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Tag: Growth Strategies

  • How to Cultivate Emotional and Authentic Distinction for Your Brand | Entrepreneur

    How to Cultivate Emotional and Authentic Distinction for Your Brand | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In this hyper-connected world, we’re struggling to capture the attention of those we hope will buy from us and eventually become loyal customers. The deluge of social media platforms and AI tools has created an overwhelming tidal wave, drowning us in a sea of tweets, likes and algorithms.

    As we’re all trying to figure out how to gain traction, it becomes increasingly more difficult to navigate and find the right formula. With that said, and pardon the metaphor, my question to you is this – What’s the lighthouse that can guide your brand through this chaotic digital fog?

    You might think it’s the latest tech gimmick or a viral campaign, but you’d be missing the mark. The true beacon of distinction in this noisy world is far more enduring — a brand distinction achieved through emotional branding and exceptional customer service.

    Related: If You’re Not Approaching Your Brand This Way, You’re Losing Customers

    What is brand distinction?

    Brand distinction is not just a fancy logo, a catchy jingle or a viral hashtag; it is the unique identity that sets you apart in a crowded marketplace. It’s that intangible quality that makes customers say, “I want what they’re offering, and nobody else will do.”

    Think of it as your brand’s fingerprint — no one else has it. And the fact is, brand distinction can’t be bought; it’s earned. It’s the sum total of every interaction, every smile, every problem solved and every promise kept. It’s what turns heads, wins hearts, and, most importantly, keeps people coming back for more.

    The emotional quotient

    In every keynote and training session I deliver, I hammer home a single crucial point: None of the strategies or tactics you’ve learned will matter unless you forge an emotional connection in your messaging and interactions with customers. This is the essence of emotional branding.

    Drawing from two decades at the helm of a national advertising agency, I’ve seen firsthand that mere awareness isn’t enough to build a lasting brand. We crafted campaigns that emotionally resonated with target audiences, but too many clients stopped there. They poured money into ads that drove customers into a lackluster service experience. They mistook advertising as the be-all and end-all, overlooking the cornerstone of true brand distinction — the customer experience.

    Here’s the real deal: if your advertising hits the emotional sweet spot and is backed by an equally impactful customer experience, you will connect on such a personal and emotional level that you’ll elicit a visceral reaction whenever someone hears or sees your brand. This emotional connection isn’t just one facet of your brand — it is your brand.

    Related: How to Build a Brand Story That Buyers Emotionally Connect With

    The Nike phenomenon: A case study in emotional branding and product excellence

    Let’s pivot to Nike — a brand more than a global athletic powerhouse. When you lace up those Nike shoes, you’re not simply prepping for a workout; you’re embracing a lifestyle and joining a community that believes in the transformative power of sports. Nike’s mantra, “Just Do It,” isn’t just a tagline — it’s a rallying cry that speaks to our deepest aspirations and desires.

    Nike has mastered the art of emotional branding. They don’t just sell you athletic gear; they sell you a dream, a better version of yourself. It’s this emotional resonance that turns casual buyers into loyal fans.

    But let’s be clear: emotional impact isn’t enough. What really sets Nike apart is their commitment to product excellence. All the aspirational messaging worldwide wouldn’t matter if their products didn’t deliver. Nike’s real genius lies in its ability to perfectly align its emotionally charged branding with products that meet expectations.

    Do you think emotional branding only happens with brick-and-mortar? Think Zappos

    If you think extraordinary customer service is confined to brick-and-mortar shops, think again. Meet Zappos — an online retailer that’s rewritten the rulebook on how to win hearts in the digital space. Sure, they sell shoes and clothes, but what they’re really in the business of is making people happy.

    Ever heard of their 365-day return policy? Or what about their legendary customer service calls that can last for hours, not because there’s a problem to fix but because their reps are empowered to connect with customers genuinely? It’s not uncommon for Zappos to send flowers to a customer who mentioned they were having a bad day or even assist in searching for a product they don’t carry.

    This over-the-top commitment to customer happiness has turned Zappos into more than a retail brand. It’s become a symbol of what’s possible when a company makes customer service its prime directive. The result? A brand distinction that competitors can admire but find incredibly hard to replicate.

    Why most businesses miss the mark

    We all get dazzled by the latest tech trends. Who wouldn’t? But while we’re busy chasing the newest shiny object, we’re missing out on the golden ticket that’s right under our noses – brand distinction through uncommon and emotional customer experiences!

    This isn’t just a department in your company; it’s the soul of your brand. Remember, people don’t just buy products or services; they buy experiences and emotions. Whether it’s the comfort of belonging, the excitement from the unexpected service, or the peace of mind from a problem solved, what you’re really selling is a feeling. This emotional connection isn’t a ‘nice-to-have’; it’s a ‘must-have.’ It’s what turns casual buyers into brand evangelists who stick around and become the best advertisers you never had to pay for. Simply put, emotional branding is the linchpin that holds the whole concept of brand distinction together. Without it, you’re just another name in the crowd.

    Crafting authenticity and building trust

    You can have all the AI chatbots and social media influencers in the world, but nothing compares to a genuine smile, a caring attitude or a prompt, thoughtful response. The human touch turns a one-time buyer into a life-long customer and a raving evangelist for your brand. So, don’t underestimate the power of creating an emotional connection.

    Customers can smell insincerity a mile away. Authenticity isn’t just a buzzword — it’s your currency. Empathy, genuine care and a robust sense of community support your brand. That’s how you turn a casual encounter into a meaningful relationship. Trust is earned, not given, and it starts with each customer interaction.

    Let’s not kid ourselves — the digital age is a double-edged sword. But one thing remains unchanged: your brand’s most potent weapon is how you make people feel. Harness the unparalleled power of brand distinction, and you’ll stand out and stand alone and stand the test of time.

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    Scott Deming

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  • How To Grow Your Startup With Rapid Experimentation | Entrepreneur

    How To Grow Your Startup With Rapid Experimentation | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Many concepts get pounded into us from well before we’re entrepreneur cubs. One example is: “Money doesn’t grow on trees, so be careful with it.”

    Later in life, we learn about the wonders of leverage. In business school or elsewhere, we’re introduced to the seductive benefits of bringing on lenders and private equity partners to accelerate our dreams.

    If we need to be careful with our own money, we learn that we better be doubly careful with others’ money. We’re continuously answerable to them, and they can sink our business.

    When building Warrior Trading, I instead chose the self-funded route. I had been subject to anxiety attacks since I was young, and the last thing I needed was to skyrocket my anxiety by worrying about investors.

    There are two sides to having investors: their money does offer the potential to grow faster. But it also creates drag. Startups funded by investors can find it difficult to pivot and change course when needed. To me, self-funding has equaled freedom. Working within the constraints of my limited funds gave way to resourcefulness, creativity and innovation.

    Related: How Entrepreneurial Creativity Leads to Innovation

    Creating a culture of rapid experimentation

    In my startup, I created an engine of rapid experimentation to find products that matched demand in the active trading community. I had to be smart about where I invested my time and money, but I knew that quick experiments and quick decisions could lead to quick progress.

