Stepping Into Your Power as a Female Leader

March 10, 2021 5 min read
Opinions expressed by Entrepreneur contributors are their own.
As an executive coach, I get the opportunity to work with a diverse set of leaders: men, women and nonbinary individuals from different regions, professions and industries. Though leadership challenges differ from organization to organization and person to person, there are some common themes. For example, almost all leaders, at some point in their careers, struggle to assert clear and actionable requests and delegate effectively.
For women leaders, these challenges multiply due to structural disadvantages and ingrained behaviors that sometimes work against their ability to lead effectively. If you’re a woman in a position of leadership, how often have you felt hesitant about asking for a raise or offering critical feedback to an employee? Or, if you haven’t encountered these issues yourself, how many leaders do you know who have? I think we both know the answer. 
Based on my observations of female executives, I offer three pieces of advice that can create extraordinary results for clients and teams alike.
Related: Brooklyn-Bred Business Owner Starts Student-Entrepreneur Grant in Immigrant Parents’ Names
1. Own your experience
The single biggest blocker to most women’s career advancement is not a lack of skill, experience or education; it’s imposter syndrome. As a result, most female leaders I’ve worked with have a tendency to diminish their experience. For example, a woman may fulfill 9 out of 10 requirements for a job, but she may not apply to the position because she is missing one of the skills listed. It breaks my heart to see talented and inspiring women playing small and missing opportunities that are then won by less qualified peers.
If you suffer from a case of imposter syndrome, I recommend taking inventory of your strengths (personal, professional, technical, etc.) and achievements. What do you excel at? What sets you apart from others? What are significant challenges you have overcome throughout your career? Reflecting on your positive traits and strengths is a helpful exercise to shift your energy into the right frame of mind and inspire action. Write down your accomplishments, strengths and unique gifts. Own your success, because you worked hard to get where you are.
Related: 10 Powerful Women in Tech Share Their Best Advice for Managing a Team
2. Express your expectations unapologetically
It is impossible to get what you want if you haven’t defined your expectations. Reflect and clearly articulate them verbally or on paper and think about the larger context of why you expect what you want. Providing yourself with the context and justification will increase your chances of doing the same in crucial conversations with your manager, business partners or peers.
Once you identify your goals and understand your “why,” remove all subjectivity (i.e., emotion) and keep your ask objective. Why is doing so important? Most of the time, subjective asks are driven by emotions and can blur the context, while objective reasons are factual and tangible. If your ask is subjective, reframe it in an objective manner.
For example, a subjective comment might be, “I am not being utilized to my fullest potential. I want to take on more responsibility.” Transform this into an objective approach: “I have repeatedly exceeded my goals based on my performance reviews and achieved X% growth (or employee satisfaction, project success, etc.), and I see the opportunity to apply the same principles of developing a new strategy (or mobilizing a strong team, hiring talent or fill in the blank) by leveraging my strengths, such as problem-solving (communication, collaboration or fill in the blank). Personal growth is an important value and one I need to integrate into my daily work to stay motivated and energized.”
See the difference?
One last thing: It’s critical that you are unapologetic about your request. Many female leaders have been habituated to confuse being assertive with being overbearing and grating. But if you fail to ask for what you need, then you’ll continue not getting what you want. Don’t be afraid to lean in.
Related: The Top 10 Mistakes That Keep Women Entrepreneurs From Scaling to $1 Million
3. Accept one size larger; you will grow into it
The fact of the matter is that you will never be 100% ready for a growth opportunity. Real growth comes with taking on a new challenge with a degree of uncertainty, a healthy dose of curiosity and an inner excitement that says “go for it.” Ask yourself, “Will this opportunity expand my skills, experience and personality?” The answer will give you a sense of what to do.
It is an incredible experience to watch female leaders rise to the occasion after stepping into their power and honoring their experience. You must take ownership of your skills and talents and refuse to take them for granted. Take always one size larger and trust that you will grow into it.
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How to Protect and Retain Control Over Your Business

