ReportWire

Tag: Collaboration

  • Why The Demand for Tech Jobs Will Only Get Stronger

    Why The Demand for Tech Jobs Will Only Get Stronger

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In the world of big tech, there have been many hiring freezes and recent layoffs. Many worry that layoffs in this realm signify an impending national economic crisis. Yet, there is hope for tech workers and jobs outside traditional tech giants. Companies outside of big tech are scooping up tech talent to develop their tech infrastructures.

    All in all, don’t expect a slowdown in Information Technology (IT). What you should expect is a redistribution.

    Related: Why The Consumer Tech World Is Too Focused on Electronics

    Current layoffs and “cooling off” in IT hiring are a drop in the bucket amid a global shortage of IT talent

    Three major jobs in the ICT industry are a software developer or engineer, user support specialist and systems analyst. Other positions include project managers, systems engineers, systems administrators and network engineers. High-profile tech layoffs and hiring freezes are masking the job growth and demand that remains in the job market. Many companies outside of the tech sector are hiring tech workers for their digital transformation processes. As a result, the growth rate outside big tech firms is minimally affected.

    Some tech firms’ layoffs, such as those at Stripe and Meta, result from over-hiring. This happened as part of the tech boom that emerged during the COVID pandemic in 2020 and has less to do with the state of our economy. Raising capital is increasingly difficult as these tech firms’ public market valuations decrease. Therefore, they’re switching from a hyper-growth mode to an efficient growth mode.

    Globally, there has been a shortage of tech workers for a while. Management consulting firm Korn Ferry predicts we’ll be short over 85 million tech workers globally by 2030. That’s $8.5 trillion in lost annual revenue. Since technology is rapidly becoming a fundamental element in every operation within any company, there will always be a shortage of highly skilled tech workers, no matter how many companies hire and pay more.

    Related: What the Future Looks Like for Fresh Graduates in the Tech Industry

    Fundamental demand for IT continues to grow

    There is too much work worldwide to build new digital products, rebuild old systems, take advantage of cloud tech and automate human-dependent processes.

    Tech job postings are higher by 25% this year as aerospace, finance and healthcare companies are vying to hire tech talent. And since 2020, tech talents worldwide have been finding work in Canada, specifically in Toronto and Vancouver. One reason for this could be the Trump administration’s tricky immigration policy. Why jump through hoops to work in the US when neighboring Canada has looser guidelines and available work?

    Canada’s tech job growth rate has been outpacing that of the United States. This continues even as cities such as Seattle and San Francisco have tech giants hiring masses of workers.

    Layoffs and freezes will unevenly affect different sectors

    While big tech firms will slow down, other industries (e.g., travel and healthcare) will take advantage, meaning more resources will come in.

    Every laid-off tech worker has a job waiting for them in the United States or elsewhere. Remote work, burgeoning since 2020, has extended the job market and made it possible for people to work anywhere.

    Frankly, some bloodletting is healthy

    Compensation and perks in big tech and Silicon Valley have reached crazy levels. Many believe that the Valley is losing its unique aura. Silicon Valley talent may not be a good fit for “Main Street” and may have little interest in working in such an environment. They will have to adjust, leading to a healthier, adaptable and sustainable tech workforce in the long term. Silicon Valley and New York City, traditional major tech hubs, are cooling down and cutting costs. However, states like Pennsylvania, Arizona, Texas and Florida are seeing tech industry job growth.

    It’s also important to keep the Eastern European IT picture in mind. What is happening now is that Eastern Europe, which was traditionally considered to be the main competitor, is in turmoil because of the war in Ukraine. Although still working and available, Russia and Belarus are no longer in the picture, and Ukraine is a high risk. Poland, Romania, Serbia and Portugal are becoming more expensive because of war and the reduced talent market. This is helping India, always a big IT outsourcing hub, benefit.

    Conclusion

    Labor market conditions are only getting better. Tech is the backbone of every company, whether in consulting, healthcare or aerospace. Displaced big tech workers will turn to companies in other sectors where they’ll still be paid well and expected to work similar jobs. IT jobs were hot and still are because of the law of supply and demand.

    Every company wants to hire the best tech talent. However, there’s only so much talent to choose from. It can get pretty competitive when another company can lure away the tech workers that one company has been eyeing. Let the tech talent wars continue.

    [ad_2]

    Dmitry Bagrov

    Source link

  • 5 Surprising Ways to Increase the Conversion Rate of Your Emails

    5 Surprising Ways to Increase the Conversion Rate of Your Emails

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Did you know that 20% of a brand’s emails will never reach the customer at all? This, coupled with an email provider’s desire to provide the best user experience within the inbox, means that many more are going straight to spam or promotions.

    As email matures as a direct-to-consumer marketing channel, more and more businesses engage in the practice, meaning consumers are more overwhelmed with email marketing than ever before.

    As a natural result, consumers pay less attention to their emails.

    Related: Why Email Marketing Is Better for Your Business Than Social Media

    Marketers and brands work really hard and spend a lot of money to build their email lists, so it’s no big surprise they’re let down when they see open rates between 15% and 25%. Because owning a strong email list can be one of the most important assets for your business, we need to find ways to ensure that emails serve us well.

    Here are five surprising ways you can increase not only your open rates but the conversion rates of your marketing emails as well.

    1. Resend emails to unopens

    For an email to convert, it must first be opened, but most of the emails you send will never be opened.

    In the age of marketing automation, it’s really easy to set up your email sends and then simply let the software do its thing. However, one of the easiest ways to get more opens on your emails is to go in manually and resend them to anyone who didn’t open them at least 24 after the initial send.

    Think about why your email may have been overlooked. Was it sent at an inopportune time of day? Was the subject line less than appealing? Was the sender line too vague?

    The average consumer is inundated with emails spending roughly 5 hours a day in an inbox between work and personal accounts. With all that noise, a great subject line is the best way to capture their attention.

    Very simply, an effective subject line will be short, provide value, express urgency and steer clear of buzzwords. You may not be able to accomplish all this with just a few words, but keep these tips as your north star when crafting a subject line.

    This isn’t something you need to or should be doing for every email you send, but when used strategically, updating and resending your email campaigns will help you to reach more of your list.

    Related: Inbox Zero Is a Fantasy. I’m Trying for Calendar Zero Instead.

    2. Optimize for mobile

    Consumers spend more time on their phones than ever before, which means they’re doing many inbox check-ins on mobile devices. According to Hubspot, most email views (41%) come from mobile devices. Shockingly, 80% of emails being sent are not optimized for mobile.

    Most email providers have a quick and easy function that lets you see how your email will appear on mobile devices as you craft it. You can also send yourself a test email to be sure.

    Use these tools to ensure that your emails look good and load quickly on mobile before you send them.

    Related: 3 Steps to Maximize Your Mobile Email Marketing

    3. Clean your list

    There will come a point when your email list isn’t serving you anymore because a large portion of your audience is either fatigued by your emails or never getting them in the first place. You can expect your email list to depreciate by 22.5% per year.

    Two to four times a year, you should identify the people who never open your emails and remove them from your list to ensure that only those interested in hearing from you are receiving your communications.

    This will dramatically increase your deliverability, open rates and click-through rates. Bonus: It will decrease the cost of your email marketing software.

    4. Build your list

    Because the value of your list is decreasing over time, one of the best ways to increase your emails’ conversion rate is to actively bring in new, engaged leads.

    The most simple and effective way to do this is to create a strong offer, or lead magnet that you know is valuable to your target demographic. Start driving traffic to this offer through paid social ads, brand partnerships and even in-person events.

    Related: How To Start An Email List And Succeed From Day 1

    5. Ask your customers what they want

    As marketers and brand leaders, we often develop our content around what we think our customers should have instead of simply asking them what they want. One of the most simple and effective ways to get more opens and create conversions from your emails is to ask the right questions.

    In addition to asking what kinds of emails they’re most interested in, you can also ask what kind of new product they’d like to see, what their favorite social media platforms and podcasts are, or even what kind of sales they enjoy most.

    All these data points will help inform your product development and marketing strategy in a way that will make a huge difference in your business.

    You can make these customer surveys work for you even further by offering a coupon or discount to anyone who participates — and now you’ve got great data and incentivized your customer to make a new purchase.

    Email marketing has gotten more difficult over the years, but it’s far from ineffective. It’s 40x more effective than social media—and that’s a number no business today can afford to ignore.

    With the right strategies in place, you can use your emails to convert subscribers and generate more revenue for your business.

    [ad_2]

    Shauna Armitage

    Source link

  • 10 Ideas to Drive Your DEI Initiatives in 2023

    10 Ideas to Drive Your DEI Initiatives in 2023

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The new year brings new ideas. Following the tumultuous years of 2020 and 2021 where we saw surges in diversity, equity and inclusion (DEI) efforts at organizations, 2022 saw a slight decline in activity.

    Compare with younger workers under age 35 considering a new job, 80% say that DEI is very or somewhat important, which is 20% higher than past generations. The workforce and customers of the future want more action from organizations.

    2023 comes with renewed energy with headwinds of burnout and slow systemic change. Consider these ideas to drive DEI more at your organization.

    Related: How to Promote Diversity, Equity and Inclusion in Your Workplace

    1. Discuss power and privilege

    The “P” word can be daunting to discuss, yet it is essential to understand to understanding DEI and the power of allies. Privilege is a chance to be an ally for someone different from yourself. It does not mean you are a bad person or that you did not work hard for your accomplishments, it simply means the hardships you faced did not have to do with a part of your identity (race, gender, LGBTQ+, age, disability, etc.)

    All humans experience challenges, it is important to know that some identities experience more challenges based on factors outside of their control. Our favorite way to introduce this is through a privileged activity with statements where people can identify and learn more about their unique privileges as a positive source of power to help others.

    2. Broaden diversity beyond race and gender

    Too often, DEI programs are solely focused on race and gender and alienate the majority group (white men) that feel they are not a part of DEI. When we bring in more layers of identity — neurodiversity, mental health, LGBTQ+, disability, age, social class, education, housing, body size and more — we engage more potential allies in the conversation. We also see the benefits of diversity more clearly when unique perspectives are welcomed and listened to leading to higher rates of innovation and better business outcomes.

