Latest news with #businessgrowth
Entrepreneur
4 hours ago
- Business
- Entrepreneur
Want to Scale Your Business? Start With These 3 Core Elements
The fundamental purpose of building systems in your business is to shift from reactive to proactive operations. Opinions expressed by Entrepreneur contributors are their own. Growing a small business isn't just about working harder — it's about understanding the fundamental dimensions that drive sustainable growth. After over 25 years of bootstrapping Marketcircle, I've learned that successful businesses master three critical elements: vision, systems and team. Each plays a unique role depending on where you are in your entrepreneurial journey. When starting a small business, the first crucial step is understanding which side of the spectrum you're on. Are you building a service business — consulting, HR or professional services? Or are you creating a product that could potentially reach millions? These represent two extremes, and your approach to vision differs dramatically between them. For service businesses, where you're essentially selling time — whether yours or your team's — the vision is relatively straightforward. Many others are doing similar things, so your vision centers on the quality of service you'll offer, your target customers and how you'll differentiate yourself. It's about designing the kind of life you want to lead through your business. On the product side of the spectrum, the challenge intensifies. Creating something new requires not just imagination but the ability to crystallize that vision for others. You'll need to raise money and recruit talent, and the people joining you at the beginning must genuinely understand and believe in your vision. This isn't easy — even with clear communication, you'll need to reinforce it constantly until it becomes part of your company's DNA. Building systems that scale Whether you're working solo or planning to grow to ten people, systems are non-negotiable. How will you attract new customers? How long do they typically stay? What ensures their satisfaction? These questions require thoughtful answers, and those answers become your systems. There's a critical distinction between systems and mere reminders. A system might be "these are the ten steps I follow when onboarding a new customer." It's a documented, repeatable process. Reminders, on the other hand, are reactive — they tell you what to do at a specific time but don't create sustainable workflows. The fundamental purpose of building systems is to shift from reactive to proactive operations. When you're constantly reacting, you're not driving the bus — your customers are (or whoever else). While some reactive moments are inevitable (emergencies happen), living in a reactive state means surrendering control of your time. It's exhausting to operate like a firefighter, constantly responding to emergencies without the ability to plan or prevent them. The importance of systems becomes even clearer when you consider that, according to McKinsey, small businesses in North America operate at only 47% of the productivity of larger firms. Robust systems are essential for closing this gap — they're what allow small businesses to compete effectively despite having fewer resources. This is where tools like Daylite become invaluable for small businesses, centralizing information and processes so nothing falls through the cracks. Strong systems provide another crucial benefit: they allow you to absorb shock. Throughout my journey, I've faced several periods where I had to step away from daily operations. When my sister became ill, when my wife experienced complications during pregnancy, and when I faced my own health challenges in 2022, during each of these times and many others, our systems kept the business running. Without them, any one of these events could have meant failure. Related: 70 Small Business Ideas to Start in 2025 Navigating team development through cycles Business growth follows cycles of ebb and flow, and your approach to team development must adapt accordingly. During flow periods, you build and strengthen your team. During ebbs, you lean on what you've already built. The ebbs test everything. It's challenging, but I've been here before (and likely you have, too). The key to navigating these difficult periods lies in maintaining the right mental state. If you can't maintain perspective during an ebb, it becomes a downward spiral. Your team looks to you for confidence—if they see you've lost hope, they will too. My approach during challenging times is to take inventory of assets. It's easy to feel like everything is falling apart, but pause and assess what you actually have: your reputation, client relationships, product quality and team capabilities. These are the tools at your disposal. Think of it like being in an escape room — without assessing your resources, you're stuck. But once you inventory what's available, options emerge, and with options comes a healthier mental state. During these cycles, you'll also discover which team members truly contribute to recovery and which ones don't. The challenging times reveal who can help you weather the storm and who might be holding you back. These insights, while difficult, are invaluable for long-term success. The interconnected nature of success These three dimensions don't exist in isolation — they're deeply interconnected. Your vision shapes the systems you build, and those systems determine the kind of team you need. When I started Marketcircle with a vision of helping small businesses succeed, that vision informed the system we created. We built processes specifically designed to support long-term customer relationships because that's what small businesses need. Similarly, your team must align with both your vision and your systems. If your vision involves rapid scaling, but your systems are designed for steady, controlled growth, you'll face constant friction. If your team excels at innovation but your systems prioritize stability, you're setting everyone up for frustration. The magic happens when all three dimensions reinforce each other. Clear vision attracts the right people. Good systems empower those people to execute effectively. A strong team can then refine and improve both the vision and the systems, creating a virtuous cycle of growth. Playing the long game After 28 years in business, I can definitely say this is a marathon, not a sprint. Success requires building a business that can function without your constant presence. I've structured my role to focus on thinking and strategy rather than reactive tasks like customer support. This allows me to work on the business rather than just in it. The entrepreneurial journey will test you with unexpected challenges and force difficult decisions. But if you establish a clear vision, build robust systems and develop the right team, you create a business capable of weathering any storm. More importantly, you build a business that supports the life you actually want to live, rather than one that consumes it. The three dimensions — vision, systems and team — aren't just business concepts. They're the foundation for sustainable growth and personal fulfillment. Master them, and you'll build something that lasts.
