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10 Business Leaders Share Their Words Of Wisdom For First-Time Entrepreneurs



There is no shortage of advice blogs, books and podcasts about entrepreneurship these days. Sifting through all of this advice can take up valuable time and, unfortunately, not all of it will actually help you succeed.

That’s why it’s helpful to learn targeted tips from entrepreneurs who understand what it takes to launch and grow a successful startup. To share the good and warn against the bad, 10 members of Young Entrepreneur Council gave their advice for first-time entrepreneurs. Follow their tips when you need guidance to get you through the early days of your business endeavors.

1. Get A Mentor

One of the most important relationships a fledgling entrepreneur can have is with a mentor. A mentor is a trusted advisor who helps you grow professionally and personally by offering advanced knowledge and experience. Mentors often help you set goals, maintain accountability and offer encouragement. They can help establish connections that will foster business growth and provide constructive feedback. Look to your existing network to find a mentor. Ask colleagues for recommendations. Find someone using LinkedIn who is successful in their business and reach out. – Jared Weitz, United Capital Source Inc.

2. Follow A Process That Works

I would advise them to follow a process that works. There are countless businesses out there that are successful because they follow a system. This doesn’t necessarily mean following the system of a franchise or dealership. Join industry-related groups online as well as local, if applicable. Find some entrepreneurial mentors or coaches who can help you on your journey in your specific niche. There may be people you can hire to coach you through the process and along the journey who have already had the success that you want to achieve. Don’t try to just guess, but follow people who have already had success. This will save you time and avoid the trial and error so many entrepreneurs face when launching out on their own. Try modeling successful businesses and emulate what’s working. – Bryan Citrin, Chiropractic Advertising

3. Grind And Get Things Done

Grind. This might include keeping your day job while pushing with a new opportunity. It might include foregoing nights and weekends to push harder. Entrepreneurship is not a 9-to-5 endeavor. It’s sometimes 24/7. Second, seek out mentors and guides, but be respectful of their time. Most people are willing to offer thoughts, advice, guidance and connections, but can’t dedicate significant chunks of hours with what is probably already a busy and full schedule. Lastly, don’t overthink what you’re trying to do. Bite off something that you can do first, get it done and move on to the next. That might be individual tasks, but it might also be product delivery pieces. You’ll learn as you go and will be smarter for each part you start and finish. – Andrew Howlett, Struck

4. Have A Plan And Be Patient

Have a plan, love what you do, be patient and be in it for the long haul. The idea of entrepreneurship—setting up your own business, being your own boss and making a lot of money—can be seductive. However, the realities of entrepreneurship are very different. While all the glory can be yours if things go well, conversely, the risk is also yours and sometimes things don’t go as planned. This is why it is so important to have a plan and focus on something you really care about. Building a business takes years of effort and energy with many ups and downs, but if you have a plan and you love what you do, you will always be able to stay motivated and have the patience to persevere despite the inevitable bumps along the way. – Maria Thimothy, OneIMS

5. Be A Practical Dreamer

Have a strong, clear vision of the fully realized potential of your company, but create a business plan for the real world that maps out capital and labor requirements. There are a lot of dreamers who don’t execute and a lot of analytical folks who lack imagination. Entrepreneurs need to be practical dreamers and understand both sides. If you can show that you know how to “connect the dots” to your vision, you will get a lot of people to believe in you. Once you get those people who believe in you–employees, clients, investors and partners—don’t take the relationships for granted, and invest back in them. – Miles Jennings,

6. Have Something To Fall Back On

If your startup doesn’t work out, you can fall back on something. That can be a side hustle, a consulting gig or simply going back to the job market. My first try at entrepreneurship ended after a year because I got a job offer I couldn’t refuse. Before trying a startup again I got an MBA and worked for large corporations like Microsoft to hone my skills. – David Boehl,

7. Test New Approaches

You won’t make millions from day one. But if you persistently and creatively generate and test new approaches that will make you millions, sooner or later, you will find a repeatable model. It will be fine to combine “traditional” business and test new hypotheses. Moreover, it is the least risky way, if that word even applies to entrepreneurship. So don’t stop there. – Maksym Babych, SpdLoad

