I Wish Every Entrepreneur Had a Dad Like Mine

Opinions expressed by Entrepreneur contributors are their own.

Most kids learn their first business lesson behind a lemonade stand. I learned mine by silently observing everything my Dad did; a true businessman through and through.

My Dad spent his career in finance and leadership, ultimately serving as CEO of an agricultural company doing $1 billion in annual sales and chairing the American Egg Board in Chicago. Another interesting part of his background comes from his two-year volunteer service mission in Argentina, and lead guitarist and singer in a rock band!

He grew up in the 60s and 70s in Long Beach, California, and raised four kids in Orange County, CA, while having business experience all over the U.S. That unique résumé turned our dinner table into the world’s most fascinating MBA program.

Between bites of omelettes (his company sold eggs) and bacon, he’d share business leadership lessons through stories of his experiences at work.

Most importantly, Dad lived every principle he preached. He didn’t only teach business; he modeled high character. When we visited their headquarters with him, we watched him walk through the warehouse and speak Spanish with all the workers there, building relationships and checking on his people. He’d then be able to switch gears and get into a board room for a large acquisition meeting, all without changing who he was.

His example shaped the way I lead and, later, parent my five children. So this Father’s Day, I’m distilling three lessons he modeled so consistently that they’ve become the operating system for my business ventures and, more importantly, my busy family of seven.

Related: My Kids Got Me the Best Father’s Day Present Ever. Here’s How

Lesson #1. Kindness wins

Dad never believed that old saying, “nice guys finish last.” From the farm workers to the C-suite executives, he spoke to everyone with the same steady respect. And that wasn’t a tactic he switched on for business; it’s just who he is.

“You don’t have to be selfish to win and get to the top,” he’d always say. That made me understand that people feel valued, while respect naturally lowers friction in teams and raises results — a simple cause and effect.

I bring the same approach to my companies. We screen for character as carefully as skill, and we track how well teammates help one another, not just how they affect the bottom line. When people know they can raise a concern without blame, we resolve issues before they grow costly.

When business vendors see that we honor every agreement, they call us first when supplies are tight. Treating people well is a life motto that actually leads to business growth, because your people are your greatest assets in business.

At home, the rule stays the same. Our kids thank referees, greet the school custodian, and mail thank-you notes to their grandparents and neighbors. They’re starting to see that genuine courtesy comes back around — in friendships, in opportunities, and in the way they feel about themselves. That’s not charity; that’s how you build a life with a strong foundation.

Related: 5 Reasons Why Kindness Has Become the Key to My Happiness, Both in Business and in Life

Lesson #2. Wife comes first

When my mother was diagnosed with a rare, fast-progressing form of Parkinson’s at the young age of 60, Dad stepped down from day-to-day operations without a second thought. Friends called it “early retirement.”

He called it “loving my bride.” He learned her medication schedule, how to interpret her struggling sentences, adapted their daily schedule to accommodate her needs and still finds ways to take her on dates and occasional trips. Seeing him take care of my mom reinforces how important a strong marriage relationship is. That steady devotion reminds me that success in business is hollow if the person who believed in you first is relegated to second place in your life.

His example redefines life’s priorities for me and my younger sisters. Dad chose Mom over the boardroom; he showed us what strength really looks like: presence, patience and even some humor during the hard times.

That model now guides decisions I make as a husband and as the father of five active kids. Date nights for the following month go on the calendar before I accept business appointments. If my wife calls or texts during work, I’m going to check what she needs and reply. Children are definitely watching. They know my wife and I don’t have a perfect relationship, but they also know it’s our most important relationship. And that makes their world just a little more secure.

Put your spouse first, and you give your kids a living master class in long-term commitment. They’ll carry that lesson into their marriages and workplaces long after the Father’s Day cards are recycled. That’s the legacy my Dad handed me, and it’s the one I’m determined to pass on.

Lesson #3. Be present for your kids

Before he was a well-known CEO, he was simply my Dad. I never wondered whether he’d show up to a game. He’d roar into the driveway still wearing dress shoes, loosen his tie, grab his catcher’s mitt and catch my fastballs until the sun went down.

The next night, he’d be rebounding and passing me shots as I practiced hundreds of free throws and three-pointers on the basketball court. That willingness to invest in my hobbies said, “I’m here, and you matter.” That message still echoes louder than any pep talk he could’ve given me.

Now it’s my turn. We’ve got five kids, each playing one to two sports at a competitive level, and one guiding rule: if they’re competing, I’m in the crowd cheering for them. Client calls and appointments can come anytime, but not during their games. When an email dings while my daughter steps up to the free-throw line, the inbox waits.

Inside my businesses, we mirror the rhythm, family-friendly office hours, outcome goals, and “kids-welcome” during breaks. Most wealth management firms expect 50-60 hours from each employee. Our offices are open 8 am to 3 pm, Monday through Friday.

Yet productivity hasn’t fallen; loyalty and commitment have skyrocketed. People protect a workplace that protects their families and their personal lives. I’m playing the same long game, hoping one day my kids (and employees) will pass it forward — and challenge their teams to do the same.

Related: How Do You Balance Being a Dad and a CEO?

Stitching the values together

Kindness at the office, devotion to my wife, and hands-on parenting aren’t three random slogans to be written in an article or spoken on a stage; they’re gears in the same flywheel. Treat people right at work, and you come home with empathy instead of exhaustion. Guard your marriage, and your mind stays clear enough to bet on bold ideas. Show up for your kids, and you sharpen the patience and time management that make your clients feel seen.

Everyone notices. Business relationships make sure to take great care of us. Teammates show up before work “officially” starts in the morning. My kids and wife know that we carve out family time for meals, vacations and important family events… and that precious time won’t get compromised for any kind of business opportunity.

