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Tag: Business Culture

  • Is Your Workplace Toxic? It Could Cost You Millions of Dollars | Entrepreneur

    Is Your Workplace Toxic? It Could Cost You Millions of Dollars | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    We have all heard the jokes online that if someone puts in their job listing that “we will treat you like family,” you should run away — that is the last thing that a company will actually do. To be completely transparent, I once consulted with a friend who worked with a company that said this, and they had an extremely high turnover rate.

    Employees at this company called and sent Slack messages at every hour of the day. The manager expected the employees to be available 24/7 even though the company itself operated with normal 9 to 5 hours. The manager would host a team meeting every month where they called out every single person on the team to tell them what they did wrong throughout the month — in front of everyone else. Achievements were never acknowledged in these team meetings.

    On the other hand, my friend also worked with a different company whose employees absolutely adored the work culture. If you made a mistake, the business owner acknowledged it and helped you understand ways you could improve in the future. There was never a punishment or scolding involved. She encouraged everyone to use it as a learning experience.

    She also recognized people’s strengths and would actively approach them about other opportunities. For example, she noticed one employee who was originally hired to answer the phone had an affinity for numbers and enjoyed budgeting. With a lot of encouragement from the team and a little training, that receptionist moved up to inventory management.

    All jokes and internet memes aside, the culture at your company can make or break your business.

    Related: How to Create a Workplace Culture Where Everyone Feels Like They Belong

    The cost of bad company culture

    According to the Society for Human Resource Management, it can take up to 6-9 months worth of an employee’s salary to find their replacement. That means losing a $60,000 employee can cost you up to $45,000 trying to find their replacement. Just to put this into perspective, that aforementioned company with the horrible work culture had an average six-month turnover rate for a team of 15 people. Let’s say they were all salaried at $60,000. That means every six months the company was essentially burning $675,000 — which adds up to $1.35 million per year. As you might have guessed, that company went out of business.

    Of course, company culture is far more than money. Morale, performance and finding top talent all take a hit with a lackluster workplace atmosphere. Without positivity and recognition of successes, employees feel as though they can never do anything correct, which leads to low morale and, in turn, low innovation and enthusiasm for the job. If someone does not care about their job, they will not do it well, leading to external issues for the company such as poor customer service and missed deadlines. And if the company is not able to innovate in our fast-paced ever-evolving world, the business will not survive.

    This then leads to employment issues. Companies with a negative reputation will find it difficult to hire top talent because no one wants to work in a place where they are not valued. According to an estimate published by Gettysburg College, the average person will spend 90,000 hours of their lifetime at work — that’s about one-third of a person’s life. People do not want to spend that time in a place that causes them stress or pushes them to the brink. This includes current employees too; people do not want to work at a place where they constantly fear losing their job; so, many people (once they realize the toxicity of the workplace culture) will quit. This leads to a never-ending, vicious cycle of talent coming and going, leaving the business without a way to grow.

    Related: 10 Excellent Company Culture Examples For Inspiration

    Create a culture that retains talent

    There has been a shift recently where people are not staying at jobs as long as they used to. You’ve most likely heard of people who worked at the same company for 50 years or more. Nowadays, it’s more common than not to hear of someone who has worked for multiple businesses over a span of just a few years. This is due to the kind of work, benefits included and — you guessed it — company culture. Having worked for almost two decades in the hiring industry, here are ways to create a company culture that will retain your top talent, save you money and help your business grow:

    1. Be present. Too many people want to own companies without having to be present to run them. If you do not want to work there, why would your employees want to work there?
    2. Lead by example. Everyone is human, and even artificial intelligence tools make mistakes. Use a mistake or problem as a learning example, and you might even be able to turn it into a marketing opportunity.
    3. Empower employees. Give your employees the opportunities to go further in their careers with training, certifications, etc. If someone wants to improve, help them!
    4. Celebrate achievements. Recognize successes and create goals that lead your team to receive rewards.
    5. Communicate openly. If something is going wrong, it needs to be pointed out. Do so in a professional manner so that the team can address the problem.
    6. Promote a work-life balance. Especially in a remote workforce, people are tied to their devices. Make them take breaks and vacations and set a range of working hours that encourage this balance.
    7. Offer incentives as part of the job package. Benefits play a big role too for potential incoming talent. Look at what your company can offer to entice employees to join your workforce.

    Related: How to Create a Work Culture That Can Survive Anything

    If you are not sure what to change with your workplace culture, go to the source and ask your employees. Their invaluable feedback will help you create a culture that encourages employees to stay and fosters top talent to grow with the business.

    Lesley Pyle

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  • Cyber Attacks Are Inevitable — So Stop Preparing For If One Happens and Start Preparing For When One Will | Entrepreneur

    Cyber Attacks Are Inevitable — So Stop Preparing For If One Happens and Start Preparing For When One Will | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In 2024, organizations faced an average of 1,308 cyber attacks per week in Q1, a 28% rise from the previous quarter and 5% year-over-year. And what’s even worrisome is that cybercrime losses reached $12.8 billion in 2023 and are expected to hit $23.84 trillion by 2027.

    Undoubtedly, securing your business in today’s digital business landscape isn’t just about protecting against cyber threats — it’s about resilience.

    You can always fall for the latest threats since cybercriminals are becoming increasingly sophisticated while sneaking into business networks. Hence, you need a more robust cybersecurity plan backed by cyber resilience that goes beyond conventional cybersecurity strategy.

    Cyber resilience isn’t a buzzword; it’s a necessity and a proactive approach that goes beyond conventional security. It ensures your organization withstands and recovers from potential threats without much impact on your business.

    In a nutshell, cyber resilience is about building walls of protection and having the resilience to bounce back stronger.

    Let’s discover why embracing resilience should be a top priority for businesses to ensure continuity and future success in the ever-expanding cybersecurity landscape.

    Related: There’s No Margin for Error in Cybersecurity — Here’s How to Build a Strong Online Defense through Everyday Habits

    Why your business needs cyber resilience

    Cyber resilience is your organization’s ability to prevent, withstand and smoothly recover from various cybersecurity incidents. Cyber resilience isn’t about preventing cyberattacks — it’s about ensuring your organization can swiftly recover and continue to operate after an incident.

    Nobody can predict the next threat to your organization and customers, especially in an era where machine learning and artificial intelligence have broadened the horizons and increased threat vectors.

    Hence, a robust incident response plan is undeniably the need of the hour for businesses that are about to reinvent their cybersecurity posture.

    Remember, a cybersecurity strategy lacking a robust incident response plan is good for nothing since cybercriminals are already exploring new ways to target end users and customers to exploit their personal information and gain access to sensitive business details.

    On the other hand, cyber resilience not only ensures stringent cybersecurity against immediate threats but eventually mitigates long-term costs. Hence, investing in cyber resilience would surely safeguard your business from financial devastation and ensure smooth continuity.

    Now that we’ve learned about cyber resilience and its importance, let’s emphasize how you can incorporate it into your business.

    Related: 3 Reasons to Increase Your Cybersecurity Protocols in 2024

    Is your organization truly protected?

    Most businesses mistake cyber resilience for cybersecurity. However, they are pretty different and hold their own importance at different levels.

    Securing your organization against modern threats is crucial, but it’s also important to prepare for the worst. For example, you must have a plan to deal with a data or privacy breach.

    If you wish to protect your organization from the latest threats, your cybersecurity must include a comprehensive cyber resilience checklist.

    Whether it is regular audits, employee training, or advanced threat detection through technology, you must always be geared up to handle any cyber incident.

    Your cybersecurity checklist to supercharge your cyber resilience

    1. Regular security audits

    Scheduled audits are crucial to uncover potential threats and vulnerabilities before cybercriminals can exploit them. Addressing the issues well in advance can help you prepare a solid plan for the worst-case scenario and bounce back stronger.

    Here’s what you can do:

    • Look for outdated software: It’s crucial to check and update your defense software and firewalls since outdated software is more susceptible to ransomware attacks and other threats.
    • Incidence response drill: Organizing an incident response drill will help identify gaps in your communication protocol and eventually help you overcome the delayed response time during a cyberattack. Hence, scheduling quarterly incident response drills is crucial once you’ve completed the security audit.
    • Engage third-party experts: Involving third-party cybersecurity experts can provide an unbiased evaluation of your security measures and help create a robust cyber resilience program. Experts can uncover vulnerabilities your internal teams might overlook and help prepare an action response plan accordingly.

    2. Strengthening your human firewall through employee training and awareness programs

    Human error leads to cybersecurity breaches. Ensuring your employees are well-trained to handle any vulnerability is critical to building cyber resilience.

    • Regular training sessions: Regular training and updating your employees on the latest threat vectors and best practices are essential. Using real-world scenarios to illustrate various threats and their corresponding responses would shield your organization from potential threats and minimize losses during an unforeseen event.
    • Phishing simulations: Implementing phishing simulations to test your employees’ ability to recognize and respond to phishing attacks is crucial for safeguarding sensitive information. Using the results to identify improvement areas will help tailor training to minimize human error.
    • Clear policies and procedures: Establishing clear cybersecurity procedures and policies within your organization is crucial to building resilience. Ensure the policies are easily accessible and understood by everyone in the organization.

    3. Building a robust incident response team is your frontline defense

    A dedicated incident response team is all you need for swift and effective action during a cybersecurity incident. This will help minimize the impact, leading to fewer financial and reputational losses.

    • Define roles and responsibilities: You must clearly define roles and responsibilities for every team member regardless of their job title and experience. It’s crucial to ensure that everyone knows their duties and responsibilities promptly during an incident and the situation.
    • Invoke the potential of modern tools and technologies: Using threat intelligence tools, data encryption, multi-factor authentication (MFA), and Zero Trust architecture can reinforce your overall cybersecurity resilience program.
    • Continuous improvement: Conducting a thorough review to identify areas for improvement after every drill and incident. This will help you continuously update your incident response plan based on the recent findings.

    Final thoughts

    In this modern digital business landscape, the increasing cyber threats and sophistication of cybercriminals demand next-level security — cyber resilience.

    Cyber resilience is a vital strategy for businesses to ensure they stay up and running even in the event of a cyber incident and can quickly contain a breach without financial and reputational losses.

    Hence, embracing cyber resilience shouldn’t be a luxury; it must be an essential pillar of your cybersecurity foundation.

    Rakesh Soni

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  • 5 Financial Blind Spots That Could Be Preventing You From Making More Money | Entrepreneur

    5 Financial Blind Spots That Could Be Preventing You From Making More Money | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Money can often be the barrier between being stuck where you are or breaking through to the next level. This includes having or not having a budget, using it properly, hidden revenue or even misaligned goals — all of which influence your growth trajectory. These four common secrets have helped my company elevate our clients to the next level.

    1. Financial transparency for ROI

    The first blindspot we often notice with new clients is not having a clear reporting connection between your tools, like ads and a CRM like HubSpot, to see which channels drive the most significant return on investment (ROI). Do you know your best-performing channels? Or your best-performing piece of sales copy? What is the most opened document that leads to a closed deal?

    And we’re not just talking about marketing and sales; this applies to many connected platforms — for example, the closed-loop revenue or your ERP systems. When things are not connected, they are disjointed and siloed. You end up flying blind. Without connecting your marketing tools with your revenue tools, and with that being CRMs, finance platforms, or ERPs, to name a few, there is a disconnect, and the arms and legs end up moving in different directions.