Forbes
5 hours ago
- Business
- Forbes
20 Strategies To Secure Venture Capital Backing
Securing venture capital can help a growing business fully realize its potential, but standing out to investors requires more than just a good idea. From building long-term relationships to showcasing real traction, founders must take intentional steps to align with what venture capitalists are truly looking for. Whether you're just beginning to raise funds or refining your next pitch, understanding the mindset and priorities of VCs can make all the difference. To help, 20 members of Forbes Finance Council share proven strategies that can increase your chances of landing that coveted venture capital investment. 1. Movement-Based Business Framing I've found that the most effective way to attract venture capital is to frame your company as a movement, not just a business—when investors see you're reshaping an entire industry with AI-driven insights, they're willing to double down before the first sale is even made. - Robert Mallernee, Eton Solutions 2. Clear Market Sizing And Trend Alignment You should present clear market sizing (TAM, SAM, SOM) with solid driver tree view and validated numbers, then align your next five or 10 years of business strategy with positive (versus negative) industry megatrends (like AI) and ensure your financials and cap table are clean and free of issues. You don't want any surprises for investors. Lastly, always prepare answers and rationale about any performance deltas against industry peers. - Lechi (Richard) Zhang, Stone Lake Capital 3. An Exit-Oriented Operational Strategy One way is to treat every stage of growth like it's on a path to exit. This mindset sharpens execution, clarifies your narrative and aligns your team around value creation. VCs are drawn to founders who understand the exit landscape, structure accordingly, maintain systems and controls and align everyone toward long-term value. You must be prepared long before the ask to showcase the organizational discipline. - Peter Goldstein, Exchange Listing LLC 4. Long-Term Trend And Growth Positioning The first key point to grasp is that the venture capital (VC) model is designed for disruptive companies capable of rapid growth and delivering returns of 10x or more for the fund. As such, it's important to frame your company's narrative around how a long-term market trend, combined with a differentiated product, will drive accelerated growth and enable efficient customer acquisition. - Abhishek Nanda, Revalize 5. Leadership Strength And Market Understanding You must be clear about the problem you're solving and the total addressable market for your solution. Then, you can demonstrate leadership to see your strategy through with adaptability to be coachable and nimble as you face inevitable hurdles. Venture capital investors want to partner with owners who understand their customers' demands, market opportunities and the need to balance focus and flexibility. - Thierry Brunel, Matter Family Office Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify? 6. Early Due Diligence Preparation You should make your business "due diligence ready" long before you raise. VCs move faster and with more conviction when founders present clean financials, clear KPIs and a compelling growth narrative tied to real data. You shouldn't just pitch the vision—prove you can operationalize it. Investing early in financial infrastructure and scenario planning shows you're not only ambitious but also execution-ready. - Alexander Ronzino, Rework Capital LLC 7. Product-Market Fit And Traction Metrics Businesses should demonstrate strong product-market fit with clear traction metrics such as revenue growth, user engagement or customer retention. Investors are more likely to fund startups that can prove demand and scalability. Showcasing a credible, experienced team and a compelling vision for market disruption also builds confidence. - Anatoly Iofe, IceBridge Financial Group, LLC 8. A Data-Backed Investment Narrative It's important to focus on building a compelling, data-backed narrative that highlights traction, market scalability and clear exit potential. Demonstrating disciplined financial management and a strong founding team can significantly increase investor confidence and attract capital. - Alfonso Cahero, Cahero Family Office 9. Early Venture Capital Relationship Building You can start building VC relationships early, even before you are ready to raise. Consistent, thoughtful updates on your traction and milestones keep you on their radar. Over time, this positions you as a founder to watch. In that case, when you are ready, they are already interested. It's about attracting capital, not chasing it. - Nike Ajao, OneBarrow Corporation 10. Product Validation Through Customer Engagement One way is to keep things digestible and demonstrate product-market fit. Attracting early customers and demonstrating strong engagement or revenue helps to get the attention of VCs. Proving your business model's potential and validating it makes it more attractive to investors. - Jake Claver, Digital Ascension Group 11. Vision Alignment With Market Trends One powerful strategy is to align your business narrative with future market shifts, clearly articulating how your company is positioned to lead in emerging trends. You can back this with strong unit economics, a scalable model and a compelling vision. VCs invest in potential, but they commit to clarity, conviction and a roadmap that signals outsized returns. - Swati Deepak Kumar (Nema), Citigroup 12. Smart Cash Management