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Tag: Collaborating

  • How Working With Rivals Can Unlock Bigger Opportunities | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For decades, business leaders were told to “crush the competition.” Market share was a zero-sum game; if your rival won, you lost. But in today’s interconnected economy, that thinking feels outdated. Companies that are thriving in 2025 aren’t just fighting competitors harder; they’re practicing something counterintuitive: co-opetition.

    Co-opetition, the blend of cooperation and competition, is about partnering with rivals when doing so creates mutual value. You may still compete for customers, but you also collaborate where interests align. Think of it less like a boxing match and more like building a bigger stadium where both sides can play.

    Related: Win-Win: Strategically Partner With Your Top Competitors

    Why co-opetition is taking off

    Several global trends are making co-opetition not just smart, but essential:

    Complex supply chains: No company controls everything end-to-end anymore. Collaboration helps reduce costs and speed up innovation.

    Customer expectations: Buyers want seamless solutions, and sometimes that requires rivals to connect services.

    Technology ecosystems: Look at how Apple and Microsoft, once sworn enemies, now integrate their products for remote workers.

    Capital efficiency: For startups, teaming with a competitor can open doors to distribution, investors or bundled products that would otherwise be out of reach.

    In other words, co-opetition has shifted from a “nice to have” to a growth strategy.

    Famous rivalries that turned into partnerships

    Some of the most creative partnerships in recent years came from companies that used to fight fiercely.

    • Spotify and Uber: When Spotify partnered with Uber to let riders control music during trips, both sides benefited. Spotify gained listening hours; Uber improved the rider experience without building a music feature.
    • BMW and Toyota: These two auto giants co-developed fuel cell tech and sports cars. Instead of duplicating billions in R&D, they shared costs while still competing in the showroom.
    • Pepsi and Coca-Cola: You’ll never see them share a Super Bowl ad, but behind the scenes, they teamed up on recycling. Both brands win when packaging becomes more sustainable and cost-effective.

    The lesson: True co-opetition creates value that neither party could generate alone.

    Related: Why Partnering With Your Competition Could Be Your Key to Success

    Why entrepreneurs should care

    For founders and small businesses, the stakes are even higher. Limited resources make co-opetition a powerful lever.

    • Bigger reach: Two SaaS startups, one in HR, another in payroll, might compete for small business budgets. But if they bundle services into a joint package, they can land bigger clients together.
    • Credibility boost: Teaming up with a competitor signals strength. It tells customers and investors you’re focused on expanding the pie, not just hoarding your slice.
    • Lower costs: Joint marketing events, shared research or co-authored thought leadership can cut expenses in half.

    In fact, a study in the Strategic Management Journal found that firms engaging in co-opetition often see stronger innovation outcomes than those going it alone.

    How to partner with a rival (without losing your edge)

    Of course, collaboration with competitors isn’t without risks. Done poorly, it can leak sensitive info or create brand confusion. Here’s how to do it right:

    1. Pick the right rival: Choose a competitor with complementary strengths, not a mirror image of your business.

    2. Set clear boundaries: Use agreements to define what data is shared, what’s off-limits and how success is measured.

    3. Start small: Pilot a low-stakes project like a joint webinar before committing to deeper collaboration.

    4. Keep the customer central: The partnership should improve the end-user experience. If it doesn’t, it’s not real co-opetition.

    5. Stay competitive: Remember, you’re still rivals. Healthy competition drives performance even as you cooperate.

    The mindset shift founders need

    Many entrepreneurs avoid co-opetition because they think it signals weakness. In reality, it signals confidence. It says: “We’re strong enough in our lane to work with others, not threatened by them.”

    It also helps you avoid the scarcity mindset. Instead of seeing opportunity as a fixed pie, co-opetition shows you how to expand the pie. This is especially powerful in sectors like fintech, health tech and mobility, where no single company can solve every problem.

    Related: How to Play Nice With Your Competitor(s) So Everyone Wins

    The future is co-opetitive

    Look around, and you’ll see this becoming the norm:

    • Amazon’s third-party marketplace partners with sellers who also compete with its own brands.
    • Google and Samsung teamed up to strengthen the smartwatch ecosystem against Apple.
    • Airlines, as one of the toughest, most cutthroat industries, build alliances like Star Alliance to expand global reach.

    For entrepreneurs, the message is clear: The next decade of growth won’t just come from competing harder, but from collaborating smarter.

    As the saying goes, “If you want to go fast, go alone. If you want to go far, go together.” In today’s world, that might even mean going together with your rival. The logic is simple: No single company can own every resource, technology or market. By finding areas where interests align, even rivals can unlock new customers, share costs and shape industries in ways that would be impossible alone.

    Co-opetition isn’t about abandoning competition; it’s about knowing when to compete and when to collaborate so that everyone grows stronger in the long run.

    For decades, business leaders were told to “crush the competition.” Market share was a zero-sum game; if your rival won, you lost. But in today’s interconnected economy, that thinking feels outdated. Companies that are thriving in 2025 aren’t just fighting competitors harder; they’re practicing something counterintuitive: co-opetition.

    Co-opetition, the blend of cooperation and competition, is about partnering with rivals when doing so creates mutual value. You may still compete for customers, but you also collaborate where interests align. Think of it less like a boxing match and more like building a bigger stadium where both sides can play.

    Related: Win-Win: Strategically Partner With Your Top Competitors

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    Bhaskar Ahuja

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  • Why the Future of Finance Won’t Be Built on Innovation Alone | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Technologies such as artificial intelligence and blockchain are transforming business, governance and everyday life. Yet even while fintech startups continue to grow, their reach is still overshadowed by the global footprint of established financial institutions. That’s because innovation on its own isn’t enough to scale.

    A new paradigm has emerged: collaboration, where interconnectedness is taking center stage. The implementation of new, disruptive technologies requires building dynamic, highly integrated ecosystems made possible by partnerships fueled by collaboration.

    The definition of success is shifting. Once, it was enough to launch a unique product. Today, especially in industries such as blockchain and virtual assets, isolated solutions often fall short. Real success comes from being part of a larger ecosystem, where startups, institutions and regulators combine their strengths to accelerate adoption, scale faster and establish trust across markets.

    Related: How Strategic Partnerships Catapulted My Business to 200% Growth — and How They Can Help You, Too.

    The case for a networked mindset

    Innovation thrives when diverse players come together, and integrated ecosystems can amplify this effect. To scale disruptive technologies like blockchain and AI, entrepreneurs must learn to build together, co-creating with regulators, pooling infrastructure with competitors and building trust with institutions.

    No company can scale in isolation. Partners, whether distribution channels, liquidity providers or trusted institutions, are crucial for transitioning from concept to mass adoption. Just as importantly, organizations that bring regulators and institutions into the process early gain a significant advantage. By co-creating with policymakers and aligning with market standards, entrepreneurs not only accelerate approvals but also distinguish themselves as builders of trust, the ultimate currency in industries where credibility is essential.

    Leverage networks, not just capital

    Traditionally, financial institutions raced to outpace their competitors. But virtual assets operate differently: Technologies like blockchain depend on shared standards and infrastructure. Tokenized securities, for example, require common frameworks for custody, compliance and settlement. Here, competing harder matters less than collaborating smarter. The entrepreneurs who will thrive are the ones who see that the future of finance, and business at large, can only be built together.

    In my own experience, even something as complex as obtaining a regulatory license, a process that can take years, can be dramatically accelerated by partnering with specialists. With the right expertise and network, what could take years can be streamlined into months, proving that collaboration isn’t just valuable, but also transformative.

    Related: How Collaboration Can Help Drive Growth and Propel Your Business to New Heights

    Think like an industry builder

    Facebook founder Mark Zuckerberg once said, “Move fast and break things.” The motto encouraged agility and captured the spirit of disruption: Launch first, ask questions later. But what may have worked in the early days of social media is far less sustainable in industries where the stakes are higher. Today’s technologies involve finance and governance, and they challenge systems that have remained unchanged for decades. In these spaces, collaboration becomes essential. Entrepreneurs who want to build with lasting impact must align with regulators, institutions and even competitors to create trusted, scalable and resilient systems.

    Research shows that companies engaged in close inter-firm partnerships experience significantly stronger outcomes in innovation. When JPMorgan wanted to test the tokenization of investment portfolios, it didn’t do it alone. It partnered with Apollo, Axelar, Oasis Pro and Provenance Blockchain as part of Singapore’s Project Guardian. The result was Crescendo, a prototype that proved tokenized assets could be managed seamlessly across blockchains. Examples like Project Guardian prove that when multiple players align, entire markets move forward. To make collaboration scalable, industries need permanent frameworks, a principle first captured in Henry Chesbrough’s concept of “open innovation.”

    The chamber model

    The concept of “open innovation,” coined by Henry Chesbrough of UC Berkeley, argued that companies should not solely rely on internal R&D but instead share ideas, technologies and resources across boundaries. In finance and virtual assets, this principle is evolving into structured collaboration.

    Regulatory sandboxes in the UK and Singapore have already shown how powerful these models can be: Startups involved were more likely to raise funding and survive long term. But sandboxes are temporary. What industries need now are permanent, neutral structures that turn collaboration into a repeatable advantage.

    Just as chambers of commerce once accelerated global trade, new chambers in finance and virtual assets are emerging as convening spaces where startups, regulators and institutions align on shared standards. These platforms have already supported multibillion-dollar projects, such as gold-backed securities, by bringing issuers, regulators and institutional investors under a common framework.

    Related: Not Tech but Collaborations to Be the Next Big Thing for Fintech Industry

    For emerging platforms, joining a chamber provides more than credibility; it creates immediate access to capital allocators, regulatory advisors and tokenization partners. As these chambers interconnect globally, they form a unified voice capable of shaping international policy, driving market confidence and speeding adoption worldwide.

    Finance has always been global, and so has collaboration. Chambers give entrepreneurs a seat at the same table as regulators and institutions. In a market defined by speed and credibility, those who embrace collaboration not as a concession but as a growth strategy will be the ones who shape the future of finance.

    Technologies such as artificial intelligence and blockchain are transforming business, governance and everyday life. Yet even while fintech startups continue to grow, their reach is still overshadowed by the global footprint of established financial institutions. That’s because innovation on its own isn’t enough to scale.

    A new paradigm has emerged: collaboration, where interconnectedness is taking center stage. The implementation of new, disruptive technologies requires building dynamic, highly integrated ecosystems made possible by partnerships fueled by collaboration.

    The definition of success is shifting. Once, it was enough to launch a unique product. Today, especially in industries such as blockchain and virtual assets, isolated solutions often fall short. Real success comes from being part of a larger ecosystem, where startups, institutions and regulators combine their strengths to accelerate adoption, scale faster and establish trust across markets.