    Here’s a simple example we see all the time: If you knew that one channel drove more deals by a 75% faster conversion rate, wouldn’t you invest more time and energy in that channel than one that only had a conversion rate of 10%? Many people don’t want to share the revenue numbers within the company, but all of that information informs the other departments; without sharing these revenue numbers, your money secret is keeping it in hidden silos.

    Related: I Hit $100 Million in Annual Revenue by Being More Transparent — Here Are the 3 Strategies That Helped Me Succeed

    2. Strategic investment for avoiding blind spots

    Another financial blindspot is not investing in marketing. We have had prospects come in with no budget and no internal marketing team, but we want to grow by 150% and spend a total of $1,000. I wish achieving growth like this was possible, but unfortunately, it’s not. The old adage that you get what you pay for, or it takes money to make money, speaks the truth. Your investment goals should match your growth goals. The amount of money invested should be measured not just by short-term, quick wins but also by looking at long-term investment to growth.

    You would never measure an HR department strictly on the number of hires. However, looking at the whole picture of longevity amongst many other important KPIs, You would not use an HR department for a few months. It is something that is constant and needs care and attention. Marketing is no different — if you strictly only measure marketing by the number of leads, you are missing out on the full picture. Marketing helps push leads through nurture campaigns, creates automation, leads scoring, builds new campaigns and tests, supports sales enablement activities and many other components. A buying cycle is rarely a straight line to click and buy unless we’re discussing Amazon.

    That said, everyone has budgets, margins and bumper lanes they need to stay in. I am by no means saying throw your budget to the wind, but your goal should match your budget. If you have modest growth goals, be realistic about the budget needed to get there. Set incremental micro goals but stay the course for long-term growth.

    Related: You Won’t Have a Strong Budget Until You Follow These 5 Tips

    3. Data-driven decisions to save money

    Another money secret that costs companies is spending without the data to back it. We had a company inquire about a new website, a full blow-up, new navigation, new content, new page layouts, migration onto a new CMS, a new theme and the works. They said they had a $75,000 budget for the whole project. In theory, it sounds great, right? Willing to invest? Check. Has a budget? Check. Know what they want the end result to be? Check. But when we asked them the next question, they looked at us like we were crazy, “Do you have data that backs the changes you are looking to make?” Are you running a tool like Hotjar to see real user data behind how these proposed changes will impact your existing inquiries and the only source the sales team was currently using for leads?

    The answer was no. When the heat map was overlaid, do you know what happened? Well, they were looking to build that new navigation out and replace the old one — nearly 90% of the traffic was going to two pages of their site directly from the navigation, both of which they had originally wanted to remove. In this case, it wasn’t just about having the money but also about making sure the decisions you make with the budget are informed by real data: user data, sales data, marketing data and more. The more informed you can be by closing the loop on your data, the better your end result will be.

    Related: Want to Be Better at Decision Making? Here are 5 Steps to Better Data-Driven Business Decisions

    4. Modern marketing channels to drive growth

    What is likely costing you the most is using old-school channels without the ability to measure. Companies have spent the last decade on traditional marketing channels and are switching to digital. The company’s historical growth has relied on things like trade shows, print, postcards and online magazines. We ask what the ROI you have seen by each channel is, and rarely can they share a specific revenue number and say it is for brand awareness. Some of the budgets can be over 50 to 100 thousand dollars spent on these traditional methods, but there is no ROI attached, yet they continue them.

    When the pandemic happened, we saw a massive influx in businesses shifting from once only boots on the ground to digital. The lockdown changed everything; there were no more trade shows, no more door knocking and no one picking up their mail or faxes daily. It made traditional selling channels challenging and obsolete and forced a new level of openness to try new ways to get the job done. In the example of running online magazine ads there are lots of ways to capture them, we can use UTM tracking, referral analysis or create a custom landing page for the offer and capture the leads directly. Without running them to a landing page or form, you rely only on the online publication for leads and analytics. We’ve had people show a list of just names, no emails to follow up with, or only show a random number of visitors to the page, not a single name. It’s important to know what they will provide for reporting and tracking when you publish or use traditional channels. The rule of thumb is to use connections and tools that leverage old-school methods into technology and not blindly spend on channels that cannot be measured.

    Stop wasting time, energy and revenue on these blind spots. They have easy solutions, so you can avoid them and focus on growing your business!

    Jennelle McGrath

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  • Why Saying ‘Yes’ to Everything Leads to Failure | Entrepreneur

    Why Saying ‘Yes’ to Everything Leads to Failure | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As people strive more and more for achievement, most of them become workaholics and get too involved. We all know how appealing it is to say “yes” to almost everything that comes your way because, who knows, you might get a promotion or be in the spotlight. However, this tendency often leads to a paradoxical outcome: failure.

    Now that we have examined the danger, let’s consider the following practical approaches to overcome it.

    Related: Overworked? Here Are 4 Easy Steps to Say ‘No’ and Stop Stressing.

    The illusion of infinite capacity

    At the heart of overcommitment lies a fundamental misconception: the understanding that the capacity for improvement is endless. It happens that we, as businesspeople and managers, think that we are capable of taking on more and more work. But in fact, time and energy are scarce goods that limit us in some way. It is important not to spread ourselves too thin across too many things, as this ultimately weakens our presence in everything we are involved in.

    The productivity paradox

    It is evident that doing more does not necessarily mean achieving more in this life. It is generally very unwise to engage in a lot of activities because this can have a very negative impact on productivity. Here’s why

    1. Decreased quality of work: Multitasking is usually characterized by decreased quality in the projects or tasks we have in our hands. We often work very fast, do not pay attention to the fine points and end up making errors. This not only affects the result but reputation as well.

    2. Increased stress and burnout: This is because overcommitment results in increased stress levels. Stress and feeling pressured to meet certain deadlines, for example, may lead to burnout and have adverse effects on the body and mind.

    3. Missed opportunities: When you are constantly agreeing to everything, you may not see any valuable opportunity coming. As we continue to be consumed with the low hanging fruits, our ability to capture the right opportunities is reduced.

    Consequences of not saying “NO”

    For instance, let’s consider a tech company called XYZ. The founder of XYZ startup may accept every invitation for a meeting, partnership and speaking engagement. First, this may appear as an effective way to develop the brand and expand the network. However, the founder is often left overwhelmed, struggling to manage and unable to adequately attend to the business.

    The product development cycle is slowed down, customer satisfaction levels decrease, and the overall growth of the company comes to a standstill in the end; the startup exits, not because there are no opportunities but because it cannot utilize them properly.

    Related: 8 Ways to Say ‘No’ So You Say ‘Yes’ to What Matters Most

    The art of saying “no”

    The ability to say “no” is essential for any manager to learn. It is not that one has to be unhelpful or discouraging — it means that one is smart enough to understand that he cannot do everything or be everywhere and do everything at any given time. Here are some tips that will guide you toward the realization of this noble goal.

    1. Define your priorities: First, analyze your needs and define your main aims and values. That way, you get a better perspective on the opportunities available according to your priorities and which ones do not meet your priority list.

    2. Evaluate the impact: First of all, one should determine how much that task is worth pursuing in terms of results that it can bring. Even if a study aligns with your research aims, will it move you forward substantially in achieving them? To analyze this, we need to decide whether it is worth the time and effort required. If the answer is no, it is most likely better to refuse whatever is offered.

    3. Set boundaries: Boundaries are important for ensuring that there is no interference with the progress of the work or goals to be accomplished. Be clear with the people around you, your team members, colleagues and partners when conveying your limits to them. Make the time you’re able and willing to be available for others clear, as well as the time when you have to focus on important things.

    4. Delegate wisely: It is not a rule that you have to do everything yourself. Try to transfer routine duties that can be performed by other people to them so that you will be able to focus only on the most important operations. Be confident in your people and give them full authority to do their work.

    5. Regularly review commitments: Try to analyze from time to time what you are busy with and what is really important and effective. Are those tasks aligned with your goals and purpose? If not, do not be afraid to go back and think about what you committed yourself to and perhaps alter the plans.

    Prioritizing effectively: The Eisenhower Matrix

    The Eisenhower Matrix is one of the most widely known and effective tools for sorting out tasks by their priorities. This basic framework allows you to sort tasks carefully due to their urgency and significance.

    1. Urgent and Important: Activities that are urgent and strategically relevant to your objectives and priorities. These should be your top priorities.

    2. Important but Not Urgent: Activities that are important for achieving long-term goals but do not need to be executed soon. Organize these tasks and ensure they have a time slot.

    3. Urgent but Not Important: Chores that need to be accomplished soon, yet will not contribute much to helping you achieve your objectives. If possible, these tasks should be delegated by the person in charge of the project.

    4. Not Urgent and Not Important: Activities that you think are not relevant to the achievement of your objectives. Avoid or reduce them to allow time for other, more significant chores.

    When using the Eisenhower Matrix, one is able to avoid getting lost in a plethora of things to do, which ultimately leads to overcommitment.

    Related: The Art of Ruthless Prioritization

    Lessons learned from my personal experience

    Reflecting on my own experience, I know how dire the consequences of overcommitment can be. In the earlier stage of my career, I used to think that the say-yes approach was the way to go. I became a participant and member of every project, meeting and invitation that I received. Before I knew it, I was submerged in distress and concerned about my ability to deliver high-quality papers. Some vital projects faced some slippages, while my efficiency took a massive hit.

    It took a little while to finally knuckle down and start prioritizing and know when to simply say “no.” Thus, I maintained high productivity rates by prioritizing the most critical activities, offloading assignments and defining expectations. This change not only benefited me in terms of effectiveness in the workplace but also the quality of the work produced as well as my personal health status.

    Overcommitment is something that often happens to many leaders and entrepreneurs. You need to learn what can go wrong if you are going to avoid the pitfalls and attain more success with proper prioritization.

    Chris Kille

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  • What to Do When Personal Values Clash With Business Decisions | Entrepreneur

    What to Do When Personal Values Clash With Business Decisions | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Do you remember the times you were at a crossroads, debating with yourself about a choice that challenged your personal values and your business objectives? You’re not alone. Most entrepreneurs experience this kind of strife, but not every entrepreneur will verbalize all of the conflicts.

    It is a sophisticated battleground with the lines between correct and wrong so fuzzy, and the choices you make can shape your history. In this article, I’ll share a few valuable tips you can use to navigate these situations.

    Related: How to Become the Leader You Envision Without Sacrificing Your Values

    1. Establish your core values

    Determining your core values is a prerequisite in facing ethical obstacles. As a leader, values like integrity, transparency and sustainability can be your guiding principles, which you set not only for yourself but also for your company. When these values are clear and communicated correctly, they become a beacon, helping decision-making processes to be simpler and well-managed. The unambiguousness of those values serves as a yardstick to which all company actions are compared, and thus, everybody in the organization knows what is expected of them.

    2. Understand the baggage right away

    One of the most important skills for any leader is to be able to tell when his/her personal beliefs are at odds with business decisions. A lot of times, the first indication of an ethical challenge is a feeling of discomfort. This unease is not just a matter of emotion; it is a sign of your conscience, which is telling you that your values are being compromised. Acknowledging it early on is a must for you because it gives you the time to analyze the situation carefully, and you won’t make any rash decisions. It gives you an opportunity to form a strategy that is in line with your moral values.

