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Tag: Collaboration

  • What is The Future of Coworking Spaces in a Hybrid World? Here’s Everything You Need to Know. | Entrepreneur

    What is The Future of Coworking Spaces in a Hybrid World? Here’s Everything You Need to Know. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    What is the future of coworking spaces in an increasingly hybrid world? As the CEO of Disaster Avoidance Experts, I’ve been at the epicenter of this seismic shift, helping companies navigate the complexities of hybrid work models. One of the most transformative trends I’ve observed is the decline of traditional office spaces and the meteoric rise of coworking spaces.

    The decline of traditional office spaces

    The traditional office, once a symbol of corporate stability and structure, is rapidly becoming an anachronism in today’s fluid work environment. As companies grapple with the complexities of a post-pandemic world, the limitations of conventional office spaces are becoming increasingly evident. The rigidity of long-term leases, the inefficiency of underutilized spaces, and the financial drain of maintaining large physical footprints are compelling companies to rethink their real estate strategies. No wonder that McKinsey Global Institute estimates that pandemic shifts could erase as much as $1.3 trillion of real estate value in big cities around the world by 2030.

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    Gleb Tsipursky

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  • Insider Secrets That Will Help You Build a Thriving Startup | Entrepreneur

    Insider Secrets That Will Help You Build a Thriving Startup | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Launching a startup is no small feat; it’s a thrilling ride but also a bumpy one, and it takes more than a bright idea to navigate it successfully. Securing funds, putting together a dream team, setting appropriate goals and managing the daily hustle are all part of the gig.

    Over the years, not just working with startups but also founding one myself, I’ve seen firsthand that there’s no one-size-fits-all process. However, having the right mindset and a few solid strategies can take you a long way, and these strategies work across the board as success is usually dependent on your approach and commitment.

    Related: 8 Practical Tips for Successfully Launching Your Startup

    Time and resources

    Mastering time and resource management is a critical element in the formula for startup success. My entrepreneurial journey taught me that trying to juggle all balls at once can often lead to dropping them all; it’s important to remember that not every task demands your direct input and many could be managed more efficiently by others.

    However, this isn’t merely about shifting tasks; it’s about empowering your team, enhancing their skills and freeing up your schedule to focus on pivotal aspects. As a founder, your prime responsibility should be steering the strategic course, envisioning your venture’s future and tracking progress. Operational tasks, while vital, can and should be delegated.

    Executive leadership

    Teaching and guiding require effort, and this is where fractional executives step in. They handle crucial business areas for specific projects or durations, adding much-needed agility to your startup’s dynamic pace. A fractional Chief Operations Officer (COO) can optimize operations, while a Chief Human Resources Officer (CHRO) addresses talent issues, freeing you to strategize and drive results.

    It’s important to note that “fractional” doesn’t mean “disengaged.” In fact, these executives are deeply committed to your business’ success, providing expertise as needed. This gives you timely support without the commitment of a full-time role.

    Leveraging their rich knowledge, fractional executives can significantly elevate your operations and strategy. And before making any commitments, you have the opportunity to experience specific roles or individuals, which significantly reduces hiring risks. Also, their vast networks can introduce you to potential investors, partners, vendors and clients.

    I’ve personally witnessed fractional roles like COO, CHRO, CTO or CEO making significant positive impacts. The primary advantage? Cost-effectiveness. You receive top-tier expertise without the full-time executive cost.

    Funding

    One of the biggest mistakes I’ve seen startups make is chasing funds without a solid plan on how to manage them. After all, money has a sneaky way of slipping if you’re not keeping a close eye on it. Bringing in a finance wiz, like a fractional Chief Financial Officer (CFO), right from the get-go, may be one of the best things you can do. An experienced Fractional COO can help attach numbers and dates to your goals, helping put investors’ minds at ease when making the decision to invest.

    You may be thinking, “But I can do all this myself,” and if so, that’s great! However, if you spend all of your time worrying about budgets and timelines, you will have a harder time finding the bandwidth to strategize and work toward your company’s growth potential.

    Bringing someone on board helps you understand your burn rate and project revenues and helps you align expenses with growth plans, almost effortlessly. They can establish a robust financial plan that builds investor trust — the key ingredient needed to secure and sustain funding long-term — while allowing you to focus on your product, service or market.

    Related: 8 Bulletproof Ways of Turning a Startup Into a Thriving Business

    Systems and processes

    As your startup scales, your operational volume will increase rapidly. The capability to manage this surge without a corresponding hike in complexity, risk and cost is crucial for viability. A seasoned pro like a COO, with a resume spanning across industries and companies, can use their sixth sense to avoid unnecessary risk, spot inefficiencies and create processes to optimize growth.

    A good COO establishes scalable systems and workflows that evolve with your startup, ensuring smooth and effective operations throughout multiple growth stages and eliminating the need for constant process reevaluation.

    Technology

    In the fast-paced startup world, leveraging technology can fuel growth. Incorporating AI and machine learning can streamline complex processes, provide valuable customer insights and enable trend analysis and prediction, giving your startup a competitive edge, faster.

    However, it’s crucial to remember that technology is not a one-size-fits-all solution. It should strategically align with your startup’s unique needs and overarching business strategy.

    Having a technology expert well-versed in the startup landscape, such as a fractional COO, CIO (Chief Information Officer) or CTO (Chief Technology Officer), can provide support tailored to your needs. They can implement suitable technologies, create growth plans and offer insights on tech options that complement your mission, preserving the human touch amid the automation race.

    Networking and strategic partnerships

    Through my experiences, I’ve come to recognize something important: The most valuable opportunities and lessons often emerge when we least expect them, and only by keeping an open, adaptable and receptive mindset can we truly seize such opportunities.

    We can sometimes fall into the illusion of having all the solutions, but truth be told, we don’t, and it’s important to acknowledge our limitations. In fact, when we become immersed in our business bubble, we can develop blind spots that limit our ability to think outside the box and explore new possibilities. In comes networking.

    Networking goes beyond expanding your business connections — it can not only enhance existing strategies but also uncover innovative ideas, foster collaborations and ultimately drive your startup toward its next breakthrough in the most efficient way possible. So, I encourage you to step outside of your comfort zone, collect new perspectives and use your interactions to enhance the way you operate.

    There’s incredible strength in acknowledging that you shouldn’t do it all alone. In fact, the secret to a thriving startup lies in your ability to recognize and admit when you need assistance. So, surround yourself with experts who can contribute to your growth, and remind yourself that asking for help isn’t a sign of weakness, but rather a cornerstone to success.

    Related: 5 Must-Haves for Entrepreneurs and Their Startups to be Successful

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    Adi Vaxman

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  • If You Cancel a Meeting With the Boss At This Company, Something Odd Happens | Entrepreneur

    If You Cancel a Meeting With the Boss At This Company, Something Odd Happens | Entrepreneur

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    At the company I lead, anyone can opt out of any meeting, at any time, for any reason — even if it’s with me. Zero judgment. Zero repercussions.

    The way I see it, meetings are more than just gatherings of people; they are structures to build healthy respect for people’s time and talents. I want those ideals to be core to my company.

    Also, let’s face it: Most meetings suck.

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    Sarah Kellogg Neff

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  • 5 Steps for Consistent Lean Operations | Entrepreneur

    5 Steps for Consistent Lean Operations | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

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

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

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

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

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

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

    1. Understand your key customers

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

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

    2. Diversify perspectives

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

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

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

    3. Establish metrics for progress and success

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

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

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

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

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

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

    5. Foster a culture of continuous improvement and respect

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

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

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

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    Jack Truong

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  • Free Webinar | October 26: How to Be a Visionary Leader for Yourself and Those Counting on You | Entrepreneur

    Free Webinar | October 26: How to Be a Visionary Leader for Yourself and Those Counting on You | Entrepreneur

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    Vision is the cornerstone of achievement, and visionary leaders possess the unique ability to see opportunities where others see obstacles. Learn how to unlock the secrets of becoming a visionary leader and start your journey toward unprecedented success!

    Join us on October 26th at 2:00 PM ET for an inspiring webinar led by Logan Stout, author, keynote speaker, and entrepreneur, whose companies have generated billions in revenue. Discover how you can become a visionary leader not only for yourself but for everyone counting on you.

    During this insightful webinar, you will learn:

    • How to establish a clear Vision that guides your path to success.
    • Strategies to take action on your Vision and turn dreams into reality.
    • Techniques to embody your Vision, making it an integral part of your leadership style.
    • Methods to effectively transfer your Vision to inspire and empower your team.
    • The self-discipline needed to stay committed to your Vision, no matter the obstacles.

    Don’t miss this opportunity to learn from Logan Stout’s wealth of experience and wisdom. Register now to secure your spot for this transformative webinar on visionary leadership! Whether you’re an aspiring leader or an established one, this event will equip you with the skills and mindset needed to make your Vision a reality.

    Register now and set yourself on the path to becoming a visionary leader.

    About the Speaker:

    Logan Stout is an accomplished business owner having generated billions of dollars of revenue throughout his career. He is a philanthropist, entrepreneur, best-selling author, keynote speaker and leadership trainer who has made regular appearances on all forms of major media outlets: TV, Magazines, Radio, Podcasts and more.

