In this engaging discussion, Mike Lazerow, a serial entrepreneur and co-founder of Golf.com and Buddy Media, shares insights from his journey and new book. He highlights how AI and no-code platforms are democratizing entrepreneurship, allowing diverse voices to thrive. Mike emphasizes the crucial balance between passion and persistence in the entrepreneurial journey. The conversation also touches on the rise of purpose-driven businesses among younger generations and the evolving dynamics of leadership in a hybrid work environment.
The rise of no-code platforms is enabling aspiring entrepreneurs to launch businesses without extensive technical knowledge, fostering innovation and accessibility.
Social media platforms are emerging as new franchisors, providing entrepreneurs with established systems that simplify customer outreach and reduce starting costs.
Deep dives
Skyrocketing New Businesses
The number of new businesses is expected to continue its upward trajectory, with statistics showing around 5.4 million businesses started in 2023 alone. This trend is anticipated to grow to an estimated 6 million new businesses, fueled by the availability of lower overhead costs and advanced productivity tools such as AI. Entrepreneurs now have the opportunity to start ventures with less initial financial burden and more access to resources. Workers increasingly desire independence and control over their work, leading to a culture of entrepreneurship that extends beyond traditional definitions.
Platforms as Modern Franchisors
Platforms like Facebook, Instagram, and Shopify are being viewed as the new franchisors in the entrepreneurial landscape. They offer established systems and operational playbooks that empower entrepreneurs to reach customers effectively and efficiently. The ease of tapping into these platforms eliminates traditional barriers associated with franchise ownership, making it simpler to start a business without hefty investments in real estate. This shift in dynamics allows both individual entrepreneurs and larger companies to capitalize on consumer trends through a plug-and-play model.
Rise of No-Code Entrepreneurship
The rise of no-code platforms has significantly lowered the barriers to entry for aspiring entrepreneurs, allowing even small teams to create robust applications without extensive technical knowledge. Twenty years ago, entrepreneurial ventures often required a team of engineers, but today, individuals can launch billion-dollar businesses with a handful of versatile tools. Technologies like Bubble and Webflow permit entrepreneurs to focus on their ideas rather than fret about the technical details, fostering a culture of innovation and accessibility. This democratization of technology empowers a new wave of creatives and problem solvers to bring their visions to life.
Mainstream Digital Ownership
Digital ownership is becoming increasingly mainstream as individuals, particularly younger generations, value digital assets more than physical ones. With technologies like NFTs, ownership of items in the digital space is evolving beyond mere collectibles to include art, gaming items, and membership clubs. The shift towards digital asset ownership signifies a broader change in how value is perceived, with many valuing ownership through secure, transparent digital platforms. As markets for digital assets grow, the distinction between physical and digital ownership will continue to blur, creating a rich landscape of opportunities for creators and consumers alike.
Kass and Mike Lazerow are serial entrepreneurs, investors, and authors of Shoveling $!it: A Love Story About the Entrepreneur’s Messy Path to Success. As the co-founders of Golf.com and Buddy Media—acquired by Salesforce for $745 million—they bring a wealth of experience from decades of building businesses and supporting nearly 100 early-stage startup founders as angel investors and advisors. They explore how AI and no-code platforms are breaking down barriers to entry, fueling a record surge in new businesses and reshaping the rise of entrepreneurs as the new franchisees. The heart of their message is that the balance between passion and persistence is the key to business success.