
The key to building trust and perspective in business? Space
I soon realized that my focus on problem solving was consuming too much of my time. Back-to-back meetings coupled with teams needing my oversight unwittingly made me a bottleneck. So, I relinquished some control.
After 19 years of running a video company, I know that taking a step back from your business is just as important as putting in the work. Doing so is not about reducing your workload, but about unlocking your organization's full potential. For any leader, this shift is both liberating and a total game-changer.
How do you create space between you and your organization? Some might say that's easier said than done. But when you do it, this separation can propel your team farther than you ever imagined.
For us at Wistia, it has set a new standard: one built on trust, collaboration, and empowerment.
Once you've taken a step back, you have instantly built a trusting environment. This will help motivate team members to do their best work, and empowers them to rise to the occasion.
Sometimes letting go is the best way to instill confidence. Let a team member lead the production of a new project, like a video campaign. Allow them to handle client feedback, oversee edits, and ensure delivery. Empowering them in their roles allows you to add unique value to other parts of the business that might be better suited for your attention.
Leaders drive organizational growth. Instilling confidence in your teams to do their best work is a great way to grow—both internally and externally.
FAILURE = PERSPECTIVE
We've all been through it: buried in emails, behind on deadlines, and juggling meetings.
Here's my rule of thumb: If you can find someone who can do something 80% as well as you, delegate it. Every time.
If they succeed with that task, awesome. Hand off more to them and watch their confidence soar. But don't see it as a setback if they fail. Failure can be a powerful lens. Shift your perspective on what needs to change for growth and success.
Failure may also be a sign that you need to change your approach as a leader. Collaborate with the leadership team to analyze what went wrong and implement tools for success next time.
The big takeaway: Get comfortable with failure. It's proof that you're moving fast, pushing boundaries, and learning along the way. The goal is progress, not perfection.
LETTING GO TO SCALE AND SUCCEED
Handing over the reins can feel daunting, but it's a necessary step for growth. You can't scale with a workload that keeps you bogged down.
Failing to delegate is failing to scale. Give your teams the space and opportunity to step up and flourish, and I am almost positive that you will start to see a fresh perspective turn into innovative ideas.
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Business Wire
4 minutes ago
- Business Wire
Starco Brands Reports Second Quarter 2025 Financial Results
SANTA MONICA, Calif.--(BUSINESS WIRE)--Starco Brands, Inc. (the 'Company' or 'Starco Brands') (OTCQB: STCB), inventor and acquirer of consumer products and brands, today reported financial results for the three- and six-month periods ended June 30, 2025. Management Comments Starco Brands Chairman & CEO Ross Sklar said: 'Our first-half performance demonstrates strong customer demand and our team's proven expertise in driving operational excellence. As a house of brands, Starco Brands continues to enhance efficiency and innovation while improving profitability across our portfolio of companies. We improved first-half Adjusted EBITDA by $1.9 million year-over-year while reducing operating expenses by 32%, excluding non-cash items, through decisive actions including workforce optimization and the strategic exit of unprofitable SKUs and underperforming retail channels. As we enter the high-selling season in the second half of 2025, we are exceptionally well-positioned to capitalize on this momentum and deliver strong results.' Mr. Sklar continued, 'We continue to move towards the transformational merger and integration of The Starco Group by year-end. This strategic combination will realize our long-held vision of creating a fully vertically integrated consumer products manufacturing and branded platform that unlocks synergies and growth opportunities and delivers the scale needed to compete on a global level.' Second Quarter of 2025 Financial Results Reported net revenue for the second quarter of 2025 was $11.0 million, compared to $15.0 million in the second quarter of 2024. Gross profit was $4.4 million for the second quarter of 2025, compared to $5.7 million in the second quarter of 2024. The year-over-year decline was primarily due to intentional portfolio optimization, where the Company strategically exited unprofitable SKUs and specific retail channels. The Company is prioritizing profitability by focusing resources on its higher margin direct-to-consumer and e-commerce channels. Marketing, General and Administrative