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    Farbod Sadeghian

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  • Want to Sell More? Make Your Team Less Competitive, Not More | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As someone who has coached several sales teams over the years, I’ve seen how traditional competitive sales environments run leaders down. Perhaps one of the biggest challenges of managing this particular group of personalities is that they’re extremely competitive. This competitiveness can be both a boon for your company (e.g. the sales will keep coming) and a burden for you (e.g. you’re trying to keep high-achievers from acting aggressively or impulsively).

    I’ve seen top sales performers clash over territories and go to war with each other. Their sales manager then has to move from focusing on strategic leadership to constant conflict resolution. The stress is overwhelming not just for the manager, but for the entire organization.

    This experience led me to explore alternative approaches to sales team structures, studying companies that had successfully reimagined their sales cultures. The organizations I observed transformed their sales department by breaking down traditional silos and changing their compensation models to reward collective success over individual achievement. These models showed me that there’s a better way forward.

    Related: How Collaboration Can Help Drive Growth and Propel Your Business to New Heights

    Why collaborative selling works for everyone

    The natural go-getter attitudes of your sales team are a benefit to you, but when they are at odds with each other, it’s a drain on their time. If your salespeople are constantly trying to outdo each other, they won’t be as focused on outdoing the competition. They will also have trouble working together to meet shared goals.

    One way to fix this is to switch up your internal selling framework and move toward one that rewards collaboration. When they collaborate, they can pool their talents and have a better chance of beating the competitors.

    But beware. You can’t just say that you’re going to collaborate and then let the discussion end. Instead, you have to strategically revisit several aspects of your sales culture to drive more collaboration in a systematic way that you can still measure and control. You can start with the following suggestions.

    1. Allow sales representatives to have more flexibility

    Are your salespeople assigned to strict territories, verticals or product lines? This may be causing unnecessary tension between your salespeople and their customers. Sometimes, this friction can stem from team members feeling that certain assignments are less favorable than others.

    To increase cross-divisional synergy, think about ways you could drop some of your barriers. For example, Nexus Power bucks the traditional sales model by organizing into five separate but collaborative divisions across 11 western states. Rather than only incentivizing each sales team for the products for which they are directly responsible, their sales reps have the ability to tap into expertise from any division when customer needs span multiple product categories or require specialized knowledge. This approach not only provides a more seamless customer experience, but it also positions the sales team as the customer’s “go-to” resource for all their needs.

    To implement this concept, map your current territorial or product barriers, then pilot a “flex territory” program allowing cross-boundary collaboration on qualifying deals. Establish clear revenue-sharing protocols and regular knowledge-sharing sessions between divisions.

    Also, most importantly, adjust your compensation structure to reward collaboration alongside individual performance, ensuring that helping a colleague close a deal doesn’t penalize anyone’s commission.

    Opening up more opportunities to your salespeople won’t mean your stressors will vanish. However, you won’t have to play the role of referee between unhappy salespeople as much.

    Related: A Guide to Hiring the Right Type of Salesperson for What You’re Selling

    2. Incorporate a group commission into your compensation model

    Conventional sales-comp structures built almost entirely around individual quotas can choke off collaboration. That’s why 91% of companies said they will tweak their incentive plans this year, according to the Alexander Group’s 2024 Sales-Compensation Trends survey.

    A proof point comes from Pfizer, whose 4,500 U.S. customer-facing colleagues are mapped into seven business lines and hundreds of micro-territories. Each territory rolls up into a regional collective, and once that region crosses 100% of target, the entire cohort participates in Pfizer’s Global Performance Plan, an annual bonus pool that adds roughly 20% of base pay on top of any individual incentives. Territories are re-mapped quarterly to keep workload and opportunity balanced, so no one feels short-changed yet everyone is invested in pushing the region over goal.

    Related: How to Create a Pay Structure That Promotes Team and Company Growth

    3. Empower sales professionals to work their unique skills

    Another way to boost collaboration is to give your processes a complete overhaul. For example, you could use a test like the Clifton Strengths assessment to pinpoint what each of your employees is best at doing. You could then use the data to figure out who on your team is a rainmaker, a relationship builder, a closer, a specialist, etc.

    After determining the strengths of your team, you can then position them to shine. Maybe you assign your networkers to make it rain and then hand off leads to your communication masters who can build connections. By making the most of the skills of your current team, you may be able to help everyone achieve more — just make sure your new compensation model aligns with this shuffling of roles.

    A nice side effect of turning your team into a cohesive unit is that you’ll be able to see any gaps right away. When you do, you can fill those gaps with the right talent. Plus, you’ll be able to easily adapt your team to market changes because they’ll be working in tandem.

    You have enough stress. Rather than continuing with work as usual, consider the advantages of downplaying competition and encouraging collaboration for you and your team.

    As someone who has coached several sales teams over the years, I’ve seen how traditional competitive sales environments run leaders down. Perhaps one of the biggest challenges of managing this particular group of personalities is that they’re extremely competitive. This competitiveness can be both a boon for your company (e.g. the sales will keep coming) and a burden for you (e.g. you’re trying to keep high-achievers from acting aggressively or impulsively).

    I’ve seen top sales performers clash over territories and go to war with each other. Their sales manager then has to move from focusing on strategic leadership to constant conflict resolution. The stress is overwhelming not just for the manager, but for the entire organization.

    This experience led me to explore alternative approaches to sales team structures, studying companies that had successfully reimagined their sales cultures. The organizations I observed transformed their sales department by breaking down traditional silos and changing their compensation models to reward collective success over individual achievement. These models showed me that there’s a better way forward.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Peter Daisyme

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  • 5 Ways Solopreneurs Can Scale Their Business Through Collaboration | Entrepreneur

    5 Ways Solopreneurs Can Scale Their Business Through Collaboration | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    There’s no shortage of examples of successful solopreneurs who have forged their own path to grow ground-breaking businesses. They’re often held up as people who value autonomy and control and who approach business building like it’s a hero’s journey.

    But I believe our culture has blown the “solo” part of solopreneurship out of proportion, leading many would-be entrepreneurs and creators to feel like they have to go it alone. And while solopreneurs are solely responsible for making decisions about their businesses, it doesn’t mean they have toil away independently on every aspect of it. Doing so can actually be detrimental.

    Many successful entrepreneurs find ways to involve others for support and guidance and to create a shared journey. Through my work with creators, many of whom are solopreneurs, I’ve seen how this approach can be transformational. For example, for many years, my company has hosted an event in which women of color within the creator economy have shared their experiences. We found that creating space for these solopreneurs led to record-breaking attendance. It’s all part of a larger movement that has seen solopreneurs come together in real life and on virtual platforms to leverage the power of community and collaboration.

    Related: 5 Ways for Solopreneurs to Sustain Momentum and Thrive

    As a solopreneur, you are part of something bigger

    The growing number of solopreneurs has effectively changed the face of our economy. Today more than 80% of American small business owners operate without any staff. For some, this works well.

    But I’ve noticed that many creators, for example, go into their journey with the mistaken belief that if they can’t figure it out on their own, they’re not cut out for entrepreneurship. The reality is that stoically resisting help or not seeking out support or community can lead to loneliness, burnout and even depression.

    Working with others is powerful, and many brands are tapping into this movement and finding ways to facilitate inspiration and connection by bringing their communities together – whether it’s around e-commerce, crowdfunding, fitness or other aspects of life and business. The cliche really is true: we may go faster alone, but we often go farther together. Embracing a community-based approach can lead to tangible benefits.

    The power of finding your people (and places)

    Broadening your definition of solopreneurship isn’t just about finding people to work with though. It can also be about uncovering solutions you didn’t know existed, getting access to information or guidance from people who have been there, or even just having a place to go when you need a break from your home office. Here are a few of the ways I’ve seen individuals take a collaborative approach to solopreneurship – and reap the benefits:

    Choosing tech platforms that offer community

    We’ve all experienced the rise of online communities – public and private – but consider the unifying force of tech tools that support people in achieving specific goals. Whether it’s launching a course or implementing a payment system, you’ll find people rallied around platforms offering concrete solutions. Choose your platforms wisely, and you’ll end up with more than just tools; you may find new colleagues, collaborators and a wealth of shared expertise.

    Working from a coworking space

    Anyone who’s ever worked from home – or launched a business from their basement – understands the value of a good coworking space. Beyond situating you among peers, they offer rich gathering spaces for solopreneurs who want to network, learn, and enjoy the creative energy of others. Research has shown that people thrive in coworking spaces thanks to the collective boost in productivity and creativity – and that they can also be a great antidote to burnout.

    Attending in-person conferences and events

    Ever since Covid put a pause on live events, it’s been tough for many of us to get back into the swing of it. But there are benefits to immersing yourself in a room full of strangers – particularly the opportunity to forge deeper connections. Sharing new experiences with other people in person can lead to the kinds of bonds you just don’t get over Zoom (and making that in-person investment can open up other ways to maximize your returns there, too.)

    Teaming up with a partner

    Collabs are still having their moment, but they can be more than just a trendy way to build an audience. I get genuinely excited when I see solopreneurs I follow come together because I’ve seen how great collaborations can effectively fill business gaps. Plus, good partnerships can also uncover new opportunities, boost revenue and even fuel innovation. Sure, there can be risks to collaborations too, but as long as you stay true to your goals and your brand, you stand to benefit.

    Related: Solopreneurs are Changing the Face of the Economy

    Finding a mentor

    Much like peers, mentors offer business advice based on their lived experience, but they also bring the wisdom of seniority. But if the intimidation factor of approaching a mentor is holding you back, you can always start more informally. Many solopreneurs give back to their communities by sharing their learnings through courses or live events. Start by following people you admire and see what it can lead to.

    However you choose to expand your definition of solopreneurship, keep in mind that inviting others into your journey doesn’t negate your success; at the end of the day, the buck still stops with you. By piecing together a new narrative about the realities of solopreneurship, we can start to normalize the idea that creators and entrepreneurs don’t need to walk this road alone. And sometimes, just knowing that help – and a shoulder to lean on – is out there can go a long way toward boosting resilience, capacity, and the determination to keep going.

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    Christie Horsman

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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

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    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.

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    Nancy Solari

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  • As a Teenager, Clinton Sparks Resorted to Street Crime in Order to Survive. Now He's a Music Producer Who Has Sold Millions of Records With Beyonce, Lil Jon and More. Here's How He Turned Personal Turmoil Into Triumph. | Entrepreneur

    As a Teenager, Clinton Sparks Resorted to Street Crime in Order to Survive. Now He's a Music Producer Who Has Sold Millions of Records With Beyonce, Lil Jon and More. Here's How He Turned Personal Turmoil Into Triumph. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    With his inspiring journey from a difficult childhood to success in the music industry, Clinton Sparks shared valuable insights and lessons learned along the way.