March 10, 2021 6 min read
Opinions expressed by Entrepreneur contributors are their own.
Recently, I was in a Zoom meeting where a founder was panicking at the prospect of closing his Series A. I was taken aback as I expected him to be proud of this achievement. Immediately, I asked him why he was concerned. 
“Taking on this capital requires us giving up a board seat,” said the founder. “This means that the investor who takes a seat on the board will really be able to exercise control. It’ll be over. I don’t know what to do!” 
“Calm down,” I said. “Is this really what you are worried about?”
“Yes! I poured everything into this,” said the founder. 
I immediately responded, “you know you’re not the first to go through this and there are various mechanisms you can put in place to ensure you do not lose control over the destiny of your business.” 
Unfortunately, the above exchange is nothing new for me. Many founders believe that as their business scales, they will inevitably lose control of their board — and thus the strategy and trajectory of their business — to various external forces like investors or other senior executives. They read about the ousting of various founders like Travis Kalanick at Uber or even Steve Jobs at Apple and naturally get nervous. 
Unfortunately, the data bears this out. In a study of approximately 5,000 companies, founders generally retained only about 45% of total ownership and had to give up considerable board control after the Series A round. 
Fortunately, there are various ways that you can protect and control the destiny of your business even as it scales to new heights and you need to bring on new stakeholders. 
The first, and easiest way to do this, is to avoid external capital investment for as long as you can and seek to fund the company through cash-flow or founder investment. 
Yet even if you require a capital raise, you can still use various mechanisms to remain in control of the trajectory of their business. These include specific provisions on types of issued stock and board protection clauses. 
Lastly, you can recruit a set of outside advisors to act as advisors or even independent board observers or members to retain a level of influence towards the trajectory of your company. 
Don’t take the money if you don’t need it
Many founders believe that to grow, they need to raise capital. And that as a result, they need to give up something more than equity in the transaction, like a board seat or advisory position. 
While many later-stage financing rounds, especially Series A onwards, require founders to give up a board seat, there is one easy way to avoid this — avoid raising venture capital. 
One of the first ways to do this is to get the business to profitability. This means scaling down non-essential functions, non-essential operations, and conducting a detailed audit. Even though you may think your company is incredibly lean, it can always be leaner. 
Yet another way to avoid taking on venture capital is to organically fund the business with founder investments. One easy way to do this is to tranche investments at different stages rather than making one single investment upfront.
One great example of the above is Mortgage Automator. The founders have avoided taking on external capital by focusing on both extreme profitability and multi-stage founder investments. Rather than just investing one tranche of capital at the start, the founders have invested successive tranches of capital to grow their business even further. 
Related: Why A Carefully Thought-Out Term Sheet Can Be The Magic Bullet For VC Success
Mechanisms to maintain control
Due to a variety of circumstances, many founders have to raise venture capital to grow their business. 
Fortunately, there are many tried and true mechanisms that founders can employ to ensure they maintain some semblance of power over their business. 
First, founders and investors can negotiate board provisions in the term sheet before a deal is completed. Other than investment terms, board control, board member nominations, and board observer makeup are often the most negotiated. Many founders do not realize how much of an upper hand they have in negotiation; which is especially true if many firms have a term sheet out in a competitive bidding process. 
Second, founders can alter the type of stock issued in the business. Working with their counsel, founders can create different classes of shares that have “super” voting rights allowing a small group of shareholders to effectively retain control over the business while also allowing new investors to buy in at a fair market price. 
Use advisors to your advantage
Advisors are critical to the success of any early-stage company. From early-stage fundraising and hiring to customer introductions and mentorship, advisors fill critical skills and knowledge gaps to help companies scale upwards. 
Advisors can also be crucial independent yet allied board members or observers if investors also demand a board seat during any financing round. By recommending that an additional advisor assume a board member or observer role, founders both even out the playing field and allow an individual with greater knowledge of the business, not to mention a personal relationship with the founders, to assume a role of greater responsibility. 
A great case study of this is the advisory board makeup of Reframe Care, an insurance technology business. Reframe focused on assembling a group of advisors before raising capital knowing that having more experienced voices in the room would be advantageous.
Related: 7 Top Advisors For Entrepreneurs Eager To Build Their Business
The path to security
Many founders are understandably concerned that as they raise capital, they will have to give up control to investors. Fortunately, there are many ways to avoid this including not raising venture capital in the first place, negotiating the right terms with investors, and using advisors to play critical and key allied roles.

When Is My Third Stimulus Check Coming?

