I'm The Blog

For entrepreneurs, freelancers, and small-business owners, managing software costs can be quite the balancing act. While subscriptions such as Microsoft 365 offer things like cloud storage, they also come with an ongoing cost that can be hard to justify.

That’s why Microsoft Office Professional 2021 can be a terrific option. It offers a comprehensive suite of productivity tools with a lifetime license—and for a limited time, it’s available for just $39.97 (reg. $219) through September 29.

Unlike subscription models, Microsoft Office Professional 2021 is a one-time purchase that lets you access all the essential Office apps you need—Word, Excel, PowerPoint, Outlook, Access, Publisher, and OneNote—without worrying about recurring fees or future price hikes. This means you can use these tools indefinitely on your Windows PC without needing to renew your license each year.

One of the biggest advantages of this lifetime license is that it allows you to avoid unpredictable subscription renewals. It’s perfect for professionals and entrepreneurs who want to keep their budgeting simple and predictable, with no surprises down the line.

Additionally, owning your software outright gives you a greater sense of control and security. There’s no need to worry about losing access to your Office suite if you decide not to renew a subscription or if prices change in the future. Once you’ve purchased Microsoft Office Professional 2021, it’s yours forever, offering peace of mind and stability in an ever-evolving software landscape.

Keep in mind that this offer is only available for Windows users, and you’ll need to have Windows 10 or 11 to activate the license. If that sounds like your setup, this is your chance to invest in a software suite that has been trusted by millions for decades—all for a fraction of the regular price.

Get a lifetime license to Microsoft Office Professional 2021 for Windows for just $39.97 (reg. $219) through September 29.

StackSocial prices subject to change.

As a busy professional, finding time to invest in your education can be challenging. But what if you had lifetime access to an online learning platform that lets you learn whenever and wherever you want? That’s exactly what StackSkills offers—and right now, you can get lifetime access for just $29.97 (reg. $600).

StackSkills is an intuitive, user-friendly platform that’s perfect for anyone looking to enhance their skills without committing to a rigid schedule. Whether you’re a parent returning to the workforce, a business owner looking to gain new skills, or simply someone looking to keep up with ever-evolving industries, StackSkills provides the tools and flexibility you need to stay ahead.

With instant access to a pre-selected library of more than 1,000 courses—with new courses added monthly—there’s something for everyone. The platform’s range of beginner to advanced courses covers professional topics like IT, development, graphic design, finance, business, marketing, and more.

There are even personal growth topics like mindful meditation. And with more than 350 of the web’s top instructors, you’ll be learning from some of the best in the business.

One of the greatest advantages of StackSkills is the flexibility it offers. Instead of being tied to a specific time or place, you can access the platform from anywhere and learn at your own pace. Whether you have 15 minutes during your lunch break or a few hours on the weekend, StackSkills is designed to fit seamlessly into your busy life.

Consider a business owner looking to improve their finance skills to better manage their company’s growth. They can browse the available finance courses, find what suits their needs, and immediately start building the expertise necessary to take their business to the next level. And with course certifications, they can demonstrate their newly acquired skills to clients and stakeholders.

Whether you’re starting from scratch or looking to take your knowledge to the next level, StackSkills has something for everyone.

Get lifetime access to all of StackSkills courses for just $29.97 (reg. $600) through September 29.

StackSocial prices subject to change.

A MySpace clone site called SpaceHey passed the million-user mark last week.

Its founder, 22-year-old student Anton Röhm, began working on the website during the pandemic when he was just 18 years old. The pandemic’s restrictions kept Röhm from traveling the world like he originally wanted to before starting university — so he turned to coding for fun.

“I thought hey, why don’t I build something like MySpace back then, but just new and with the basic functions, the creative freedom, and additionally solving the problems that I see on social media nowadays,” Röhm said in a 2021 talk in Hamburg, Germany. “And that’s how SpaceHey came about.”

