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Inc. Magazine

Inc. Magazine March/April 2021

Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders.

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Country:
United States
Language:
English
Publisher:
Mansueto Ventures LLC
Frequency:
Bimonthly
$7.32(Incl. tax)
$29.28(Incl. tax)
6 Issues

in this issue

1 min
please take our money!

In 2008, the Great Recession hit, and Daniel Lubetzky panicked. The Kind Snacks founder (and current executive chairman) was naturally averse to spending money, and the crashing economy—high unemployment, low consumer confidence—seemed like a deterrent for his then—young company’s growth plans. But he was wrong. A single conversation with his investors changed his mindset and allowed his business to thrive while others floundered. In the wake of Mars Inc.’s purchase of Kind in December 2020 for an estimated $5 billion, Lubetzky reflects on lessons from uncertain times—and offers advice for launching during a pandemic. 1994 Lubetzky’s first company, PeaceWorks, struggled financially—imbuing its founder with a “scarcity mentality,” which led him to see every penny as a cost. Even for the hiring budget. 2001 That’s because he was particularly scared of the other…

4 min
mississippi tech

FOR NASHLIE SEPHUS, 35, her venture to create a tech hub on 14 acres of vacant lots and derelict buildings in the heart of Jackson, Mississippi, is not a moon shot, but rather a homecoming. For the past four years, Sephus has spent a good part of her time in Atlanta, where she is an applied science manager in artificial intelligence at Amazon. Earlier, she was chief technology officer of a visual recognition company called Partpic, which Amazon bought in 2016. She also founded the Bean Path, a nonprofit technology consultancy and incubator based in Jackson. Now Sephus plans to create the Jackson Tech District, a 500,000-square-foot down-town hub that will include a maker’s space, an electronics lab, an innovation station, a photography studio, apartments, restaurants, and a grocery store. Sephus will…

2 min
the makings of a new kind of coaching business

The gig economy is exploding. While some gig workers are taking on extra work to get through the pandemic, many are fortunate enough to be pursuing what they love, either full-time or as a side hustle. But for those looking for help starting and growing their business, navigating the crowded coaching and consultancy space can be challenging, says David Bayer, founder of David Bayer Businesses (DBB), one of the fastest-growing business and personal development coaching companies in the country. Bayer realized how hard it is to find guidance firsthand, in 2015, when he set out to launch his personal development business. The experience inspired him and his wife, DBB President Carol Bayer, to expand their personal development company’s offerings by coupling mindset coaching with entrepreneurial fundamentals. Five years later, they are…

2 min
a focus on quality built a new business

After high school, entrepreneurship teacher Erin Meagher read about coconut oil’s health benefits, and she saw an opportunity. In 2009, few U.S. companies sold coconut oil. The products weren’t organic, and brands didn’t share sourcing information. She launched Beneficial Blends, her own coconut oil brand, initially relying on an outside manufacturer to produce and bottle her product. But mistakes and late orders became problems. To retain complete product control, in 2014, she opened her own manufacturing facility in Tampa. When Meager’s retail customers heard about the facility, they wanted in. Beneficial Blends’ white label product business was born, as the company started blending oils, customizing formulations, manufacturing, and packaging their products, staying with the “beneficial for you” product theme. SMALLER MEANS RESPONSIVE AND INNOVATIVE About 60 percent of Beneficial Blends’ business is now…

1 min
the best part

Feeling less productive than usual right now? It’s not your fault. Neuroscience shows that the part of the brain that helps you focus shuts down in times of ongoing stress and uncertainty. The good news? Science also shows that by focusing on the rising and falling of your breath for 60 seconds, you can reduce the amount of stress hormones in your body. It’s one example of a micro-step—a small, science-backed action you can take immediately to start building habits that will significantly improve your life. For more, read my book Your Time to Thrive: End Burnout, Increase Well-Being, and Unlock Your Full Potential With the New Science of Microsteps. FROM LEFT: GETTY; COURTESY PUBLISHER…

2 min
how to have a crisis

Lay out the stakes. The crisis must be real, or at least mostly so. If it’s positioned as an exercise or something that doesn’t feel true (“An asteroid is coming!”), people won’t commit. Use an actual event—a big meeting, signals from a competitor—and tweak the timetable to boost the team’s adrenaline. Give people control. Fend off fear and unconstructive behavior by clearly defining the goals, the tools that the team has at its disposal, and the endpoint. Give people something to do, even if it’s small, so that they feel they’re part of the collective effort. “People are scared of starving,” says McBride, “but not of fasting.” That’s because fasting is in their control. Limit the scope. Your crisis should not be armageddon; if people fear for their jobs, they’ll be distracted,…