Passing the torch

Father’s Day lasts a Sunday; fatherhood runs year-round. Even if you didn’t grow up with a dad like mine, you can still run his playbook starting tomorrow morning. Thank the back-office hero nobody sees or acknowledges. Circle a date night with your spouse and defend it like it’s the most important night in the world. Plant yourself on the sidelines or the bleachers and cheer until your voice cracks.

The market may pay for speed and clap for your hustle and grind, but it never forgets character. Neither will your kids. So let’s lead with both and give the next generation a reason to say, “I wish every entrepreneur had a dad like mine.”

https://www.entrepreneur.com/growing-a-business/i-wish-every-entrepreneur-had-a-dad-like-mine-heres-why/492530




Why Diverse Leadership Is a Competitive Advantage — and How Women Can Lead the Shift

Opinions expressed by Entrepreneur contributors are their own.

Despite progress in gender equality, women remain significantly underrepresented in leadership roles across nearly every sector. In boardrooms, on executive teams and in key decision-making positions, the numbers still don’t reflect the talent and capability available.

As one of the few women leading a global company in the oil and gas industry, I’ve had to make my way in rooms where I was often the only woman — sometimes the only outsider of any kind. But I’ve also seen how being different, thinking differently and leading differently can be a business advantage.

This is not just about fixing inequality. It’s about reshaping how we define leadership in the first place and why every business, no matter the industry, stands to benefit from bringing more women into senior roles.

Related: Why Women Make Great Leaders

Diverse leadership isn’t a trend — it’s a growth strategy

Companies that prioritize diverse leadership aren’t doing it out of goodwill alone, they’re doing it because it works. Studies consistently show that businesses with more gender diversity at the top perform better financially, innovate more effectively and retain talent more successfully.

A 2020 report from McKinsey & Company found that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than those in the bottom quartile. Yet the gap keeps growing, suggesting that diversity has moved beyond helpful optics and is now essential to business productivity.

Why? Because different perspectives reduce blind spots. They make it harder to fall into groupthink. They surface new questions and identify different risks. Especially in high-pressure environments — whether you’re scaling a startup or managing operations across volatile markets — those insights matter.

At BGN, where we operate in more than 120 countries, our success hinges on understanding different cultures, responding to unpredictable situations and building trust with stakeholders across political and social lines. Those aren’t just technical challenges. They require empathy, adaptability and the ability to see around corners, traits that many women leaders bring naturally and that every organization should value more intentionally.

How inclusive leadership actually works in practice

Inclusive leadership cannot just rest on slogans or soft skills. There must be a concerted emphasis on who gets heard, who gets opportunities and who’s trusted with real responsibility. In my experience, the most effective leaders create systems that surface different perspectives and challenge their own assumptions, not just reinforce them. That might mean actively inviting pushback in decision-making meetings, paying attention to who’s getting promoted and who’s not or being honest about whether your leadership team actually reflects the people your business serves.

It also means being willing to let go of comfort. It’s easy to say you value diversity; it’s harder to give someone different from you full ownership over a high-stakes project or client relationship. But that’s where real change happens. If we want better outcomes, more innovation and stronger teams, we have to change not just how we talk about leadership, but how we practice it, day in and day out.

Related: Women Rising: Why We Need More Women At The Top

What women leaders bring to the table

Across industries, I see women leading differently and effectively. Not by mimicking the traditional leadership model, but by rewriting it. In particular, women often bring three strengths that are critical in today’s business environment:

First, empathetic decision-making. That doesn’t mean being submissive. It means being thoughtful about how decisions affect people, how to navigate competing priorities and how to build long-term trust. In the Middle Eastern markets that we operate in, empathy has helped our teams gain buy-in where others have struggled.

Second, measured risk assessment. In high-stakes environments, many women tend to evaluate risks not just in terms of profit and loss, but in terms of long-term stability and reputation. That broader view has helped BGN navigate volatility with fewer surprises and better resilience.

Third, community-focused leadership. More and more, customers and employees expect companies to do more than deliver profits. They want to know what you stand for. Women leaders often bring that clarity, embedding values into strategy and showing that purpose is an essential part of how business gets done.

Credibility, not conformity

One of the most powerful things I’ve learned is that leadership doesn’t require fitting into an old mold. In fact, it works better when you don’t. Over the years, I’ve found that the more I lead in a way that reflects my values and instincts — not someone else’s playbook — the more credibility I earn. That’s true whether I’m meeting with executives in Europe or negotiating commercial deals in Asia.

The same is true for any leader in any field: Your greatest asset is your ability to think independently and lead authentically. That’s how you build trust. That’s how you earn followership. Ultimately, that’s how you differentiate yourself in a market full of noise.

Related: To See More Women in Leadership Roles, Here’s What Needs to Happen

Women don’t need more reasons why leadership matters; we need more opportunities to lead. Likewise, businesses don’t need more diversity pledges; they need to start shifting power and responsibility where it hasn’t gone before.

Whether you’re building a business, managing a team or preparing for the next step in your career, remember this: Leadership is not about how loud you are in the room. It’s about the clarity of your vision, the quality of your decisions and the way you bring others with you.

And when more women are given that chance, the result is better companies, better leaders, more motivated employees and happier clients.

Despite progress in gender equality, women remain significantly underrepresented in leadership roles across nearly every sector. In boardrooms, on executive teams and in key decision-making positions, the numbers still don’t reflect the talent and capability available.

As one of the few women leading a global company in the oil and gas industry, I’ve had to make my way in rooms where I was often the only woman — sometimes the only outsider of any kind. But I’ve also seen how being different, thinking differently and leading differently can be a business advantage.

This is not just about fixing inequality. It’s about reshaping how we define leadership in the first place and why every business, no matter the industry, stands to benefit from bringing more women into senior roles.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/leadership/how-diverse-leadership-gives-you-a-big-competitive-advantage/492733




Use This AI-Powered Platform to Turn Your Side Hustle into a Scalable Business

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Data from a survey done by Self Financial found that 45% of people have a side hustle in addition to holding a full-time position. From online reselling to freelance design or copywriting work, there are numerous opportunities that one could turn into a successful business. Starting up a business previously required managing inventory, websites, payments, and more from separate platforms with steep learning curves. Sellful’s ERP Agency Platform uses AI to manage multiple business functions from one intuitive platform and now, you can get lifetime access for only $349.97.

