Opinions expressed by Entrepreneur contributors are their own. Key Takeaways Being a top performer doesn’t automatically make someone a good manager. Before you promote, walk the candidate through what the role actually requires, and ask directly whether they still want it. Separate recognition from promotion. Consider rewarding strong employees with higher pay, more ownership or other opportunities rather than promoting them into a role they may not want or be suited for. Give candidates real decision-making responsibilities to assess their readiness. If they want the job and aren’t fully ready but could grow into it, provide mentoring and training to…
Author: Staff Writer
When Soon Hagerty was just five years old, she spent 12 days crammed on a boat with about 40 people, fleeing Vietnam for a refugee camp in Indonesia. Her family arrived in America with just $300 and nine mouths to feed. Since then, she’s launched a luxury PR firm, co-founded a global communications agency, opened The Good Bowl restaurant in northern Michigan and created Boundless Futures Foundation, which gives female founders $50,000 grants. Her secret? She says it’s not about being fearless — it’s about taking action even when you are filled with fear. Your journey in life and business…
In 2017, British journalist David Goodhart offered an enlightening read of Western politics. In The Road to Somewhere, he split our societies into two broad groups. The “Anywheres,” about a quarter of the population, were university-educated, urban and mobile. Their identity relied on degrees and successful careers. The “Somewheres,” more numerous, were less educated. They had strong roots in one place and believed in nation and family. For Goodhart, being an Anywhere meant being on the winning side of globalization, often progressive, open to change and comfortable with diversity. Therefore the Somewheres felt left behind. That’s why Brexit and Donald…
Losing more ground in the fight against climate change, humanity is heading for a hotter world than experts projected last year — and the United States is a big reason for that, a new United Nations report says.If all the countries do what they promise to reduce heat-trapping emissions, Earth will likely still warm another 2.2 degrees Fahrenheit (1.2 degrees Celsius) above current temperatures, according to Wednesday’s update of climate calculations by the United Nations Environment Programme. That’s about two-tenths of a degree Fahrenheit (0.1 degrees Celsius) more than last year’s projections by the same science team.“This is a worse…
Like so many Americans, Jenny Escolastico has watched wearily as the cost of living has risen, straining her household budget. But as a mother of two children under 5, she faces added pressure that could shape how she votes in November: childcare costs.Escolastico’s household outside Allentown, Pennsylvania, is relying solely on her husband’s income. She’s staying home with her children, at least in part because she simply can’t afford to work.“What I would be spending on childcare would be more than what I would be making if I were working full time,” said Escolastico, an Air Force veteran who later…
Media companies continue to struggle as consumers pivot away from traditional forms of content. The latest example comes from the BBC, which has announced it will cut over 100 jobs. The U.K.-based broadcaster is attempting to save £500 million ($670 million) over the next two years. BBC is primarily funded by a licensing fee, a £180 annual payment that provides viewers with all TV channels, streaming services, and more. It’s designed to keep the BBC “free of advertisements and independent of shareholder and political interest” in the U.K. However, the number of TV licenses sold has shrunk in recent years. …
In 1847, Ignaz Semmelweis asked the doctors in the Vienna maternity clinic where he worked to wash their hands in a chlorine solution before examining patients. Deaths on the ward fell from about 18% to about 2% within two months. In healthcare, small changes in practice can have disproportionately large effects, because the healthcare system affects everyone and the stakes are literally life and death. We think AI has the potential to revolutionize healthcare, contributing to a dizzying array of changes. But institutions are failing to adjust to meet the moment, despite widespread interest in change from patients and providers.…
The entertainment company Live Nation has been promoting and running concerts in venues around the world for decades, bringing touring acts to whatever concert hall or amphitheater an artist could fill. Now, the company is focusing specifically on designing and building its own concert halls to fill holes in the market, making what the company calls a “meaningful, long term investment” in projects to rethink the experience of seeing live music. Since its merger with Ticketmaster in 2010, a deal then estimated at $2.5 billion, the company has grown to become one of the biggest players in the global live…
The beauty section at my local Whole Foods just got a glow-up. Steps from the entrance, just past the fruits and vegetables, the beauty aisle is now overflowing with dozens of new brands and products. Alongside the Pacha bath bombs and Dr. Bronner’s soaps that have long been staples, you can find Cocokind’s electrolyte water cream, a moisturizer that promises to give you the glassy skin that’s so popular on TikTok. Magic Molecule vows to clear acne with a spritz of its viral skin spray. Then there’s Indie Lee. Fifteen years after helping pioneer clean skincare, the brand just debuted…
A big challenge for founders is persuading people that something should exist before there is enough evidence to feel entirely certain of it themselves. While you need conviction to do this, you also need to be willing to learn things that may change your mind, even if it seems it will derail your plans. This is where curiosity can be a business advantage. Staying curious means you have a chance to learn from something others might dismiss because it does not fit what they expected. The reality is that unexpected things happen all the time in a startup. Users often…