Mike Repole, a billionaire who sold two beverage companies to Coca-Cola, warns aspiring entrepreneurs about the high risks and survival challenges in the first years, emphasizing that most startups face bankruptcy and success is not guaranteed.
Howard Schultz, Starbucks' chairman emeritus, advises young entrepreneurs to gain experience by working for value-aligned companies before starting their own ventures. He emphasizes learning from organizational operations and surrounding oneself with skilled individuals. Schultz also highlights the importance of perseverance, sharing his own experiences of overcoming early rejections when building Starbucks. He encourages young leaders to ignore naysayers and maintain belief in their dreams, while also being realistic about their circumstances.
Billionaire entrepreneur Mark Cuban advises against starting a business based on passion, urging workers to focus on money and building wealth instead. While he initially aimed to retire by 35, Cuban's competitive nature led him to prioritize gaining a power foothold and disrupting industries. He emphasizes the importance of effort and proactive problem-solving for success, and his latest venture, Cost Plus Drugs, reflects his focus on creating positive social change.
Billionaire John Paul DeJoria, co-founder of Paul Mitchell and Patrón Spirits, emphasizes the importance of mastering the skill of dealing with rejection for success. Drawing from his own experiences, DeJoria advises being prepared for rejection and not letting it affect or discourage you. He believes that reframing failure as a learning opportunity and persistently pursuing your goals, even in the face of rejection, can lead to long-term success. DeJoria encourages entrepreneurs to believe in their products or services, as customers will pay for quality, even if it's more expensive than existing alternatives.
Hailey Bieber revealed in a YouTube video with Kim Kardashian that the reality star was the "first person" she called for advice when she started developing her skincare brand, Rhode. Kardashian gave Bieber valuable advice on starting a company and encouraged her to feel confident in her unique approach. Bieber celebrated Rhode's one-year anniversary last week with a party in New York City. The brand's philosophy is to offer a curated line of essential skincare products.
Martha Stewart has criticized remote work, stating that it is impossible to get everything done working three days in the office and two days remotely. She has been a long-time proponent of the hustle culture and believes that employers should be able to call employees anytime, even on weekends. Many major companies are requiring employees to return to the office, but employees are pushing back against the mandate. In addition to her views on remote work, Stewart also shared her business advice, including her preference for green juice and her belief that a boss never orders decaf.