8. Turn Weaknesses Into Strengths

Discover how every weakness can become a strength, and how every negative can be used as a positive. Too young? Great, ask questions and bring out the mentor in people. Too old? Everyone loves to see someone shake the dust off their life and grow again. Too broke? Let it be the fuel for your dreams. Remember, so many of us are stuck in this mindset of writing off our dreams as impossible. Actively practice the opposite. Stay agile, stay positive and pivot like you’re in a boxing ring until you find an angle that works. It’s a beautiful battle to be a part of, and when you take the leap, the winds of assistance will rise to meet you. – Tyler Bray, TK Trailer Parts

9. Focus On Distribution

First-time entrepreneurs think about product; second-time entrepreneurs think about distribution. It’s important to perfect your product and offer something that people are really going to want. But it’s just as important to focus on your distribution from the start and really build your company around how you’re going to get customers. Without customers, you don’t have a business, but a business that bakes in distribution from the start will be much more customer-focused and deliver an experience that people will really get excited about. – Cody Candee, Bounce

10. Remain Consistent

For someone entering entrepreneurship for the first time, I would tell them to remain consistent if they want to reach their goals. Consistency beats talent because talent isn’t reliable and doesn’t guarantee growth. It’s only consistent hard work and effort that’ll get you the results you desire. There’ll be many days when you feel like slacking or skipping a day, but it’s important to remember why you started a business in the first place. – Stephanie Wells, Formidable Forms

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Here’s how technology and innovation are driving the growth of Arista Vault, India’s first smart luggage brand



It was a crisp winter evening in October 2017 when Purvi Roy, an ace designer who studied at Nuova Accademia di Belle Arti in Milan, presented her high fashion fall winter collection – Warriors Alley- at India Runway Week. The collection was powerful and the show was a great success. At the after-party, she crossed paths with Colonel Krishan Kumar Singh and finance expert Atul Gupta.

After a brief conversation with Purvi, the Colonel suggested that maybe it was time for her to do something for the regular masses which would serve a larger purpose. They began brainstorming and after much deliberation, hard work, and perseverance Arista Vault was born.

Arista Vault is an innovative tech company creating concept-based products to make human life easy, simple, and safe. The company is headquartered in Delhi with offices in Gurugram, Bengaluru, Kolkata and Goa. One of their first offerings was a smart wallet with inbuilt anti-theft and anti-loss features, that would keep your most valuable belongings safe and protected while travelling.

“Arista is a Sanskrit word that means ‘unhurt’ or safest, and vault is a safe. We particularly chose a Sanskrit word for the name because while we go global it will always depict the roots which are Indian; so Arista Vault is a proud Made in India brand,” reveals Purvi.

As a D2C brand, it is also India’s first smart luggage company having filed six patents with one of them being an internationally published patent. The company is the perfect amalgamation of indigenous technology and in-house design that attempts to make customers feel the luxury as well as the safety of carrying a smart wallet.

Backed by Purvi’s years of knowledge and experience as a designer, the wallet while being the best at technology also has the slimmest silhouette which gives it a very luxurious look, making it a great gifting product. Purvi always wanted to make sure that the aesthetics of the product felt opulent, hence it has a jewel packaging with a matte-finished box.

The logo which is a power button inside a hexagon has a touch of gold to it, symbolic of a sense of pride and luxury. So you have a plush feeling when you own an Arista Vault smart wallet along with complete security of your wallet and its belongings.

Making traveller’s life hassle-free

If you had a penny for every time your heart skipped a beat while you frantically searched your pockets thinking you had lost your wallet, you’d probably beat Elon Musk’s wealth!

While that is a far-fetched reality, safeguarding your wallet is not. Arista’s Smart Wallet, with its many features, offers customers the relief to travel hassle-free even in crowded areas like trains and buses. The wallet has a power button which when pressed activates its features.


