web designer view while they’re running with ASP.NET.

If your business does have a tech team, this tool can help entrepreneurs communicate with and manage them better. You’ll see exactly what your development team has coded, as the Live Share feature lets you track your team’s programming’s recent changes, authors, and commit history.

Check out now to grab Microsoft Visual Studio Pro for Windows, now just $27.97 through the end of today, November 21, at 11:59 p.m. PT. Act now while supplies last!

Microsoft Visual Studio Professional 2022 for Windows

Only $27.97 at Entrepreneur

StackSocial prices subject to change.

Want to apply for a job at the new Department of Government Efficiency headed by Elon Musk and Vivek Ramaswamy? The process is selective and the pay is nonexistent, but the big-picture payoff could make getting involved worth it.

President-elect Donald Trump created the new Department of Government Efficiency earlier this week and placed Musk and Ramaswamy in charge. The two are tasked with cutting government costs and excess regulations by July 4, 2026.

Related: JPMorgan Chase CEO Jamie Dimon Says Bankers Are ‘Dancing in the Street’ Following Donald Trump’s Win

Though only days old, the department said in a post on X that it has received interest from thousands of people who want to help it achieve its objectives. The interest was noticeable enough that DOGE had to clarify what it was looking for from applicants, including that Musk and Ramaswamy would be reviewing top applicants themselves.

“We don’t need more part-time idea generators,” the department posted on X on Thursday. “We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting. If that’s you, DM this account with your CV. Elon & Vivek will review the top 1% of applicants.”

We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE. We don’t need more part-time idea generators. We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting. If that’s…

— Department of Government Efficiency (@DOGE) November 14, 2024

However, after Musk pointed out some hard truths about the open jobs, the massive interest in the roles may begin to wane.

“Indeed, this will be tedious work, make lots of enemies & compensation is zero,” he wrote in a post on X.

Though it may seem surprising that the jobs within DOGE are unpaid, uncompensated work to get a foot in the door is common. Nearly half of U.S. interns (47%) were unpaid in 2022 and some federal internships are unpaid.

In another post, Musk highlighted an upside to working for DOGE: The benefit that DOGE employees would bring to the country.

“Even a brief stint in government by people with high competence and integrity would greatly help America,” Musk stated.

Related: 3 Major Reasons Why Donald Trump’s Second Term Will Benefit My Business and Increase Profits

DOGE has to help the Trump administration downsize government bureaucracy, remove unnecessary regulations, and cut wasteful government spending — all in less than two years.

Ramaswamy and Musk are planning weekly livestreams, called “Dogecasts,” to update the American people on DOGE’s progress.

The countdown to 2025 has started—are you prepared to leverage the most powerful AI trends of the year?

The AI trends that are set to reshape your business in 2025 are here—and most entrepreneurs aren’t even aware of them yet. From AI agents automating workflows to the evolution of search engines, these changes will redefine how you market, create content, and interact with your customers.

In this video, I’ll reveal the game-changing AI trends that will alter the landscape of business. Don’t get caught off guard—watch to discover how to stay ahead of the curve, protect your brand, and unlock new opportunities for growth.

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

Maximizing productivity should always be a top priority for business owners, but trying too hard to micromanage every inch of your operations can actually do the opposite.

Systems within a business have to exist to ensure it functions smoothly — from having a daily structure to setting meeting agendas, establishing company values and setting hiring criteria — without them, enterprises can implode.

Time tracking is a prime example of a system employers use to improve staff productivity by increasing self-awareness, encouraging accountability, minimizing time wastage and maximizing profit.

The growing demand for time-tracking software, resulting from the rise of remote work, could put the market for this technology at an estimated value of $31.88 billion by 2028.

But it’s not all positive. While time tracking may seem like a smart business move, it certainly has its downsides if not used carefully.

Trust is everything

What separates good leaders from great leaders is their ability to offer guidance, resources and support to their team. At the same time, they need to allow employees the space to manage themselves.

A healthy working relationship between employer and employee relies heavily on having a strong sense of mutual trust and a relatively balanced power dynamic. Time tracking to monitor staff input and output can blur the lines if clear expectations aren’t set.