    The SaaS world has the concept of a minimum viable product. That implies a deliverable, an “alpha” or “beta” test that’s at least semi-packaged for others’ consumption. I take the concept further: When I start to develop a product, I want to see the most primitive product that performs at least one new function. You might call it “most primitive improvement.”

    I’ll caution that rapid prototyping is not for everyone. You need a team accustomed to bootstrapping and thrives under that pressure. Of course, there is no other option for the self-funded startup. So, it comes down to assembling the right team for your company.

    Related: What I Wish I Knew Before Bootstrapping My Startup

    How rapid experimentation gives way to product iteration

    My team engages with developing new products by testing a thesis. We have a belief based on consumer behavior and looking at the marketplace that there is demand for a specific product. We begin the development of that product, but instead of keeping it hidden until it’s perfect, we put customers into beta testing as soon as it meets the standard of “most primitive improvement”.

    Here’s something really interesting. Every single time we’ve done this, we get feedback from beta testers that we didn’t expect. Whether it’s a common request for a feature we overlooked or an element we thought would be highly valued but is not being utilized at all, we can quickly take this feedback and roll it into the next release.

    I find this process especially exciting. One might even say, thrilling.

    The final product will often look and feel much different from our initial mockup, but that’s a good thing. We will have created a product that is an exact match for our target customer.

    Throughout my years in the investing space, I’ve seen companies backed by investors spend incredible sums of money building platforms that sadly completely missed the mark in terms of delivering what traders are really looking for. I believe this happens when development occurs in isolation from the intended users.

    But truth be told, rapid experimentation does not always lead to a success story.

    Rapid experimentation helped me pull the plug on a doomed project

    A few years ago, I wanted to see if it was worth starting a free service for traders similar to Twitch; in other words, a platform where people can easily stream their trading activity but where they’re in a tighter community of active traders. We got a few dozen people streaming at first, and they, in turn, had modest followings. But it didn’t take long for me to come to a difficult conclusion. Twitch and YouTube are successful because they attract a massive audience, attracting advertisers.

    My new platform was too niche. Even though it was free, our total available market was too small to bring in the advertising revenue we needed to keep that platform running. No amount of product iteration was going to change these dynamics, but the good news is that I was able to pull the plug while we were still in the early stages of development.

    I wrote off that project as a loss. But every loss is a lesson. There’s a saying in Silicon Valley: You don’t learn until you ship. I would expand on that to say: Ship fast. Fail fast. Ship again. Just like in trading, in business, we must be willing to take risks, but we must also cut losses quickly.

    A few takeaways:

    1. Think hard before seeking external funds for your venture. Self-funding doesn’t earn commissions for anyone, so you hear less about it, but it can potentially take substantial pressure off you.
    2. Focus on ROI, but also focus on ROT: Return on Time. Rapid experimentation, along with rapid decision-making, can not only save money but can gain you a first-mover advantage. You can be on version 4.0 — or be done with an unworkable experiment — before the competition has finished suiting up.
    3. Be proud of the money you raise and even prouder of what you rapidly ship. Many fortunes have been made with external capital, but even more great, young businesses have been snuffed out by the constraints and risk-aversion that the capital brought. By all means, do a round of high fives if you close a round of financing. But save your biggest celebrations for when you rapidly confirm your failed experiments and ship your newest winner.

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    Ross Cameron

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  • 4 Ways to Increase Efficiency Within Your Business | Entrepreneur

    4 Ways to Increase Efficiency Within Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    Operational efficiency is always important for a business. Everywhere you turn, there are threats to stability, from supply chain disruption to war in Europe to inflation in the US and even deflation in China.

    Efficient activity and productive operations haven’t been more important to successful business since the Great Recession started fifteen years ago. With that in mind, here are a few techniques and strategies you can use to improve operational efficiency in your company.

    1. Make communication a perpetual investment

    Optimization isn’t something reserved for search engine marketing or data and analytics. It also applies to more nuanced activities — like communication.

    Related: What Are The Safest Investment Options for Earning a Good Return Over Time? A Financial Expert Explains.

    It’s easy to set a vague standard of “prioritizing communication” at work. But the truth is, healthy communication isn’t a set-it-and-forget-it kind of activity. It requires ongoing investment, adjustment, and improvements.

    Forbes and Harvard Business Review Advisory Council Member Sharesz T. Wilkinson points out that communication is the “core activity” at work. It is the number one thing we all do. Wilkinson adds that despite its critical role, there is a significant skill gap between current employee communication skills and those required to unleash higher efficiency and, by extension, greater success.

    Both the need and lack of communication skills make it a key investment. Businesses that want to remain efficient must start by addressing this core activity. You can do this through perpetual upskilling and setting communication standards.

    You can also improve and consolidate your communication tools and channels. Using a platform can facilitate faster, clearer communication by seamlessly recording and sending videos and screenshots between coworkers. This reduces the number of unnecessary meetings, improving communication and enhancing productivity.

    2. Consolidate your tech

    Speaking of consolidation, the concept should be applied to much more than communication. Technology has been a godsend for businesses everywhere, but it is a two-edged sword.

    A quarter of the way into the 21st century, many companies that previously basked in the efficient power of cutting-edge tech solutions are now mired in an expensive and complex tech stack that keeps growing. The solution? Consolidation.

    While there are still plenty of companies leading the charge into new ideas and iterations of technology, a growing number of brands are focusing their software development on consolidation. Tools like Trello bring everyone’s workflow into a single platform, boosting productivity in the process. Slack helps communication take place in a single app.

    Related: 14 Proven Ways to Improve Your Communication Skills

    Investing in both targeted and comprehensive consolidation tools like these can have a dramatic effect on efficiency. It removes complex barriers and siloed information and helps teams tap into the true productive power of their technology.

    3. Try a SOC 2 audit

    A SOC 2 audit is a framework created by The American Institute of Certified Public Accountants (AICPA). The system focuses on managing client data in a trust-approved way and emphasizes things like data security, confidentiality, privacy, and integrity.

    While the focus of a SOC 2 Audit is often on data privacy and security, it is also a powerful way to improve efficiency. A thorough audit of your data management can improve the availability and processing of information within your organization.

    In addition, the security offered by the audit can help you avoid downtime or other time and resource-related costs that come with a security breach. By investing in up-to-date and strong data management practices, you can create a clean environment that keeps your company firing on all cylinders.

    4. Consider a 4-day work week

    Sometimes, the right thing to do is the most counter-intuitive option. In the case of looking for greater efficiency and productivity for a brand, a 4-day work week may be the solution.

    The efficiency angle actually isn’t too hard to grasp here. If everyone only works for four days a week, they will be able to come to work more rested and apply themselves more fully throughout their shorter work week.

    Surprisingly, studies have shown that a 4-day week isn’t just more efficient. It can also be more productive and improve overall job satisfaction and well-being.

    A shorter workweek enhances productivity by motivating and equipping employees to get more done in a smaller window of time. The end result, when observed for 18 months, was that workers could still get the same amount of work done in 33 hours as they originally had done in 38.

    This means more productivity in less time and with fewer resources and overhead. Translation: it’s efficient.