    3. Include neurodiversity

    An estimated 15-20% of people worldwide identify as neurodiverse. Neurodiversity could include ADHD, autism or Asperger’s and many more diagnoses. Neurodiversity means cognitive differences where people’s brains work differently than those that identify as neurotypical. Including neurodiversity in DEI work helps maximize the full diversity of the workforce, especially younger people that have higher rates of diagnosis and awareness.

    Related: 6 Ways to Lead on Neurodiversity in the Workplace

    4. Try bite-sized DEI efforts

    Many well-intentioned organizations jumped into DEI work in 2020, only to find out that it is a long game. Centuries of inequality will not be solved overnight or even in our lifetimes.

    Breaking DEI into smaller chunks of learning, communications and experiences threaded over time creates a more lasting impact. Some examples are regular communications, training, guest speakers and leadership discussions — essentially putting DEI wherever important topics are communicated on a regular basis.

    5. Measure DEI

    Without knowing the baseline, it is hard to know where to start or how to show the ROI of DEI. Consider a validated survey approach, combing through pay data, demographic and employee engagement data or focus groups or listening sessions to determine the current state, problems and opportunities.

    6. Ensure you have full leadership engagement

    Without leadership’s full commitment to DEI, it does not work. That means that all leaders at all levels of the organization need to be well-versed in DEI issues and ready to engage in conversations on a regular basis. Most people leaders feel ill-prepared to discuss issues of diversity and avoid participating as a result. This can be achieved through leadership retreats, ongoing DEI topics on existing agendas or book discussions on key topics.

    Related: Diversity, Equity and Inclusion Initiatives Are Incomplete Without This Essential Dimension

    7. Use inclusive language

    One of the biggest opportunities for teams is to know how to surface issues with DEI without othering or offending someone unintentionally. Having go-to phrases to call people in with helpful language to say about issues with race, gender, disability and LGBTQ+ is key. People want to know what to say and not say so they can be better. There are many helpful training programs that can help and everyday communications and reminders help nudge people toward more inclusion.

    8. Implement intersectionality

    Kimberle Crenshaw coined the terms over 30 years ago and many still do not fully understand the concept. For example, women of color or those with disabilities who are also gay experience not one form of diversity — they experience multiple dimensions simultaneously. It is impossible to be a woman one moment and a person of color another moment. Discussing these intersections during Black History Month, Women’s History Month and Pride Month (and all year) is important.

    9. Address burnout sooner than later

    People in marginalized communities are more likely to experience burnout and are exiting the workforce at higher levels. The major causes of burnout are unsustainable workloads, perceived lack of control, insufficient rewards for effort, lack of a supportive community, and lack of fairness or mismatched values and skills. This can be addressed by freeing up time for DEI work, compensating people for leading DEI work in addition to their day jobs and making DEI a part of performance management.

    10. Take accountability for toxic behavior

    Toxic workplace culture is the leading cause of negative attrition. If the “always on” ideal or traditional worker model continues to be rewarded even when the employee’s behavior is toxic, that signals that DEI is a nice to have, not a must-have. Having toxic employees on the team disrupts the team dynamic and lowers the psychological safety necessary to drive DEI.

    There are many more DEI issues than these, yet these ideas are intended to be a starting point. Consider sharing them as a team, brainstorming other ideas and prioritizing a few to focus on for 2023. DEI is a long game — one that requires nudges along the way. By continuing to emphasize the importance and commitment to DEI, organizations achieve more.

    [ad_2]

    Julie Kratz

    Source link

  • How to Outrank AI-Generated Content

    How to Outrank AI-Generated Content

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    ChatGPT, an AI-powered content creation tool, has gained widespread popularity. GPT stands for Generative Pre-training Transformer. It is a type of artificial intelligence (AI) that can generate human-like content by analyzing language patterns and a knowledge database. Marketers are using it to produce massive quantities of high-quality content, but it lacks credibility without a recognized author. That’s where you can leverage Google EAT and other tactics to outrank GPT spammers and your competition.

    What is Google EAT?

    EAT — or Expertise, Authoritativeness and Trustworthiness — is a ranking signal in Google’s algorithm. Real people called “quality raters” use it to determine the quality and relevance of search results based on Search Quality Rater Guidelines. This feedback helps train Google’s algorithm to deliver better results to users.

    • Expertise is the author’s depth of knowledge on the topic. You can demonstrate expertise through educational credentials, professional experience and published works.

    • Authority is the author’s reputation within an industry or community. You can demonstrate authority through media mentions, industry awards and speaking engagements.

    • Trustworthiness is the credibility and reliability of the content and its source. You can demonstrate trustworthiness through references and citations, transparent author bios and clear contact information.

    In general, websites with high EAT are more likely to appear higher on Google Search Engine Results Pages (SERPs) compared to other content where all other factors are equal. EAT is especially important for websites in industries where accurate and reliable information is critical, such as healthcare, finance and legal.

    Related: 7 Best SEO Tools to Help You Rank Higher in Google

    Why Google EAT matters during an explosion of machine-generated content

    As ChatGPT and other automated content creation tools become more popular, we can expect a surge in search engine spam. These tools can produce content quickly and inexpensively. Consequently, Google must adjust its algorithm to prioritize credible writers. A viable solution is to give more weight to the EAT ranking signal. They’ll continue to prioritize articles associated with trusted authors and fine-tune their algorithm to detect the legitimacy and quality of content attributed to them. Google must also score content according to the value of the information contained and stylistic attributes such as engagement and readability.

    I recently described how human writers have some advantages over AI on a podcast. People have imagination and can generate original data with surveys and experiments. We can then use data storytelling to make our content stand out in SERPs. We can also grow our audience on social media and drive traffic to our pages. This “social signal” can increase the legitimacy of our content.

    Related: Top 5 Ways AI Can Enhance Your Content-Creation Process

    What to do when you can’t demonstrate EAT on your own

    If you have a limited amount of influence, you can leverage the Expertise, Authority and Trustworthiness of established authors and influencers to grow your brand. Here’s how:

    1. Pay top influencers in your industry to write articles, record videos and create other content they agree not to publish elsewhere until after Google indexes your pages. Be sure to disclose payments when legally required to do so.

    2. Identify, quote and write about well-respected people in your industry. Then, contact them, or tag them in social posts that point back to your content. Some of these people will share your content with their audiences.

    3. Build genuine relationships with famous people in your industry. You can network with influencers at events, on LinkedIn and on other social platforms. Transform those relationships into mutually beneficial collaborations to grow your authority.

    Related: How Influencer Marketing Took Power, and What the Future Holds

    Machine-generated content will improve, and platforms will use it to deliver personalized content. Authors can use it for ideation, outlines and summaries. However, spammers will use it for gaming search engines. To future-proof yourself as a content creator, optimize for Google EAT, and create unique articles that only humans can initiate.

    [ad_2]

    Dennis Consorte

    Source link

  • Has Remote Work Impacted Our Relationships With Other Employees? Find Out.

    Has Remote Work Impacted Our Relationships With Other Employees? Find Out.

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The concept of remote work and the impact it could have on the productivity and motivation of employees, has been in discussion long before the Covid-19 pandemic. A 2013 Stanford University study with 500 employees in China reported that employee productivity increased by 13% as a result of working remotely in quieter environments.

    The pandemic forced employers and governments across the world to adopt the remote work model. According to Statista, the global collaboration software market revenues rose by a whopping $15.9 billion in 2019 to $19.2 billion in 2021. These figures are expected to increase over the next few years, as digital transformation and remote work are here to stay.

    Some companies believe that the best practice is a hybrid-first work model, while others are pursuing efforts to bring employees back to the office. In September 2022, Kastle Systems, a key-card property management company that monitors entries and exits from office buildings, reported that some businesses are close to 50% office capacity.

    So, how has remote work impacted the relationships of employees? The way they connect on a professional level or even in a friendly manner?

    We conducted a survey in the United States across a wide age range, asking the participants about their experiences with remote and hybrid work models, and how it has impacted their productivity and their relationships with their colleagues.

    The participants

    To understand the role of remote work in the internal network of employers, we included participants across 31 states who are either working entirely remotely or with a hybrid work model. The survey sample included a diverse audience, as people of various ages and industries have varying preferences when it comes to the methods and tools they use to perform.

    • 82% of the participants were aged between 25 and 44 years old.
    • 18% were aged between 45 and 55 years old.

    The majority worked across different industries including, but not limited to, finance, software, healthcare and information services.

    Related: Employers: Productivity Among Your Remote Workers Isn’t A Problem — Your Proximity Bias Is.

    Remote work and productivity

    71% of our participants claimed that their productivity has improved over the past two years. A further 21% stated that it remained unchanged and 8% believe that it deteriorated.

    This came as no surprise. Removing the hours of commute, preparing food at home and being close to the family are all elements that employees have appreciated. In the words of Allyson Zimmermann, Executive Director at Catalyst, “access to remote work increases employee wellbeing, productivity, innovation and inclusion.”

    Whereas, no one under the age of 34 found their productivity deteriorating.

    Remote work and relationships with colleagues

    Despite the fact that remote work removes the boundary between work and home, people have been able to establish methods to communicate with colleagues without it becoming a burden. So much so, that for some, remote work has improved their relationships with their colleagues.

    67% of our participants believe that their relationships with their colleagues have improved during the last two years. This figure was sufficiently higher among the younger ages, as 73.8% of the respondents between the ages of 25-34 answered positively.

    This is in line with the findings of Dan Schwable, Managing Partner of Workplace Intelligence, who highlights that “over the past year their relationships have improved with their managers (32%), peers/colleagues on their team (25%), and peers/colleagues on other teams (21%).”

    “When people trust one another and have social capital, you get a willingness to take risks, you get more innovation and creativity and less groupthink.”