    He has been endorsed by Hall of Fame athletes including Troy Aikman and Pudge Rodriguez, renowned entrepreneurs Barbara Corcoran and Daymond John from ABC’s Shark Tank, Success Magazine’s Darren Hardy, Zig Ziglar’s son and CEO of Ziglar, Inc. Tom Ziglar and many more spanning a wide range of professions.

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    Entrepreneur Staff

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  • High Rise Beverage Company Announces Sony Music Nashville Partnership

    High Rise Beverage Company Announces Sony Music Nashville Partnership

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    Press Release


    Sep 27, 2023 09:00 EDT

    The Hemp-Infused Seltzer Will Now Be the Exclusive Non-Alcoholic Beverage of Sony Music Nashville

    High Rise Beverage Company has announced it is officially the non-alcoholic beverage partner of Sony Music Nashville. 

    “We could not be more thrilled to join the Sony Music Nashville family with our full High Rise line of products,” says owner Matt Skinner. “With more and more people turning to non-alcoholic options, the High Rise brand strives to promote a more inclusive drinking culture.”

    High Rise Beverage Company is proud to be the official non-alcoholic beverage partner of Sony Music Nashville. High Rise is dedicated to crafting a range of non-alcoholic beverages — ensuring that there’s something for everyone to enjoy. High Rise first worked with SMN during its Sony Music Live! activation during the 2023 CMA Fest, an event that became the genesis of this larger partnership. High Rise Beverage brand will be highlighted at upcoming SMN activations surrounding award shows and industry events. In addition to having a presence at external events, High Rise will also provide cans for SMN artist hospitality, internal staff events, and in-office artist performances. 

    Crafted in the Southeast with real fruit, organic cane sugar and infused with full-spectrum hemp, High Rise is one of the most versatile canned beverages on the market. The hemp-derived cannabis infused into these seltzers is a non-alcoholic alternative and may help enhance pleasure and motivation, regulate sleep, and reduce inflammation. High Rise boasts a full line of seltzers with flavors like mango, blueberry, and lime. Now being distributed by Lipman Brothers Distributing, High Rise is available across Tennessee for purchase. High Rise is also currently distributed in North Carolina, South Carolina, Georgia, and Florida. For more information on where to buy High Rise, visit our website or follow us on social media, @highrisebev.

    Source: High Rise Beverage Company

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  • 3 Ways to Raise Capital as a Small Business | Entrepreneur

    3 Ways to Raise Capital as a Small Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Raising capital can be a challenge for anyone, but particularly for small businesses. Oftentimes, investors are looking to put their money into something with multinational growth potential rather than something more local. In many cases, you may need to raise smaller amounts, possibly in the thousands of dollars or the tens of thousands. Therefore, to raise money as a small business requires a different approach.

    As a multimillionaire real estate investor and trainer, I often teach my students how to raise capital for their first property deal. Many of my students are new to real estate and are looking to purchase a relatively cheap property in the North of England. This is unlikely to be of interest to a seasoned angel investor, but there are lots of people that this type of investment would suit very well. In many ways, this is a similar situation to raising capital as a small businessperson.

    I have found that there are many ways to raise capital for a small enterprise, whether as a joint venture or in the form of debt. Once you have mastered these skills, you will have a world of opportunity in front of you. But first a note of caution: Each jurisdiction has different rules regarding raising capital, so seek independent legal advice to make sure your chosen approach is compliant.

    Related: 3 Ways to Raise Capital and Take Your Business to the Next Level

    1. Talk to people you know

    When I am training my students, they sometimes tell me that they don’t know anyone rich to approach. The reality is, however, that when raising smaller amounts, you don’t actually need to know anyone rich. Many ordinary people have savings in the bank that are sitting there being eaten away by inflation. These people are often willing to lend that money out for a much higher return than they would get from the bank.

    Of course, they will need to know that their money will be safe. In real estate, this often means the debt will be secured against the property. In other areas of business, it might mean securing the debt against product inventory or by other means. Alternatively, depending on the other party’s risk tolerance, you could consider a joint venture partnership where you share the profits.

    Asking people you know for an investment can put both parties in a difficult position, therefore it is important to phrase your request correctly. Rather than asking directly, simply talk about your project and ask if they know anyone who might be interested in investing. If they want to invest, they will let you know. If they don’t want to invest, they can pass on the deal without any awkwardness. In addition, even if they don’t want to invest, there is always the chance that they know someone who might.

    Related: 5 Innovative Ways for Entrepreneurs to Raise Capital in Today’s Market

    2. Connect at business networking events

    The next way to raise capital is to attend business networking events. Business networking events are a great way to get to know people who are potentially interested in investing in new projects. It is important to remember, however, that all the other business people attending the event are also looking to promote their business. You need to listen and learn about what they are doing and find ways for your project to solve their problems.

    There may be people who are looking to deploy capital either to get a fixed return or on the basis of a joint venture partnership. Of course, these people are highly unlikely to want to invest in your project on the basis of a single meeting at a networking event! Your job is to plant a seed.

    Explain what your business is and mention that one way you expand is to raise capital from business owners who want to put their money to work. Explain that they prefer not to keep their money in the bank where its purchasing power is being eaten away by inflation. Don’t suggest that they invest at this stage. Let them think about what you have said and come to you.

    Related: How Entrepreneurs Can Maximize Networking to Increase Funding

    3. Engage on social media

    Another way to get investors’ attention is to document your journey on social media. People invest with people that they know, like and trust — and social media is a great way to get people to know, like and trust you, so long as you’re authentic.

    If you let others see the human being behind the brand, you will find like-minded people who gravitate toward your personality and vision. These people are more likely to want to invest in your business or project. You don’t need millions of subscribers on YouTube or Instagram either, just a few highly targeted followers who care about your brand.

    When raising money from the public on social media, it is especially important to make sure you are following the law. Speak to a lawyer and understand what is and isn’t allowed in your jurisdiction. However, as long as you follow the applicable rules, social media is a great way to connect with investors.

    It’s time to take action

    It can be hard to raise capital for a small local business if you haven’t learned the right strategies. Ultimately, however, raising capital is possible at any level — if you employ the correct approach. If you know how to find and communicate with your target investors correctly, you can easily raise capital for your small business.

    You have just learned everything from how to correctly approach people you know to how to use social media to your advantage. Now that you have read this article, it is time to take action. Those who take little to no action will continue to find raising capital hard. On the other hand, those who apply the lessons above will find that raising capital for their small enterprise is a lot easier than they thought.

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    Samuel Leeds

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  • Your Business’ Growth Starts With Trust — Here’s How to Build It. | Entrepreneur

    Your Business’ Growth Starts With Trust — Here’s How to Build It. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    How many entrepreneurs are positive about achieving lofty revenue projections over the coming months? According to a 2023 Bank of America survey of mid-sized company owners, 75% said they were headed toward expansion. Their enthusiasm is refreshing amid dire headlines regarding the high rate of current and anticipated bankruptcies. This optimism shows pluck and determination, which is exactly what everyone would expect from startup founders.

    Yet moxie isn’t enough to push a business from one level to the next; major growth within organizations happens when there’s a widespread sense of trust between all interconnected parties. Whether this trust is built upon the Lencioni Trust Pyramid or a similar trust triangle concept doesn’t matter. The point is this: You can have great people doing great work, but if there’s a lack of trust throughout the organization at any level, you’ll never scale.

    Healthy trust matters. When you have trust, you can “go there” transparently and enter the danger on topics without holding back. You’re able to set your reservations off to the side and have difficult conversations and respectful debates. People are more willing to listen, make commitments and be accountable when they trust each other. Plus, they become more open to following a shared vision.

    As savvy leaders know, a solid corporate vision is key to growth because it serves as a North Star. With enough trust in this collective vision, your people are able to see how they can contribute without barriers. They can see the forest for the trees and be assured that their “tree” contributes to the greater whole. When people put their guard down, they can share the excitement of scaling bigger and accomplishing company goals. With trust and shared vision, people feel like more than just a cog in a machine. Instead, they’re adding something special to the mix and experiencing genuine purpose — something around two-thirds of people told McKinsey & Company they wanted from their employment.

    When you don’t have trust, you have people moving in different directions and doing different things for different reasons. In that type of mismatched environment, there’s simply not enough traction for significant growth. You can build minimally viable products or set up sprints, but you can’t scale up effectively until you establish a baseline of trust.

    So, how do you align all your team members and stakeholders toward a common vision that promotes a high degree of trust?

    Related: Your Team Will Succeed Only If They Trust Each Other

    1. Know who your players are

    It’s impossible to engage your stakeholders if you don’t know who they are (and you can be sure that you have a matrix of stakeholders). Your job is to foster trust with all the relevant players, or else you’ll be dealing with a wavering house of cards that isn’t glued together by trust.

    At our organization, we’ve spent considerable time listing out our various stakeholders for this reason. Our stakeholders include folks on our leadership team, mid-managers, individual contributors, partners, board members, investors, sponsors and layers of customers buying different branded products from us. Our list ended up with 26 groups of stakeholders we serve, much longer than anticipated. Your list will probably be longer than you expect, too.

    When we saw how diverse our list was, we realized how important it was to build trust among and within those groups through intentional actions and communications. Trust wasn’t going to happen by coincidence in a group that large, a fact we might have overlooked without seeing our expansive stakeholder list laid out before us.