Related: I Tried Airchat, the Hottest New Social Media App in Silicon Valley — Here’s How It Works

Röhm, who wouldn’t have been old enough to sign up for MySpace when it first launched in 2003, wrote in a reflective post that he created the initial version of SpaceHey in about 3 weeks.

SpaceHey has the same look and feel as MySpace, with profile pages, blogs, and instant messaging. It differs from the original in that users can fully customize their profiles with HTML and CSS code, share posts on other platforms, and embed content like YouTube videos.

Röhm launched the website in November 2020 as “MySpace from around 2007 with a modern tech stack” and it organically gained traction on Product Hunt and Hacker News. Reddit co-founder Alexis Ohanian even made a profile in November 2020.

Finally got one of those SpaceHey profiles everyone has been talking about ??https://t.co/9d7TVWiTGy

— Alexis Ohanian ?? (@alexisohanian) November 30, 2020

Last month, the platform surpassed one million users.

“There’s no algorithm on SpaceHey, no likes, no feed,” Röhm told Fast Company in a Thursday interview. He added that he’s trying to differentiate the platform from other social media like Facebook and X by not having “content sucking you in all the time and demanding your attention.”

Röhm tapped into anti-algorithm sentiment previously voiced by the likes of then-Twitter, now-X founder Jack Dorsey. Dorsey stated in June that “we are being programmed” through discovery algorithms and that the real debate was not about free speech but free will.

Related: Jack Dorsey Says Social Media Has an Algorithm Problem, and Elon Musk Agrees: ‘We Are Being Programmed’

Röhm’s app also joins a growing list of mainstream social media alternatives. The anti-AI app Cara, for example, gained more than half a million users within a week in June by banning AI art. Part of the reason for its momentum is Meta saying that it could use photos, art, and posts across its platforms to train its AI; Cara was an anti-AI Instagram alternative at an opportune time.

Creative entrepreneurship, a seemingly contradictory term, is a unique and extraordinary combination of skills. The balance of business and creativity is not just a skill stack — it’s a superpower that can set one apart in the business world.

Airbnb CEO Brian Chesky once asked, “Of the 500 companies in the Fortune 500, how many of them are [run by] creative people?” He takes this question even further, asking how many creatives exist on those boards of directors. Chesky noted that he might be one of the only Fortune 500 CEOs who’s a designer by trade, having studied industrial design at the Rhode Island School of Design.

His creative advantage, honed through his design background, shapes how he runs the $88 billion global home-sharing enterprise. Chesky sees himself as a designer, not a businessperson, and this identity informs how he molds his company to value good design and experiences above all else.

Creatives think differently. Entrepreneurs are resiliently efficient. By hiring entrepreneurial creatives, you bake creativity into the DNA of your organization and open up a world of quantifiable advantages that yield innovation and growth. Here’s what you need to know about these secret superheroes, their impact on your bottom line and how to leverage their powers combined.

Related: Small Business Owners Are Taking 3 Creative Actions to Achieve Their Goals in 2024, According to a New Report

Digging into the dichotomy: The creative and the entrepreneur

On the one hand, creatives are often seen as free-spirited dreamers or visionary artists who challenge the norms — judged by their ability to tell stories and evoke emotion through their work. On the other hand, entrepreneurs are often pictured as hard-and-fast or highly competitive executives who hyperfocus on the bottom line. They are judged by their ability to deliver returns for investors or scale the business at any cost.

The archetypes of the creative and the entrepreneur seem like opposites. But when an organization hires leaders who excel in both creativity and entrepreneurship, new layers of empathy and efficiency are unlocked.

Related: How To Use Entrepreneurial Creativity For Innovation

Creativity and the bottom line

A study by the global management consulting firm McKinsey & Company established a quantitative measure of creativity to examine the relationship between creativity and business performance. The results of that study showed that “creativity is strongly correlated with superior business performance” — specifically, better financial performance, innovation and growth.

Of the companies that ranked in the top quartile of creativity — as measured by the quantity, breadth and frequency of prestigious awards won over a span of 15 years — 67% of the companies ranked highest for creativity had above-average organic revenue growth, and 70% of those quantifiably creative companies had above-average total returns to shareholders.