No matter what phase of entrepreneurship you’re in, you can turn ideas into execution with Sellful. Easily generate visually stunning landing pages, websites, and funnels in seconds with AI. Set up shopping pages for physical or digital products and manage inventory through Sellful’s native POS app. Taking payments becomes simple through integration with Stripe, PayPal, Square, and more.

If you’re a freelancer or consultant who is managing multiple businesses on behalf of clients, Sellful has unlimited white label features such as email marketing, HR and payroll management, and a support ticket system.

Usually $1,497, Sellful’s powerful AI offers a seamless solution for previously time-consuming business functions. Manage all parts of your business, no matter what phase you’re in, and see how Sellful can help you grow.

Get Sellful’s ERP Agency Plan for $349.97 now.

StackSocial prices subject to change.

Data from a survey done by Self Financial found that 45% of people have a side hustle in addition to holding a full-time position. From online reselling to freelance design or copywriting work, there are numerous opportunities that one could turn into a successful business. Starting up a business previously required managing inventory, websites, payments, and more from separate platforms with steep learning curves. Sellful’s ERP Agency Platform uses AI to manage multiple business functions from one intuitive platform and now, you can get lifetime access for only $349.97.

No matter what phase of entrepreneurship you’re in, you can turn ideas into execution with Sellful. Easily generate visually stunning landing pages, websites, and funnels in seconds with AI. Set up shopping pages for physical or digital products and manage inventory through Sellful’s native POS app. Taking payments becomes simple through integration with Stripe, PayPal, Square, and more.

If you’re a freelancer or consultant who is managing multiple businesses on behalf of clients, Sellful has unlimited white label features such as email marketing, HR and payroll management, and a support ticket system.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/starting-a-business/use-this-ai-powered-platform-to-turn-your-side-hustle-into/492918




Why This CEO Cut a $500,000 Per Month Product — And What Every Founder Can Learn From It

Opinions expressed by Entrepreneur contributors are their own.

I helped launch Momentous over five years ago, and I’ve witnessed firsthand how the brand does not just talk about integrity, it lives it. But what impresses me more than the products, advisory board and partnerships, is the mindset behind it all. And that starts at the top.

Jeff Byers, the Co-Founder and CEO of Momentous, is not your typical supplement company executive. A former USC and NFL offensive lineman, Jeff is a father of three boys, a values-first leader and someone who is not afraid to pull a top-performing product if the science no longer holds up.

That’s exactly what he did with Fadogia, a male hormone support supplement that was bringing in $500,000 per month in revenue.

“When we looked at the body of research during our quarterly review, it just didn’t meet our standard anymore,” Jeff told me during a recent conversation. “We’re not in this to chase every trend. We’re here to build trust and offer only what’s scientifically sound.” Byers explained that it was difficult to rally the team around it because it was going to hurt the business in the short term.

That quality over quantity, science-over-noise mindset is one of the reasons Momentous is rapidly becoming a go-to brand for the world’s best athletes, military professionals and everyday high-performers.

With years of experience in the nutrition and supplement industry, I’ve seen just how messy and misleading this space can be. It’s overrun with hype, loose regulations and consumer confusion. Many products make bold claims, but few are backed by true research or certifications that mean anything. “Made in the USA,” for instance, often just means “mixed here,” not that the ingredients are U.S.-sourced or even clean.

“It’s easy to start a supplement company,” Jeff says, but “it’s hard to do it right.” As a former NFL athlete shaped by discipline and setbacks, Jeff shared a powerful mantra from his USC Coach, Pete Carroll, that has become a guiding principle for how he leads today: “Do it better than it’s ever been done before.”

Related: I Treated My Health Like a Business. It Changed My Life

Jeff’s approach is refreshingly clear: focus on foundational products backed by the strongest science – supplements like creatine, protein and omegas, what the brand calls “The Momentous Three™️.” These essentials are difficult to get in sufficient amounts from diet alone, and have strong science for supporting lean muscle mass, brain health and long-term performance.

Instead of flooding the market with trendy SKUs, Momentous doubles down on what works, then ensures those products meet the gold standard of NSF certification and label claim accuracy. That’s uncommon in a category where what’s listed on the bottle isn’t always what’s inside. “More isn’t better,” Jeff says. “Better is better.”

With that same mindset, the company recently launched “The Women’s Three™️”composed of iron+, calcium and vitamin D3 to focus specifically on women’s physiology, and this was led by Momentous’ Co-Founder and President, Erica Wood and renowned female physiologist, Dr. Stacy Sims.

Jeff is also one of the few leaders in the space who doesn’t pretend supplements are magic bullets. I agree with his philosophy that health is behavioral first. Supplements are literally, supplemental. He was quick to point out that the growth of the supplement industry has paralleled the rise in chronic health conditions in the U.S., not the reverse. More supplements have not made us healthier, and it’s a driver for why he and his team focus on simplifying, not complicating.

His personal health philosophy is grounded in the 80/20 rule and with consistency driving results. Jeff told me, “If we can help people build better habits around nutrition, sleep and recovery, and then support that with the right tools, we’re doing our job.”

Pulling a product like Fadogia or NMN (removed two years ago due to updated FDA regulations) isn’t easy, especially when those products are high-margin. But Jeff views those decisions as long-term brand investments. He aims to build a brand people can trust – not just because they say the right things, but because they follow through with action. That’s what makes Momentous different.

