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How to Start and Grow a Business, Advice from the Founders

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  • Despite tumultuous times, the founders said it was a good time to learn valuable business lessons.
  • Understanding the inevitable ebbs and flows of business will be key to success in 2023.
  • From money management to the best ways to reach an audience, here are their top tips.

The last three years have been tumultuous for the founders.

COVID-19 changed the way many ran their businesses, talk of a possible recession dominated the second half of last year, and recent sweeping layoffs at big tech companies fueled job fears. future. But it was also a great time to learn some valuable lessons, the founders told Insider.

Many have realized that using new technologies, creating positive work cultures, and understanding the inevitable ebbs and flows of business are key success factors.

Founders who hit six-figure earnings last year shared the most important lessons for starting and growing a business amid fluctuating economics and changing consumer behavior.

1. Leverage new technologies to stay relevant

A post shared by Seth Fowler (@realsethfowler)

Using new technologies as they emerge has helped Seth Fowler grow his small business.

Fowler first started his career as a sneaker reviewer on YouTube before launching his sock company, Apthcry. In the past, he used long YouTube videos to build his sneaker-head community and market his sock business, but last year he turned to YouTube Shorts and TikTok videos in hopes of catching on. new customers.

In order to progress through the changing times, Fowler also began experimenting with 3D printing to test new methods of shoe production. Creating tech-driven content has helped him expand his audience even further, he said.

“Finding different ways to try new things in sneakers has been a key aspect” of growing this year, a strategy he’s embracing in 2023, he said.

2. Look at your brand story

As financial stressors linger, Larissa May is leaning into her personal story to grow HalfTheStory, a mental health nonprofit.

“HalfTheStory was created by a young person who wants to change the future so other kids don’t have to go through what I went through,” she said. “It happens to be the most relevant selling point we have, so I learned the importance of this story and I’m hanging on to it.”

3. Take a holistic view of finances

Gina Luari, founder of The Place 2 Be, said understanding finances will be key in 2023.

courtesy of Luari



Gina Luari, owner of Connecticut-based brunch group The Place 2 Be, said a key lesson she learned this year was to take a holistic view of her business finances.

“Every business has ups and downs, business is cyclical and everyone needs to understand that,” she said. “But understanding where your cycles are, knowing where those ups and downs are and why they’re happening is really important.”

When business fluctuates, she asks herself questions such as “is it the weather”, “is it the environment” or “is it because we changed something on our menu” so that she can better understand and control his results.

4. Company culture is decisive

Meghan Lee, the owner of the Heirloom restaurant in Delaware, has vowed never to hire an employee just to fill a role. Instead, she aims to “hire someone because they’re the right person, they get on well with everyone, and they’re considering what I’m considering,” she previously said. to Insider.

Lee recently restructured her staff to create a collaborative environment, which has boosted employee morale, productivity and interest in the company’s success, she said. “It was really about building a culture,” she added.

Founders who want to emulate these results should consider checking in with teammates, monitoring co-worker interactions and staying mindful of employee engagement, she said.

5. Do less with more impact

Last year, Emily Borders, co-founder of Highwire PR, took part in a week-long surf and yoga retreat to take time off from work and reflect. She learned skills in stress management and coping, which helped shape her leadership style, she told Insider.

“It’s part of an entrepreneurial approach, to have a penchant for action,” she said. “But it can also distract you from what’s most important.” Instead, she learned to do fewer things with more impact.

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