expenses decreased to $3.2 million, or 29% of reported net revenue in the second of 2025, compared to $4.5 million, or 30% of reported net revenue in the second quarter of 2024. Compensation expense decreased to $1.7 million in the second quarter of 2025, compared to $2.4 million in the second quarter of 2024. Professional fees decreased to $0.9 million in the second quarter of 2025, compared to $1.1 million in the second quarter of 2024. The year-over-year reduction in operating expenses reflects headcount adjustments and operational improvements implemented during the second quarter of 2025. No fair value share adjustment was recorded in the second quarter of 2025, compared to a loss of $8.7 million in the second quarter of 2024. Reported unadjusted net loss for the second quarter of 2025 improved to $1.8 million, compared to a net loss of $11.6 million in the second quarter of 2024. The year-over-year reduction was primarily due to non-recurring period impacts, including a $8.7 million loss from changes in the fair value of stock payable to Soylent stockholders. First Six Months of 2025 Financial Results Reported net revenue for the first six months of 2025 was $21.9 million, compared to $30.2 million for the first six months of 2024. The year-over-year decline was primarily due to intentional portfolio optimization, where the Company strategically exited unprofitable SKUs and specific retail channels to focus resources on the Company's higher margin direct-to-consumer and e-commerce channels. Gross profit was $9.2 million for the first six months of 2025, compared to $12.7 million for the first six months of 2024. Marketing, General and Administrative expenses for the first six months of 2025 decreased to $6.6 million, or 30% of reported net revenue, compared to $9.8 million, or 33% of reported net revenue for the first six months of 2024. Compensation expense was $3.4 million for the first six months of 2025, compared to $5.0 million for the first six months of 2024. Professional fees were $1.7 million for the first six months of 2025, compared to $2.3 million for the first six months of 2024. The decrease in operating expenses reflects headcount adjustments, lower contractor services, lower royalty costs and the elimination of several vendor services. For the first six months of 2025 there was a gain on far value share adjustment of $3.7 million, compared to a loss of $10.6 million for the first six months of 2024. Reported unadjusted net income for the first six months of 2025 improved to $28,839, as compared to net loss of $16.0 million for the first six months of 2024. The year-over-year reduction was primarily driven by a fair value gain of $3.7 million related to share-based adjustments recognized in the first six months of 2025. The prior year period was negatively impacted by a loss of $10.6 million associated with changes in the fair value of stock payable to Soylent stockholders. Non-GAAP Adjusted EBITDA Adjusted EBITDA, which is net loss adjusted for stock-based compensation, gain on disposal of property and equipment, one-time expenses that the Company reasonable believes will not gain on settlements, interest and other expense, net, depreciation of property and equipment, amortization of intangible assets, (recovery) provision for doubtful accounts, and provision for income taxes and certain other items that impact the periods presented. Adjusted EBITDA is provided so that investors have the same financial data that management uses to assess the Company's operating results with the belief that it will assist the investment community in properly assessing the ongoing performance of the Company for the periods being reported and future periods. The presentation of this additional information is not meant to be considered a substitute for measures prepared in accordance with U.S. GAAP. Because Adjusted EBITDA excludes some, but not all, items that affect net income (loss) and is defined differently by different companies, our definition of Adjusted EBITDA may not be comparable to similarly titled measures of other companies. For reconciliation of GAAP Net Income (loss) to Adjusted EBITDA, see our reports we file from time-to-time with the SEC, which are available to read at Adjusted EBITDA was a loss of approximately $221,000 for the second quarter of 2025, compared to a loss of $1.3 million for the second quarter of 2024. Adjusted EBITDA for the first six months of 2025 was a loss of approximately $188,000, compared to a loss of $2.1 million for the first six months of 2024. Adjusted EBITDA is a non-GAAP financial measure. See the supplementary schedules in this press release for a reconciliation thereof to the most directly comparable GAAP measure. Balance Sheet As of June 30, 2025, the Company had approximately $0.9 million in cash, and approximately $8.4 million in inventory on its balance sheet compared to $1.2 million in cash, and approximately $8.2 million