    Related: Do You Know What Your Team Needs? Here Are 5 Ways to Find Out

    2. Engage with your stakeholders frequently

    Recent research shows that most of us know when communication feels clunky or unclear. Expert Market dug into the topic and noted that 86% of workers agreed that poor communication was a top reason for business failure. In other words, if your stakeholders aren’t being engaged and enlightened, you’re not likely to fuel the productivity and performance necessary to meet your growth goals.

    The solution to this problem is to stay in touch with all stakeholders early and often. Whether it’s asking them for thoughts on a project or sharing important information and news, you must keep them in the loop. We hold quarterly State of the Company updates for some of our stakeholders to teach them about where we’ve been, where we are and where we’re going. Keeping the lines of communication open and reiterating everything from your core values to your anticipated product development is essential to building up valuable “trust credit.”

    3. Collect and use feedback from stakeholders

    Are your stakeholders walking the same path you are? Do they agree you’re on the right track? You can’t be sure until you validate those answers with feedback. Begin to ask deeper questions like, “Where have we not been as clear as we should?” or open-ended invitations such as “Help me understand your concerns.”

    It’s critical to remember your customer and user stakeholder groups during this process. Listening to and learning from users about what they need allows you to build and expand your product or service while eliminating gaps in your relationship with them. For instance, you might ask about how you’re performing from their point of view; doing so will give you a valuable reality check. It’s hard to hear when stakeholders are disappointed or want to go in another direction, but if you’re not having conversations with them, you’ll never truly gain their insight and trust.

    Related: Open vs. Anonymous Employee Feedback — Which Is Better?

    Coca-Cola, for example, uses a social listening strategy that collects data to improve its products, services and marketing campaigns. This constant feedback loop allows the company to understand its customers’ wants and how to provide for them. At EOS, we like to have conversations with users using a tool we call “DOS” — the dangers, opportunities and strengths of our products. Getting clear on a potential danger, like an economic impact, makes us think deeper about how to serve that stakeholder group while still moving toward a bigger vision. While not everything unearthed during DOS requires immediate action (discernment is essential), it is all valuable to understand and envision solutions for our customers.

    Moving forward — no matter what the market’s doing — it takes effort, positivity and practical thinking to grow and scale a business. It takes trust, too. In all your growth planning, stay focused on solidifying the trust between everyone who’s integral to your success. Don’t wait to start building the relationships that’ll build your company. You’ll soon see a positive shift in everything from your brand reputation to your bottom line.

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    Kelly Knight

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  • We’re Not in a Recession — It’s All Hype. Here’s Why. | Entrepreneur

    We’re Not in a Recession — It’s All Hype. Here’s Why. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The so-called post-Covid recession initially emerged as a global economic downturn following the widespread impact of the Covid-19 pandemic on businesses and economies. Characterized by widespread unemployment and reduced consumer spending, the “recession” dealt a severe blow to industries heavily reliant on human interaction.

    It is said that the “recession” prompted a shift in consumer behavior, with increased emphasis on ecommerce, remote work and digital services, accelerating the adoption of technological advancements.

    While some industries floundered, others experienced unexpected growth, such as pharmaceuticals, online entertainment and certain segments of the technology sector. As vaccination efforts progressed and the pandemic’s grip began to loosen, economies cautiously started to recover, but the long-term repercussions continued to shape policy decisions and economic strategies for years to come.

    The whole economic picture has made me wonder whether there has ever been a real recession.

    My stance on this: The great post-Covid recession wasn’t real. It was inflated and hyped by the media. Here is how it happened.

    Related: Our ‘Rolling Recession’ Is the Latest Economic Meme — But What Does It Actually Mean?

    Budget surplus

    The world printed a lot of money to get through Covid-19, probably too much. The global response to the COVID-19 pandemic prompted countries to adopt expansive monetary policies, resulting in a significant increase in money supply as governments aimed to stabilize their economies.

    Remarkable fiscal measures were taken, including printing money, lowering interest rates and enacting extensive stimulus packages. These interventions averted an immediate economic catastrophe and led to an unexpected outcome for some countries: budget surpluses.

    Increased government spending and reduced economic activity due to lockdowns meant that the money injected into the economy often exceeded the actual demand for goods and services. Certain sectors of the economy remained relatively stagnant while the money supply continued to grow.

    While a budget surplus might seem like a positive outcome, it also brought challenges. While it offered opportunities for financial resilience and investment in key areas, it also posed challenges in terms of managing the money supply, preventing inflation and making strategic allocation decisions.

    Related: 5 Ways to Get Media Coverage for Your Brand

    Financial market bubble

    The surplus created a bubble in financial markets, spurring the initial media frenzy capturing the attention of experts, investors and the general public alike.

    Memories of past market crashes and economic downturns fueled the media frenzy, surrounding the post-Covid bubble. Experts weighed in on the potential consequences of such inflated valuations, warning of the risk of a sudden and dramatic correction that could wipe out gains and impact broader economic stability.

    As a result, regulatory bodies and central banks faced heightened pressure to monitor and manage the situation. Striking a delicate balance between sustaining economic recovery and preventing speculative excesses required careful policy decisions and timely interventions to avoid a potential market collapse.

    Strong labor market activity

    What’s important to note is that the labor market activity remained strong, thereby offsetting the potentially catastrophic impact of the inflated markets with real economic growth.

    Contrary to the prevailing narrative of widespread economic disruption during the COVID-19 pandemic, the labor market activity in some sectors exhibited surprising resilience, demonstrating that not all industries were equally affected.

    While many businesses faced closures, restrictions and job losses, certain sectors experienced remarkable stability and even growth amid the crisis.

    One such sector was technology and remote work. As lockdowns and social distancing measures took effect, the demand for digital services and technology solutions surged. Companies in the tech industry rapidly transitioned to remote work models, which not only preserved jobs but also created opportunities for professionals specializing in software development, IT support and digital communication tools.

    Related: Corporate Productivity in the Tech Industry Is Down: What Is the Real Reason?

    Growth of the ecommerce sector

    The ecommerce industry also saw significant expansion during the pandemic. With traditional brick-and-mortar stores constrained by closures and reduced foot traffic, online retailers flourished. This led to increased demand for warehouse workers, delivery personnel and customer service representatives to handle the surge in online orders and maintain high service standards.

    As traditional brick-and-mortar stores faced restrictions and closures, online retailers surged to meet the increased demand for remote shopping, leading to an expansion in job opportunities within the ecommerce ecosystem. The warehousing and logistics sectors witnessed substantial growth, driven by the need to fulfill online orders efficiently. Warehouse workers, packers and delivery drivers became essential roles as companies hired and scaled up operations to cope with the surge in online shopping. Moreover, customer service representatives and support staff were in high demand to ensure smooth order processing, address customer inquiries and manage returns.

    The expansion of ecommerce led to openings in various domains, including digital marketing, web development and data analysis, as companies sought to enhance their online presence and optimize customer experiences. Additionally, roles related to supply chain management, inventory control and last-mile delivery gained prominence to ensure the seamless flow of products to consumers’ doorsteps.

    The ecommerce labor market growth wasn’t only a response to immediate needs but also reflected a broader shift in consumer behavior, accelerating the ongoing digital transformation of retail. Remote work opportunities also emerged in fields like online customer engagement and technical support as businesses aimed to replicate in-store experiences virtually.

    News-driven recession

    We would never have known the whole story from listening to the news.

    Sensational headlines and dramatic news coverage contributed to the atmosphere of heightened uncertainty and fear regarding the state of the economy.

    Some media outlets focused on worst-case scenarios, exaggerating the scale of job losses, business closures and economic contraction. The media’s portrayal of economic hardships at times failed to acknowledge the resilience of certain sectors and industries that managed to adapt and even thrive during the crisis.

    While there were undoubtedly challenges, the media’s tendency to amplify negative aspects created an inaccurate perception of an all-encompassing economic collapse.

    What conclusions can we draw?

    Take media rhetoric with a grain of salt. Not every day is doomsday.

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    Max Faldin

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  • 5 Ways to Cultivate a Resilient Digital Employee Experience | Entrepreneur

    5 Ways to Cultivate a Resilient Digital Employee Experience | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In an era of rapid technological advancements and an evolving workforce landscape, companies now encounter both previously unimaginable possibilities and difficulties. One of the pivotal challenges plaguing this digital landscape is ensuring a harmonious and satisfying experience for employees, regardless of their location or the devices they use. This is where a well-crafted and comprehensive digital employee experience (DEX) strategy comes into play.

    Related: Unhappy Customers and Employees Can Wreak Havoc on Your Business. Here’s How to Make Both Happy.

    Understanding the essence of the digital employee experience

    Gone are the days when work was confined to physical office space and a standard 9-to-5 routine. Today, employees collaborate across time zones, harnessing a surfeit of devices and applications to accomplish tasks. Before we delve into the intricacies of crafting an effective strategy, we must grasp the essence of the digital employee experience.

    The idea of a people-centric workspace has existed for some time. However, many business leaders and organizations still need clarification on what DEX entails. In simple terms, DEX is the accumulation of every interaction a workforce has with their company’s technologies and processes. However, since every interaction impacts DEX, how can organizations enhance it?