Further, the study revealed that “creativity is at the heart of business innovation, and innovation is the engine of growth,” supporting the idea that creativity and business growth are powerful dynamics that complement each other well.

The person or organization that possesses both is unstoppable. So, how do you introduce creativity into your business? By hiring creative people.

Related: 5 Secrets to Building Your Super Team of Remote Freelancers — and How to Retain Them

The best of both worlds: Strengths of creative entrepreneurs

Creative entrepreneurs are part in the clouds, part in the numbers. We offer visionary leadership and have an uncanny ability to (quite literally) dream up an outcome. We are also adept at problem-solving, have the business sense to make practical and actionable decisions and embrace systems and frameworks to execute the broader vision.

After a successful creative career in advertising agencies and working brand-side, I can attest to how my business skills, knowledge and confidence asymmetrically expanded when I explored entrepreneurship. I started an ecommerce business that evolved into an award-winning direct-to-consumer candle brand, now expanding into retail across domestic and international markets.

Week over week, I go from curating mood boards, drafting brand guidelines, concepting ad campaigns and writing clever e-mail subject lines, scripts, or long-form content pieces to cross-checking costs and profit margins, reviewing trend forecast reports and researching customs regulations to ensure compliance with product export rules.

My creative mind is constantly being challenged, and in the process, I’ve melded, formed and strengthened my business mind. These are the kind of “powers combined” you only hear about in action movies, but they are certainly attainable for any creative seeking to evolve their professional experience.

It’s equally advantageous for businesses to scout these secret superheroes. When creative people become entrenched in business, it offers a well-rounded view of both worlds, undeniably making the creative work and the company more impactful, innovative and profitable.

3 advantages of the hybrid creative and business mind

For companies interested in embedding innovation and creativity into their culture, process and organization, here are three ways the hybrid creative and business mind is advantageous:

1. Increase empathy: A hybrid creative and business mind fosters a deeper understanding of your or your end-client’s needs and the creative team’s challenges, enabling more empathetic decision-making that will resonate with all stakeholders.
2. Improve efficiency: By blending creative problem-solving with business acumen, this merged mindset streamlines processes, reduces bottlenecks, embraces failure and encourages innovative solutions that improve productivity and profitability.
3. Better collaboration across departments: This hybrid mindset bridges the gap between creative and operational teams, fostering a shared language and mutual respect that can lead to more cohesive and effective collaboration across your organization.

Baking creativity into business

There’s no shortage of team exercises and techniques to help C-suite executives boost creativity within their organizations. But you can’t workshop your way into becoming more creative.

Creativity must exist within the heart of your hires and in the soul of your organization. It’s not just a nice-to-have but a necessity for fostering innovation and driving growth in today’s competitive business landscape.

When you hire and embed creative people into senior and executive leadership roles — and let them exercise their creativity — you grant yourself the unfair advantage of baking creativity into your business’ DNA, which has proven to foster innovation and above-average revenue growth and returns. But you have to be forward-thinking enough to take that chance with creative leadership.

In today’s modern world, the rules of the game are changing faster than ever. The risks that businesses face are no longer just financial or operational — they’ve become a tangled web of uncertainties driven by tech breakthroughs, new regulations and unpredictable global events. If you’re leading a business today, navigating these risks with agility isn’t just smart — it’s essential for survival and success.

Why risk management isn’t what it used to be

The risk landscape has gotten a lot more complicated. What used to be about managing market volatility or supply chain hiccups has now evolved into a whole new ballgame. Look at the rise in cyberattacks. A recent PwC Pulse Survey shows that 58% of businesses see more frequent cyberattacks as a major risk, a concern that’s no longer just for IT departments but for the C-suite as well. When a cyberattack hits, it can halt production lines, compromise sensitive customer information and even bring down a company’s reputation in an instant.