Asking staff to record every minute of their working day can leave employees feeling unnecessary pressure and as if they aren’t trusted to do their jobs. When employees don’t feel trusted, trust has the potential to be broken both ways.

Chaining people to their desks

Over the past few years, the importance of having a healthy work-life balance has been stressed more than ever. The fact is, people work better when they have time for things that don’t revolve entirely around work.

As a manager, being too nit-picky about the hours an employee logs in their time tracker each day can cause real problems.

Staff are humans, not machines — they need toilet breaks, coffee runs, time off for personal appointments and an early finish every now and then.

Time tracking often ignores these crucial elements of a working schedule. It can even cause employers to penalize staff for not spending a certain amount of “profitable” hours at their desks. The bottom line is this is completely unrealistic.

Related: The Importance of Striking the Right Work-Life Balance

Privacy concerns: Is it unethical?

Then, there are the big concerns around surveillance.

Not only can there be legal requirements for monitoring staff productivity, but the morality of following a person’s every move must also be questioned.

People come to work to do their jobs, make money to live and reap the rewards of their efforts during their downtime. What they don’t want is to feel like they are constantly being watched or waiting to be criticized for not working hard enough.

Excessive supervision can be a huge demotivator for employees. It can cause them to question what other activities are being monitored themselves, which can lead to serious conflict.

Related: It’s a Job Seeker’s Market — Here’s Why Employers Should Think Twice About Using Surveillance Technology

Tricking the system

When employers are too strict about how their staff uses time-tracking software, it leaves room for deception. This is even more true with the increase in people working from home.

If you are not sitting in the office and physically monitoring what employees are doing, there is no way to tell if they are actually doing the work. Your marketing manager could have their time tracker running on a client job while lounging on a beach in an entirely different country. You could be none the wiser.

This is where it comes back to the trust factor. If employees feel too constricted by the pressure to make every second of work count, they might be more inclined to cut corners.

Don’t overcomplicate success

There is a common misconception that tracking your employees’ every move will allow you to determine exactly how much value they add to your business.

However, the reality is that there is no way to 100% accurately measure a business’s success with this software. The key thing to remember here is that there is a distinct difference between productive and profitable.

Take staff meetings, for example. They might not generate income directly, but they are necessary to keep your team up to date, moving in the right direction and on the same page. Without “non-billable” activities like these, a business can’t function effectively. The same goes for client prospecting or networking – the success of these interactions is too complex for time-tracking software to measure.

Related: Defining Success: 4 Key Measurements That Go Beyond Revenue

Food for thought

While I am in no way suggesting business owners rule out time-tracking software completely, as you can see, there is a lot to consider.

If you choose to use these systems in your workplace, it’s paramount that you find a way to use them that doesn’t restrict your team’s ability to do their job — or backfire.

Transparency is everything. Let your staff know exactly how time tracking will be implemented and monitored from the start, and allow them to raise any concerns they may have. It’s also a must to regularly review what is and isn’t working.

And if you think time tracking isn’t the right fit for your business, there are plenty of other, more traditional ways to measure its success without it.

Want to start a side hustle? More than half (54%) of Americans already have one, according to research from MarketWatch, but choosing one out of so many options can be overwhelming.

To keep it simple, plenty of side hustlers capitalize on skills they already have: cleaning, furniture assembly, TV mounting and just about anything in between.

Related: This Former Ph.D. Student Started a Side Hustle to Graduate Without Debt — Now He Makes $30,000 a Month and Can Complete a Job in 15 Minutes

Of course, starting a business from scratch isn’t easy, which is why many gig workers use third-party platforms, such as Thumbtack or Taskrabbit, to market their services and connect with customers.

Entrepreneur spoke with three people who built successful side hustles with Taskrabbit: Tom Saar, a former Starbucks employee with a moving business; Emely Cepeda, a dental student who offers cleaning and organizing services; and Dan Weiss, a retiree who assembles furniture.

Related: How to Start a Multi-Million Dollar Company, According to an IBM Engineer Turned Founder

Read on to learn more about their journeys and secrets to success on the platform:

Tom Saar runs a moving business with Taskrabbit

In late 2020, Saar moved from Sweden to the U.S. to pursue a computer science education. Saar settled in New York City and immediately noticed the abundance of moving trucks. After some research into the moving process revealed common pain points for customers, Saar saw an opportunity to start a business that did it better.