    One of the key takeaways from the interview was the emphasis on relationships and building relationship capital. Clinton Sparks highlighted the significance of investing in people and causes close to him. He stressed the importance of understanding one’s own capabilities and leveraging relationships to achieve success.

    Clinton’s story of success in the music industry is a testament to his determination and resilience. Growing up in the hood, he faced numerous challenges and obstacles. However, instead of succumbing to his circumstances, Clinton used his resourcefulness to set up his own DJ equipment at home, even resorting to robbing houses and stealing turntables. This early experience taught him the value of having a plan rather than just an idea.

    Related: 4 Principles to Success According to a Former Pastor Turned Business Coach

    The interview also shed light on Clinton’s experience of being signed to a major label and then begging to be dropped. This decision was driven by his desire to pursue his own vision and recognize talent in others. Clinton’s ability to combine EDM and hip hop led to his discovery and signing of DJ Snake in 2007. Six years later, he introduced DJ Snake to Jimmy Ivy, resulting in the creation of the hit song “Turn Down For What.” This success story showcases Clinton’s keen eye for talent and his willingness to take risks.

    Throughout the interview, Clinton Sparks emphasized the importance of leaving a positive mark wherever one goes. He believes in competing with oneself rather than others, constantly striving for personal growth and improvement. Clinton’s commitment to investing in people and causes close to him is a testament to his character and values.

    When challenged by Jeff Fenster to rate himself on a scale of one to ten, Clinton hesitated before eventually giving himself a 9.9. This self-assessment reflects his humility and constant pursuit of excellence.

    Related: This Why You Should Align Yourself with the Right People

    In conclusion, Clinton Sparks’ interview on the Jeff Fenster Show provided valuable insights into the importance of relationships and building relationship capital. His journey from a difficult childhood to success in the music industry serves as an inspiration to all. Clinton’s emphasis on understanding one’s capabilities, having a plan, and accepting life’s challenges resonates with anyone striving for success. By investing in people and causes close to him, recognizing talent in others, and leaving a positive mark wherever he goes, Clinton Sparks has truly mastered the art of building relationship capital.

    About The Jeff Fenster Show

    Serial entrepreneur Jeff Fenster embarks on an extraordinary journey every week, delving into the stories of exceptional individuals who have defied the norms and blazed their own trails to achieve extraordinary success.

    Subscribe to The Jeff Fenster Show: Entrepreneur | Apple | Spotify | Google | Pandora

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    Jeff Fenster

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  • How to Network at Events Like a Pro and Watch Your Startup Soar | Entrepreneur

    How to Network at Events Like a Pro and Watch Your Startup Soar | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We, as entrepreneurs, have a goal: to grow a startup — a brand — that impacts many people with our solutions and services. This entails numerous tasks, from building a product, managing and hiring a team, finding investors and establishing a client base. With that in mind, who has the time to network and attend events? And on top of that, do you know why most people hate networking at events? Because they rarely meet relevant people for them, and it often feels like a waste of time.

    Do you know why it feels like a waste of time? Because they never took the time to set their goals for the conference or meetup and define who they came to meet, and instead leave it up to luck or chance.

    I always say that no one teaches us how to network for results, and that’s why I took on the task over a decade ago to build my expertise and run workshops to teach professionals all around the world how to network — and that includes at conferences.

    To help you make the most of your next meet-up or conference, I would like to share some of my top practices. Once you do them, you will surely look at networking events as a source of opportunities rather than a time waster.

    Related: 3 Ways to Get More Business at Networking Events

    1. Remember: Networking is uncomfortable for all of us, not only you

    Why are we so uncomfortable next to strangers at conferences? Once you crack that, you can work the room so much better. I hope this info will make you feel a bit better: Based on public speaking statistics for 2020 from Orai.com research, 77% of the U.S. population feel some anxiety when it comes to public speaking, and 90% report some “shyness.” This means most people who come to the event will feel the same as you do — uncomfortable and insecure. However, in most cases, they will put a “mask” on and won’t show it.

    Various studies and concepts in social psychology and cognitive neuroscience also found that when we meet new people, our brains subconsciously assess whether they like us and whether they pose a threat. It happens in split seconds, and that’s why a positive first impression is so crucial.

    What can you do to connect well with all the people you meet? Be proactive and initiate the conversation instead of waiting for them to do so. Show them that you are open to meeting them through open body language, a smile and a warm look in their eyes. It’s so simple and non-verbal, can make a better experience for both of you and could be the beginning of a great friendship or business partnership.

    2. Set your “people’s goal”

    As said, most people don’t feel networking events work for them because they don’t set a goal for those they want to meet with. Several years ago, a global businessman I followed came to Berlin for a conference while I was there. I sent him a LinkedIn message a few days earlier, stating that I saw he would be in town and expressing my wish to meet with him. We set a time for our meeting, and when I arrived at the conference at that designated time, I met him and left. Mission accomplished — and it was short, precise and time well spent.

    Before going to a conference, check if the topic, speakers and type of participants are people in your industry whom you wish to get to know. Then try to find out who will be there and set a goal of at least two people you must meet at the conference. Make sure you do what is needed to meet them and ensure you won’t leave the room before you do so. Then, by the time you leave the conference, it should feel like time well spent. Don’t forget to follow up after and continue the conversation with those you met.

    Related: The 10 Commandments of Networking

    3. Create your “events squad”

    Usually at conferences, we may know some people from the past, meet new people and even attend with another “wingman/woman.” To meet the people you wish to get to know, you need to be everywhere and see everything. But how? By creating your own “event’s squad” that will increase the chances of getting connected to the right people.

    You can do it with a bit of planning, a lot of goodwill and two stages. It goes like this:

    Stage 1: Every person you meet, whether a new acquaintance or an old friend, at some point in the conversation, ask them: “Who are you interested in meeting at this conference? I might see/know them and can introduce you two.”

    Stage 2: Then, they may ask you the same question. If not, just say: “By the way, I’m looking to connect with people in [sector] if you come across anyone please introduce us.” They usually will say “Yes, sure!”

    Now what? If you get to meet someone they’re looking to meet as well, please introduce them during the event or after. Some of them will do the same for you, and this way, you build a team that thinks of your needs — just as you think of theirs — and increase your chances for relevant introductions during and after the conference. That’s actually what networking is all about: a mutually beneficial relationship that helps each side grow.

    Related: How to Network For Those Who Hate to Network

    In conclusion, mastering the art of networking at conferences is not only about attending events but strategically planning your moves and setting clear goals. By being proactive, initiating conversations and connecting with others, you can transform networking from a perceived time-waster into a powerful tool for professional growth.

    Remember: Everyone at the conference, like you, seeks meaningful connections. With a thoughtful approach, you can make your conference experience truly impactful. Embrace these techniques, and may your future conferences be not just events, but stepping stones toward your professional success and company’s growth.

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    Lirone Glikman

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  • How Much Is Too Much Automation in the Workplace? How AI Could Be Hurting Your Employees | Entrepreneur

    How Much Is Too Much Automation in the Workplace? How AI Could Be Hurting Your Employees | Entrepreneur

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    Artificial intelligence (AI) is taking over the workplace, and employees are still not sure how their companies are using automation tools to boost their productivity or augment specific tasks of their jobs.

    The reality, however, is that many companies have given their all or nothing for artificial intelligence without considering the near and long-term impact these tools will have on employees’ mental well-being. Now the results are in, and it’s not looking very good.

    Several studies have found that employees are feeling more stressed or anxious since their companies have introduced several new AI-focused projects to assist with overall workplace productivity.

    All of this for an extra boost in the quarterly bottom line.

    Related: How to Leverage AI to Supercharge Your Business

    How artificial intelligence is impacting employees’ well-being

    What many thought would become the breakthrough moment of the century is now looking more and more taboo for some workers trying to avoid the topic of artificial intelligence in the workplace.

    One recent study published by the American Psychological Association (APA found that roughly 4 in 10 (38%) American workers are worried that artificial intelligence will partially or completely take over their job duties, leaving them obsolete.

    All of this tracking hasn’t fared well with employees either. In the same APA report, around a third (32%) of employees that know their boss is tracking their activity reported their mental health being “fair” or “poor.”

    In a different APA study, more than half of employees said they are aware that their boss or manager is using some form of AI to monitor their activity while on the clock.

    This isn’t to mention the countless number of employees feeling overwhelmed with all the new learning and training they have to undergo to effectively apply artificial intelligence in the workplace or their day-to-day activities. Fears of being replaced by machines, computers monitoring their activity and the absence of AI workplace policies are only adding more confusion to the office talk.

    Yet, despite all of this chatter going around, a survey by The Conference Board found that 1 in 10 employers are now using generative AI tools daily. However, only 23% said that their company had an AI policy in development and 26% said their organization already had something in place.

    A fear of becoming obsolete

    All over the world, employees are becoming more fearful of artificial intelligence taking their place in the office. In fact, a study by the Pew Research Center found that roughly 19% of U.S. workers were in jobs most exposed to the possibility of being automated by AI.

    While it’s still unclear how many jobs might be slashed in the coming years, because it’s cheaper and more effective to employ machines, some suggest that artificial intelligence has already contributed to roughly 4,000 layoffs in May this year.

    While employees fear that they might be replaced in the coming years, or even more worrisome, in a couple of months at the rate at which artificial technology is developing, many are also concerned over whether they will find a good paying job elsewhere.

    Concerns regarding job fulfillment and work-life balance are all now being questioned as the workplace becomes increasingly automated and the labor market more competitive.

    Related: Don’t Waste Money on AI. Unlock Its True Potential By Treating It Like a New Hire.

    Lack of privacy and security

    It’s no secret that companies are leveraging artificial intelligence to track and monitor employee performance and their day-to-day activity while on the clock.

    While some companies have used this technology to allow their teams to have more efficient and transparent workplace practices, allowing them increased exposure to project progress, and the ability to resolve inefficiencies more effectively — some employers have gone the other route, instead.

    Those employees who know their bosses and managers are tracking their activity have felt that they are often being inappropriately watched; in fact, 81% of employees felt this way.

    Employees are feeling that they are not being trusted by their employers or team members, leading to decreased morale and engagement. Additionally, this only adds to workers’ personal distress and leaves a sour taste in their mouths realizing that their activity is closely being captured by their employers.

    On top of this lack of privacy, many employees often feel that a potential data breach could only further expose more of their personal information to bad actors. Weak cybersecurity infrastructure and a lack of proper security training are often known to be some of the biggest reasons for data breaches in the workplace.

    A continuity of underlying workplace discrimination

    Other issues with automation and artificial intelligence tools in the office are the potential risks these tools pose for workplace diversity and inclusion practices. Hiring algorithms used to train AI models are often responsible for the design choices made during a company’s hiring process and for selecting appropriate candidates for open positions.