Or consider the energy sector, where the risk isn’t just about keeping the lights on anymore; it’s about managing carbon footprints and stranded assets. With global regulations pushing for sustainability, energy companies are finding themselves at a crossroads. Do they continue to invest in traditional fossil fuels, or do they pivot toward renewable energy sources? The financial stakes have never been higher, and the decisions made today could determine the industry’s future. Business leaders now have to rethink their entire risk strategy to stay in the game, balancing short-term profitability with long-term sustainability.

Related: How to Navigate Risk, Regulation and Resilience in Entrepreneurship

What’s driving this new risk environment?

The modern risk environment is shaped by a variety of dynamic factors, each adding a layer of complexity to how we manage risk. Understanding these factors is key to staying ahead and ensuring that your business is not just reactive, but proactive.

• Tech upgrades mean new threats: The digital revolution has brought about huge opportunities, but it also opens the door to significant cyber threats. With the increasing adoption of remote work and digital tools, the risk landscape has expanded dramatically. To stay ahead, companies need to invest in cybersecurity tools. But it’s not just about technology; it’s about building a culture of cybersecurity awareness where every employee understands their role in protecting the organization.
• Regulatory shifts: Regulatory environments are becoming increasingly complex and global, with new rules emerging faster than ever. Businesses that fail to comply with such regulations face hefty fines and reputational damage. Companies that rely heavily on international supply chains are particularly vulnerable, as political shifts can lead to sudden changes in tariffs, import/export restrictions and even currency fluctuations. Businesses must not only monitor these developments but also have contingency plans in place to pivot quickly when necessary.
• Extreme weather events: Natural disasters can cripple businesses. The impact of hurricanes, wildfires, floods and extreme weather events are being felt more frequently and with greater intensity. The National Oceanic and Atmospheric Administration (NOAA) reports that the financial toll of weather-related disasters is climbing into the billions each year. Businesses located in vulnerable regions must prioritize resilience and sustainability in their operations and develop comprehensive disaster recovery plans.
• Health crises: The Covid-19 pandemic was a wake-up call for businesses worldwide, highlighting the need for preparedness in the face of public health crises. The pandemic’s impact on supply chains, consumer behavior and business operations underscored the importance of robust risk management strategies. Looking forward, future public health emergencies — whether they be pandemics or other large-scale health threats — will require organizations to build resilience through comprehensive health protocols, remote work capabilities and adaptive supply chain strategies.
• Physical security: As physical threats like gun violence rise, investing in security measures to protect your people and assets is more important than ever. In addition to traditional security concerns, such as theft or vandalism, businesses now face the potential for violent incidents that can put employees’ lives at risk and disrupt operations. Enhancing safety protocols, from improving building access controls to conducting regular emergency drills, can help mitigate these risks.

Related: Cyber Threats Are More Prevalent Than Ever — So Don’t Leave Your Business Exposed. Here’s How to Protect It

How to stay ahead of the game

Thriving in today’s risk environment means thinking ahead, staying adaptable and being ready to pivot when necessary. Here’s how:

• All-in risk assessment: Take a deep dive into your risk environment and prioritize the threats that matter most. This means not just ticking boxes on a checklist but truly understanding the unique risks your business faces. But don’t stop there — risk assessments should be living documents, regularly updated to reflect the evolving landscape.
• Integrated strategy: Make sure your risk management is baked into every decision. This isn’t just about having a plan on paper; it’s about creating a culture where risk considerations are part of the decision-making process at every level. From product development to market expansion, risk management should be integrated into all strategic discussions.
• Resilience building: Strengthen your business continuity plans and promote adaptability. Resilience isn’t just about surviving a crisis — it’s about thriving in the aftermath. Developing robust business continuity plans ensures that you can maintain operations even in the face of significant challenges.
• Physical security focus: Don’t skimp on physical security. From advanced access control systems to employee training programs, ensuring that your organization is ready for anything is crucial. Investing in state-of-the-art surveillance technologies, such as smart cameras and real-time monitoring systems, can provide an extra layer of protection.
• Risk-aware culture: Get everyone on board with risk management. When it’s a shared responsibility, your team will be better equipped to handle whatever comes their way. Building a risk-aware culture starts at the top, with leadership setting the tone for the entire organization.