    Increasing efficiency within your business

    We are in an economic environment where businesses don’t have the luxury of making mistakes. Efficiency and productivity are no longer tools to excel. They’re required for survival.

    As you guide your business, remember to invest in efficiency — no matter what form it may take. Improve communication. Consolidate tech stacks. Audit data management. Embrace a shorter work week.

    If you can make these kinds of changes with confidence, you can pave the way for your company to survive the present and thrive in the future.

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    Kimberly Zhang

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  • How Do You Know If You Should Rebrand? Here’s Some Advice | Entrepreneur

    How Do You Know If You Should Rebrand? Here’s Some Advice | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Should you rebrand? On average, 74% of the S&P companies rebrand within the first seven years. Rebranding is a significant endeavor that can evoke a mix of emotions for companies. It involves many variables and can be both exciting and scary. There are a lot of questions my clients have on whether or not they even need to rebrand.

    At my company, Strategic Advisor Board (SAB), we help clients through opportunity analysis and strategic planning. Sometimes in the strategic plan, we advise the clients to rebrand. If our clients are the ones who bring up wanting to rebrand, we always ask them a few key questions first:

    1. Why do you want to rebrand now?
    2. Have your clients changed?
    3. Is your brand out of date?
    4. Is your growth potential being impacted?
    5. Is your brand no longer in line with your current clients’ needs and wants?
    6. Have you outgrown your brand?
    7. Is it difficult for your clients to tell your brand apart from your competitors?
    8. Has your services or business model changed?

    The first question holds significant importance. At times, businesses consider rebranding simply because it’s been a while since they did any changes to their image. But the why behind the rebrand is what gives way to your brand strategy.

    Related: Is Rebranding the Right Move for Your Company? Here’s How I Knew It Was Time

    When rebranding, what key areas do you need to focus on?

    Brand audits are crucial for aligning your brand identity with your new brand strategy. There are three types of rebranding: brand refresh, partial branding and full branding. A brand refresh will only change a few minor elements, usually within the visual side of things.

    This could include changing a few elements in a logo and or slightly modifying the brand color palette to keep it modern. A partial rebrand would include changing some elements but not others. A full rebrand would change all elements of the brand as if you were a brand-new company. Whichever route you decide to go down, keep in mind that a brand strategy has to do with your company’s positioning in the marketplace and there needs to be a goal in mind of why the strategy is being done in the first place. These are elements of your brand you could change to suit your strategy:

    Business name

    Rebranding can include changing your business name. Start with your brand name. Does your name still connect with your audience? If you’re trying to reach a new audience, does it connect with them? A good name is unique and uses clear, easy-to-remember words. Stay away from trendy words or slang since words can change meaning over time.

    Mission and vision statements

    Do they still align with your company’s focus? Remember, a good mission statement should include a company’s ethics, values, culture and goals and it should affect how your employees and stakeholders operate. It should be clear and concise and easy to understand the first time it’s read and keep it around 1-3 sentences long. Make sure you re-evaluate your values and see if they fit with your new image. A good vision statement should include looking into the future and explaining where the company is going. Also, it should be 1-2 sentences max.

    Related: How to Rebrand Without Losing Your Search Engine Rankings

    Logo design

    I’ve included typography and brand colors in this section as they’re all a part of the visual components of your brand. Brand colors can increase brand recognition by 80%. When most small business owners start creating their brands they’re not thinking about the psychology of colors and how they play on human emotions.

    There’s a whole world behind brand the psychology of color theory and if you look at certain industries you’ll notice there are some common themes in colors. For example, in the restaurant industry, red is used in order to create an appetite. So don’t underestimate the power of brand colors in your logos! A good logo will be simple, look good on all scales, whether it’s on a business card, website or billboard, and it will evoke a sense of feeling of what the brand’s personality is like. If you’ve noticed, in most of the mentioned categories of rebranding, a common theme is simplicity. It’s no wonder that 95% of the top 100 brands in the world only use one to two colors in their logos.

    Brand voice

    Your brand voice is the personality that comes out in all of your marketing and it must be consistent in all communication you have with your clients. From your online presence to the way your employees conduct themselves within their customer service roles.

    It’s important to stay consistent. I would argue this is one of the most important parts of your brand because it’s how you directly connect to your clients. So when you’re rebranding think about if your current voice reaches a demographic you want to continue reaching, or if you want to branch out to another demographic, will they resonate with your brand personality? Maybe your current demographic has connected well to your informal voice but in order to expand to another demographic you would be better off adding a bit of humor to the mix.

    Related: Does Your Company Need A Rebrand? Here’s Why, When and How You Should Do It.

    Tagline

    Taglines aren’t necessary for your brand but they do help in creating first impressions of what your business is all about. A good tagline is short, relevant and creative and it helps with your company’s brand identity and recognition in turn setting you apart from your competitors.

    There are a lot of great reasons to rebrand, just keep in mind that your rebrand should help drive brand loyalty and engagement, create excitement, increase revenue and have a clear purpose and strategy behind it. By updating either some or all of your branding through your business name, mission and vision statements, logo, voice and tagline, you’ll be able to reach new markets, stay modern and stand out from competitors.

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    Jason Miller

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  • How to Using Influencers, AI and Social Media to Drive Growth | Entrepreneur

    How to Using Influencers, AI and Social Media to Drive Growth | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    ‘Prime Energy Drink’ — it’s everywhere! Their striking cans are impossible to miss in supermarkets and convenience stores. What fueled their surge? The secret ingredient is the influencer duo Logan Paul and KSI.

    Despite looming concern (its caffeine has triggered calls for the FDA to investigate), Prime Energy has quickly created a space for itself in a crowded and competitive market. This curious case begs the question: If influencers can spearhead a product’s success, how does this revelation apply to your brand? How can you get the most bang for your buck when leveraging social media? My teammate, Ronan O’Callaghan, and I did the research, so you don’t have to.

    This article explores this subject by examining a series of case studies about influencers, the power of blending the digital and physical worlds and AI. By the end, you’ll have a strong understanding of how to leverage these powerful tools for all they are worth.

    Part 1: Using influencers the right way

    Influencers possess immense power to shape consumer perceptions. The previously mentioned meteoric rise of Prime Energy is only one example. Mr. Beast, the world’s most popular YouTube personality, has transformed his name into several successful consumer brands, including a chain for ghost kitchens, chocolates and athletic clothing.

    It might seem like influencers have a Midas touch: an uncanny ability to turn ventures into success stories. However, these successes only materialized after years of painstaking brand cultivation. That means your next big marketing success won’t just come from getting your product into an influencer’s hands and hoping some of their magic will rub off on you. You need to select influencers whose brand values resonate with yours and engage innovatively.

    Häagen-Dazs offers an instructive case study. Häagen-Dazs wanted to remind New Yorkers that ice cream is integral to summer. They partnered with millennial influencers living in New York to promote their product throughout the city. The campaign generated 14.3 million impressions, 4 million more than their goal. If they had tried to reach that number of people through conventional means, it would have cost them 3x as much. The lesson: working with influencers whom your target customer can relate to can create a real connection. In a deeply digital and distressingly disconnected world, this is especially important to remember.

