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Opinions expressed by Entrepreneur contributors are their own. Businesses, especially startups, are characterized by uncertainty. From the viability of a business idea to investors' decisions, as well as how users would respond to your latest product feature, you're never exactly sure what's coming. Externally, political, technological and competitive uncertainties are causes for worry as well. Studies have shown that uncertainties are constant in entrepreneurship, and a leader's ability to tolerate and manage them will greatly support the success of their venture. However, repeated exposure to high levels of uncertainty can send entrepreneurs into an emotional rollercoaster that could affect their self-image. Early-stage and first-time founders run greater risks of being broken by the twists and turns of rapidly changing business environments. More fascinating, though, is that some — especially serial entrepreneurs — are hooked to the uncertain...

Opinions expressed by Entrepreneur contributors are their own. I had no intention of creating my own software company. I was kind of forced into it. You see, a few years ago, I was a full-time YouTuber. All was well until my channel got demonetized. This means that I was making $0 from the ads being placed on my videos. There was a point where I was getting 2-3 million views a month on my channel and didn't receive a penny. As a way to bounce back from this low, I decided to put my life savings ($5,000) into starting a creator economy software startup at 19 years old. I dropped out of college to work on my SaaS startup full-time, and I have learned valuable lessons along the way. Here are five of the most important lessons I have learned so far: Related: How to Start and Grow a Business: A Digital Guide for Young Entrepreneurs 1. Done is better than perfect I had no experience in coding — let alone creating and growing a startup. Despite these challenges, I ...

Opinions expressed by Entrepreneur contributors are their own. Times are tough; there is no doubt about it. Just as we thought we were "done" with years of stress from the pandemic, we are faced with daily worsening news about inflation, the war in Ukraine, climate change and an imminent predicted recession. However, it is possible to take these things seriously, make appropriate life adjustments, ignore the negative energy they can bring and keep our hope. How can we do that? From my experience, here is how people have not only survived extreme stress and disruption, but thrived because of it. We can all foster these characteristics in our friends and family, celebrate them in our colleagues and, most importantly, emulate them. Related: Having A Work-Life Balance is Nonsense. To Reach Your Goals, Follow Another Approach 1. A higher purpose or cause John D. Rockefeller once said, "If your only goal is to become rich, you will never achieve it....

Opinions expressed by Entrepreneur contributors are their own. The coaching industry is growing exponentially across the globe. According to ICF , the size of the coaching industry can be estimated at over $2B USD already. Such interest is not surprising, as coaching is directly tied to clients' growth, with studies measuring coaching as producing 200-500% ROI and a survey of 100 executives showing that the average ROI of executive coaching was nearly 600% of its cost. As a coach, you are certainly glad to see such growing interest in coaching and the validation of the value your line of work brings. 1.5 million searches are made every month by people and companies looking for life coaches, business coaches and executive coaches. And yet with growth in demand, there is certainly an exponential growth in supply. On LinkedIn alone, between 2020 and 2021, the number of executive coaches increased by 1,092%, the number of business coaches increased by 2,220%, an...

Check out episode three of the new season of Entrepreneur Elevator Pitch . In each episode of the show, entrepreneurs are challenged to step into an elevator and pitch their business on camera to a board of investors in 60 seconds or less. If the investors like what they hear, the elevator doors open to reveal the boardroom, and contestants have the chance to walk away with life-changing funding, mentorship from the smartest minds in business and a personal and brand-defining moment. Related: What Do You Do When an Investor Suddenly Changes the Terms Mid-Deal? Episode 4 Entrepreneur Elevator Pitch board of investors: Episode 4 Entrepreneur Elevator Pitch contestants: Shawn Moye, founder of Moye Group , a sports e-trainer that coaches perfect form in basketball and other sports Karen Frame, founder of Makeena , an app that helps shoppers find deals on healthy, sustainable food Loren Flason, founder of Vetchup, a healthy line of flavorful condi...