This long-term approach is what allows Momentous to innovate from a place of responsibility. The brand partners with some of the best minds in sports science and medicine, including Dr. Andrew Huberman, Dr. Stacy Sims, Dr. Andy Galpin, Louisa Nicola and others, and develops every product with rigorous testing and intention. Not all certifications are created equal, and Jeff ensures the ones Momentous uses are meaningful.

Related: I Work Nearly 50+ Hours a Week and Rarely Feel Tired

Jeff’s leadership hasn’t been without setbacks. One of the most formative periods of his career came after merging Momentous with a prior company. His mantra at the time? “Don’t Die!” He now describes it as both their biggest opportunity and biggest mistake.

“We tried to blend two different cultures instead of setting a new direction,” he shared. “I was trying to make everyone happy, and when you do that, you make no one happy.”

It took six to nine months of rebuilding to get the company aligned again. The lesson he learned is that if you don’t set a clear north star, you don’t have culture. And without culture, you have confusion.

That clarity has become a hallmark of the brand today. Momentous isn’t trying to be all things to all people. It’s aiming to be the most trusted performance supplement company in the world — and it’s on its way.

Beyond business, Jeff is a father of three and a husband who is deeply committed to showing up at home, not just at work. He puts his phone away in the early evening and prioritizes presence. He explains that the lines blur quickly when you’re building a company, and if he’s not showing up for his family, nothing else really matters.

That intentionality shows up in the way he leads, too, with transparency, humility and a relentless focus on the mission. In a world where it’s tempting to scale fast, chase trends or throw spaghetti at the wall to see what sticks, the former Denver Broncos and Carolina Panthers offensive lineman is playing a different game. It’s a game rooted in trust, science and human-first leadership. That’s what builds legacy brands.

Whether you’re building a supplement company or any startup, Jeff’s story is a reminder: doing the right thing may not be the fastest path to success, but it may very likely help you build a lasting brand.

I helped launch Momentous over five years ago, and I’ve witnessed firsthand how the brand does not just talk about integrity, it lives it. But what impresses me more than the products, advisory board and partnerships, is the mindset behind it all. And that starts at the top.

Jeff Byers, the Co-Founder and CEO of Momentous, is not your typical supplement company executive. A former USC and NFL offensive lineman, Jeff is a father of three boys, a values-first leader and someone who is not afraid to pull a top-performing product if the science no longer holds up.

That’s exactly what he did with Fadogia, a male hormone support supplement that was bringing in $500,000 per month in revenue.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/leadership/why-this-ceo-cut-a-500000-per-month-product-and-what/492947




‘Way Harder Than I Expected’: Chime Was Turned Down By 100 VCs a Decade Ago. It Went Public This Week Valued Around $12 Billion.

Banking app Chime was valued at around $12 billion (and reaching up to $18 billion) on Wednesday, after making its debut on the Nasdaq index. It was boosted by the company reporting $1.3 billion in revenue in 2023 and $1.7 billion in 2024, according to an SEC filing.

But the journey to profitability (Chime became profitable in the first quarter of 2025) and an IPO wasn’t a slam dunk. The company’s original CTO told TechCrunch that they were actually broke a decade ago and were turned down by at least 100 venture capitalists.

Related: JPMorgan Will Fire Junior Bankers Over a Common Practice That CEO Jamie Dimon Calls ‘Unethical’

“We founded the company in 2012, and the first, really, five or six years was very difficult in terms of convincing investors to invest in the idea and the business,” the company’s original CTO and co-founder, Ryan King, told TechCrunch. It was just way, way harder than I expected.”

King, who is currently a board member and a principal shareholder, added: “In the beginning of 2016, specifically, we were trying to raise an extension to our Series A and we pitched 100 investors, maybe more, and got 100 no’s.”

Attendees celebrate during the Chime Financial Inc. initial public offering at the Nasdaq MarketSite in New York, US, on Thursday, June 12, 2025. Victor J. Blue/Bloomberg via Getty Images

Eventually, Chime got an investment from one seed investor who “took a bet” on the company, King said. Per TechCrunch, it was Lauren Kolodny, currently a co-founder of Acrew Capital. Kolodny was on the podium to help ring the opening bell at Nasdaq on IPO day.

Related: What You Need to Know Before Investing in a Company That’s Preparing to Go Public

Meanwhile, Chime CEO Chris Britt told CNBC that the company’s success is due to its loyal user base.

“Two-thirds of our customer base use us as their direct deposit account and primary account relationship,” Britt told CNBC.

“Sometimes for people, it takes a change in life — a change in their career, a job change — to be the point in time when they actually make the switch and use us as a primary bank account,” he added.

https://www.entrepreneur.com/business-news/how-banking-app-chime-went-from-broke-to-ipo-billions/493263




Is AI the Reason for Your Layoff? New York Becomes the First State to Require Companies to Disclose If So.

New York is taking an unprecedented step by asking companies to disclose whether artificial intelligence is the reason for their layoffs.

The move applies to New York State’s existing Worker Adjustment and Retraining Notification (WARN) system and took effect in March, Bloomberg reported. New York is the first state in the U.S. to add the disclosure, which could help regulators understand AI’s effects on the labor market.

The change takes the form of a checkbox added to a form employers fill out at least 90 days before a mass layoff or plant closure through the WARN system. Companies have to select whether “technological innovation or automation” is a reason for job cuts. If they choose that option, they are directed to a second menu where they are asked to name the specific technology responsible for layoffs, like AI or robots.

Related: Morgan Stanley Plans to Lay Off 2,000 Workers, Replacing Some with AI

New York Governor Kathy Hochul first proposed the change in her January 2025 State of the State address.

At the time of writing, no companies filing WARN notices in the state have said the layoffs were due to AI.

So far, no other states have followed New York’s lead in adding the AI disclosure to their WARN notices, but some experts suggest “it signals growing concern among regulators,” one CEO told Bloomberg.