If you qualify, it should be arriving soon.
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March 10, 2021 2 min read
As you’ve probably heard by now, President Biden is potentially mere hours away from signing his American Rescue Plan into law. The $1.9 trillion Covid-relief package, which will allocate billions of dollars in targeted assistance to states and municipalities, schools, national vaccination efforts and other areas of need, comes virtually a full year after last spring’s similarly sweeping CARES Act.
The latter bill earmarked up to $1,200 per individual in no-strings-attached stimulus checks (or up to $2,400 per household) for millions of Americans and their dependents. Late last year, then-President Trump enacted something of a skinnier relief package that allowed for a second round of stimulus checks to those eligible, but with maximum payments halved. 
And after much partisan handwringing, the American Rescue Plan — once officially on the books — will re-up those payments to as much as $1,400 per individual and $2,800 per household, with additional checks for any dependents. However, as a concession to moderate Democrats, there are new annual-salary caps on eligibility, among other adjusted guidelines (full text of the bill is here, and the IRS will likely soon be publishing concise stimulus-check guidance a la this FAQ from the last round). 
Related: Senate Votes to Clear Way for $1,400 Stimulus Checks
So, assuming you meet the criteria, when will yours arrive? Soon. Certainly with greater haste than the second round, which was prolonged interminably as talks around the broader second relief package stalled for months. But once said second relief package became law just after Christmas, the checks were ultimately began arriving in folks’ accounts and mailboxes over the next couple of weeks. And analysts anticipate a similarly speedy deployment post-Rescue Plan. 
One analyst cited by CBS News went so far as to remark, “By next weekend, a couple making less than $160,000 could well have $2,800 deposited into their checking account.” And that tracks with Biden’s recent assurance that the money will begin making its way into Americans’ wallets “as soon as” Congress passes his legislation.
We recommend continuing to monitor the IRS’ website for any updates, and to consult your employer or accountant — or whomever has a handle on the stimulus specifications — with any questions about your eligibility. 

Will WixAnswers Become A Player In The Crowded Customer Service Platform Market?

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I’m fascinated by the origin stories of companies, particularly in the customer service and experience space.
How they came about?
Why they came about?
I remember speaking to Mikel Svane back in 2012 about how he and his colleagues were frustrated at the state of customer service software, how unfriendly and hard to use it was and how they wanted to make it more beautiful and less boring. And that’s what drove Mikkel and his co-founders to start Zendesk.
Their story is not uncommon. Someone sees or experiences something that they don’t like, and they set about building a solution to solve that problem.
So, I thought I was potentially in for the same sort of story when offered the opportunity to chat to Elad Eran, Founder and CEO of WixAnswers, recently to find out more about their story.

However, WixAnswers has a very different origin story as it starts with Wix.com, one of the leading players in the website building platform space.
Eran was the fifth employee at Wix and served as the VP of customer solutions for nearly 12 years. In that time, he built their customer support team from 0 to 1,500 people.
Now, Wix’s approach to customer service has always been self-service led, which is understandable given the nature of their platform, economics and target audience. But, as they scaled their support team, Eran found that none of the tools in the market fit with what they wanted to do.

At the time, they wanted to see what help center articles their customer had been reading, and that couldn’t help them before they escalated their query. They believed this would give them more insight into how their knowledge base was performing and provide more context for their agents regarding the problems that their customers were seeking to solve.

Happy customer support agent.
getty
So, driven by necessity, they started to build their own system.
They started with a knowledge base solution, added a connected ticketing system, more channels and a call center facility with inbound, outbound, interactive voice response (IVR) and call-back capabilities. They also built in analytics, smart routing, AI-enablement and elements of workforce management too.
Realizing what they had built, Wix spun out WixAnswers into the market as a stand-alone customer service platform just over a year ago with Eran as its founder and CEO. According to Eran “Now that CX has become such a strategic focus for many businesses, we realized we can help companies solve the same problems we faced at the beginning of our journey and decided to bring Wix Answers to the market.”
But, in an already crowded market, how likely is it that they will become a player?
Well, there are two things that I find really interesting about WixAnswers and their journey so far:
They’ve always taken a one-view conversational approach to how agents serve customers. They pull all channels into one view rather than having separate teams manning different channels or having agents tab between applications. This approach leads to a more connected and consistent experience for the customer. It also makes the agents job much easier and provides them with a more holistic view of the customer.
They have also built what is effectively a full-stack customer service platform that doesn’t suffer from the integration or reliance on 3rd party application capabilities to plug any functionality shortfalls of many other systems.
Add to that that Wix Answers continues to support Wix’s customer base of over 180 million users in 17 languages and has acquired their own customer base that now includes MyHeritage, Fiverr, Guesty, Wonderbly, and many more. 
So, you could argue that they are already becoming a player. 
Will they go further? That remains to be seen. But they are one to watch.