    Methods of interactions

    No matter the benefits of remote work, employees can get lonely. Nancy Baym, Jonathan Larso and Ronnie Martin from Harvard Business Review elaborate, “the spontaneous informal interactions at risk in hybrid and remote work are not distractions or unproductive. They foster the employee connections that feed productivity and innovation — these interactions are the soil in which ideas grow.”

    Our survey participants, however, have shared different methods that their employers promote in-person interactions:

    • 26% said that social outings have been their company’s go-to method.
    • 23% of our participants stated their company does so through work retreats and off-site gatherings.

    An interesting point to note is that some companies encourage remote interactions with colleagues:

    • 23% connect through digital Interactive Office Solutions.
    • 11% interact through online video game sessions.

    Admittedly, we have tried the last two points at Covve by hosting virtual game nights and online yoga sessions once per month with great success, connecting our teams.

    In addition to the above responses, we invited the participants to share other activities that would help them interact better with their colleagues at work. The most prominent responses were:

    • The inclusion of outdoor activities and sports in the company’s schedule.
    • Department-wide lunches or occasional dinners with colleagues. This is a technique introduced at Google (and then the wider Silicon Valley) to encourage employees to eat together, connect and share ideas for new projects.
    • The introduction of biweekly or monthly mentorship sessions.
    • Working together on volunteering activities and community service projects.

    Related: How to Strengthen Communication Within Remote and Hybrid Teams

    Conclusion

    The key message from our findings is that while remote work has increased employee productivity and improved their relationships, it did not eliminate the need for social interaction.

    Company networking and bonding is still heavily facilitated at company outings and gatherings. Although online interactions and even video games are novel and rising methods in connecting employees at the remote or hybrid workplace, employees still need to connect over drinks, food, exercise, or even volunteering. This is well explained by a research-backed op-ed by Edward Glaeser and David Cutler featured in The Washington Post, which claims that “over the medium to long term, long-distance employment can’t deliver key benefits — including learning and new friendships — that come from face-to-face contact.”

    [ad_2]

    Gleb Tsipursky

    Source link

  • 3 Lessons Subscription-Based Businesses Can Teach You About Building Connections and Fostering Community

    3 Lessons Subscription-Based Businesses Can Teach You About Building Connections and Fostering Community

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    It’s going to sound controversial, but hear me out: Your metrics and data alone won’t help you reach the next phase for your business. Don’t get me wrong, they play a huge role in growing and scaling your company, but so do other assets that are perhaps less tangible.

    The asset I’m referring to is your community. Whether or not you realize it, you’ve been building it ever since the day you launched your business. But are you nurturing it?

    Entrepreneurs need community to succeed and thrive in today’s hyper-paced, changing environment. In a constantly connected world, fostering a shared space of common interests and authentic connections can lead to increased customer loyalty, drive revenue and maintain growth.

    When it comes to engaging with your community on a regular basis, the subscription business model is king. Here are three lessons I have learned from subscription-based businesses when it comes to building authentic connections and fostering community.

    Related: Building Community Is Good Business

    1. Prioritize the customer experience

    Too often, organizations prioritize revenue over relationships. Previous research has shown that brands often create content based on their own needs and desires while failing to listen to what their audiences actually want.

    Subscription-based companies are naturally suited to build a more customer-centric approach through multiple touchpoints along the user journey. They have increased visibility into first-party data to understand customer behaviors and personalize their offerings. The result? A meaningful relationship with their clients.

    You may be afraid of the “S” word, but I assure you, implementing a subscription within your current offering is not as daunting of a task as you may think. You can start small by introducing an exclusive Facebook group open to your most loyal customers or launching a newsletter. You can go a little bigger by implementing a membership portal that offers premium perks (free shipping, exclusive access to product launches, discounts, etc.) in exchange for a recurring fee.

    Ultimately, remember the heart of a community is its people. The most successful brands prioritize building a customer experience unique to their products and audiences.

    Related: 6 Benefits of Having a Community When Building a Business

    2. Stay committed

    Being committed to what you’re doing when starting or running a business is crucial. Commitment is the key every entrepreneur needs to stay on track with any plan as their business grows. When challenges inevitably come your way, commitment can help you rise above and keep your business on the right track.

    When we were getting Gentleman’s Box off the ground, we tapped every resource possible, worked tirelessly and stayed committed to our customers to create a completely unique experience that they simply couldn’t receive on the retail level. We wouldn’t have achieved what we did, like our seven-figure acquisition in 2020, if we didn’t stay committed to all the levers we were deploying. It was a guiding post through our entire journey. I naturally use that same community-driven and committed mindset for every program and event we produce at our company.

    This commitment can be tough, which is why the support of a community is vital. Research has shown that the majority of business owners believe mentorship has a direct impact on their organization and its growth. And leaders across subscription-based organizations agree that you need to surround yourself with others who are supportive and positive.

    Entrepreneurs, business leaders and businesses derive many benefits from community memberships. A community of entrepreneurs, either in similar industries or not, can provide support, mastermind training and access to experts who can help grow a business. Some trade associations may even feature smaller communities for different roles, such as entrepreneurs, business managers and more.

    For example, at SUBTA, we’ve built one of the most supportive communities of business owners there is through our event, SubSummit, the world’s largest DTC subscription eCommerce conference. It’s a great event where business leaders can gather to share ideas, learn about new trends in the industry and prepare for what’s next.

    Related: A Business Owner’s Guide to Building a Community

    3. Remember your “why”

    The journey of entrepreneurship takes grit, resilience and patience. You won’t become an overnight success. Rather, business owners must put in the time, effort and hard work to accomplish their goals. The road to company growth can be long, and it often leaves an owner feeling stuck and unmotivated. That’s where a community can help.

    Igniting your passion through an impactful community is not just for subscription companies. To begin, ask yourself what got you out of bed this morning. The answer will provide clarity for the reason behind the work.

    Then, connect with your customers, whether through in-person events or digitally. Their feedback and support can help you hone your “why” and build brand affinity. When you see how your product or service is positively affecting your consumer base, it’s much easier for you to stay motivated and inspired.

    [ad_2]

    Chris George

    Source link

  • What to Do With an HR Department That Has Too Much Control

    What to Do With an HR Department That Has Too Much Control

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    We love our human resources departments. They do a lot of good inside a business. They recruit, train and onboard employees. They set up benefit plans. They create a strong company culture. But I’ve worked with a lot of human resources managers who have crossed the line from supporting the business to dictating the direction of the business.

    As the CEO, you need to ensure you know when it’s happening and do your best to keep your business running the way you want it to.

    [ad_2]

    George Deeb

    Source link

  • 4 Secrets to Finding the Right Investors and Raising More Money

    4 Secrets to Finding the Right Investors and Raising More Money

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    While the market may present uncertainties at the moment, fundraising efforts are surely continuing. Luckily, Verbit has seen great success in fundraising, raising more than $600 million over the company’s lifecycle and securing our Series E round late last year.

    It’s not a given that investors from around the world will be able to understand your vision. We’ve been fortunate that they’ve seen our potential and understand our mission — so here’s what it takes to fundraise successfully as a private company and how you, too, can navigate investor relations to ultimately find the right people to back you.

    Related: 5 Tips for Navigating the Entrepreneur/Investor Relationship

    Serve as the “Chief Storytelling Officer”

    In fundraising, it’s all about storytelling. It’s about really demonstrating the founder-market fit.

    In my previous role as a lawyer, I identified a need and I became dedicated to seeing through my vision to build the solution. If the CEO is also the founder of your company, then it is most likely that they’ll be your “chief storyteller” as well. As the founder of Verbit, I’ve needed to master how to best tell the Verbit story. I needed to be able to articulate and explain our unique story and values, but more than that, precisely how an investor would reap success by aligning with us.

    We have investors in Asia, Europe, the U.S. and Israel. Part of our success can be attributed to being able to convince these investors from every continent on the planet — who come from different cultures — why we’re worth it. When you can cater the pitch to them specifically, you’re much more likely to be successful and align the interests of everyone for shareholder value.

    It starts with storytelling. However, when you get to the point of a real opportunity, it’s not just the storytelling aspect. You need to make the investors fall in love with not just the story, but also you.

    Know how to navigate investor organizations

    For successful fundraising, it’s all about speaking to the right people — those who can make the decisions. If you’re a B2B company, speak to the B2B partner. Find out who they invested in previously that’s similar to you and what their interests are.

    You’ll also have better chances of getting through to consideration when the decision-makers hear the pitch from you directly. To make an impact and also make sure no time is wasted, you must enter into talks with the actual decision-maker at the firm. Say no to finders or associates.

    Once you’re in the room — or on Zoom — with them, aim to build a partnership around an understanding of what makes them excited. Speak to a partner who you can build a mutual understanding and relationship with and discover if the funds and offer are relevant. Then, you just need to make sure the terms are good and fair. Establishing this shared vision and alignment is critical.

    Understand how to approach inbound investor leads

    If investors reach out to you, that’s great — but take the time to find out why they’re asking. There are five key questions we typically ask and reference, which allows us to vet inbound requests and make sure those who are reaching out are serious.

    Here’s our cheat sheet:

    1. How did you hear about [company name], and why does [our industry] interest you?
    2. What is the check size you usually invest and what are the growth rates you’re looking for?
    3. What does the investment process from your end typically look like?
    4. Who would be the partner sponsor that will support the deal? (i.e. If a junior employee or associate is doing the reach out, then find out who the decision maker is. Make sure the decision maker is in the room or in the Zoom meeting.)

    Answers to these questions provide a lot of valuable information for you to see if there’s a real fit. Remember, they need to choose to invest in you, but you also need to feel good about them. Additionally, even if the timing doesn’t work out for an investment, there’s also great value in continuing to build relationships with individuals at the firm anyway.

    Having relationships in place ahead of time will allow you to create real momentum and will result in making your working relationships incredibly strong ones when the time comes.

    Consider your term sheets

    Then, when it comes to the terms, having informal talks that drive the discussion and negotiations can be helpful. You want to know what the likelihood is that the deal will be approved. I’ve heard many stories of signed term sheets and parties that backed off. I also hear it more and more often.

