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Target has tapped longtime executive Michael Fiddelke as its next CEO as the retailer warned of another year of falling sales and said it had cut costs because of trade tariffs, underlining the swathe of challenges awaiting its new boss. Suggested Reading Target maintained a full-year forecast of declining revenue, despite beating Wall Street’s expectations for sales and profit, while a second quarter savings drive had partly “offset continued tariff-related and other cost pressures”. Shares of the Minneapolis-based retailer slid about 10% in premarket trading. Related Content Fiddelke, 49, currently the company’s chief operating officer, will take over on Feb. 1, succeeding Brian Cornell, who has led the Minneapolis-based chain since 2014. He is named new boss with revenue near-flat for the last four years following a strong pandemic. The company has also struggled with eroding customer perceptions of its stores and stock. Fiddelke referred to this on a Wednesday call with investors, saying: “We have to do better here, especially in the consistency of our experience.” Tariffs could provide the new CEO with a particular headache. Cornell repeatedly warned that the import levies will lead to higher costs earlier this year, which the retailer would have to pass onto American consumers. Fiddelke said on the call: “Over the past few months, we’ve been urgently adjusting our approach to assortment planning amidst a rapidly evolving external tariff and consumer landscape.” Target reported second-quarter net sales of $25.2 billion, down 0.9% from a year earlier, led by a 3.2% decline in store sales that outweighed 4.3% growth online. Net income dropped to $935 million, compared with $1.19 billion in the same quarter last year. Diluted earnings per share came in at $2.05, which the company said reflected “strong expense management and efficiency gains” — but it was still down from $2.57 a year ago.  For the full year, the retailer said it is “maintaining its expectation of a low-single digit decline in sales”. Fiddelke said outdated technology, manual processes and fragmented decision-making that have hampered efficiency were among the internal hurdles slowing the company’s turnaround. He added the company’s headquarters structure and workflows have “significant opportunities to improve”, adding: “We’re evaluating how to best ensure our resources and talent better align with our strategy.” As part of that, the retailer is expanding its use of artificial intelligence, deploying thousands of new licenses to automate routine tasks and improve forecasting. “Despite the solid foundation that’s been established, our performance over the last few years has not been acceptable,” Fiddelke said. “We have real work in front of us. And to be blunt, we need to move faster, much faster.” 📬 Sign up for the Daily Brief Read More

SPACs explained: What they are and how they work Learn what special purpose acquisition companies (SPACs) are, how they work, and why some businesses use them instead of a traditional IPO If you’ve been reading up on financial market strategies, you may have come across the term “special purpose acquisition company,” or SPAC. But what does it mean? Put simply, a SPAC is a publicly traded company that doesn’t make or sell anything. Instead, it’s created to raise money from investors, which is then used to buy a private company. This process allows the private company to become publicly listed without going the traditional initial public offering (IPO) route.  Because investors typically don’t know which private company will be purchased, SPACs are often called “blank check companies.” Essentially, investors put their trust (and money) behind the team running the SPAC, hoping for a smart acquisition down the line.  For example, companies like Virgin Galactic and Burger King went public through SPAC mergers, showcasing how this route can fast-track a company’s entry into public markets. However, as with any investment, there are still risks involved, including uncertainty about the company’s future performance.  Let’s take a closer look at what SPACs are, how they work, and the risks and benefits involved.  2 / 9 A brief history of SPACs Andrea Piacquadio via Pexels SPACs first emerged in the early 1990s as an alternative investment vehicle, offering a more flexible way to bring private companies public. They were designed to help smaller companies access public markets without the heavy costs and long timelines of a traditional IPO.  