Related: AI Is Dramatically Decreasing Entry-Level Hiring at Big Tech Companies, According to a New Analysis

There is increasing concern about AI’s effect on the labor market. Last month, Anthropic CEO Dario Amodei predicted that AI would wipe out half of all entry-level, white-collar jobs within the next five years and cause unemployment to rise 20%.

In March, Amodei said that AI would take over all coding for software engineers within a year.

Meanwhile, Victor Lazarte, general partner at venture capital firm Benchmark, said in April that AI was “fully replacing people” in professions like law and recruitment. He predicted that AI would automate routine tasks and take over entry-level jobs.

New York is taking an unprecedented step by asking companies to disclose whether artificial intelligence is the reason for their layoffs.

The move applies to New York State’s existing Worker Adjustment and Retraining Notification (WARN) system and took effect in March, Bloomberg reported. New York is the first state in the U.S. to add the disclosure, which could help regulators understand AI’s effects on the labor market.

The change takes the form of a checkbox added to a form employers fill out at least 90 days before a mass layoff or plant closure through the WARN system. Companies have to select whether “technological innovation or automation” is a reason for job cuts. If they choose that option, they are directed to a second menu where they are asked to name the specific technology responsible for layoffs, like AI or robots.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/business-news/new-york-requiring-companies-to-reveal-if-ai-caused-layoffs/493267




The Overlooked Money Moves That Help Entrepreneurs Build Long-Term Wealth

Opinions expressed by Entrepreneur contributors are their own.

When you start and grow a business, you must devote your full mental, emotional and financial attention. Due to this, entrepreneurs usually prioritize growth over personal wealth. But the truth is, without intentionally building personal wealth, you could find yourself with a successful business and nothing to show for it personally.

I get it. Wealth building isn’t as exciting as entrepreneurship. It isn’t about flashy investments or overnight success. Instead, it’s about making consistent financial habits that open doors to long-term freedom. So, to ensure your personal wealth is growing along with your business, here are ten practical financial habits entrepreneurs should adopt.

1. Separate personal and business finances

The best way to manage your personal and business finances is to clearly distinguish between the two. But this is more than just bookkeeping. It’s about mindset. When your personal finances are entangled with your business finances, it is virtually impossible to gauge your true wealth or make strategic decisions.

What to do:

  • Set up separate business bank accounts and credit lines.
  • You should pay yourself a regular salary or draw, regardless of how modest it is.
  • Don’t fund personal expenses from your business account. This can cause tax problems and confuse your cash flow.

In addition to simplifying taxes, this discipline reinforces the idea that a business is not your identity nor your personal deposit account.

Related: Why is it Necessary to Keep Personal Finances and Business Accounts Separate for Entrepreneurs

2. Pay yourself first

This principle holds even more significance for entrepreneurs. Too many entrepreneurs wait until they “get ahead” before removing their money from their company. The problem? Moments like that rarely occur unless you make them happen.

What to do:

  • Every month, allocate a percentage of your business revenue to savings or investments.
  • Set up automatic transfers to IRAs, brokerage accounts or savings accounts.
  • You are an investor, so treat yourself as such.

If you make wealth-building a non-negotiable part of your life, you break the cycle of reinvesting every dollar and establish financial security.

3. Build a business emergency fund

Undoubtedly, unexpected expenses are not just a personal problem; they also affect businesses. Stimulating wealth growth by constantly paying off debt or putting out fires with your savings is a recipe for disaster.

What to do:

  • Maintain an emergency fund for your business equal to three to six months’ operating expenses.
  • Use it only for true business emergencies, not slow sales months or late payments.
  • Just as you would a personal emergency fund, replenish it consistently.

This cushion will protect your business and personal assets when times are tough.

4. Diversify your income streams

Sure, your business may be your baby. But putting all your eggs in one basket is a risky strategy. A smart entrepreneur diversifies their income beyond their core business.

What to do:

  • Take advantage of licensing opportunities, online courses and digital products.
  • Invest your profits from the business in real estate, index funds or stocks that yield dividends.
  • Consider affiliate income, brand partnerships or strategic side investments.

It’s all about generating multiple wealth-generating sources from your business cash flow.

5. Save for retirement even without a 401(k)

Since most entrepreneurs lack access to employer-sponsored retirement plans, they neglect retirement planning. However, self-employed individuals can use powerful tools when they take the initiative, since they can access them.

What to do:

  • Depending on your business structure, you may want to open a SEP IRA, Solo 401(k), or SIMPLE IRA.
  • If possible, maximize your contributions. 401(k) contributions for 2025 will be $70,000 or 100% of earned income, whichever is less. In SEP IRAs, the contribution limit is $70,000, while the compensation limit is $350,000. You can contribute $16,500 to the SIMPLE IRA, plus $3,500 if you’re 50 or older. In addition, those ages 60 to 63 receive a higher catch-up limit of $5,250.

Over time, even modest contributions can have a powerful effect if you start early and stay consistent.

6. Get strategic with taxes

For entrepreneurs, poor tax planning is a significant source of wealth leakage. Unless you have a smart strategy in place, you can pay more than you must. Or, even worse, you may be surprised by a hefty bill that forces you to dip into your savings.

What to do:

  • Find a CPA who specializes in small businesses and is proactive.
  • Be diligent about tracking all business expenses and deductions.
  • Take advantage of pass-through taxation and self-employment tax strategies by forming an LLC or S-Corp.

When you minimize your tax liability, more money stays in your pocket and can be redirected toward building wealth.

7. Invest in financial education

Financial literacy is a lifelong pursuit for the most successful entrepreneurs. You can maximize your income by knowing the basics of investing, taxes, and personal finance.

What to do:

  • Every quarter, read one book on finance or investing (e.g., The Psychology of Money, Profit First).
  • Follow financial advisors like Michael Kitces or podcasts aimed at entrepreneurs, like How I Built This with Guy Raz.
  • Ideally, you should work with a fee-based financial advisor who has experience working with small businesses when you are ready.

