Chewy: Fiscal Q1 Earnings Snapshot
On a per-share basis, the Plantation, Florida-based company said it had profit of 15 cents. Earnings, adjusted for stock option expense and severance costs, were 35 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
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Entrepreneur
25 minutes ago
- Entrepreneur
I Built a 7-Figure Business with a Team I Had Never Met – Here's What I Learned
I was sitting at my computer, catching up on emails, when it finally hit me: I built a seven-figure business with a team I had never met. Opinions expressed by Entrepreneur contributors are their own. I built a seven-figure business with a team I had never met in person. Some may call my journey lucky. Others might credit hard work, consistency or timing. But for me, the answer is clear: I built it on four principles — trust, loyalty, appreciation and proactiveness. These values guided every major decision and helped shape the kind of company I wanted to run. This isn't a one-of-a-kind success story. But it is proof that your principles can shape your path. Let's go back to the beginning. Related: At Age 23, He Started a Side Hustle While on Welfare. It Led to a 7-Figure Business and a Stay on Richard Branson's Private Island. Making the decision to outsource In 2013, I was deep in the trenches of my managed IT business in Boca Raton, Florida. We were overloaded. No matter how hard my small team worked, we were constantly behind. One project would wrap, and two more would surface. My team was burned out — and so was I. Hiring more staff seemed like the obvious answer, but we didn't have the capacity or budget for it. So I started looking elsewhere. What I found wasn't in a typical how-to blog or playbook. It was outsourcing — at the time, still relatively new in the small business world. Global IT outsourcing was just gaining traction, with worldwide spending estimated at $937 billion. But to me, outsourcing offered exactly what we needed: Relief for my team Operational efficiency Scalable growth at a manageable cost So, armed with research and anchored by my core four, I hired my first outsourced contractor, Charlie. Building an outsourced team from scratch I went in with low expectations. I wasn't sure how time zones or cultural differences would affect the quality of work. But Charlie quickly proved himself, outperforming some of my in-house employees. Impressed, I asked him if he had friends or family with a similar mindset. One introduction led to another, and before long, my remote team was growing. If you're hiring your first remote teammate, start small and think smart. Look for a reputable BPO (business process outsourcing) provider or virtual assistant agency with pre-vetted candidates. Here's what to evaluate: Availability – Will they work during your key business hours? – Will they work during your key business hours? Skills – Do they have the technical and soft skills required? (Some providers even help you find specialists like engineers, intake coordinators, or sales reps.) – Do they have the technical soft skills required? (Some providers even help you find specialists like engineers, intake coordinators, or sales reps.) Cost – Are their rates competitive for your market and size? – Are their rates competitive for your market and size? Scalability – Can they grow with you? Ask for case studies or references. – Can they grow with you? Ask for case studies or references. Security – Do they offer secure, cloud-based environments and meet standards like ISO, SOC 2, or HIPAA? Start with a small, low-risk task. Conduct a brief video interview, ask real-world scenario questions, and prioritize communication skills alongside technical ability. Some of your best future hires may come through internal referrals, just like Charlie did for me. Related: How I Built a 7-Figure Business in Less Than 8 Months by Making This Simple But Powerful Shift Navigating the inevitable challenges Outsourcing isn't a magic wand. You'll face friction, especially early on. Here's how to navigate it: Over-communicate – Remote teams don't have the luxury of hallway chats. Be clear, concise and consistent with expectations. – Remote teams don't have the luxury of hallway chats. Be clear, concise and consistent with expectations. Acknowledge cultural differences – Respect local holidays, time zones, and work-life balance. Empathy builds loyalty. – Respect local holidays, time zones, and work-life balance. Empathy builds loyalty. Encourage and implement feedback – Your remote team is your backbone. Ask for their input — and act on it when it improves operations. Not every hire will be a fit. That's okay. What matters is your commitment to getting the right people, not just any people. The core four that built my business At the heart of all this are the same four values that helped me build a sustainable, remote-first company: Trust Start by setting clear expectations. Use tools like Trello, ClickUp, or Asana. Let people own their work early on — don't micromanage. That early team of five, built on referrals and trust, became the foundation for what eventually became my company, Remote CoWorker. Loyalty It's built through consistency, feedback and respect. Nearly all of the original team still works with me today, except for one member who sadly passed away. Appreciation A thank-you message. A surprise bonus. A Slack shout-out. It doesn't have to be extravagant — it just has to be genuine. Proactiveness Don't wait for chaos to build systems. Create onboarding documents, training videos and feedback loops before you need them. Invite your team to improve processes — they often see things you don't. Culture isn't written on a wall. It's modeled by leadership. Every interaction is a chance to reinforce your values. It's your turn Back in 2013, IT outsourcing was a $937 billion market. In 2025, it's valued at over $1.5 trillion, with projections to nearly double by 2034. If I hadn't leaned into my core four, I might have missed that opportunity entirely. If you're overwhelmed and ready to grow, outsourcing might be your next move. Start with one repetitive task. Document it. Delegate it. Then test, refine, and scale from there. Use tools like Loom for training, Slack for communication and Notion for documentation. You don't have to build your team overnight — just start by replacing one seat with someone who's reliable and aligned with your values. But remember: results start with expectations. Don't overload your VA with work you wouldn't do yourself. Keep the scope realistic and the communication open. That's how trust forms — and growth follows. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