in inventory on its balance sheet as of December 31, 2024. Second Quarter of 2025 Segment Review Starco Brands: Starco Brands' segment includes AOS, Whipshots and Winona Popcorn Spray. Segment gross revenues of $1.8 million for the second quarter of 2025, compared to $2.1 million for the second quarter of 2024. Segment gross profit of $0.9 million for the second quarter of 2025, compared to $1.1 million for the second quarter of 2024. Skylar: Segment gross revenues of $2.4 million for the second quarter of 2025, compared to $1.9 million for the second quarter of 2024. Segment gross profit of $1.1 million for the second quarter of 2025, compared to $1.3 million for the second quarter of 2024. Soylent: Segment gross revenues of $6.8 million for the second quarter of 2025, compared to $11.0 million for the second quarter of 2024. Segment gross profit of $2.4 million for the second quarter of 2025, compared to $3.3 million for the second quarter of 2024. Forward-Looking Statements Any statements in this press release about the STCB's future expectations, plans and prospects, including statements about our proposed transaction, future operations, future financial position and results, market growth, new product launches and product growth, total revenue, as well as other statements containing the words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would' and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The transaction may not actually close and STCB may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on the such forward-looking statements. All forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. STCB undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release represent STCB's views as of the date hereof. STCB anticipates that subsequent events and developments may cause STCB's views to change. About Starco Brands Starco Brands (OTCQB: STCB) invents and acquires consumer products and brands with behavior-changing technologies that spark excitement in the everyday. Today, its portfolio companies include Whipshots, an alcohol whipped cream brand in partnership with Cardi B; Art of Sport, a premium body care and nutrition brand cofounded by Kobe Bryant; Winona Pure a line of Popcorn Seasoning and Cooking Sauce Sprays; Soylent Nutrition a dairy free meal replacement, protein and nutrition brand, and Skylar Beauty, a clean prestige fragrance and personal care brand partnered with Leah Kateb. A modern-day public holding company and invention factory to its core. Starco Brands publicly trades on the OTC stock exchange. Visit for more information.


Forbes
2 hours ago
- Forbes
Taylor Swift And Tomorrow's Female-Founded Unicorns. Plus: Buying A Forest Could Hedge Against Inflation
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Jean Smart, a Forbes 50 Over 50 listee, sat down with ForbesWomen editor Maggie McGrath and 30/50 Summit vice chair Huma Abedin to discuss her decades-long career on the screen. Smart is once again up for an Emmy for her role as Deborah Vance on the hit show Hacks , and is making waves on Broadway in her one-woman play Call Me Izzy . Forbes is searching for the next class of 30 Under 30—and nominations for the U.S. and Canada close in less than a month. Are you next? Or do you know someone creating the next Instagram, Stripe or Spotify? Nominate them (or yourself) here. The Checklist 1. Think twice before you scrub your social media accounts. Between the Trump Administration declaring private accounts a red flag for foreign students and prospective employers using AI to find fake applicants, the old rules of polishing and making your accounts private are becoming obsolete. Here's what you should do instead. 2. Own the (virtual) room. Remote work has unlocked new levels of flexibility, but it also comes with the challenge of being seen. When you're not physically present in the office, your contributions can sometimes fly under the radar. According to a study by Live Data Technologies, people who work from home are promoted 31% less often than their in-office counterparts and are 35% more likely to be laid off. Make sure you stand out with these five tips. 3. Think of your energy as a luxury item. On Wednesday, Taylor Swift joined Travis and Jason Kelce on their podcast New Heights to discuss the singer's upcoming album. During the episode, Swift offered these words of advice for blocking out unwanted noise and setting boundaries in an era of constant connectivity: 'You should think of your energy as if it's expensive, as if it's a luxury item. Not everyone can afford it.' QUIZ For five consecutive mornings next week, early risers will be treated to the sight of a 'planet parade' in the eastern sky—the last big gathering of planets until 2028. In addition to the moon, which planets will be visible to the naked eye? A. Mercury B. Venus C. Jupiter D. All of the above Check your answer. Liked what you read? Click here to get on the newsletter list!