    However, many people feel that these algorithms used in the hiring and candidate selection process can influence a company’s wider diversity, equity and inclusion (DEI) standards.

    Already, there have been multiple examples of artificial intelligence being host to cultural and gender bias, only selecting employees based on their race, gender, and age and not necessarily taking into consideration their qualifications or experience.

    Effectively training AI-hiring algorithms to de-bias itself and remove discriminatory actions takes time, often reversing the work employers have already done in recent years to create more equitable workplace policies.

    What’s more, these systems are only learning from the data companies can feed them. Let’s say a company is predominantly male, the system will read that as “Hey, we don’t really hire women around here.”

    Not even companies such as Amazon couldn’t de-bias its hiring algorithms back in 2018, despite having access to the necessary resources and skills.

    Related: AI Is Coming For Your Jobs — Anyone Who Says Otherwise Is In Denial. Here’s How You Can Embrace AI to Avoid Being Left Behind.

    Where do employers draw the line?

    Well, that’s exactly the question many are wondering about. Companies will continue to invest in artificial intelligence, and employees will have to deal with what comes afterward. Finding a balance would require employers to take more actionable steps to effectively integrate AI within the workplace, allowing employees to grow alongside it, instead of being fearful thereof.

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    Pierre Raymond

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  • Why Strong Collaborations Will Change Your Business | Entrepreneur

    Why Strong Collaborations Will Change Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    My entrepreneurial journey, marked by a series of ventures ranging from innovative startups to strategic industry alliances, has continually emphasized a crucial principle: the power of collaboration far outweighs the benefits of competition. Embracing the philosophy of ‘sharing is caring,’ I have witnessed its transformative impact firsthand in business.

    In one of my key ventures, I ventured into uncharted territory by collaborating with a partner from a different industry. Together, we combined our unique market insights, enabling us to penetrate a new market segment previously inaccessible to us individually. This collaborative effort expanded our reach and significantly enhanced our venture’s profitability and market standing. This experience, among many others, has been a testament to the fact that sharing knowledge and resources leads to exponential growth and new avenues for innovation.

    I once worked alongside a technology startup, offering my marketing and client relations expertise. This partnership resulted in the development of a groundbreaking product that addressed a gap in the market, leading to substantial growth for both entities. Through these collaborations, I have learned that sharing insights and resources can catalyze growth in ways that working in isolation cannot achieve.

    Related: 10 Simple Ways to Build a Collaborative, Successful Work Environment

    These experiences have shaped my approach to business and equipped me with a wealth of knowledge and a diverse network. I’ve realized that in sharing, we not only give but also receive in abundance — this reciprocal nature of sharing fosters a supportive business environment, where collective success is celebrated.

    For readers embarking on their entrepreneurial journeys or looking to elevate their existing ventures, embracing this ethos of collaboration can be a game-changer. The willingness to share knowledge, resources, and expertise with others can open doors to unexpected opportunities, new market insights, and stronger business relationships. It can transform competitors into allies and solitary struggles into shared triumphs.

    Moreover, the ability to forge and maintain collaborative relationships is invaluable in today’s interconnected business landscape. It enables entrepreneurs to leverage a wider range of skills, experiences, and perspectives, leading to more innovative solutions and a more robust approach to business challenges.

    In conclusion, my journey has taught me that a mindset geared towards sharing and collaboration is not just an ethical choice but a strategic one. It paves the way for collective growth, innovation and long-term success. For entrepreneurs and business leaders, adopting this mindset means opening up to a world of possibilities where sharing knowledge and resources leads to mutual growth and lasting impact. Remember, in the dynamic world of business, the act of sharing can indeed lead to thriving.

    Related: How Collaboration Can Help Drive Growth and Propel Your Business to New Heights

    The power of sharing in business

    In my experience, sharing within the business community lays the foundation for mutual growth and success. It’s a value exchange that benefits all involved, fostering trust and building robust business relationships. Be it sharing insights from my startup adventures or resources from my network, each act of sharing has multiplied opportunities, not just for me but for my partners as well.

    Networking and relationship-building

    Effective networking, a vital skill I’ve honed over the years, goes beyond collecting contacts. It’s about forging meaningful connections. Providing valuable information or introductions without immediate expectations of a return has reinforced my reputation as a generous and reliable partner, and this generosity has often circled back with new opportunities.

    Overcoming the ego

    In my early days, the hesitation to share stemmed from a fear of losing my competitive edge. But I quickly learned that this ego-driven approach was counterproductive. Opening up to collaboration allowed me to access diverse perspectives and expertise, enhancing my own business acumen and offerings.

    Strategic alliances

    Throughout my career, I’ve actively sought strategic partnerships. These alliances have been crucial for scaling businesses, entering new markets, and fostering innovation. They’ve also provided a support system during challenging economic times, proving that shared burdens are easier to bear.

    Encouraging innovation

    Innovation thrives in a collaborative environment. Sharing ideas with partners has sparked new concepts and accelerated development processes. In my ventures, pooling resources and knowledge has consistently led to faster and more effective innovation.

    Related: Connected for Success: 4 Crucial Values of an Interconnected Organizational Culture

    Conclusion

    Throughout my entrepreneurial journey, I’ve learned a pivotal lesson: the true essence of growth and expansion lies in a sharing mindset. This approach goes beyond the traditional concept of guarding trade secrets. Instead, it’s about leveraging the collective power and diverse strengths that come from partnerships and collaborations. In my own experiences, from kickstarting ventures to forging alliances, the act of sharing – be it knowledge, resources, or opportunities — has been instrumental in expanding my professional network and cementing enduring relationships built on mutual trust and respect.

    Sharing in business is a strategic move that fosters a culture of openness and mutual support. It encourages ideas, opens doors to innovative approaches, and paves the way for collaborative problem-solving. By embracing this mindset, entrepreneurs can tap into a wealth of resources and perspectives they might not have access to individually. This collective approach leads to more robust, sustainable business models and strategies that are well-suited to the complexities and dynamism of today’s business landscape.

    Moreover, sharing cultivates an environment where learning from one another becomes a continuous process, enriching everyone involved. It promotes an ecosystem where successes are amplified, and challenges are met with combined strength and wisdom. The synergy created through sharing can lead to breakthroughs and achievements that might have been unattainable in isolation.

    In conclusion, as we navigate the ever-evolving terrain of business, embracing a philosophy of sharing is not just about being caring or generous; it’s a strategic choice that can lead to remarkable growth and enduring success. It’s about recognizing that in the vast tapestry of the business world, the threads of collaboration and sharing strengthen and enrich the fabric of entrepreneurial success. Remember, in the business world, sharing is a strategy for thriving.

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    Henri Al Helaly

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  • CEO Struggles Eased by Business Community Support | Entrepreneur

    CEO Struggles Eased by Business Community Support | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    Everyone knows that life as a CEO is awful. As Elon Musk’s friend once put it, “It’s like chewing on glass while staring into the abyss.”

    No doubt that phrase struck a chord with the Tesla CEO, given his numerous “production hell” and “development hell” experiences over the years, not to mention nearly going bankrupt in 2009.

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    Kimberly Zhang

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  • 5 Steps for Consistent Lean Operations | Entrepreneur

    5 Steps for Consistent Lean Operations | Entrepreneur

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    Lean principles have proved incredibly effective for future-proofing organizations from wasting resources. Though the philosophy originated in manufacturing, its adaptability has made it essential for any modern business leader looking to eliminate resource waste, improve quality, reduce variations in customer service and increase productivity.

    Lean management principles can be applied to many essential parts of a company, including production, supply chain management, customer service and administrative processes — all to meet customer expectations while improving productivity consistently.

    Over 70% of lean implementations fail — so what are the critical differentiating factors for those who can succeed? If executed correctly, lean management improves both customer service and employee satisfaction while reducing overall costs via productivity gain continually.

    It’s easy for leaders to talk about optimizing processes, but a successful lean systematic approach requires a deep understanding of key customers’ critical needs and a well-integrated yet simple execution plan. Most importantly, it requires an energized community of employees dedicated to continuous improvement with unwavering support from the CEO and the executive team.

    These five steps are paramount for business leaders hoping to implement lean principles to deliver consistent results meaningfully.

    Related: How to Apply Lean Principles to Your Startup’s Productivity and Time Management

    1. Understand your key customers

    At the end of the day, business is about people. With all the pressure to innovate in today’s world, it can be all too easy to lose sight of what a company’s true customers actually want and need. Lean principles are centered around the “North Star” of any business: the pain points and opportunities within a company’s target audience.

    To eliminate excess and non-value-added activities, one must first identify those that best serve the customer’s needs and listen directly to customers to understand better how these desires are (or are not) being met. This concept is at the heart of the Lean pull system and just-in-time manufacturing, which urge companies to carry out work only when there is a demand for it rather than creating products based on forecasts.

    2. Diversify perspectives

    Lean principles seek to overcome four core challenges: drag (the resistance from sluggish markets or enterprise-wide misalignment of strategies); inertia (resistance to change, including functional siloes); friction (products or services not in sync with customer expectations); and waste (resulting from outdated KPIs, failure to evolve and disengaged leadership).

    Bringing key customer needs into a company can help align company practices, culture and products/services to combat these challenges quickly and effectively. Fresh eyes, especially those with a cross-functional team approach, are crucial for mapping out and augmenting processes within the company that deliver the right products and solutions to customers and can directly combat the static mindset of companies that may otherwise be resistant to necessary change.

    Related: 5 Reasons Not to Follow the Lean Startup Process for Your Next Idea

    3. Establish metrics for progress and success

    Knowing how to measure both progress and success helps businesses implement the lean philosophy as a long-term company strategy rather than just a project. These metrics/KPIs may take various forms — including visual tools or techniques that make information and work progress more visible, as transparency helps cross-functional teams monitor and manage work more effectively and in real-time.

    Moreover, all ideals related to progress and success must be fortified by direct engagement and leadership from the C-suite. Leaders must live the mindset expected of their employees; this can be done through a regular cadence of meetings where this commitment to constant adaptation and sustainable growth can be demonstrated and nurtured. High-potential employees are thoughtfully placed in Lean assignments throughout the company. Likewise, training on continuous improvement must be made regularly for all managers and employees, with rewards and compensation tied to the delivery of lean results.

    4. Organize collaborative, cross-functional teams to streamline processes

    If done right, lean management allows companies to achieve more with less instead of doing more with less. Establishing a smoother, uninterrupted flow of work or materials via the value stream will minimize delays, waste and bottlenecks. To achieve this level of synchronization, siloes must be broken down to make way for a holistic evaluation of all internal operations.

    With engaged participation from various functions, the sequence of activities and processes required to deliver the right product or service to the customer can be assessed and solidified. This holistic perspective is crucial for optimizing value streams, sharing best practices, regular checks and adjustments and future-forward planning. Collaboration across functions also allows for a holistic understanding of company obstacles, methodologies and goals so that employees across the business are aligned on a united, go-forward strategy.