For years, SPACs were considered riskier and less credible than traditional IPOs. As a result, they remained a niche tool used by speculative industries where traditional IPOs were challenging, such as oil and gas. Big-name investors and major companies generally weren’t interested in SPACs, and most people had never even heard of them.  3 / 9 The SPAC boom of the 2020s SPACs may have had a slow start, but they skyrocketed in popularity in 2020, when they raised a combined $83 billion. This number doubled to over $162 billion in 2021. So, what fueled this boom? There are a few factors that help explain it:  Faster route to public markets: For private companies, merging with a SPAC offered a quicker, more streamlined way to go public — skipping many of the delays and disclosures required in a traditional IPO. This path was taken by DraftKings, the sports betting platform, which went public via SPAC mergers in 2020. Investor enthusiasm: The pandemic era sent markets soaring amid ultra‑low interest rates and massive stimulus efforts. This led investors to pursue trending, speculative offerings such as Lucid Motors, the electric luxury car company, which went public via SPAC mergers in 2020. Favorable regulatory window: During this time, U.S. regulators took a relatively hands-off approach to SPACs. That looser oversight made it easier and faster to get deals done. Celebrity buzz: High-profile entrepreneurs, fund managers, and even celebrities jumped on the SPAC bandwagon, sparking both media attention and investor confidence. For example, billionaire Chamath Palihapitiya became known as the SPAC King because of his involvement in multiple high-profile deals. 4 / 9 Why companies choose SPACs While SPACs aren’t the right fit for every business, they offer distinct advantages, especially for start-ups and high-growth private companies looking to scale quickly. The following points highlight why some companies opt for this alternative route to going public. 5 / 9 Faster path to public markets A merger with a SPAC can move much faster than a traditional IPO, which often takes a year or more of preparation, filings, and investor roadshows. For companies eager to secure funding or capitalize on market momentum, a SPAC offers a streamlined timeline, sometimes completing the process in just a few months. 6 / 9 Control over valuation In a typical IPO, a company’s value is determined by market demand just before the offering. With a SPAC, the valuation is negotiated earlier in the process, giving a company more predictability and input in how it’s priced. This can be especially appealing for founders who believe in their long-term vision and want to avoid short-term market swings. 7 / 9 Access to seasoned investors SPAC sponsors often include experienced investors, industry veterans, or former executives with deep networks and strategic insights. For growing companies, partnering with a SPAC can bring more than just capital; it can provide guidance, connections, and credibility in the public markets. 8 / 9 Risks and criticisms of SPACs Despite their surge in popularity, SPACs come with real risks and undergo growing scrutiny. Many companies that went public through SPAC mergers have struggled to meet expectations, and regulators have started tightening oversight. For anyone considering this route, it’s important to understand these potential downsides: Risk of underperformance: Although premerger hype can drive up share prices, SPAC-backed companies may lose value after the deal closes. For example, some fail to deliver on projected growth, leaving early investors disappointed and long-term holders at a loss. Dilution of shareholder value: SPAC deals often include complex financial structures, such as warrants and sponsor incentives, that can dilute the value of common shares. This means once the merger is complete, existing shareholders may own a smaller slice of the company than expected. Potential regulatory changes: When SPACs began attracting more attention, regulators proposed new rules to improve transparency and protect investors. These changes could add more compliance hurdles and reduce the speed and flexibility that made SPACs appealing in the first place. 9 / 9 The future of SPACs: Cycles, challenges, and staying power SPACs have always followed the rhythm of the broader market. When investor confidence is high and capital is flowing, SPAC activity tends to surge — and when conditions tighten, SPACs often fade from view. After peaking in 2021, the SPAC market cooled quickly. Post-merger, many companies underperformed, and investor enthusiasm waned. By 2022 and 2023, the pipeline had slowed significantly, and traditional IPOs began to regain popularity. Even though IPOs are

6 things holding your electric car together The battery under the hood isn’t the only thing supporting your electric car — these key structural components keep your EV moving safely From the Ford F-150 Lightning to the BMW i3, electric vehicles are here to stay on dealership lots. Manufacturers introduce new models and upgrades each year to entice buyers and phase out previous generations.  EVs were once a niche market, but they’ve steadily increased their presence. Experts say the market share of EVs climbed by 25% in 2024, with 3.5 million units sold. Electric cars are closing in on their internal combustion (IC) counterparts as automakers and policymakers adopt sustainable policies.  While EVs and IC cars look similar from the outside, their internal makeup differs. Electric cars are generally heavier than gas-powered vehicles because of the battery. This sizable component stores energy and gives you enough power to drive safely.  