PAIN to PROFIT$: Free Stuff for Black History Month, $400 Trump Sneakers, and Shopify Unplugged.

BIGGER THAN BUSINESS
Can I Get Free Stuff For Black History Month?

In a world full of woke, we wanted to know how quickly some would bend the knee for the sake of wokeism.

$TREET $MART
Climbing Your Corporate Ladder

Transitioning from a solopreneur to a business owner and building a self-managing company indeed represents a significant leap, one that focuses more on the entrepreneur's personal growth and transformation than on the business itself. This process involves several key shifts:

1. Mindset Shift: Moving from doing everything yourself to leading a team requires a fundamental change in mindset. As a solopreneur, you are accustomed to being deeply involved in every aspect of your business. Transitioning to a business owner means adopting a strategic mindset, focusing on the big picture, and learning to trust others to handle day-to-day operations.

2. Delegation and Empowerment: Building a self-managing company requires the ability to delegate effectively. This means not only assigning tasks but also empowering team members to make decisions and take ownership of their roles. It requires trust and a willingness to let go of control.

3. Developing Leadership Skills: As you transition, your role evolves from being the primary doer to being a leader. This involves developing skills like team building, motivating, and inspiring others, as well as the ability to communicate your vision and align your team with it.

4. Systems Thinking: A self-managing company needs robust systems and processes. Developing these systems and ensuring they are scalable and efficient is a key part of the transition. It involves thinking about the business as a whole and understanding how different parts interact and depend on each other.

5. Cultural Development: The culture of a company is a reflection of its leadership. As an entrepreneur, you need to consciously cultivate a company culture that supports autonomy, accountability, and alignment with your business’s core values and objectives.

6. Learning and Adaptability: The transition requires continuous learning and adaptability. Markets change, challenges arise, and as a business owner, you need to be able to adapt your strategies and approaches accordingly.

7. Emotional Resilience: Building a business can be an emotional rollercoaster. Developing emotional resilience is crucial to handle the stresses and pressures that come with running a growing business.

8. Building a Network: As a solopreneur, you might have worked mostly alone. As you scale, building a network of mentors, advisors, and peers becomes essential. This network can provide support, advice, and opportunities for growth.

9. Focus on Personal Growth: Continuous personal development is vital. This can include formal education, mentorship, self-reflection, and staying abreast of industry trends and best practices.

10. Strategic Vision and Execution: Finally, transitioning to a business owner involves developing a strategic vision for your company and an ability to execute that vision. This means setting long-term goals and aligning all efforts towards achieving them.

In essence, building a self-managing company is as much about your evolution as an entrepreneur as it is about the growth of the business. It's about developing the skills, mindset, and resilience needed to lead and sustain a growing enterprise.

PUL$E
Federal Reserve's Projections vs. Actual Data

In December, the Federal Open Market Committee's (FOMC) Summary of Economic Projections indicated the Federal Reserve's expectations for 2024: a slowdown in GDP growth to 1.4%, a slight increase in unemployment to 4.1%, and a reduction in core PCE inflation to 2.4%. Consequently, the Fed signaled three interest rate cuts in 2024, reducing rates from 5.3% to 4.6%, followed by an additional four cuts in 2025 to 3.6%. This approach is part of a normalization policy aimed at achieving a soft landing for the economy, avoiding a recession.

However, recent data contrasts with these projections:

1. Stronger Labor Market: Contrary to expectations, the unemployment rate fell to 3.7% in January with 353,000 new jobs created. Additionally, weekly initial jobless claims are consistently low, around 200,000, indicating a tight labor market.

2. Persistent Inflation: Disinflation appears to be stalling. The core CPI remains above 3%, and the Sticky Price CPI without Shelter, an important inflation measure, has risen from 3.02% in November to 3.25%. Notably, even excluding shelter inflation, prices for other goods and services continue to rise.

3. Resilient Economy: Despite an unexpected drop in January retail sales, GDP growth for the first quarter of 2024 is still predicted at 2.9% by GDPNow.

Given these discrepancies, the FOMC may need to adjust its projections in the March meeting, potentially signaling fewer than three rate cuts in 2024.

Market Expectations vs. Reality

The Federal Reserve faces two critical challenges:

1. 2025 Maturity Wall: A significant amount of corporate debt is due for refinancing in 2025. High-interest rates could lead to defaults, particularly impacting commercial real estate firms, regional banks, small companies, and financially weaker businesses. This scenario could trigger a credit crunch affecting the broader economy and financial markets.

2. Lagged Monetary Policy Effects: The delayed impact of previous monetary tightening, coupled with depleted pandemic-related savings and resumed student loan payments, could potentially lead to a recession during an election year, which is politically undesirable.

Initially, markets interpreted the Fed's dovish stance as an attempt to prevent a recession in 2024 and mitigate the 2025 maturity wall, leading to expectations of more aggressive easing in 2024. However, the reality of persisting inflation challenges the assumption that the Fed can aggressively cut rates.

BRAND DAMAGE
Hard Times on The Hardwood

Despite having revenue levels of over $10.5B and a global audience reaching 213 countries, the National Basketball Association is fast-tracking its own destruction.

82% of the league’s viewing audience are men between the ages of 18-40.

Ignoring this they’ve continued to prioritize a brand strategy that focuses on player preference over product, political shenanigans, and eradicating competition and physicality.

All the while forgetting who writes the checks and who wants to dream through the players…the fans.

Don’t take a page out of their book.

And if you insist, go with 1990’s-2007 era NBA.

Xcelerated Performance
The Shopify Story Told by Alex Hormozi

The Shopify story told by President and early-stage Founder Harley Finkelstein is one for the logs. If you are needing some inspiration, this is a must listen.

In Case You Missed It
News For Your Consideration

• You’ve started your business and have customers…now what?

• Air…Trump? Former President rolls out exclusive $400 sneaker drop.

• NYC piloting plan to give illegal migrants up to $10k each, has no ID check, minimal restrictions, or fraud control.