    Related: 5 Ways Lean Teams Can Work Smarter and Get More Done

    5. Foster a culture of continuous improvement and respect

    Continuous improvement is not a fad; it is an ongoing and integral element of operations, depending entirely on the business’s human element. While various technologies are helping to modernize, restructure and simplify processes, we must not take for granted the human touch that is embedded into the nature of all work. Lean principles emphasize respecting and valuing individual employee contributions and engagement and building a culture of continuous improvement through human interaction.

    By encouraging employees to be involved in decision-making, training and support, leaders lay the foundation for a community of people who are personally connected to the customers and their teams and are personally invested in the company’s future.

    Likewise, by fostering a culture of teamwork, empowerment and accountability, leaders can recognize and harness underutilized employee skills for greater success — all of which have been proven to improve retention rates.

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    Jack Truong

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  • Why Successful Collaboration Comes Down to Proper Team Balance | Entrepreneur

    Why Successful Collaboration Comes Down to Proper Team Balance | Entrepreneur

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    The wrong way to approach values is obvious: You’ve seen the movie Office Space when the boss calls everyone together to unveil a new banner on the wall asking, “Is This Good for the Company?” As far as that value exercise goes, everyone looks at the banner, but that’s about it.

    The “right” approach requires more nuance.

    Our company just welcomed five corporate cultures under its single umbrella. After nearly three decades of working alongside the company’s founders, most people could articulate our values very well. Only when our newly incorporated team members asked us to point to behaviors demonstrating how we live out those values in practice did we realize that we couldn’t point to anything concrete enough for them to “get it.” Employees want employers to represent their ethics and values to stay engaged. We knew we needed to fix this.

    Intentional values prevent misalignment around company non-negotiables and can guide employee action and collaboration in the right direction. Still, defining and aligning the various departments of a company around those core values is more complex than it sounds; the task is even more challenging when merging multiple companies.

    Related: How Collaboration Can Help Drive Growth and Propel Your Business to New Heights

    Over-communicate, then communicate again

    Part of my work in M&A is ensuring that our people’s experiences with the company are consistent. If I visited one of our offices in Australia or Japan, they would feel like part of the same world. Most of that came through working alongside the company’s founders and absorbing their approach to making decisions by osmosis. Sure, we articulated our values in onboarding materials. We offered some swag and other replicated forms of them in our recognition programs. Still, we mostly took that tacit learning from the company’s culture carriers for granted and developed little else to reference our values in action beyond that.

    This five-company merger was an “ah ha!” moment that made us reconsider how we communicated our values, and they still hold up after all this time. Without clear communication and explicit practical applications, it would be only natural that people bring their old ways of operating into a new company, even without realizing it. If we want to carry values forward as we merge companies or aim to break down silos, we need to embed them across the employee journey at every touch point in both words and action.

    Consider values in the hiring experience — how we describe the position in the job post and our interview questions for potential candidates. If one of our stated values is collaboration, we might ask them to describe when they successfully collaborated on a project and, more importantly, when it wasn’t. Seek to hire people who understand and appreciate those intrinsic values and spend time discussing them in all onboarding sessions globally. People can be talented but not always aligned, so figure out what’s non-negotiable and ask questions about what matters to them, and you’ll soon see if they “get it.”

    Related: 10 Simple Steps to Build an Exceptional and Efficient Team

    Live, not laminate

    It takes more than coffee mugs, posters and pieces of flair to align everyone around a company’s values: We need to be able to attribute behaviors to them. If a company says they’re “people-centric,” it should showcase this in an actionable way — performance evaluations that allow employees to tell their own stories rather than their performance review happening to them; benefits that provide coverage for the whole family; meetings that regularly represent that value as a theme or recognize someone who exemplifies them. At our company, we have a Kudos chat where, every week, people acknowledge when they have observed someone’s behavior that directly aligns with our values.

    Leaders must ensure people live, feel and see their company values repeatedly. In a 2022 survey of U.S. and U.K. employees, respondents were likelier to stay with an employer whose values align with theirs. Still, almost half would consider leaving a company if its leadership fails to act by them.

    When we give people examples of living our values, they have more reasons to discuss them. Over time, stories get retold and cement themselves into company lore. When a customer attempted to return two tires to the local Nordstrom retailer in Fairbanks, Alaska, the clerk called, researched tire prices and processed the refund despite Nordstrom never selling tires. Nordstrom’s legendary tire story demonstrates the brand’s dedication to living its value of customer service.

    Related: 3 Ways to Foster Trust and Communication During a Global M&A

    Evaluate and evolve

    After almost 30 years, our company has gone through many chapters, and what was right in the past needs to be constantly reexamined to ensure we are still true to our word.

    One of the companies we acquired had active and illustrative values, including “create success” and “be brave.” Their values were strong and actionable: Someone who needed to make a critical decision on a Friday afternoon with no one else around could recall the value “be brave” and go for it. So, we are taking this moment to evolve our values to match the company’s evolution. We’re reevaluating the original company values and if they still hold. The core ones, like respect and integrity, will remain, but in our 25+ years later, some values may not be quite right.

    Ultimately, most values aim toward the same ends — respect, integrity and a feeling of trust and belonging. Focus on four or five values that answer the question, “What do we believe in that will help us make better decisions?” Then, make leadership decisions that reflect them. Trust is built when people see their leadership standing by those values. Even when merging five companies into one, strong values enable a healthy culture that ensures that people are motivated, engaged and committed to work every day to deliver the results for the company.

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    Victoria Maitland

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  • How to Create Consistent Branding That Sticks | Entrepreneur

    How to Create Consistent Branding That Sticks | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    In the business world, having a consistent brand identity can set your enterprise apart from the competition. However, many companies grapple with a chaotic brand image that leaves customers unsure of their core identity.

    By finally injecting your brand with some consistency at a planning level, you can finally give yourself an advantage that’s difficult for other competitors to match.

    Why consistency matters

    Everyone wants to talk about the “sexy” parts of branding – logo design, taglines, and color schemes. But flashy marketing doesn’t provide much value without consistency.

    Brand consistency, which is essentially the degree to which your brand is what it says it is at all times, is vital for a number of reasons. Here are a few:

    1. Recognition — For starters, a consistent brand is much more recognizable than one that makes things up as it goes. While you might not ever have the widespread recognizability of a Coca-Cola or Google, your commitment to brand consistency can give you recognition within your corner of the market. The more people see the same logos, colors, and messaging, the more they feel like they know your brand.

    Related: Why Problems Are More Powerful Than Products

    2. Credibility — A consistent brand helps build trust with your customers. If your brand delivers the same message and values across all touchpoints, it comes across as reliable and credible. On the contrary, inconsistent branding can lead to confusion and distrust.

    Related: Nearly 3 out of 4 Marketing Professionals Use AI to Create Content, New Study Shows

    3. Efficiency — Don’t underestimate the efficiency that consistency breeds. When you have defined guidelines of what to follow, it requires less time and effort to create new content or brand assets. Everything is in one place and is easy to find.

    There are plenty of other benefits – including customer loyalty, professionalism, and carving out a competitive advantage over less organized and consistent competitors – but these three should be enough to convince you to get better at improving your consistency.

    Practical ways to give your brand some consistency

    The need for consistency is clear. The question is, what do you do with it? Here are several practical ways to begin giving your branding a little more consistency as you push toward a competitive advantage in this area.

    1. Take inventory — The foundation of a strong, consistent brand lies in clearly defining your mission and vision. Your mission statement is a brief description of your business’s purpose and the value it brings to customers, while your vision statement is a forward-looking declaration of what you aim to achieve in the future. Ensuring that these two elements align not only provides a roadmap for your business strategy but also gives your brand a solid identity around which you can build a consistent brand image.

    2. Establish a visual identity — Your brand identity runs deep. However, the surface-level stuff matters more than most brands realize. For example, your color palette should reflect your brand’s personality. Colors evoke emotions and associations, so you don’t want to mess this up. Blue gives off vibes of rust and reliability. Green is associated with sustainability and nature. Red is used for passion or urgency. Do your colors align with your identity?

    Related: Don’t Do These 3 Things on LinkedIn. Recruiters Will ‘Spot Them From a Mile Off.’

    3. Get clear on your voice —Treat your brand like a person. Think about its voice – and don’t deviate from that voice. To find and define your brand voice, consider your brand’s personality, mission, and target audience. Are you formal or casual? Serious or playful? Irreverent or respectful? Your answers to these questions will shape your brand voice. It’s important to keep this voice consistent in all communication to maintain a cohesive brand image.

    4. Develop brand guidelines — Once you’ve taken some time to understand your brand and get clear on some of the key components, you’ll want to consolidate all of this information into a single document. We call these brand guidelines. To create your own set, start by outlining your mission, vision, and unique value proposition. Then, detail your visual identity, including your logo usage, color palette, typography, and imagery. Next, define your brand voice and provide examples of how it should be used across various platforms. Finally, consider including a section on what not to do to prevent misinterpretation.

    Is this a comprehensive look at what it takes to develop a consistent brand? Absolutely not. But it is a great launching pad to help you build some momentum in the right direction. From here, you can further flesh out the details.

    Putting It all together

    Giving your brand some consistency takes work. It’s not something you can do overnight and forget about. It requires a steady, long-term commitment to get right. However, if you implement some of the tips outlined above, you’ll have a massive head start. Good luck!

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    Under30CEO Staff

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  • How to Work With Introverts at Work | Entrepreneur

    How to Work With Introverts at Work | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    There are a lot of ways to make friends and influence people while at work. And when it comes to the more introverted side of the office, there are a handful of small things you can do to show you care and are trying to make others comfortable. It’s been debunked over and over that introverts hate socializing or they are super shy. Instead, a lot of situations — especially in the workplace — cater towards extraverted people.

    I’ve worked with a lot of different people on both sides. Here are my nine best ways to help create an environment where introverts feel safe and can thrive.

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    John Rampton

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  • 10 Simple Ways to Build a Collaborative and Efficient Team at Work | Entrepreneur

    10 Simple Ways to Build a Collaborative and Efficient Team at Work | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s rapidly evolving business landscape, the importance of building an exceptional work team cannot be overstated. A high-performing team can drive innovation, increase productivity and ultimately improve business outcomes.

    As someone who’s both built great teams and failed at doing so, I understand teamwork’s critical role in achieving success. In this article, we’ll explore solid factors that contribute to building an exceptional work team and provide actionable steps to help you create a winning formula for your organization.

    1. Establish a clear vision and purpose

    The foundation of any successful team is a clear and compelling vision. This vision should define the team’s purpose and inspire and motivate its members. To create a strong vision, consider the following:

    • Align the team’s goals with the organization’s mission and strategy.
    • Ensure that every team member understands their role in achieving the vision.
    • Communicate the vision regularly and consistently to maintain focus and motivation.