Entrepreneur
3 hours ago
- Entrepreneur
Top 5 Planning Opportunities for Entrepreneurs After the New Tax Law
With proactive guidance and scenario modeling, CLA empowers entrepreneurs to seize new tax law opportunities and drive growth through strategic tax planning. Spotlight is brought to you by the Entrepreneur Partner Studio, which creates dynamic and compelling content for our partners. Opinions expressed by Entrepreneur Spotlight partners are their own. Recent changes to federal tax law1 are opening valuable planning opportunities for entrepreneurs and small-business owners. With a proactive approach, business leaders can use these new benefits to strengthen their companies and plan for growth. Professionals at CLA (CliftonLarsonAllen LLP)—including Miryam Wisnicki, Tax Principal, and Leslie Boyd, Managing Principal of Industry—are guiding clients through these changes and helping them align tax strategies with larger business goals. "Whenever there's a shift in tax policy, it's a good time for business owners to take a fresh look at their overall strategy," Wisnicki says. "The factors that influence planning may have changed, which can open up new possibilities." Here are five areas where business owners can benefit from a fresh look at their tax planning. 1. Enhancing itemized deductions options The new law temporarily raises the state and local tax (SALT) deduction cap to $40,000 for those with adjusted gross income (AGI) of less than $500,000, beginning in 2025. At the same time, higher earners should be aware of new limitations on itemized deductions and changes to charitable giving rules coming in 2026. Wisnicki explains, "There's a new overall limitation on itemized deductions, and that will typically affect the higher-income taxpayers." She adds, "People who don't typically think of themselves as being in that 37% bracket because they have a significant number of itemized deductions may still be impacted." Another new provision affects charitable giving: "There's a new floor placed on charitable contributions where the first 0.5% of the taxpayer's AGI is deducted from their charitable contributions," Wisnicki says. "If the taxpayer has a high AGI, that could be a significant reduction in the benefit." Because these changes are not effective until 2026, they create a window of opportunity. CLA advisors are helping clients consider options such as accelerating charitable gifts or using donor-advised funds in 2025. 2. Business deductions encourage growth and innovation The revised tax law brings new flexibility to business deductions, especially for companies that are investing in their future. The ability to immediately deduct domestic research and development (R&D) expenses, take advantage of expanded business interest deductions, and claim 100% bonus depreciation on qualifying property after January 19, 2025, are all significant changes. Wisnicki highlights the biggest benefits: "The three that I highlight for business owners is the ability to deduct research and development expenses once again, business interest expense expansion, and then finally bonus depreciation and Section 179 opportunities." For companies that are investing in R&D, these changes support new ideas and investments, helping businesses stay competitive at home and abroad. "All of that will interplay with things like state tax considerations and maybe even what you are doing with respect to your research expenditures," Boyd says. CLA's team uses scenario modeling to help business owners see how these deductions fit together, so their tax planning supports immediate needs and long-term strategy. 3. Using cost segregation to save on building purchases or upgrades For those building, renovating, or buying property, cost segregation studies are now even more valuable. These studies help businesses identify which parts of a property can be depreciated more quickly, allowing for greater flexibility in tax planning. "It can supercharge the value of a cost segregation, from a time value of money standpoint," Boyd explains. "Cost segregation can accelerate deductions on certain building components, allowing you to reduce taxable income." The professionals at CLA work with business owners to identify qualifying components and time deductions for greater benefit. 4. Reviewing your business structure A company's legal structure has a big impact on taxes, succession, and growth. With the expanded Qualified Small Business Stock (QSBS) exclusion and the continuation of a low corporate tax rate, entrepreneurs have a good reason to revisit their entity choice. "In order to be a qualified small business and get the benefits, you need to be a C corporation," Wisnicki says. "There is an opportunity here for pass-through businesses to consider whether there is a benefit in converting to a C corporation… so this evaluation has to be done with the help of a CLA tax advisor." Boyd adds, "There are a lot of factors that go into our choice of entity, and if somebody is considering that, the biggest factor they need to think about is what their goal with the business is, whether to sell or to hold, and if they are investing the earnings in the business or withdrawing cash. Those tend to be the two biggest levers in those decisions." CLA's approach combines technical knowledge with a clear understanding of business goals, helping owners make confident decisions. 5. Planning for clean energy credits Clean energy incentives remain a positive feature of the new tax law. C corporations, nonprofits, and public entities can find opportunities with credits and direct pay options, especially by acting before certain phase-outs begin. "There are still opportunities available concerning clean energy projects, in particular if you are a C corporation... there is still the opportunity to look at credits out there available to purchase, and that's a planning opportunity," Boyd says. CLA assists clients in finding the right timing and approach to make their projects as beneficial as possible. A collaborative approach to growth Several provisions in the updated tax law are intended to encourage growth, reinvestment, and innovation. "There's so much more than just the numbers," Boyd observes. "And that's where I think CLA offers a valuable perspective on how we help clients." Working with experienced advisors allows entrepreneurs to approach these changes confidently, knowing their tax planning supports immediate results and future success. Click here to learn more about how CLA can help you navigate the new tax law and grow your business. 1 On July 4, 2025, U.S. President Donald Trump signed the One Big Beautiful Bill Act into law following swift passage by both the House and Senate.