Businesses can showcase a smart cash burn strategy that fuels sustainable growth. They must clearly communicate how targeted investments drive ARR, customer retention and innovation and back it with metrics and transparency to prove the long-term value, not just spending capital. Investors fund confidence and clarity, and providing a clear runway for their financing underscores your commitment to them. - Mike Whitmire, FloQast 13. Scalable Growth And Competitive Differentiation One effective strategy to increase venture capital investment in your business is to demonstrate a clear path to scalable growth with defensible market differentiation. Investors look for startups that can also sustain competitive advantage through unique IP, network effects or deep industry insight. You can pair this with strong traction metrics and a credible founding team to build investor confidence. - Crystal Gilmore, The Spearhead Group Inc 14. Real-Time Operational Proof One tip is to turn your operations into a live case study for VCs. You shouldn't just say your business works. You need to show it works in real time by using dashboards, behind-the-scenes video updates and even customer wins as proof points investors can watch unfold. Most founders pitch promises. You want to pitch momentum. In layman's terms: Make your business too real to ignore. - Karla Dennis, KDA Inc. 15. Strategic Alignment With Niche Funds To attract venture capital, you should consider partnering with a sector-specific microfund or founder-led fund that aligns with your niche. These focused investors bring not just capital, but also deep industry insight, strategic networks and hands-on support. This positions your business for stronger growth and future backing from larger venture capital firms. - Elie Nour, NOUR PRIVATE WEALTH 16. Customer Traction As Market Validation You can turn your customer traction into proof of inevitability, as well as show that your product isn't just being used—it's becoming essential. It's best to use metrics, testimonials and retention data to demonstrate growing demand, then frame that momentum within a scalable model and clear go-to-market plan. VCs don't just want growth—they want evidence you've already built the machine that will deliver it. - Michael Foguth, Foguth Financial Group 17. Tangible Results And Scalable Potential One smart strategy is to show traction, not just vision. Investors want to see proof that your business works in reality. That means strong early adoption, clear revenue potential and a solid understanding of your unit economics. When you can connect your story to real results and show you can scale it, VCs pay attention to it. - Nick Chandi, Forwardly 18. Authentic Founder Branding To boost venture capital investments, I focus on personal branding—sharing my journey, insights and vision as a founder. This builds trust and credibility, making our equity management platform stand out. Investors back people, not just products, so authentic storytelling is my edge. - Tomas Milar, Eqvista Inc. 19. Strategic Tax And Asset Structuring You can showcase a clear path to scalable revenue with a strong tax strategy and asset protection, like using a 453 Deferred Sales Trust or IP-holding LLC. These structures increase investor confidence by reducing risk and enhancing post-exit value. - Andre Pennington, Pennington Law 20. Crowdfunding You may want to consider crowdfunding, especially in a B2C segment. Those angel investors will also become your users and promoters. If executed right, VC funds will follow as well. - Andrew Izyumov, 8FIGURES The information provided here is not investment, tax, or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
Yahoo
a day ago
- Automotive
- Yahoo
Confie Celebrates Freeway Insurance Franchise Expansion into 28 States
HUNTINGTON BEACH, Calif., July 24, 2025 /PRNewswire/ -- Confie, the nation's largest independent distributor of personal lines insurance, announced continued momentum in the growth of its Freeway Insurance franchise program, now operating in 28 states following the opening of a new location in Connecticut. Freeway Insurance's franchise program has rapidly expanded to over 53 franchise locations across the country, solidifying its position as one of the fastest-growing auto insurance franchise models in the U.S. "Our foundation has always been built on making affordable insurance solutions accessible—especially to underserved communities," said Cesar Soriano, CEO of Confie and a U.S. Army veteran. "The success of our franchise program lies in that mission. It's a model that empowers entrepreneurs—many of them veterans—to build businesses that truly make an impact in their local areas." Freeway's franchise model was recently recognized by Entrepreneur magazine as a top Low-Cost Franchise opportunity and awarded the prestigious Franchise 500® badge. With a standard franchise fee of just $25,000—and a discounted rate of $15,000 for honorably discharged veterans—the program offers an accessible path to business ownership. "Freeway franchisees are thriving because they're delivering essential services to their communities," said Alex Trachtman, Senior Vice President of Franchise Sales and Operations. "Our model stands out for its affordability, comprehensive training, and ongoing support. We're removing barriers to business ownership while helping franchisees grow with confidence." In addition to the new Connecticut location, recent franchise openings include Alabama, Colorado, Florida, Georgia, Illinois, and Tennessee. Further expansion is underway in