Related: The Five-Step Process to Identify Risk and Improve Decision-Making

Turn uncertainty into opportunity

Yes, today’s risk landscape is complex and unpredictable, but that doesn’t have to be a bad thing. With a proactive approach, you can turn these challenges into opportunities. Businesses that view risk management not as a burden but as a strategic advantage are the ones that will thrive in this ever-changing world. By staying adaptable, resilient and forward-thinking, your business can not only survive but seize the opportunities that uncertainty brings. Remember, a solid risk management strategy isn’t just about avoiding pitfalls — it’s about driving success. In a world where the only constant is change, those who are prepared to embrace uncertainty will find themselves ahead of the game.

Is AI worth paying four times as much for a Canva subscription?

Design software service Canva is increasing membership prices for users globally, with some U.S. users reporting on X that the cost of five-person team subscriptions has gone up from $120 per year to $500 per year. Canva reportedly told users in an email that it would discount the higher price by 40% for the next year, bringing it down to $300 — still a $180 increase.

The company is worth $26 billion, has 185 million global monthly users, and may be preparing to go public.

Canva is justifying the price hikes by touting its new AI features.

“Our suite of products has grown significantly in the last couple of years with the launch of new offerings like the Visual Suite and Magic Studio,” a Canva spokesperson said in a statement.

Visual Suite includes features like AI-powered writing, slideshows from a prompt, and AI turning documents into websites; Magic Studio uses AI to turn written concepts into social posts, videos, and slideshows.

Related: From Bailing on College to Billionaire: 5 Entrepreneurial Lessons From Canva Co-Founder Melanie Perkins

Even if the new features got an AI, subscribers took to social media to express frustration over the price increase. One user on X noted that small businesses could feel the impact of the pricing change the most.

Canva renewed a multi-year partnership last month to give its customers access to Getty images and videos and also acquired AI startup Leonardo.ai in July to bolster its AI offerings. Leonardo’s full 120-person team joined Canva’s 4,000-person workforce as part of the acquisition.

“With every single AI feature that we introduced into Canva, we really think it’s helping to cut down that time between A and B of getting the idea into an actual product,” Canva CEO Melanie Perkins said in July.

^{Canva CEO Melanie Perkins. Credit: David Paul Morris/Bloomberg via Getty Images}

Incorporating AI into a business isn’t cheap and comes with a significant environmental cost, too.

AI models currently cost over $100 million to develop, with the price tag only expected to rise over the next couple of years. AI researchers also estimate that it takes 30 times as much energy to have AI generate text instead of taking it directly from the source.

Related: New Google Report Reveals the Hidden Cost of AI

With more than 1 billion users in 200 countries worldwide, LinkedIn is currently the largest professional networking platform. So, whether for professional networking or job search purposes, it’s more important than ever to customize and optimize your LinkedIn profile. Similar to advertising, visitors to your profile page will likely spend just a few precious seconds to form an opinion, so it’s imperative that everything is clear, concise and on-message. Fortunately, LinkedIn has a robust feature set that enables a lot of customization. Unfortunately, many on the platform overlook key parts of their profile, in some cases not including them at all and often not optimizing what’s there.

As you craft your LinkedIn profile, the fundamental objective to keep in mind is that you want to clearly articulate four things in a concise and quick-to-digest manner: who you are, what you are doing professionally, what you have done and what you are looking for — especially for those who are job hunting. You should remove anything that does not contribute to any of these points.