    If you sign a term sheet, will it get done? What’s the probability of final close? Validate that by asking about the process and understanding what’s needed by an investment committee. At the end of the day, investments provide options. It’s not always best to take the highest valuation.

    Investors need to make assessments on both your tech and your story. You need to access whether they bring you not just the funding, but the right team to help you and guide you to your goals. Make sure they believe in you.

    Ultimately, a company looking for fundraising must demonstrate the market size, how capable their founder is, the company’s technological moat, its proven business model and profitable revenue growth. Access to this information will arm partners with the information they need to invest in you.

    [ad_2]

    Tom Livne

    Source link

  • Mastering The Art of Negotiation Requires a Lesser-Known Approach

    Mastering The Art of Negotiation Requires a Lesser-Known Approach

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    So much has been written about successful (and unsuccessful) negotiation that certain universals are well established, and yet there are still other lesser-known essentials that I have learned over my 50-year career in real estate.

    Perhaps the number one universal is to look for a win-win in any negotiation. Both sides have to agree to the terms and both have to gain something as a result. Other negotiating skills are building a relationship, avoiding a combative position or approach and being mindful of timing.

    Other advice for successful negotiation includes reframing hard questions or ultimatums to lower the temperature, being tough when and if necessary and delaying acceptance. It is far too easy to derail a negotiation through bad timing, for example, taking something off the table too soon or offering something up too late.

    And then there are things I have discovered through countless negotiations that should genuinely give you a path to success.

    Related: 5 Steps to Master the Art of Negotiation

    My “go-tos” before beginning negotiations

    The most important thing for me is simply to know everything I can about the person sitting across from me. Everything. I want to know what sports they like, their career history, something about their families (spouses and children) and sometimes deeply personal facts. For example, does he or she have a spectacular business success or failure in their past?

    Most people do not spend anywhere near enough time understanding who they are negotiating with. I consider it essential. When negotiations start to slow down, you can often “breakthrough” their wall by talking about what is important to them.

    Knowing someone’s cultural background is also critical. Some cultures really do look for a win-win, but some other cultures consider it a failure unless they see the result as a win for them and a loss for the other side. Some cultures think bargaining is natural and expected. Obviously, you have to frame things differently depending on which type of negotiator you are dealing with.

    For example, you would not put your best and final offer out there when dealing with a bargainer until well along in the give-and-take of the process. They won’t feel successful without having bargained and you may have given ground unnecessarily.

    Besides knowing everything about the person, I want to know their “true needs” and I want to know them walking into the meeting. Are they looking to add to an enterprise, diversify, obtain something to break up or flip for a fast profit? If I know the answer to their true needs, I can usually walk away with a deal — one that is good for me, too.

    Emotions matter — a lot!

    Never discount the role of emotions in negotiation — and I don’t mean the emotions involved in doing battle. Remember the universal that you should not approach this as combat.

    Let me give you a real-life example. I once found out that the person I was going to negotiate with had lost a brother to suicide. It so happens that my brother committed suicide. This allowed us to connect in a very personal way, understanding the suffering we had endured and what it did to our parents.

    The bond we formed allowed us both to concede important points in order to get the deal done. We wanted to get it done for each other’s sake, as well as our own.

    Other emotions to be acutely aware of are trust (yes, that is an emotion in my book), anger (obviously) and self-doubt (second-guessing can be fatal to a negotiation). You want to create a setting that evokes the best emotions of the person you are dealing with to get to success.

    Related: 8 Negotiating Tactics Every Successful Entrepreneur Has Mastered

    Beyond business

    In addition to my real estate work, I am very involved in philanthropy, both my own and that of some very successful and very generous people whom I advise.

    After deciding which issues and causes to support, and ensuring that the organizations we support enjoy good reputations and track records, then comes the negotiation.

    The universals still apply — seeking a win-win, coming to mutually acceptable terms and being mindful of timing. But there are also unique aspects when negotiating major gifts.

    If you donate to build a school for children with special needs, for example, you want to negotiate a contract that will prohibit using the building for other purposes or selling the building. You want to negotiate terms and lock in provisions that your gift will only be used for your stated purpose.

    Do you want “naming rights” and what size donation does that entail? This, too, is a negotiation, not a predetermined equation. A donor name often has its own cachet and that has a value to factor into the negotiations.

    The core of every negotiation

    If you take away only one thing from my lessons, I hope it is this:

    When negotiating anything – business, philanthropy or even personal – you are negotiating with a person. Lose sight of that and you are unlikely to succeed. Be acutely mindful of that and, in my experience, you are likely to succeed. and that is why I want to know everything I can about anyone with whom I negotiate.

    [ad_2]

    David Malcolm

    Source link

  • Avoid These 4 Pitfalls to Become a Great Communicator

    Avoid These 4 Pitfalls to Become a Great Communicator

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Most of us want to be great communicators. Many of us pride ourselves on it. However, it’s easy to fall into common traps that confuse our audience and set us back.

    Being an exceptional communicator means that we’re constantly considering how we come across to others, especially those dissimilar to us. If you’re leading a team or looking to progress in your career, it’s important that your words don’t unintentionally alienate or offend others. Here are a few examples to avoid.

    Related: 9 Best Practices to Improve Your Communication Skills and Become a More Effective Leader

    1. Obscure or even semi-obscure references

    Sometimes, when we like a popular sport or movie, we’ll make the mistake of assuming everyone does. Then we’ll make references to this thing, without noticing that we might be losing some of our audience.

    Sports references are especially prevalent. Phrases as simple as “we should punt on that decision,” “we’re in a holding pattern on this project,” or “I don’t want that meeting to be a no-hitter” might make total sense to us, but not everyone. Especially in large groups, outstanding communicators speak in ways that everyone can understand.

    In corporate settings or any kind of mixed group, it’s important to recognize that not everyone will understand your sports or movie references, even if they are from popular movies such as Die Hard or The Godfather. Those who don’t can easily end up feeling lost in the conversation because they simply aren’t familiar with the terminology.

    When with friends or a homogenous group, where you’re sure everyone is familiar with your reference, that’s one thing. But making references to our favorite movie, show, celebrity or sport without recognizing that not everyone in the room will know what we’re talking about. When this happens, you run the risk that an audience member will feel ignorant or unworthy, then disengage or check out because they don’t feel included in the conversation. Find literal ways to say what you mean.

    Related: 4 Expert-Backed Strategies for Improving Your Communication Skills

    2. Gross generalizations

    As a society, we love to generalize. We’ll say things like “this happens a ton,” “everyone feels this way,” or “she’s acting crazy.” If you’re using a word that’s open to interpretation, find a better word. Generalizations are rarely helpful or accurate.

    If you’re trying to estimate how long something will take, try to narrow it down to a specific amount of hours, days or weeks. If you want to discuss how commonplace something is, find data on how many people are actually affected by it. If you’re describing someone’s behavior, see if you can detail it in a specific and objective way, instead of a subjective way. Don’t just call something a terrible experience — describe what specifically made it so terrible.

    Words like “a ton,” “a lot,” “everyone” or “crazy” have different meanings to different people. When we can report data and discuss situations with language that’s specific and measurable, it’s less likely that our words will be misunderstood or misinterpreted. Our problem statements, pain points or proposed solutions become factual and based on data, not just “gut feel.” True professionals and mature adults communicate this way, so there’s never any confusion. People respect it far more, too.

    Related: The Biggest Communication Mistakes Entrepreneurs Make

    3. Excessive analogies and metaphors

    Analogies and metaphors have a place in speech, especially if you’re confident that your audience will understand. When you insert an analogy or metaphor into a conversation, it should serve a purpose. This is the case when you draw a comparison of something that’s well understood to something that’s less well understood.

    However, the overuse of analogies and metaphors can be distracting. Each time you make one, you’re asking your audience to travel somewhere else in their minds, which takes them away from what’s going on at the moment. Those who constantly liken one thing to another also run the risk of avoiding simple and straightforward communication.

    If you’re always finding the need to compare and contrast things for the sake of explanation, then there’s a chance you don’t understand the current situation well enough or feel comfortable talking about it directly. This can be especially dangerous when comparing two people together. Saying “Rick is just like Sarah” might sound innocent enough, but Rick is not Sarah. He’s his own person, and chances are, they’re not exactly alike. Saying two people or things are the same is a great way for us to ignore and really appreciate what makes them different. Valuing differences is such an important part of leadership and teamwork.

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

    4. Buzzwords

    Buzzwords are a great way to say something without really saying much at all. We’ll insert them into conversation regularly, saying “I don’t like any of these proposed solutions; let’s think outside the box” or “You can’t talk to John about this; he’s been drinking the Kool-Aid.” There’s almost always a more illustrative or descriptive way of describing something. Saying “think outside the box” conjures up imagines of being more innovative or creative, but it doesn’t really address what’s wrong with the proposed solutions.

    For most, especially if you have a diverse group, it would be more helpful to say: “I’m worried that these ideas are focused on the short-term, and they center on things we’ve already done. What if we took a totally different approach with this strategy by focusing more on how we expect our clients to shift their use of digital technology over the next five years?”

    Saying “drinking the Kool-Aid” probably implies that John is very dialed into the status quo or current direction, but it doesn’t address why or what should be done about it. For most, it would be more helpful to say: “I know he’s very supportive of the current initiative, especially since he was here for the pilot. Let’s try to explore alternatives with him by asking him some open-ended questions, especially about the risks of this approach and what could go wrong.” Now, you’re actually communicating how you feel, what you think and what you’d like the future to look like, instead of allowing everyone to draw their own conclusions.

    Remember, when you’re communicating, it’s for the benefit of your audience, not yourself. Avoiding these four parts of speech help you from alienating, losing or confusing others whose brains work differently than yours. That will allow you to be more effective with your message, which is what we all want.

    [ad_2]

    Amy M Chambers

    Source link

  • What Makes an Idea Great? These 3 Key Elements Are the Answer

    What Makes an Idea Great? These 3 Key Elements Are the Answer

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Having spent many years in the sports world, I often find that sports ideas and business ideas are not that different. During a time when I was serving as a coach in a girls’ lacrosse program, I was asked to help a team that had just had a series of tough games.

