Entrepreneurs
Terex Experiences First Quarter 2023 Outcomes
Published
2 years agoon
- Gross sales of $1.2 billion increased 23% year-over-year, 27% on FX just foundation
- Complete backlog remained stable at $4.1 billion
- Profits from operations of $148 million, up 98% year-over-year
- Working income margin of 12.0% improved 460bps year-over-year
- EPS of $1.60 extra than doubled year-over-year
- Elevating fleshy-year 2023 EPS outlook to a vary of $5.60 to $6.00
, /PRNewswire/ — Terex Company (NYSE: TEX) at the unique time announced its outcomes for the first quarter 2023.
CEO Commentary
“We entered 2023 with important momentum as we continued to successfully enact against our boost strategy amidst elevated macroeconomic volatility and lingering provide chain constraints,” mentioned Terex Chairman and Chief Executive Officer John L. Garrison, Jr. “I would bask in to thank our team individuals for their dedication to our Zero Anguish security tradition and their efforts in serving our customers and dealers. We delivered stable first quarter outcomes, with gross sales rising 23%, operating margin growth of 460bps, and EPS extra than doubling over the prior year. We are raising our fleshy-year EPS outlook because this spectacular efficiency, stable query for our merchandise and a healthy backlog of $4.1 billion.”
“We also continued to make investments in unusual technologies and merchandise across our industry, and are gratified with our most long-established enhancements that toughen sustainability and wait on decrease GHG emissions with electrical and hybrid options for our customers. Everywhere in the quarter we showcased our expanded portfolio of merchandise and solutions at various alternate exhibits, highlighting how we wait on our customers unbiased their tools safely and profitably, whereas also supporting their sustainability dreams and reducing their total label of possession.”
First Quarter Operational and Financial Highlights
- Gain gross sales of $1.2 billion increased 23.3%, up from $1.0 billion in the first quarter of 2022. The boost used to be basically driven by larger volumes and query for our merchandise and improved label realization important to mitigate rising charges across all segments, which used to be partially offset by a $42 million unfavorable affect from adjustments in a ways off places trade rates.
- Profits from operations of $147.7 million, or 12.0% of catch gross sales improved from $74.5 million, or 7.4% of catch gross sales the prior year. The year-over-year boost of $73.2 million used to be driven by incremental margin accomplished on larger gross sales quantity, label realization and favorable product mix, which used to be partially offset by label increases and the unfavorable affect of a ways off places trade.
- Profits from continuing operations used to be $109.9 million, or $1.60 per share, in comparison with $52.3 million, or $0.74 per share, in the first quarter of 2022. EPS used to be up 116.2% year-over-year.
Business Phase Overview
Materials Processing
- Gain gross sales of $553.8 million had been up 22.3% or $101.1 million year-over-year, basically as a consequence of stable query for our merchandise across extra than one businesses and rate realization important to mitigate rising charges. Other than the affect of a ways off places trade rates of roughly $27 million, catch gross sales increased 28.4% year-over-year.
- Profits from operations increased to $85.3 million or 15.4% of catch gross sales, in comparison with $64.5 million, or 14.2% of catch gross sales, in the prior year. The boost used to be driven by incremental margin accomplished on larger gross sales volumes and favorable product mix, which used to be partially offset by label increases and the unfavorable affect of a ways off places trade.
Aerial Work Platforms
- Gain gross sales of $685.9 million had been up 24.4% or $134.4 million year-over-year. The boost used to be basically as a consequence of larger query driven by snappily change, terminate-market boost and rate realization important to mitigate rising charges. Other than the affect of a ways off places trade rates of roughly $15 million, catch gross sales increased 27.1% year-over-year.
- Profits from operations increased to $83.1 million or 12.1% of catch gross sales, in comparison with $32.5 million, or 5.9% of catch gross sales in the prior year. The boost used to be driven by incremental margin on larger gross sales quantity, label reductions, favorable manufacturing efficiencies and mix, label realization to mitigate inflation and used to be partially offset by unfavorable outcomes of a ways off places trade fee adjustments.
Steady Steadiness Sheet and Liquidity
- As of March 31, 2023, the Company had liquidity (money and availability under our revolving line of credit rating) of $677.2 million and catch leverage of 1.0x.
- Terex deployed approximately $30 million for capital expenditures and investments throughout the first quarter of 2023.
- Everywhere in the three months ended March 31, 2023, Terex paid $10.2 million in dividends, a 15% boost and performed $3.2 million in share repurchases. As properly as, the firm repurchased $14.3 million shares in April.
CFO Commentary
Julie Beck, Senior Vice President and Chief Financial Officer, mentioned “The Company has a stable balance sheet with low leverage and colossal liquidity to toughen its boost initiatives. We are gratified with our bettering gross sales and margin growth trajectory, driven by stable query and supported by our pricing actions and disciplined expense management. In consequence, we are raising our fleshy year gross sales, margin, EPS and free money hunch along with the hunch outlook ranges.”