    2. Recruit the right talent

    An exceptional team consists of diverse individuals who bring unique skills, experiences and perspectives to the table. When recruiting team members, focus on the following:

    • Look for candidates with complementary skill sets that will enhance the team’s overall capabilities.
    • Consider cultural fit and how well a candidate’s values align with the organization’s.
    • Don’t be afraid to hire people who may challenge the status quo, as they can often drive innovation and improvement.

    Related: Diversity in the Workplace: Benefits and Why You Need It

    3. Cultivate a culture of trust and mutual respect

    Trust and mutual respect are essential elements of a high-performing team. To foster these qualities, consider the following:

    • Encourage open and honest communication among team members.
    • Create an environment where mistakes are seen as learning opportunities rather than failures.
    • Recognize and celebrate the achievements of individual team members and the team as a whole.
    • Address conflicts and disagreements promptly and constructively.

    4. Emphasize effective communication

    Clear and open communication is vital for any team to function at its best. To promote effective communication, consider the following:

    • Provide regular opportunities for team members to share updates, concerns, and ideas.
    • Implement tools and processes that facilitate efficient communication, such as project management software or team messaging platforms.
    • Encourage active listening and ensure every team member feels heard and understood.
    • Foster a culture of feedback, both positive and constructive, to help team members grow and improve.

    5. Encourage collaboration and teamwork

    Exceptional teams excel at working together to achieve their goals. To encourage collaboration and teamwork, consider the following:

    • Assign tasks and projects that require cross-functional collaboration, allowing team members to learn from one another and build stronger working relationships.
    • Create opportunities for team members to socialize and bond outside of work, such as team-building events or informal gatherings.
    • Recognize and reward collaboration and teamwork in performance evaluations and promotions.

    Related: Six Tactics To Improve Collaboration For Remote Teams

    6. Provide opportunities for growth and development

    To maintain a high-performing team, investing in your team members’ professional growth and development is essential. Consider the following:

    • Offer training and development programs that align with the team’s and the organization’s needs.
    • Encourage team members to pursue new skills and knowledge through conferences, workshops, and online courses, provide regular performance feedback and create individual development plans to help team members reach their full potential.

    7. Set clear expectations and hold team members accountable

    A high-performing team requires clear expectations and accountability. You can do this by clearly defining each team member’s roles and responsibilities and establishing measurable goals and objectives for the team to work towards.

    Related: Set Yourself Up for Success By Setting Expectations

    8. Foster a culture of innovation and continuous improvement

    Exceptional teams are always looking for ways to improve and innovate. To foster this mindset, consider the following:

    • Encourage team members to experiment with new ideas and approaches.
    • Provide resources and support for team members to pursue innovative projects or initiatives.
    • Recognize and celebrate successes, as well as learn from failures.

    9. Be adaptable and resilient

    Adaptability and resilience are crucial for any team in today’s fast-paced business environment. To develop these qualities, consider the following:

    • Encourage team members to embrace change and view it as an opportunity for growth.
    • Develop contingency plans to help the team navigate unexpected challenges or setbacks.
    • Foster a culture of optimism and positivity, even in the face of adversity.

    Related: Resilience Is One of the Most Essential Entrepreneurial Traits. Practicing This Can Help You Build It.

    10. Lead by example

    As a leader, your actions and behaviors set the tone for your team. To create an exceptional work team, lead by example and embody the values and attributes you want to see in your team members.

    Building an exceptional work team takes care, emotional intelligence, and time. By focusing on these key factors and implementing the actionable steps outlined in this article, you can create a high-performing team that drives innovation, increases productivity and ultimately leads to better business outcomes — and better still, you’ll have amassed a group of genuine allies and collaborators.

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    Christopher Massimine

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  • How Partnerships Can Grow Your Business in Challenging Times | Entrepreneur

    How Partnerships Can Grow Your Business in Challenging Times | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In times of economic uncertainty and market challenges, businesses face tough decisions to ensure their survival and growth. While raising capital and adopting a “cockroach” approach may be viable strategies, another path to success lies in forging strategic partnerships.

    These alliances, when well-aligned and executed, have the potential to accelerate business growth and create a competitive advantage. In this article, I’ll explain how strategic, synergistic partnerships can unlock growth for your business and provide a few examples of brands that have seen great success from their own partnerships.

    Related: How Investing in Strategic Partnerships Can Help Grow Your Business

    The Apple-Nike success story

    Strategic partnerships offer a unique opportunity for businesses to leverage complementary strengths and resources, enabling them to achieve growth and overcome market obstacles. In bear markets, where funding may be scarce or uncertain, partnerships can provide a valuable alternative to traditional financing. By pooling together expertise, technologies or customer bases, companies can tap into new markets, access additional resources and drive innovation.

    One notable example of successful strategic partnerships is the collaboration between Apple and Nike. By combining Apple’s expertise in technology and design with Nike’s domain knowledge in sports and apparel, they created the Nike+iPod ecosystem. This partnership allowed Nike to integrate Apple’s technology into their footwear, enabling runners to track their workouts using iPods and Nike+ running shoes.

    The partnership propelled Nike’s brand recognition and sales, while Apple expanded its reach into the fitness market. This mutually beneficial alliance demonstrated how strategic partnerships can enhance product offerings, attract new customers and drive revenue growth.

    Identifying the right strategic partners is a crucial step in building successful alliances. Businesses should look for partners that share similar values, goals and target markets. The alignment of visions and values lays the foundation for a strong partnership and ensures a harmonious working relationship.

    Additionally, partners should bring complementary strengths and capabilities to the table, filling gaps and enhancing each other’s offerings. This synergy allows businesses to expand their reach and deliver more value to customers.

    Related: Don’t Go It Alone: How to Use Partnerships as a Growth Strategy

    The Spotify-Uber connection

    When implementing strategic partnerships, it is essential to establish clear goals, roles and expectations from the outset. By defining these parameters, companies can ensure alignment and avoid potential conflicts down the line.

    Moreover, effective communication and transparency are vital for maintaining a healthy partnership. Regular updates, progress reviews and open dialogue foster trust and enable partners to address challenges and seize opportunities together.

    Another successful example of a strategic partnership is the collaboration between Spotify and Uber. By integrating their platforms, Spotify and Uber provided an enhanced experience for users. Uber passengers gained control over the music played during their rides, while Spotify gained access to millions of potential new users.

    This partnership not only increased user engagement but also allowed both companies to tap into each other’s loyal customer bases. It highlights the power of partnerships in expanding market reach and enhancing the value proposition for customers.

    Related: 10 High-Profile Brand Partnerships That Struck Gold

    The Coca-Cola-McDonald’s connection

    One of the most iconic and successful strategic partnerships in the food and beverage industry is the collaboration between Coca-Cola and McDonald’s. This partnership showcases the power of collaboration and the impact it can have on both companies’ growth and success.

    Coca-Cola, a global leader in the beverage industry, recognized the opportunity to leverage McDonald’s extensive global footprint and strong brand presence. By partnering with McDonald’s, Coca-Cola secured a prominent place on the menu of one of the world’s largest fast-food chains, gaining access to millions of customers on a daily basis. This partnership not only increased Coca-Cola’s market reach but also provided McDonald’s with a trusted and beloved brand to enhance their beverage offerings and satisfy their diverse customer base. Together, they created a synergistic combination that elevated the dining experience for customers.

    Beyond the product aspect, this partnership involved joint marketing initiatives, co-branded promotions and shared resources. The synergy between Coca-Cola’s marketing expertise and McDonald’s extensive reach allowed both companies to amplify their messages and strengthen their brand presence in the market. By collaborating closely, Coca-Cola and McDonald’s aligned their goals, ensuring a seamless integration of their products and marketing strategies. The partnership brought mutual benefits in terms of increased sales, brand visibility and customer satisfaction.

    The Coca-Cola-McDonald’s partnership serves as a testament to the importance of partnerships in driving growth and delivering value to customers. It highlights the significance of leveraging complementary strengths and resources to create a win-win situation for all parties involved.

    In today’s competitive business landscape, strategic partnerships have become increasingly crucial for companies seeking to expand their market presence and drive innovation. By embracing collaboration, businesses can tap into new customer segments, access additional resources and create mutually beneficial opportunities for growth.

    Looking forward

    Growing through strategic partnerships can be a viable and impactful strategy in tough times. By forging alliances with like-minded and complementary partners, businesses can leverage shared resources, accelerate growth and navigate challenging market conditions. Successful partnerships require careful evaluation, alignment of goals and effective communication. Identifying partners who align with your vision, bring complementary strengths and share similar values is key to unlocking the full potential of a strategic partnership.

    By embracing the power of partnerships, businesses can overcome obstacles, create new opportunities and thrive in the face of adversity.

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    Will Fan

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  • 10 Questions to Ask Yourself to Make Meetings More Productive | Entrepreneur

    10 Questions to Ask Yourself to Make Meetings More Productive | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Inclusive meetings boost innovation, decision making and business results. By actively involving all participants, you unlock a wealth of diverse ideas, insights and solutions. Inclusive meetings promote creativity, innovation and problem-solving. As different perspectives are shared, the group elevates their thinking and grows beyond status quo superficial ideas and solutions. Inclusive meetings contribute to a positive and inclusive culture, where individuals feel respected, valued and more engaged.

    Yet, most meetings aren’t inclusive. How do you know if your meeting is exclusive?

    • The same people dominate discussions
    • People are interrupted frequently
    • The right people aren’t in the room
    • It’s all presentation and no discussion
    • There is a lack of clear next steps and purpose

    The role of a meeting facilitator is critical to inclusive meetings. The challenge is most people aren’t trained or developed to have inclusive meetings. They learn non-inclusive behaviors modeled by other leaders and perpetuate the same vicious cycle.

    Consider these 10 prompts to drive more inclusion as a facilitator:

    1. Have you shared and asked for feedback on the meeting’s purpose and agenda in advance?
    2. Is everyone at the meeting necessary to fulfill the purpose? (marking people optional on a meeting is a great best practice)
    3. Do you have an inclusive icebreaker exercise to kick off?
    4. Is discussion necessary to debate, brainstorm or problem solve vs. present only?
    5. Do you have mechanisms (polls, chat, notes) to facilitate discussion?
    6. Have you set norms to rotate speaking roles so that everyone feels psychologically safe speaking at the meeting?
    7. Are you rotating note-taking responsibilities from previous meetings?
    8. Do you have a plan to facilitate discussion if team members do not speak up or speak too much?
    9. Did you set the next steps and assign them to team members?
    10. Do you have an accountability plan to ensure the next steps are completed prior to the next meeting?