    3. Seek multiple perspectives

    Ethical problems frequently do not yield simple responses, and what looks right one way around may not appear to be so from another point of view. Therefore, seeking several points of view is necessary. Connect with mentors, friends or any group with different perceptions to have more diverse opinions. Such a process can disclose new insights and may even bring in solutions that you would have never thought of. Another key advantage is that it makes sure the decision-making process is not only based on one set of experiences and backgrounds, which helps prevent the risk of bias.

    4. Evaluate long-term impact

    It may be tempting for a moment, but these shortcuts have long-term effects. When faced with a decision, it’s important to ask yourself about the long-term impacts: What is the consequence of this choice on my business in the next five, ten and twenty years? Would it hurt my reputation or my relationship with other people? Such aspects are crucial because they facilitate the drive toward sustainable growth and the observance of ethical standards, which are usually the pillars of longevity.

    5. Create ethical safeguards

    To avoid ethical conflicts and have your decisions a posteriori, that is, consistent with your business ethics, put in place robust ethical safeguards in your business operations. This could be a part of the process of creating an ethics committee or establishing a decision framework that focuses on your core values. This way, ethical principles are practically accessible to everyone through the organization’s hierarchy, and every decision is subjected to ethical scrutiny.

    Related: Holding True to Your Values Is an Essential Decision-Making Metric

    6. Be honest and open with your team

    Transparency forms the basis for the establishment and strengthening of trust among team members. When an ethical crisis emerges, admitting the difficulties and how they might affect both personal and business values establishes a precedent of transparency and openness. Such honesty and openness will become a criterion for your enterprise culture. This is not just about trust building but also helping to develop a more engaged and ethically aware employee.

    7. Integrate ethics into your brand

    Nowadays, consumers are more and more inclined to buy from companies that have a code of ethics. Incorporating ethics into your brand’s storyline will make your business stand out and increase consumer confidence. This synergy builds a deeper connection with the audience because they believe that they are interacting with a brand that reflects their virtues.

    8. Get ready to make tough decisions

    Balancing personal ethics with business decisions sometimes demands making tough decisions. This might imply declining attractive chances or dissolving cooperation with efficient associates. These decisions are always hard, but they usually have to be done to preserve one’s integrity. The respect and loyalty gained from customers and employees in making these decisions can often far exceed the costs involved.

    9. Consider and memorize every decision

    Every decision is a learning experience. Analyzing the effectiveness of your choices — what worked, what didn’t and how you can improve — contributes to enhanced decision-making skills. Such a learning process is of utmost importance for more successful and confident dealings with future ethical issues.

    10. Lead by example

    Leadership is more about walking the talk than giving orders. Through constant decision-making that supports your ethical principles, you become an effective role model for your team. This leadership style not only cultivates an ethical positive climate but also inspires your team to uphold these standards in their own decision-making.

    Related: Here’s Why Values Matter So Much in Business

    It is not easy to navigate the dangerous waters where personal values and business decisions come together. Nonetheless, when you remain true to your core values, look for different opinions and consider making tough decisions, you can be assured that your business not only prospers but also contributes positively to the world around you.

    Do not forget that the purpose of your business is not only to be successful but also to create a business that will speak for your values. This approach does not merely resolve clashes; it turns them into opportunities for growth. Rely on your ethics, and you will build a better business world with more ethical and prosperous firms.

    Chris Kille

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  • Dr. Bronner’s CEO Salary Cap Based on Lowest Employee Wage | Entrepreneur

    Dr. Bronner’s CEO Salary Cap Based on Lowest Employee Wage | Entrepreneur

    Dr. Bronner’s estimates that a bottle of its soap is sold every two seconds — but the 150-year-old, family-owned business stands for more than just the products it puts on the shelves.

    A social media post from Dr. Bronner’s last week revealed an internal aspect of its business: the soapmaker limits the salary of its highest-paid executives to five times the lowest-paid, fully vested employee. (Fully vested means someone who is full-time and has been with the company for at least five years.)

    “An ethical company should pay a fair salary and good benefits and enable people to make ends meet on the wages they receive,” CEO David Bronner said, adding, “We’re really trying to set an example of just being reasonable.”

    Dr. Bronner’s 2023 earnings report details that the company generated over $170 million in revenue in 2022, with 86.7% of its sales conducted in the U.S. The soapmaker had 311 total U.S. employees and about 73% of its managers were promoted from within.

    Dr. Bronner’s starting pay for regular, non-temporary employees in 2022 was $24.85 per hour while temporary employee wages started at $21.30 an hour, per the report.

    If a full-time employee stayed at the 2022 starting pay for five years, on a forty-hour workweek schedule, they would make $47,712 per year.

    That would cap pay at the top of Dr. Bronner’s at $238,560, per Entrepreneur‘s calculations.

    Related: Here’s Why Most CEOs Don’t Take Pay Cuts to Avoid Layoffs

    The midpoint salary of a CEO last year was around $1.3 million — over five times the estimated salary of Dr. Bronner’s top-paid employee — according to a June study from the Associated Press.

    The study tracked CEO pay at S&P 500 companies and found that in half of the firms, “it would take the worker at the middle of the company’s pay scale almost 200 years to make what their CEO did.”

    The midpoint pay package for CEOs, factoring in salary, bonuses, and stock awards, was $16.3 million overall.

    Related: These CEOs Have the Biggest Pay Packages in the U.S., According to a New Report

    In addition to a salary cap, Dr. Bronner’s covers childcare up to $7,500 per family, offers a healthcare plan with no out-of-pocket costs, and provides employees with an organic, vegan meal every day.

    Anything the company has left over goes to charitable organizations and other causes. Bronner said in the Instagram video that he lives an “awesome” life and feels “enriched” by the joyful atmosphere in the office.

    Sherin Shibu

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  • How to Close the Trust Gap Between You and Your Team | Entrepreneur

    How to Close the Trust Gap Between You and Your Team | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    PwC has been tracking trust within workplace settings for years, but their most recent 2024 survey reveals a larger trust disconnect between leaders and employees than in the past. While 86% of executives say they trust their people, just 60% of workers feel trusted by their organizations. That means that for every 10 employees you manage, four doubt that you honestly have their backs.

    If this sounds alarming, you’re paying attention. Trust is an essential tool that can hold a company together through the good and bad times. When you have a steady stream of trust throughout your company, you’re poised to see higher performance levels and more creativity. Instead of playing it safe (which leads to playing it small), employees take pride in being trusted enough to innovate and think outside narrow job descriptions. With an added layer of trust, they can see the bigger vision and know their impact will be appreciated.

    Unfortunately, you can’t wave a magic wand and make trust appear. Trust isn’t a commodity. It can’t be bought or sold. It must be earned, and that means you need the courage to make some shifts in your leadership style to close any trust gaps between you and your team.

    Related: Strong Leaders Use These 4 Strategies to Build Trust in Their Workplace

    1. Retool your hiring process

    First, do something that sounds simple but isn’t: Take hiring seriously. The tighter your selection process for all positions, the easier it will be to develop trust with the people you onboard. It’s exceptionally difficult to build trust with someone who is the wrong fit for your business goals or doesn’t value people. By making your hiring process more robust, you send a message that your team is significant, select and special. That’s a foundation for future trust.

    As part of your revised hiring process, involve your team in the experience. The unknown is a big barrier to trust. Empowering your people to help make hiring decisions reduces the friction that can come when an “outsider” is brought into the mix. Have them conduct group and individual interviews, review resumes and participate in hiring simulations for final candidates. Ask for their input. In no time, you’ll transform the “new person” into someone who’s been invited to join the team by the team.

    2. Invest time in building genuine relationships

    After you’ve hired someone, kick off your relationship on a trust-building note. Sit down and talk about your expectations. As an executive, I’ve learned to ask specific questions to gain trust.

    • How will we work together?

    • What does trust and respect look like in a working relationship?

    • What do you expect of me as your boss?

    • How should we handle inevitable differences of opinion?

    By asking these questions — and truly listening to the answers — you’ll set the stage right away for free-flowing, authentic discussions built around mutual respect and understanding. It also makes it easier to share your expectations for how they show up at work.

    This effort will pay off down the road, especially during rocky moments. In the past, I’ve had to let team members go. Rather than ignoring the elephant in the room, I sit everyone down together afterward. I find out how they’re feeling. Usually, no one talks about those types of things. Our team can because we have strong relationships with each other, making it easier to take a pulse and hear everyone’s perspectives.

    Related: How to Build and Sustain Deep, Meaningful Business Relationships (and Why It’s the Key to Long-Lasting Success)

    3. Strengthen your leadership tendencies

    All leaders can get better. The sooner you recognize any tendencies or habits you have that are leading others to distrust you, the sooner you can stop them. For instance, is your first reaction to a problem assuming control, micromanaging or taking over? Do you resist sharing information because you stress about freaking out your team? These are understandable reactions, but they’re not going to foster trust.

    Now, you may say that you’re just “following orders” or that your company’s hierarchy is militant and structured. That’s not uncommon, although it’s very old-school. However, when you keep people in the dark, you instill fear and inadvertently minimize people’s potential contributions. Conversely, when you trust your team with the truth, you open the doors to better communication and a high-performing culture. And you can do this regardless of what your company does, at least to a certain degree.

    4. Use tech to grow — not destroy — trust

    The latest tech tools can be used to both fuel and hinder trust. It all boils down to how, when and why you introduce and use them. For instance, I recommend talking with your team before bringing in any new tech. When you chat about it first, you’re not just unilaterally forcing your team to use a tech they might not find beneficial. Ideally, tech should simplify everyone’s work experience, not make their lives harder.

    What about monitoring software? It’s a losing battle. When you’re monitoring folks, you’re saying, “I don’t trust you” and “I care more about time than outcomes.” Your employees will resent this and may even find loopholes to game your monitoring system. I know of a remote worker who put her mouse in her pocket and did errands. The mouse jiggled as if she were at her desk, and her bosses never knew. Ingenious. If she was getting work done, why should she be monitored like a child? Ultimately, it all comes back to trusting your team members and giving them the room to do their jobs as expected.

    Related: The Biggest Obstacle Facing Leaders Is Distrust. Here’s How to Build Confidence in Your Team.

    5. Rethink your assumptions about people

    You can’t do it all. No one can. You have to count on others, and that means you have to value and trust employees. It’s okay if you wouldn’t trust them to babysit your kids while you go on a date night. However, you must trust them to take pride in their work and perform their job well once fully trained. Where to start? Try pushing responsibilities to your team.

    In one of our workshops, a participant realized she was too “in the weeds” and didn’t have time to lead. When she returned to work, she pulled her small team into a meeting. She said, “These are the things that need to get done. I want you guys to work out how to make everything happen. Let me know what you’ll need from me.” Within a couple of hours, they had divided the work between them based on their aptitudes and preferences. From there, everything went smoothly. The leader was surprised (and relieved) by how well the experiment worked.

    You may trust your team, but if you’re not filtering your actions through a trust filter, you’re probably missing major trust-building opportunities. By switching up a few of your leadership strategies, you can demonstrate your unwavering trust, which will help clear the way for your trust to be reciprocated.

    Gloria St. Martin-Lowry

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  • How to Create Effective Recognition Programs for Startup Founders | Entrepreneur

    How to Create Effective Recognition Programs for Startup Founders | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In the bustling world of startups, the concept of “sweat equity” often buzzes in the background, unrecognized yet vital. Founders pour their time, expertise and relentless energy into building their ventures from the ground up. While financial investments are typically acknowledged and rewarded, the non-financial contributions — or sweat equity — of these entrepreneurs are just as crucial for success but often go unnoticed.