2023
Outlook
(in hundreds and hundreds, except per share files)
|
|
|
Gain Gross sales |
$4,600 – $4,800 |
$4,800 – $5,000 |
SG&A % to Gross sales |
~10.5% |
~10.7% |
Working Margin |
10.0% – 10.4% |
11.4% – 11.8% |
Hobby / Other Expense |
~$60 |
~$60 |
Tax Rate |
~21.0% |
~21.0% |
EPS |
$4.60 – $5.00 |
$5.60 – $6.00 |
Portion Depend |
~69 |
~69 |
Depreciation / Amortization |
~$50 |
~$50 |
Free Money Waft (2) |
$225 – $275 |
~$300 – $350 |
Corp & Other OP |
~($75) |
~($80) |
|
|
|
||
|
|
|
|
|
Materials Processing |
$2,000 – $2,100 |
~15.5% |
$2,100 – $2,200 |
~15.8% |
Aerial Work Platforms |
$2,600 – $2,700 |
~9.0% |
$2,700 – $2,800 |
~11.5% |
(1) Excludes the affect of future acquisitions, divestitures, restructuring and other uncommon items |
(2) Capital expenditures: ~$135 million |
Non-GAAP Measures and Other Objects
Outcomes of operations mirror continuing operations. All per share quantities are on an awfully diluted foundation. A total overview of the quarterly financial efficiency is contained in the presentation that can accompany the Company’s earnings conference call.
On this press unlock, Terex refers to various GAAP (U.S. customarily celebrated accounting tips) and non-GAAP financial measures. These non-GAAP measures could per chance per chance now now not be linked to in an analogous vogue titled measures being disclosed by other firms. Terex believes that this non-GAAP files is priceless to understanding its operating outcomes and the continuing efficiency of its underlying businesses.
The Thesaurus at the top of this press unlock contains extra small print about this field.
Convention call
The Company has scheduled a conference call to learn the financial outcomes on Tuesday, May per chance per chance per chance additionally merely 2, 2023 foundation at 8:30 a.m. ET. John L. Garrison, Jr., Chairman and CEO, and Julie Beck, Senior Vice President and Chief Financial Officer, will host the call. A simultaneous webcast of this call is also accessed at https://shoppers.terex.com. Contributors are impressed to internet admission to the call 10 minutes ahead of the starting up time. The call will also be archived in the Tournament Archive at https://shoppers.terex.com.
Forward-Looking Statements
Determined files in this press unlock entails forward-attempting statements (throughout the that manner of Portion 27A of the Securities Act of 1933, Portion 21E of the Securities Alternate Act of 1934 (the “Alternate Act”) and the Private Securities Litigation Reform Act of 1995) relating to future events or our future financial efficiency that involve obvious contingencies and uncertainties, including those discussed in our Annual Characterize on Make 10-K for the year ended December 31, 2022, and subsequent reports we file with the U.S. Securities and Alternate Price every so frequently, in the sections entitled “Management’s Discussion and Evaluation of Financial Situation and Outcomes of Operations – Contingencies and Uncertainties.” As properly as, when integrated in this press unlock the phrases “could per chance,” “expects,” “will accept as true with to,” “intends,” “anticipates,” “believes,” “plans,” “projects,” “estimates,” “will” and the negatives thereof and analogous or linked expressions are supposed to identify forward-attempting statements. Nonetheless, the absence of these phrases would now not imply that the commentary is now now not forward-attempting. We accept as true with based mostly completely mostly these forward-attempting statements on most long-established expectations and projections about future events. These statements are now now not ensures of future efficiency. Such statements are inherently field to a diversity of risks and uncertainties that could per chance trigger precise outcomes to differ materially from those reflected in such forward-attempting statements. Such risks and uncertainties, a lot of that are beyond our control, consist of, among others:
- adjustments in the provision and rate of obvious offers and parts, which can terminate in extra provide chain disruptions;
- consolidation within our customer immoral and suppliers;
- our operations are field to a great deal of doable risks that arise from operating a multinational industry, including compliance with altering regulatory environments and political and economic instability;
- a cloth disruption to one in all our important facilities;
- our industry is sensitive to authorities spending;
- our industry is extremely aggressive and field to pricing strain;
- our capability to successfully implement our strategy and the actual outcomes derived from such strategy;
- our capability to mix received businesses;
- our consolidated financial outcomes are reported in U.S. dollars whereas obvious assets and other reported items are denominated in the currencies of alternative countries, rising currency trade and translation danger;
- our industry is tormented by the cyclical nature of markets we help;
- our prefer to follow restrictive covenants contained in our debt agreements;
- our capability to generate ample money hunch along with the hunch to provider our debt responsibilities and efficiency our industry;
- our capability to internet admission to the capital markets to steal funds and present liquidity;
- the financial situation of customers and their continued internet admission to to capital;
- publicity from providing credit rating toughen for just a few of our customers;
- we could per chance journey losses in scheme over recorded reserves;
- our capability to device, originate, have interaction and withhold team individuals;
- possible work stoppages and other labor issues;
- increased cybersecurity threats and extra refined computer crime;
- adjustments in import/export regulatory regimes, imposition of tariffs, escalation of worldwide alternate conflicts and unfairly traded imports, notably from China, could per chance proceed to negatively affect our industry;
- compliance with environmental guidelines would be costly and failure to fulfill environmental, social and governance (“ESG”) expectations or standards or carry out our ESG dreams could per chance adversely affect our industry;
- litigation, product licensed responsibility claims and other liabilities;
- our compliance with america (“U.S.”) Foreign Sad Practices Act and linked worldwide anti-corruption licensed pointers;
- increased regulatory focal point on privateness and files security disorders and rising licensed pointers;
- our capability to follow an injunction and linked responsibilities imposed by the U.S. Securities and Alternate Price (“SEC”); and
- other components.
Precise events or our precise future outcomes could per chance differ materially from any forward-attempting commentary as a consequence of these and other risks, uncertainties and cloth components. The forward-attempting statements contained herein talk only as of the date of this press unlock. We expressly disclaim any obligation or endeavor to unlock publicly any updates or revisions to any forward-attempting commentary contained in this press unlock to reflect any trade in our expectations with regard thereto or any trade in events, conditions or circumstances on which such a commentary depends mostly.
