Indholdsfortegnelse for November/December 2024 i Entrepreneur Magazine

I RECENTLY BOMBED for the first time in my professional career. Like, truly bombed. It happened in August. I was speaking at a conference in Las Vegas, telling a story I’ve told hundreds of times. Then something went wrong. My mind scrambled. I lost the thread. I stammered and struggled as hundreds of people watched. It was excruciating and embarrassing. But here’s the truly shocking part: It wasn’t a disaster. People were happy. Grateful, even. They thanked me. Today, I want to tell you what I learned. Because I’m sure you’ve had moments like this too—when you’ve lost control, and everything fell apart. And I have really good news: Recovery isn’t as hard as you think. Here’s what happened. I’m in a Vegas conference room, about to keynote a conference…

1/Embrace open dialogue. “I find that younger generations are more forward with communicating their expectations. When I started my career in 1998, being open and vocal was looked down on as being unprofessional, but now I realize open dialogue helps determine if expectations are aligned. During the hiring process, one candidate shared that traveling for work was not preferred. I knew the role required traveling often, so it was easy to determine this person wasn’t compatible.” —JOYCE DE LEMOS, cofounder, Dieux 2/Empower younger workers. “I think about two girls I hired who started off very unsure and shy. They stood around waiting for instructions, and had trouble with the fast-paced atmosphere. I thought about letting them go, but decided on a different approach. I enlisted them to train someone, telling…

I thought I understood my clients’ needs. Then I started doing the same work as them—and realized how much I had to learn. It was humbling, but it also made me better at my job. Back in 2001, I cofounded an agency called Love, which designs brands, packaging, communications campaigns, and experiences for the likes of Jim Beam, Johnnie Walker, and Guinness. Over the years, we’ve come up with a lot of ideas that never saw the light of day; we called them “urchins”—wily ideas without a home. So in 2020, we launched Urchin Spirits, with hopes of filling “fat niches” in the spirits market—or underserved segments with low barriers to entry, but significant growth potential. But pretty quickly, we realized there were a lot of external factors affecting our…

The fourth-largest economy in Sub-Saharan Africa, Kenya strengthens its position as an attractive investment destination for firms looking to enter local, regional, or Pan-African emerging markets. As a member of the East African Community (EAC) and the Africa Continental Free Trade Area (AfCFTA), as well as other important trade blocs like COMESA, businesses in Kenya benefit from exclusive trade access to a market of over 600 million consumers. Kenya is also one of the strongest economies in Africa, with the IMF estimating economic growth at 5.0% this year. Kenya’s banking sector has been a crucial driver of the country’s economic growth and its reputation as East Africa’s premier financial hub. There are over 40 commercial banks registered in Kenya. Over the past two decades, the demand for sophisticated financial products…

Huge infrastructure projects and the completed expansion of the Panama Canal will “boost and extend” Panama’s growth for years to come, according to professional services company PWC. The company highlighted Panama’s “well-developed service sector” with thriving segments including banking, tourism, and trading. These have driven rapid growth over the two decades to 2019, and the country has since experienced a strong rebound from the pandemic, with GDP expanding by 7.3% in 2023, as the IMF has noted. The country will continue to benefit from its hugely strategic location and openness to the world. “Our privileged geographic position made us the crossing and meeting point of the Americas,” said President José Raúl Mulino in his September 2024 speech to the UN. “We had the first railroad linking the Atlantic and the…

1/Snap the action. To catch the best shot with virtually no setup time, try the GoPro Hero13 Black [from $400; gopro.com]. It has speedy mounting and accepts HB-Series Lenses [from $70 to $130] with auto-detect that instantly adjusts the camera settings. The waterproof and scratch-resistant lenses include an ultrawide lens, which bumps the camera’s 156-degree field of view up to 177 degrees for more editing and cropping freedom, and a macro lens, which gets four times closer for dramatic detail. 2/Eat on the go. In the blur of busy mornings, breakfast can be the first thing on the chopping block, but this powerful, portable blender nourishes you on the run. The stainless steel Nutribullet Flip [$100; nutribullet.com] keeps ice and frozen ingredients solid for 24 hours, so you can pack it…