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

    Crafting a harmonious digital employee experience is a dance of technology, creativity and genuine care. Employees more or less want three things in terms of their digital technologies. They want technology that is simple to use, dependable and effective. However, the tricky part is balancing what employees want while maintaining a resilient security posture. Here are five steps for a harmonious digital experience strategy.

    Step 1: Holistic alignment with business objectives

    Creating a harmonious digital employee experience begins with aligning your strategy with overarching business goals. Every digital initiative, whether it’s the adoption of collaboration tools or the implementation of unified endpoint management systems, should be aligned with the company’s larger purpose. This alignment ensures that the digital employee experience is seamless and contributes directly to the organization’s success.

    It’s critical to include important stakeholders from multiple divisions to accomplish this alignment. HR, IT, and upper management should collaborate to identify the most critical digital touchpoints for employees. By weaving the digital employee experience into the organization’s fabric, you create a sense of purpose that resonates with every employee.

    Step 2: Providing a seamless onboarding experience

    An employee’s experience starts from the moment they are onboarded into the company. This marks the foundation for a positive employee experience is laid. Leveraging cutting-edge solutions like Unified Endpoint Management (UEM) and Desktop as a Service (DAAS) can significantly enhance these critical phases.

    UEM allows organizations to efficiently manage and secure various devices, from laptops to smartphones and tablets, from a single console. By providing a seamless and secure onboarding experience across devices, UEM facilitates a positive initial impression for new hires. Furthermore, the implementation of DAAS streamlines the deployment of virtual desktops, guaranteeing that employees enter a uniform and well-optimized workspace right from the start, regardless of their physical whereabouts. This streamlines the onboarding process and empowers remote workers to hit the ground running, eradicating any possible frustrations stemming from technical glitches.

    Step 3: Nurturing the anywhere work environment through remote monitoring

    The modern workforce isn’t confined to a single location, making the health and performance of endpoints a troublesome endeavor.

    UEM solutions shine in this arena by offering remote monitoring capabilities that allow IT teams to watch endpoints’ health irrespective of their physical location. By proactively identifying and addressing potential issues, such as security vulnerabilities or performance bottlenecks, organizations can ensure that the remote work experience remains seamless.

    A common pain point for employees and IT teams is the cumbersome process of resolving technical issues. Waiting for the IT helpdesk to intervene in the application or endpoint problems can lead to frustration and productivity losses. Remote capabilities allow IT teams to troubleshoot these issues irrespective of a device’s location. This approach boosts productivity and demonstrates a commitment to employee well-being, reinforcing a sense of support and care.

    Step 4: Empowering employees through continuous training

    Empowerment is a cornerstone of any successful employee experience strategy. When employees are given the skills and resources to navigate digital obstacles, they develop greater independence and self-assurance in their work.

    Offering comprehensive training sessions on using digital tools, troubleshooting common problems, and staying vigilant against cyber threats can empower employees to take charge of their digital experiences. By fostering a culture of continuous learning, organizations not only enhance the skill set of their employees but also demonstrate a commitment to their growth and development.

    Related: Enough About Employee ‘Engagement’! Focus on the Digital Employee ‘Experience’ Instead.

    Step 5: Measuring DEX success through comprehensive evaluation

    In the realm of business, what is not measured often remains elusive. The digital employee experience is no different. Organizations must set up reliable assessment and feedback processes to assess the efficacy of the tactics they have adopted.

    Surveys tailored to capture employees’ sentiments provide invaluable insights into their experiences. These surveys can delve into aspects such as ease of technology usage, satisfaction with support services, and overall comfort with the digital workspace. Furthermore, leveraging tools such as End-User Experience Management (EUEM) solutions that monitor user interactions and sentiment analysis can provide qualitative feedback, real-time monitoring and a continuous benchmark system.

    Crucially, these measurement strategies should be accompanied by a commitment to iterate and adapt based on feedback. Continuous improvement is at the core of a harmonious DEX strategy, as it reflects an organization’s genuine dedication to enhancing employee well-being and efficiency.

    The way forward

    A harmonious DEX strategy extends beyond optimizing processes; its essence is nurturing feelings of affiliation, empowerment, and employee welfare. In an age where the virtual realm assumes an increasingly significant function in our professional lives, enterprises that give precedence to enhancing the digital employee encounter are better poised to attract, retain, and nurture a workforce that excels within this evolving digital landscape.

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    Apu Pavithran

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  • How This Simple Approach to Goal-Setting Will Ensure Your Productivity | Entrepreneur

    How This Simple Approach to Goal-Setting Will Ensure Your Productivity | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As business leaders, we’re often faced with the difficult and overwhelming task of deciphering exactly what leadership strategies and practices are most effective. Besides just being an expert in your respective field, you have to be responsible for overseeing the business and team.

    Creating bookends in life means establishing a routine that supports each side of your day, but what exactly does this look like in business settings? Bookending in business is a simple yet highly effective technique leaders can use to support productivity and create meaningful success in their roles.

    While some entrepreneurs may be familiar with the concept of bookending, the vast majority do not realize just how valuable it is. By implementing even a few strategies into their workday, entrepreneurs and startup founders can level up their leadership skills and stay on top of business priorities.

    Related: 5 Goal-Setting Frameworks to Help You Live Your Dream

    Make your mindset work for (not against) you

    It all starts with your mindset. Your ability to adopt the right mindset indicates how productive you will be and implore your team to be. For me, the ideal mindset encompasses a positive approach, accountability and transparency. Ideally, these tenets are a preface for working towards a desired outcome. This is especially important in situations where you are responsible for making difficult decisions, and there are circumstances beyond your control.

    For you, this could mean continuous self-improvement, learning from your mistakes, adapting your business or attempting to master new skills. For example, you may be unable to control the fact that you must have an uncomfortable conversation later that day or tomorrow. However, by controlling your mindset going into the meeting, you are contributing to the overall productivity of it. This practice allows you to hone in on your priorities and avoid getting sidetracked.

    Having the right mindset is part of the blueprint for productivity in business and can lead to exponential shifts in outcomes. In other words, consistency is key, allowing you to seize new opportunities. The next part is ensuring that you set clear goals.

    Related: 6 Tips for Goal-Setting That, Trust Me, They Don’t Teach You in College

    A roadmap to leading with intention and goal setting

    Now that you’ve prefaced your ‘routine’ with the right mindset, setting intentions and clear, measurable goals will help you stay on track. There are a few ways to put this into practice, but generally, this means outlining a roadmap for achieving desired outcomes to maximize productivity throughout each interaction, initiative or project.

    Take, for instance, networking as a goal. You can go into events or conversations by reframing the outlook of networking as solely transactional. Instead, consider what an engagement or experience may afford and align your expectations accordingly. In doing so, compartmentalizing short-term or immediate actions based on how they tie into long-term goals will ensure you make the best decisions.

    Related: Effective Networking: The Difference Between Access, Opportunity and Being a Part of the Noise

    It’s also important to note that goals should be realistic and achievable for where you are. As I mentioned, a mindset of accountability and transparency is at the start. Without it, you run the risk of making misaligned decisions. While some goals may be achieved faster than others, it does not mean they are less valuable to the overarching business picture. Remember, you already have a strong sense of judgment, so trust your instincts and consider the goals as a guide.

    Reflect on the results

    Reflecting on your results ensures productivity. Allowing time for daily reflection will create new insights that drive new behaviors, decisions and outcomes. Part of reflecting is assessing what worked and what didn’t, essentially establishing the ‘bookend’ of your day. This will allow you to create a clean slate for maximizing your time and efforts the next day.

    Ask important questions and consider how your goals compare to the outcomes. Reflect on each relevant action that day and ensure they return to an intention. Understanding that not everything will go as planned, be prepared to pivot directions and evolve your goals as necessary. When this happens, it is always valuable to bookend with reflection as a means of reverting back to the necessary mindset.

    Practicing self-reflection is an ongoing task. However, in doing so, you will hone in on your strategic thinking skills, improve your levels of self-awareness and improve the quality of your relationships with investors and your team, all of which are invaluable. This is all to say: lead by example and frequently check in with yourself.

    Establishing your mindset and reflecting on performance are the bookends of productivity. Your ability to create efficiencies and execute on goals will set yourself, your team and your business up for success. While it takes time and effort, the work that really matters is mastering the techniques you are using to ensure each day is as productive as the last. Focus on the bookends, and the right decisions will come in between.

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    Mike Carpenter

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  • How to Create Decision Frameworks That Drive Business Growth | Entrepreneur

    How to Create Decision Frameworks That Drive Business Growth | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    No company can rely on a single person to make decisions. According to a study by McKinsey, managers at a typical Fortune 500 company waste more than 500,000 days a year on ineffective decision-making. The more diverse your team, the better their decisions, so it pays to empower all your team members to make decisions autonomously.

    As the CEO of an 8-figure technology company responsible for hitting the KPIs of our publicly traded parent company, I see firsthand the benefits of getting this right. Our unique approach to leadership has led directly to 7-figure annual growth year over year, even during a market downturn.

    From the start, my leadership philosophy is that no single person should be burdened with all the decision-making. This can create a bottleneck and limit what your team can accomplish. Instead, it’s vital to create frameworks for decision-making that empower each individual on the team to make consequential decisions while still being accountable to me as a leader.