Yahoo
34 minutes ago
- Yahoo
A family spent $69,000 turning their garage into an apartment so their son could live rent-free while launching his startup
Christina Starmer's son wanted to move out of the house after graduating from high school. She and her husband converted their garage into a studio apartment where he could live rent-free. Their son focused on his startup while he lived there, and the Starmers can now rent out the space. Many parents go above and beyond to support their kids — but Christina and Jeff Starmer took it to another level when their son wanted to launch a startup just after graduating from high school. They decided to turn their garage into a studio apartment, giving him a free place to live while he focused on his work. The project was a boon to the young founder — and allowed the Starmers to stumble into a lucrative side hustle. In the fall of 2022, the Starmer family was on the cusp of transition. Christina and Jeff live in Jacksonville, Florida, where they own CenterBeam Construction, a company that renovates historic homes. They have two kids, Chloe Starmer, 29, and Lyman Starmer, 21. In the fall of 2022, Lyman was on the cusp of graduating from high school. He planned to move out of his parents' home after graduation and devote himself to launching his startup, Deli, which uses AI to help people with the house-hunting process. But Christina, 55, was concerned her son couldn't afford to live on his own and start his company, particularly because rent was high in their area in the wake of the pandemic. "He was having to figure out how to get programmers and stuff like that, and I was like, 'You don't have any money and any money that people do put into your company, you don't want to spend that on housing,'" she told Business Insider. The family's garage offered the perfect solution. The Starmers have lived in their home for 19 years. During that time, they added a separate garage to the property. The partially finished, 378-square-foot garage mostly served as a storage space for the family, housing things such as bikes, workout equipment, and a second refrigerator, though it had electric and plumbing capabilities that had yet to be hooked up. Since they were no strangers to construction and home renovation, Christina suggested turning the space into an apartment where Lyman could live rent-free. She and Jeff could also list it on Airbnb when their son moved out, giving them another income source. "He was working so hard," Christina said. "We started a business, and I know what it takes to start a business, so I'm like, 'I would give my kids all the opportunity in the world.'" It was a no-brainer for the whole family. The Starmers started working on the renovation in November 2022. Christina said she initially set a budget of $48,000 for the remodel. She and Jeff were able to serve as their own contractors for the project and do most of the labor themselves, outsourcing work only for changes to the electricity and plumbing. Their daughter, Chloe, helped her parents with the design and layout of the space, visiting them on weekends to help with the renovation, and Lyman contributed to physical work such as tiling and framing. The structure originally had two garage doors, and the renovation kicked off with closing up one of them. "The other garage door remains today," Christina said. "That way, if somebody else ever wanted to convert it back, they could have a garage that they could drive in." The completed space functions like a cozy studio apartment. When you enter the apartment, you walk right into the kitchen, which has a small island with bar seating, a refrigerator, a stove, and a dishwasher. Maximizing space was a top priority as they renovated. For instance, the kitchen was designed with a built-in pantry. "While we were framing, I was like, 'I know it's a 2-by-4 wall, but I think I can make a pantry out of this 2-by-4 stud here,'" Christina said. "So instead of just drywalling it up, we made a large, long box and put some doors in the front." "I put wallpaper in the back and a couple of shelves, and now all of a sudden, you have a pantry for canned foods," she added. Bringing light into the living area was a challenge. A small living area sits across from the kitchen, and it includes an air conditioning unit. Christina said the biggest challenge with designing the living area was the limited natural light in the room, as the whole apartment had only one glass door and one window. The glass door was in the bedroom, which was separated from the living area by a wall, so the Starmers decided to add an internal window to the space. "We went to one of those old salvage yards and got a glass door from like the 1900s, turned it sideways, and it became a window in between the two rooms," Christina said. High ceilings make the space feel bigger than it is. "The garage was originally built with a hip roof, which makes the ceiling higher," Christina said. The ceilings are closer to 11 feet instead of the typical 8 feet. Plus, there are some exposed beams for a touch of character. "It feels so much bigger," she added. The apartment even has a washer and dryer, though Christina has one