    Morale was low. My coaching friend and I knew we had to inject energy into them, so we came up with a cheer called the Heart and Hustle chant. It goes like this:

    Coaches: H-squared!

    Players: Heart and Hustle!

    And repeat until everyone’s pumped up.

    Simple, right? We instituted this little cheer and suddenly these young girls — about 12 years old — got fired up. The team was playing as I had never seen them play before. The chant invigorated them and they powered through.

    They won in more ways than one.

    Fast forward to today, and that chant is still shared by every team that comes through that lacrosse program — which has expanded to over 400 girls playing in any given year. There’s a Heart and Hustle tournament, Heart and Hustle T-shirts and in my last year in the program, I received a necklace from a group of players with an H2, which represents — you guessed it — Heart and Hustle. It never ceases to amaze me that a simple cheer grew from one team and spread across the entire organization.

    What does this have to do with business? Everything.

    Great ideas run the world. But what makes an idea great? When I think back on that cheer and then on my current career, I think there are three key elements: authentic desire, channeled energy and receptive people.

    Related: Authentic Leadership: What Is It and Why is it Important?

    You can’t fake authenticity

    There are fake intentions everywhere — and believe me, they don’t stick. We can intuitively feel whether an idea is coming from an authentic place.

    Getting an idea to stick starts with not focusing on sticking but on fueling an intrinsic desire to be of service. I’m convinced that’s why so many successful businesses describe themselves as people-focused or human-centric and then follow up those words with action. A team that truly wants to make a positive change in the world or really values its company mission will inherently be more impactful than one backed only by flimsy, half-hearted slogans.

    Focus on your best

    We all know (and love) those happy-go-lucky people who always seem cheerful and optimistic. Maybe you’re one of them. But while that kind of positivity can be extremely helpful in creating a welcoming work environment, it won’t make or break a company.

    You create force and movement when you channel your positive energy into the best projects with the highest priority. Scattering your motivation into too many projects leaves every project without the momentum needed to deliver true impact. This responsibility often falls on management. Your team may have 10 fantastic projects they’d like to ideate on, but if you only have time for three realistically, you’re doing all 10 projects a disservice by not channeling your energy. Choose your best projects and put everything into them.

    Related: How to Employ a Team That Shapes Your Company Culture

    Build the best team

    It’s often difficult to know when a team member simply isn’t the right fit. Sometimes it’s a matter of skills, but often it’s something beyond a list on a resume.

    A team member with average skills who shares your vision will work far more effectively than one who has exemplary skills but doesn’t care. When you’re building your team, seek prospects who lean in when discussing your company’s mission. These employees will pick themselves up after an unsuccessful campaign, get back to work and try even harder to reach shared goals next time. These kinds of people are often the ones who come up with the ideas that stick.

    Related: How to Craft the Perfect Recipe for Persuasive Storytelling in Your Presentations

    There’s no recipe

    Part of what makes ideas stick is having the perfect blend of circumstances that allows all of those three components to come together — along with other far more nebulous elements like timing, community attitudes and trends — which is part of the reason why not all ideas stick. Even good ideas. So what can you do to make sure you get ideas that stick? Focus on the elements you can control and bring them together as frequently as possible.

    There’s no perfect roadmap and certainly no instruction manual. But getting the best people together to share their authentic desires toward a shared goal, with targeted focus, puts your team and your business in the best possible place to stir up those world-changing ideas. As a leader, that’s the most important part of my job: to create the best atmosphere I can and encourage creativity, spark and a free flow of ideas. That, to me, is heart and hustle.

    [ad_2]

    Amanda Rogers

    Source link

  • You Can’t Stop Quiet Quitting, But Here’s How You Can Prevent It

    You Can’t Stop Quiet Quitting, But Here’s How You Can Prevent It

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The new workplace trend known as quiet quitting has left office managers and employers up in arms over what to do to keep employees engaged and enchanted — just as companies were able to rebound from the tumultuous conditions brought on by the Great Resignation, which saw nearly 19 million employees quit their jobs.

    But even as employees left their jobs in droves last year in hopes of changing their careers or landing a more purposeful job somewhere else, quiet quitting has become the workplace trend that just doesn’t want to quit.

    Unlike the Great Resignation, which simply meant employees were leaving their jobs because they felt burned out, stressed and anxious — quiet quitting resembles an attitude of setting boundaries and not taking work too seriously.

    It’s a workplace trend that has inspired millions of workers to “act their wage,” leaving them to only do what is required of them and not go above and beyond.

    Related: Employers Should Fear The Truth Behind Quiet Quitting. Here’s Why.

    It’s more than just quitting

    After years of reconfiguring the workplace environment due to the pandemic and the onset of remote work, employees still seem to be quitting their jobs despite economic and financial uncertainty looming.

    The Talkspace and The Harris Poll Employee Stress Check 2022 Report found that employees ages 18 to 34 years are most likely to experience high levels of stress and anxiety in their jobs leading to factors such as feeling burned out. At the same time, a Gallup study found that those employees born after 1989 (55%) are less likely to be engaged in their jobs.

    There’s evidence of employees quitting their jobs in the hopes of finding something more worthwhile and meaningful — around 40% according to McKinsey research. For others, quiet quitting in the office has become a major headache for managers, human resource staff and employers alike.

    It’s not completely possible to stop quiet quitting in its tracks or control it from spreading across the office like wildfire. There is, however, room for proactive ways to overcome quiet quitting in the office.

    Talk to employees

    Any employee can become disengaged at work, and it’s even harder to assume someone is quietly quitting based on their performance. Various factors can influence performance from the workload to the workplace environment.

    Executive personnel should take the time and effort to talk to employees to get a better view and understanding of their possible disengagement at work. Seek to monitor employee stress levels and their current workload. This will help to understand whether an employee is simply overworked, or actively quiet quitting.

    Make an effort to invest in employee well-being — not only for the sake of improving office morale or company loyalty, but to better understand where possible workplace challenges are causing employees to do the bare minimum.

    Related: Quiet Quitting Is Taking Over the Workforce. Here’s How to Fix It.

    Understand employee needs

    Often and more than usual, employees who exhort feelings of quiet quitting will do so to get back at their employer or manager simply because they feel overworked and underappreciated.

    In this case, it’s the ideal time to start promoting employee engagement through active conversations. The idea is not to simply talk about any workplace-related pains, but actively look to resolve the issues with workable solutions.

    Research shows that how employers and managers treat their subordinates will make a big difference in whether people will remain loyal to the company or start resembling traits of quiet quitting. Furthermore, employees who feel emotionally and psychologically disengaged from their employers are less likely to speak out about possible grievances.

    The best and easiest solution, in this case, is to promote employee dialogue among those experiencing high levels of stress and burnout, sooner rather than later.

    Advocate employee recognition

    Often, employees start to become disinterested and disengaged in their work due to a lack of recognition. This helps to kindle quiet quitting even more.

    Employees who feel their efforts are being recognized, either by their boss, manager or team members, will see value in doing more than what is expected of them. Yet, in the same breath, it’s not easy for those in power to monitor recognition-worth progress among a large team of workers.

    It’s important to consider the type of contribution certain employees are making, and what they are bringing to the table during projects and team meetings. Employees that are disconnecting themselves from projects and other teamwork will have an affect on other workers, as well as the overall team performance.

    As a rule, employers and managers, and in some cases HR, should understand the impact employees are making and how they are actively contributing to the overall success of the company.

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

    Mentor employees in their careers

    Quiet quitting is often about making a career change or taking on a new job without quite knowing how to do it successfully. In most instances, it’s common for employees to change their jobs every so often. But for those that are looking to commit to a career change, without the right guidance, they can often feel overwhelmed and anxious doing so.

    Knowing that employees are willing to make a career shift, or have come to terms with finding a new job, it should be a time when employers or managers can help to offer career management advice. For many employees, leaping into something unknown is a thought riddled with anxiety. To prevent quiet quitters from slowing progress and performance in the office, employers need to help employees better manage their careers and prospects within the company.

    Finishing off

    Quiet quitting isn’t going away anytime soon. It’s not possible to stop it dead in its tracks before it comes into your office. There will come a time when employers and managers will need to step in to help assess employee well-being and performance based on their workload, engagement and company loyalty.

    Head-hunting quiet quitters is not the right way to deal with the situation. Yet it is possible to effectively communicate with employees about their current working conditions and help promote a healthy work-life balance. Make sure to be a leader more than a boss, and advocate employee well-being. It’s better to help employees, rather than leave them to hurt your company’s bottom line.

    [ad_2]

    Pierre Raymond

    Source link

  • How These Friends Started a Lucrative Charcuterie Side Hustle

    How These Friends Started a Lucrative Charcuterie Side Hustle

    [ad_1]

    Starting a side hustle? It might pay to find yourself co-founders who have something you don’t.


    Courtesy of Platterful

    That’s what Ryan Culver, Caroline Elston and Lowell Bieber, the Indiana-based friends behind charcuterie subscription service Platterful, discovered when they teamed up to launch their venture last year — and made $40,000 in their first month.

    Culver and Bieber previously partnered on a health-and-wellness subscription box, which they successfully scaled and sold in September 2020.

    This time around, Culver’s logistics and shipping experience and Bieber’s operations expertise proved to be the perfect pairings with Elston’s background in digital marketing and burgeoning charcuterie business.

    Entrepreneur sat down with the trio to learn how they built their meat-and-cheese side hustle — and continue to fuel its growth.

    Related: Meats and Cheeses and Olives, Oh My! How this Veteran Launched a Successful Charcuterie Franchise

    “We really didn’t have any idea of how to pair things well together — certainly not how to create a board.”

    Culver and Bieber wanted to start another subscription service after the sale of their first, and recognizing the gap in charcuterie offerings, saw a prime opportunity.