The Zoom founder transferred around 40% of his shares to previously unknown people

In a statement, a spokesperson for the platform commented that this decision was part of Yuan and his wife’s estate plan.
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March 10, 2021 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Right now we wish we were one of these strangers. Eric Yuan , the CEO and founder of Zoom , a video calling platform, transferred approximately 40% of his shares to previously anonymous people.
The shares assigned by the executive had a combined value of 6 billion dollars (approximately 126,190,800 Mexican pesos, at the exchange rate of March 10, 2021) at the close of the stock exchanges on Friday, March 5.
This information was released through a government document, which did not specify the name of the recipients.
According to The Wall Street Journal , the transaction was recorded as two gifts of nearly 9 million shares each, to unspecified recipients and from two trusts of which Yuan and his wife are co-trustees.
Following this CEO action, the video conferencing firm’s shares rose 10.03% to $ 342.11 each on the NASDAQ on Tuesday, March 9.
The Chinese-born businessman founded the company in 2011. In a statement, a spokesperson for the platform commented that this decision was part of Yuan and his wife’s estate plan.
The video communications company reported $ 882.5 million in its fourth quarter of 2020, compared to an estimate of $ 811.8 million by some analysts.
Image: Grace Rivera
Prior to this stock transaction, Yuan was Zoom’s largest shareholder with a 15% stake in the value of the company and around 40% in the firm’s voting power.

4 Great Tools that Make QuickBooks Work Better for Your Small Business

QuickBooks is incredibly popular with small business owners, boasting an 80% market share and 29 million small business users. As helpful as QuickBooks is, there are many Quickbooks apps for integration with the software to make it an even better tool for small business owners. Here are four of the best (in alphabetical order).
Quickbook Apps for Integration
Bill.com
Bill.com allows you to pay your bills and send invoices online (at any time, from anywhere you have an internet connection). And no matter which version of QuickBooks you use—QuickBooks Online (QBO), Pro, Premier, Enterprise, or QuickBooks Desktop, Bill.com seamlessly integrates with all of them, so there’s no disruption to your payments process.
For payments, when Bill.com syncs with QuickBooks Online, payments update automatically saving time, reducing errors, and speeding up reconciliation. You’ll be able to streamline and customize your approval workflows and get paid faster using ACH or credit cards. And there are built-in reminders and tracking, so you never miss a payment.
Invoicing is quick—you can enter invoices by email or simply drag and drop them into Bill.com—and with the QuickBooks integration, you only have to enter them one time.
Overall, with the combination of Bill.com and QuickBooks Online, your payment processing system is efficient and easier to manage. Bill.com talks directly to QuickBooks, so changes—like a newly created bill or a sent payment—are automatically updated.
That leaves you time to devote to revenue-generating activities.
Fundbox
Fundbox is an AI-powered financial platform that offers almost instant access to business credit. To apply for a loan, you give them some information about your business, connect your accounting software and bank account, and you’ll hear back in moments. If approved, the funds can transfer to your account as quickly as the next business day.
The integration with QuickBooks makes applying a simple two-step process. In QuickBooks, you click the “Get App Now” button, and Fundbox automatically connects with QuickBooks Online. Once you verify some details about your business, Fundbox reviews the information in your QuickBooks account and makes a credit decision.
If approved, you can use your credit within QBO. You click on the “Transactions” tab, choose “Sales,” click “Advance Payment,” and select an unpaid invoice. Several years ago, my company turned to Fundbox while we were waiting to get paid, and the process was really that simple.
TSheets
TSheets, an employee time tracking and payroll app, was bought by Intuit several years ago, so you know the integration with QuickBooks is going to be smooth. And it’s customizable to your specific needs.
The app’s GPS tracking system tracks your employees whether they’re in the office, working remotely, or in the field. It enables you to shift work schedules, prepare job costing reports, and manage your staff’s time and pay.
TSheets streamlines your administrative work and eliminates the need for paper timesheets. It links to your QuickBooks account, updates everything automatically, and creates real-time reports.
TSheets features include:
GPS tracking of employees
Mobile management
Scheduling software
Customizable alerts
Overtime calculation
Time tracker
TSheets offers state-of-the-art technology featuring time clocks with facial recognition, helping to eliminate cheating.
Webgility
Webgility is an accounting automation platform for e-commerce and brick-and-mortar retail businesses. The app simplifies record-keeping and fully integrates with QuickBooks. It helps you manage your inventory and tracks sales tax, fees, revenue, and expenses from all your sales channels, including Amazon, eBay, Walmart, and Etsy.
The app works with several different versions of QuickBooks, including QuickBooks Online, Enterprise, and POS.
Webgility allows you to sync your orders and inventory and receive a daily summary. Those daily reports are reconciled and include refunds and order cancellations. Calculation sales tax can be a nightmare for small businesses; there are thousands of tax jurisdictions, each with its own regulations.
With Webgility, you get multiple solutions in one platform. You can view all your sales channels in one dashboard, track your shipping fees, and, the company says, “get a true picture of your margins.”