About Terex
Terex Company is a world producer of offers processing machinery and aerial work platforms. We invent, manufacture and toughen merchandise extinct in constructing, repairs, manufacturing, energy, recycling, minerals and offers management purposes. Determined Terex merchandise and solutions allow customers to decrease their affect on the environment including electrical and hybrid offerings that raise mute and emission-free efficiency, merchandise that toughen renewable energy, and merchandise that relief in the restoration of priceless offers from various kinds of waste. Our merchandise are manufactured in North The US, Europe, Australia and Asia and sold worldwide. We have interaction with customers thru all phases of the product existence cycle, from initial specification to parts and repair toughen.
Contact Data
Paretosh Misra
Head of Investor Relations
Cell phone: 203-604-3977
E mail: paretosh.misra@terex.com
(unaudited) (in hundreds and hundreds, except per share files) |
|||||
|
|||||
|
|
||||
Gain gross sales |
$ |
1,235.7 |
$ |
1,002.5 |
|
Ticket of issues sold |
(957.0) |
(816.7) |
|||
Injurious income |
278.7 |
185.8 |
|||
Promoting, general and administrative funds |
(131.0) |
(111.3) |
|||
Profits (loss) from operations |
147.7 |
74.5 |
|||
Other earnings (expense) |
|||||
Hobby earnings |
2.0 |
0.6 |
|||
Hobby expense |
(14.9) |
(10.6) |
|||
Other earnings (expense) – catch |
(1.6) |
(0.3) |
|||
Profits (loss) from continuing operations before earnings taxes |
133.2 |
64.2 |
|||
(Provision for) profit from earnings taxes |
(23.3) |
(11.9) |
|||
Profits (loss) from continuing operations |
109.9 |
52.3 |
|||
Possess (loss) on disposition of discontinued operations- catch of tax |
2.7 |
(0.4) |
|||
Gain earnings (loss) |
$ |
112.6 |
$ |
51.9 |
|
Fundamental earnings (loss) per Portion: |
|||||
Profits (loss) from continuing operations |
$ |
1.62 |
$ |
0.75 |
|
Possess (loss) on disposition of discontinued operations – catch of tax |
0.04 |
(0.01) |
|||
Gain earnings (loss) |
$ |
1.66 |
$ |
0.74 |
|
Diluted earnings (loss) per Portion: |
|||||
Profits (loss) from continuing operations |
$ |
1.60 |
$ |
0.74 |
|
Possess (loss) on disposition of discontinued operations – catch of tax |
0.04 |
(0.01) |
|||
Gain earnings (loss) |
$ |
1.64 |
$ |
0.73 |
|
Weighted common quantity of shares famed in per share calculation |
|||||
Fundamental |
67.7 |
69.8 |
|||
Diluted |
68.8 |
70.9 |
(unaudited) (in hundreds and hundreds, except par label) |
|||||
|
|
||||
Property |
|||||
Recent assets |
|||||
Money and money equivalents |
$ |
254.2 |
$ |
304.1 |
|
Other most long-established assets |
1,836.2 |
1,657.9 |
|||
Complete most long-established assets |
2,090.4 |
1,962.0 |
|||
Non-most long-established assets |
|||||
Property, plant and tools – catch |
478.9 |
465.6 |
|||
Other non-most long-established assets |
711.9 |
690.5 |
|||
Complete non-most long-established assets |
1,190.8 |
1,156.1 |
|||
Complete assets |
$ |
3,281.2 |
$ |
3,118.1 |
|
Liabilities and Stockholders’ Equity |
|||||
Recent liabilities |
|||||
Recent portion of long-term debt |
$ |
2.1 |
$ |
1.9 |
|
Other most long-established liabilities |
1,048.4 |
996.7 |
|||
Complete most long-established liabilities |
1,050.5 |
998.6 |
|||
Non-most long-established liabilities |
|||||
Long-term debt, much less most long-established portion |
774.9 |
773.6 |
|||
Other non-most long-established liabilities |
161.2 |
164.7 |
|||
Complete non-most long-established liabilities |
936.1 |
938.3 |
|||
Complete liabilities |
1,986.6 |
1,936.9 |
|||
Complete stockholders’ equity |
1,294.6 |
1,181.2 |
|||
Complete liabilities and stockholders’ equity |
$ |
3,281.2 |
$ |
3,118.1 |
|
(unaudited) (in hundreds and hundreds) |
||||||
|
||||||
|
|
|||||
Working Activities |
||||||
Gain earnings (loss) |
$ |
112.6 |
$ |
51.9 |
||
Depreciation and amortization |
12.1 |
11.7 |
||||
Changes in operating assets and liabilities and non-money charges |
(115.6) |
(115.3) |
||||
Gain money equipped by (extinct in) operating activities |
9.1 |
(51.7) |
||||
Investing Activities |
||||||
Capital expenditures |
(20.3) |
(20.1) |
||||
Other investing activities, catch |
(9.4) |
(3.1) |
||||
Gain money equipped by (extinct in) investing activities |
(29.7) |
(23.2) |
||||
Financing Activities |
||||||
Gain money equipped by (extinct in) financing activities |
(31.7) |
28.0 |
||||
Stay of trade fee adjustments on money and money equivalents |
2.4 |
(1.6) |
||||
Gain boost (decrease) in money and money equivalents |
(49.9) |
(forty eight.5) |
||||
Money and money equivalents at foundation of period |
304.1 |
266.9 |
||||
Money and money equivalents at terminate of period |
$ |
254.2 |
$ |
218.4 |
||
(unaudited) (in hundreds and hundreds) |
||||||
|
||||||
|
|
|||||
|
|
|||||
|
|
|||||
|
||||||
Gain gross sales |
$ |
1,235.7 |
$ |
1,002.5 |
||
Profits from operations |
$ |
147.7 |
12.0 % |
$ |
74.5 |
7.4 % |
|
||||||
Gain gross sales |
$ |
553.8 |
$ |
452.7 |
||
Profits from operations |
$ |
85.3 |
15.4 % |
$ |
64.5 |
14.2 % |
|
||||||
Gain gross sales |
$ |
685.9 |
$ |
551.5 |
||
Profits from operations |
$ |
83.1 |
12.1 % |
$ |
32.5 |
5.9 % |
|
||||||
Gain gross sales |