    The recent surge in tech layoffs and its impact on the startup ecosystem is a testament to sweat equity. In 2024, the tech industry has experienced a significant wave of layoffs, with 60,000 job cuts across 254 companies, including major players like Tesla, Amazon and Google. This development highlights the precarious nature of tech and startup employment, underscoring the importance of acknowledging and valuing the non-financial investments that founders make in their startups.

    Additionally, Microsoft’s recent initiatives, such as the Startups Founders Hub, demonstrate a growing recognition of the challenges founders face and the support they require. This program provides up to $150,000 in Azure credits to help founders develop their startups without heavy initial investments, emphasizing the value of supporting the non-financial contributions that drive innovation.

    Related: How Startups Can Boost Team Morale and Drive Success Through Recognition

    Understanding (and recognizing) sweat equity

    Sweat equity is not just about the number of hours logged; it encompasses all the non-financial investments founders make in their startups. This includes the late nights, the strategic decisions made in the wee hours of the morning, the continuous learning and adapting, and the personal sacrifices. According to a study by the Kauffman Foundation, over 80% of startups are bootstrapped, which means founders are both chief executives and chief investors of their time and skills.

    Recognizing the immense value of sweat equity is a strategic move. A survey conducted by Gallup and Workhuman found that companies with high employee recognition levels are 20 times more likely to be engaged as employees who receive poor recognition. When founders feel valued for their non-financial contributions, it boosts their morale and loyalty, directly influencing their enthusiasm and commitment to the venture. Recognizing these efforts fosters an environment where the intrinsic rewards of entrepreneurship are celebrated alongside the financial gains.

    Creating a recognition program for founders should not be a one-size-fits-all approach. It should be as unique as the startup itself, reflecting its culture and growth stage. For instance, a tech company might recognize breakthrough innovations with annual corporate awards, while a social enterprise might highlight efforts toward social impact. Buffer, a social media management tool well-known for its transparency, extends this value into recognizing its founders by openly sharing the challenges and successes in their monthly blogs, which not only recognizes the founders’ efforts but also engages the community in their journey.

    Related: From Launch to Succession: Tips for Building a Thriving Business

    How to pump up your recognition efforts

    By integrating a few detailed action steps and leveraging insights from successful companies, you can create a robust recognition program that acknowledges the hard work of founders while driving your startup toward greater success and cohesion. Consider the following:

    1. Assess current recognition practices:

    Before crafting a new recognition program, conduct a thorough assessment of existing practices within your startup. According to a Gallup study, only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days. This highlights a significant gap in recognition at many organizations. Start by surveying founders and key stakeholders to understand what is currently working and what isn’t. This initial feedback will serve as a baseline for developing a more impactful recognition strategy.

    2. Develop personalized programs aligned with values:

    Personalization is key in recognition programs. A study by Deloitte found that organizations with high-performing recognition practices are 12 times more likely to have strong business outcomes. Take inspiration from companies like Zappos, which tailors recognition strategies to match its corporate values and unique culture. For instance, Zappos offers “Co-Worker Bonus Programs” where employees can award each other monetary bonuses for going above and beyond. Aligning the program with your startup’s values ensures it resonates well with the founders and reinforces the behaviors that are critical to your startup’s success.

    3. Foster peer recognition and celebrate achievements:

    Peer recognition can significantly enhance workplace morale and productivity. A report from SHRM/Globoforce found that peer-to-peer recognition is 35.7% more likely to have a positive impact on financial results than manager-only recognition. Encourage a culture where founders and team members frequently acknowledge each other’s efforts. This can be facilitated through platforms like Bonusly, where employees can give each other micro-bonuses that add up to meaningful rewards. Celebrating achievements, big and small, ensures ongoing motivation and engagement.

    4. Continuously evaluate and adapt recognition efforts:

    Effective recognition programs require ongoing evaluation to stay relevant and impactful. Regularly gather feedback through surveys, focus groups and one-on-one interviews to understand the effectiveness of your recognition efforts. Companies like Salesforce exemplify this approach through their “V2MOM” (Vision, Values, Methods, Obstacles, and Measures) process, which involves continuous feedback and goal alignment across the company. This method ensures that all team members, including founders, are aligned and can contribute to the evolution of recognition efforts. By maintaining a dynamic feedback loop, you can make data-driven adjustments to the program, ensuring it evolves with your startup’s needs and continues to motivate and inspire your team.

    Related: The Psychological Impact of Recognition on Employee Motivation and Engagement — 3 Key Insights for Leaders

    By using such a dynamic and inclusive approach, startups can ensure their recognition programs remain effective and responsive to the needs of their founders and team members.

    Developing a founders’ recognition program is about nurturing a culture that values each drop of sweat that goes into a startup. Such a culture accelerates growth and cements a foundation of loyalty and mutual respect that can endure the challenges typical of the startup world. As startups continue to evolve, the recognition of every contribution, financial or otherwise, will remain a cornerstone of sustainable success.

    Mike Szczesny

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  • 5 Steps to Preparing an Engaging Industry Presentation | Entrepreneur

    5 Steps to Preparing an Engaging Industry Presentation | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Industry events are a chance to network with your colleagues and impress distributors — but to really make the most of your time at a conference, you need to learn how to prepare a presentation that engages, informs and leaves an impact.

    I’ve presented at some of the most important real estate and property technology events in the country as the founder of ButterflyMX. Here are a few tricks I’ve picked up along the way to wow any audience.

    Related: 6 Tips for Making a Winning Business Presentation

    1. Getting comfortable with the stage

    I recommend taking a walk around the stage before your presentation. By familiarizing yourself with your environment, you can prepare yourself better.

    And while you’re on stage, a relaxed, comfortable presence goes a long way in keeping your audience engaged. Whether you want to play your presentation casually or more formally, audiences can sense discomfort, which prevents them from fully connecting with your message.

    To project your sense of comfortability, focus on your body language. You can project confidence by speaking slowly and clearly and by walking across the stage to keep the audience’s attention — even if there’s already a podium or lectern set up on stage.

    Unfortunately, if a speaker spends too long standing behind the podium, an audience might interpret that as a sign of indecision and inaction from the speaker. Instead, you can remove any barriers between yourself and the audience by using the whole length of the stage.

    2. Familiarity with industry statistics

    An audience that doesn’t know me might be wondering why they should be taking my advice. I certainly don’t blame them. When I’m watching a new presenter, I ask the same question.

    If you can back up your claims with hard data, your presentation will ring true with listeners. You can cite industry-wide statistics or establish your own bona fides by citing stats that buttress your own credibility by establishing your company’s success.

    In my case, I’m happy to use a couple of statistics that prove how successful my company, ButterflyMX, is in the proptech industry. For instance, we serve more than one million apartment units, and if you’re interested in how consumers feel about us, look no further than the internet — we have over 20,000 five-star reviews!

    Related: 7 Ways to Captivate Any Audience

    3. Knowing your audience

    Depending on who your audience is, you’ll have to adjust your game plan and prepare for different things.

    I’ve spoken at conferences where the audiences couldn’t be more different — a presentation that wows one crowd might have no information that’s applicable to another. As the founder of a property technology company, I have the pleasure of speaking at a variety of different conferences that serve different markets.

    For example, integrators and installers might value a talk on product features and hardware more than others. And if I’m presenting to an audience of property managers, I’ll know to dial down the technical talk and focus on the benefits a robust video intercom offers, such as simplifying their day-to-day workloads.

    Depending on your audience, you need to strike the right balance between talking about hardware specs and features.

    4. Designing your slides carefully

    Slides are a good opportunity to share the aesthetics, tone and values of your company — but you’ve got to make sure you use them effectively.

    A slide with too much text looks busy, and it’ll distract your audience and draw focus away from you. Instead, consider putting that information into your notes and speaking it aloud. Slides should focus on one or two visual elements, like bullet points, charts and graphs.

    As for the actual design of your slides, you should ensure that you adhere to your company’s brand guidelines. If you’re unfamiliar with the concept, brand guidelines are a single, governing document that goes over important design concepts like the colors and logos that your company has.

    Related: 6 Ways to Take Your Next Presentation to the Next Level

    5. Asking for audience participation

    Asking for audience participation is the ultimate way to ensure everybody is locked in and paying attention — but it’s also a double-edged sword. You also need to be prepared in case asking the audience to participate doesn’t necessarily go your way.

    For example, you might generally ask if an audience has any questions at the end of your presentation. But you run the risk of running into a hostile, bad-faith question — or you might even be met with silence.

    That’s why I’d recommend you give the audience questions and tasks that have a little more structure. You could do things like asking for a show of hands, asking for specific anecdotes or taking a poll.

    Polls have gotten an especially high-tech upgrade recently — see if you can set up an electronic voting system that allows audience members to vote with their smartphones. Then, you’d be able to throw the results on screen and watch them update in real time!

    You should pepper these interactive sections throughout your presentation to ensure that audiences are engaged throughout your entire talk.

    Cyrus Claffey

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  • 5 Tips on Building Strategic Alliances for Business Growth | Entrepreneur

    5 Tips on Building Strategic Alliances for Business Growth | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As an entrepreneur, it’s you against the world. Or, at least that’s how it often feels being a small business owner, especially a solopreneur. Here’s the reality: Success is rarely achieved in isolation. The most successful business people understand that the power of connecting with others is the key to unlocking new opportunities and growth.

    Surrounding yourself with professionals, business owners and industry leaders can provide a myriad of opportunities to access resources, gain knowledge and build strategic partnerships. Let’s look at some best practices to build an effective network to support the growth of your business.

    Related: 4 Reasons Why Networking Is a Must for All Successful Entrepreneurs

    1. Lead with value first

    The most successful networks work because both parties have the opportunity to benefit from one another. Establishing a strong, reciprocal relationship from the outset is crucial. Instead of focusing solely on what you can gain, prioritize what you can offer to others.

    Providing value can take many forms, such as making introductions within your network, sharing industry insights or offering assistance with specific challenges where you have expertise. By consistently offering value, you can build trust and goodwill, which in turn makes others more inclined to support and help you.

    2. Connect with complementary partners

    When building networks, it’s important to carefully consider what types of relationships would bring the most value to your business. In many cases, the right people are the ones that offer different, but complementary services. For example, a tax accountant might want to build a relationship with an estate attorney.

    There are a few benefits to this approach. One, both individuals get the benefit of being able to access expanded knowledge related to their business. This relationship can also be an excellent source of referrals from the other’s client base. This is important for business growth since B2B referrals statistically have a 71% higher conversion rate.

    Related: Effective Networking Requires Mastering These 5 Skills

    3. Be selective about who you let into your circle

    Fostering relationships takes a lot of time and effort, so it’s essential to be selective about who you include in your network. Studies have shown that half of all people struggle to maintain long-term contact with their professional networks. By limiting the number of people in your circle, you can dedicate more time to building strong, meaningful relationships with each individual.

    Additionally, it’s important to avoid associating yourself or your business with individuals who have a negative reputation, as their actions could harm your own reputation, despite any access or benefits they might offer. This approach isn’t about being pretentious, but rather about valuing your time and ensuring that your network is built on trust and mutual respect.

    4. Look within your industry

    While finding complementary members to add to your network is helpful, many entrepreneurs tend to lack focus. It’s natural to want to avoid others in your industry, as there may be some conflict of interest. However, it’s important to build relationships with individuals who totally understand your business, and that will be people who have similar businesses. Look to those in the same industry, but with a slightly different business focus, a different target customer or a different geography.