    If you didn’t fair well on the checklist, you’re not alone. Most meetings do not reach 50% of this criteria most of the time. To boost inclusion at your next meeting, consider these ideas:

    • Have a pre-work exercise to stimulate thinking in advance
    • Start the meeting with an icebreaker to learn more about team members
    • Rotate key roles intentionally at the meeting to evenly distribute participation

    Related: Make Sure Your Meetings Don’t Waste Everyone’s Time by Doing These 10 Things

    Have a pre-work exercise to stimulate thinking in advance

    Sometimes, people may feel hesitant to speak up during meetings due to time constraints or fear of being put on the spot. Encourage more introverted participants to share their ideas or questions before the meeting, either through email or collaboration tools. This approach provides an opportunity for everyone to contribute, even if they’re not comfortable speaking up during the meeting itself.

    It’s a good idea to keep timing in mind. Limit pre-work to a task that takes no more than 10 minutes with clear expectations such as reading this article and coming prepared to discuss your biggest takeaway or watching this video and picking one example that resonated with you and works well. This starts the meeting on an equal playing field where all team members are prepared to engage.

    Start the meeting with an icebreaker to learn more about team members

    For an icebreaker to be inclusive, be mindful of the implications of class, race, gender and other dimensions of diversity. Even well-intentioned icebreakers can reinforce stereotypes or preclude people from the very conversation they’re hoping to create. For example, travel experiences or activities that require socioeconomic status can be limited to participants and may be of a lower class which is often correlated to other dimensions of diversity.

    Examples of inclusive icebreakers could be a short simple share about a positive event that happened at work, something people might misunderstand or not know about you yet, or a two-word emotional check-in on how your day is going. These quick shares generate discussion and make it more likely that team members will participate inclusively in the remainder of the meeting.

    Related: Having Trouble Speaking Up in Meetings? Try This Strategy.

    Rotate key roles intentionally at the meeting to evenly distribute participation

    Non-promotable tasks or administrative tasks like note-taking, food preparation or social event organization largely fall on women and people of color. Watch out for how these important yet not highly valued tasks are distributed. A best practice is to be mindful of the administrative tasks necessary for the meeting to be successful and intentionally rotate them to different people each time. If someone says they’re not good at taking notes, ask them to practice and learn. Set the norm for everyone to participate in these tasks. This has a ripple effect on fairness and respect as people learn that everyone’s role is equally valued.

    By intentionally distributing these responsibilities, you create a more inclusive dynamic where everyone has an opportunity to contribute beyond their designated roles. It also helps challenge traditional power dynamics and fosters a sense of shared ownership and accountability.

    Inclusive meetings are not just a buzzword; they are a powerful tool for unlocking the full potential of your team or group. By actively involving all participants, valuing diverse perspectives and creating a safe and respectful environment, you can harness the collective intelligence and creativity of your team. As a meeting facilitator, it’s crucial to be mindful of inclusive practices, rotate roles and responsibilities and create opportunities for everyone to contribute. By embracing inclusivity, you can drive innovation, better decision-making and improved business results.

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    Julie Kratz

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  • Why the Most Successful Entrepreneurs Don’t Do It Alone | Entrepreneur

    Why the Most Successful Entrepreneurs Don’t Do It Alone | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Over the last several months, I have been deeply immersed in the Goldman Sachs 10k Small Businesses (10KSB) accelerator program. In partnership with Babson College, Goldman Sachs developed an in-depth curriculum that requires small business owners, or “scholars,” as we are called during the program, to take a deep look at each aspect of our businesses and our leadership styles.

    Goldman Sachs developed this program with the belief that small businesses are the economic engine of the American economy and that the stronger those businesses are, the stronger and more resilient the American economy will be. This is particularly important today as we face tremendous economic uncertainty.

    The program curriculum was demanding and required a significant time commitment. The result was a 70-page, comprehensive business plan. The business plan was tangible evidence that my fellow scholars and I completed the program and dug into the guts of our business. We each identified a “Growth Opportunity” and created a detailed plan to capture that opportunity.

    Related: Going Alone in Business? 5 Reasons That’s a Really Bad Idea.

    But to be clear, the plan was not strictly the result of the program curriculum. It was also the result of the invaluable network of hundreds of small businesses from every state in the union in my Goldman Sachs cohort and the alumni of over 13,000 small business owners that now make up my community.

    As I sit at my computer today and pour through my company’s daily, weekly, and monthly financial reports, it is increasingly evident that I cannot do this alone. Like business leaders everywhere, I am concerned about the realities of the economy, the supply chain, access to capital and all the myriad factors that affect my business, which I have no control over. The one fact that is crystal clear to me is that, as small business owners, we need to join forces.

    There is power in numbers. Small businesses are successful when we work together and take advantage of each other’s strengths. Diverting focus from our core business to spend time on our own every internal business process is costly and wastes time. This point was stressed time and time again over the nine months I was in the program.

    If marketing isn’t your core business, find and hire a small business specializing in the marketing type you need to get the message out to your customers. Hire those services you need from another small business so that you can focus. If distribution isn’t your core business, find and hire a business that specializes in logistics. And the list goes on and on. If we are intentional about looking for other small businesses to provide the services we need so we can focus, we can find virtually anything.

    Related: Follow Your Entrepreneurship Path But Don’t Do It Alone

    Spending money is one of the most terrifying things for a small business owner. Like many of you, I look at the bank account and think I can’t afford to hire an outside service to do this. I will do it myself and save money. Here is the rub, how much time and effort am I wasting learning something new? What is my time worth? What if I could spend my time focused on what I do best, on my core business competency? Would that pay for the additional cost of a service?

    I have been forced to take a tough look at my business in a new way. It is not that I suddenly realized that I had better cash flow and could outsource things. I didn’t, and I can’t. But it costs money and lost opportunity when my key employees or I spend time on things that don’t fall within our immediate business and enhance our offerings.

    I will give you a perfect example. I have years of experience in marketing, but marketing is not my core business today. I lead an ecommerce platform for women-owned businesses. The last thing I thought I needed to spend money on was marketing. I have done it for years and know how to identify my target audience and what channels to use to reach them. I have actively resisted my team’s push to hire marketing services. What I didn’t factor in is how much time my co-founder and I spent on marketing execution rather than focusing on building our sales platform.

    Related: Entrepreneurs, You Can’t Handle Everything at Your Startup

    My core business is NOT marketing execution, so why do we have one of the most valuable members of the team spending hours a week focused on it? We need to find a small business whose specific business is marketing execution for direct-to-consumer companies like mine and hire them. I am confident that freeing my co-founder up to focus on building our core offering will enable us to pay for the cost of the outsourced marketing execution.

    The bottom line is that, as small business owners, we can’t do it alone. As the uncertainty in the economy continues, capital is harder to access, and consumers reduce spending, the best thing I can do is surround my business with experts focused on how to grow and invest back into our communities.

    Small businesses have long been the American economy’s growth engine; for this to continue, we need to fuel economic stability and growth by investing and supporting one another. I am fortunate to have been able to participate in an accelerator program that jump-started my network. But there are many places where small businesses can and should connect. Your local Chamber of Commerce is a great resource, as is the Small Business Administration and industry affinity groups with chapters nationwide.

    We can’t do it on our own! And the good news is we don’t have to. Find a hire a small business expert so you can focus on your core business and grow!

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    Kate Isler

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  • What New Aviation Trends Can Teach Us Running a Business | Entrepreneur

    What New Aviation Trends Can Teach Us Running a Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The aviation industry is transforming thanks to the entrepreneurial spirit of individuals and companies launching their own MRO services in Europe. These entrepreneurs are disrupting traditional norms and bringing fresh perspectives to the industry. With a focus on innovation, specialized services and customer-centric approaches, they drive growth, deliver value and shape the future of aviation in Europe.

    MRO services, or Maintenance, Repair and Overhaul services, refer to a range of activities involved in the maintenance and upkeep of aircraft, ensuring their safe and efficient operation. These services encompass inspections, repairs, upgrades and overhauls of various components and systems within a plane. MRO services cover both routine maintenance tasks and more complex repairs or modifications.

    MRO services are critical for maintaining the airworthiness and reliability of aircraft throughout their operational lifespan. They involve comprehensive checks and inspections to ensure compliance with regulatory standards, identify potential issues and address required repairs or replacements. Additionally, MRO services encompass the management and sourcing of spare parts and the implementation of safety and performance enhancements.

    In this article, we will explore the advantages these entrepreneurs bring to the MRO sector, their innovative approaches and what they can teach us about collaboration and innovation.

    Related: Why the Drone Startup Market Holds Real Economic Potential

    Identifying niche markets and specialized services

    One of the key advantages that entrepreneurs bring to the MRO sector is their ability to identify untapped niche markets and offer specialized services tailored to specific aircraft types, customer segments, or regional needs. By conducting thorough market research and understanding the unique demands of these niche markets, entrepreneurs can position themselves as experts in their respective domains. This allows them to provide highly specialized and targeted services that meet the specific requirements of their clients.

    For example, entrepreneurs may focus on servicing particular aircraft models, such as regional or business jets and develop deep expertise in maintaining and repairing these aircraft. By concentrating their efforts on a specific market segment, they can differentiate themselves from larger MRO providers and offer their clients a more personalized and tailored experience. Furthermore, entrepreneurs may also identify regional needs, such as specialized maintenance services for aircraft operating in harsh climates or remote locations, and develop capabilities to address these specific requirements.

    Embracing technological advancements for efficiency

    Entrepreneur-led MRO services prioritize technology adoption to optimize operations, reduce downtime and improve maintenance processes. They understand that leveraging technology is crucial to staying competitive and providing efficient and cost-effective client services.

    One area where technology has made a significant impact is advanced analytics. By harnessing the power of data, entrepreneurs can analyze historical maintenance records, track performance trends and predict potential issues before they become critical. This proactive approach to maintenance allows for preventive measures to be taken, reducing the risk of unexpected failures and minimizing costly downtime. Predictive maintenance solutions enable entrepreneurs to schedule maintenance tasks based on actual equipment conditions, optimizing resource allocation and streamlining operations.

    Additionally, entrepreneurs are exploring using automation and robotics. Robotic systems can perform repetitive tasks with precision and speed, freeing up skilled technicians to focus on more complex and critical activities. Automation not only enhances efficiency but also improves safety by reducing human error.

    Furthermore, entrepreneurs invest in digital platforms and cloud-based systems to streamline communication, documentation and workflow management. These technologies enable seamless collaboration among team members, enhance data accessibility and facilitate real-time information sharing with clients. By embracing these technological advancements, entrepreneurs are able to deliver faster services and provide a higher level of transparency to their clients.

    Related: Where Did Go First Go Wrong & What Should Airlines Learn From It?