$ |
(4.0) |
$ |
(1.7) |
||
Loss from operations |
$ |
(20.7) |
* |
$ |
(22.5) |
* |
* Not a important proportion |
GLOSSARY
Non-GAAP Measures Definitions
So as to manufacture shoppers with extra files relating to the Company’s outcomes, Terex refers to various GAAP (U.S. customarily celebrated accounting tips) and non-GAAP financial measures which management believes offers priceless files to shoppers. These non-GAAP measures could per chance per chance now now not be linked to in an analogous vogue titled measures being disclosed by other firms. As properly as, the Company believes that non-GAAP financial measures will accept as true with to be thought to be besides to, and now now not in lieu of, GAAP financial measures. Terex believes that this non-GAAP files is priceless to understanding its operating outcomes and the continuing efficiency of its underlying businesses. Management of Terex makes employ of every GAAP and non-GAAP financial measures to place inner budgets and targets and to evaluate the Company’s financial efficiency against such budgets and targets.
The quantities described under are unaudited, are reported in hundreds and hundreds of U.S. dollars (except share files and percentages), and are as of or for the period ended March 31, 2023, unless otherwise indicated.
2023 Outlook
The Company’s 2023 outlook for earnings per share is a non-GAAP financial measure since it excludes the affect of doable future acquisitions, divestitures, restructuring, and other uncommon items. The Company is now now not in a living to reconcile this forward-attempting non-GAAP financial measure to its most straight away linked forward-attempting GAAP financial measures with out unreasonable efforts for the explanation that Company is unable to foretell with an cheap diploma of easy job the actual timing and affect of such items. The unavailable files also can accept as true with a important affect on the Company’s fleshy-year 2023 GAAP financial outcomes. This forward attempting files offers steerage to shoppers relating to the Company’s EPS expectations as adversarial to uncommon items that the Company would now not factor in is reflective of its ongoing operations.
Free Money Waft
The Company calculates a non-GAAP measure of free money hunch along with the hunch. The Company defines free money hunch along with the hunch as Gain money equipped by (extinct in) operating activities much less Capital expenditures, catch of proceeds from sale of capital assets. The Company believes that this measure of free money hunch along with the hunch offers management and shoppers extra priceless files on money generation or employ in our significant operations. The following table reconciles Gain money equipped by (extinct in) operating activities to free money hunch along with the hunch (in hundreds and hundreds):
Three Months Ended March 31, 2023 |
||
Gain money equipped by (extinct in) operating activities |
$ 9.1 |
|
Capital expenditures, catch of proceeds from sale of capital assets |
(19.7) |
|
Free money hunch along with the hunch (employ) |
$ (10.6) |
Working Capital
Working Capital is calculated using the Condensed Consolidated Steadiness Sheet quantities for Replace receivables (catch of allowance) plus Inventories, much less Replace accounts payable and Customer advances. The Company views excessive working capital as an inefficient employ of assets, and seeks to decrease the stage of investment with out adversely impacting the continuing operations of the industry. For the sessions under, working capital used to be:
|
|
Inventories |
$1,083.2 |
Replace Receivables |
630.1 |
Less: Replace Accounts Payables |
(686.7) |
Less: Customer Advances |
(36.0) |
Complete Working Capital |
$990.6 |
Trailing Three Months Annualized Gain Gross sales is calculated using the internet gross sales for the quarter multiplied by four.
3 months Gross sales |
$1,235.7 |
|
Amount of quarters |
x |
4.0 |
Annualized Quarterly Gross sales |
$4,942.8 |
|
WC % of Annualized Quarterly Gross sales |
20.0 % |
The ratio is calculated by dividing working capital by trailing three months annualized catch gross sales. The Company believes this measures its handy resource employ effectivity.
Gape usual instruct material to catch multimedia:https://www.prnewswire.com/news-releases/terex-reports-first-quarter-2023-outcomes-301812192.html
SOURCE Terex Company
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- Assess the Support Structure – Choose a community that offers ongoing support, accountability, and practical resources to help you achieve real growth.
Unlocking Growth, Freedom, and Lifestyle Balance Through Entrepreneurship
In summary, joining a supportive, growth-oriented community can help entrepreneurs achieve their vision of success, freedom, and a balanced lifestyle. By tapping into the power of collective wisdom, practical support, and accountability, you can elevate your business and your personal life in ways that might not be possible on your own.
The journey to entrepreneurial success is never easy, but with the right community by your side, you can enjoy the growth, freedom, and lifestyle balance that every entrepreneur dreams of.