The differences are most evident under the hood, where the engines are absent in EVs. Therefore, you don’t need oil changes, spark plugs, or exhaust systems. Instead, you get battery packs, an electric motor, and power inverters. These parts are EV exclusives you won’t find in a typical gas-powered car.  While battery packs are essential, there are unsung heroes you can thank for keeping your EV running. For example, the battery management system monitors the component’s health and temperature to ensure efficient operations. It’s the brains of the operations, letting EVs reach and maintain 300-mile ranges for long road trips.  Another underappreciated hero is the DC-DC converter, which you’ll usually find with the onboard charger near the battery pack. This component gives life to your infotainment system by converting high-voltage power to low-voltage energy. Properly functioning DC-DC converters provide electricity for lights, power locks, and windshield wipers.  You might not think about these internal parts, but EVs wouldn’t run without them. Here are six more components holding your electric car together.  2 / 7 1. Module casings Module casings are essential because they protect the electronic control units from falling apart. If the electric motor were a knight, the casings would be a suit of armor. These enclosures protect inverters, DC-DC converters, and onboard chargers from external conditions. Your EV may have dedicated casings to protect the battery management system. They safeguard against moisture, which can cause short-circuiting within the energy storage devices.   3 / 7 2. Seals and gaskets While seals and gaskets might seem minor, they’re critical in EV reliability and safety. These components prevent moisture, dust, and debris from compromising the internal electronics. You need them to keep particles out and reduce clogging risks. You can find seals and gaskets around the doors, motor housing, and battery packs. They’re helpful if you live in rainy climates and flood-prone areas.  4 / 7 3. Electrical connectors Batteries do the hard work, but they need electrical connectors to get the job done. These parts work within the EV’s high-voltage system and distribute power to the motor and inverter. You need them to charge your electric car — otherwise, you’ll be stuck in the driveway. While they help your EV run, they also affect signal transmission. The electrical connectors are the bridge between the motor and the motor controller, among other components.  5 / 7 4. HVAC components When driving an IC or electric car, you need heating and air conditioning. Experts say a car can reach 143 degrees Fahrenheit after sitting in the sun for an hour. The EV has your back with intelligent cabin climate control to keep your driving experience more comfortable. Your EV uses refrigerant compressors, condensers, and evaporators to cool the interior. Under the hood, you may see coolant hoses and clamps to connect the cooling systems.  6 / 7 5. Fasteners Priscilla Du Preez | Unsplash Fasteners are a small but crucial component inside your EV, engineered to handle the unique challenges of electric cars. They must withstand the heavy weight of sizable battery packs and the immense torque from electric motors, ensuring the vehicle is safe and stable. These fasteners join structural components like the battery chassis, suspension, and body panels. Due to their manufacturing efficiency, self-tapping screws are often the primary choice, made from strong, corrosion-resistant materials like stainless or carbon steel. 7 / 7 6. Structural supports Structural supports are essential for holding the battery packs and other components in place. The mounting system is strong enough to hold a battery and absorb impact. Some batteries weigh nearly 3,000 pounds, so reinforcement is necessary. Manufacturers insert frames and cradles to house the packs and withstand outside forces. From reinforced chassis members to braces, these components hold your EV together. Besides the battery, the motor gets support from special brackets that attach it to the chassis.  Read More

10 billionaires who dropped out of college and made it big We took a look at well-known billionaires who left college before graduating — building successful businesses without a degree. College is often seen as a key step toward financial stability, but some of the world’s wealthiest entrepreneurs took a different route — leaving school early to pursue business ventures. From technology pioneers to startup founders, these billionaires built major companies without completing a degree. The tech industry, in particular, has produced many high-profile dropouts who reshaped entire sectors. Many left prestigious universities mid-studies to focus on building their own companies, feeling like their studies would only hold them back. And the trend continues today: Figma CEO and founder Dylan Fields left college to build the design platform and is now worth an estimated $5 billion following the company’s IPO this month. We’ve compiled a list of notable billionaire college dropouts, detailing how each made the leap from student to industry leader — and the businesses they built along the way. 2 / 11 Bill Gates Kevin Dietsch / Getty Images Bill Gates enrolled at Harvard University in 1973 but left in 1975 to co-found Microsoft alongside Paul Allen. The company initially focused on developing software for personal computers, eventually creating the Windows operating system that shaped the industry. Gates’s early decision to drop out was driven by his ambition to fully commit to growing Microsoft. Though he left formal education early, Gates has used his fortunes to fund the Bill & Melinda Gates Foundation, which has multiple education initiatives. 