    Customer-centric approaches and enhanced service

    Entrepreneurs in the MRO sector prioritize customer satisfaction by offering personalized services, quick turnarounds and customized solutions. They understand that each client has unique needs and requirements, and they strive to provide a tailored experience that goes beyond the standard MRO services.

    Entrepreneurs foster close relationships with their clients, taking the time to understand their business objectives and aligning their services accordingly. They act as partners rather than just service providers, working collaboratively with clients to develop innovative solutions that address their specific challenges and goals. By actively listening to their clients, entrepreneurs can anticipate their needs and provide tailored recommendations and strategies to optimize their fleet’s performance and minimize operational disruptions.

    In addition to personalized services, entrepreneurs in the MRO sector are known for their quick turnaround times. They understand the importance of minimizing aircraft downtime, as it directly impacts their clients’ profitability and operational efficiency. Through streamlined processes, efficient resource allocation and effective project management, entrepreneurs are able to complete maintenance and repair tasks in a timely manner, getting their clients’ aircraft back in the air swiftly.

    Fostering collaboration and driving innovation

    Entrepreneurs understand the power of collaboration and actively seek partnerships with industry stakeholders to foster innovation and drive continuous improvement. By connecting with aircraft manufacturers, suppliers, regulatory bodies and other MRO service providers, entrepreneurs create an ecosystem of knowledge sharing and collaboration.

    Through these collaborations, entrepreneurs gain access to the latest industry trends, emerging technologies and best practices. This enables them to stay at the forefront of innovation and offer cutting-edge solutions to their clients. By challenging traditional practices and exploring synergies with their partners, entrepreneurs push boundaries and create novel solutions to address industry challenges.

    Furthermore, entrepreneurs often invest in research and development initiatives to drive innovation within their own organizations. They allocate resources to experiment with new technologies, test alternative maintenance methods and explore novel approaches to optimize MRO processes. This commitment to innovation allows them to constantly evolve and adapt to the changing needs of the aviation industry.

    Entrepreneurs launching MRO services are reshaping the aviation industry through their innovative approaches, specialized services and customer-centric focus. By identifying niche markets, embracing technological advancements and fostering collaboration, these entrepreneurs drive growth and shape the future of MRO services. Their ability to offer specialized services tailored to unique market segments, leverage technology for efficiency and cost savings, provide personalized and timely solutions and foster collaboration for innovation sets them apart from their competition.

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    Henri Al Helaly

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  • Why You Need Your Employees’ Help to Create a Winning Return to Office Plan | Entrepreneur

    Why You Need Your Employees’ Help to Create a Winning Return to Office Plan | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Picture this: You’ve just spent a year working remotely, and now your company is transitioning to a hybrid work model. Yet they’ve not asked you to help create this model: no surveys, no focus groups, no all-hands meetings where you had a voice. How would you feel? Probably the way many employees at Amazon, Starbucks, Disney, Apple, and Lyft do: outraged and frustrated, resistant and non-compliant.

    Imagine wearing a suit tailored for someone else. It’s uncomfortable and ill-fitting, isn’t it? That’s precisely what happens when organizations impose a one-size-fits-all hybrid work model upon their employees. In a recent Gartner survey, 14% of digital workers prefer their hybrid work environment to be mandated. However, the majority (77%) desire a say in creating their hybrid work model.

    It’s crucial for leaders to let their employees co-create the hybrid work model, as I always tell my clients, in the return to office. Why? Because engagement, retention and productivity are at stake — and that means the future of your company.

    Hybrid work models: One size doesn’t fit all

    Just like an orchestra with musicians playing different instruments, a hybrid workforce consists of employees with varying needs and preferences. The key to a harmonious performance is a conductor who allows each musician to contribute their expertise and create a masterpiece. In the same vein, when organizations involve employees in designing their hybrid schedules, they unleash the potential for a truly harmonious work experience.

    Organizations must acknowledge that employee needs have shifted and respond thoughtfully to maintain productivity and avoid attrition. After all, a well-tailored suit makes you feel confident and ready to conquer the world. By co-creating a hybrid model, employees feel more invested in their work, driving their engagement and productivity to new heights.

    Finding the right hybrid model is like cooking the perfect dish. It requires the right mix of ingredients, tailored to individual tastes, to create a delectable culinary experience. When employees contribute to designing their hybrid schedules, they can find the perfect balance between remote work and in-office days, catering to their personal and professional needs. This results in a more satisfied, motivated and productive workforce.

    A successful hybrid model is like a well-prepared potluck, where everyone brings their favorite dish to the table. By encouraging employees to participate in creating their hybrid schedules, organizations foster a sense of collaboration and mutual understanding. This leads to a more engaged workforce, as employees feel their opinions are valued and taken into account.

    Additionally, involving employees in the process promotes trust and transparency. This level of openness can reduce the likelihood of miscommunication or misunderstanding, further boosting employee satisfaction and commitment to the organization.

    Related: You Should Let Your Team Decide Their Approach to Hybrid Work. A Behavioral Economist Explains Why and How You Should Do It.

    Unleash the power of the perfect hybrid meeting

    If hybrid meetings were a dish, they’d be a poorly mixed salad, with soggy lettuce and too much dressing. They’re ranked as the second-least productive type of meeting by the respondents to the Gartner survey, with 47% of digital workers preferring virtual meetings with audio and/or video. In-person meetings, on the other hand, are seen as the most productive (46%). It’s time to make hybrid meetings as appetizing as a well-prepared meal.

    Digital workplace leaders must facilitate productivity in hybrid meetings by ensuring all participants can see and hear everyone clearly, interact with in-meeting content sharing and conversation, join with just one button or link, and seamlessly move across operating systems and devices. So, let’s toss that salad properly and enjoy every bite.

    By allowing employees to contribute to shaping their hybrid work model, organizations can better understand their employees’ preferences when it comes to meetings. This, in turn, can help refine the approach to hybrid meetings, making them more effective and enjoyable for all involved. When employees have a say in crafting their hybrid schedules, they can better balance their time between virtual and in-person meetings, optimizing productivity and engagement.

    Employee monitoring: The double-edged sword

    Employee monitoring is like having a camera crew following you around, capturing your every move. It can be invasive and disconcerting, especially when it’s driven by mistrust. However, when approached with the highest level of trust, employee monitoring can provide valuable insights into productivity and work outcomes. In fact, the Gartner survey finds 96% of employees are more willing to accept monitoring if it leads to assistance that benefits them. So, let’s turn that invasive camera crew into a supportive production team.

    Progressive organizations are pursuing radical transparency around data collection, giving employees an opportunity to opt-in to information and data gathering. When monitoring is seen as a tool for support rather than control, employees are more likely to embrace it and thrive.

    By involving employees in the development of their hybrid schedules, organizations can foster a sense of trust and collaboration. This, in turn, makes employees more receptive to monitoring initiatives that aim to improve their work experience.

    Return to office: A smorgasbord of motivators

    Returning to the office is like attending a buffet with a diverse array of dishes. Gartner’s survey revealed a variety of motivators for digital workers to return to the office, including “facetime” (40%), workplace amenities (45%), and consequences (10%). Companies need to recognize that different employees have different tastes and should not force them to consume the same bland dish.

    As the workplace evolves, so does the employee experience. HR must partner with digital workplace leaders to craft the desired digital employee experience that caters to individual needs and preferences. When employees can choose their favorite dishes, they’ll be more motivated, engaged and productive.

    Involving employees in the creation of their hybrid schedules allows organizations to better understand their employees’ motivations for returning to the office. This understanding can help tailor the office environment and experience to accommodate the unique needs and preferences of each worker, ultimately increasing employee satisfaction and retention.

    Related: 78% of Employers Are Using Remote Work Tools to Spy on You. Here’s a More Effective (and Ethical) Approach to Tracking Employee Productivity.

    The invisible barriers to co-creation

    When it comes to involving employees in creating their hybrid work schedules, some leaders may unknowingly fall prey to cognitive biases. These mental shortcuts can cloud judgment and hinder effective decision-making, leading to suboptimal outcomes. Let’s examine two specific cognitive biases that may prevent leaders from seeking employee buy-in for co-creating hybrid work schedules: the status quo bias and the empathy gap.

    The status quo bias is a cognitive bias that causes individuals to prefer the current state of affairs over change. It’s like eating the same dish every day because you know you like it, even if there’s a more delicious option out there. This bias can prevent leaders from considering new approaches to hybrid work schedules, as they might feel it’s safer to maintain existing practices.

    Leaders affected by the status quo bias may be reluctant to give employees a say in shaping their hybrid work schedules, fearing that it may disrupt established routines and processes. However, by sticking to the familiar, leaders may overlook the significant benefits of employee engagement, retention, and productivity that come from co-creating hybrid work models.

    To overcome the status quo bias, leaders should remind themselves of the importance of adapting to the changing work landscape and the potential rewards of involving employees in the decision-making process. By embracing change and stepping out of their comfort zones, leaders can create an environment that fosters innovation, collaboration, and success.

    The empathy gap is a cognitive bias that causes people to struggle to understand others’ emotions and needs when they’re not experiencing the same feelings themselves. It’s like trying to describe the taste of a delicious dessert to someone who’s never tried it before. This bias can create a disconnect between leaders and employees, leading to a lack of understanding of the importance of co-creating hybrid work schedules.

    Leaders affected by the empathy gap may underestimate the value that employees place on having a say in their hybrid work schedules, assuming that their preferences align with those of the organization. This could result in a top-down approach to hybrid work models, which may negatively impact employee engagement, retention, and productivity.

    To overcome the empathy gap, leaders should make a conscious effort to empathize with employees and understand their perspectives. This can involve engaging in active listening, seeking feedback and genuinely considering employee input when making decisions about hybrid work schedules.

    By recognizing and addressing the impact of cognitive biases like the status quo bias and the empathy gap, leaders can make more informed decisions and ensure that they’re not inadvertently hindering employee buy-in for co-creating hybrid work schedules. In doing so, they can create an environment that supports collaboration, innovation and growth, setting the stage for a truly successful hybrid work model.

    Conclusion

    The hybrid work revolution is here, and it’s essential for organizations to allow employees to have a say in creating their hybrid schedules. By doing so, they’ll foster engagement, retention and productivity. By transforming hybrid meetings, adopting a collaborative approach to employee monitoring, and understanding the diverse motivators for returning to the office, organizations can create a harmonious and effective hybrid work environment. Co-creating the hybrid work model with employees is like composing a beautiful symphony. It allows each individual to play their part, contributing their unique skills and expertise to create a harmonious and productive work experience. By empowering employees to participate in shaping their hybrid schedules, organizations will reap the rewards of an engaged, motivated, and high-performing workforce, ready to face the challenges of the modern business landscape. Embrace the hybrid work revolution and let your employees be the conductors of their own success.

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    Gleb Tsipursky

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