Business
The Rise of Wellness: A Trillion-Dollar Industry Transforms Health and Work Cultures
Published
2 weeks agoon
November 6, 2024In today’s world, the global wellness industry has reached an astonishing milestone, with a market valuation of $6.32 trillion in 2023. This expanding industry now outpaces pharmaceuticals and sports, highlighting a significant shift in consumer priorities toward holistic health. The wellness market growth covers various sectors, including personal care, beauty, weight loss, nutrition, and even wellness real estate, showcasing an increased focus on mental and physical well-being in daily life.
The Wellness Boom: A Post-Pandemic Priority
Following the pandemic, individuals have become more health-conscious, leading to a surge in demand across wellness sectors, especially in personal care and nutrition. This post-pandemic wellness trend underscores the heightened importance people place on preventive health and self-care, resulting in a robust rebound for the wellness industry after the temporary setbacks experienced during COVID-19. North America, known for its higher expenditure in wellness, remains at the forefront of wellness market spending, emphasizing regional differences in health-related investments.
Corporate Wellness: Investing in Employee Well-Being
The corporate wellness market is also expected to witness considerable expansion by 2032 as companies increasingly recognize the value of prioritizing employee health. Employers are investing in wellness initiatives—like mental health resources, fitness programs, and wellness retreats—to foster a happier, healthier workforce. This evolution in workplace culture signals a new era where corporate wellness programs are as essential as traditional benefits, underscoring the strong connection between well-being and productivity.
Hybrid Work and Remote Job Satisfaction
The rise of hybrid work productivity is another trend reshaping the wellness industry. Research shows that employees working in a hybrid model report similar productivity levels to in-office employees while experiencing higher job satisfaction. Many credit this satisfaction to the flexible balance between work and personal life that hybrid work enables. Reflecting the quirks of remote work, Kevin O’Leary recently commented on the “business on top, casual on the bottom” fashion trend during a television appearance, capturing the essence of remote work culture.
Tech Innovations: Smart Glasses and Health Monitoring
In the tech world, wellness trends are influencing the development of new devices. Following Meta’s success with its recent launches, Apple is now considering entering the smart glasses market. With wearable technology already playing a pivotal role in health tracking, Apple’s potential entry could further revolutionize how people engage with their well-being.
Surprising Shifts in Wealth and Health Culture
A recent analysis also uncovered that the wealthiest U.S. city is not in New York or California, reflecting new demographic trends in wealth and wellness priorities across regions. This unexpected shift further emphasizes how health and wellness are spreading beyond traditional high-income areas, with other regions leading in wellness-oriented lifestyles and investments.
Wellness Industry Trends: The Future Outlook
The future of the wellness industry points to sustained growth across various areas, from corporate wellness to advanced personal care solutions. Companies are likely to increase their investment in wellness programs, creating a more supportive workplace culture focused on employee well-being. As health and wellness industry trends continue to evolve, the industry’s growth will likely see further expansion into wellness tourism, sustainable health products, and more personalized wellness solutions.
This remarkable rise of the global wellness industry exemplifies the shift in modern values, with a focus on health, fulfillment, and a balanced lifestyle. The wellness sector’s continued growth signals a bright future where personal well-being takes center stage in both our personal and professional lives.
Entrepreneurs
Nvidia Set to Replace Intel in the Dow Jones Industrial Average: A New Era in Semiconductors
Published
2 weeks agoon
November 4, 2024In a groundbreaking shift within the Dow Jones Industrial Average, Nvidia is set to replace Intel, marking a significant transformation in the semiconductor industry. This transition reflects the soaring prominence of artificial intelligence (AI) and the evolving landscape of technology.
Nvidia’s Meteoric Rise
Nvidia has enjoyed a remarkable year, with its shares skyrocketing more than 170% in 2024, building on a staggering 240% increase the previous year. As a result, the company’s market capitalization has ballooned to $3.3 trillion, positioning it as the second-largest publicly traded company, just behind Apple. The rapid ascent is fueled by surging demand for Nvidia’s graphics processing units (GPUs), especially among tech giants like Microsoft, Meta, Google, and Amazon, which are purchasing Nvidia’s H100 GPUs in vast quantities to bolster their AI capabilities.
With revenue more than doubling over the past five quarters—tripling in three of those periods—Nvidia has become a focal point in the tech sector. The company recently indicated that demand for its next-generation AI GPU, known as Blackwell, is “insane,” further highlighting its pivotal role in the AI revolution.
Intel’s Decline
In stark contrast, Intel has faced a challenging year, with shares plummeting over 50% as the company struggles to maintain its once-unassailable market position in the face of mounting competition from Advanced Micro Devices (AMD) and others. Long recognized as a leader in PC chip manufacturing, Intel has fallen behind in the AI race, failing to make substantial advancements in this burgeoning sector.
Recent filings from Intel revealed plans for significant restructuring, including a reduction of its workforce by 16,500 employees and a contraction of its real estate footprint. These measures, initially announced in August, underscore the company’s ongoing battle with manufacturing challenges and its struggle to regain competitiveness.
A Strategic Shift in the Dow Jones Industrial Average
The switch, set to take effect on November 8, is not only a pivotal moment for Nvidia and Intel but also highlights broader trends within the Dow Jones Industrial Average, which comprises 30 components weighted by the share price of individual stocks. With Nvidia’s entry, four of the six trillion-dollar tech companies—Nvidia, Apple, Microsoft, and Amazon—will now be represented in the index, with Alphabet and Meta remaining outside its ranks.
The decision to include Nvidia follows its strategic move earlier this year to execute a 10-for-1 stock split. While this maneuver did not affect its overall market capitalization, it effectively lowered the price of each share, facilitating the company’s inclusion in the Dow Jones Industrial Average without overly skewing the index.