3 / 11 Dylan Field Dylan Field left Brown University before completing his degree to co-found Figma, a cloud-based design collaboration platform. He received a $100,000 fellowship from Peter Thiel’s foundation that stipulated he must leave school and work on the company full time to get the grant money. Figma is now worth billions of dollars following its IPO this month, and Field is estimated to be worth $5 billion himself. 4 / 11 Evan Williams Taylor Hill / Getty Images Evan Williams dropped out of the University of Nebraska–Lincoln to pursue a career in technology. He co-founded Blogger in the late 1990s, one of the first major platforms to popularize blogging. Later, Williams became a Twitter co-founder. He also went on to found Medium. 5 / 11 Gabe Newell Gabe Newell dropped out of Harvard University in the 1980s to work at Microsoft, where he helped build the early versions of the Windows operating system. After a decade at Microsoft, Newell co-founded Valve Corporation, a company known for pioneering digital distribution of video games through its Steam platform. 6 / 11 Jan Koum Lachlan Cunningham / Getty Images Jan Koum left San Jose State University after getting a job at Yahoo in the 1990s. Koum went on to co-found WhatsApp in 2009, which Facebook acquired in 2014 for approximately $19 billion, making Koum a multibillionaire. 7 / 11 Larry Ellison Anna Moneymaker / Getty Images Larry Ellison dropped out of the University of Illinois and later the University of Chicago without earning a degree. In 1977, he co-founded Software Development Laboratories, which later became Oracle Corporation. Oracle grew into one of the largest software companies globally, dominating database management systems and making Ellison one of the wealthiest executives in tech. 8 / 11 Mark Zuckerberg Craig T Fruchtman / Contributor / Getty Images Mark Zuckerberg left Harvard University in 2004 during his sophomore year to focus on developing Facebook. Originally launched as a social networking site for college students, Facebook then expanded to become a global social media behemoth, acquiring Instagram and WhatsApp, which along with Facebook are now all housed under parent company Meta. 9 / 11 Michael Dell Win McNamee / Getty Images Michael Dell started a computer business from his dorm room, then dropped out of the University of Texas at Austin in 1984. His company, Dell Technologies, grew into a leading manufacturer and seller of personal computers and IT infrastructure. 10 / 11 Steve Jobs Justin Sullivan / Getty Images Steve Jobs left Reed College in 1972 after one semester but continued auditing classes while focusing on Apple’s early development. Along with Steve Wozniak, Jobs co-founded Apple, driving innovation in personal computing, mobile devices, and digital media. 11 / 11 Travis Kalanick Theo Wargo / Getty Images Travis Kalanick dropped out of UCLA to work on Scour, a startup he co-founded that was an early peer-to-peer file exchange service. He later went on to co-found Uber. Uber’s rapid growth spurred regulatory and legal challenges worldwide and simultaneously made Kalanick a billionaire. Read More

Last week’s labor market and GDP data followed the Bank of England’s 25 basis point rate cut to 4%. However, a 5-4 vote in favor of cutting rates underscored the Monetary Policy Committee’s divided stance on inflation and the labor market. Today’s inflation figures reduce the likelihood of another cut in September, but economists still anticipate one additional reduction in 2025. ING Economics discounted the latest GDP report: “We doubt the Bank will take too much inference from the stronger second quarter growth performance. At the very most, it might bolster the arguments of the hawks who are pushing for a slower pace of rate cuts from now on. But in practice, this will much more heavily depend on forthcoming inflation and jobs data.” Looking ahead, ING Economics added: “We certainly expect the GDP figures in the second half of the year to have a weaker flavour to them. The jobs market is under pressure; payrolled employment has fallen in eight out of the last nine months.” Whether the BoE will ease rates in November or December will hinge on the next round of CPI and labor market data. For now, the July data gives the hawks a stronger voice. GBP/USD Volatility Post-Inflation Data Ahead of the inflation report, the GBP/USD briefly climbed to a high of $1.34927 before falling to a low of $1.34616. Following the report, the pair briefly slid to a low of $1.34757 before surging to a high of $1.34980. On Wednesday, August 20, the GBP/USD was up 0.01% to $1.34907, reflecting reduced market bets on a September BoE rate cut. Read More