Its main USP is the anti-loss and anti-theft features. It comes with an abundance of technologies such as an anti-theft alarm, built-in power bank, two-way tracker, remote selfie feature, RFID protection. The wallet also has a 20-meter separation alarm with two-way connectivity to your mobile phone. This way the phone can ring the wallet and vice versa. This feature especially comes in handy if your phone is either lost or stolen.

To enable such a high level of technology in a product as simple as a wallet would mean a dedicated amount of research and development.

“We are backed by the Ministry of Electronics and Information Technology and were incubated at the Electropreneur park and IIITD. We work in two world-class labs – Power lab and Fab Lab, which have state-of-the-art technology where the design, research, and technology integration are done. We also have a dedicated tannery and product design manufacturing unit where the integration of technology is done into the product after three layers of quality control,” Purvi says.

Along with technology and design, the co-founders were clear on maintaining the highest level of safety for the smart wallets. Hence all wallets are ISO certified with their privacy policy in compliance with the IT Act of the Government. As of the last quarter of this year, 6,000 smart wallets were sold amounting to Rs 2.6 crore.

Challenges along the way

It’s the trailblazing technology that makes the smart wallets of Arista Vault stand out. But this technology was not easy to develop. Purvi says that it took over a year of R&D to develop a prototype finally, but by this time all the seed fund had been exhausted.

“We knew we had a great product but for further research, innovation and product marketing more capital was needed. So all the three founders decided to put their savings and I supported the company with the earnings of my fashion venture that had initially incubated Arista Vault,” Purvi adds.

The company ran a pilot of their wallets on Amazon Launchpad and those were all sold out within three days. They used all the feedback received to further improve the product. The turning point in their entrepreneurial journey came in 2019 when the company got funding and support from the Ministry of Electronics & Information Technology under Electronics System Design & Manufacturing (ESDM), with Software Technology Parks of India (STPI) & Electropreneur Park.

Using this support, Arista Vault was able to scale their venture sustainably to build world-class smart wallets that eventually got them recognition from Amazon with the Viewer’s Choice award as an Emerging Brand in 2019. In 2021, the company received the prestigious Star award for Most Innovative Brand Year. They were also able to enter the international market by exporting their products to Germany, Chile, Dubai, and other gulf countries and finally to the USA.

This year the company achieved a major milestone in its journey when it became one of the few smart luggage brands in India to raise funding from Germany-based MainStage Angel Network and UK-based Pontaq VC.

Establishing itself in a new segment

Purvi says that while the funding was a great boost both financially and morally, the true journey of the company has begun now. The capital raised is being used to scale the business and establish itself as a market leader in a fairly new segment of smart luggage.

To do this, the company has grown its distribution model and channel partners to cover various cities across the country where Arista Vault products are being sold in a brick-and-mortar model. They have forged partnerships with relevant stakeholders like the Goa government to enter the travel and tourism sector as well, with their smart products.

In October when Prime Minister Narendra Modi launched 5G services in India, Arista Vault was one of the few tech companies to exhibit their smart products. They are also coming up with a series of 5G-implemented products.


Going ahead, the company wishes to build a strong presence in the smart luggage market in a B2B model. For that, they recently launched their Switch2Smart range which has a variety of smart business bags, business trolleys, laptop bags and file holders. These bags have features like GPS live and lost location which makes it almost impossible for them to be lost or stolen. They also have other features like smart charging for mobile phones, geofencing and anti-skimming.

“Nowadays from our homes to watches, everything is smart. So why should our bags be left behind? The Switch2Smart range of Arista Vault will give travellers the luxury to be free and not worry about their luggage,” Purvi says. The company has already started generating sales with B2B orders displayed in DIW 2022 Gift Expo.

In FY 2020-2021, the company generated revenue of Rs 3.59 crore and now they are well on their way to achieving Rs 12-15 crore in this financial year showing more than 4X growth in business.

Along with the sales generated on Amazon, Flipkart and their own website, this festive season Arista Vault also got into corporate gifting for occasions like Diwali and has completed bulk orders from companies such as Bharati Cement, Mitsubishi, etc. They also recently started with in the US and UAE.

