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No business is without its challenges. Even the most successful of companies today started out as simple ideas that had to be worked on and evolved over time. And with about 20 percent of businesses failing to make it past their first year, it’s not uncommon for the obstacles in the way of entrepreneurial success to become too difficult for aspiring business owners to overcome.
In the culture space, where so much of a company’s success depends upon the trends and desires of the day, carving out a secure space in the market can be an even greater challenge. For those entrepreneurs willing to take the leap, the business leaders of Rolling Stone Culture Council discuss 10 key hurdles aspiring business owners will need to overcome if they want to succeed in the culture space today — and why doing so will make them stronger over time.
Blocking Negativity From Others
As an entrepreneur, you’ll inevitably encounter haters and jealousy as you rise, but it’s essential to stay undeterred. Focus on your mission, understanding that negativity reflects others’ struggles, not your worth. Use challenges as motivation to drive your success even further and let the results speak for themselves. Success often invites criticism, but how you handle it defines your journey. – Matt Ampolsky, Confirmed360
Standing Out in the Crowd
A huge challenge for business leaders in the culture space is cutting through the noise and standing out. This typically requires initial focus on a niche vertical to build the business and then strategically looking for the opportunity to go broader with your appeal to reach a larger addressable market. My advice is to start narrow and focused. Grow and scale. Broaden your appeal to a wider audience. – Dan Giuliani, Volt Athletics
Keeping Up With Rapidly Changing Trends
Given the rapid pace of cultural change driven by constant media consumption, it can be difficult to stay on top of trends and topics. Diligent research and timely engagement are the best ways you can ensure your business stays relevant in the culture space. It’s not possible to anticipate every trend; however, proactive participation will help you stay ahead of the curve. – Jason Peterson, GoDigital Media Group
Learning How to Motivate and Inspire a Team
Leaders must remember that they are nowhere without their people. Create a motivating and inspiring space. Consistently modify strategies that encourage teamwork, diversity and work-life balance. Look to your team to establish the culture, ask what makes them happy and identify how their goals align with the mission. – Magen Baker, Bell + Ivy
The Rolling Stone Culture Council is an invitation-only community for Influencers, Innovators and Creatives. Do I qualify?
Communicating Impact
You need to be crystal clear on impact — across all dimensions of it. Customers, clients and team members of every stripe care about the impact they have every day in every way. From the products they purchase, the places they work, the causes they serve and support, to the legacy they leave, impact matters. Business leaders who want to succeed need to be clear on impact writ large. – Scott Curran, Beyond Advisers
Thinking Culture Alone Can Drive Success
Aspiring business leaders need to overcome the hurdle of thinking culture alone can drive success. All the culture in the world doesn’t matter if your product isn’t great or the company isn’t growing. In today’s space, leaders need to focus on creating a strong, innovative product while also maintaining culture as a complement, not the core driver. – Jessica Billingsley, Sona Capital
Maintaining Authenticity During Growth
One challenge is staying authentic while trying to scale. Authenticity is key to building trust and long-term relationships, but as one’s business grows there is pressure to commercialize or compromise vision to meet broader market demands. – Matthew Forster, CMS Nashville
Ensuring Inclusivity in Diverse Teams
Aspiring leaders must overcome the challenge of fostering inclusivity in diverse teams. Today’s culture demands environments where varied voices feel valued and heard. This is crucial because inclusivity drives innovation, attracts top talent and ensures sustainability in a global market that increasingly values empathy, equity and cultural competence. – Stephen Nalley, Black Briar Advisors
Finding Your Community
Learn to partner effectively. Figure out what your community is and be a part of it. This includes celebrating other people’s wins and supporting their initiatives. It is far too easy for creative, culture-oriented work to become siloed, which will limit the growth of your business. Word spreads most effectively through a community, but you must be a part of a community to enjoy this benefit. – Jed Brewer, Good Loud Media
Retaining Humanity Among Technological Change
Aspiring business leaders in the culture space must overcome the challenge of staying authentic while embracing rapid technological change. As digital platforms and AI shape how people consume culture, it’s easy to lose the human touch. Leaders who succeed will strike a balance between leveraging technology and maintaining authenticity to connect meaningfully with audiences. – Francis Hellyer, tickadoo