Growing net exports driven by a record expansion in tourism and mining drove Jamaica’s GDP beyond pre-pandemic levels in 2023, according to the World Bank, with unemployment reaching record lows. One of the top two shipping organisations in Jamaica, Ian K (Agencies) has played a key role in developing the country’s trade links for more than four decades. “We’re a true pioneer in trade in Jamaica, we are always thinking outside the box,” says Hon. Ian Kent Levy, OJ, CD, OD, chairman of Ian K (Agencies). “We have changed the economy, and changed people’s lives. When we started in the 1978, Jamaica was a socialist country, very close to Cuba. The economy was closing down, and there was nothing in the supermarkets. Then I made friends with the vice president…

In 2020, Just Between Friends was facing a crisis. It’s an events-based business, which meant it was hit especially hard by COVID. Meanwhile, the husband of one of its founders became seriously ill, so she needed to step back from day-to-day operations. The company began looking for a president to take over—and Tracy Panase was sure she’d be considered. She was the brand’s top franchisee, after all. Three of her four locations were among the company’s top 10 earners nationwide. She’d be a perfect president, she thought. But they never called her. Panase stewed over this. Then she talked it over with her husband. “Did you raise your hand?” he asked her. “No, I didn’t,” she realized. She assumed that her hard work and success would speak for itself, but…

I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn’t sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear “yes!” Instead, what I found was a tarot card deck. I wasn’t especially interested in tarot, but I spotted it in a store and was desperate for answers. So I bought the deck. Maybe this could…tell my future or something? I quickly learned that tarot does not, in fact, make predictions. Instead, it does something real and actually valuable: It prompts questions. I’d pull a card. It would have, say, a bear on it. (This was…

In an online shopping market overflowing with millions of digital storefronts, it’s increasingly challenging for brands to rise above the competition. And with 8 trillion online retail sales projected by 20271, it’s only getting harder. To stand out from the crowd — and appeal to shoppers who prioritize sustainability — brands are moving away from plastic and embracing innovative paper packaging. By increasing recyclability and reducing waste, paper-based shipping and packaging innovations allow brands to meet their sustainability and branding goals. They offer the ideal surface for printing bespoke branding and graphics inside and out and creating memorable unboxing experiences for consumers. Additionally, customized boxes can be designed to fit products perfectly while being lightweight, yet strong and durable enough to withstand transport. Sustainable paper packaging solutions are evolving beyond…

I recently met with a potential client. They’ve been in business for a few years, and they’re eager to start growing fast. That’s why they want press. “Get me a big feature in a major publication,” they told me. Then I told them three truths they didn’t want to hear: HARD TRUTH #1: You probably won’t get that feature. HARD TRUTH #2: Even if you do get that feature, it won’t help you the way you’d hope. HARD TRUTH #3: Don’t hire me right now. You should do this stuff yourself. I’ve been in this industry for 17 years. My agency, Jack Taylor, represents many premium brands in health and wellness. Hiring us is expensive, and I’m proud of the work we do. And yet: My peers in PR may not…

One of the world’s most exciting economies over the past two and a half decades, Mexico saw its trade with China increase fortyfold between 2000 and 2021, while achieving the largest increase in goods trade with the US of any world economy except China itself, according to global management consultancy McKinsey. In 2019, the Latin American giant overtook China as the US’s largest trading partner, thanks in large part to the US–Canada–Mexico Trade Agreement, which should continue to support the growth of trade across North America. Mexico’s economic expansion and the demands of rising trade have boosted activity and investment in its transportation sector. The “transportation infrastructure equipment and services” niche alone is worth upwards of $4bn, according to the US International Trade Administration, presenting a “best prospect industry sector”…

Côte d’Ivoire is currently witnessing one of the most remarkable sustained economic growth rates in Sub-Saharan Africa, a trend that has endured for over a decade. This robust growth is fueled by significant public and private investments across key sectors, including digitalisation and transportation. The World Bank anticipates Côte d’Ivoire’s real GDP growth to average a notable 6.5% between 2024-2026. Côte d’Ivoire stands as the world’s largest producer of cocoa, accounting for nearly half of global cocoa bean production, according to Statista. However, only about a third of these beans are processed locally into products such as cocoa paste and cocoa butter, with the majority exported as raw beans. Looking forward, the cocoa industry will continue to play a pivotal role in Côte d’Ivoire’s National Development Plan, which aims to…