3 Tips to Find the Customers Who Will Increase Your Sales

How to connect with, and influence, your ideal audience.
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March 10, 2021 3 min read
Opinions expressed by Entrepreneur contributors are their own.
Connecting to your target audience, and beyond, is THE key component to growing a start-up.
Building an understanding of the customers, along with their needs, creates a profile that will provide reliable revenue streams.
Know your demo
Business coach, Lewis Howes, is noted for stating among other insights: “The most important thing to remember is you must know your audience”.
This is key to developing your business profile and overall approach to marketing.
Before placing a product on the market it is necessary to undertake in-depth research into the demographics of your target consumers. Who are you marketing to based on age, gender, sex and geographical location?
It is said that the ratio of ears-to-mouths is an indication of the ratio that they should be used. Listen carefully to identify all your target audience is interested in and what is currently trending. 
Unless you are truly breaking new ground, there are already competitors with skin in the game. Learn from their successes, mistakes and gaps in approach. Then exploit all of it. 
Related: 10 Free Tools to Help You Understand Your Social Media Audience
Be aware of how customers consume the product
Brad Ahn, CEO of digital sports publication Ahn Fire Digital, claims it’s essential to understand how an audience engages with your product and then pivot to changes in their consumption habits.
When Facebook’s algorithm changed due to the Cambridge Analytica scandal in 2016, many of the social media network’s marketing strategies were likewise devastated. Successful companies mitigated the risk by steering away from Zuckerberg Inc or adapted to the new climate.
Many fell back on the tried-and-tested Search Engine Optimization techniques with the low cost and high impact advantages it affords. Others managed their risks by increasing their profile on sites such as Instagram (with in excess of 1 billion active users, creating a colossal marketplace) and LinkedIn. 
Related: The Core Elements Needed to Pivot Your Business During the Pandemic
Engage, engage, engage
Once an audience has been identified, and its consumption habits have been analyzed, you must then deliver a product that engages them.
Canadian motivational speaker Brian Tracy has said: “Approach each customer with the idea of helping him or her solve a problem or achieve a goal, not of selling a product or service”.
We are all saturated by sales and, as a consequence, mostly just ignore them. To sell a service one has to delve deeper into the human condition. If you connect YOUR product with THEIR story, you are more likely to breed loyalty that lasts.
Related: How to Sell Anything to Anyone by Telling Great Stories

You Must Do This to Build Wealth

March 10, 2021 1 min read
Opinions expressed by Entrepreneur contributors are their own.
Certified financial planner Jeff Rose doesn’t want to create an ad for cryptocurrency or Tesla stock. What he does want to do, though, is encourage his viewers to be willing to take some risk and put yourself out there. You might be likelier to lose some money if you invest it into the stock market than if you bury it under your mattress, but building wealth does involve some amount of risk. 
Click play to hear more of Rose’s views on risk and profits. 
Related: Why an $18 Burger Could Actually End Up Costing You $199

