Business & Finance
Entrepreneur Magazine

Entrepreneur Magazine March 2019

Entrepreneur magazine is the trusted source for growing your business and offers surefire strategies for success. Whether you are just thinking of starting a business, have taken the first steps, or already own a business, Entrepreneur offers the best advice on running your own company

United States
Entrepreneur Media Inc.
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12 Issues

in this issue

3 min.
forget desire. focus on value

A CURIOUS EMAIL rolled into my inbox recently. The subject line was “Write article.” And here was the entire message: “Hi Jeff. I wanted to write an article, who do I speak with? Thanks.” Maybe you have some questions. I do! What kind of article does this person want to write? What makes them qualified? Why would I want to publish it? When did my name become Jeff? And that’s just the start. But let’s focus on the most telling word in this email—the one that explains what went wrong, and should serve as a warning sign for us all. The word is wanted, as in “I wanted to write an article.” The email writer led with what he wanted, not with what he could provide. And although his email was particularly clumsy,…

2 min.
the changing face of entrepreneurship 3 ways to achieve success

Starting and growing a business requires equal amounts of skill, determination, and motivation. As it turns out, the group with the most motivation to become entrepreneurs this year, and in the years ahead, might be minorities. People of color in the U.S. have a desire to start their own businesses at a rate of 20 percent higher than the rest of the population, according to the results of “The Changing Face of American Entrepreneurship,” a survey by Northwestern Mutual. Conducted in 2018, the survey polled 8,000 people from across the U.S. from different backgrounds, races, and genders. Results also showed that minorities are more probable than others to have a side hustle that they want to turn into their own business. “More likely to launch a side hustle and work with a…

7 min.
lilly singh aims beyond youtube

Since 2010, Lilly Singh has been lovingly known to fans as Superwoman—a moniker she has more than earned after amassing 14 million YouTube subscribers, producing and starring in a live world tour, and writing a best-selling book, among other projects. The actress and comedian catapulted to YouTube fame with her observational videos that tackle everyday life, and as her own celebrity grew, she started attracting top talent as collaborators: Dwayne Johnson, Priyanka Chopra, and Selena Gomez have all appeared on her channel. Now the 30-year-old is making plans for the next phase of her career and thinking hard about her own needs as a creator. She’s taking a closer look at her professional path, investing in her team, and shooting squarely for the traditional media world. You started your YouTube channel…

3 min.
getting your first “yes!”

1/Bait the hook. “When my cofounder, Hari Karunanidni, and I started HackerRank—a platform to help companies hire developers—we created a fake résumé with perfect credentials and posted it on job boards. We got a slew of inbound calls from recruiters looking for this amazing candidate. Once we had them on the phone, we’d say, ‘Hey, I’m not that person, but people like this are all over the world, and you don’t need a résumé to find them.’ It was a risky strategy, but it worked: That’s how we landed one of our first enterprise customers.” —VIVEK RAVISANKAR, cofounder and CEO, HackerRank 2/Follow up. “The year I launched Splendid Spoon, I spoke on a startup panel at Brooklyn Brewery and met two buyers from FreshDirect, who were in the audience. Their headquarters was across the…

6 min.
don’t wait until tomorrow

Practice saying sed non hodie. It means “but not today” in Latin. (Pronunciation: sed known hoe-dee-ay.) Why say it in Latin? Because it sounds better. It sounds scientific. And if you’re saying it in Latin, nobody else can understand the terrible, horrible, dangerous sentiment you’re expressing. Sed non hodie is what too many big companies say in response to a possible slowing or reversal of growth. Every entrepreneur should learn from their repetitive mistake. Consider where the impulse comes from: Every company wants to maintain or enhance its performance. That’s good—it’s how capitalism is supposed to work! But their managers often react not by changing for the future but rather by extending whatever the company already has. In the process, they have no idea how to evaluate the outcome. Are they…

3 min.
built to last

Back in 1999, longtime acquaintances Lucy Wallace Eustice and Monica Zwirner got to talking at a New York farmers’ market. Both were young mothers with fast-growing careers in fashion, and, as it turned out, both had been looking for the same chic, ultra-durable accessory. “There wasn’t a great American nylon handbag, something that worked for me, someone who traveled and worked and had small children,” Zwirner says. So the duo decided to make it themselves, and created the now-booming brand MZ Wallace. Here’s how they got started. 1/Embrace the naysayers. The women walked around New York’s garment district, knocking on suppliers’ doors and looking for partners. “We told a leather vendor that we wanted to use his expensive Italian leather on nylon bags, and he was like, ‘Why?’” Wallace Eustice says. “He…