Situated in the heart of the Americas and home to the Panama Canal, Panama is a prime destination for investors targeting US and Latin American markets. Recognized as a global logistics and re-export hub, Panama boasts one of the highest levels of FDI in Central America, supported by its dollarized economy, pro-investment incentives, and a stable macroeconomic environment. The country’s strategic location and infrastructure make it a critical trade hotspot, especially for commerce and retail, with a rapidly growing middle class that further fuels consumer demand. Established in 1959 by Jack Btesh, Ben Betesh has grown into a leading retailer and importer of apparel and consumer goods, bringing iconic brands such as Lacoste, Marks and Spencer, Canali, Samsonite, Columbia, Diesel, Le Coq Sportif, Crocs, Speedo, and Armani, among others to…

Having experienced rapid growth over the past three decades due to an unprecedented construction boom, Panama is now Latin America’s richest country. During this period, poverty decreased from around 48.2% in 1991 to 12.9% in 2023, according to the World Bank. Additionally, the country’s middle class now represents a larger percentage of the total population than the USA’s. Despite the pandemic, Panama’s economy has grown a remarkable 39% since 2020, according to the IMF. And the country’s rapidly improving demographics, excellent regional connectivity as a gateway to LATAM and beyond, and political stability make it a compelling investment destination. Panama’s growing middle class presents a significant commercial opportunity for foreign exporters. This is particularly true of the food retail sector, where companies continually seek out new-to-market products from international brands…

As the twelfth-largest economy in the world, Mexico has demonstrated remarkable macroeconomic stability and garnered investor confidence over the past two decades. With its potential to lead a nearshoring boom, Mexico is uniquely positioned to attract investments that not only drive economic growth but also generate positive social and environmental impacts. According to Deloitte, Mexico stands to gain significant rewards from this trend in the coming years. Its extensive network of free trade agreements, including the USMCA with the United States and Canada, coupled with its commitment to inclusive economic reform and modernization, make the country a premier destination for investments that align with long-term sustainability goals. In 2023, Mexico attracted nearly $33 billion in foreign direct investment (FDI), further building on an impressive total of $300 billion from 2011…

There are multiple paths to entrepreneurship. Many people start early. Some hold a regular job for a while, then take a leap into self-employment. Others take a more academic path—learning the fundamentals of business, testing their ideas in a structured setting, and entering the world of entrepreneurship armed with knowledge and connections. There’s no right answer, and formal education isn’t a requirement for success—but if a classroom path sounds appealing to you, then let this ranking be your guide. For the past 19 years, Entrepreneur has partnered with The Princeton Review to rank the top undergraduate and graduate programs for entrepreneurs. There’s a lot to weigh: The top schools teach business lessons, of course, but they also build programs that give students hands-on opportunities in startups and experimentation—all while fostering…

Last year, Kristin Kidd received an email from someone she didn’t recognize. Like most of us, Kidd was inclined to simply delete it. But something compelled her to open it and read it from start to finish. It’s a good thing she did. The email was from a representative at Amazon Business talking about the ways it helps businesses save money when purchasing office supplies and other goods. Kidd, the COO of Head to Toe Brands, was ready to learn more. “I never usually reply to email that comes from outside the organization,” Kidd explains. “However, at this point we did not have a unified partner [for ordering supplies]. At the time I was very intrigued and set up a meeting. From there it was an absolute no brainer.” Established…

I’ll never forget the day I bought a laundromat, nearly a decade ago. It was my first real step toward financial freedom. As I turned the key and shoved my shoulder into the jammed door, I paused to breathe it all in. That sweet smell of detergent…and mold. Aah! Then the doubts flashed through my mind: Codie, WTF have you gotten yourself into? You know nothing about washing machines. You barely do your own laundry! I batted the thoughts away. For better or worse, everything was about to change—because I had a theory, and I was putting my own money down to test it. Here’s the big idea: Buying Main Street businesses is the most underrated path to wealth. If you do it right and are willing to put in…

Côte d’Ivoire, the economic leader of Francophone West Africa, is poised to become one of the region’s most digitally advanced nations. The government has committed to investing a staggering USD 3 billion to develop cutting-edge digital infrastructure and build a more transparent, inclusive economy. At the helm of this transformation is Côte d’Ivoire’s telecommunications sector, which is already the most advanced in West Africa. Contributing 11% to the national GDP, according to the International Trade Administration (ITA), and generating nearly USD 1 billion in tax revenue, this sector is a vital engine of growth. As the market continues its rapid expansion, the ITA predicts a significant surge in demand for service and equipment providers, as well as for data centre and cybersecurity solutions. Established in 2012, the Autorité de Régulation…