A sound understanding of finance gives you control and confidence, two essential elements of long-term financial success.

Related: The 10 Best Podcasts Every Entrepreneur Should Listen to for Growth, Strategy, and Success

8. Protect your wealth with insurance and legal structures

The concept of wealth goes beyond accumulation to include protection as well. When unprepared, a lawsuit, accident, or unexpected disability can derail everything you’ve built.

What to do:

  • Your business should have appropriate liability insurance, and you should consider umbrella coverage as well.
  • Establish an LLC or corporation to limit personal liability.
  • If you have dependents or business partners, consider getting disability insurance and life insurance.
  • As your assets grow, create a simple estate plan or trust.

A house without a foundation is like a wealth-building project without risk management.

9. Know when to reinvest and when not to

It’s tempting to funnel every dollar back into your business during growth phases. However, over-investing can lead to a costly trap if you fail to accumulate personal wealth.

What to do:

  • Establish a reinvestment plan that outlines clear expectations for return on investment.
  • Set aside a set percentage of profits for reinvestment, personal savings, and taxes.
  • It is important to remember that your business is only an engine for wealth, not a destination in itself.

Don’t invest blindly; reinvest smartly.

10. Regularly review and adjust your financial plan

Building wealth is not a matter of “set it and forget it.” As your business grows, you must adjust your financial situation, goals, and risk tolerance accordingly. Staying on track and taking advantage of opportunities should be a regular routine.

What to do:

  • Establish a “money day” to review your business and finances every three months, annually, or biannually.
  • Keep track of your net worth, review your investment performance, and determine how much you save.
  • Do you want to reach financial freedom, retire early, or plan your legacy? Review your goals annually.

Small adjustments made consistently can have a powerful impact. Your financial plan should be as dynamic, intentional, and growth-oriented as possible.

Related: 5 Questions to Ask to Make Sure Your Company’s Financial Plan Is on Track

Treat yourself like a shareholder

Are you ready for the mindset shift that will change everything? Rather than seeing yourself as a founder, act like a shareholder. In addition to getting paid, shareholders expect a return on their investment.

Even though your business may grow, wealth comes from what you keep, not just what you make. Establishing disciplined financial habits early on will help you build a thriving company and a lifestyle of true financial freedom.

When you start and grow a business, you must devote your full mental, emotional and financial attention. Due to this, entrepreneurs usually prioritize growth over personal wealth. But the truth is, without intentionally building personal wealth, you could find yourself with a successful business and nothing to show for it personally.

I get it. Wealth building isn’t as exciting as entrepreneurship. It isn’t about flashy investments or overnight success. Instead, it’s about making consistent financial habits that open doors to long-term freedom. So, to ensure your personal wealth is growing along with your business, here are ten practical financial habits entrepreneurs should adopt.

1. Separate personal and business finances

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/finance/building-wealth-while-building-a-business-10-financial/492230




Take Control of What Your Online Presence Says About You

Opinions expressed by Entrepreneur contributors are their own.

Before anyone steps into your business, they’re already walking through your digital front door.

And that front door? It’s not just your website. It’s your Instagram bio, your LinkedIn header, your last three Google reviews — and whether you like it or not, people are judging.

This isn’t just a real estate issue. It’s a modern business challenge. In today’s digital age, every entrepreneur, regardless of their industry, faces the same scrutiny. Whether you’re a therapist, a founder, a coach, or a solopreneur, you are being Googled. And more often than not, that quick online search becomes the reason someone either clicks through or clicks away.

Related: Want to Build Trust in Your Business? It All Starts Online

The first (digital) impression is everything

Years ago, if a home looked rough on the outside, potential buyers wouldn’t even bother stepping inside. That’s curb appeal.

Today, your digital presence is your curb appeal. If your website looks like it hasn’t been updated since 2014, if your LinkedIn headline is vague, or if you’ve got a highlight reel of blurry social posts and broken links, you’re leaving opportunity on the table.

And the scariest part? Most people don’t even know what’s wrong.

That’s why my company started doing brand audits. Think of it like a digital home inspection. We review everything: social bios, website copy, email footers, profile photos, consistency, tone, messaging — and yes, even the typos. Because your online presence doesn’t just speak for you. It is you.

What most people get wrong

Thinking good enough is enough. A decent headshot and a few blog posts do not build trust. People want to see you show up with consistency and confidence.

Ignoring alignment. The tone of your website, the energy of your social media, the words in your emails — they all need to point in the same direction. If your audience feels like they’re getting mixed messages, they’ll walk away.

Treating your brand like a one-time project. Your digital presence isn’t something you “set and forget.” It’s a living, evolving asset. And it needs regular care.

Why digital trust matters

In the world of entrepreneurship, trust is the currency that drives business success. Your online presence is often the first interaction potential clients or customers have with your brand. If they don’t trust what they see, they won’t engage further.

Building digital trust involves more than just having a professional-looking website. It’s about creating a cohesive and authentic online persona that resonates with your audience. This includes consistent branding across all platforms, engaging and relevant content and a clear message that aligns with your business values.

Steps to enhance your digital presence

  1. Audit your online profiles: Start by reviewing your social bios, website copy, email footers, profile photos and overall consistency. Look for areas that need improvement and make necessary updates.
  2. Consistency is key: Ensure that your tone, messaging and branding are consistent across all platforms. Mixed messages can confuse your audience and erode trust.
  3. Engage regularly: Your digital presence should be dynamic. Regularly update your content, interact with your audience and stay active on social media. This shows that your business is alive and thriving.
  4. Professionalism matters: Invest in high-quality visuals, well-written content and a polished website. These elements reflect your professionalism and commitment to your business.
  5. Seek feedback: Don’t hesitate to ask for feedback from your audience. Understanding their perceptions can help you make informed improvements to your digital presence.