    If you want to increase the efficiency of your teams, read on for my five-step process to take you out of the day-to-day and accelerate your business growth.

    Related: 4 Leadership Methods for Empowering Employees and Building Strong Teams

    Empowering your team

    The key to successful decision-making lies in trust. You need to empower your team members to make decisions while still giving them the guidance and authority they need to do so correctly.

    This means that you have to be clear about expectations from the start by setting up an environment where everyone is aligned around a common goal and vision for the company’s growth and development.

    One of our main strengths is that we are a small, flexible and agile organization. We have a startup culture where the structure needed to be established from the ground up, and establishing the foundational framework has helped to shape the organization. We don’t have too many layers of bureaucracy, so our team members are able to act on their decisions quickly and efficiently.

    Build a system to your company’s method for making decisions, such as “anything under $500 to fix, decide for yourself” or other types of guidelines. This demonstrates that you trust their ability to make decisions and bolsters the team’s trust to carry out their roles and responsibilities.

    Without some level of autonomy, decision-making can become bogged down and slow. And that’s the last thing you want regarding business growth.

    Compartmentalizing responsibility

    The great thing about creating frameworks for decision-making is that each team member has a defined role and responsibility. This makes it easier for them to make decisions without worrying about stepping on someone else’s toes.

    For example, each member of our sales development team is expected to work on their own initiative to identify potential leads, develop relationships and close deals. This allows everyone on the team to focus on what they do best and act quickly without having to check with me for approval every time. Plus, it also creates a sense of ownership among team members. Everyone feels like they have a stake in the success of the company and are doing their part to contribute.

    Establish a balanced combination of servant, situational and adaptive leadership to build your decision frameworks. The focus is on solving problems with innovation. For example, stay involved in the training process upfront for the team to activate around customer acquisition and sales, instead of taking a permanently directive “ivory tower” approach. Once they understand the structure and how you think, each member of the team can take their role and run with it. That way, you understand the intricacies of their day-to-day overall operations and understand every decision the team makes over the long term. This helps to bring everyone together and communicate clearly.

    Related: 6 Ways to Encourage Autonomy With Your Employees

    Reducing risk and setting boundaries

    Of course, that’s not to say you should throw caution to the wind and let your team run wild without oversight.

    On the contrary, setting boundaries and managing risk is essential when creating decision-making frameworks for your team. Outline a transparent chain of command so everyone has a sense of who is responsible for what and when. If something goes wrong, each team member knows who to turn to first and who will ultimately be held accountable.

    It’s essential that your staff know when they can act independently and when they need to refer a decision up the chain. This gives them a sense of freedom while also providing guidance and structure in their decision-making process.

    Setting boundaries for an autonomous team requires trust, effective communication and a commitment to a shared purpose. By providing guidance and structure while respecting their decision-making capabilities, you can create a team that excels while maintaining a healthy level of autonomy.

    I provide a clear understanding of the team’s overall goals and objectives. When team members know what KPIs they are working towards, they can make decisions that align with these goals. I also give team members access to relevant information, data and context that can aid in their decision-making process. This enables them to make well-informed choices within the defined boundaries.

    Building a culture of trust

    The greatest asset of any company is its people; creating an environment of trust is essential for successful decision-making. It starts with communication — keeping your team informed about updates and changes.

    Schedule regular daily, weekly or monthly check-ins with the team, formally and informally. This helps you keep abreast of any issues they might face and offer guidance when needed. Consider quarterly strategy meetings to evaluate the progress in relation to the KPIs and highlight any areas of improvement.

    Finally, celebrate successes and recognize individual contributions. People need to feel appreciated for their efforts in order to stay motivated. A culture of trust and respect will also encourage open dialogue, feedback and collaboration, which is essential for innovative decision-making.

    Related: 4 Ways to Guide Your Employees Toward Empowered Decisions

    Build a framework for your success

    The key to successful decision-making is a framework that lets your team make powerful decisions while still being accountable for them. Empowering each individual on your team by giving them clear expectations and autonomy is essential in creating an environment of trust.

    Ultimately, by creating transparent decision-making frameworks, you can foster an environment of collaboration and innovation that will drive your business growth and success for years to come.

    By setting clear expectations, compartmentalizing responsibility, building a culture of trust and managing risk through clear boundaries, you’ll be able to ensure that each team member is making the right decisions, on the right subjects, at the right time, to help your business excel.

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    Sebastian Huelck

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  • The Ridiculously Easy Guide to Internal Customer Service Training | Entrepreneur

    The Ridiculously Easy Guide to Internal Customer Service Training | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Are you gearing up to launch an internal customer service initiative? Well, you’ve come to the right place. I’m happy to equip you with insights that can catapult your initiative into success if you choose to do it on a DIY basis.

    Before we dive into the details, let’s take a breather and understand the similarities and differences between internal and external customer service. While their essence should be the same, their surface manifestations differ.

    Both types of customer service, at their heart, have the same goal: to create and sustain comfort, positive feelings, and, of course, results. However, there are a few notable places where the way you provide service should diverge.

    Related: 8 Initiatives to Make Your Customers Loyal Advocates

    Here are some differences between internal customer service and external customer service (when they’re done right):

    • Jargon and shared language: Every industry, as well as almost every company, has its own set of terminologies, a sort of coded language that outsiders (at least if they’re not also in your industry) might find hard to decipher. With your internal customers — your colleagues in different departments or your own — you can use this jargon and language shortcuts freely, confident in their understanding and without fear of alienating them with phrases, terms, and abbreviations that may be foreign to them.
    • Level of formality: With internal customers (colleagues), you are free to adopt a casual tone, skipping the formalities you would use with someone who is outside of your company. In fact, the formalities essential for external customers may be unnecessary (or even sound a little silly) when you’re interacting with colleagues.
    • Transparency with company information: This one is obvious. You must protect your company’s private matters when working with external customers. With an internal customer, such data may be essential, or at least helpful, in completing their work.
    • The amount of abuse you should be willing to take: Okay, this is a big one and not a very pleasant one to ponder. When working with an external customer, if they are rude, they may be a rude person all the time, or they may be “just” venting this one time and will return to being themselves the next time you encounter them. Either way, because external customers pay for our company’s success, you may need to put up with it. With an internal customer, if they behave badly, you may want to call them on it or even alert a superior, particularly if you have clear internal (company) behavioral guidelines. Of course, in some company cultures, this may be a career suicide move, so you should still proceed with caution.

    Related: 5 Shocking Customer Service Mistakes You’re Making Every Day (And How to Fix Them Right Now)

    Armed with this understanding, let’s dig into the bedrock principles of internal customer service. Here are eight essentials to build into your internal customer service training — and, if all goes well, your internal customer service culture.

    1. Every service interaction unfolds in three stages: the warm welcome, service or product delivery and fond farewell. Far too often, we ignore stages one and three and focus all our effort on the middle one, what we consider the actual work. But the pleasantries at the beginning and the end of any customer service interaction are key, considering how human memory emphasizes beginnings and endings in how it later reviews an event.
    2. Mental reframing can be a game-changer. Start viewing tasks in your inbox as requests from valued customers instead of just “those folks in the other department.” — You’ll observe a boost in your own efficiency and enthusiasm.
    3. As with external customers, internal customers desire recognition. They want their colleagues to see them, not just think of someone who fills up their inbox.
    4. Address both the spoken and unspoken needs and desires of your co-workers. When they communicate with you, listen for the undertones that can give you clues to their emotional (and practical) desires, even if they’ve never verbalized them to you.
    5. Emphasize the principle of lateral service: stepping out of your comfort zone to help colleagues during staff shortages. This fosters a more resilient company culture.
    6. Respect should be a given. Bullying, regardless of its source, should be nipped in the bud. (Whether this is realistic depends on your company culture, level within your company, and other internal factors.)
    7. Consideration (kindness, really) should be at the base of everything we do.
    8. Language is potent. Steer clear of phrases that belittle or devalue your colleagues (“Like I told you previously,” “You’re not my only priority, you know,” and so forth.) And remember, “please” and “thank you” pack a positive, if quiet, punch. Use them liberally.

    Related: 4 Investments Brands Should Make to Upgrade Their Customer Service

    What format should be used for internal customer service training?

    When it comes to internal customer service training, there are a few formats to consider. One option is customer service eLearning-based training, which offers the advantage of being asynchronous (can be used at any time and at any pace) and long-lasting (has value in the future as well as present). With eLearning, employees can access the training material at their own pace regardless of their shift or schedule, and it can be used by future employees and as a central part of your future onboarding process.

    Live customer service training is another effective route to take, whether conducted in person or through remote video. This allows for real-time interaction and immediate feedback. To enhance the effectiveness of live training, it can be beneficial to supplement it with physical collateral, such as handouts or reference materials. These aids can help reinforce the essential points and ensure that everyone is on the same page — literally!