Opinions expressed by Entrepreneur contributors are their own. Starting a business can be one of the most exciting and rewarding things you'll ever do. The process has its challenges, but it's important not to let misconceptions about them stop you from trying. In this article, we'll go over seven common misconceptions about starting a business. Misconception 1: You don't need a business plan. There are a lot of misconceptions about starting a business. One of the most common is that you don't need to write a formal business plan. It's easy to understand why this would be so — after all, who has time for more paperwork when you're trying to keep things going as efficiently as possible? The problem with skipping the planning stage is that it can lead to wasted time, money and a poorer product or service than what you could have created. An example of this is advertising: many start-ups spend thousands on ads without thinking through th...

Opinions expressed by Entrepreneur contributors are their own. We live in a time where ideas can become businesses at an unprecedented rate. It has never been faster to have an idea, file for a name, quickly get a logo and business address and move on with that idea. This ease of entry, plus the aftermath of the Great Resignation, "Quiet Quitting" and turbulent market disruptions led our economy to a proliferation of new businesses and startups, many of which are small and agile enough to succeed where larger companies would fail. However, that is not without challenges, as startups are under immense pressure to succeed. They must gain traction and prove their worth to investors while maintaining a sense of normalcy and momentum. However, with new startups, many induce self-inflicted problems in the ramp-up to launch and scale. We've all seen it — the entrepreneur or founder that agonizes over every decision tries to do everything themselves and wa...

Elena Rosa is a Los Angeles-based artist who wanted to create a lesbian story world where people of all genders, sexualities and identities could learn about lesbian bar history. She drew from photographs, writings and interviews with former bar patrons and bar owners to bring L-BAR to life. Rosa sat down with Jessica Abo to talk about her interactive online bar and salon, and her advice for anyone trying to create a sacred experience. Jessica Abo: You've spent years working as an actor and artist and say you're really passionate about creating different worlds. What is it about creating environments that lights you up? I love building environments. I like thinking about our architecture and how that frames our identity. I have a particular fascination with Byzantine churches, the way the masses can walk into this dome, this heaven on earth and everyone has one focal point. Straight ahead is the focal. It's one truth, one belief. And if you look to th...

Entrepreneurs can be impatient. When we have a great idea, we want to make it happen now . But I've learned that patience — taking time to convince resistant customers, or to prove your concept to dubious investors — can create an outcome much truer to your vision. Courtesy of White Noise Coffee Company Seven years ago, I began trying to open a coffee shop in New York City. I had long worked as a barista, and imagined a café that treated coffee like a performance — the bar acting as a stage, where baristas would pull the espresso shot, weigh it, and heat it to a precise temperature, all while telling the origin story of the beans. I wanted the shop's sounds and smells and visuals to envelop each customer. I'd call it White Noise Coffee Company . https://www.tausiinsider.com/no-one-would-rent-me-a-cafe-in-trendy-nyc-neighborhoods-so-i-tried-something-risky-now-i-have-thr...

Opinions expressed by Entrepreneur contributors are their own. Many people that I meet tell me that they dream of starting their own business. I always ask them, "Then why don't you?" They typically respond by saying that they have so many financial and personal responsibilities, that they can't just quit their job to start a company, etc. Then I tell them my story ... Hero Images | Getty Images Related: How to Use Your Current Job to Start Your Next Business https://www.tausiinsider.com/why-you-should-start-a-business-only-while-you-have-a-job/?feed_id=332552&_unique_id=645fbec657000

Opinions expressed by Entrepreneur contributors are their own. Whether you are working 40+ hours a week or building your own company, having a good work/life balance is extremely important. Sure, having a lot of money is fun, but if you are always tired and never get to spend time with your friends and family, is it really worth it? While starting your own business is certainly a rewarding experience, not taking the time to enjoy yourself outside of your work can take a huge toll on your physical, spiritual and mental health. So, if you find that you're constantly buried in your work, it's important to step back and consider the areas of your personal life that you may be neglecting. Here's how I was able to build a healthy social and dating life while growing my startup — and how you can do it, too. Related: How to Be an Entrepreneur and Have a Life! The importance of balance At the beginning of 2020, I decided to put my entire life savings into sta...

Opinions expressed by Entrepreneur contributors are their own. With an eye on the next big thing and an insatiable appetite for success, entrepreneurs are a special breed. They're also willing to take risks, experiment with new ideas and give it their all in pursuit of their dreams. But what is it that separates these people from others? Do they really seem so out of touch? Here are the four key characteristics you need in order to become a successful entrepreneur: 1. Grit Grit is defined as persistence and resilience. It's the ability to persevere through tough situations and bounce back from failures. Many people believe that working hard will inevitably lead to success. There is, however, a catch: You have to remain focused on your goal regardless of the obstacles you encounter. You need grit so you can keep going even when it seems like there are no options left for you. Unlike other forms of intelligence, grit is a trait that can be learned. It'...