Related: How to Build Trust and Transparency With Your Customers While Taking Their Data

The role of digital trust in business growth

Digital trust isn’t just about attracting clients; it’s about retaining them. When people trust your online presence, they are more likely to become loyal customers and advocates for your brand. This trust translates into repeat business, positive reviews, and word-of-mouth referrals — all of which are crucial for business growth.

Moreover, a strong digital presence can differentiate you from competitors. In a crowded market, your edge isn’t just what you offer. It’s how clearly and confidently you show up online.

Today, your digital presence is your curb appeal. It’s the first impression that potential clients have of your brand, and it can make or break their decision to engage with you. By focusing on building digital trust, you can ensure that your online presence reflects your brand’s credibility and professionalism.

So, take the time to audit your digital presence, ensure consistency, engage regularly and seek feedback. These steps will help you build a strong and trustworthy online persona that attracts and retains clients.

Because in business, your edge isn’t just what you offer. It’s how clearly and confidently you show up online.

Before anyone steps into your business, they’re already walking through your digital front door.

And that front door? It’s not just your website. It’s your Instagram bio, your LinkedIn header, your last three Google reviews — and whether you like it or not, people are judging.

This isn’t just a real estate issue. It’s a modern business challenge. In today’s digital age, every entrepreneur, regardless of their industry, faces the same scrutiny. Whether you’re a therapist, a founder, a coach, or a solopreneur, you are being Googled. And more often than not, that quick online search becomes the reason someone either clicks through or clicks away.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/starting-a-business/take-control-of-what-your-online-presence-says-about-you/490913




Who Are You Without Your Company? Here’s How to Separate Your Self-Worth and Identity From Business Performance.

Opinions expressed by Entrepreneur contributors are their own.

Entrepreneurs are, by nature, deeply connected to their ventures. Your business isn’t just a source of livelihood. For most business owners, it often consumes most of their waking hours, demanding their constant attention, vision, hard work and strategic planning. This intense immersion can lead to remarkable success, but it also means the business itself can quickly become a deeply ingrained part of your identity.

While this level of passion and connection is often celebrated in the entrepreneurial world, there’s a significant downside if your personal worth and identity become too closely linked to your venture’s fate. This all-consuming mindset can subtly push founders to believe that the health of the business is a direct reflection of their self-worth. This creates a dangerous feedback loop where personal value is tied to business metrics, leading to what many are now calling the entrepreneur identity crisis.

Unfortunately, this identity crisis can manifest as chronic stress, burnout, mental health issues and even physical illness from the constant pressure to perform, which is amplified if the business is struggling or facing a growth plateau. In a desperate attempt to fix the problem, many entrepreneurs simply double down on their focus on the business, causing further harm and straining relationships with friends and family who take a backseat to the relentless demands of the company.

Separating your personal worth and value from the business is a critical step to maintaining a healthy relationship with your work and, more importantly, with yourself. This is especially vital if you’re making plans to pivot, scale back or even sell your business. Without this crucial separation, you can find yourself facing a profound lack of purpose and even depression when the business no longer occupies the central role in your life.

Related: Don’t Let Your Business Take Over Your Life

1. Conduct an identity audit

Take an hour to sit down and create a comprehensive list or a visual mind map of all your roles, interests and relationships outside of your business. Are you a spouse, parent, athlete, artist or community member? Once you have compiled an expansive list, honestly assess how much time and energy you currently dedicate to each of these roles. Are there any glaring gaps or imbalances?

An identity audit is a powerful tool to visually represent who you are as a person and identify if you are overextending yourself in one specific area at the expense of others.

2. Redefine your definition of success

True success in business extends far beyond financial metrics, revenue or valuation. While these are an important part of running a healthy business, tying these metrics to your personal identity can be dangerous. Instead, try reframing your definition of success in a way that decouples your personal worth from business performance. For example, one success factor might be being available for your kids’ extracurricular activities. This reinforces your role as a father rather than just a business owner.

Journaling is a fantastic practice to reinforce this on a regular basis. Dedicate time to self-reflect and make note of the things you feel gratitude for, such as personal successes, non-business accomplishments and life milestones. This practice can help ground you in a sense of accomplishment that isn’t solely tied to your business’s performance.

Related: Define What Success Looks Like to You

3. Schedule time for self-care and personal goals

For most entrepreneurs, self-care and personal well-being often get put on the back burner while their primary focus is on the day-to-day operations of their business. Being able to separate yourself physically from the business is a great way to strengthen your non-entrepreneurial identity.

Block out non-negotiable time on your calendar to focus on activities that are completely unrelated to the business, such as joining a community softball league, picking up a book on an interesting non-business topic or learning a new skill. In addition, make time to prioritize your health by hitting the gym, meditating or going to the spa. By consistently engaging in personal activities, you send a message to yourself that your personal needs are just as important as the needs of the business.

4. Set boundaries

The goal here isn’t to become indifferent to your business, but to set healthy boundaries that prevent it from consuming your entire life. Most entrepreneurs are familiar with answering late-night emails or “jumping on a quick call” on Saturday morning. The problem here is that being in entrepreneur mode 24/7 can exacerbate your identity crisis.

A simple way to combat this is to implement non-work hours into your daily routine. During this time, you should be completely unavailable to the business unless there is a true emergency. You can also set strict rules, such as not checking email after 7:00 p.m. or designating areas of your home as work-free zones.

Related: Set Boundaries in These Key Areas to Save Your Sanity — and Your Business

5. Build an external support system

The sad reality for entrepreneurs and corporate employees alike is that we often spend more time with our coworkers and business associates than we do our families and non-work friends. Before you know it, your social circle is entirely composed of people who share your industry, talk about the business or reinforce your work identity. For this reason, you should prioritize time to connect with people who have nothing to do with your professional life, such as reconnecting with high school friends or joining a club or group that has a shared hobby or interest.

Reconnecting with your true identity can be a scary and exciting phase in your journey as an entrepreneur. By cultivating a more diverse identity, you can protect yourself from the many challenges that come with developing an unhealthy relationship with your business.