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    Micah Solomon

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  • The Future Is Not Just Flexible — It’s United. How American Flexibility is Redefining Business Practices Worldwide. | Entrepreneur

    The Future Is Not Just Flexible — It’s United. How American Flexibility is Redefining Business Practices Worldwide. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In the bustling marketplace of global business, American practices shine as a lighthouse of innovation, adaptability and advancement. Renowned for being the most advanced, they have been exported and embraced across continents. A recent survey conducted by the INSEAD Emerging Markets Institute and Universum provides a tapestry of insights into how American flexibility is redefining business practices worldwide. Similar information comes from a survey published in the Harvard Business Review, called the Survey of Business Uncertainty and jointly run by the Atlanta Federal Reserve Bank, the University of Chicago, and Stanford, which surveys senior executives at roughly 500 U.S. businesses across industries and regions each month.

    Related: Is The Future of Work Flexible — Or Not? Governments Are Making Moves to End The Debate Once and For All.

    Flexibility and return to the office

    America’s approach to flexibility is not just an operational strategy; it’s a cultural ethos. The U.S., known for its innovative spirit, has long been a pioneer in adapting to new work landscapes. With the INSEAD survey finding that 50% of U.S. respondents rated remote productivity as 5/5, the embrace of flexible work arrangements has become a defining characteristic of American business. This isn’t a fleeting trend but a foundational shift that has resonated across the globe.

    In the APAC region, the longing for physical office spaces is like an ode to community and hierarchy. Indeed, peer-reviewed research published in Knowledge and Process Management shows that Asian collectivism impedes remote work. But even here, America’s flexible approach is making inroads, creating a hybrid model that balances traditional values with modern efficiency.

    Europe finds itself at a crossroads, aligning with both traditional office culture and the new frontier of remote work. It’s a dance between the old and the new, with the American influence acting as the choreographer, creating a harmonious blend.

    The low levels of return to office in the U.S. are not just a response to current circumstances; they are a blueprint for a new way of working. This success story has become an export, a lesson plan for businesses around the world looking to adapt, innovate and thrive.

    From boardrooms in Sydney to startup hubs in Berlin, the ripples of American flexibility are being felt. The influence goes beyond mere imitation. The perceived ideal mix of days working at home versus in the office reveals a global conversation shaped by American influence. APAC, EMEA, and the Americas are crafting unique blends, reflecting regional needs and global trends. America’s leading role in this conversation is evident, setting the stage for a future where flexibility is the norm, not the exception.

    Indeed, the Harvard Business Review article points out that American business practices are recognized widely as the best around the world, which paves the way for broader adoption of remote work worldwide. The most recent iteration of the survey, conducted in July 2023, asks, “Looking forward to five years from now, what share of your firm’s full-time employees do you expect to be in each category [fully in-person, hybrid, fully remote] in 2028?” The current share of in-person, hybrid, and remote workers is 75%, 14%, and 10%. In 2028, the 500 executives expect the share of in-person, hybrid, and remote workers to be 73%, 16%, and 11%. So, despite the extensive headlines about returning to the office after Labor Day, the reality is that the future will see more flexible work in the U.S., not less. And if the future is more flexible work in the U.S., it means the future is more flexible work globally as well.

    Remote productivity — the American blueprint

    In the Americas, 50% of respondents rated remote productivity as 5/5, a statistic that speaks volumes about the confidence and competence with which American businesses have adopted this new paradigm. This success story isn’t confined within national borders; it’s a lesson being studied and applied worldwide.

    American businesses have bridged the physical gap with technology and innovation. From cutting-edge collaboration tools to advanced cybersecurity measures, the technological prowess of American companies has enabled a seamless transition to remote work. This technological blueprint is now being exported, guiding global businesses in building their virtual bridges.

    Regions like APAC and EMEA have their unique cultural contexts, but the American model of remote productivity is influencing these landscapes. The lessons learned from America’s success are helping these regions navigate the challenges and opportunities of remote work.

    The lower concerns about productivity in the Americas (11%) compared to APAC or EMEA (both 22%) aren’t just numbers; they’re a reflection of a well-crafted approach that balances efficiency and wellbeing. American businesses have not only maintained productivity but have enhanced it, creating an environment where employees thrive. This balanced approach is a model for global businesses seeking to create a productive and healthy remote work culture.

    American businesses have shown remarkable agility in adapting to the remote work environment. This agility is not reactive but proactive, driven by a vision of a future where work is not confined to physical spaces. The adaptability of American businesses is a guiding star for global companies seeking to be future-ready. That’s what I observe in my 5-10 conversations with global leaders every week who are trying to figure out how to adapt the best practices in the U.S. for hybrid work to their own contexts so as to boost productivity while improving retention and cutting costs.

    The human aspect — beyond technology

    Happy employees make thriving businesses. The Americas, with their flexible approach, score high on engagement (3.6/5), while EMEA and APAC lag (both 3.2/5). It’s a dance of satisfaction, where the rhythm of flexibility creates a joyous performance.

    High employee engagement in the Americas is more than a metric; it’s a philosophy. It reflects a commitment to creating a work culture where employees feel valued, connected, and empowered.

    The embrace of remote work in the United States is not merely a technological triumph; it’s a human achievement. It’s about creating virtual spaces that foster connection, collaboration, and community. It’s a holistic approach that recognizes that business is not just about transactions but about relationships.

    In the American business landscape, emotional intelligence is no longer a soft skill; it’s a vital asset. Leaders are learning to navigate virtual spaces with empathy, understanding, and compassion. They are not just managing tasks but nurturing teams, building trust in an environment where face-to-face interactions are limited.

    American businesses have recognized that remote work, while offering flexibility, also presents challenges to mental wellbeing. Initiatives focusing on mental health, work-life balance, and employee wellness are not just trends; they’re integral to the American approach to remote work. They reflect a deep understanding that productivity and wellbeing are intertwined.

    American companies are pioneering ways to build virtual communities that transcend the screen. From virtual coffee breaks to online team-building activities, they are crafting experiences that replicate the camaraderie and collaboration of physical offices. These practices are lessons for the world on how to turn virtual spaces into vibrant communities.

    Recognition and rewards are taking new forms in the virtual world. American businesses are innovating in celebrating successes, acknowledging efforts, and fostering a culture of appreciation. These practices are inspiring global businesses to reinvent their recognition strategies in a remote work environment.

    The concern about missing social connections is not unique to the Americas (78%), but the way American businesses are addressing this concern is noteworthy. They are not just connecting employees; they are reconnecting humanity in a virtual world.

    Mentorship and collaboration have found new expressions in the American virtual workspace. Mentorship is no longer confined to office corridors but extends across digital platforms. Collaboration is not just about projects but about shared learning, growth, and innovation.

    American businesses are leveraging remote work to foster diversity and inclusion. Remote work is not just breaking down office walls; it’s breaking down barriers and creating a global family that celebrates diversity, inclusivity and unity.

    Related: Our Brains Will Never Be The Same Again After Remote Work. Forcing Your Employees To Readapt to The Office Is Not The Answer.

    Conclusion: The dawning of a shared era

    The tale of American flexibility is not a chapter in a national story; it’s a volume in the annals of global business. Renowned for being the most advanced, American practices are not merely setting standards; they are weaving a narrative of shared growth, mutual respect and universal adaptability.

    As businesses across the globe learn from America’s wisdom, they too will evolve, becoming more flexible, more connected, more human. This shared journey towards a brighter, more resilient future is not mere imitation; it’s evolution, it’s collaboration, it’s the dawn of a new era.

    This snapshot, rich and insightful, is a window into a world that’s continually transforming, guided by the pioneering spirit of America’s expertise and vision. The world is on the brink of a new age, and America’s advanced practices are the compass, the guide, the inspiration.

    The future is not just flexible; it’s united, it’s promising, and it begins here. Let us not just observe this transformation but be part of it, guided by wisdom, enriched by diversity, and united by a common goal. The curtain is rising, the world is watching, and the show is only just beginning.

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    Gleb Tsipursky

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  • Zack Oates of Ovation on Building Business Connections through Digital Storytelling | Entrepreneur

    Zack Oates of Ovation on Building Business Connections through Digital Storytelling | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Soliciting feedback from customers often seems like a daunting task. However, Zack Oates and his team at Ovation have cracked the code with a proven strategy that not only encourages guest feedback, but also establishes a personal connection for exceptional results.

    Zack Oates and the guest feedback platform Ovation have taken a radically different approach to hearing from customers, which stems from their recognition of a critical flaw in the conventional methods: It’s too hard to share feedback.

    As the CEO/founder puts it to host Shawn P. Walchef of Cali BBQ Media when meeting up at the National Restaurant Association Show: “Because the solutions are so bad, guests don’t give feedback. You miss out on over 99% of your guests’ feedback because you make it too hard to give that feedback.”

    The Ovation solution? A two-question survey, delivered via text message, that practically engages customers immediately. Think of it like a digital “table touch”

    Ovation not only makes it much easier for restaurant guests to give helpful feedback and reviews, but also establishes a personal connection that yields exceptional results.

    The simplicity, along with incentives like a chance to win a $100 gift card, encourages participation.

    This accessible and innovative approach, coupled with Ovation’s integration with various platforms like the Toast POS, has opened up valuable channels for direct engagement. Oates emphasizes that their strategy not only garners feedback but also nurtures customer relationships, which is vital to Ovation’s success.

    A human touch working in harmony with technology remains the key to unlocking true customer loyalty, Oates says. Though he recognizes the convenience of technology, he stands firm in the idea that consistency lays the foundation, and that the pinnacle of loyalty is achieved through genuine connection.