Related: This Former Starbucks Employee Started a Side Hustle That’s Making More Than $70,000 a Month — and He’s Not Done Yet

Saar joined various gig platforms to offer his moving services to customers, but Taskrabbit proved particularly lucrative: As of June 2024, Sarr had completed more than 1,000 tasks on the platform in partnership with other taskers and earned over $70,000 in gross revenue during April alone.

Saar’s success tip: “Communication with your clients should be high on the list of things to become more effective at. Clients don’t want to be kept in the dark. If you’re running late to an appointment, keep them informed. If something goes wrong, be generous with refunds or compensation. This builds strong customer relationships. Lastly, don’t be afraid to fail. Failures are inevitable, but how you take responsibility for them and learn from them will set you apart and help you grow.”

Emely Cepeda cleans and organizes with Taskrabbit

Cepeda was in her second year as a full-time dental student when she started looking for ways to earn extra money — and found Taskrabbit in August 2022. She wanted a gig that was flexible and without monthly quotas so she could focus on her courseload, and the platform provided just that.

Related: This 26-Year-Old Dental Student Spent $25 to Start a Side Hustle That Can Earn $500 for Just a Few Hours of Work: ‘There Is Nothing More Satisfying’

Cepeda launched her side hustle offering cleaning and organizing services on Taskrabbit. As of August 2024, Cepeda had earned more than $1,300 in one month with the side hustle — and as much as $500 a day for just a few hours of work, averaging $576 a month.

Cepeda’s success tip: “You can make a ton of money on Taskrabbit if you make the time and put in the work, like I have. I tend to work a lot around busy times of the year, too (like September move-ins, holiday seasons, etc.) because the need for Taskers is higher (and therefore I make more). Use your time and resources wisely, and you will be set up for success in the long run. Capitalize on the time you have and make the tasks you take worth it.”

Dan Weiss assembles furniture with Taskrabbit

Dan Weiss, 79, managed a number of residential mortgage branches for a major bank before he retired. When he read a newspaper article about a young woman making money on Taskrabbit, he was intrigued and decided to start a side hustle assembling furniture on the platform.

Related: This 79-Year-Old Retiree’s Side Hustle Earns $4,000 a Month: ‘I Work as Much or as Little as I Desire’

It took about four or five months for Weiss’s Taskrabbit side hustle to become profitable, but as of October 2024, he averaged $4,000 a month on the platform — all while working as much or as little as he desires.

Weiss’s success tip: “Be patient. Treat your clients with respect. Set your pricing according to your experience and customer base. Finally, do superb work and be respectful and caring.”

Expanding your franchise concept internationally is a challenging decision. It can offer tremendous growth opportunities beyond your current home market. However, doing so prematurely can put undue stress on your system as you try to replicate your U.S. operations for a culturally different demographic while also managing domestic expansion and support.

Before expanding to new international markets, ensure that your business concept is thoroughly developed, all intellectual property is registered and trademarked, marketing materials and manuals are translated, and you have a local team available in the targeted markets to assist with launching and troubleshooting.

Inexperienced franchisors should avoid rushing into international expansion without conducting thorough research and laying the proper groundwork. International units can be more challenging than domestic ones due to travel distances, language barriers and cultural differences. It’s essential to ensure that your products or services are needed or wanted in your target international market.

So, if it’s this challenging, why not just stick with growing domestic units and skip the international headaches? For one, the ability to introduce your products or services to new, untapped markets can be a significant revenue boost, especially if you’re running out of territories to develop domestically. Another plus is that many foreign consumer markets are eager for U.S. concepts. Best of all, American franchises are usually viewed as sound investments because of the proven systems and training they offer.

Related: This Industry Is Making More Money Than Hollywood and the Music Industry Combined — Here’s How Your Business Can Get Involved

Successful franchising always depends on tapping into expert advice and assistance, but nowhere is that more important than expanding into international markets. You need to engage with franchising and legal experts who specialize in international franchising and have knowledge of the countries you’re targeting. They will have a network of colleagues with intimate knowledge of the laws, regulations and political and business climate of the markets you’re exploring. Before you invest in an international program, these experts can help you narrow down the countries or regions where your concept will work.