Entrepreneurs are, by nature, deeply connected to their ventures. Your business isn’t just a source of livelihood. For most business owners, it often consumes most of their waking hours, demanding their constant attention, vision, hard work and strategic planning. This intense immersion can lead to remarkable success, but it also means the business itself can quickly become a deeply ingrained part of your identity.

While this level of passion and connection is often celebrated in the entrepreneurial world, there’s a significant downside if your personal worth and identity become too closely linked to your venture’s fate. This all-consuming mindset can subtly push founders to believe that the health of the business is a direct reflection of their self-worth. This creates a dangerous feedback loop where personal value is tied to business metrics, leading to what many are now calling the entrepreneur identity crisis.

Unfortunately, this identity crisis can manifest as chronic stress, burnout, mental health issues and even physical illness from the constant pressure to perform, which is amplified if the business is struggling or facing a growth plateau. In a desperate attempt to fix the problem, many entrepreneurs simply double down on their focus on the business, causing further harm and straining relationships with friends and family who take a backseat to the relentless demands of the company.

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/leadership/how-to-separate-self-worth-from-business-performance/492637




5 CEOs Sat Down for a Candid Conversation — What They Revealed Could Change Your Entire Perspective on Leadership

Opinions expressed by Entrepreneur contributors are their own.

There’s a unique energy that exists when you put five CEOs around one table. At our latest The CEO Roundtable episode, that dynamic played out in full. I sat down with Danny Wirtz (Chicago Blackhawks, Breakthru Beverage), Ashley Thompson (MUSH), Gregg Majewski (Craveworthy Brands), Emily Groden (Evergreen) and Luke Saunders (Farmer’s Fridge) to explore what it actually means to be a CEO in today’s world. It was an open, candid exchange of hard-won lessons, gut decisions and the kind of self-reflection that only comes from leading through highs and lows.

One of the big takeaways from this discussion was the emotional rollercoaster of entrepreneurship and leadership. Nearly everyone at the table shared stories about the personal weight of leading a company. Emily spoke about how lonely it can feel at the top, and Danny emphasized that when you’re in the driver’s seat, there’s nowhere to hide, specifically when you’re the CEO of a professional sports team. Gregg put it simply: “It’s not sexy.” These weren’t just war stories — they were reminders that leadership comes with a cost, one that can’t be measured in valuations or press headlines.

Related: 5 Founder-CEOs Come Together to Discuss the Realities of Leadership, Entrepreneurship and What It Takes to Succeed

Another powerful theme was letting go — or at least, learning to. Each of these leaders started their company or took over a legacy one with a clear vision, but as their businesses grew, so did the need to trust others to execute. Luke talked about the complexity of scaling Farmer’s Fridge and the moment he realized he couldn’t do everything himself. That same sentiment echoed across the table. Ashley, now with a larger team and investment behind MUSH, spoke about balancing hands-on energy with leadership maturity. Growth, it turns out, means giving up control to gain momentum.

We also dug into the unique pressures of consumer-facing businesses. All five leaders are selling something you can touch, taste or experience — products that depend on branding, shelf space and customer emotion. Whether it’s the nostalgia of Evergreen waffles or the boldness of Craveworthy’s restaurant portfolio, these founders are shaping what Americans eat and how they feel about it. That means rapid feedback loops, tight margins and constant adaptation. No one at the table is insulated from inflation, supply chain pain or labor shortages, but each of them is trying to build resilience into their operations.

One thing I didn’t expect — but probably should have — was how deeply personal the conversation got. Gregg described feeling almost addicted to the chaos of startup life. Ashley shared how imposter syndrome creeps in, even after massive success. Danny talked about inheriting not just a brand, but a legacy. And Luke reminded us that startup culture isn’t always the mental health haven people think it is. There was vulnerability in the room, and it made the dialogue more honest — and frankly, more useful — for anyone trying to understand modern leadership.

Related: How the CEO of This Iconic Pizza Brand Is Building on 50 Years of Deep-Dish Dominance and Fueling Sustainable Growth

As the moderator, my goal wasn’t to extract soundbites. It was to give space for complexity. This wasn’t a panel of untouchable icons. These are people navigating real-time decisions in messy, evolving markets. The biggest lesson? Being a CEO today means knowing yourself just as well as you know your P&L. Also, when you’re the CEO of a large organization, you have a heavy responsibility to lead with integrity, to serve your employees and customers and to utilize business “for good.” Otherwise, what are we doing here?!

There’s a unique energy that exists when you put five CEOs around one table. At our latest The CEO Roundtable episode, that dynamic played out in full. I sat down with Danny Wirtz (Chicago Blackhawks, Breakthru Beverage), Ashley Thompson (MUSH), Gregg Majewski (Craveworthy Brands), Emily Groden (Evergreen) and Luke Saunders (Farmer’s Fridge) to explore what it actually means to be a CEO in today’s world. It was an open, candid exchange of hard-won lessons, gut decisions and the kind of self-reflection that only comes from leading through highs and lows.

One of the big takeaways from this discussion was the emotional rollercoaster of entrepreneurship and leadership. Nearly everyone at the table shared stories about the personal weight of leading a company. Emily spoke about how lonely it can feel at the top, and Danny emphasized that when you’re in the driver’s seat, there’s nowhere to hide, specifically when you’re the CEO of a professional sports team. Gregg put it simply: “It’s not sexy.” These weren’t just war stories — they were reminders that leadership comes with a cost, one that can’t be measured in valuations or press headlines.

Related: 5 Founder-CEOs Come Together to Discuss the Realities of Leadership, Entrepreneurship and What It Takes to Succeed

The rest of this article is locked.

Join Entrepreneur+ today for access.

https://www.entrepreneur.com/leadership/5-ceos-get-brutally-honest-about-leadership-in-todays-world/492909