regret about it. The apartment's bathroom is across from the bedroom, and it sits a step above the rest of the space. "The plumbing was already stubbed out there, so we didn't want to have to jack up concrete and stuff," Christina said of why there was a step. Instead, they just raised the whole bathroom by about 7 inches, which saved the Starmers money and allowed them to create separation between the bathroom and bedroom. They also put a full-size washer and dryer in the mini hallway between the bedroom and bathroom, stacking them atop each other just across from a closet. Christina put a drawer beneath the machines for storing detergent and other laundry supplies, which she said still "bugs" her to this day because it made the dryer a little too high to reach easily. A step ladder easily solves the problem, though. Designing the small space wasn't an easy task. Christina said designing the layout for the apartment was the biggest hurdle of the project, as she wanted it to feel like a true studio despite the limited square footage. "We wanted a really good flow in a super tiny space and for someone to not feel boxed in," she said. She tried to avoid some of the pitfalls of mini spaces, like creating a bunk bed that's too small to stand up in or ultra-slim stairs. Instead, she focused on creating a one-story space that felt spacious and inviting. The renovation ended up costing about $69,000 and took about four months. Christina and Jeff wrapped the project in March 2023, creating a space that worked for their son while he finished high school and launched his career. It will also be easy to rent out eventually. "We haven't put it on Airbnb yet, but that's coming," Christina said. Though the project was over budget, the Starmers still saved tens of thousands of dollars by working as their own contractors. "If you do hire a contractor and you are paying all of that labor, which comes with trim out, framing, installing cabinetry, and all that stuff that we did ourselves, you will definitely be in that $120,000-ish range of today's market," Christina said. Lyman moved into the apartment when it was finished and lived there until he relocated to New York City this year. "My parents turning their garage into a studio apartment gave me the one thing first-time founders never have enough of — runway," Lyman said. "Skipping roughly $1,500 in monthly rent for almost two years meant I could funnel every spare dollar into Deli, the AI home-search platform I was building — hiring contract devs, covering cloud bills, and stretching our early runway instead of a landlord's pocket." "I had a door I could close for all-night coding marathons and investor Zooms, yet I was still close enough to step inside for dinner or a quick pep talk," he added. "That mix of independence and family support turned a simple remodel into the launchpad for my startup." Christina said the transition to her son living in the apartment went smoothly, and she was grateful she could make things a bit easier for him. "When he started living outside, in the mornings, he would come in and have coffee before he went to school, even though he had a coffee pot out there," she said. "Then in the evenings, by the time he got home and showered and worked a little bit, he would be back in and we would all eat dinner together." "I thought it was lovely," she added. Now, the rest of the Starmer family is helping others transform their garages. The Starmers shared videos about the apartment project on their social media platforms, and the videos went viral, amassing millions of views on TikTok. Because of the interest in their videos, Christina, Jeff, and Chloe decided to share what they learned about renovating small spaces online. They sell plans for garage conversions on their website, Her Home Reno. In June, they also launched an online course to teach novices how to take on a project like theirs. Christina said they'd sold hundreds of plans so far, and she hopes their knowledge can help others make the most of their spaces. Read the original article on Business Insider
Boston Globe
an hour ago
- Boston Globe
Jim Bennett tapped as interim R.I. commerce secretary
As Commerce secretary, Bennett is expected to work on deals to bring larger corporations and firms to Rhode Island, and is expected to focus on the continued redevelopment of the long-vacant 'Superman' building from office space to hundreds of apartments. (The developer is Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up While serving as president and CEO of Commerce, Bennett was credited for bringing Canton, Mass.-based Advertisement From 2011 to 2015, Bennett served as Providence's director of economic development. He also served on the board of directors of the Rhode Island Convention Center Authority on and off from 1995 until he Advertisement Bennett has also worked in the private sector as the executive vice president of Bennett is the founder of Madison Components LLC, a New Hampshire-based distributor of electronic components and independent reseller of refurbished hardware that is now closed. He also founded Mitkem Corporation and Ceimic Corporation, both of which operate environmental testing labs; and investment banking firm Albert, Bennett & Co. The investment firm's registration with the Financial Industry Regulatory Authority He was also candidate for state treasurer in 1998 and governor in 2002. He lost in the Bennett graduated from Brown University in 1979, where he played hockey. He was He is registered to vote in Narragansett, R.I., and owns property in Florida, according to a copy of his financial disclosure filed with the state, which was obtained by the Globe. Advertisement Bennett replaces Tanner focused on small businesses during her tenure, and was tasked with helping pull Rhode Island out of a post-pandemic slog, overseeing the development of the Prior to Tanner, focused on redeveloping Alexa Gagosz can be reached at