This change is particularly noteworthy as it represents the first adjustment to the index since February, when Amazon replaced Walgreens Boots Alliance. Over the years, the Dow Jones Industrial Average has sought to enhance its representation of the largest and most influential technology companies, adapting to a rapidly evolving market landscape.
As Nvidia replaces Intel in the Dow Jones Industrial Average, it signals a transformative moment in the semiconductor industry. The rise of AI has not only reshaped the fortunes of these two companies but also indicates a broader shift in the technological landscape, with Nvidia poised to lead the charge into the future. This transition not only reflects the dynamics of competition in the tech sector but also serves as a bellwether for the ongoing evolution of industries driven by innovation and technological advancement.
Business
How to Discover Winning Startup Ideas in 5 Simple Steps?
Published
3 weeks agoon
October 29, 2024Finding a great startup idea can be challenging, especially since many entrepreneurs start with an idea that sounds exciting but lacks real impact. As Y Combinator co-founder Paul Graham warns, focusing solely on coming up with an idea often leads to plausible-sounding but ultimately weak concepts. Instead, a structured approach to uncovering viable opportunities is crucial.
Here’s a 5-step guide to help you discover startup ideas that are worth your time and effort:
1. Spot and Solve Everyday Work Challenges
One of the most effective ways to uncover meaningful startup ideas is by identifying problems in your day-to-day work life. Small inefficiencies, recurring challenges, or time-consuming tasks often hide valuable opportunities. When you spot these inconveniences and seek to solve them, you’re likely to find ideas that have immediate relevance and clear value for potential users.
Start by making a habit of noting process inefficiencies or areas for improvement in your job or industry. Over time, you may spot patterns, revealing specific areas where your solution could grow into a viable business.
2. Dive Into Niche Markets for Unique Opportunities
Niche markets are often gold mines for startup ideas. These specialized markets, often overlooked by larger companies, are underserved, which means there’s space for innovative solutions. By focusing on a particular niche, you not only narrow down your audience but also tap into a community with specific challenges and needs.
For example, pet technology has emerged as a growing niche market, with products like GPS-enabled collars and health-tracking apps designed for pets. According to the American Pet Products Association, Americans spent over $100 billion on their pets last year, showcasing the revenue potential even within a smaller segment. Exploring niche markets can help you discover startup ideas with clear demand and less competition.
3. Leverage Emerging Trends to Uncover Ideas
Keeping an eye on trends, both technological and societal, gives you a glimpse of potential needs on the horizon. Following these trends allows you to anticipate shifts in demand and behavior, positioning you to address these needs early.
For example, the rise of remote work during the COVID-19 pandemic drove demand for tools like Zoom, Slack, and Asana, which catered to distributed teams. Today, emerging trends like artificial intelligence, renewable energy, and the gig economy are creating new opportunities. Analyze these trends to identify what people are likely to need in the future and shape your business around these insights.
4. Connect With Users Early On
Direct engagement with potential users is invaluable when identifying and validating startup ideas. Joining online communities, social media groups, or industry forums helps you understand real frustrations and challenges that users face, often revealing insights that typical market research might miss.
By actively listening and engaging with users, you can shape your idea to better align with their needs. This approach not only strengthens idea validation but also helps in building an early user base that’s invested in your project.
5. Quickly Test and Validate Your Ideas
Validation is crucial for any startup, and adopting a “fail fast” approach is the best way to ensure your idea has genuine potential. Rather than investing heavily in a full product, start with a Minimum Viable Product (MVP) or prototype to test your concept with real users.
Dropbox famously did this by releasing a simple explainer video to gauge interest before fully developing the product. Using platforms like online surveys, landing pages, and basic prototypes can help you measure initial interest. If feedback is underwhelming, pivoting early allows you to adjust your idea to better fit the market.
Wrapping Up: A Clear Path to Startup Success
Uncovering a valuable startup idea is more than just a spark of inspiration. It involves a strategic approach where you tackle real problems, explore niche markets, stay updated on trends, connect with users, and validate ideas quickly. By following these steps, you increase your chances of finding an idea that has solid potential and a path to success.
For entrepreneurs ready to take on this journey, start by observing, testing, and refining your ideas with a structured approach that can lead to a winning startup.
Entrepreneurs
Ambarish Nag Unveils His Most Personal Track Yet: ‘Every Step of the Way’—A Journey of Love and Vulnerability
Published
3 months agoon
September 4, 2024Mumbai-based musician Ambarish Nag has once again captivated audiences with his latest single, ‘Every Step of the Way,’ which was released on August 30th, 2024, across online platforms. This new track is not just another addition to his discography; it is a deeply personal exploration of vulnerability and the universal longing for connection.
Ambarish’s journey through music has always been about bridging gaps—both cultural and emotional. With his debut album last year, he skillfully blended Eastern and Western influences, crafting a sound that resonates across borders. This unique fusion has not only defined his style but also cemented his reputation as a visionary artist in the music industry.
However, the road to artistic fulfilment is often complex. Since launching his debut single in July 2019, Ambarish has steadily built his name, with each new release in 2020, 2021, and 2022 bringing him closer to his aspirations. His first full album in 2023 marked the culmination of years of relentless effort and creative growth, earning widespread acclaim for his ability to forge deep connections with listeners.
The creation of ‘Every Step of the Way’ came with its challenges. After writing the lyrics and beginning the recording process last September, Ambarish took a six-month hiatus—a necessary period of introspection that allowed him to delve deeper into the emotions fueling his most intimate work to date.
