5 Successful Entrepreneurs Share Their Best Tips for Starting a Business Today Rounding up the best people we met through our members-only Q&As.
By Mark Klekas Edited by Mark Klekas
We've met a lot of influential CEOs, founders, and celebrities this year through Entrepreneur+ subscriber-only events. Here are some of the best moments from these interviews this year — in no particular order:
1. Shopify's President on what's changing online
Harley Finkelstein sat down with us to discuss the best ways to grow your e-commerce business. Here are some top insights:
- The ingredients for businesses today are just different. "Historically, the most important ingredient for starting a business was capital — you needed money," Finkelstein explained. "And now, it's more about creativity than it is about capital. It's more about being resourceful than having resources."
- There's never been a better time to try something new. The cost of failure to start a business in 2023 was as low as it's ever been, according to Finkelstein.
- Ask your competitors for help — it's not a zero-sum game. The internet has transformed the business landscape to the point where entrepreneurs readily share insights and advice on platforms like Shopify, fostering a vibrant community.
2. Musicians turned skincare experts on curiosity
The incredible husband and wife team of Mike Einziger (guitarist of Incubus) and Ann Marie Simpson-Einziger (internationally acclaimed violinist) shared how they pivoted from musicians to skincare executives. Here's what we learned from them:
Always be open to discoveries. During a music tour, Mike noticed a skin condition caused by a fungus. Instead of treating it conventionally, they studied the phenomenon. This led to the discovery of malasazine, a unique molecule on the skin, inspiring them to create a skincare brand, Mother Science.
Curiosity as a driving force. Every entrepreneur in every industry should be curious because that's how you get the best problem-solving, the couple said. They believe embracing challenges, forming visionary teams, and seeking expertise is crucial in overcoming obstacles.
Connect with your "fans" authentically. Mother Science says it's best to build a loyal consumer base organically before considering other channels like retail, focusing on authenticity and effectiveness.
3. Gen Z soda maker on building an audience
Ben Goodwin was on a mission to make a healthy soda that had mass appeal with a younger audience. As a co-founder of OLIPOP, he did exactly that. The colorful and new-aged soda company has learned the secret to social media growth and audience building. Here's what Goodwin shared with us:
- Don't worry so much about the endgame. Ben believes entrepreneurs don't necessarily need to have the full vision of their end game when they start. The market will give you feedback to determine which direction you should be going.
- Be wary of who you do business with. In the early stages of fundraising, he advises avoiding investors who treat you with disrespectfully or try to make you feel like they are your savior.
- When scaling quickly, you need to have team trust. Building a strong high-trust culture allows you to make critical pivots in time and have enough grace at the team level to operate efficiently despite not having a perfect alignment of your internal structures and processes.
4. Robert Irvine on the four pillars of leadership
We met with Robert Irvine to discuss managing egos, brutal honesty, social awareness, and mentorship — the four pillars of leadership, he says. Here's what we learned during that call:
- Look for win-win partnerships. The chef-turned-entrepreneur emphasizes of finding situations that benefit multiple parties. Especially for small businesses.
Accepting mistakes and moving forward. Entrepreneurs to accept mistakes but avoid repeating them, Irvine says. Learning from errors is crucial for personal and professional growth.
5. The Skinny Confidential co-founders on turning a side hustle into an empire
Lauryn and Michael Bosstick, are the wife and husband co-founders of The Skinny Confidential beauty, media and lifestyle brand. They shared the following insights into how they grew their side hustle into a media and commerce empire, and offer their advice for anyone looking to launch and grow a passion project. Here's what we learned from them:
- Go slow when starting out. They advise creators to take it slow and steady and focus on building a community that trusts them over time. If you do that, your audience will stick with you through the ups and downs, and gradually, you can turn it into a sustainable business.
Discipline and consistency. Lauren and Michael stayed consistent with their podcast for seven years — never missing a release nearly that entire time. The key message is that success often requires persistent effort and a long-term commitment to one's goals.
Nuture your relationship with your audience. The couple emphasized the importance of finding the best ways to capture feedback from your audience — regardless if you are starting out or have an established brand or business. Take that thoughtful feedback and infuse it with your own taste in order to create new products and content that really take off.