Updated: Aug 19, 2025, 12:35 GMT+00:00 Key Points: Home Depot misses earnings and revenue for the second quarter in a row, but sticks to its full-year forecast. Q2 comps rose 1% globally and 1.4% in the U.S., marking just the second YoY increase in the last 11 quarters. Pros now account for 55% of sales as HD expands with $22B in acquisitions targeting trade professionals. Home Depot Holds Forecast Despite Miss; Investors Focus on Margins, Pro Segment Home Depot reaffirmed its full-year forecast Tuesday despite missing Wall Street’s earnings and revenue expectations for the second straight quarter. While the results came in just a hair short, the broader takeaway is that the retailer is holding its ground in a tough housing environment. Traders are watching closely as shares trade lower pre-market, down about 1.8% to $387.53. Mixed Quarter, But Positive Sales Momentum The fiscal Q2 print showed adjusted earnings per share of $4.68 vs. $4.71 expected, with revenue at $45.28 billion, just shy of the $45.36 billion forecast. Still, revenue rose nearly 5% from the same quarter last year. Comparable sales were up 1% globally and 1.4% in the U.S., marking only the second year-over-year gain in the last 11 quarters. July stood out, with comps up 3.3%, suggesting some late-quarter strength. That being said, this marks the first time since 2014 that Home Depot has missed both earnings and revenue in a quarter — not a great stat for the bulls. DIY Slowdown Persists, Pros Pick Up Slack The homeowner “deferral mindset” is still in play — folks are holding off on big projects unless there’s a compelling reason to move. But look, there’s a clear shift in strategy: Home Depot is betting big on the pro segment. Between the $18.25 billion SRS Distribution deal and the upcoming $4.3 billion GMS acquisition, the company is doubling down on trade professionals. According to CFO Richard McPhail, pros now make up 55% of sales, which could help insulate the company from softness in the DIY crowd. Margins in Focus as Traffic Slips Customer transactions dropped to 446.8 million from 451 million last year, but the average ticket rose to $90.01. That suggests pricing power is holding up for now, and the company isn’t feeling pressure to pass on new tariffs to consumers — at least yet. Most imports landed before new duties hit, and Home Depot hasn’t changed its pricing stance. But if tariff talks stall, the market will want to see how much cost pressure starts to bleed into margin guidance. Technical Picture and Short-Term Outlook Daily Home Depot, IncTechnically, HD stock is pulling back toward support around $382.92–376.81. The first level is the 200-day moving average. The second target is the mid-point of the June to August range. If this area breaks, next support sits near the 100-day moving average closer to $372.30. On the upside, resistance sits back near $402.79-407.82. More likely than not, we’ll see the stock continue to consolidate as investors digest the mixed results and assess how much of the pro-side optimism is already priced in. Bottom Line Home Depot’s strategy is sound — lean on the pros while the housing market stays quiet — but earnings misses don’t inspire confidence, especially with shares already up modestly this year. With comps turning slightly positive and big-ticket sales improving, bulls may look at pullbacks as potential buying opportunities. But again, until we see real movement in housing or mortgage rates, upside could be limited. More Information in our Economic Calendar. About the Author James Hyerczyk is a U.S. based seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, specializing in chart patterns and price movement. He is the author of two books on technical analysis and has a background in both futures and stock markets. Advertisement Read More

Opinions expressed by Entrepreneur contributors are their own. Over the last 10 years, investing in and leading companies, I’ve wrestled with one big question: How do you build something that lasts in a world that changes faster every day? If you’re an entrepreneur, you’ve probably felt it too. There’s always a new AI tool, a new social platform or a new business model. It’s not just noise — it’s acceleration. Thanks to positive feedback loops (like Wright’s Law), the pace of technological change really is speeding up. Better tools lead to better tools. It’s exponential. So how do we keep up? How do we lead teams, build products and stay relevant without burning out or constantly pivoting? Here’s what I’ve learned: You need a North Star. A clear purpose that guides every decision — no matter how fast the world changes. Related: Stop Searching for Your Purpose — It’s Delaying Your Success. Here’s What to Focus on Instead. Purpose over product Technology is rewriting the rules daily. If your business is built around a single product or service, it’s only a matter of time before someone else builds something better, cheaper or smarter. But if you’re anchored to a purpose — a meaningful problem you’re solving — you can’t be disrupted. You might need to change how you deliver on that mission, but the mission itself keeps you steady. Let me give you a few examples that have shaped my thinking: Tesla started with expensive electric cars. Now it builds batteries, solar panels, a charging network — even autonomous taxis. All in service of one purpose: to accelerate the world’s transition to sustainable energy. John Deere is known for tractors. But today, they employ just as many software engineers as mechanical ones. Why? Because their mission isn’t just selling green machines — it’s empowering the people who feed the world. That now includes satellite data, AI and automation. At Singularity University, where I serve as CEO, our purpose isn’t programs or events — it’s to educate, inspire and empower leaders to create breakthroughs powered by exponential technology. That’s our filter for everything. If it doesn’t align with the mission, we don’t do it. What this looks like in practice If you’re a founder, CEO or builder, here’s how I recommend you apply this thinking: Define your purpose. Not what you do, but why you exist. What’s the problem you’re solving and why does it matter? Get your team aligned. People don’t want to just punch a clock — they want to work on something that matters. Use your purpose as a filter. New product idea? Strategic hire? Partnership? Ask: Does this move us closer to our mission? Let go of distractions. Misaligned initiatives confuse your team and dilute your energy. Focus builds momentum. Align your business model. Purpose and profit should work together. The more impact you make, the more value you create. Stay flexible. Tech and markets evolve. You don’t need to cling to what worked before — but your mission should stay rock solid. Final thought There’s no stopping the pace of change. But you don’t need to outrun it. You need to out-align it — with purpose. In my experience, there’s no better edge than knowing exactly why you’re doing what you’re doing. When your team is aligned around that North Star, it’s not just your product that wins. It’s your brand, your culture and your long-term relevance. That’s how you build something that doesn’t just survive disruption — but drives it. Read More

Opinions expressed by Entrepreneur contributors are their own. Let’s cut to the chase: most companies go to conferences to check a box, not to drive results. I’ve worked with everyone from billion-dollar brands to scrappy startups. I’ve seen booths with six-figure budgets generate zero pipeline and a LinkedIn DM campaign outperform an entire sponsorship package. The reason? Most companies treat conferences like a high school science fair — look pretty, hand out freebies, hope someone likes your volcano. Here’s the brutal truth: If your event strategy is built around foot traffic and branded socks, you’re already underwater. Conferences can still deliver serious ROI. But only if you stop thinking about them as standalone tactics and start treating them like what they really are: a live-action funnel with a very short attention span. Step 1: Get ruthlessly clear on why you’re going This sounds obvious. It’s not. Most companies attend events with vague goals like “brand awareness” or “thought leadership.” Translation: no real strategy. If you can’t answer this question — “What does success look like from this event, and how will we measure it?” — cancel the booth. Your “why” should fall into one of three categories: Lead generation (measurable pipeline and conversion) Brand positioning (keynote, panel or media presence) Strategic partnerships (investor intros, co-marketing, business development) Pick one primary goal. Then reverse-engineer your entire presence around it. Everything else is noise. Related: 17 Must-Attend Conferences for Entrepreneurs Ready to Scale Step 2: Craft a message that cuts through the noise Nobody cares about your “AI-powered scalable solutions” if that’s all you’re saying. You need a message that punches. Something that aligns with the conference theme but actually says something. For example, one of our B2B SaaS clients recently sponsored a fintech event. Everyone was talking about “frictionless onboarding.” Snooze. We reframed their message as: Stop onboarding users who’ll churn in 30 days. It turned heads. It made execs stop and say, “Tell me more.” That’s the bar. Your message should be: Clear (no buzzwords) Controversial (just enough to spark conversation) Consistent (across booth, decks, social and follow-up) Step 3: Pre-game like a pro You don’t show up to a marathon without training. So don’t show up to a $50,000 event without a warm list. Your pre-conference playbook should include: LinkedIn outreach (three to four weeks out): Target attendees, engage with event hashtags and join relevant groups. No pitches — just real engagement Direct invites: Email past leads or ideal customers: “I’ll be at [Event]. Let’s meet IRL if you’re attending.” Organic buzz: Have leadership — not just the company page — post about why you’re attending and what you’re bringing Remember, ROI doesn’t start at the conference. It starts the moment your name hits