At the heart of ‘Every Step of the Way’ lies a powerful message: the courage to embrace love and conquer the fears that often accompany intimacy. Ambarish’s exploration of the complexities of human relationships offers a narrative that resonates with many, reflecting his growth as an artist and as a person willing to share his vulnerabilities with the world.
Ambarish’s journey is one of resilience and perseverance, guided by his belief in the power of persistence—a belief encapsulated in his favourite Steve Harvey quote: “If you quit, there’s no doubt it will never happen.” Through his music and his story, he aims to inspire others to push through their challenges.
With the release of ‘Every Step of the Way,’ Ambarish remains focused on the future, eager to continue his creative journey and embrace new opportunities. Each step he takes is a testament to his commitment to bridging cultures and creating enduring connections through his music.
Ultimately, ‘Every Step of the Way’ is more than just a song; it is a reflection of Ambarish Nag’s ongoing journey as an artist and a human being. As he continues to break down barriers between Eastern and Western musical styles, Ambarish is driven by a relentless passion for his craft, always striving to be the hardest-working person in any room. This latest single is yet another chapter in his inspiring story of dedication and artistic vision.
Entrepreneurs
Designing a Life You Love: A Journey of Transformation with Dr. Anu B
Published
3 months agoon
September 3, 2024You feel stuck. You feel trapped. You’re working a dead-end job. You have zero motivation and you don’t see how you can make a change and get out of that slump. I’m sure some of you may have found yourselves in a similar situation at some point. Instead of getting overwhelmed, Dr. Anu B. encourages you to dare to reimagine a life that truly excites and fulfills you. “Imagine approaching life with the mindset of a designer. Begin to ask bold questions like, What if I could design a life that truly excites me? or How would my world change if I could create something entirely new and fulfilling?”. “By embracing this approach, you open the door to a life of possibilities that you might have never imagined “she explains.
Dr. Anu’s illustrious career spans over two decades, highlighted by exceptional achievements in both education and industry. With a Doctorate in Engineering, she has built a reputation for profound technical expertise and visionary leadership, earning accolades such as the Business Excellence HR Future Leader Award and the Guru Shiromani Award for 2022-23.
Yet, amidst her professional success, Dr. Anu confronted a startling realization: despite her accomplishments, there was a profound disconnect between her external achievements and her inner sense of fulfillment. She discovered that many high-achievers, herself included, grapple with feelings of anxiety and discontent, drifting through lives they hadn’t consciously designed.
This revelation ignited a transformative journey for Dr. Anu. Driven by the need for a deeper purpose, she sought out the “Designing Your Life” (DYL) program at Stanford University, created by Bill Burnett and Dave Evans. The program’s core idea—that we can intentionally craft our lives like any other project—resonated deeply with her, sparking a profound personal transformation.
Embracing this new perspective, Dr. Anu transitioned her focus to life coaching. As a certified Designing Your Life Coach, she now dedicates herself to guiding high-performing individuals, including senior executives and leaders, in designing lives that truly align with their deepest values and aspirations. Her journey from a successful career to a passionate advocate for intentional living serves as a powerful testament to the possibility of crafting a life filled with genuine joy and purpose. Her coaching practice has empowered countless people worldwide to break free from anxiety and design lives that thrive with purpose and joy.
Redefining Success Through Life Design
Dr. Anu’s philosophy centers around the idea that success is not just about achievements but about ‘ Becoming’ the person you were meant to be. She always encourages people to view their lives as their most significant project—one they have the power to shape intentionally.
At a recent panel discussion on ‘The Entrepreneurial Mindset,’ alongside leaders like Rohit Gupta, COO & Co-Founder of College Vidya, and Renuka, Founder & CEO of Indo Nippon Enterprises Pvt. Ltd., Dr. Anu captivated the audience with her powerful insights on overcoming anxiety and creating a fulfilling life.
Her work has garnered significant recognition, being named among the Top International Life Coaches and frequently invited as a speaker to talk about mental health, work-life balance, career redesign, and the importance of designing a life written by you—not for you. She has shared her insights on various platforms, and international forums like I’m a Story covered by television media and the Indian Alert’s “50 Entrepreneurs of the Year” event.
Empowering Change: From Burnout to Happiness
Dr. Anu’s unique blend of technical acumen, human empathy, and coaching expertise sets her apart in the world of life coaching. She doesn’t just offer coping strategies; she provides actionable, life-changing techniques that have proven effective in her own life and in the lives of her clients.
Her coaching programs incorporate proven techniques like reframing, prototyping, and mind-mapping to help clients build their way forward, step-by-step, towards a life that is not just lived but is a masterpiece of their own making. She supports clients through career transitions, personal setbacks, and life redesigns, empowering them to take radical responsibility for their happiness and fulfillment.
In addition to her coaching practice, Dr. Anu co-founded BlissfulDrapes, an Indian ethnic fashion brand. However, this venture is more than just a business; it is a means to give back. The profits from BlissfulDrapes fund Designing Your Life programs for young girls, and single mothers in India, helping them achieve financial independence and personal fulfilment. Through this initiative, Dr. Anu demonstrates her commitment to empowering others not just in words, but through action.
A Vision for the Future: Creating 10,000 Opportunities
Looking ahead, Dr. Anu’s vision is to create 10,000 opportunities for people to design a life where they can thrive. Her journey from academia to international life coaching, her achievements like the Indian Legacy Award 2021, and her commitment to making a meaningful impact all serve as a testament to the power of life design.
Designing Your Destiny: Are You Ready?
Dr. Anu B is not just a life coach—she is a guide for those ready to take the reins of their own lives. She invites you to awaken to the incredible potential that lies in designing your own life. Are you ready to discover how powerful and exhilarating life can be when you start designing your destiny?