Some other key considerations for international franchise expansion include:

• The all-important political and economic stability of the target county.
• The country’s franchise regulations or laws. Most countries have some form of business regulations to protect their citizens, but only a handful have specific franchise registration requirements that must be complied with.
• Assess the relative ease or complexity of bringing products into the country. You’ll need to set up appropriate logistics for certain proprietary items to get them there. Or, if you plan to source products locally, you’ll need local connections to help establish a reliable local supply chain.
• How the royalty and ad fund fees will be transferred back to the U.S. in an efficient manner. Remember, you’ll also be dealing with an exchange rate, transfer fees and local banking regulations.
• Being able to find the right partners who are financially equipped to expand your concept beyond one unit. Several different legal structures can be used, from directly granting a franchise to an individual or group to setting up a separate entity via a Master Franchise Agreement for each country, where your master franchisee grants the rights to individual franchises and supports those local franchise units.

  Once again, this is where your trusted advisors can advise you on the best structure for your concept and the country it’s in. Getting to know your partners is essential. You need to be comfortable with them as people and well-informed about their other partners and businesses they may own. Both parties need to follow transparency laws that require disclosure of all entities they are associated with, their owners and the people making the decisions. You need to know where the money is being invested in your concept.is coming from.

Side note: It also goes without saying that the same due diligence and expert support are needed when a concept comes from another country or region to the U.S. as they are for U.S.-based concepts going abroad. International franchisors will also need to find trusted local franchise advisors and lawyers to help them transition from a national or regional concept to an international one as they enter the U.S. market.

Where to expand first?

Canada has long been the first choice for many U.S. franchisors’ international expansion because of its proximity and because English is the first language for most of the country. But don’t be fooled into thinking Canadian culture and business environment don’t differ from the U.S. Similarly, Mexico is often the first foray for U.S. franchisors looking to expand into Latin America due to its geographic proximity, but language and cultural differences also abound.

For example, let’s say you’re expanding your concept to Latin America; not only does the Spanish in that region vary across countries, but it’s also important to be aware that Spanish is not the only language spoken in the region. In fact, in South America alone, the number of Spanish speakers exceeds that of Portuguese speakers by just a few million people.

Another example is that a franchisor looking to expand in the European Union cannot assume that a single approach fits all 27 member countries. In fact, the region has 24 official languages, and each country has its own culture and governing rules.

So, as part of the planning for international expansion, when preparing both your documents and your training materials, don’t rely on your high school foreign language skills or Google Translate. Not even the latest in AI is likely to be fully reliable in this case. This is when utilizing actual human resources in each market you’re expanding into is critical. They will know the regional vocabulary and the idioms used so that you don’t include embarrassing mistakes in your materials. The extra step in doing so is also a sign of respect; it shows you are culturally sensitive and professional.

Related: Tips and Strategies for Navigating Cultural Differences in International Business

It’s a small world

With advances in technology, including video conferencing, messaging apps, AI-powered communications tools, and more, the world is getting smaller, and the ability to bring services to people beyond your borders is, in many ways, easier than ever. There is financial as well as personal gratification in bringing your business to another culture, but it comes with an all-in investment of time and resources to do it right. International development is not something you can dabble in; it is a serious commitment.

Of course, as we’ve always been told, nothing worthwhile comes without hard work. That hard work must be supported by a team of experts, both internal and external to the franchisor organization, who can effectively implement a well-thought-out international game plan.

Everyone knows who Mike Tyson is. After all, he is a boxing legend. His mindset of determination, mental stamina and adaptability is a blueprint for business success as well as boxing. That’s why I’ve adopted his principles for my business.

Understanding how to use the same discipline, focus and resilience as Tyson can transform your business and give it a competitive edge. It did for me.

Related: 4 Things Entrepreneurs Can Learn From Mike Tyson

1. Focusing on the goal

Tyson was laser-focused on his goal to become the youngest heavyweight champion in the world. That and discipline led him to dominate the ring.