the attendee list. Step 4: Focus on booth experience, not booth design You don’t need a spaceship booth. You need meaningful conversations. Train your team to do more than demo software. Teach them to: Ask smarter questions Listen for pain points Offer real value (not just tchotchkes — think insights or content) Capture context for every lead (“Spoke about [X] challenge, referred by [Y]”) Also — script your follow-up before the show starts. A generic “Great to meet you at [Event]” email kills momentum fast. Related: How to Win Over the Room With Effective Persuasion Skills Step 5: Follow up like money’s on the line The event ends when the lights go off. Your window of influence doesn’t. Here’s a seven-day follow-up cadence that actually works: Day 1: Personalized email referencing your conversation plus a relevant asset Day 3: LinkedIn message with a short, value-driven follow-up Day 5: Add to nurture stream based on interest or product line Week 2: Send a post-event content piece — e.g., “5 things we learned at [Event name]” Then — debrief. What worked? What didn’t? Document it. If sales aren’t in this conversation, your next event is already a sunk cost. Bonus: Rethink sponsorship ROI Here’s a hot take — most sponsorship packages are overpriced hype. Unless you’re getting: Guaranteed stage time Tier-1 placement in attendee materials Verified audience data before the event You’re probably better off hosting a private dinner with ten decision-makers or doing a focused side activation. Relevance beats visibility every time. A 20-minute meeting with a CMO is worth more than 2,000 logo impressions. Final word: Be the booth they remember You don’t win at events by being the loudest. You win by being the clearest, the most relevant and the hardest to ignore. So before you blow another five-figure budget on glossy signage and lukewarm leads, ask yourself: Are we going to this event to show up — or to show out? If it’s the latter, you’re already ahead of the pack. Read More

Best Buy is revealing a new third-party marketplace that opens the doors to smaller vendors, in an effort to boost variety and sales. Best Buy launched the marketplace on Tuesday through its website and app, highlighting that the move more than doubles the number of items available in the “largest expansion ever” of Best Buy’s product offerings, according to a press release. The company’s online marketplace introduces hundreds of new products to Best Buy across categories such as seasonal decor, office and home supplies, and movies and music. For example, it includes pots and pans from brands like Martha Stewart and Crock-Pot, and adds musical instruments like guitars and drums for the first time. Best Buy also plans to add licensed sports merchandise through the marketplace “soon.” Related: Walmart Wants to Help U.S. Entrepreneurs Get Their Products on Its Shelves. Here’s How to Get Your Stuff in the Door. “Our customers have always looked to us to bring excitement and inspiration in ways only technology can,” Best Buy’s Chief Marketplace and eCommerce Officer, Frank Bedo, stated in a press release. “With marketplace, we’re able to give them not only more of the latest technology, but a massive new collection of products outside of the tech space, so we can truly offer the full experience they need.” The marketplace is similar to Amazon and Walmart in that it depends on third-party sellers to sell products and takes a portion of the sale as a commission. Customers can return products bought through the marketplace directly to a Best Buy store or ship them back to the seller. Best Buy’s Chief Customer, Product, and Fulfillment Officer, Jason Bonfig, told CNBC that the new marketplace will fill in gaps in the retailer’s offerings, such as cases for older phones and batteries for older cameras. Smaller sellers with niche products can find a home in the new Best Buy marketplace, he said. Related: Amazon Prime Day 1 Was the ‘Single Biggest E-Commerce Day So Far This Year,’ According to New Data Best Buy’s new move arrives after the company posted declining revenue. Best Buy reported its first-quarter earnings in May, noting that domestic revenue for the quarter was $8.13 billion, a 0.9% decline from the previous year. Best Buy’s market value was $15.69 billion at the time of writing, with its stock down over 14% year-to-date. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. Read More