    “At the end of the day, regardless of how much technology is in between you and I, it’s about that human connection.” says Zack Oates.

    This approach creates a deep connection and enhances personalized engagement, which not only drives loyalty, but also drives revenue by drastically reducing Ovation cancellation.

    “Nobody cancels Ovation.” the CEO proudly proclaims.

    Oates acknowledges that his strengths lie in building genuine relationships through real digital storytelling rather than orchestrating investor hype. Instead of pursuing a multitude of investors, Ovation seeks the best investors for them. Those are people who share a vision and values and echo the same principle that underlines the Ovation approach to customer relationships.

    “I’m not great at pitting one investor against the other and getting the valuation up,” admits Oates. “The way that I look at it is when you’re able to tell your story, then you’re able to connect to that person.”

    In a landscape often dominated by complex strategies and high-pressure plays, Ovation stands as a testament to the strength of simple connection and authenticity.

    By creating an environment where customers are empowered to share their thoughts and are met with genuine interest, Ovation has not only found the elixir for consistent feedback, but has also unlocked the key to customer loyalty.

    Through their approach, Ovation has shown that technology is necessary, but it’s the human connections that truly make a lasting impact.

    ***

    ABOUT RESTAURANT INFLUENCERS:

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

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    Shawn P. Walchef

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  • The Number One Thing That Holds Entrepreneurs Back | Entrepreneur

    The Number One Thing That Holds Entrepreneurs Back | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    On this episode of The Jeff Fenster Show, host Jeff Fenster speaks with entrepreneur, salesperson, and motivational speaker David Meltzer. With a remarkable journey that began with humble beginnings, Meltzer shares his insights and experiences, offering valuable lessons for aspiring entrepreneurs.

    From Rags to Riches: A Desire for Success

    David Meltzer’s journey began with a burning desire for wealth, despite his challenging upbringing. His determination and entrepreneurial spirit propelled him forward, leading to various successful ventures. Meltzer’s credibility lies in his extensive experience as a successful entrepreneur and his role as the CEO of Sports 1 Marketing. Meltzer states, “I always had this desire to be rich, and I knew that money would buy me the freedom and the things that I wanted in my life.”

    Related: Discover more great Entrepreneur Podcast Network shows

    Understanding the Business Aspect Is Key to Success

    Throughout his career, Meltzer emphasized the importance of understanding the business aspect of any venture. His credibility stems from his diverse experiences, including selling legal research online and running Samsung’s phone division. Meltzer explains, “I learned that the key to success in any business is understanding the business of that business.”

    The Power of Core Values: Creating Desired Outcomes

    Meltzer firmly believes in the power of core values and how they can shape one’s journey to success. His credibility lies in his role as a motivational speaker and his work with Lee Steinberg’s sports agency. Meltzer shares, “Core values are the foundation of creating the outcomes that we desire in our lives.”

    The Importance of Gratitude: A Path to Success

    Meltzer highlights the significance of gratitude in achieving success. His credibility is established through his own experiences and his role as a motivational speaker. Meltzer states, “Gratitude is the most powerful emotion that we have. It allows us to find the light, the love, and the lessons in everything.”

    Trusting the Universe and Helping Others

    Meltzer emphasizes the importance of trusting the universe and helping others along the way. His credibility stems from his successful career and his dedication to philanthropy. Meltzer explains, “When you trust the universe and you help as many people as you can, you’ll be amazed at what comes back to you.”

    Prioritizing Health and Wellbeing for Success

    Meltzer recognizes the significance of prioritizing one’s health and well-being in order to achieve success. His credibility lies in his own journey and his commitment to personal growth. Meltzer shares, “If you don’t take care of your health, you won’t have the energy, the focus, or the clarity to achieve the success that you desire.”

    Grabbing Inspiration

    David Meltzer’s journey from a desire for wealth to achieving great success is an inspiration to aspiring entrepreneurs. His insights on understanding the business aspect, the power of core values, gratitude, trusting the universe, and prioritizing health and well-being provide valuable lessons for anyone on the path to success. With his credibility as a successful entrepreneur and motivational speaker, Meltzer’s wisdom serves as a guiding light for those seeking to create their own success stories.

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

    About The Jeff Fenster Show

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

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    Jeff Fenster

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  • How to Turn Every Adversity You Face into an Advantage | Entrepreneur

    How to Turn Every Adversity You Face into an Advantage | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Entrepreneurship is a wild ride, right? I would know. I’ve ridden that rollercoaster through storms and smooth stretches. But every time life threw a curveball, I stepped up to bat.

    I still remember when one of our key developers had to leave our company for personal reasons right before we launched a massive update — it was scary. I learned to rely on multiple people to do a given task.

    Life can flip from incredible to terrifying before you can say “entrepreneur.” I still remember when COVID-19 started. My company went from getting high-fives from industry titans to realizing our users couldn’t even step outside, let alone upload content.

    So, join me on the journey where I turn setbacks into my secret weapons.

    Related: 10 Growth Strategies Every Business Owner Should Know

    Embracing the crazy swings of life

    Here’s the thing about entrepreneurship: It’s like diving into an ocean of challenges. When I jumped into this sea of business, obstacles seemed like roadblocks. But guess what? They were stepping stones, leading me to growth and wisdom. It’s like when you learned to ride a bike without the training wheels — scary but exhilarating.

    Big-company solutions often don’t apply to us entrepreneurs. “Never rely on just one person to do a given task” would seem like an obvious lesson an industry titan might give you. Well, guess what? We small business owners often don’t have the luxury of having multiple employees with the same skill sets.

    So what do we do? We get creative. Seek solutions in places you might have never considered. Websites like Fiverr, Upwork and Flexjobs often offer temporary freelance solutions to get you through the day.

    Get comfortable with being uncomfortable because that is what being an entrepreneur is about.

    Related: Creativity, Innovation, And Leadership: The Elements of Transformation

    Why cultural roots are a different kind of power tool

    In Mexico, we’ve got this saying: some of the best engineers don’t need fancy degrees. They just rocked their resourcefulness like pros, using whatever tools they had. As a Mexican entrepreneur, that gritty mindset is my secret sauce. It’s like taking lemons and making the best orange juice you’ve ever tasted. Like, how’d that happen? We got creative.

    When adversity knocks, I knock back. Drawing from my heritage, I tap into the spirit of innovation that’s the heart of the Mexican entrepreneurial scene. It’s like when your grandma used her secret recipe to turn a regular meal into a feast. Our cultural foundation is like rocket fuel, powering us through the roughest storms.

    Related: 6 Obstacles to Creative Thinking and How to Overcome Them

    Turning challenges into allies: My game changer

    Every entrepreneur’s journey is filled with “uh-oh” moments that, with a little twist, become “Aha!” sparks. When my company, Replay Listings, got the side-eye, I flipped it into an invite for collaboration. I turned feedback into business gold, forging partnerships that set the stage for victory.

    For example, given that my business is focused on real estate video tours, I started calling real estate agents who have leveraged our technology and invited them for a cup of coffee or even lunch. During that time, getting to know my user base, their needs and their experiences while using our mobile app was really nice. In fact, many of Replay Listings’ in-app features were built because they asked us to! Who would have known? Listening to your users is helpful and essential when learning your businesses’ areas of opportunity.

    Pay close attention to your users’ needs, and you’ll see more clearly your path ahead.

    Innovation through tough times

    Picture this: a partnership I’d banked on suddenly vanished into thin air. One minute, we were chatting, and the next? Poof! They pulled a vanishing act. Now, instead of moping, I spun it around. I diversified my partnerships to ensure my venture’s future wasn’t hanging by a thread.

    Life’s got a funny way of switching things up. Hard times can be your secret ingredient to success.

    As I’ve mentioned before, It is obvious that not relying on a single employee to do a specific task is advised, but diversifying talent does not need to come at an extra expense. It often needs to take the shape of more partnerships, collaborations, or allies within the industry.

    Allocate some of your time to making allies — it’ll help you in the long run.

    Finding gold in the rough

    As we sail through this entrepreneur sea, remember that every crash can be turned into a smooth wave. Just like I’ve learned from my Mexican roots and my own ups and downs, the trick is to tackle challenges like they’re stepping stones.

    As I navigate the tumultuous waters of entrepreneurship, I realize that the wild ride is not just about braving storms and smooth stretches. It’s about harnessing every twist, turn and curveball to my advantage. Entrepreneurship isn’t just about building a business; it’s about building character and resilience.

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    Rodolfo Delgado

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  • 3 Principles for Scaling Content With AI Without Sacrificing Quality | Entrepreneur

    3 Principles for Scaling Content With AI Without Sacrificing Quality | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As a web publisher, I’ve always focused on scaling content production. During 2022, we published a high volume of new articles across our websites — upwards of a thousand new items in a typical month. We employed a team of more than 100 writers and editors to accomplish this gargantuan task. Fast-forward to the middle of 2023, and we now achieve the same publication numbers but with a team of only ten content creators.

    We do this through harnessing the power of AI. We were early adopters of fully transitioning to AI-assisted content. And we did that without lowering our editorial standards.

    Scaling your content strategy is always challenging. Even without considering AI, there’s always been a tightrope between quantity and quality. Tip the balance, and you either can’t keep up with demand or lose the trust of your audience. Bringing AI into the equation meant we could speed up production significantly.