states such as Ohio and North Carolina, with more locations in development nationwide. For more information about franchising opportunities with Freeway Insurance, visit About Confie Established in 2008, Confie is the largest auto insurance and personal lines distributor in the U.S. with employees located throughout the U.S. and Mexico. Today, Confie meets customers wherever they are with more than 1250+ retail locations in 28 states, the Bluefire general agency, and a telephone and online shared service center servicing all 50 states. With flexible insurance options, outstanding value, and convenient service, Confie's mission is to be the most trusted source of insurance solutions so customers can have peace of mind. Confie is a portfolio company of Alliant. For more information about Confie, visit Media Contact: Rose Carter1-877-822-3024398526@ View original content to download multimedia: SOURCE Confie Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
a day ago
- Business
- Forbes
Five Tenets To Thrive In The Age Of Agentic AI
Monish Darda is the cofounder and CTO of Icertis. The business landscape is witnessing a transformative era with the rapid emergence of agentic AI. It's no longer on the horizon—it's here and shaping how companies operate, deliver value and grow. In fact, a recent study found that more than 85% of the c-suite was prepared to increase their GenAI investment in 2025. The question facing business leaders today is not whether to act, but how to act to gain strategic advantage. The real opportunity lies in agentic workflows that don't just automate tasks, but empower AI agents to make decisions, take action responsibly, and deliver outcomes at scale. Those who invest in building agentic workflows will lead in efficiency, customer value and innovation, while those who wait risk falling behind. We've seen this story before. Businesses that historically resisted investing in emerging technologies found themselves struggling to grow or, worse, becoming obsolete. Reflecting on the manufacturing boom of the 1960s, companies like General Motors that embraced automation technologies surged ahead. In contrast, those hesitant to adopt new technologies often found themselves outpaced by their competitors. By betting on the future of AI, you're banking on long-term growth. Here are five tenets to guide business leaders in realizing the full potential of agentic AI in their enterprise. Agentic AI demands quality, accessible data Agentic AI operates by learning from large datasets to generate predictions and ultimately take action. For enterprises, this means having solutions that not only store vast amounts of data but also organize it in ways that are accessible and useful for AI algorithms. The efficacy of AI models is only as good as the data on which they are trained. Structured data not only improves business performance but also empowers AI agents to act based on the most relevant and current information. In short, better data means better strategic outcomes tied to revenue, cost savings and compliance. Agentic AI requires guardrails As businesses deploy autonomous, AI-powered agentic workflows, they must ensure these agents operate within predefined parameters. When deployed the right way, agentic workflows act as a force multiplier for productivity by solving multi-step problems at scale. However, they need strong governance in order to make informed decisions that do not create unnecessary risk. For instance, contracts set the rules of business relationships and can act as guides for these workflows, helping agents take actions like fulfilling a customer service request or paying a supplier. Ultimately, building trust in agents starts by ensuring they follow the same rules of business as their human counterparts and grounding AI agents with guardrails designed to protect the enterprise. Agentic AI builds on defined business processes Agentic AI can automate complex business processes, from analyzing the financial terms in contracts to identifying hidden savings opportunities and monitoring deliverables. However, AI cannot automate what does not exist. Defined processes and systems must already be part of an enterprise's foundation in order for agentic workflows to create new efficiencies. Enterprises need strong established operations, including processes, integrated systems and a strategic roadmap for delivering value. Business leaders who have the right groundwork in place before applying agentic AI will see faster time-to-value. Agentic AI requires a culture shift Introducing any type of AI into an organization calls for a culture that embraces continuous learning and innovation. It's essential to communicate benefits and changes transparently to alleviate fears and build excitement around emerging technology. This will likely involve upskilling staff to manage and work alongside AI as it evolves. Consider the role that agentic AI could play for legal teams to automate low-risk contract reviews or identify noncompliance. According to a recent study sponsored by my company, 35% of legal teams use AI for post-execution contract management—a substantial jump from last year's 9%. Law is inherently human to human, but AI will continue to disrupt the way legal teams work for those who are willing to embrace its potential. Agentic AI warrants the need for security As AI becomes more embedded in core operations, the risk landscape expands, introducing new vulnerabilities related to data access, usage and protection. To manage this complexity, business leaders should treat cybersecurity as a core priority that is more than just an IT function. This includes implementing robust access controls, advanced threat detection, encryption, updated policies and regular employee training sessions. Those that scale AI with security at the forefront will be best positioned to protect their data, their outcomes and their brand. The Bottom Line: Agentic AI is a worthwhile investment While the initial cost of agentic AI implementation might be substantial, the long-term benefits of staying competitive in the digital era outweigh these expenses. The autonomous enterprise is beginning to take shape, as seen with autonomous contracting. For business leaders ready to lead in the age of AI, these five tenets will serve as a strong foundation for long-term growth and strategic advantage. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Forbes
a day ago
- Business
- Forbes
The 5-Step Ritual Successful Founders Use Between Victories
The 5-step ritual successful founders use between victories Most entrepreneurs race to the next thing after hitting a milestone. The deal is barely done before they're hunting for their next mountain to climb. The next dopamine hit. This constant motion feels productive but leads to rushed decisions, wasted resources, and businesses built on shaky foundations. Your entire legacy might depend on your ability to stop and think clearly before your next venture, pivot or offering. When I sold my social media agency in 2021 after ten years of building, I refused to jump into anything new. Instead of immediately buying domain names for new ventures or signing up to another decade of commitment, I created space to think. This deliberate break became the most valuable part of my entrepreneurial journey and directly influenced what became Coachvox. Constant momentum: is it really serving you? Entrepreneurs pride themselves on action. We celebrate the hustlers and the go-getters who make things happen through sheer force of will. But without strategic stopping points, we risk building impressive momentum in entirely the wrong direction. Hit the pause button before pressing play. You can fast-forward later. The first rule for any entrepreneur taking a strategic break: do not buy domain names. This might sound trivial, but it matters. Buying a domain name is the first concrete step toward commitment. This symbolises any investment into a new idea. Once you've made that purchase, you've invested. You've put skin in the game. You risk falling for sunk cost bias, even at a few hundred dollars. Between businesses, I had a strict rule: explore freely, commit to nothing. This boundary kept me from prematurely locking into ideas that felt exciting in the moment but wouldn't stand the test of time. Make this your rule too. No domains, no landing pages, no LLC filings until you're absolutely certain. Capture every business idea that comes to mind during your thinking space. I created a simple spreadsheet with columns for the business concept, target audience, problem solved, first five steps, and growth potential. Each time inspiration struck, I documented it without action. By the time I was ready to commit, I had 30 different business ideas. The business I eventually launched was actually idea number 22. It wasn't the first, last, or most initially exciting. But it showed the most promise after careful, unhurried consideration. This spreadsheet approach creates a valuable record you can revisit. Some ideas that seem brilliant at first glance look ordinary later. Others gain strength with time. Be open to signals that validate or disprove each one. Avoid wasting years on the wrong path. Your environment has a huge influence on your mind. Your thinking transforms when you physically change locations. I noticed that business ideas that came to me in my hometown were small, local and service based. Limited in scope and scale. But when I traveled, when I expanded my horizons physically, my business thinking expanded too. The ideas that came up while seeing different parts of the world were bigger, more ambitious, and more likely to create meaningful impact. Get the pattern interrupt you need to think more clearly. A deliberate break gives you the chance to change both. Book the trip. Get out of town. Expand your mind. All sorts of biases sneak in when making big decisions about your next move. Sunk cost bias is major. You should never do something just because you've been doing it so far. There's also recency bias, where the latest idea seems like the best simply because it's fresh. Then there's the Einstellung effect, where you default to doing what you already know works, even if it's not the best solution right now. Taking time creates distance from these biases. Get the perspective that's impossible when rushing from one commitment to the next. Spot patterns in your thinking that might be leading you astray. Write down these biases when you notice them. Reduce their power over your decisions and move forward on your own terms. Strategic stopping isn't meant to last forever. At some point, you need to commit and move forward. But how do you know when that time has come? Set a specific timeframe at the beginning. Whether it's three months, six months, or a year, having a defined period creates healthy pressure. For me, it was when one idea kept rising to the top regardless of what new inputs I was receiving. When Coachvox continued to be the best option whether I was looking at market size, my personal interest, or alignment with my strengths, I knew it was time to act. The thinking space had done its job.