In the words of Dr. Anu, “Don’t just live—design a life you love.”
If you’re feeling stuck or seeking to realign your life with your deepest values and aspirations, Dr. Anu invites you to explore this journey with her.
Visit her website at http://www.anubinny.com/ or email her at dranubinny@gmail.com to schedule a clarity call.
Entrepreneurs
SHIKSHIT BHARAT SANKALP HUMARA VISION OF BANSHI VALLABH MISHRA
Published
4 months agoon
August 8, 2024Banshi Vallabh Mishra, a dynamic and visionary second-generation entrepreneur based in Delhi, spearheads a transformative movement in the education sector. With over five years of experience across diverse fields such as real estate, education, export manufacturing, and information technology, Mishra’s journey is marked by his unwavering commitment to social upliftment and educational excellence.
Banshi Vallabh Mishra, Director of Operations; has been associated with the RISHI GROUP OF EDUCATIONAL INSTITUTIONS comprising a School, a Vocational College, an Institute, and a Digital Learning Centre since its inception.
The Rishi Group’s business model focuses on delivering an education that is not only comprehensive but also inclusive, catering to the diverse needs of students. The group’s commitment to inclusivity and holistic education sets it apart from its peers, ensuring that every child has the opportunity to grow and succeed.
His vision extends to the Rishi Group of Educational Institutions, committed to a career-oriented educational project with a holistic and inclusive approach. This includes integrating AI, robotics, skills training, vocational education, and digital learning into the curriculum.
In the education space, he has also co-founded the Education First an ed-tech venture aimed at leveraging technology to provide world-class education at the grassroots. MOOCs on Introduction to Family Engagement in Education by Harvard University. MOOCs on The Future of Work: Preparing For Disruption by World Bank Group.
Banshi Vallabh Mishra’s entrepreneurial journey began under the aegis of the Conscient Group, where he provided strategic direction to various entities. His passion for education led him to co-found Education First, an ed-tech venture to leverage technology to provide world-class education at the grassroots level. This initiative reflects his belief that “One child, one teacher, one book, one pen can change the world.”
Despite the challenges posed by the recession, His initiatives have grown tremendously, transitioning from offline to online platforms to continue delivering quality education. His resilience and adaptability have been crucial in navigating these turbulent times, ensuring that education remains accessible to all.
Banshi Vallabh Mishra’s life lesson, “Together may we give our children the roots to grow and the wings to fly,” encapsulates his dedication to empowering the next generation. By providing strategic direction and innovative solutions, he hopes to inspire others to contribute to the betterment of society through education.
Looking ahead, he aims to build an education system that meets the highest global standards while being deeply rooted in Indian culture and ethos. His vision is to create a vibrant, knowledgeable society by ensuring higher quality education for all, ultimately making India a “Global Knowledge Super Power.”
Through initiatives like SHIKSHIT BHARAT SANKALP HUMARA, he is not just dreaming of a better future but actively working towards it. His efforts in education are a testament to his belief that holistic and inclusive education is the key to a brighter tomorrow.
In conclusion, a thorough professional with rich, in-depth, and extensive experience in the educational arena, a distinguished gentleman with deep-rooted values and ethics, a culturally inclined individual, with an admirable sense of social responsibility and is progressive in thought- Banshi Vallabh Mishra carries the Rishi Group of Educational Institutions legacy.
Entrepreneurs
The Creative Orbit: A New Approach to Performance Marketing
Published
4 months agoon
August 5, 2024Shanaya Fernandes, the visionary founder of The Creative Orbit, has always been driven by an entrepreneurial spirit. She is a former student of St. Xavier’s College, where she diligently completed her junior college education. She later embarked on a new academic journey, pursuing a double degree, including a BBA, while paying for her education through freelance work. This experience showed her determination from an early age.
After graduating, Shanaya joined Sony Music Entertainment, where she worked for two years. While supporting her family, she also dreamed of starting her own business. During her time at Sony, she began to teach herself digital marketing, realizing how powerful it could be in achieving her goals.
At just 24 years old, she launched The Creative Orbit, which stands out in the crowded marketing world by offering complete solutions for performance marketing. Unlike many agencies that just run ads, The Creative Orbit takes a comprehensive approach to help businesses generate leads and convert them into paying customers. With a dedicated sales team, clients don’t have to worry about following up on leads themselves.
Shanaya’s entrepreneurial journey hasn’t been easy. Along with her partner Omkar, she spent countless hours studying, experimenting, and overcoming rejections. By focusing on solving real problems for clients, they built a brand that truly addresses the challenges businesses face in converting leads.
The Creative Orbit’s end-to-end service helps businesses grow without the usual stress of marketing. They manage everything from running ads to converting leads into customers, providing a smooth experience for their clients. This approach has allowed them to work with well-known figures like India’s biggest casting director, Mukesh Chhabra, and many international brands
Shanaya believes in the power of a positive mindset. She encourages others to ask, “How can I do it?” instead of saying, “I can’t do this.” Her journey highlights the importance of being flexible, learning from experiences, and pushing through challenges.
In addition to her work, Shanaya is a running enthusiast and has even completed a marathon. She hopes to inspire others and plans to integrate AI into her agency’s services to enhance their offerings. Excited about working with various D2C brands, she looks forward to meeting more entrepreneurs and learning from their experiences.
Shanaya’s story and The Creative Orbit’s success remind us that with determination, adaptability, and a focus on solving real problems, businesses can thrive and make a significant impact in their industries.
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