    You can reach a broader audience by working with a diverse range of influencers. When the HISTORY channel started a TikTok account in 2021, they wanted to reach beyond their typical audience. They contacted Paralympians, cooks and hurricane chasers on TikTok to promote their wide range of educational programs — the result: 21 million views and exposure to a new audience.

    To harness the true power of influencers, businesses should aim for a more profound alignment than a mere product endorsement. This collaboration should reflect shared values, a unified vision and genuine resonance with the target audience. This deep-rooted connection has the potential to foster not just temporary engagement but long-term brand loyalty.

    Related: 5 Ways to Stop Wasting Money on Influencer Marketing

    Part 2: Blending digital and physical worlds

    Many brands focus heavily on the digital realm when considering social media. However, the recipe for substantial success lies in orchestrating a symphony between digital engagements and physical realities. Especially for brands with brick-and-mortar stores, this harmony can engage the younger generation of consumers who seamlessly navigate between the online and offline worlds.

    McDonald’s ‘Grimace Shake’ campaign is an excellent example of this philosophy. This initiative didn’t just create a buzz; it crafted an engaging narrative that allowed consumers to participate actively. Consumers posted themselves getting the shake; some even made animated parodies, giving the shake to fictional characters from media franchises.

    The genius of the Grimace Shake is that it understood that engaging with social media is not simply a matter of advertising. People don’t want to stare at ads; they want to be a part of the action. This trend created a global cultural moment anyone could engage with: the gold standard of social media engagement.

    Another brand that has effectively harnessed this strategy is Duolingo, which leveraged its mascot for user engagement and kept a keen eye on evolving trends like TikTok’s rise. By focusing on this larger trend and creating content that matches young consumers’ irreverent and self-deprecating sense of humor, Duolingo earned 6.3 million TikTok followers, making it one of the most followed accounts on the website. Duolingo has been so successful that they are now starting to forgo TV advertisements.

    McDonald’s and Duolingo also share a marketing strength: their recognizable mascots. Their simple and iconic designs make it easy for young people to create memes featuring them. Again, hooks like these allow customers to engage. These monocolored, simple mascots can easily be inserted into images, making them ‘memeable,’ a valuable asset for engaging with GenZ consumers.

    However, this approach requires a shift from traditional advertising mindsets. It’s about embracing social media not merely as a billboard but as a platform for storytelling. The best stories aren’t just read or heard—they’re experienced. Brands need to create immersive experiences that allow consumers to be a part of the narrative, leading to stronger connections and loyalty.

    Related: How to Make Social Media Marketing Effective for Your Brand

    Part 3: Seeing through the noise with AI

    So, how can your brand forge such victories? The answer lies in understanding these insights and tailoring them to your unique brand proposition. Staying ahead of trends — both ephemeral fads and lasting shifts — is key to gaining a competitive edge.

    AI-powered sensing is an invaluable tool for identifying these trends and recognizing which ones will strike a chord with your consumers. For example, BeReal is a fast-growing social media platform with 20 million daily users. Yet, no companies have been able to capitalize on this space for marketing. Despite this, one of our AI sensing partners identified it as a growing space where companies could succeed by promoting their brands.

    To make the most of these trends, brands must be agile, constantly adapting their strategies based on these insights. It’s not enough to just know what’s “in” today. Businesses should be proactive, anticipating what’s coming next and positioning themselves at the forefront of these trends. This approach boosts brand visibility and positions the brand as an innovator in consumers’ eyes.

    The realm of social media presents an unparalleled opportunity to engage consumers in ways traditional advertising could never dream of. You can revolutionize your marketing strategy by creating brand-aligned partnerships with influencers, crafting narratives that interweave digital and physical experiences and harnessing AI’s trend-predicting powers. By channeling these strategies, you can become the next big sensation.

    The question is – are you ready?

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    Francesco Fazio

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  • AI vs. a Human Touch: Finding The Right Balance When It Comes to Branding | Entrepreneur

    AI vs. a Human Touch: Finding The Right Balance When It Comes to Branding | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a world where digital interactions dominate, the symbiotic relationship between artificial intelligence (AI) and branding is transforming the landscape. While AI can’t replicate the genuine human touch, it’s emerging as a powerful tool to forge authentic connections with consumers.

    In the competitive business landscape, companies of all sizes are looking for opportunities to work smarter, faster and better than the competition. An increasing number of AI tools can assist with branding and reputation management, but the overwhelming number of options leaves many falling short.

    Related: How AI is Forcing Marketers to Reinvent the Industry

    The human connection beyond the algorithm

    The first and most important step is to understand AI as an assistive technology, not a replacement for human effort entirely. Secondly, it’s critical to be aware of the personalized, connected interactions that today’s consumers demand. Emotional connections create a resonance with potential customers, leaving them with confidence and trust in the brands they choose.

    In today’s world, branding is all about making that connection with your audience. By nature, it’s a process that requires empathy, understanding and creativity. You’re trying to figure out:

    • How to present your brand as an authority within your industry.

    • How to use branding to build trust and connection with your audience.

    • What “branding” even means to today’s audiences.

    • How you can bring this all together to succeed in branding your business properly.

    Understanding human interactions and behaviors can help you create more successful strategies in branding, marketing and beyond. When you add the power of AI, you can do even more.

    AI as a catalyst for personalization

    As we’ve learned from the use of various AI tools and machine learning models, vast amounts of data can be analyzed in a very short amount of time. For businesses looking to improve their personalization, this is a huge benefit. No longer do your employees have to spend hours sifting through and organizing customer data to deliver personalization. They can simply put the AI to work to gather insights on preferences and user expectations.

    This will allow you to deliver an enhanced customer experience that includes everything from tailored recommendations for products and services to customized messaging in your marketing campaigns. And you can do it all without having to cull the data yourself when you enlist the help of AI.

    In the past, the focus was mostly on market segmentation, or dividing audiences and defining customer personas based on certain demographics or other factors. Businesses were looking at this as a more targeted option than blanket marketing, and it became the norm. AI takes that one step further, refining the targeting process even more and allowing your brand to make connections with your customers on a deeper level.

    Related: 3 Timeless Elements of Storytelling That Will Grow Your Business

    The role of AI in storytelling and creating emotional connections

    There are several AI tools that you’re probably already using to help you tell the right story with your content. Keyword research, topic generation tools, analytics reports (that are AI-generated) — the list is longer than you might think.

    AI is a powerful element in storytelling because it can use the data provided to identify narratives that resonate with various audiences. Artificial intelligence and automated tools can help you optimize the delivery of your content, too, so that your stories find the right users at the right time.

    This also helps brands identify the emotional triggers that drive consumer behavior, which makes it easier to create an emotional connection in the brand experience. Emotional AI is even becoming more popular, as tools that can identify emotions through words or facial recognition are being developed by many big players in the industry.

    And those emotional connections are what will set your brand apart. Take, for example:

    • Brazil’s Yellow Line used AdMobilize emotional AI to measure face metrics and display ads based on people’s emotions.

    • MetLife implemented an emotional AI coaching tool to help agents better detect emotional states and provide real-time tips and assistance for agents. This increased their NPS score, Perfect Call scores, and issue resolution and decreased call handling time.