LG Wants to Build Battery Cells for Tesla in the U.S. and Europe

LG hopes to expand its battery cell production by 2023 in an effort to target large tech companies like Tesla.
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March 10, 2021 3 min read
This story originally appeared on ValueWalk
LG Energy Solutions hopes to start building battery cells for Tesla in 2023. Sources told Reuters the company is looking at possible production sites in the U.S. and Europe. However, the sources added that Tesla hasn’t agreed to a deal to expand LG’s role in its supply chain outside China yet.
LG wants to expand its role with Tesla
The Korean firm told reporters last week that it is planning to build a factory in the U.S. to make battery cells for electric vehicles and energy storage systems. It wants to target startups and U.S. and global customers with its battery cells. Although LG didn’t name Tesla or any other companies as potential customers at the time, sources told Reuters it hoped Tesla would purchase its battery cells.
Tesla CEO Elon Musk announced plans to develop new battery cells in-house in September, which caused suppliers like Panasonic and LG to pursue unproven technologies or risk losing a major customer. The sources said LG Energy Solutions, a division of LG Chem, built samples for its 4680 large-format cylindrical cells. They also said the company is dealing with technological issues and the challenges associated with scaling production.
The sources added that LG plans to build the 4680 battery cells at its new factory in the U.S. The Korean battery firm aims to construct a new 4680 cell line to supply Tesla’s Giga Berlin factory in Europe. They also said Spain is a potential candidate to receive the European plant.
Challenges in battery production
Further, the sources said LG hadn’t mass-produced such large-format cylindrical cells yet, but boosting battery capacity is the right thing to do. They explained that Tesla is an important customer, and LG can take risks.
The automaker hasn’t ordered any 4680 cells, which are still being developed, from LG yet. At this point, Tesla is significantly increasing its orders for 2170 cells, which are used in the Model Ys and Model 3s produced in China.
By producing the 4680 cells in-house, Tesla aims to cut its production costs, improve the performance of its batteries and boost driving range. Those goals would help with the automaker’s push to increase EV production significantly around the globe. Tesla has a pilot factory for the cells in California and is preparing to build them at newer facilities in Germany and Texas. Musk also said it is negotiating with battery suppliers about developing the 4680 cells.
Tesla is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their families.

5 Lessons From Boxing That Every Entrepreneur Needs

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Gianluigi Ventre is a former boxer turned entrepreneur.
Provided
Entrepreneurship and sports metaphors go together like—well, like Steph Curry and 3-point shots. 
You hear them all the time. Someone’s investor pitch was a slam dunk. That competitor really dropped the ball. The product dev team was on track, but now they’re behind the eight ball. 
For most of us, those metaphors are just figures of speech, but not for Gianluigi Ventre. Ventre is a former boxer who actually knows what it feels like to literally get knocked down, but get back up again. After boxing for a time in Thailand, his career ended after he sustained one too many blows to the head, and he turned to the world of online trading instead.
I spoke with him recently to see what he’s taken from the ring into his life as an entrepreneur. 
You can’t skip the training. 

Formal training may be optional, but the informal, daily practice of learning and growing as a business owner is not. 
“In order to win a match, you have to be willing to put in the hard work before. You have to better yourself every day,” Ventre says. “There’s no holy grail that will bring you instant success.” 
From reading books on leadership and marketing, to finding a great mentor, to studying the trends in your industry, training comes in many different forms. The best type of training to undertake will be whatever makes you a better, more confident businessperson. 

Even the greats get knocked out. 
Knockouts happen to everyone—even the best of the best. 
They’re not easy to recover from, either in the ring or in the business world, but those who do are often the ones who go on to achieve the greatest success. “The world’s best boxers have been knocked out in a match. The best entrepreneurs have had the same thing happen, but they survived those difficult periods by getting up and trying harder and harder to achieve what they want.”  
Know what you’re working for. 
If you’re going to be the best at something, you have to know why you’re striving. Is it because you want to create secure, long-term jobs for your staff? To bring to life a product you believe in? To support your family? “You’ll need that ‘why’  when things go badly,” Ventre says. “Especially during those difficult periods, you have to know why you’re fighting, and for what.” 
Here’s something to remember: If it’s just to make a lot of money, you’ll run out of steam once things get really rough. 
Remember who you are and where you came from.
A sport as physical as boxing grounds a person in their body and identity. Status, money, possessions—none of those matter much when you’re getting punched in the face. 
Those things can, however, easily distract an entrepreneur. Objects and financial wealth have a way of giving people a false sense of security, even weakening their bonds with the people who helped them along the way. That’s a trap to avoid, Ventre says.  
“Boxing taught me to remember where I started and who I was before. As I’ve grown in this entrepreneurship journey, it’s been very important to me to be grateful for what I have.”  
When everything crashes to the ground, look methodically for what went wrong. 
Just like athletes watch videos of their performance to see where their gait was off, at what point they lost their balance, or when they let the opponent sneak in that right hook, entrepreneurs have to be able to hone in on what happened when things don’t go as planned. 
“You need to be able to identify the error and learn from it,” Ventre says. Did you misjudge your audience’s needs? Did you rush through a critical development milestone? Did your launch date conflict with a larger industry event? 
Once you can identify exactly what happened, you’ll be able to move forward effectively, having learned from your mistakes. 
Athletes and business leaders have always had plenty to learn from each other. As entrepreneurs, we can learn from boxers like Ventre—without having to get knocked out in the ring.