    But what about the quality? Our main challenge was to create workflows and processes that would allow us to scale AI-assisted content production while maintaining the same quality as before. To achieve this delicate balance of quantity and quality while using AI, we created a new system based on three key principles.

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

    Principle 1: Human-AI collaboration

    You may have noticed that I mentioned neither writers nor editors when describing our current team. We no longer use those terms in our team. Instead, we now call the people who create our content “AI Wranglers.” These people are not writers; they’re AI-human collaboration experts. Using prompting strategies and AI tools, our content creators can develop a first draft quickly and then work on improving on that.

    Depending on the type of article, our content creators may use a writing tool or work directly with an AI such as ChatGPT. When using ChatGPT directly, they follow a structured creation process that includes prompts that:

    1. Start by asking the AI to give an overview of the topic. The content creator may need to provide some background context if the AI needs help getting up to speed.

    2. Give the AI clear instructions on the tone and style, such as “aim for a conversational tone and keep the writing at eighth-grade level.”

    3. Have the AI suggest an outline it thinks would work best.

    4. Then, go section by section, collaborating with the AI to put together the full draft.

    The structured prompting helps our content creators speed up the process and quickly develop a first draft.

    Related: Here’s How Your Business Can Use 3 Popular AI Content Creation Tools

    Principle 2: Quality enhancement processes

    Some websites publish what is known in our industry as “one-click content.” As the name implies, these articles are created using AI-based tools to generate an article in a single iteration. These articles are typically published immediately with no additional steps.

    There’s no denying that one-click AI content allows for extremely fast content production scaling. Moreover, this type of content goes way beyond the old-school “content spinners.” In many cases, today’s AI content tools — especially those employing the GPT-4 API — create coherent and sometimes even insightful content. And, of course, this hands-off approach significantly lowers the production cost.

    However, our experience has shown us that relying on one-click content often leads to subpar articles in more ways than one. While the AI can produce amazing output, that content still needs to be refined by capable humans. It’s the only way to reliably and consistently produce results that meet our publication standards. That’s why the AI is only used to develop a first draft. The AI gives us a head start, but our human content creators take the content to the finish line.

    Our quality enhancement process includes three layers: Fact-checking, reducing fluff and adjusting the article to make sure it aligns with the reader’s needs.

    Verifying that the generated article does indeed “deliver the goods” is the content creator’s first concern. They ensure the topic is fully covered and that the reader’s questions have been answered in full.

    Fact-checking is another pillar of our process. While constantly improving, AI systems can still occasionally produce inaccurate information. Our content creators thoroughly fact-check the article to make sure numbers, dates, locations, names and any other factual information is valid. They also link back to authoritative sources to reference important facts.

    Last but not least, the content creators improve the writing style. They often clean up redundant words, sentences and even entire paragraphs to ensure the article is succinct and, therefore, more helpful.

    In a way, you could say that our content creators are editors who specialize in working with a highly prolific writer. That writer may be silicone-based, but it certainly is not without flaws. Competent editors are needed in order to take this writer’s work to the next level.

    Related: How to Enhance Business Automation and Unlock New Levels of Operational Efficiency

    Principle 3: Reducing production time

    Before AI, a single article would take about five hours to write. Now, with a robust first draft in place, it takes our trained content specialists between one and two hours to generate the finished text. And while our process is more costly than producing one-click AI content, we don’t sacrifice quality.

    This AI-assisted approach allowed us to maintain high output and quality while reducing costs. Furthermore, we keep looking for ways to improve our initial prompts and the quality enhancement process. Through this continuous improvement, we can further reduce the cost per article and scale production even more.

    When you save time and maintain quality, it’s a win-win for everyone. Your team, business and, most importantly, readers benefit. With the right strategies, content creators can leverage AI to enhance rather than replace human creativity and judgment.

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    Anat El Hashahar (Anne Moss)

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  • Why Empathy is Crucial to Your Success in the Business World | Entrepreneur

    Why Empathy is Crucial to Your Success in the Business World | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Empathy is the transformative force in business and life that allows leaders and managers to empower those around them. Beyond numbers and profits, understanding and connecting with others on an emotional level is a hallmark of exceptional leadership. This article delves into the power of empathy in the business arena — spotlighting its impact on leaders, teams and the legacy we all leave behind.

    The essence of empathy in leadership

    Empathy in leadership goes beyond just a soft skill; it’s a strategic imperative. As a manager, your interactions shape the team’s culture and morale. By understanding your employees’ feelings, needs, and perspectives, you forge connections that are the bedrock of trust and collaboration.

    Empathy is the cornerstone of a positive work environment. When leaders genuinely care about their team members’ well-being, it creates a culture of camaraderie. Employees feel valued and appreciated, resulting in increased job satisfaction, higher morale and reduced turnover. By acknowledging individual strengths and challenges, leaders can tailor their approach, empowering employees to thrive and contribute their best.

    Related: 3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One

    Effective communication and conflict resolution

    Empathy is a game-changer in communication. Leaders who listen actively and understand their team’s concerns can communicate clearly and tactfully. When conflicts arise, an empathetic approach promotes open dialogue, allowing conflict to be resolved constructively. This prevents issues from festering and maintains a harmonious work atmosphere.

    Related: 8 Great Tricks for Reading People’s Body Language

    Empathy and employee engagement

    Employee engagement is vital for productivity and innovation. Empathetic leaders foster engagement by recognizing employees as whole individuals with specific aspirations and needs. This recognition boosts motivation and encourages employees to invest their energy and creativity in their roles. Engaged teams are likelier to go the extra mile, driving overall performance and organizational success.

    Building trust and loyalty

    Trust is the currency of effective leadership. Empathy is the linchpin of trust-building, demonstrating that leaders genuinely care about their team’s success and well-being. Employees who perceive their leaders as empathetic are likelier to be loyal and dedicated. This loyalty translates to increased effort, reduced absenteeism, and a willingness to weather challenges together.

    Related: Why Do Your Customers Really Buy from You?

    Empathy in decision-making

    Empathy informs strategic decision-making. Leaders who understand the impact of their decisions on employees consider not only the bottom line but also the human aspect. This leads to conclusions that balance short-term gains with long-term sustainability. By incorporating empathy, leaders build a culture where decisions are ethical, considerate, and aligned with the organization’s values.

    Empathy’s ripple effect

    Empathy is contagious. When leaders embody compassion, their teams often emulate this behavior. This ripple effect extends to customer and client interactions, creating authentic connections that enhance customer loyalty and satisfaction. A company culture rooted in empathy can differentiate the organization in a competitive marketplace.

    Related: Why Empathetic Leadership Is More Important Than Ever

    Strategies for strengthening empathy

    Developing empathy requires active effort. We can start by actively listening to others without judgment, acknowledging their emotions, and trying to understand their perspective. We cultivate a culture where people feel seen, heard, and valued.

    1. Active listening: When someone speaks, truly listen without interrupting. Let their words unfold without immediately forming your response. This allows you to absorb the depth of what they’re sharing. Show you’re engaged through non-verbal cues like nodding or maintaining eye contact, indicating that you value their perspective and emotions.
    2. Walk in their shoes: Take a moment to imagine what it’s like to be in their situation. Consider the challenges they might be facing and the emotions they’re likely experiencing. This mental exercise helps you better understand their point of view and fosters a deeper connection.
    3. Open-ended questions: Encourage them to share more by asking open-ended questions. Instead of yes-or-no inquiries, ask questions that require thoughtful responses. This invites them to express themselves fully, helping you gain insights into their feelings and thoughts that you might not have uncovered otherwise.
    4. Set aside biases: Recognize your biases and preconceptions and consciously set them aside during the conversation. Approach the interaction with an open mind, allowing their emotions and perspective to take center stage. By letting go of judgments, you create a safe space for them to express themselves authentically.
    5. Engage in service: Engaging in acts of kindness or volunteering exposes you to diverse experiences and backgrounds. This exposure broadens your understanding of the challenges people face and the emotions they navigate. Being part of a more significant community effort allows you to connect with individuals whose stories may differ from yours.

    Empathy emerges as a fundamental trait that elevates leaders beyond managerial roles. As a leader, nurturing compassion creates a positive work environment, boosts engagement, fosters effective communication, and builds trust. It’s a catalyst that transforms workplaces into thriving ecosystems where individuals feel valued and empowered. By recognizing the transformative power of empathy, leaders shape organizations that achieve financial success and leave a lasting, positive impact on their employees and the world at large.

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    Ryan McGrath

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  • Why You Should Keep Posting On Social Even If Viewership Is Low | Entrepreneur

    Why You Should Keep Posting On Social Even If Viewership Is Low | Entrepreneur

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    Q: People tell me to post regularly on LinkedIn, but nobody’s reading. Should I just quit? — Derek, Austin

    This article could flop. You might not even get past the first paragraph. That’s just a fact of life for anyone who writes anything. But it’s not a reason to stop.

    Let’s start with some assumptions. You’re probably not a professional creator. Maybe you’re posting to grow your brand and revenue. At this point, you’re a little embarrassed by how poorly you’re doing, looking at the opportunity cost of it, and thinking that your time is better spent elsewhere.

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    Terry Rice

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