    These are just a couple of examples of how many brands are starting to use AI to create emotional experiences that today’s audiences enjoy.

    Enhancing brand consistency

    Of course, we can’t talk about AI and automation without discussing the benefit of consistency. With AI, you can maintain brand consistency across all platforms and touchpoints without having to even think about it. AI can help you align messaging, tone and design to come up with a cohesive brand identity that you can share with the world.

    AI can even help you identify areas where things aren’t consistent or instances of your brand that may need a second look. This helps you further ensure that you’re staying ahead of the competition and delivering the connected experience that people desire. AI can even go as far as to outline a strategy or process for you so that you can further refine it into manageable touchpoints and provide a consistent experience from start to finish.

    Related: What Is Artificial Intelligence (AI)? Here Are Its Benefits, Uses and More

    AI and human authenticity: A synergy

    AI cannot replace the authenticity of human creativity and conceptualization. However, it can enhance several areas of the human experience. In an era of AI-driven innovations, maintaining those authentic connections with your consumers remains a priority. While AI is a tool that can optimize data analysis, personalization, storytelling, and branding, the human element remains at the core of brand-consumer relationships.

    By embracing AI as an augmentation to your human efforts, your brand will be able to forge a path toward meaningful, personalized interactions that resonate in today’s digital world. AI is poised to become a powerful tool for branding and marketing, amplifying the capabilities of your human employees and delivering data-driven insights that will help you create more effective branding strategies moving forward.

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    Tatiana Dumitru

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  • How to Calculate Your Net Worth | Entrepreneur

    How to Calculate Your Net Worth | Entrepreneur

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    We see the term “net worth” thrown around all of the time when it comes to reporting on celebrities, sports stars, and business leaders. But what is it exactly?

    Entrepreneur’s online encyclopedia defines net worth as the difference between a company’s or person’s total assets and their total liabilities.

    In this guide, we’ll focus on personal net worth. Your personal net worth is a number that is just as important — if not more important — than your income. Experts suggest that you should periodically add up your personal assets and liabilities, just as you do with your business, to determine if you are in a good place or need to adjust your spending. A clear picture of your current situation will allow you to grow your net worth through some combination of decreasing liabilities and increasing assets. We’ll explain the specifics of how to do that later on.

    Try our online net worth calculator

    A huge reason to be thinking about assets is retirement planning. Simply put, the more assets you have, the more comfortable your retirement will be. You may also need a high personal net worth to buy a business, pursue some types of investments, purchase a second home, pay for a child’s college education, or for other purposes.

    Over the course of this guide, you will learn all of the ins and outs of net worth calculation and management to secure and improve your financial future.

    Related: 8 Success Lessons From the Richest Person on the Planet

    Key takeaways

    • Why is net worth important?
    • How to calculate your net worth on your own
    • How to use our online net worth calculator
    • What the median net worth is for different age ranges?
    • How to increase your net worth
    • More resources to manage and grow your personal wealth

    Why is net worth important?

    The equation for your net worth is fairly simple: Assets – liabilities = net worth.

    That means it is the total value of everything you own, minus the debts you have to repay, and your monthly cash flow, which shows your monthly income and spending patterns, writes Nightingale-Conant in The Power of Passive Income.

    As basic as that sounds, we’re often reluctant to check in on our financial health. Many fear that their financial situation is not as good as they hoped, which can be stressful. Others avoid facing their personal finances due to a lack of basic understanding — the terminology or concepts seem daunting.

    But not taking inventory of your finances is a huge mistake, according to money management experts. As Brian Tracy writes in his book Million-Dollar Habits, understanding your net worth is critical to achieving your financial goals. Do you want to become a self-made millionaire? Tracy explains, “The starting point of achieving financial independence and becoming a self-made millionaire is for you to accept complete responsibility for your financial life. Many people never do this. They instead go through their days, and their money, trusting to luck with the idea that somehow, sometime, someone else will come to the rescue. They buy lottery tickets, gamble, and think about making a killing in the stock market. And they worry about money all the time.”

    Related: Your Network Is Your Net Worth: 5 Lessons on Building Stronger Connections

    Tracy continues, “The fact is that serious money is long-term money. Most wealthy people organize their financial lives in such a way that their net worth increases by about 8 to 10 percent per year on the amount of money they have working. They do not look for get-rich-quick schemes or easy money. They are patient, persistent, and farsighted. They discipline themselves to save and accumulate money over many years. They do not speculate, take risks, or look for fast ways to make money quickly and easily. Because of these habitual ways of thinking about their money, each year their wealth grows. Eventually, they pass the million-dollar mark and usually keep on going.”

    How to calculate your net worth

    As we’ve said, to calculate your net worth, you will need to subtract your total liabilities from your total assets. What goes into calculating those total figures? Let’s take a look:

    Included in total assets:

    • Real estate
    • Investments
    • Savings
    • Cash deposits
    • Home equity
    • Car equity or other similar assets

    Included in total liabilities:

    • Mortgages
    • Credit card balances
    • Student loans
    • Car loans
    • Recurring bills
    • Taxes

    Using our online net worth calculator

    To use Entrepreneur’s net worth calculator (find it at the bottom of this article) you will need to gather and enter the following information into the defined fields.

    • Real estate: The current value of your home (if you own it) and any other properties
    • Checking account: The total amount of money you have in your checking account
    • Savings account: The total amount of money you have in your savings account
    • Retirement account: The total amount of money you have in IRAs, 401Ks and mutual funds
    • Autos: Total current market value of your vehicles (cars, trucks, boats)
    • Other assets: Any other accounts, the current market value of other sellable assets
    • Mortgages: The amount of money owed on your mortgage loan(s).
    • Consumer debt: Total credit card balances, unsecured personal loans and payday loans.
    • Personal loans: Any money you’ve borrowed from a bank or other financial institution.
    • Student loans: The total balance on an outstanding student loan or loans.
    • Auto loans: The total balance of your auto loan(s).
    • Other debts: Any other balances you are committed to paying off.

    How does your net worth compare to others?

    Every three years, the Federal Reserve Board issues the Survey of Consumer Finances, which includes information about taxpayers’ incomes, net worth, credit usage and more. The most recent report was released in 2020, pulling together data collected from 2016 to 2019.

    Per the report, in the 2016-2019 time period:

    • Americans’ average net worth rose 2 percent.
    • Families at the top of the income and wealth distributions experienced very little, if any, growth in mean net worth.
    • Families near the bottom of the income and wealth distributions generally continued to experience substantial gains.
    • About 13 percent of families owned a privately held business. Business ownership increases with income, and nearly 40 percent of families in the top decile of the income distribution owned a business.
    • Wealth continued to increase among families with either a high school diploma or some college. But families without a high school diploma saw the largest drops.

    Here’s how that all breaks down by age and average. Some of the averages will seem very high. That’s because affluent families bump up that number significantly. Look at the median net worth, which are the midpoint values in the calculations for a more useful comparison point.