“Going forward, both B2B and B2C have their specific areas to serve. Our products are innovative and new and require consumer awareness which is possible primarily through B2C. However at a certain level to reach a wider audience, B2B is a preferred mode of business,” Purvi adds.

Arista Vault aims to establish itself as a market leader in the smart luggage category by bringing revolutionary technology to wallets, business bags, travel backpacks and much more. In the coming year, they wish to strengthen their brand presence in India as well as abroad by launching another 15 product categories worldwide.

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Elon Musk Reveals Twitter Will Soon Release a New Feature



Elon Musk continues to reach out directly to Twitter users to get feedback on his newly acquired platform.

In a tweet earlier today, the billionaire/Chief Twit turned his focus on lurkers who consume the content but don’t contribute. He politely encouraged these so-called ‘doom scrollers’ to get involved.

“I meet so many people who read twitter every day but almost never tweet,” he wrote. “If I may beg your indulgence, please add your voice to the public dialogue!”

Musk has reason to be concerned. According to a study done in 2021, around 25% of Twitter users in the U.S. produce around 97% of all tweets.

His plea to be more active on the platform received nearly 85,000 responses, but he honed in on one in particular from a Twitter user named Rocket_Medic who, perhaps channeling hundreds of thousands of others in the Twitterverse, wrote:

“I reply a lot…no one reads my tweets.”

Musk then asked Rocket_Medic if he was aware of Twitter Analytics, which can be surfaced by clicking on the graph icon at the bottom right of all users’ tweets. The feature lets you know how many times people have seen, Retweeted, liked, and replied to each tweet.

Musk told Medic that he shouldn’t be bothered by the low reply rate since that’s not the metric that really matters. “Those who read tweets outnumber those who reply/retweet/like tweets by over 1000%,” Musk wrote.

At this point, Musk revealed an upcoming feature that had not yet been discussed publicly.

Twitter will soon start displaying tweet reach metrics up-front on all tweets, just like they do for video views.

The reaction to Musk’s announcement seemed mostly positive, with over 15,000 likes. But one user was not convinced.

@JamieHutchens4 replied:

“My Tweets get zero reactions. I think that’s the case with most people. No reactions give a feeling of being unimportant. Avoiding that feeling is likely why lots do not tweet. Most probably don’t even realize that is why they aren’t Tweeting.”

To which Musk replied: “How many views do your tweets get?”

At press time, @JamieHutchens4 still had yet to respond to Musk’s question.

Ironically, his tweet has been liked over 10,000 times, with nearly 800 replies.

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CEO of Amazon Says Platform Won’t Stop Selling Anti-semitic Film From Kyrie Irving Tweet



Opinions expressed by Entrepreneur contributors are their own.

On Wednesday, Amazon CEO Andy Jassy said the company would not be removing the antisemitic film Hebrews to Negroes: Wake Up Black America from its streaming service. Jewish groups such as the Anti-Defamation League (ADL) have prodded Amazon to take down the film because it contains antisemitic tropes and allegations that, throughout history, Jews have conspired to oppress Black people.

Michael M. Santiago | Getty Images

The video first received widespread attention near the end of October after Brooklyn Nets guard Kyrie Irving shared a link to it on Twitter.

Speaking at the New York Times DealBook Summit, Jassy — who is Jewish — said Amazon should allow access to controversial viewpoints. He continued: “As a retailer of content to hundreds of millions of customers with a lot of different viewpoints, we have to allow access to those viewpoints, even if they are objectionable — objectionable and they differ from our particular viewpoints.”

Jassy added that Amazon must be consistent with its policies and take care not to censor content. If the media “actively incites or promotes violence,” Jassy said, “or teaches people to do things like pedophilia,” the decision to take it down is “more straightforward.”

Amazon has “very expansive customer reviews,” according to Jassy, and where any kind of media receiving considerable public attention are concerned, “customers do a good job of warning other people.” According to the Times, Amazon has indicated that it is considering adding a disclaimer to Wake Up, but Jassy also expressed confidence in customer reviews playing a role in how the video is perceived.

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