    5. Participate in a business advisory board

    Participating in a business (or peer) advisory board is a valuable way to learn new skills and share the burdens that come with operating a small business. These boards provide a platform for entrepreneurs and business leaders to share their concerns and frustrations and also receive feedback or advice based on others’ past experiences. This collaborative environment fosters learning and problem-solving, helping you navigate challenges more effectively in a safe environment.

    Related: Want to Succeed as an Entrepreneur? Discover the Key to Building Long-Lasting Connections

    Networking is more than just a passive activity. It’s a strategic investment in the future of your business. At the end of the day, the amount of effort you decide to put into building and nurturing strategic relationships can yield substantial returns for your business.

    Building the right network isn’t always easy, especially as entrepreneurs and small business owners struggle to keep their heads above water on a daily basis. Having a professional business coach can be an invaluable asset in your networking journey. Coaches can help provide guidance as you navigate the complexities of networking and also provide introductions to influential contacts within their networks.

    Nicholas Leighton

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  • How to Attract Freelancers Back to Traditional Roles | Entrepreneur

    How to Attract Freelancers Back to Traditional Roles | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In recent years, the labor market has witnessed a profound transformation, called the “Great Resignation,” where record numbers of employees left their jobs in search of something more fulfilling. Many individuals now choose the path of freelancing and independent work over traditional employment. This shift is largely fueled by a quest for flexibility, autonomy and the pursuit of work that resonates on a personal level.

    Technology has played a pivotal role in this transition, making it easier than ever for individuals to find freelance work, manage projects and communicate with clients from anywhere in the world. This digital revolution, combined with a growing cultural emphasis on work-life balance and meaningful employment, has made the freelance lifestyle more attractive and feasible.

    However, the allure of independence doesn’t just hinge on being one’s own boss or setting one’s hours. Many are drawn to freelance work because of the severe mismatches they perceive in traditional job environments, which often lack flexibility, fail to offer compelling career paths or neglect to align with modern values like sustainability and inclusivity.

    Related: From the Great Resignation to Quiet Quitting, Here’s Why Good People are Really Leaving and How to Keep Them.

    Strategies to attract independent talent back to traditional work

    As the landscape of work undergoes its most significant transformation in decades, traditional businesses must innovate not just to survive but to thrive. Here are several strategies that can help re-attract independent workers:

    1. Flexibility and autonomy: One of the most cherished aspects of freelance life is the ability to control one’s schedule and work environment. Traditional companies can appeal to this need by offering flexible working arrangements. This might include options for remote work, flexible hours and results-oriented performance metrics instead of strict clocking in and out. For example, a tech company could implement a “results-only work environment” (ROWE) where employees are judged solely on their output and not when or where they complete their work.

    2. Project-based roles: Many freelancers enjoy the diversity of working on different projects, which keeps their daily routines dynamic and engaging. Companies can capture this interest by creating project-based roles or temporary positions that allow workers to contribute to specific initiatives with a clear end date. This approach not only satisfies the worker’s need for variety but also gives companies the flexibility to scale labor up or down based on current needs.

    3. Cultural alignment and values: Modern workers, particularly millennials and Gen Z, are increasingly drawn to companies that reflect their personal values. Businesses that prioritize sustainability, diversity, equity and inclusion are more likely to attract independent talent who are looking for more than just a paycheck. Publicizing initiatives and real impacts in these areas can make a traditional employment setting more appealing. For instance, a company might highlight its commitment to reducing carbon emissions or its active role in supporting local communities.

    4. Professional development and career growth: Freelancers often invest in their own skill development to stay competitive. Companies that offer robust training programs, regular workshops and opportunities for career advancement can draw independents back into the fold. Highlighting a commitment to employee growth can assure potential hires that they will not stagnate but continue to develop professionally. An organization might, for example, offer an annual stipend for employees to attend conferences or take courses relevant to their jobs.

    Related: “No One Wants To Work Anymore” Is a Phrase Old as Dirt. Here’s How to Really Attract and Retain Employees in the New Age of Work

    Benefits to companies and workers

    The integration of independent talent back into traditional companies offers substantial benefits to both parties:

    Increased innovation and creativity: Independent workers often bring fresh perspectives and innovative ideas gained from diverse project experiences. By incorporating these freelancers into their workforce, companies can foster a more creative environment, driving innovation. For instance, Google has leveraged independent contractors for various projects to inject new ideas and approaches, which has often led to breakthroughs in technology and user experience.

    Flexibility and scalability: The ability to scale workforce capabilities up or down depending on project demands is a significant advantage for companies facing fluctuating market conditions. Freelancers provide a flexible labor pool that can be tapped into as needed, reducing the overhead associated with permanent staff while still meeting business goals.

    Diversity of thought and skills: Freelancers typically work across a range of industries and disciplines, bringing a wealth of diverse skills and viewpoints that can enhance problem-solving and decision-making within traditional firms. This diversity can lead to better outcomes and a more resilient business model.

    Enhanced employee satisfaction and retention: By adopting flexible work policies and valuing professional growth, companies can improve overall job satisfaction among all employees, not just freelancers. This can lead to higher retention rates and a more engaged workforce.

    As the fabric of the workforce evolves into a mosaic of traditional employment, freelancing and independent contracting, businesses stand at a pivotal crossroads. The phenomenon known as the “Great Resignation” signifies a deeper, underlying shift — a redefinition of what it means to work and to be fulfilled by one’s labor. This is not just a trend but a transformation in the ethos of work itself, driven by a generation that seeks purpose, autonomy and flexibility.

    Related: The Best Employees Want More Than Just Money. Here Are 6 Ways to Attract Them.

    Adapting to this new reality requires more than superficial changes; it demands a fundamental rethink of how businesses structure work, engage with employees and define their corporate culture. Strategies like enhancing workplace flexibility, embracing project-based roles, aligning organizational values with those of a changing workforce and fostering continuous professional development are vital. Yet, they are merely the starting point of a broader dialogue about work in the 21st century.

    As business leaders, it is imperative to challenge the status quo and critically assess whether your current practices meet the needs of a diverse and evolving workforce. Engage in conversations with both your teams and independent professionals to understand their perspectives and needs. Implementing the discussed strategies should not be seen as a checklist to complete but as part of a larger, ongoing process of organizational transformation.

    Explore collaborative models that benefit both your company and the independent talent. Such models should not only attract but also sustain a relationship that nurtures mutual growth, innovation and respect. The future of work isn’t about choosing between traditional and independent paths but about creating an ecosystem where both can thrive together.

    Tyler King

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  • 4 Common Blunders Companies Make When Creating Culture | Entrepreneur

    4 Common Blunders Companies Make When Creating Culture | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    It’s no secret that every successful company needs a solid, identifiable corporate culture. Statistics show that 88% of job seekers believe a healthy work culture is essential for success, and the younger generations now prioritize “culture fit” above all else when job hunting. Unsurprisingly, a strong corporate culture that keeps employees engaged directly translates to as much as a 202% performance increase.

    With such compelling data, it’s shocking how often startups fail in this regard. As a successful CEO and cofounder, here are four common mistakes I’ve seen and how to avoid them in your startup journey.

    Related: Lack of Trust — What Does It Do to Your Company?

    1. Not knowing when to transition from the “tribe” stage and into more structured processes

    My company, Flowwow, is currently in that awkward “preteen” phase where we’re no longer a startup “tribe” but not yet a large corporation. This creates tension because those who have been around since the beginning often romanticize “the good old days” and resist implementing more structured processes.

    Because this is often a challenging phase for brands, many cling to the “startup family” model of everyone doing everything for too long. This can hurt morale, motivation and long-term growth and heighten the risk of a brand stalling out at a critical stage. We tried to avoid this mistake by ensuring our overall mission was tightly aligned with the values shared by every person we hire.

    We ensure everyone feels supported and heard, confirming that everyone understands our flexible and adaptable processes. We also help place each person into a team that best suits their skills and personality so they feel useful, fulfilled and engaged. Remember that the data shows 85% of employees feel disengaged, yet 69% say all they need to feel happier and engaged is acknowledgment and recognition.

    2. Not allowing your culture to evolve with the brand

    Some camps believe brands should stay consistent over time, but we think that evolution according to the market and trends is far better for overall longevity.

    Remember: as your brand grows and matures, so should your corporate culture. As a founder, it’s your job to shift internal and external perceptions about your brand during these transitional times. Your core values should remain the same, but how you act on them makes the difference.

    For instance, when Flowwow shifted from a flower service to a gifting marketplace model, the founder’s job was to not only reframe public messaging but ensure we were highlighting the things most important to us as a brand: openness, transparency and quality.

    By making this our focus, we didn’t need to do anything specific to steer our culture; it naturally evolved from authentically shared values. These principles have remained steady over time, but our “value-driven” actions are more tangible: We provide resources like language learning, mental health assistance and medical insurance to show the team that our values are more than words.

    Related: How to Lead With Transparency In Times of Uncertainty

    3. Neglecting to establish top-down communication

    I’ve heard of many startups that have failed or floundered because the founding team felt they needed to hide hardships or only tell employees what they felt was “necessary.” Often, this is done with good intentions. They mistakenly think it will demotivate or alarm employees to hear about a crisis or difficult road ahead. Don’t fall into this trap! You hired these people because you trust and believe in them, so prove it by being transparent and allowing them to support you and each other.

    When management offers open communication lines, employees feel empowered to take responsibility, bring fresh ideas and make decisions in the brand’s best interests. HBR notes that good communication from senior leadership is a top driver for employee engagement.

    4. Forgetting that the founder is the heart and soul of the brand

    Founders often fall into the trap of playing Superman (or woman): They feel like they need to be involved in everything all the time, usually at the expense of their well-being. Initially, this might be necessary, but a founder’s top goal should be to find and cultivate a core team that can be trusted to take over most of the daily tasks.

    A strong, compelling corporate culture needs an axis on which to turn, and that axis should be the founder. Instill your values into every person you hire, and then let all the things that made you want to hire them shine through. Use your influence and passion to improve, amplify and direct the company. By acting as your team’s safe, trusted harbor, you allow your corporate culture to blossom organically, resonating with both employees and customers.

    It’s vital to avoid letting yourself burn out. You are an example for everyone, so it’s your job to pay attention to your mental well-being and continually work on understanding and managing your emotional impulses. Acknowledge your limits, act within them and let your team see that you’re human. This sets the foundation for a healthy, honest atmosphere.

    Related: How Being Transparent Helps Scale Your Company

    The future of work is now, so don’t let your culture lag behind

    Corporate culture is essential to present and future organizational health and longevity. Watch factors like absenteeism, participation and even body language to get a complete picture of whether your brand’s atmosphere needs work. Remember, a healthy organization balances stability and growth, and lasting improvements must always be top-down.

    Slava Bogdan

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  • 7 Ways to Empower Mothers in the Workplace | Entrepreneur

    7 Ways to Empower Mothers in the Workplace | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Empowering mothers in the workplace takes a thoughtful and multifaceted approach. Today, women in most households still bear the brunt of the majority of familial and household responsibilities while also working full-time. It’s unfair — and saying that it’s a lot to juggle and have on your plate is an understatement. The reality is that moms are expected to be everything both at home and at work, and that can be incredibly difficult and daunting physically, mentally and emotionally.

    As a mother and entrepreneur myself, finding ways to elevate the mothers at my own company and create a culture that truly fosters work-life balance has been paramount from day one. Since starting ZenToes in 2015, I’ve grown my own family, hired an incredible team of women who have done the same and managed, with the help of my team, to grow Zentoes into a multimillion-dollar business.