Focus is important to long-term business success. Entrepreneurs are constantly distracted by challenges and opportunities. Clear vision is necessary to ensure every decision, big or minor, gets you closer to your goals. Every aspect has to contribute to the bigger picture.

Focus makes it easier to ignore the noise and focus on what is important to your business’s success.

2. Thriving under pressure

Knowing how to thrive under pressure is as important to a business leader as it is to a boxer. Tyson adapted in the ring when the challenger put him under pressure. He faced unexpected moves but learned how to change his strategy to turn the match in his favor. It was a strength in his career.

Business leaders get into a rut of thinking there is only one way out of a situation when there are many. Look at all your possible strategies and change course.

Running a business has many hidden challenges and unforeseen events. Pivoting keeps you competitive. You must remain flexible in adopting and changing strategies, especially when what you’re doing isn’t working. Tyson is an example that survival and success come to those who are agile and change course when needed.

3. Turning a setback into a comeback

No one successfully avoids all setbacks. Tyson faced financial troubles, public backlash and personal problems that could have ended his career. He always found a way to rise when knocked down, both in and out of the ring. Resilience is what defines legendary boxers and entrepreneurs.

Businesses will go through various types of failures. It’s inevitable. A deal may fail or a strategy may not work. It can feel like everything is crumbling and your world is crashing. Yet, you can turn every setback into a comeback. It depends on how you view failure.

Failure doesn’t equate to an ending. It gives you a chance to learn and improve. You can come back with a better strategy. Being able to push through tough times is just as important as winning.

You can turn your failure or setback into a strength. It’s a matter of changing your perspective to see how it can ultimately benefit you. Once you do that, you can turn that into messaging that promotes your comeback.

Related: Your Lowest Moments Can Pave the Way for a Creative Rebirth. Here’s How to Master Setbacks.

4. Developing mental strength and discipline

Every success starts with the mind. Tyson has great physical strength. He was formidable in the ring. Yet, it was his mental strength that gave him the edge. He was dedicated to training, and that discipline, which starts with a mental decision, made him different from competitors.

It takes consistency and discipline for a business to push through difficult times. It may seem like nothing is working, but the decision to never give up and keep going until you see results will give you long-term success. You must stay mentally sharp, and I do that by creating daily habits that lay the foundation for my vision.

One habit that has helped me is to think ahead about my reaction to all the different scenarios that can occur in a specific situation. I imagine my plan B, C and D. I practice what I would say. The scenario may never happen, but I’m ready to react quickly if it does.

5. Believing in your strengths

Tyson knew he had all the abilities to win the match. He understood what they were and how to use them in the ring. Business leaders should also know their unique strengths and have the confidence to use them. Your strengths set you apart. How you leverage them to build your business depends on your confidence and creativity.

You may need to think outside the norm to figure out how to use your strengths to the biggest advantage. It may take a few experiments to find out the best way to use them. That’s okay. Tyson didn’t get the right strategy out of the gate either.

Playing to my strengths has been pivotal in my business. Identifying what I do best and honing those gifts helps me stand out in a crowded marketplace. Like Tyson, I don’t try to be like everyone else but focus on what makes me unique. I have skills and talents others don’t and consistently work to build my business around my core strengths.

6. Pursuing opportunities without fear

Tyson faced older, stronger and more experienced opponents when he started his career — yet, he was fearless. He drew courage from his belief in his abilities. Business leaders need fearlessness to pursue opportunities. Fear of failure can hold you back because it prevents you from taking a risk that could be a great catalyst for your business.

You can’t accept every risk. Every risk must be calculated and evaluated. Tyson evaluated the risk and made strategy decisions based on the perceived reward. I do the same whenever I face a bold decision. That helps me approach every decision with confidence and faith that it will work. You can win in business, but only if you step into the ring.

Related: 8 Sources of Strength Powerful Enough to Overcome the Fears Holding You Back

Mike Tyson’s attitude offers lessons to those seeking to improve their businesses. His mindset, emphasizing focus, discipline, adaptability, resilience and courage, can help every business leader. That mindset helps me set daily business goals. These attributes help me establish habits that make for a knock-out business strategy.