Even the most successful people tend to look back with some regrets. When it comes to starting a business, entrepreneurs face countless tasks and decisions: from coming up with an idea to conducting market research, creating a business plan and pitch, gathering user feedback, maintaining positive cash flow and so much more. Sometimes the best approach is only clear later on — when hindsight is 20/20. Some entrepreneurs wish they’d started their business earlier instead of waiting for “perfect” and delaying success. Others could have benefited from more mentorship to avoid common pitfalls and costly mistakes. Founders who opted for fundraising over bootstrapping might feel boxed in by their investors. The list goes on. Over nearly five years, I’ve interviewed more than 100 entrepreneurs who started businesses worth $1 million to $1 billion. Regardless of how high-profile the founder or how much revenue they’ve generated, they, like all entrepreneurs, have had to contend with some steep learning curves on the road to success. Related: I’ve Interviewed Over 100 Entrepreneurs Who Started Businesses Worth $1 Million to $1 Billion or More. Here’s Some of Their Best Advice. In the past several months, I’ve asked many entrepreneurs who started side hustles that grew into full-time businesses the same question: If you could go back in your business journey and change one process or approach, what would it be, and how do you wish you’d done it differently? Despite the fact that all of those interviewed had built lucrative businesses, many of them revealed the same regret about their early entrepreneurial days: They wished they hadn’t tried to wear every single hat for so long — and had hired people to help them out a lot sooner. Read on to see why five entrepreneurs — all of whom run businesses generating at least $1 million a year — say that hiring early on could have helped their startups grow faster. Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here. Michelle Jimenez-Meggiato and Andrea Meggiato, founders of incredifulls New Jersey-based couple Michelle Jimenez-Meggiato, 36, and Andrea Meggiato are the founders of the frozen snack brand incredifulls. The couple launched The Pizza Cupcake, which would become incredifulls, as a weekend side hustle at the Brooklyn, New York food market Smorgasburg in 2018 and sold out of their pizzettas immediately. Then the founders used $20,000 in personal savings to help grow the business, ultimately landing a deal with Lori Greiner on Shark Tank and nationwide retail distribution with millions of dollars in annual revenue. Image Credit: Courtesy of incredifulls Looking back, Jimenez-Meggiato would have gotten the right help and systems in place as soon as possible. “In the beginning, it’s tempting to do everything yourself to save money,” Jimenez-Meggiato says, “but bringing in part-time support and interns can free you up to focus on the work that drives the business forward. Even small improvements in how you operate make scaling much smoother and save tremendous time and energy down the road.” Related: This Couple’s ‘Scrappy’ Side Hustle Sold Out in 1 Weekend — It Hit $1 Million in 3 Years and Now Makes Millions Annually: ‘Lean But Powerful’ Ross Friedman, founder of Slacker Media Group Ross Friedman, 26, of Boston, Massachusetts, is the founder of Slacker Media Group, a live events company curating experiences at the intersection of music, lifestyle and entertainment. Friedman started his business at the end of 2016 when he was just 16 years old. He ran it as a side hustle while he was a full-time student in college. Over the years, Friedman took the side hustle from an initial $3,000 profit to more than $4 million in lifetime sales and over 250,000 attendees. Image Credit: Courtesy of Slacker Media Group Friedman also wishes he’d known the value of hiring earlier. “I have always had a great team around me, from the early days to now, but for most of my career, I was the only person working on the project full-time,” Friedman says. “I made myself responsible for so much, and in the end, it limited the growth of the business. Learning to bring people in and to delegate tasks efficiently has changed my business and my life.” Related: This 26-Year-Old’s Side Hustle Turned Full-Time Business Led to $100,000 in 2.5 Months and Is On Track for $2.5 Million in 2025 Charles Eide, founder and CEO of EideCom Charles Eide, 40, is the Minneapolis, Minnesota-based founder and CEO of corporate events company EideCom. As a teenager, Eide side-hustled as a DJ, then began to produce major events at the University of St. Thomas. EideCom is seeing between 30% and 40% year-over-year growth and did $20 million in revenue last year, on track for $100 million in revenue by 2030. Image Credit: Courtesy of EideCom Eide admits he should have expanded his team sooner to tap into a wider range of expertise. “I would have hired better people earlier,” Eide says. “In the beginning, you think you can do it all. After gaining experience, I’ve realized some people are much better at certain things than I am, and I should have hired them sooner.” Related: His Teenage Side Hustle Made $200 on a Good Night — Now the Business Earns $20 Million a Year: ‘Like Having X-Ray Vision’ Victor Guardiola, founder of Bawi Victor Guardiola, 27, of Austin, Texas, is the founder of lower-sugar agua fresca brand Bawi. Guardiola started Bawi as a side hustle; he sold the initial product at farmers’ markets, doing about $2,000 in sales a month in the early days. Sales grew to $10,000 a month in Bawi’s first year, “enough traction to realize that we were onto something,” the founder says. Now the business is on track to surpass seven-figure annual revenue this year. Image Credit: Courtesy of Bawi Guardiola stresses the importance of hiring the right people sooner — and letting go of the wrong ones, too. “Those