    While seeing your business’ success demonstrated through metrics and revenue growth is amazing, what’s been most rewarding is witnessing how dedicated our incredible team of employees is to grow with us. Below, I’ve outlined seven tips for other entrepreneurs looking to empower their employees.

    1. Have flexible hours and work arrangements

    Remote work options are critical in helping to ensure flexibility in schedules for moms to balance family responsibilities, including everything from pickups and drop-offs to sick days at home with the kids. They’ll also create happier attitudes towards work overall.

    Related: Want to Be More Productive as a Working Mom? Try These Steps

    2. Put women in leadership positions

    Having women in leadership positions is crucial to creating mentorship opportunities and fostering the next wave of leaders. Creating opportunities for other women in the workplace helps elevate all women.

    Related: Why I Hire and Invest in Working Moms

    3. Support professional development

    We believe strongly in not doubting the gaps in some women’s resumes from staying home with young children. Parenting can be a huge learning curve for people management. It’s also important to offer professional development opportunities specifically to help mothers feel confident in the time they are out of the workforce.

    4. Encourage work-life balance

    Prioritize having open and honest conversations with employees around ‘mom guilt’ and the need to ‘do it all.’ Employees will both feel happier and perform better when they feel at ease and balanced in their personal and professional lives. To us, it’s essential to create space for women who have families or are planning to have families to be able to take the time they need to feel successful in both work and family life.

    5. Ensure redundancies to cover leave

    This applies to both sides of the parental relationship! At my company, our small, scrappy team has had to identify and build redundancies to ensure the work still moves forward, and we’re not without coverage while a parent is out on leave. Documenting SOPs and having collaborative decision-making processes have been instrumental in ensuring our success.

    6. Allowing for social outlets at work

    It’s beneficial to have casual, weekly team-building meetings that cover social topics that allow for group sharing amongst our employees. It’s a moment for everyone not to be focused on just work or just their families and be able to share about themselves as individuals.

    Related: What Working Moms at Your Company Really Need This Mother’s Day

    7. Don’t forget about the partners on the other side of these working mothers

    Offer the same benefits to both partners in a family unit – flexible hours, work redundancies, etc – to normalize and allow partners to be more equal at home. If they have the same flexibility, there should be a correlation in the undertaking of responsibilities – lending well to supporting a more equal future. In my household, my husband taking a fair share of the household load has been instrumental in making ZenToes a success.

    Entrepreneurs should approach creating work policies, arrangements, benefits and team-building initiatives holistically, paying particular attention to the diverse needs of all employees, especially moms. Ultimately, moms are an incredibly valuable part of any business team, bringing vision and a uniquely thoughtful perspective to their work each day. Allowing for balance, honesty and communication is critical. Your company and all your employees will be better off with it.

    Sarah Parks

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  • More Companies Are Rushing to Hire A Chief AI Officer — But Do You Need One? Here’s What You Need to Know. | Entrepreneur

    More Companies Are Rushing to Hire A Chief AI Officer — But Do You Need One? Here’s What You Need to Know. | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    This spring, the U.S. government took an unprecedented step: requiring every U.S. agency to appoint a chief AI officer. This follows on the heels of companies across diverse industries adding similar roles to their leadership ranks.

    This is a move in the right direction for companies seeking to integrate AI, but it’s not enough on its own. Yes, every company must become an AI company. But expecting a chief AI officer to get the job done alone is shortsighted.

    When businesses are confronted with a major technological shift, often their knee-jerk reaction is to stick with what they know: Putting a new executive in charge and hoping they can solve everything. But for AI to truly take root in a company, people at all levels of the business need to get their hands on it and start innovating, not follow orders from a gatekeeper in the C-suite.

    In fact, the fastest way to integrate AI into a company, in some instances, maybe to skip the chief AI officer role altogether.

    Related: The Future Founder’s Guide to Artificial Intelligence

    Why having a chief AI officer might not make sense

    Companies appointing a chief AI officer have good intentions as they seek to avoid getting disrupted by the technology. But they may not need this role, and any business adding it should assume that it’s temporary.

    A useful comparison is the stampede in the middle of the last decade to appoint chief digital officers to oversee the digital transformation to internet and mobile technologies. In hindsight, that looks quaint.

    Experts pronounced CDO the next big executive title, but it often turned out to be little more than window dressing — especially when digital skills became table stakes for most employees. In recent years, companies have been ditching the role or folding it into other jobs. In digitally native businesses, it doesn’t exist at all.

    Google, for instance, never had a CDO directing how employees use web technology. Instead, they empowered employees to explore tools on their own through initiatives like 20% time, setting the stage for innovations such as Gmail.

    Likewise, AI-native companies don’t have an executive overseeing AI. That would be redundant. At companies like mine, the technology is embedded from day one across the organization rather than siloed in a single role.

    By default, we all leverage AI. Our marketing team uses it to better understand our customer base, our engineers deploy it to help write code, and our customer support leans heavily on AI agents. AI is written into every role, much like digital literacy now is at nearly all companies. Of course, there are areas of our business where we could use AI more and better, but making that happen doesn’t call for a specific job title. It’s everyone’s responsibility.

    A better way to usher in an AI transformation

    But I realize that not every company is built from the ground up on AI. So, how can legacy companies make real strides in integrating the technology?

    In place of the top-down response to organizational change, consider a bottom-up approach. For a company that wants to usher in an AI transformation, the first step is to look across the roles you’re already hiring for and pick a few where AI agents can do the job today.

    Customer service is an obvious place to start — today’s AI agents can now address most issues at least as well as humans. AI sales development representatives (SDRs) are also making an immediate impact, automating much of the toil involved in pursuing prospects. Another promising area — junior data analyst roles, which often consist of pulling information from reports. Then there’s coding. Autonomous software engineering agent Devin and OpenDevin, its open-source rival, can step in here.

    Choosing the right technology partner to provide AI tools is equally important. When it comes to customer service, for example, companies should look for a vendor whose AI agents have a track record of resolving most issues without human intervention. Rather than following a script, they should have some ability to reason, drawing on past interactions and the conversation at hand to determine the best solution for each customer’s unique problem.

    Then, it’s important to treat your agents more like employees than like a piece of software that will work straight out of the box. Onboarding, measuring and coaching — the same steps you’d take to develop any new hire — are essential to get the most out of AI tools.

    The upside here is having team members experiment with AI begins to build AI expertise inside the company. For example, my company works with a financial services firm where AI employee manager has become a key position. Former customer support specialists there now teach AI agents new skills that add value throughout the business — thus making themselves an indispensable member of the team.

    Companies can even make driving productivity gains via AI a criterion for career advancement. To get promoted, an employee must show their manager how they’re applying AI to deliver results for the business.

    Related: How Generative AI is Revamping Digital Transformation to Change How Businesses Scale

    The next stage: Those departments grow into mini centers of excellence that spread AI knowledge and best practices throughout the organization. Team members educate the rest of the business on how to hire and coordinate AI labor. AI becomes integrated into day-to-day business operations in a way that’s hard to achieve with an exclusively top-down approach.

    Of course, there’s no one best way to take a company through an AI transformation. For legacy industries and large enterprises, a tandem approach — combining top-down and bottom-up — may prove a better fit.

    At the very least, organizations that want to get the transformation right should think about how they can help AI bubble up through the ranks, rather than just rush to hire a chief AI officer simply because others have taken that step. As AI permanently changes companies from top to bottom, it’s just a temporary solution.

    Mike Murchison

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  • This Trauma Doctor Shares How He Deals with Loss and How It Will Change Your Perspective on Failure | Entrepreneur

    This Trauma Doctor Shares How He Deals with Loss and How It Will Change Your Perspective on Failure | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    If you are an emergency room physician, death and the fear of failure are constant companions. A countdown timer starts when a patient arrives with a fatal wound or condition. If that timer reaches zero, the patient will die. If it is prevented from reaching zero, the patient will survive and live to fight another day.

    It is literally a race against the clock, and the role of the ER physician is to battle that timer directly through medical interventions and keep the patient alive long enough for a trauma surgeon, interventional cardiologist or other specialist to solve the issue that is killing them.

    As you might imagine, when the ER staff wins that fight and saves a life, it is a fantastic feeling, but when they fail and lose a patient, it is devastating. Worse yet is when they lose a patient who could have been saved because they either made an error or did not have the required resources to save the person. Every ER Doctor has memories of the patients that they lost. In fact, a requirement for a long and healthy career in emergency medicine is the ability to find peace with this notion.

    I recently had the opportunity to spend time with Dr. Dan Dworkis, a Trauma and ER physician, Professor at the USC Keck School of Medicine, Medical Director of the Mission Critical Teams Institute, Podcast host and the author of The Emergency Mind. Dan has spent his career working in emergency rooms. In fact, not just emergency rooms but a busy trauma center in Los Angeles.

    As you might imagine, Dan has seen it all and, as a result, carries the stories and memories that come with working at a hospital that is frequented by children who have been shot, traumatic car accidents and people with life-threatening injuries and illnesses.

    Dan has spent a big part of his career studying how we make decisions under stress, how to operate in high-stress environments and how to create a culture of continuous improvement. Not surprisingly, I learned a lot from Dan. But, by far, the most profound thing I learned from Dan was a unique way to approach failure and, in the process, open ourselves up to growth and learning.

    Related: The 5 Key Qualities of a Good Leader

    The ritual: Learning by embracing loss

    As you can imagine, trauma physicians see quite a bit of death. No matter how good a doctor you are, you will lose patients, and some of those people certainly could have been saved with different skills or different resources. It would be easy to simply block yourself off from these feelings, to harden your heart, and to put these bad experiences into a mental box that you lock away. While this might not be great for your mental health, it is certainly a seemingly easier thing than confronting these memories and feelings. Yet, Dan actually advocates doing the complete opposite, leaning into the failure and attacking it directly.

    When a patient dies, there is an awkward moment immediately afterward where the team that treated the patient must transition away from that fight and move on to another. Despite just a few minutes before waging a war to save their life, the team must move on from this person. Machines must be turned off, tubes and wires removed, and each team member must emotionally reset and get back to work.

    It would be easy at that point to block the feelings and doubts that arise, place them in a box and move on to the next task while hoping never to think about those feelings again. But that is not what Dan does or advocates. Instead, he engages in a ritual that he was taught as a young doctor, which is to gather the team at the bedside of the patient, place a hand on the deceased patient, and utter the following phrase: “Thank you for teaching me. I am sorry that all I could do for you today was learn.”

    This seemingly simple act and brief statement is more than just a ritual to clear the mind before moving on. Instead, it is a deeply profound approach to situations where we cannot succeed and lays a strong foundation for learning and growth.

    Related: 2 Phrases I Learned From a Senior CIA Officer That Changed My Leadership Style

    Embracing failure

    The first significant thing that this ritual does is acknowledge and embrace failure. Rather than moving on and pretending that something profoundly negative didn’t just happen, this ritual looks failure square in the eye and leans into the discomfort of the situation. It embraces failure and immediately triggers the learning process.

    The first step to growth is the recognition and admission that what we currently do or know is not sufficient. To learn from others, we have to accept our own shortcomings, and this practice opens the door to that and to discovering something better. If we do not admit to our shortcomings, we cannot improve, and this is precisely the point of this ritual.