Over the past years, Panama has solidified its position as one of the world’s very few carbon-negative countries, meaning that its forest cover captures more carbon than the country emits, as the World Bank has noted. This makes it an exemplar in combatting the climate crisis, an emerging role that complements its position as “a crucial logistical and financial centre in the region”, in the Bank’s words. Construction and real estate are two of the most dynamic sectors in this burgeoning economy. The construction market was worth more than $21bn in 2023 and is expected to grow 5% annually between 2025 and 2028, according to research by GlobalData. The value of residential construction alone rose by a striking 18.6% to nearly $750m in 2023, following growth of 21.2% in 2022…

To build a great business, you must change people’s behavior. But…how? Many entrepreneurs can’t do it. They craft a solution with love and care, enter a marketplace with optimism and expectations, and believe that their idea is so valuable that people will immediately see its genius. But too often, consumers look at the new product or service and think, I don’t need that. And then it dies. Ivan Zhao has thought a lot about this. Because at first, his product died too. Back in 2013, Zhao believed that lots of people wanted to build apps and websites—but they were too hard to build. That’s why he created a company called Notion, which helped people build digital products easily. But nobody wanted it. Flop. What happened next has become lore in…

Congratulations to the 2024 Pepperdine Graziadio Business School’s Most Fundable Companies presented by the Singleton Foundation for Financial Literacy & Entrepreneurship. In our seventh year, more than 2,000 early-stage US startups from across all 50 states vied for a space on the list. All 18 winners are worthy of serious investor consideration based on several variables, including financial projections, market opportunity, intellectual property, competitive advantage, and team-management expertise. Serving as a free resource for startups looking to source capital and accelerate innovation across industries and communities, our program educates founders on investor diligence and provides critical business assessments. At Pepperdine Graziadio, we believe that developing purpose-driven leaders involves connecting early-stage companies with the resources needed to positively impact the business market. Supporting aspiring entrepreneurs is at the core of Graziadio’s…

Amena Ali uses AI to make online returns management a breeze for customers and retailers alike with Optoro. Selling things online is simple. Handling the returns is not. But with veteran software executive Amena Ali at the helm, Optoro is helping some of the biggest retailers—like Ikea, Gap, American Eagle, and Best Buy—create a seamless returns process. The software-as-a-service company broke through in 2020 with its signature “express return” feature, which lets customers drop off unboxed items at stores like Staples, and has since been rolled out in over 1,000 stores. Optoro has continued to customize the returns experience, and in the summer of 2023, the company launched an at-home pickup service, which is now available in 40 cities. It’s hard to keep customers happy while reducing costs for retailers. How…

Undertaking a wide-ranging and transformative repurposing of its diverse legacy assets through sustainable initiatives, Jamaica Bauxite Mining (JBM) is taking a leading role in supporting national and global efforts to meet UN Sustainability Development Goals (SDGs). “Sustainability will drive every part of our make-up; it will be the bedrock of JBM,” says JBM managing director Donna Marie Howe. “We will be repurposing our resources and reusing them in sustainable ways. We deploy sustainable initiatives in our business; the ecosystems of our assets will produce a little sustainable village. The Governance and regulations are becoming increasingly prominent in our sector, and we are taking strident environmental and social initiatives.” Sustainability runs through JBM’s current projects in real estate, infrastructure, and mining, with the focus on achieving sustainable returns while championing environmental…

IF YOU WANT to work in restaurants, look at the business through Sonu Chandi’s eyes. His life has been shaped by this business, but he also knows it’s a game of cold numbers. In 2000, at the age of 16, he moved to America from his small Indian village—then learned English while working at a restaurant his dad managed. In 2003, his dad and two partners opened a restaurant, and Chandi got involved with the front-of-house. “That’s how I learned how the restaurant world works,” he says. Then he got into the business himself. He bought an existing Mountain Mike’s Pizza franchise in 2007. And now Chandi Hospitality Group, a company he founded with his brothers, runs 17 Mountain Mike’s, is opening 10 units of Guy Fieri’s Chicken Guy! and owns…