    “We definitely wanted to repeat the subscription model,” Culver says. “We could’ve just created this brand [that had] standalone products that you could buy, which we do offer as well. But really the crux of the business is tied to that subscription model. We were both still highly interested in the recurring revenue that comes in each month. It’s almost like a guaranteed buffer to keep the baseline cost of the business covered.”

    The only problem?

    Culver and Bieber didn’t know anything about the business of meat and cheese.

    “We had no knowledge of charcuterie,” Bieber recalls. “We just knew it was a growing space and that we liked to eat meat and cheese. But we really didn’t have any idea of how to pair things well together — certainly not how to create a board.”

    Image credit: Courtesy of Platterful

    Related: How Subscription Services Are Changing Brand and Consumer Habits

    “Meeting Ryan and Lowell [who already had] all of that operational background on subscription boxes and fulfillment was like the perfect timing and the perfect marriage.”

    Culver and Bieber began looking for someone to help them get their venture off the ground. Their search led them to Elston, a marketing professional who also operated a grazing-table side hustle serving events like weddings, birthday parties, bridal showers and more.

    “I love meat and cheese as well — no surprise there,” Elston says. “I loved cheese boards and would get them at restaurants. They were starting to catch on two, three years ago, so whenever people would come to my house or there were family gatherings, I would always make a board.”

    Elston continued to get creative with her boards in 2020 for her college friends’ 30th birthday celebrations, and when people suggested she go into business for real, she decided to do just that. From there, it “caught fire;” Elston would craft 10-15 small boards every weekend in addition to five to six grazing tables for larger events. She was also about to become a parent.

    She knew it wasn’t sustainable.

    “Meeting Ryan and Lowell [who already had] all of that operational background on subscription boxes and fulfillment was like the perfect timing and the perfect marriage,” Elston explains, “because it was a way that I could continue this creative outlet that I found and fell in love with, but I didn’t have to run all over the city of Indianapolis to do so.”

    Image credit: Courtesy of Platterful

    Related: 12 High-Earning Side Hustles for Creative People

    “We took a month or so to build out our website, and that blew up in December, which was great to see.”

    Platterful planned a crowdfunding initiative on Kickstarter to gauge market interest but had to pull the campaign at the last minute when the co-founders learned their business was considered “reselling” — “even though it’s much more than that,” Elston says.

    But with a quick pivot to Indiegogo, Platterful was back on track.

    “The Indiegogo did well,” Bieber says. “And then we took a month or so to build out our website, and that blew up in December, so that was great to see.”

    Platterful did $40,000 in sales during its first month, and despite being a “very seasonal business” with spikes in popularity around major holidays, it’s been able to sustain that growth. This December, the business is poised to at least double last December’s earnings.

    Culver’s logistics company Lessgistics fulfills Platterful’s orders. “So I kind of see both sides of [the process], which is interesting,” he says. “It gives us full control over the shipping experience, which we like.”

    Image credit: Courtesy of Platterful

    Related: Here’s How You Can Grow in the Logistics Business

    “One of our big 2023 goals is just to ensure our packaging and presentation looks very nice when customers open it.”

    But Platterful’s journey hasn’t been without some challenges. Even though Culver and Bieber had subscription experience, the co-founders did have to contend with a new complication: cold shipping.

    “Some of the meats are shelf stable, but all of the cheeses need to be refrigerated,” Bieber says. “So we have to make sure that they’re arriving cold, and that [brings] a whole new set of challenges that are frankly kind of expensive. We had to figure out how to still offer good value to the customers at an affordable price.”

    That’s meant constantly refining Platterful’s packaging.

    “We’ve gone through six or seven iterations of packaging so far,” Culver says, “and we’re still working on that now, continually making that better. One of our big 2023 goals is just to ensure our packaging and presentation looks very nice when customers open it. So it’s always been kind of a work in progress.”

    Image credit: Courtesy of Platterful

    Related: 5 Creative Packaging Ideas to Delight Your Customers

    “[With co-founders] you have other people to lean on — if you’re having a tough day, maybe someone else is having a good day.”

    Of course, balancing full-time jobs with a fast-growing side hustle is no easy feat either. But having dependable partners to fill in the gaps makes all the difference.

    “We all have our core jobs, but there’s also still a lot of free time, pockets at night or in between lunches, breaks, whatever,” Culver explains. “So we stay in contact throughout the day, each day. Not Saturday and Sunday, that’d be a little too much. But Monday through Friday for sure.”

    Platterful also has two employees in the Philippines who handle significant portions of customer service and corporate outreach.

    “We’re all in and out all day long,” Elston continues, “and very stressed with a lot to balance. [But it’s] a blast and stuff I really want to do. So we all make time for it because it’s like our baby, and it’s going very, very well, and we’re all very committed to making it work.”

    Bieber agrees.

    “I feel like it would be really hard to do [these things] alone,” he says, “because you don’t have a support system. [With co-founders] you have other people to lean on — if you’re having a tough day, maybe someone else is having a good day. That balancing act of having three different people going in it together, plus the rest of the team, is what makes it sustainable.”

    So for those breaking into the subscription box industry? Find yourself a complementary set of business partners first.

    [ad_2]

    Amanda Breen

    Source link

  • How Small Businesses Are Teaming Up to Boost Local Economies

    How Small Businesses Are Teaming Up to Boost Local Economies

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    It’s no secret that small businesses face challenges on a daily basis. Current supply chain woes need all levels of attention as problems arrive in every shape and size. Small businesses are seeking many – often any – opportunities to help keep their lights on and doors open.


    mavo | Shutterstock

    The gap between businesses thriving, surviving, and boarding-up windows is a fine line.

    The incredible challenges over the last few years brought rapid innovation and adoption of new technologies to supply chains, which has helped small businesses purchase essential supplies to keep operations up and running.

    Small businesses make up the fabric of local communities and keep main streets populated and vibrant. Big business also plays a role in developing technology and solutions on a scale that reflects the scale of the challenge – in this case, global supply issues creating challenges at every level of business.

    When it comes to the challenges that small businesses continue to face with remote work and ongoing supply chain disruption, there is an opportunity for small businesses to partner with other small and local businesses to help survive the economic climate, while also supporting their local community.

    Strength in numbers

    One of the first steps is to help small and local businesses connect with one another. This is where new technology and innovation help the local business community get in touch, with a mutually beneficial purpose: to buy from each other.

    Innovation from digital purchasing solutions helps small businesses make a greater impact on the local community. Current technology can help direct the purchase of products and supplies to (other) small businesses in the local community

    All businesses have a unique story to tell. Ask any business owner and they’re sure to award your curiosity with their tales of success and hardship.

    Survival of the smartest

    Many people are familiar with the words “Smart TV” or “Smart Phone”, while less people know “SMART” stands for Self-Monitoring Analysis and Reporting Technology. SMART objects and processes have gained awareness where they were once considered inanimate.

    Not only have advances in technology brought new efficiencies to the purchasing process for small businesses, but the benefits of innovation and digital procurement solutions have introduced a variety of fresh ideas and approaches from this resulting innovation.

    Using digital procurement solutions not only enables small businesses to more easily pinpoint cost savings, reveal opportunities, and turn insights into action, but business leaders get time back to invest in organizational strategy and business growth.

    Small businesses can leverage the power of machine learning technology and use these solutions to find and purchase business products from other small and local businesses. In turn, this helps their small business community and local economy.

    Exclusive pricing and products

    Digital procurement solutions simplify the buying process, helping small businesses easily purchase business-relevant products while shifting spend to support other small and local businesses.

    Businesses can shop from hundreds of thousands of sellers, buy products in bulk, and access quantity discounts on supplies, which starts with the purchases of two or more of the same products.

    The purchasing platform does the work of finding, retaining, and nurturing suppliers. Businesses can then create buying policies to prefer sellers based on criteria that match the company’s values and goals, choosing suppliers with certifications for diversity, local businesses, and more sustainable products.

    Simplify and organize purchases

    Organizational purchasing goals can be proactively measured by tracking purchases of products from certified local businesses and can also be filtered by certification, zip code, city, and state.

    Once small businesses can locate and purchase products from other small and local businesses, the process becomes simple and repeatable. This allows small business owners to introduce more organization to their purchasing, while also benefiting from a more simplified purchasing process, overall.

    Small businesses can now easily separate work from personal purchases, automate buying and shipping preferences, create out-of-the-box reports, and streamline the entire procurement process.

    From building to booming:

    Current innovations in purchasing can help identify purchasing behavior, discover new products and sellers, and measure progress toward purchasing goals. Small businesses can continue to focus on building and growing, along with pinpointing opportunities for savings, while also helping support other businesses in their communities.

    Whether your small business is a recent startup or a quickly-growing organization, digital procurement solutions help make running your small business easier while connecting you with other small businesses. As a collective, you can keep lights on throughout both your digital and physical “Main Street” which, in turn, benefits your own small business.

    [ad_2]

    Source link

  • Black Fashion Fair Teams Up With the Basquiat Family For an Exhibition You Can Wear

    Black Fashion Fair Teams Up With the Basquiat Family For an Exhibition You Can Wear

    [ad_1]

    Brandon Blackwood at the “Jean-Michel Basquiat: King Pleasure & Black Fashion Fair: Those Who Dress Better” exhibition.

    A new exhibition is in town — and this time, it’s one you can wear. 

    Tied to the “King Pleasure” exhibit currently on display in New York City, Black Fashion Fair partnered with Jean-Michel Basquiat’s estate for a show-slash-collaboration that’s not only open for viewing, but also for shopping. In honor of the celebration of the late artist’s work, his sisters Lisane Basquiat and Jeanine Heriveaux commissioned nine Black-owned brands — Hanifa, Theophilio, Brandon Blackwood, Who Decides War, Johnny Nelson, Bed on Water, Homage Year, Head of State, and Advisry — to create pieces based on his body of work.

    [ad_2]

    India Roby

    Source link

  • Sammy Hagar and Guy Fieri Reveal The Two Key Ingredients of Entrepreneurial Success

    Sammy Hagar and Guy Fieri Reveal The Two Key Ingredients of Entrepreneurial Success

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    There was John and Paul and then John and Oko. Chris Tucker and Jackie Chan. Will Smith and Tommy Lee Jones. Sure, we’ve had great pairings on the screen, in the recording studio, and on stage, but mixing sectors is taking on a whole new life and energy.