Related: Learn How to Optimize Your LinkedIn Profile and Score Your Dream Job

Below are six key considerations and configurations in terms of optimizing your LinkedIn profile:

1. Your profile image

When you see a person’s profile on LinkedIn, at the very top is a background cover image. It’s shocking how often that critical piece of real estate is left blank. It’s easy to customize, so be sure to upload a cover. Anything is better than nothing, but I strongly encourage you to make the most of that space; don’t simply put a solid image or pattern there. Take advantage of that key spot by selecting an image that provides some sense of understanding and, ideally, even validation for you (check out mine, for example, showing an interview taking place) or, at the very least, conveys some kind of feeling about something important to you.

2. Get a verified checkmark

Below the cover photo, you want a verification check next to your name. This is a free service from LinkedIn and ensures potential employers and partners (as well as recruiters for those job hunting) that you are who you say you are. Fraudulent profiles are frequently created, so this verification gives your visitors additional confidence that your profile is legitimate. If you don’t currently have your profile verified, find a way to verify if possible (or the next time you can, do it; it’s important for the future, even if you cannot have it now). Understandably, you may have privacy concerns, and those same privacy concerns are, in reality, relevant to everything you do online via your desktop and mobile phone. Just keep in mind this is a vital verification for your career.

3. Craft your headline

Almost everyone on the platform has a headline entered. Many of them badly need improvement. This is a small amount of space to communicate some highly critical information. Avoid any extra words that don’t contribute to your definition. Avoid using lots of symbols. Avoid using broad, general language. Be concise, be specific and use this spot to clearly convey what you are, do, and/or want.

4. Showcase your work on your “personal billboard”

LinkedIn has a featured section you can add, yet many people don’t use it at all. Featured items can include posts, newsletters, articles, links, media or spotlighted content from your profile. You also can sort the list, which is essential as visitors will typically only see the first two to four of your featured items (depending on the viewing platform) without scrolling.

5. List your skills — and endorse your colleagues’ skills

LinkedIn allows you to list your top skills, and others can endorse you for those individual skills. Often, people have 50-plus skills associated with their profile and endorsements on some number of them. Are you aware that visitors to your profile page only see the top two in the list (unless they click to see more, which most don’t)? And, did you know that you have the ability to sort the list? Be sure to sort your skills so that the top two reflect the most important things a business partner or potential employer would want to see.

Related: Learn How to Optimize Your LinkedIn Profile and Score Your Dream Job

6. Showcase your experiences

Of vital importance is your experiences section, where you list out each of the companies you have worked for. The first mistake people make is using the description to describe the company. Think of this page as your CV; this space is where you should describe your role at the company. A line or two about the company is fine, of course, but consider also using bullets to highlight critical functions and accomplishments you’ve made while working there. This is especially important for your most recent experience or last couple if the most recent is a short duration. Often overlooked is that you can associate skills with each experience definition. You can also add media, such as press releases, white papers, interviews or other media related to your involvement with that company.

Incidentally, if you happen to subscribe to LinkedIn Sales Navigator, there is a tool available on the platform called the “Social Selling Index,” which measures your social selling efforts. This tool assesses your overall brand, relationships, people and insights. The brand portion of your index relates to your profile.

Some say LinkedIn is the CV replacement. I wouldn’t necessarily go that far, but it is unquestionably a vital professional tool for networking and worthwhile your time to configure and optimize. In some cases, it literally is used in place of a resume. In some cases, you’ll never make it to even being asked for your resume unless your LinkedIn page tells the right story up front. I encourage you to explore every section, try every configuration, arrange each arrangeable list to highlight what’s most important and be thoughtful with the images you use.

You have to be reachable while running your business. Staying connected is non-negotiable for everyone, whether you’re hopping from one meeting to the next or navigating through airports. But with all the hustle, the last thing you need is to be weighed down by bulky gadgets.

Meet the NanoPhone, a credit-card-sized smartphone that’s all about simplifying your travel experience while keeping your digital life fully functional. It is designed for those of us who want to take a step back from all the devices we carry but still stay connected to home, work, and all of our favorite apps—and it’s on sale for just $109.99 (reg. $199).