    • Age of head of household: Less than 35
    • Median net worth: $13,900
    • Average net worth: $76,300
    • Age of head of household: 35-44
    • Median net worth: $91,300
    • Average net worth: $436,200
    • Age of head of household: 45-54
    • Median net worth: $168,600
    • Average net worth: $833,200
    • Age of head of household: 55-64
    • Median net worth: $212,500
    • Average net worth: $1,175,900
    • Age of head of household: 65-74
    • Median net worth: $266,400
    • Average net worth: $1,217,700
    • Age of head of household: 75+
    • Median net worth: $254,800
    • Average net worth: $977,600

    How to increase your net worth

    To increase your net worth, you want to decrease your liabilities (debts) while maintaining or increasing your savings. Below are some specific ways to go about that. Yes, some of these suggestions are easier said than done but don’t give up. The prevailing advice from experts is to simply do what you can. Every little bit helps when it comes to building wealth and good financial habits. Remember, this is not a sprint — it’s a marathon that requires discipline and patience. Focus on paying down your debts with the highest interest rates.

    As Nightingale-Conant in The Power of Passive Income, “Credit card debt in particular—can paralyze you financially even if you’re totally up to speed in every other way. You can be motivated, intelligent, creative, and everything else, but if you’re having to service debt every month, you’re not going to have the small initial investment capital you need.”

    Nightingale-Conant continues, “The first step is a bit of honest self-assessment. Many people feel so badly about their consumer debt that they actually don’t know how much they have. They’d rather not think about it, so they just pay the bills every month and put it out of their thoughts. That’s not the way to make credit card debt go away, however. Start by determining exactly how much you owe. Frightening as that may seem, you’ll actually feel better once you have a dollars-and-cents figure to deal with.”

    Increase your retirement savings

    Entrepreneur magazine experts recommend that you contribute as much to your 401(k) plan as possible up to the contribution limit. (In 2023, the max total between you and your employer is $66,000.)

    The ideal retirement contribution percentage varies depending on your age, the cost of living, and your personal finances. For example, it may be a good idea to contribute between 10% and 15% of all your gross income toward retirement. You can contribute this amount toward a 401(k) or a 401(k) combined with an IRA (individual retirement account) in your 20s and 30s. If you are behind in retirement savings in your 40s or 50s, consider contributing more to your 401(k) account. If you’ve already hit your 401(k) plan limit, look into alternatives like IRAs or Roth IRAs.

    Cut back on any unnecessary expenses

    “When you develop the habit of thinking more carefully about your income and savings, you will soon find yourself spending less and less on your day-to-day expenses,” writes Brian Tracy in Million-Dollar Habits. “You will begin paying down your debts and not incurring new ones. You will start delaying or deferring expenditures and finally stop buying those items entirely.”

    Here are some common areas you can cut back on:

    • Unsubscribe from unused content subscriptions
    • Cut back or cancel streaming services
    • Reduce or cancel your cable TV plan
    • Reduce your cell phone plan
    • Cancel unused gym memberships

    Use auto savings to create an emergency savings fund

    Automatic transfers allow you to have a set amount of money transferred into your savings account each month. You can do this through online banking accounts. Most institutions allow you to choose a specific dollar amount or a percentage of each paycheck to transfer into your savings.

    Refinance your mortgage

    Depending on where rates currently are, refinancing to a lower rate can help lower your monthly payment, save money on interest payments and help pay off your mortgage sooner. You can also change the duration of your mortgage. So if you have 20 years left on your mortgage, you can decide to refinance into a 15-year loan which may increase your monthly payments but save on the overall amount you’ll spend in interest payments.

    The following are just a few of the benefits of refinancing your mortgage to help with your savings goals:

    • Lower your interest rate to save on monthly payments.
    • Put any “extra” money from those monthly payments into savings.
    • Shorten the length of your mortgage for a quicker payoff.
    • When rates are attractive, change from an adjustable rate to a fixed-rate mortgage to provide more financial stability.

    Increase your salary

    If you are employed, think about asking for a raise, keeping in mind these tips from Sam McRoberts:

    • Learn your worth by checking online resources dedicated to gathering and providing data about salaries throughout the world, including Glassdoor, Salary, and job-hunting sites like Indeed. Spend a few hours examining what people like you in places like yours make per year.
    • Make sure you ask for more than you think you can get (but not too much more), arm yourself with facts, be prepared to stand your ground and don’t be afraid to face rejection.
    • Think about timing. Don’t ask for a raise immediately after the company gets some bad news, or when you know money is tight, or even when your boss appears to be in a bad mood. Instead, wait until you’ve accomplished something especially significant, or wait until the end of the year, after a glowing performance review.

    Set specific financial goals

    It’s simple psychology: The more clearly you define your financial goals, the more motivated you’ll be to make wise financial choices.

    “The benefit of setting goals is really to help yourself achieve what you want to achieve,” said Elizabeth Koraca, an executive coach and career strategist. “You have to have clarity on what you want and a clear path how to get there.”

    Ask yourself what excites you. Is it owning a home? Putting the kids through college? Starting your own business? Once you know what you want, you’ll have the inspiration you need to stick to those goals.

    Allison Task, a career and life coach uses SMART goal setting to help people. SMART is an acronym for:

    Specific: Goals need to be focused and have exact details.

    Measurable: Have a metric for tracking progress.

    Attainable: Goals need to be realistic.

    Relevant: Your goals should be things you have a genuine passion for.

    Time-bound: Set a timeframe for achieving your goal.

    “By using this framework, you are more likely to achieve the goal, because you will think through the specifics of what needs to happen for you to do it,” Task said.

    Find passive income revenue streams

    Nightingale-Conant, in The Power of Passive Income, encourages entrepreneurs to find online side hustles that they can pursue during off hours. And importantly, based on topics that they have a genuine passion for. “One thing that is really exciting about being an online entrepreneur is that often the paths with the lowest barriers to entry center on topics you are already familiar with. Making money online is exciting. Making money online about a topic you love is even better. That’s when your work doesn’t feel like work. For this reason, listing the hobbies, interests, and topics you’re experienced in is really helpful. When you’re evaluating some of these ideas, already being aware of niches and industries that you have some advanced knowledge of will be helpful to you. There is no interest that doesn’t count.”

    Here are a few areas to think about:

    Hobbies

    • Do you have hobbies about which you are passionate? Perhaps you belly dance or sail, or are really into massively multiplayer online role-playing games like Fortnite.
    • Do you show dogs?
    • Do you run a playgroup for moms?
    • Are you an artist?
    • Do you play any sports?
    • Do you love to travel?
    • Are you an avid photographer?
    • Do you sew?
    • Any area of interest is fair game online.

    Education

    • Do you have a degree or certification in anything?
    • Do you have a psychology degree?
    • Are you a certified doula?
    • Did you get a certification or training program in something else?

    Profession

    • Are you or were you at any time a nurse?
    • Have you worked as a dental hygienist?
    • Did you work in a flower shop and can make wicked flower arrangements?
    • Do you have experience ramping up for online success in event planning?
    • Have you worked in real estate off and on your whole life?

    Everyday life

    • Are you a fashionista?
    • Do you follow the current music scene?
    • Are you interested in politics?
    • Are you a parent?
    • Are you a corporate executive?
    • Are you an extreme couponer?