Opinions expressed by Entrepreneur contributors are their own. According to FRANdata , an average of 250 new franchise brands have launched every year in the U.S. since 2001. That's as many as 5,250 brands launched over the last 21 years. Yet in 2022, FRANdata counted only 4,000 total active franchises — up from 3,000 in 2010, which was flat also at 3,000 back in 1990. So, where did all those emerging brands go? The fact that several thousand brands stopped actively franchising doesn't mean those companies failed or closed down. Some switched back to a corporate model, were acquired and re-flagged by competitors, or stopped adding new franchise units. Their franchising efforts went from "active" to "inactive" while the business entity itself carried on. And yes, some emerging franchise brands also failed. Franchisees who thought they were joining something destined to become bigger were sorely disappointed. A cottage industry of enabl...

Opinions expressed by Entrepreneur contributors are their own. After two disruptive years in the real estate market, we are all eagerly looking forward to 2023 and hoping that it will bring some much-needed respite and calmness. The good news is that experts generally agree that next year will witness a shift from the red-hot seller's market to a more neutral one. This means that property prices and mortgage rates will stop climbing at their currently steep rates. Nonetheless, those who wish to find profitable investment opportunities in 2023 will still need to deal with the consequences of 2020-2022 trends. Specifically, home values and mortgage interest rates will remain relatively high and regional shifts will continue. Here are four easy steps that investors can take now to prepare for investing in real estate next year. Related: Learn How to Make Money in Real Estate 1. Get your finances in order The first step in real estate investing is always to figu...

Opinions expressed by Entrepreneur contributors are their own. It has been estimated that as many as 90% of startups fail within the first five years globally. Yet, every year, both new and seasoned entrepreneurs put their heart and soul into starting a new business venture. As a serial entrepreneur and investor, I have built multiple businesses in the last few years. While some failed, a couple of them succeeded and went on to become multi-million-dollar companies with offices on a global scale. Being an entrepreneur is often seen through rose-tinted glasses, but the reality is that it requires hard work, perseverance and grit. You can expect to work a lot of hours, and work-life balance can be challenging. You are going to need to focus on designing the product, acquiring new customers, doing the marketing and taking care of finances. In fact, it can feel overwhelming just how many hats you will need to wear. What's more — there is no guarantee of success...

Opinions expressed by Entrepreneur contributors are their own. Real estate development and construction have changed since the 1960s: Contractors typically built the container and let the homeowner fill in the rest. However, smart home technology is disrupting the industry, presenting a major market opportunity for designers, builders, entrepreneurs and investors. Recent research from Mordor Intelligence predicts that the smart home market, valued at $79.13 billion in 2020, is expected to grow to $313.95 billion by 2027. As a result, I expect to see an increase in the term "smart home automation" — referring to Internet-connected devices that monitor and control essential household functions such as lights, cameras, locks and climate. As the industry transforms, it presents a prime opportunity for entrepreneurs, corporations and investors. Touchless interactions and whole-home automation that drive efficiency and save energy are among the concepts dri...

Back in 2018, Taylor Character, aka HoneyLuv, was operating drones for the Navy at a base in Malibu, California. "Being in the military made me a lot more organized," the Cleveland native told Billboard . "I would also say being more diligent, not allowing myself to slack, and to be on top of everything — a self-starter and motivator." She used her newfound discipline to teach herself how to DJ, a skill that would pay off big time. In just two short years, HoneyLuv has toured at EDM festivals around the country and produced remixes for such artists as Diplo and Lizzo. "Don't let anyone tell you it isn't possible. Anything in this world is attainable," HoneyLuv said. Related: DJ Khaled Just Rented Out His Sneaker Closet on Airbnb for $11 From drones to dancefloors After leaving the military, HoneyLuv made her first debut by spinning Hip Hop and R&B music on Dash Radio as a Guest DJ for celebrity trainer Corey Calliet's "I...