Should Entrepreneurs Lie? (And How A Lie Saved Stonyfield Farm)
Here at Entrepreneur magazine, we hear a lot of stories about how entrepreneurs founded their companies. Many tend to follow a similar format. Someone has an idea. They take a bold risk to make it a reality, often sacrificing a fair amount of time, money, and relationships in the process. They become incredibly resourceful. They outsmart their competition. And at some point... they lie. It's so common to hear about an entrepreneur's lie -- to win over a first client, say, or to bring in resources when they're needed the most -- that we forget to pause and ask: Where's the line? On this episode, we consider the question with the cofounder of Stonyfield Yogurt, who saved his company in its early days with a particularly clever and daring bend of the truth. Learn more about your ad choices. Visit megaphone.fm/adchoices
20 Aug 201827min
How Tony Hawk Learned To Protect His Brand
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13 Aug 201818min
Why This CEO Fired Himself
When Matt Bodnar became CEO of Fresh Technologies, he took over a failing company and saved it from disaster. That felt great. Then he hit a wall: He couldn’t seem to get this company to grow, or to fix its internal culture. He began suffering from self-doubt. He’d always wanted to be a CEO, and he initially seemed good at it, but now here he was… failing! After a lot of soul-searching, Matt came to an important realization: He needed to identify what he was good at, and then use those strengths. And that meant no longer being a CEO. In this episode, we explore how Matt came to that conclusion -- and why it supercharged his career. Learn more about your ad choices. Visit megaphone.fm/adchoices
6 Aug 201818min
Her Company Was Growing, So Why Was It Failing?
Just Between Friends is a nationwide franchise that runs consignment events. About a decade ago, it experienced a crazy jolt: It sold more franchise units than it ever had... and that fast growth nearly bankrupted the company. Why? Because here’s the difficult truth about growing a business: Not all growth is equal. Sometimes, growth in one part of your business can harm another part of your business. So to fix the problem, Just Between Friends had to hit pause and consider some very important questions: What’s the right way to grow? And what does it really take to get there? Learn more about your ad choices. Visit megaphone.fm/adchoices
30 Jul 201823min
Why Freshbooks Launched A Competitor To Itself
Mike McDerment saw the future, and it wasn’t bright. His accounting and invoicing company, Freshbooks, was doing well with customers -- but behind the scenes, its software code was a mess and it wasn’t able to innovate as quickly as it needed to. But fixing this problem was tricky. If he ordered his team to hit pause and fix the code, years could go by and Freshbooks would lose ground to its competitors. And if his team did manage to create a better Freshbooks in the process, customers might be annoyed by the sudden change. So his solution was radical: He launched a competitor to his own company. Learn more about your ad choices. Visit megaphone.fm/adchoices
23 Jul 201821min
She Raised Millions From Investors... Then Almost Lost It All
Raquel Tavares, founder and CEO of a ghee company called Fourth & Heart, had just finished raising a round of funding -- and then her team looked at the company's numbers and realized they were almost out of money. How did this happen? The answer is simple: The company wasn't properly tracking its inventory and cost of raw materials, and now it was in a terrible bind. What does an entrepreneur do in a situation like this? Raquel is here with an incredible answer: Not only can you survive a problem like this, but you can even thrive because of it. But you’ve got to be nimble, humble, willing to make a lot of changes, and able to stomach a lot of hard conversations. Learn more about your ad choices. Visit megaphone.fm/adchoices
16 Jul 201815min
How MailChimp's CEO Became the Leader His Company Needed
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9 Jul 201822min
How to Survive When the Money Runs Out
It's perhaps the most terrifying situation an entrepreneur can face: Suddenly, the bank account is nearly empty. You can't pay your staff. You can barely keep the lights on. What now? This is what Saima Khan faced with her high-end cooking company Hampstead Kitchen. She charges a small fortune to cook intimate dinners for industry titans, celebrities, and even world leaders—but then a change in the tax law nearly wiped her out, and forced her to reconsider exactly what kind of business she was running. Learn more about your ad choices. Visit megaphone.fm/adchoices
2 Jul 201818min