    Simply look at the phrase, “Thank you for teaching me. I am sorry that all I could do for you today was learn.” By its nature, it says I failed you today, and I wish I had more to give. It doesn’t say, “It’s too bad you died,” or “Wow, rough break you got.” It says, “I am sorry.” It embraces that the team didn’t have enough to save the person (and to be fair, no one may have been able to save them), but simply that acknowledgment doesn’t go far enough. Rather, it says I “learned from you.” It implicitly says, “I will be better next time” and “I am growing and improving my skills.” It is active, not passive, and immediately takes the first step toward learning.

    Conclusion

    A profound lesson extends far beyond the medical field and this single ritual to all of us. Whether you are an entrepreneur, a business leader, or even a parent, creating a culture of learning from mistakes and continuous improvement is critical to getting better. We should never run from our errors or try to hide them. We should embrace our failures and view them as perfect opportunities to grow. By establishing a process that immediately addresses our failures or shortcomings, we also immediately focus our attention on how we can improve, where we have deficiencies and perhaps most importantly, we immediately begin the process of learning and growth.

    Jon B. Becker

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  • How Al Capone Inspired the Launch of a 95-Year-Old Family-Run Company | Entrepreneur

    How Al Capone Inspired the Launch of a 95-Year-Old Family-Run Company | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Creating our show The CEO Series has allowed me to sit down with some of the most innovative and inspiring business leaders in the world to get their insights on what it takes to launch, grow and sustain a meaningful business.

    This episode took us to Ozinga, the concrete and building material powerhouse. They’re based in Chicago and if you’re in the area, you’re surely familiar with their iconic red and white trucks. They have approximately 2,500 employees and I got to have an amazing chat with the guy who oversees it all, Marty Ozinga, the fourth-generation CEO of this 95-year-old company.

    Below are some highlights of that conversation, which have been edited for length and clarity. Watch the full video above.

    His approach to leadership

    “It’s not the people are working for you, they’re working with you. That’s the way I was mentored and taught. We all need each other. We all have different roles and responsibilities, but we’re working with each other.”

    Related: Why Notre Dame’s Football Coach Tells His Team to “Choose Hard”

    Ozinga’s 95-year history

    “Our family came from the Netherlands in 1893, the year of the World’s Fair here in Chicago. The family was always in the delivery business. Then in 1928, my great-grandfather was working with the Cook County Sheriff’s Department during Prohibition and dealing with the hazards of Al Capone and all of that. He had five kids at home and decided, “You know what? I don’t want to fight Al Capone anymore.” So he started a coal delivery business. And then around 1950, ready mix concrete became the era’s disruptive technology. Ready mixed means that it is batched for delivery from a central plant instead of being mixed on the job site. And so Ozinga became one of the first ready mix providers in the region.”

    Related: This Entrepreneur Started Making Short Videos to Share Her Passion for Cooking. Now Her Food Company Is a Global Powerhouse.

    On their iconic trucks

    “We’ve supplied concrete to iconic Chicago landmarks like Soldier Field and Wrigley Field, so it’s fun to be connected to places like that. And we’re really proud of our trucks’ red and white stripes. I think it was a combination of this keen sense of marketing, but also of national pride. But there’s also some joke that they were Dutch and very frugal and those were the two paint buckets in the garage. So I like both those stories.”

    The power of peacefulness

    “Our dispatch office is the nerve center of the business. It’s where all the orders come in from our customers, and then where we dispatch the trucks. It is intentionally very quiet inside. We’ve tried to get it as quiet and peaceful as possible because historically the dispatch office is a very intense, chaotic, loud and crazy place.”

    Building and sustaining a legacy

    “There’s an emotional connection for my family and this company. We’ve been really fortunate that we get to embed ourselves in communities throughout the Midwest. We’re committed to our employees and our customers — we want to be here for the next hundred years and longer. That’s our intention. And while change is necessary so you don’t get disrupted and die and go out of business, there are certain things that you shouldn’t meddle with. Our core principles are the foundation for who we are and why we do what we do — that should never change.”

    Related: How Personal Passions Fuel Business Success for the CEO of Vivid Seats

    Check out more profiles of innovative and impactful leaders by visiting The CEO Series archives.

    Will Salvi

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  • Master This Crucial Business Skill to Become a Better Leader | Entrepreneur

    Master This Crucial Business Skill to Become a Better Leader | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In my 22+ years of marriage, my wife and I have traveled around the world and experienced many different cultures and sightseeing excursions. We especially love scheduling tours with local guides who cherish their home country and know all the facts and stories to share with tourists. One specific memory was on a trip to Paris, France in a motorcycle with an attached sidecar.

    Most people traveling to Paris are focused on their classic picture in front of the Eiffel Tower, but this turned out to be more unique and memorable for one specific reason: Our tour guide’s stories and communication style. On his own motorcycle, he rode in front of us, navigating through the side streets and unknown paths of Paris and its suburbs, stopping along the way to share stories and facts that brought the rich culture and history to life.

    He later shared that he also offered the same Paris motorcycle tour daily in French, German and Italian. This gentleman was able to overcome the language barriers and translate his love for France in a way that would connect with any tourist from any background. The fact that he could do this in four different languages fluently was not just impressive; it was a powerful reminder of the universal importance of great communication skills.

    In business, the ability to communicate well transcends the need to master multiple languages. It’s about conveying your message, vision and values in a way that resonates with people, regardless of their industry or background. While you may not all be learning to speak four languages fluently, enhancing your communication skills is pivotal for success in any business. As technology continues to evolve and advance, the fundamental skill of engaging effectively with others remains timeless and invaluable.

    Related: How Better Communication Skills Can Make You a Better Leader

    Delivery is critical

    The essence of communication lies not only in what you say but in how you say it. The delivery of your message can dramatically affect its reception. Just as my Parisian guide chose his words and modulated his voice to captivate and educate, business leaders must also focus on their delivery. This involves the tone, pace and emotion behind the words.

    A well-delivered message can inspire, motivate and persuade, making it one of the most powerful tools in a leader’s arsenal. Whether you’re presenting to stakeholders, pitching to investors or leading your team, the way you deliver your message can be the difference between success and failure. Think of how often a text or an email is misinterpreted because you didn’t capture the tone and intention as the sender intended it to be received.

    Keep your audience in mind

    Understanding your audience is crucial for effective communication. This means tailoring your message to meet their interests, needs and level of understanding. The motorcycle guide knew exactly how to engage his diverse audience, using cultural references and humor that resonated across different nationalities. He actually related things to us with some American humor and sarcasm.

    In business, knowing your audience can help you decide the best approach to take, whether it’s in a marketing campaign, a business negotiation or even an internal team meeting. It’s about connecting on a level that’s both relatable and understandable, ensuring your message is not just heard but felt and acted upon.

    Not all communication is effective

    Effective communication is about clarity, conciseness and coherence. It’s about making your point without overwhelming your audience with unnecessary jargon or complexity. Simplicity is often the key to understanding, but achieving it requires a deep understanding of the subject matter and the ability to distill it into its most essential elements.

    Remember, it’s not about dumbing down your message but about elevating it to a level where it becomes accessible and impactful. Like the guide who condensed the vast history of Paris into digestible, engaging stories, a skilled communicator can transform complex ideas into clear, compelling narratives.

    Related: 7 Leadership Communication Blunders That Could Make or Break Your Company

    Embrace feedback for continuous improvement

    A crucial aspect of communication that complements the earlier points is the willingness to receive and incorporate feedback. Just as a guide might adjust their tour based on the reactions and interests of the group, effective business communicators must be open to feedback from their audience. This not only helps in refining the message but also in building stronger relationships.

    Feedback provides insight into how your message is perceived and offers opportunities for improvement. By embracing constructive criticism and adapting your approach, you can enhance your ability to connect with others and make your communication even more effective. Ultimately, the goal is to foster an environment of open dialogue where ideas can be exchanged freely and innovation can thrive. This adaptability not only enriches your personal growth but also significantly contributes to the success and dynamic evolution of your business endeavors.

    Keep in mind that your career and success will depend on your ability to communicate well. This is a cornerstone of successful business leadership. It’s a skill that enriches every interaction, from negotiating deals to inspiring your team. Like the art of speaking multiple languages, it opens doors to new opportunities and fosters connections that transcend cultural and linguistic barriers. As you navigate the ever-changing landscape of business and technology, let’s commit to honing this timeless skill, for it’s through the power of communication that we can truly lead, inspire and achieve greatness by turning ideas into action.

    Related: 5 Steps to Communicate Like a Boss

    Chad Willardson

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  • 3 Effective Ways to Connect With Your Customers | Entrepreneur

    3 Effective Ways to Connect With Your Customers | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In today’s market, the bond between founders and customers is more than a transaction; it’s the cornerstone of sustainable growth and brand loyalty. Modern consumers want authenticity more than ever. They find it difficult to connect with faceless entities and want to follow people rather than businesses.

    This shift towards personal connection in marketing stems from a saturated market where consumers are bombarded with choices and advertisements daily. Personal stories and authentic interactions cut through the noise in this crowded space, creating a memorable impression. Consumers crave realness and transparency at a time when these qualities are scarce in the world of business.

    So, how do you go about deepening your connection with your target audience? Here are three strategies that can turn your customer interactions into a powerful engine for sales growth.

    1. Personalize your approach with behind-the-scenes storytelling

    It’s one thing to sell a product. It’s another to tell a story and share fascinating details that resonate.

    Imagine a founder sharing their journey, the highs and lows, through a series of behind-the-scenes content. This narrative isn’t about humanizing the brand; it’s about creating a shared experience. When customers see the sweat and tears behind a product, they’re not just buying an item; they’re investing in a piece of your process and founder’s story.

    So, how do you start?

    Weekly emails or social media posts that peel back the curtain on your process make customers feel like they’re part of your journey. To do this effectively, begin by mapping out key milestones in your company’s history or product development process. For each milestone, identify a story or challenge you faced and how you overcame it. These stories form the basis of your content.

    Next, use visuals like photos, videos, or even simple sketches to bring these stories to life. Visual content not only increases engagement but also helps to humanize your brand further.

    In your communication, be transparent about the obstacles you’ve encountered and how you’ve addressed them. This transparency fosters trust and relatability. Moreover, invite your audience to contribute their thoughts or similar experiences through comments or direct messages, turning your storytelling into a two-way conversation.

    Publicly tell people the “why” behind your products, services, and company by integrating customer testimonials or user-generated content that aligns with your narrative. This validates your claims and amplifies your community’s voice, making your brand’s story part of their own stories.

    Like successful pitch decks showcase the story behind your brand, so should your content marketing and advertisements. Bringing the “real” to your business breeds authenticity, and that authentic connection will drive your business’s growth. Remember, the goal is to broadcast and engage in meaningful conversations that build long-term relationships.

    Related: 8 Effective Ways to Connect With Your Customers

    2. Leverage technology for personal connections

    AI tools are booming, so personal connection using automation seems like an oxymoron. Yet, technology can be the very tool that brings you closer to your ICP.

    Consider implementing AI chatbots that do more than answer queries. Work with tools, consultants, and language model professionals to custom-tailor AI to chat with your customers.

    Implement these chatbots on your company website and train them to initiate conversations based on customer behavior. Offer personalized recommendations or even simply check in with website visitors. Sometimes, a simple “How are things going?” goes a long way, and this part of your customer experience can be automated.

    This approach won’t replace human interaction, of course, but it will enhance it by making your brand present and proactive in your customer’s lives.