It’s equipped with dual SIM support, allowing you to manage personal and business calls on one device or easily switch between two numbers while traveling. With 4G and Wi-Fi connectivity, you can browse the web, stream content, and stay in touch with colleagues and clients via apps like WhatsApp, Instagram, and YouTube—all from the palm of your hand. However, the SIM card and data plan are not included.

Traveling with a smartphone doesn’t have to mean carrying around a cumbersome device. The NanoPhone offers a streamlined solution that focuses on what truly matters: staying connected and productive on the go.

Whether you’re attending a conference, a wedding, exploring a new city, or just need a reliable backup phone, the NanoPhone is your go-to tool for simplifying your tech while keeping all the essential features you rely on. It even has built-in cameras (front and back) to capture your important moments.

Downsizing your smartphone doesn’t mean downsizing your capabilities. The NanoPhone is the perfect example of how less can truly be more—offering all the essential functions you need in a portable, easy-to-carry design.

Get the NanoPhone miniaturized smartphone for just $109.99 (reg. $199) for a limited time.

StackSocial prices subject to change.

For entrepreneurs and design professionals who are looking to elevate their projects, Ashampoo 3D CAD Professional 11 offers a powerful yet user-friendly solution that combines precision, versatility, and an extensive object library—all for just $39.99 (reg. $330).

Whether you’re a seasoned architect or a DIY enthusiast, this software offers a seamless blend of simplicity and sophistication. Its intuitive interface guides you through every step of the design process, from sketching floor plans to visualizing your space in stunning 3D.

This Windows-only software is designed to make your workflow more efficient and your designs more precise. It has a host of powerful tools and features that simplify complex tasks. For instance, the program offers dedicated input modes for walls, windows, and doors, allowing you to quickly and accurately define key elements of your project. Additionally, numerical editing tools provide even greater precision, ensuring that every measurement and modification is spot on.

Ashampoo 3D CAD Professional 11 has auto-save functionality and reminders to save your work manually, so you never have to worry about losing progress. The context menu supports cut, copy, and paste functions, making it easier to manage different elements of your design. With powerful floor plan analysis and correction features, you can quickly identify and address any issues before they become problems.

It has extensive object catalogs that provide a wide range of 3D objects and more than 250 ready-to-use object groups. From pre-designed garages and kitchen lines to garden houses and saunas, these objects make adding detail and realism to your projects easy. You can also create your own catalog directories and use them directly in the software, customizing your designs to fit your unique vision.

With more than 20 million users, this software provides all the tools you need to help bring your vision to life.

Get a lifetime license to Ashampoo 3D CAD Professional 11 now and pay just $39.99 (reg. $330) for a limited time.

StackSocial prices subject to change.

Every entrepreneur’s journey is unique — there’s no one-size-fits-all path to success. There is, however, a proven sequence of steps that can turn your idea into a thriving business. I’ve seen this process unfold firsthand, launching my first business at age 14, and currently as an angel investor advising numerous startups. Let’s dive into these essential steps.

1. Pick a lane

Every entrepreneur dreams of success, but defining what that means for you is the key to making it a reality. This step is crucial as it empowers you to take control of your entrepreneurial journey. Reflect on what success looks like for you, considering your goals, risk tolerance, market dynamics, competition and more. Assess your passions, skills, limitations and resources — and then follow a course that makes sense. Will this be your supplementary or primary source of income? How big do you want to grow? Are you seeking profits, impact or something else? Answering these questions thoroughly and honestly will allow you to lay a strong foundation for success.

Related: 4 Steps to Moving Beyond the ‘Lightbulb Moment’ and Turning Your Idea into a Thriving Business

2. Identify an unmet need

The most successful startups solve problems that haven’t been addressed yet, often by being disruptive or pioneering a new category. If your idea doesn’t solve an apparent problem, it’s time to return to the drawing board. Identifying a need goes beyond casual observations or gut feelings; extensive market research like interviews, focus groups and audience development is essential to uncover your potential customers’ needs, desires and pain points. Combine this research with networking and deep conversations with industry experts and investors to further validate your ideas. Only after thoroughly understanding your audience should you start building a proof of concept or minimum viable product (MVP) that brings your idea to life.