    Rocker Sammy Hagar never plays second-fiddle to anyone unless you’re a bleach-blonde, larger-than-life flavor junkie who hunts down good times like it’s a profession. We’re, of course, talking about Guy Fieri.

    Hagar and Fieri, both from small towns in California, share a love of entertainment and experience and are continuing to bring that to consumers with more offerings from the company Santo Spirits.

    Entrepreneur spent time with the duo to dig deeper into the roots of their partnership and, more importantly, friendship.

    Known affectionately as the “Godfather of Tequila,” Hagar has been on the spirits scene long before Ryan Reynolds, George Clooney, Conor McGregor, Bryan Cranston, or Charles Barkley cashed in on the distillery run that has made billions worldwide.

    Hagar attributes much of his success in the spirit industry to the gritty and comforting roots of his rearing in the lettuce fields of Salinas, California. “We grew up poor, but we always had a garden. My grandma and my mom canned everything. We ate good tomatoes all year round,” he says. Hagar remembers the smell wafting yards away from his artisanal chef and grandfather’s trailer-turned Italian-bistro. “He made his own cheese, pasta and olive oil. He even made his own wine! I would walk towards his trailer, and it was like a deli — it smelled so damn good!”

    Related: ‘No One Believed’ This Black Founder Was the Owner of a Liquor Brand in 2012. He Launched to Great Acclaim — Then Lost It All. Here’s How He Made a Multi-Million-Dollar Comeback.

    The romanticism of his relationship with food and family emanates in his description and experience of flavors today. He didn’t plan on a spirits biz, but good taste pulled him in like many things in his life. Hagar leans into the quality of the food and spirit industry, maybe because he only first experienced a restaurant at the ripe age of 24.

    Wine was Hagar’s first love, and through a few unexpected and global turns, he found himself in Jalisco, Mexico sipping tequila. What started with Cabo Wabo eventually expanded into new ventures. “Good tequila tastes like the earth with salt and citrus. Overtones, fruity, herbaceous, time and limit are all involved. Santo Tequila Blanco, you can drink it by itself. There are so many notes in it.”

    “Fieri grows peaches all around the distillery, and you can taste and smell the peaches in there. It’s such a wonderful agave spirit. Out of a Blanco tequila, I can name 15 different things that I smell in ours because there’s nothing else in it. Others might smell like sugar or honey because they try to bring it up with agave syrups. A lot of tequila is not as pure as it should be anymore.”

    Before tequila, Fieri was drinking the Kool-Aid

    Years before Fieri was smashing flavor profiles on our screens, he was selling Kool-Aid in his neighborhood. Known for rolling his sleeves up, Fieri literally dipped his youthful arm into pitchers of the iconic 80’s beverage until his father noticed. “My dad kicked me out of the Kool-Aid business after he caught me with a purple arm. I’d lost my stirring stick, my dog took it, and my dad busted me. He said, ‘That’s it, you’re out.’”

    The budding beverage king learned a valuable lesson as an up-and-coming entrepreneur. “I always had a couple of businesses going as a kid. I was a budding entrepreneur growing up in the angelic town of Ferndale, California. I always had businesses, and tourists were always coming through. I’d buy penny candy from the candy store and sell it for a nickel across the street with my own little booth made out of cardboard. People couldn’t believe this little kid was making money.” While his entrepreneurial Kool-Aid days are behind him, it wasn’t the only time Fieri would go on to make a profit selling beverages (albeit of the alcoholic variety).

    Enter the dream team

    When Hagar sold Cabo Wabo, Fieri was crushed — his restaurant self-reported selling more Cabo Wabo than any restaurant in the country.

    They talked. Hagar was ready to chill and enjoy the well-earned sips that had solidified his place as an entrepreneur. Fieri wanted to partner up to build a spirits company with Hagar, who was reticent. Call me in a decade, and maybe I’ll be ready, Hagar replied.

    Fieri was ready even if the decade bloated a couple of years before circling back with Hagar. This time it was Hagar doing the calling, and Santo Spirits was born.

    Bandmates

    For decades Hagar has approached life and business, aiming to be the best. “Quite honestly, when I joined Van Halen, I thought if I couldn’t sing better than the previous guy [David Lee Roth], I wouldn’t have joined the band.” By all accounts, Hagar has found a bandmate in Fieri that embodies a key element of success for entrepreneurs — complementary skills and a matched passion for winning.

    Fieri provides advice for entrepreneurs in something he adlibs the 25/8 rule. “If you don’t have spark, you don’t have sh-t. But it takes hard work. It’s one of the things this country was founded on and the sacrifices our veterans made. Get the 40-hour workweek out of your mind. You’ve got to work 24/7, and in my book, it’s more like 25/8. But it’s important to remember that you also live 25/8. Don’t make work and life separate, make it the same thing, and put it all together.”

    Hagar realized corporate success through gates of established fame and beliefs that allowed him to bring passion over profits to his pursuits outside of music. “I came through music and had more success, fame, and fortune than anyone could ever want in their lives. When I started doing business deals, it was strictly out of passion and creativity, with a strong connection to music.” It’s become personal for Hagar, who finds peace and reward in his Hagar Family Foundation, providing services for kids and families in need. Hagar remembers being poor and sees his job as assisting communities and giving back.

    Hagar’s mother, if not for an unexpected supporter, was given typing classes that resulted in an office job and away from day-labor work in the fields. Hagar repeatedly shares, “What if? What if she wasn’t so lucky?”

    Don’t make the mistake of thinking a little tequila can knock these two back. Hagar and Fieri have discovered the entrepreneurial recipe that celebrates friendship, revenue and a splash of legacy to personalize the business of experience.

    Most entrepreneur “how to” books scoff at friends going into business together. I guess spirits and rock-n-roll are just a tad bit more exciting than widgets. Hagar and Fieri will be rocking the sipping industry while most of us are rocking our email and spreadsheets. Salud!

    [ad_2]

    Dr. Rod Berger

    Source link

  • 5 Essential Things Leaders Can Learn From Their Employees

    5 Essential Things Leaders Can Learn From Their Employees

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In the era of entrepreneurship and business ownership, many aspiring leaders focus on collecting as much knowledge as possible in terms of running a company or maintaining dazzling team performance. Everyone wants to be the best version of themselves when it comes to professional growth and development.

    Entrepreneurs worldwide try to be constantly on the right track with approaches, business models, leadership strategies, etc. — the world provides plenty of resources and education in the shape of books, courses, seminars and university degrees.

    When it comes to hard skills, though, entrepreneurs can definitely reach out to plenty of resources. We all know, however, that successful leadership is closely connected with soft skills and certain management strategies. What if the employees themselves could teach entrepreneurs useful tips?

    Related: 5 Lessons a Boss Should Learn From Employees

    The team is the mirror an entrepreneur looks straight into

    Usually, we tend to believe that the entrepreneur is the one who teaches their employees all things important when it comes to business and work ethic.

    But much like every major aspect of life, it’s a two-way street. A leader can surely share plenty of useful knowledge with their team but the other way around is definitely as important. Being part of a team is incredibly beneficial both for the employees and the entrepreneur. Through tasks and duties, the team can in fact share beneficial knowledge in terms of soft skills and personal growth — they both are crucial when it comes to successful leadership.

    All it takes is for the leader to actually listen and pay attention to their surroundings. They’d be surprised to know just how much they can learn through daily communication with the team members. At the end of the day, a leader’s success is measured mostly by the success of the team — what’s important here is that this success is not because of the leader only; the employees themselves contribute a great deal by showcasing their personal experiences, work ethic and communication strategies.

    Related: Why Lifelong Learning is the Key to Entrepreneurial Success

    5 things employees can teach leaders

    A good leader is someone who never stops trying to improve themselves work-wise. And while books and courses are always a great option, we can actually add some additional sources of knowledge and experience. Here are five things an entrepreneur can indeed learn from their relationship with the employees at the office.

    1. Diversity in teams, even when challenging, is definitely worth the effort. A team may (and should) consist of different people with different backgrounds and experiences. This way everyone can easily contribute to the whole group by sharing thoughts and beneficial ideas. The trick for the leader here is to learn how to balance out all the diverse opinions and work approaches. Essentially, this could teach them a thing or two about flexibility and team growth.
    2. Communicating with the employees daily requires the leader to put all theoretical knowledge into practice. Teamwork is indeed a great source of various types of situations and issues that need solving and fixing. Even if an entrepreneur has mastered the management theory, only a live situation can actually showcase all this knowledge in practice. That’s why it’s often said that a good leader is someone who manages to keep their team happy and content with the work they do. Without the team, the feedback and the plethora of situations a workday presents, we, as entrepreneurs, could never really improve our theoretical knowledge and check whether it’s suitable for actual situations.
    3. There’s a close connection between the leader trusting their team and trusting themselves as well. We all know that trust is essential when it comes to establishing great professional relationships. If a leader fails to trust their team, then delegating work may soon result in interpersonal issues and arguments. Since building trust is mutual, whenever a leader allows themselves to let go of control and trust their team members, they also showcase trust in themselves. Why? Simply because the team’s success proves the leader’s fair judgment. Whenever an entrepreneur sees how well they’ve managed to distribute work, they ultimately begin trusting their skills as well.
    4. Since the team often consists of professionals, there’s a high chance the leader can oftentimes take the role of a student. There’s beauty in not knowing everything all the time. This way, any person can allow themselves to submerge in other people’s knowledge and expertise. Coming from a place of respect and trust, entrepreneurs can learn a lot of skills from their employees that later could be used in their own experiences. We all are teachers and students at the same time — the fact that someone is a team leader doesn’t necessarily mean they’ve got nothing to learn from the members of that same team.
    5. While money is important, being happy with what you do is more important. Nowadays, a great majority of employees worldwide tend to choose satisfaction and happiness over big paychecks, especially if the latter is at the expense of the first. Through this constant chase after work fulfillment, entrepreneurs and leaders could indeed stop for a second and remember what truly makes their engine run. Essentially, this is the core of truly successful businesses.