    These are just a few examples to get your juices flowing. If you have something you are passionate about or interested in, there are tons of other people who are, too.

    Related: How Networking Can Increase Your Business’ Net Worth

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    Entrepreneur Staff

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  • The Importance of Connecting Your Company to Your Product and Users | Entrepreneur

    The Importance of Connecting Your Company to Your Product and Users | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When you first launch a startup, you, along with your small initial team, are able to build something incredible from the ground up — and that’s because everyone is intimately connected to the company vision. As your company grows to 100 employees, 500 employees, and beyond, maintaining that connectivity gets a little harder. But I believe that when all employees are aligned with the company vision and culture, and they truly understand the value of the product they’re building, that’s when you get an amazing impact.

    This is how it’s done:

    Related: A Step-by-Step Guide to Achieving Organizational Alignment

    Connecting to your company, connecting to your product

    Your company and your product are entirely codependent — one cannot exist without the other.

    A product’s development and evolution is hugely influenced by the company’s culture, vision and core values. When teams within a company feel connected to its primary goals, they’re more motivated, engaged and creative.

    A positive company culture is one of the most important things you can create. Understanding the company’s culture fosters a sense of purpose and drive among employees. It gives your workforce a roadmap to help direct their actions, aligning them towards one common goal. This alignment not only improves the product development process but also creates a positive and empowering work environment where creativity thrives.

    This is important from day one. That’s why I personally make the time to meet with all our new hires as part of their onboarding process to discuss the company values and mindset.

    Understanding the competition

    To create a product that stands out in the market, experience has shown me how crucial it is to fully understand the competition. Getting a sense of the visions and cultures of similar companies can offer valuable insights into their strategies and areas of focus. By doing so, you can then identify your company’s unique edge and really zero in on the areas where improvements can be made to better serve your users. It’s important to not only meet industry standards, but understanding your competitors allows you to go beyond them as well.

    Using competitive analyses to map industry standards, help set benchmarks and strategize the unique selling proposition — this understanding also positions your business to develop the best possible product for the user. When launching a new product, subscription tier or feature, I work with my teams to first do a competitive analysis and deep dive into the value proposition.

    Related: 8 Effective Ways to Connect With Your Customer

    Understanding the user

    There’s not a day that goes by that I don’t look at user feedback. Having a close understanding of your users is one of the best ways to be connected to your product. It’s important to look at the user and their experience from all angles: needs, pain points, workflow and skill level. By doing so, you can tailor your products to provide real solutions and even exceed customer expectations.

    To further help understand the user, I’ve found that diving into the voice of the customer is one of the most valuable and insightful ways to guide product development. User surveys and sentiment analysis allow businesses to collect feedback directly from their customers, enabling them to gauge customer satisfaction and identify areas for improvement.

    Customer support interactions are also an invaluable source of information. Analyzing customer support data can reveal recurring issues and pain points experienced by users. This information empowers you to proactively address problems and foster increased customer loyalty.

    Lastly, A/B testing is a powerful tool that helps compare different versions of a product to determine which resonates best with users. Through A/B tests, you can make data-driven decisions and continuously enhance your products based on user preferences.

    Directly engaging with users and gathering real-time feedback ensures that the user, and delivering the best possible product, is at the center of all decisions. A customer-driven approach creates trust and loyalty.

    Becoming your own customer

    Every single person who joins our company has to complete a task where they use our product to create some content. This is because to fully grasp every last detail of your product, employees need to not only think like customers but become them.

    By using the product as their clients do, teams gain first-hand insights into its functionalities, flow and user experience. This exercise allows employees to identify potential bottlenecks, fine-tune the product to enhance the user experience, understand which features are most useful, how best to market the product and so on. There’s no end to the valuable insights that can come from becoming your own customer.

    Ultimately, your product and organization are mutually inclusive — to have the best product on the market, your company has to have the clearest understanding of why they do what they do, who it’s for, and feel personally connected. I believe that by stressing the importance of aligning goals and making customer-driven decisions, both your organization and product will feed off one another and thrive.

    Related: How to Increase User Empathy and Build Better Products

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    Itzik Elbaz

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  • This is What It Actually Means to Show Up — Both Personally and Professionally | Entrepreneur

    This is What It Actually Means to Show Up — Both Personally and Professionally | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    A favorite subject for entrepreneurial articles and podcasts is that of habits. Hundreds (if not thousands) of books are touting the importance of creating good habits. Your own habits depend on your end goal, but a lot of them seem to place particular importance on mastering your morning routine. Maybe that looks like meditating or hitting the gym by 6 a.m., gulping grass-fed butter-infused coffee or a superfood smoothie, and jotting down something in your daily gratitude journal before heading to work.

    Good habits are a method of keeping ourselves on course. In James Clear’s book Atomic Habits, he shares an analogy about a flight from LA to NYC. If the pilot points the nose just a few degrees south, eventually, the plane will end up in DC rather than its intended destination. It’s a great example of how tiny changes can make a big difference.

    We know good habits are important, and, particularly as entrepreneurs, we must stay on our A-game. People are watching, right? We’re setting an example, and the pressure is on. So, why, o’ why, do good habits sometimes feel like they’re so hard to maintain?

    Related: 18 Destructive Habits Holding You Back From Success

    Why consistency can feel hard

    Reading Clear’s book, I thought, “Oh, that’s why staying on the path matters. Cool!” But as I sat with that concept for a few minutes, I started to feel some anxiety creeping in. As a leader, I can’t take a single step in the wrong direction because if I do, I miss my target. And people are counting on me.

    What if I make a bad decision? What if I’m not always the last one to leave the office? What if I totally spaced that meeting… twice? What if I hired someone who turned out to make everyone’s life more stressful? What if I didn’t pick the right snacks for the break room?

    Aaaahhhhhhhhhh. I’m gonna need that oxygen mask.

    We sure do put a lot of pressure on ourselves. Stay on the path. Don’t mess up. And when that performance pressure becomes too much, our brains or bodies (or both) just crash. That’s a message, not a failure.

    When it happens, it’s important to take a moment to ask if the path you’re pursuing is actually leading you to the destination you think it is. After all, you’re a person, not a plane. If your body feels tired or your mind feels overwhelmed, it’s totally okay to touch down. Recalibrate periodically. Reevaluate the path.

    Related: 3 Simple Methods To Achieve Work-Life Balance And Combat Decision Fatigue

    Showing up is personal

    Habits can be anything you want them to be, but to qualify as habits, they need to stay consistent. We have to show up when we say we will to reap the rewards. Yes, I know it sounds a lot like “discipline.” Trust me, the rebel in me thought, “Hell, no. I’m not a military operation!” But I’ve started to realize that good habits aren’t asking for perfection. They’re just asking you to show up when and how you can.

    The truth is, some days, we don’t feel 100%. Maybe there’s only 25% in our tank. Say you had a late night binging some Netflix series that you couldn’t bring yourself to stop. Or you went to a friend’s birthday dinner, and the late-night conversation was too good to miss. Or you have a loved one in the hospital, and you’re mind is elsewhere. That’s life. Those are normal, sometimes even healthy, interruptions. Showing up to maintain your good habits means you do what you can consistently. That doesn’t mean always. It means regularly.