A prime example is Julia Haart, serial entrepreneur, fashion icon, author and Netflix reality star who founded +Body, a body-positive, technologically advanced shapewear brand in 2023, with a second collection debuting this Fall. A disruptor at her core, Julia revamped the first collection after conducting extensive market research and gave customers what they wanted — a lower price point, four levels of compression and “ready to wear” shapewear staples like t-shirts, tank tops and bodysuits. She continually welcomes feedback to refine her products and stay connected with customers.

3. Develop your product

Impatient and unseasoned entrepreneurs often rush to this step, but success requires a solid foundation and clear understanding of the need before moving forward. When it’s time to build, follow these vital steps to bring your idea to life:

• Select a name: Don’t rely on hunches. Draw on market research and focus on options that are short, memorable and SEO-friendly. For inspiration, consider using tools like ChatGPT or other generative tools.

• Choose a structure: Picking the proper business structure is critical, as it impacts everything from taxes to liability to daily operations. The four most common structures are sole proprietorships, Limited Liability Companies (LLC), corporations and partnerships. The simplest and most common is a sole proprietorship, where one person owns the business but is personally liable for its debts. An LLC offers more flexibility with liability protection and pass-through taxation. A corporation is a more complex structure where the business is a separate entity from its owners. S-corporations provide pass-through taxation with a cap of 100 shareholders, whereas C-corporations allow unlimited shareholders but face double taxation. A traditional corporation offers limited liability protection and the ability to raise capital through stock and bonds, but like C-Corps, it is also subject to double taxation. Lastly, partnerships involve two or more individuals sharing ownership and responsibilities, with options for general or limited partnerships.

• Protect your brand: Make sure you’re buttoned up: Compliance with all relevant federal and state laws, regulations and industry standards is essential. Obtain licenses and permits, study local labor laws, and prioritize data privacy. Safeguard your intellectual property through trademarks, patents and copyrights, and strongly consider using nondisclosure agreements (NDAs) to maintain confidentiality.

• Build the plan: A detailed business plan is indispensable for establishing structure, attracting investors and setting the stage for success. Carefully outline your topline goals and strategies to specific operational structures and financial projections. HR considerations like staffing, compensation and benefits are also integral to a business plan. And remember: Marketing and communications should never be an afterthought. These elements are vital to business success. If you are new to writing business plans, resources like SCORE and HubSpot offer excellent templates.

• Network like crazy: Building strong relationships is as important as having a solid product and business plan. A broader network opens doors to more resources, opportunities and support. Make it a priority to connect with mentors, peers and investors daily, both online and in person. Joining professional groups like Entrepreneurs’ Organization or Young Entrepreneur Council are great places to start.

Related: How to Design and Produce Products from Scratch — A Step-by-Step Guide for Entrepreneurs

4. Blast off

The moment has arrived to introduce your idea to the world. Now is the time to roll out your sales and PR strategies and acquire customers. Implement competitive yet profitable pricing, and establish key performance indicators (KPIs) to track progress. Ensure you’re also cultivating a positive company culture by prioritizing values like collaboration, innovation and a customer-centric mindset. And don’t forget to celebrate! Host a grand opening event, and invite business leaders and local dignitaries to mark the occasion in style.

5. Focus on profitability

A steady cash flow is the lifeblood of any successful business, but it doesn’t come automatically. Start with ample cash reserves, and pursue profits to avoid relying on short-term loans. When I launched my marketing agency, my first hire was a bookkeeper to ensure financial health. I highly recommend bringing in an accountant or bookkeeper from day one to help manage your finances and keep your business in the black.

Every entrepreneur’s journey is unique, and there’s no way to anticipate each challenge or opportunity. The above steps are relevant across the board — so take note, invest all the necessary time and energy, and prepare to turn that idea into an empire.

Related: Why Being Profitable is a Business Strategy in Itself