    Related: How Becoming a Lifelong Learner Is a Must If You Want to Achieve and Maintain Success

    Being part of a team, regardless of the role, is an incredible opportunity for everyone to learn so much and further elevate their professional expertise and personal development.

    Entrepreneurs and leaders worldwide can indeed benefit quite a lot if they listen and pay attention to their teams. Through this enriching experience, they can gather additional information and knowledge on all things worthy and self-improving. It would be for the better if they play the role of a student from time to time since this position allows them to truly open the door toward successful leadership and business ownership.

    [ad_2]

    Ivan Popov

    Source link

  • How to Create a Culture of Gentle Accountability in 3 Steps

    How to Create a Culture of Gentle Accountability in 3 Steps

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    I see it every week: the frustration over blown deadlines, the I’ll-get-this-to-you-by-tomorrow commitment that floats into next week, the helplessness with always waiting on the same person to follow through on what they said they would do. So many leaders I work with are discouraged with their culture of accountability, not only because they believe they can’t trust their reports, but also because they really want to. They feel like they’re on a tightrope, balancing between being a compassionate, inspiring leader and a deadline-minded hardass.

    Accountability is an important part of culture, but according to the Workplace Accountability Study from Partners in Leadership (now Culture Partners), as many as 93% of employees are “unable to align their work or take accountability for desired results.” How do effective leaders hold that tension between giving autonomy and holding a commitment to results? How do they motivate their team while keeping an eye on the dependencies in their work outputs? It begins, like it ends, with clear agreements.

    Related: Here’s How to Foster a Culture of Accountability at Your Business

    Agree on clear agreements

    A clear agreement is an agreement that has three crucial components: who is going to do what by when. It’s all very head-noddable, and I see how simple it sounds. It’s probably nothing new to you, actually. But like most simple, important things, it’s also really hard.

    Think about your current requests or tasks due. Does each one have a clear owner, or is ownership implied or diffused amongst several people? Is the outcome crystal clear and ideally in the form of a deliverable, such that completion is unambiguous? And is there clarity on when the total task or milestones are due? “This week” and “end of day” aren’t specific, and they mean different things to different people. Contrast that ambiguity with a clear, thoughtful request: “Jane, do you agree to send me a one-page summary of the product capabilities by 5:00 p.m. Eastern tomorrow?”

    The way to arrive at this clarity, though, isn’t as simple as just starting it from scratch. Sure, this clarity is valuable, but any agreement is, by definition, between two or more people. And this way of communicating is, in itself, an agreement. As a first step, take time with your direct reports to share that you’re going to form clear agreements with them. Explain what you mean by this, and ask if they agree to form clear agreements, too. This gives them a chance to opt in and gives you a social contract to fall back on later.

    Honor most of your agreements

    The Conscious Leadership Group suggests that good leaders keep about 90% of their agreements. Life happens, and nobody is perfect, but the aspiration is to keep agreements as often as possible. When you realize that you can’t keep an agreement made, move quickly to renegotiate the agreement. A renegotiation means more than simply letting people know you can’t keep your agreement. Just like an agreement requires two or more people, so too does a renegotiated agreement.

    The important role of the leader, here, is to role model making and keeping agreements. Setting a culture of gentle accountability begins with this commitment. As a starting point, hold yourself to the highest standard of clear agreements. Include a clear who, what and by when, and then make your follow-through visible. Hold to your agreements as a signal to your sincerity of them.

    Related: How to Increase Accountability Without Breathing Down People’s Necks

    Clean up any broken agreements

    Despite our best intentions and efforts, though, we will break some of our agreements. Again, this is an opportunity to role model and support the commitment to clear agreements. In fact, this is the most important opportunity to reinforce this. Agreements will inevitably be broken, and unless they are cleaned up quickly and deliberately, the commitment to clear agreements will start to dissolve.

    The very first step is to acknowledge that you were out of integrity with your agreement. Integrity, here, is acknowledging that you made a commitment to do something by a certain time and that you lapsed in that commitment. It’s a heavy word by design, but it doesn’t need to be a heavy conversation. If I’m late to a session with a client, I simply say “I want to acknowledge that I’m two minutes late to our meeting and I’m out of integrity with my agreement to start at the top of the hour.”

    The second step is to ask what can be done to repair trust. Being late to a meeting might only require a recommitment to being on time. Being chronically late or breaching a more sensitive agreement might require a more significant conversation and change. This is a critical step. Note that this is not an apology. This is a sincere acknowledgment of a broken agreement and a heartfelt bid to repair trust going forward.

    Related: Want Accountability Within Your Team? Start at the Top

    Building a culture of gentle accountability begins and ends with clear agreements. A foundational conversation on committing to clear agreements, a pre-agreement, is the starting point. The commitment then lives with your actions as a role model, and it grows with your attention on renegotiating and clearing up broken agreements.

    This is what it means to have gentle accountability. When leaders role model integrity and set expectations of clear agreements for everyone, including themselves, accountability moves away from a hardened practice of timelines and consequences. It simply becomes part of the cultural fabric and a shared way of communicating. It becomes supportive and meaningful. Good luck on your journey.

    [ad_2]

    Jason R. Waller

    Source link

  • 5 Ways to Build Courage and Competence for Difficult Conversations

    5 Ways to Build Courage and Competence for Difficult Conversations

    [ad_1]

    This story originally appeared on Ellevate

    Some people think I’m courageous. I’ve lived and worked all over the world and regularly speak in front of hundreds of people, so I must be, right? Well, no. For whatever reason, I don’t find that scary, and courage is the ability to do something that frightens you. What would take courage is for me to jump out of a plane. So, I don’t do it. And I’m comfortable with that because, let’s face it, there is very little upside in falling through the air.


    asiseeit | Getty Images

    One thing that most people find frightening is speaking up when faced with decisions or actions they disagree with. And that makes sense: Many of the stories we hear about people speaking up end with the individual facing some kind of negative outcome, including, in extreme cases, being ostracized. There are few movies or books written about employees who point out a problem and are immediately thanked and rewarded for doing so, and yet that happens, too — and more often than you might think. When people speak up effectively, they can find that not only do they survive, but thrive.

    [ad_2]

    Ellevate

    Source link

  • A Simple Guide to Software Integration for Startups

    A Simple Guide to Software Integration for Startups

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Your product is your company’s primary selling point, but it doesn’t have to be the only feature. In fact, when companies open up their products to integrations with third-party software, they unlock an entire world of possibilities. In the years since releasing our flagship product, the smart video intercom, the ButterflyMX team and I have made a pointed effort to expand our reach by integrating our software with third-party products.

    For example, just this year, we partnered with RemoteLock so that our unified access control solutions now connect to more than 80 smart locks to seamlessly provide building and apartment unit access from our mobile app. This has significantly expanded our products’ capabilities without the time, energy and financial investment of launching an entirely new product, which has helped grow our business substantially.

    If you’re at the helm of a startup looking to expand your product’s reach, consider integrating with other software.

    Related: Challenges that Companies Face in Software Integration

    What are the benefits of integrating your product with other software?

    No matter what product or service you offer, by integrating with other software, you combine various platforms into one unified software architecture. And by creating a large, integrated system, you increase functionality and convenience for consumers.

    Further, integrating your product with other software expands your product’s capabilities without the need to develop new products. Software integrations allow you to advance and expand your product faster because you exponentially increase its capabilities. Software integrations also offer an easy way to advance professional relationships with other companies in the industry.

    Why are partnerships important?

    When you’re building a company from the ground up, you must develop partnerships. Across all industries, the leading companies boast multiple integrations. In fact, the average SaaS (software-as-a-service) company has 15 integrations. However, some SaaS companies boast upwards of 500 integrations. By partnering with another company in your industry, you become a part of their growth. Then, when their product succeeds, so does yours, and vice versa.

    One of the biggest advantages of establishing integration partners is enhanced company growth by expanding your user base. Not only are you giving your customers a new tool or feature — leading to higher customer retention — but you’re also opening your business up to an entirely new customer base. With a partnership in place, you can expand your customer base and add new users with ease.

    Overall, developing deep business partnerships and software integrations will grow your business short- and long-term. In fact, you can think of new integrations as a new sales channel. You’re adding your products and services to an entirely new marketplace.

    Because your software integrations should be with companies in your industry or a related one, you’ll be selling to new customers with a similar customer profile. This means your product will inherently address their needs.

    How to approach partnerships as a startup

    So, you’ve decided it’s time to grow your company by enabling third-party software integrations. But how do you go about finding worthwhile partners? First, you need to look for companies whose customers match your ICP, or ideal customer profile. An ideal customer profile is a detailed outline of your company’s ideal client. The ICP is used to adjust marketing and lead generation tactics.

    By working with companies whose ICP matches yours, you increase the likelihood that their customers will find value in your product and vice versa. But remember, software integration isn’t a completely smooth process. The more integrations you enable, the more maintenance you’ll perform. Additionally, when changes are necessary, you must obtain approval from teams at both companies rather than just your own.

    So, ensure you have an internal team who can dedicate their time primarily to building the integration from the ground up and maintaining it post-launch to address and solve problems.

    Related: How to Use Strategic Partnerships for More Explosive Growth

    How to integrate your product with other services

    While software integration presents a unique and valuable opportunity for your business, partnerships aren’t guaranteed to succeed without hard work. In addition to a relevant and high-quality software integration, you need a robust strategic outline.

    Make sure you put your customers’ needs above all else. When building your software integrations, consider which products your customers already use, what kind of systems they may want to integrate with and how a specific integration can improve their experience with your product.

    Further, ensure that your integration has longevity by creating a strong foundation for your partnership. Integrations aren’t a quick hack to multiply your customer base. Instead, you should develop integrations with long-term business goals in mind. Then, with each new iteration of your integration, take into account customer feedback to improve the integration and your product overall.

    [ad_2]

    Cyrus Claffey

    Source link