    The key? Ensure these AI communications feel personal and specific, not just like another automated message in their inbox or as a popup. This takes a bit more effort to implement, but the investment is worth it for the long-term growth of your brand and business.

    Related: 6 Ways Connections Create a Sense of Belonging Anywhere With Any Workplace

    3. Create exclusive communities

    Imagine a space where your customers can gather to discuss your product and share their stories, challenges and triumphs.

    There’s a particular company on the rise called Skool, which enables businesses and personal brands alike to do just this. Other great platform choices, such as Circle, Mighty Networks or Kajabi, enable seamless community building. These platforms allow you to make posts and help your customers, but they also give users the flexibility to post and communicate with each other.

    An exclusive community for customer discussion could take many other forms as well: a Facebook group, a Slack channel or a dedicated forum on your website.

    The goal for your community is to foster a sense of belonging and mutual support, turning your customer base into a tight-knit community. Offer insider access, sneak peeks, and the opportunity for feedback. The more valued and listened that customers feel, the more likely they are to advocate for your brand organically.

    Over the long term, these communities become a word-of-mouth marketing machine.

    Thomas Strider

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  • 3 Ways to Build a Company Culture Based on Your Purpose | Entrepreneur

    3 Ways to Build a Company Culture Based on Your Purpose | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In the flow of a workday, it’s easy to spend your time putting out fires — we’ve all been there. This reactionary brand of management results in a disconnected, chaotic feeling for everyone from the workforce to the customers. Focusing on your original vision for your company can create a synergy that connects your staff, your clients and the community you serve.

    It’s possible to create a culture of purpose in your workforce and keep a positive, engaging reputation in the marketplace, but this will require that your executive team stays true to the original motivation you had in your mind and heart when you began your journey in business.

    Related: Embrace Your Purpose As a Path to Success

    1. Capture standout employees in the interview

    Leadership and staff can work together to discover common ground and agree on goals, but this process begins in the interview. One of the best predictors of loyalty is a candidate’s desire to focus on meaningful work.

    I run my company as a blind CEO. When I interview a candidate, I mostly want to learn why they want to work for me. I’m always shocked when job seekers reveal they have never been to the website as opposed to those who are excited to share why they feel connected to our mission. When I interview a candidate, it’s often the vulnerability in their answers that speaks to me. Sometimes the person I’m interviewing tells me of a personal disability or limitation, which to me is an act of openness and transparency. I love to hear people say they are passionate about working in an inspirational environment. When our conversation begins, I’m listening for a story.

    What many candidates don’t know is the interviewer is waiting for them to have their breakout moment. This departure from the usual Q&A often reveals their passion for the work or vulnerability.

    It’s important to make sure your interview questions allow you to see a prospective employee’s connection to your mission. You can start by asking candidates what measurable impact they would like to make in the position offered. You can also find out how they envision their work life five years from now.

    2. Create a culture of engagement

    Doing purposeful work means the executive team must create educational opportunities for staff as well as clients, extending engagement with the company beyond “business hours.” This is a chance to show your team and your customers that their needs matter beyond the job description or the product or service you offer.

    Having a corporate reputation as a company that births new leaders and supports hard work and ambition will go a long way toward retaining good team members with the savvy to innovate, create and energize your workforce. Whether it is a group meeting or a corporate retreat, it’s important to mix staff together, allowing employees from across departments and positions to collaborate, exchange ideas, rise as leaders and support each other.

    This kind of shift can start by simply reassigning tasks or creating challenges that give employees a chance to spread their wings. You can take some projects off the administrative assistant’s plate or reassign some items on the to-do list to a staff member who has shown initiative. A team member could send out invitations to meetings or reminders to committee members taken from a list of goals. A staffer could also create a committee to help plan a corporate event and see it through.

    Keep a watchful eye on employees who stand out and give them the opportunity to be seen as experts. Let some be advisors, coaches or provide support to other team members. This will make the staff feel recognized and encourage others to rise to that purposeful level. This kind of support will give you a “pool” of potential leaders, helping your team members feel that their contributions are noticed and rewarded.

    Related: 3 Reasons Why a Strong Purpose Is a Good Business Idea

    3. Build a positive online reputation for your business

    Although you can never eliminate negative reviews, the best approach to a positive corporate reputation is actively implementing a variety of ways to get reviews from employees and customers alike. While it’s estimated that 99% of customers read reviews from time to time, only 13% would choose a product or service from a company with a two-star rating.

    There are several proven ways to generate positive reviews. The process can be as simple as using comment cards. You can also ask for an email address from the customer. Some businesses have a physical “register;” others have an email link where people can sign in and provide this information. From there, it’s easy to follow up and ask for a rating or comment. Other stores offer rewards in exchange for reviews. This offer is usually seen on banners or signs within the physical store, on the receipt (physical or via email) or on the company’s homepage. Some businesses use a QR code leading directly to the online review spot; you have likely seen a kiosk within the store allowing immediate feedback.

    Another way to generate rave reviews is to get endorsements or recommendations from businesses you have partnered with over the years. These allies can speak of important attributes of your company that go beyond a rating system or short comment and may attract traffic to your website and new clients responding to the positive vibes.

    The mantra “If you don’t ask, you don’t get” works well here. There are more ways to get positive feedback for your business than ever before thanks to evolving technology. Rather than running from a corporate fear of bad reviews, make it your business to seek and obtain the best reviews by engaging the community in the process.

    You can direct your company’s reputation by finding new ways to engage your workforce and the people you serve. By promoting outstanding employees, offering training and opportunities for leadership and by making positive feedback a priority, your company can stop putting out fires and start basking in the culture of purpose you always intended.

    Nancy Solari

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  • How to Be an Better Communicator in 7 Steps | Entrepreneur

    How to Be an Better Communicator in 7 Steps | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Back in the late 1980s, when I was in the early stages of establishing my advertising agency, an invitation came my way to speak at a Chamber of Commerce event in Upstate New York. I turned it down. At that moment, the idea of declining might have seemed counterintuitive, especially given my aspirations to grow my business.

    The reason? I was afraid. Fear held me back from seizing an opportunity that could have propelled my agency forward. Not long after that failed opportunity, a pivotal moment arrived during a staff meeting. A few days after the meeting, my Art Director approached me with feedback that was both unsettling and enlightening. He said that everyone had been confused about a particular topic I had discussed, yet no one felt comfortable confronting me about it.

    This incident served as a wake-up call, prompting me to confront my fears and recognize the crucial role effective communication plays in business success. It was clear that if I intended to thrive as a businessperson, especially in a leadership role, mastering the art of public speaking was not just an option — it was a necessity.

    Fast forward to today, forty years later. I started and ran a very successful advertising agency for nearly twenty years. I have been speaking and training globally for over twenty years. I can say with 100% certainty that focusing on better presentation skills after that feedback from my employee was the most important career decision I’ve ever made.

    Related: The Complete, 20-Step Guide to Ace Public Speaking

    You don’t have to be a professional speaker to speak like a professional

    Throughout my career, I’ve had the distinct privilege of coaching aspiring professional speakers as well as numerous executives, guiding them toward becoming not just better communicators but compelling presenters. Whether it’s delivering a critical pitch to board members, leading a staff meeting, or captivating an audience at industry conferences, the power to communicate with both passion and precision is paramount. And by precision, I mean far more than just covering bullet points. It’s about hitting those crucial, emotionally charged points that truly connect with your audience.

    Related: What is a Keynote Speaker and Why Are They Important?

    Improving presentation skills is an ongoing process that can significantly enhance a leader’s effectiveness and ability to achieve organizational objectives. Here are seven steps to becoming a better presenter and a more effective communicator.

    1. Understand your audience: Begin by researching and understanding your audience. What are their interests, challenges, and expectations? Tailoring your message to the audience’s needs and perspectives increases engagement and impact.
    2. Master your content: Know your material inside and out. This doesn’t mean memorizing your presentation word for word but being comfortable with the content so you can adapt on the fly, answer questions, and engage in meaningful dialogue.
    3. Practice relentlessly: If possible, practice your presentation multiple times in various settings. This can include practicing in front of a mirror, with a trusted friend or colleague, or recording yourself to review your performance. The goal is to become comfortable with your delivery and refine your pacing, tone, and body language.
    4. Engage with storytelling: Incorporate storytelling into your presentations. Stories are powerful tools for making complex information understandable and memorable. Use personal anecdotes or hypothetical scenarios that resonate with your audience’s experiences.
    5. Hone your nonverbal communication: Pay attention to your body language, eye contact, and use of space. Nonverbal cues can reinforce your message or, if not managed well, distract from it. Ensure your posture is confident, your gestures are purposeful, and you maintain eye contact with your audience to build a connection.
    6. Manage nervous energy: Learn techniques to manage anxiety and nervous energy. This can include deep breathing exercises, positive visualization, or a pre-presentation routine that helps you center yourself. Recognize that some nervousness is natural and can be channeled into dynamic energy that enhances your presentation.
    7. Seek feedback and continuously improve: After each presentation, seek constructive feedback from peers, mentors, or audience members. Reflect on what worked well and what could be improved. Consider working with a coach or joining organizations like Toastmasters International to gain insights and practice in a supportive environment.

    By following these steps and committing to continuous improvement, you’ll become a better speaker or presenter and a more effective communicator, capable of inspiring and leading others with confidence and clarity.

    Related: 10 Public Speaking Hacks I Learned From My TED Talk

    Remember, effective public speaking is essential in leadership — it’s not just a skill. It’s a necessity. Now, let’s delve into the key benefits of mastering presentation skills for any leader.

    1. Influence and persuasion: Effective presentation skills enable leaders to influence their audience’s attitudes, beliefs, and behaviors. Persuasive presentations can motivate teams, sway stakeholders, and drive organizational change. A leader who is a compelling presenter can better advocate for their vision, inspire action and garner support for initiatives.
    2. Clarity and direction: Leaders often need to communicate complex information, strategies, and visions to a diverse audience. Being a better presenter helps ensure that messages are delivered clearly and concisely, reducing misunderstandings and aligning the team with organizational goals. Clear presentations help demystify complex issues and provide a roadmap for what needs to be done.
    3. Credibility and trust: Presentation skills are directly tied to a leader’s credibility. Leaders who present confidently and effectively are more likely to be perceived as knowledgeable and competent. This perception builds trust within the team and among stakeholders, which is essential for effective leadership and collaboration.
    4. Engagement and inspiration: Dynamic presentation skills help leaders engage their audience emotionally and intellectually. By being a better presenter, a leader can connect with their audience on a personal level, fostering a sense of community and shared purpose. This engagement is crucial for inspiring teams and driving them to embrace challenges and achieve goals.
    5. Adaptability and impact: Leaders must be able to tailor presentations to different audiences and situations. Effective presenters can adjust their message, tone, and delivery to suit the situation, whether they’re motivating a team, pitching to investors, or speaking at a large conference. This adaptability maximizes the impact of their communication, ensuring that their messages resonate broadly and drive desired outcomes.

    In conclusion, becoming an exceptional presenter is a personal and professional evolution, marking a leader’s commitment to excellence and influence. It’s a path that amplifies a leader’s effectiveness and elevates the entire organization. For leaders aiming to leave a lasting imprint on their teams, stakeholders, and industry, refining presentation skills is not just a strategy — it’s a mission. As we’ve seen, the benefits are clear, transformative, and within reach for those ready to embrace the challenge and harness the power of truly impactful communication.

    Scott Deming

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