    Related: A ‘Quiet Promotion’ Will Cost You a Lot — Use This Expert’s 4-Step Strategy to Avoid It

    Practicing and prioritizing consistency

    When it comes to habits, we tend to overestimate the importance of a single action while we underestimate the importance of small, repetitive movements. If you had a piggy bank as a kid, then you know what I’m talking about. Every day, you drop a penny into the slot. One day, you put a dime in there. That’s awesome!

    But that doesn’t mean you need to put a dime in every day now for it to keep adding up. (It also doesn’t mean you should change your route to avoid seeing the piggy bank and, thus, feeling guilty.) Okay, guilty as charged…this is a gym metaphor. The point is that you just need to consistently be putting something in that piggy bank or calorie tracker. That’s what showing up is all about.

    How to show up…for yourself

    In an episode of her podcast How To Take Action, Sarah Arnold Hall says, “Doing something every day is actually easier than doing it once in a while.” Speaking from experience, I can confirm. Going to the gym five days a week feels way easier than going only two days a week. Gratitude journaling daily is easier and better for my mental health than doing it only when I feel like it.

    But just like flying a plane, there are times when I’ve experienced unexpected turbulence along the way. Flying conditions may not always be perfect. In those moments, I have to give myself grace. Touch down for a break. Refuel. Prioritize my vessel.

    When we establish a habit, taking a break doesn’t make it go away. Habits occupy a permanent place in our brains. Interruptions will happen, but our habits will still be there when we’re ready to pick them back up again.

    When we feel like it’s time to get back on the runway, all we need to do is look out the window, and voilà! When you show up, blue skies will return. Meaningful accomplishment takes time because it’s accumulative. It’s a process of learning from our mistakes, adjusting the path when something isn’t working, and figuring out what really matters. Over time, you’ll start to recognize the fruits of your habitual labors, and only then will you see just how far you’ve come.

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    Ginni Saraswati

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  • Why Long-Term Strategic Planning is the Lifeline For Your Business | Entrepreneur

    Why Long-Term Strategic Planning is the Lifeline For Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Business leaders have faced extraordinary challenges over the past several years. Pandemic-related demand changes, workflow shifts, persistent inflation and a tight labor market have left business leaders zigzagging through crisis after crisis. The pace has been unrelenting.

    But we risk getting swept away if we’re constantly hopping from one precarious rock to another across a fast-flowing river of challenges. We risk moving in inches, not miles. We stagnate. What’s worse, we can become enticed by taking the easy path of mirroring competitors’ strategies and being just another company that doesn’t stand out.

    Aspirations alone won’t cut it. For businesses to excel, it’s essential to be intentional in formulating short-, medium- and long-term plans. These blueprints will help future success.

    Related: The 5 Pillars of Thriving Teams and Extraordinary Workplace Cultures

    Step 1: Pinpoint your X-factor

    Every brand has its own X-factor — its unique value. What’s yours? Is it groundbreaking technology, a service that rivals none, or maybe unparalleled cost efficiency? Identifying this competitive edge isn’t just about self-awareness. It’s about amplifying this edge in everything you do. It’s what ensures you’re not just another player on the field, but one recognized, sought-after and admired.

    Finding your X-factor is not a top-down exercise. You might have identified your X-factor, but unless the wider team shares this view, you’re working against the tide. Engaging your team to align with this understanding is crucial. Remember, leadership isn’t about dictating direction but about cultivating a shared vision. You’ve missed the mark if the X-factor only resonates with the C-suite and not the broader team.

    To build an organization that’s resilient and progressive, every team member, from entry-level to senior executives, should have a say in the direction and future aspirations. When everyone sees where the ship is sailing and why, they not only paddle in rhythm but often faster and more efficiently. If it’s just senior leadership dictating the vision, the plan is destined to fail. On the other hand, a collective vision strengthens resolve, determination and commitment.

    If you’re struggling to find your special sauces, ask yourself a series of questions. Why are customers choosing you? What resources do you have or can you access that others cannot? Where is the market saturated, and where is the open lane? Knowing and using your strengths wisely is one of the most critical factors to business success.

    Related: 5 Proven Tips for Better Defining Your Business’ Unique Value Proposition

    Step 2: Chart the course with tangible milestones

    With your X-factor identified, the next challenge is progressing toward defined goals. The concept of OKRs, “Objectives and Key Results,” proves invaluable here. It’s about setting objectives, the motivation behind your goals and then determining specific Key Results to achieve them within a set timeframe. This methodology enables businesses to measure success more tangibly.

    For instance, if a substantial portion of your revenue comes from a single product, you’ll likely want to diversify your income stream to ensure stability. Using the OKR methodology, an objective could be to bolster economic security. A corresponding Key Result might involve boosting business from various products or sources, thus reducing dependency on a single one.

    This method isn’t complicated, but it requires a focused approach to the factors that truly drive a business’s growth and success.

    Step 3: Consider your plan at every major decision point

    A dirty little secret of the business world is that many strategic plans fade into obscurity. Employees generate them with enthusiasm. People are inspired. Then, the next crisis emerges, consuming leadership’s time and attention. By the time they survive one — another arises. All the while, the plan ends up collecting dust.

    Successful leaders have to keep multiple plates spinning. What’s more, when responding to an urgent issue, they do so with express reference to the goals and their OKRs. At Fennemore, we relentlessly focus on pursuing our plan’s vision and whether decisions support our broader objectives. Keeping your plan front and center will keep you and your team on course.

    Related: How to Achieve Long-Term Success by Slowing Down Your Business and Creating a Strategic Plan

    Step 4: Recalibrate along the way

    Just as no war plan survives the first contact with the enemy, no strategic business plan remains untouched by the realities of a shifting market. The global landscape is not static. External forces — from market dynamics and technological advancements to geopolitical shifts — can render tactics obsolete. Flexibility, therefore, is not just a value-add but a necessity. This doesn’t mean you deviate from your goals or abandon your X-factor.

    Instead, it’s about reassessing, recalibrating and tweaking the plan to ensure it remains relevant, effective, and aligned with your overarching objectives. Consistent check-ins and feedback loops internally within teams and externally with market trends will help your strategy evolve while remaining anchored to your business’s core purpose.

    Step 5: Embrace the power of resilience

    The journey of strategic planning isn’t a one-off event. It’s a continuous process, one that requires grit, determination and resilience. Challenges will arise, and crises will interrupt, but with a clear strategic direction, such obstacles become surmountable. And here’s the beauty of resilience: it’s contagious. When leadership showcases determination in the face of adversity, it trickles down, motivating every echelon of the organization. By fostering a culture of resilience and tying it directly to your long-term strategic planning, your business can navigate the crises of the day and be better prepared for any that may arise in the future.

    Related: 5 Ways to Adapt to Change and Build a More Resilient Business Model

    Stop winging it

    In today’s world, winging it won’t work. Businesses are complicated, and leaders need to adapt to new challenges constantly. Every decision requires thought, strategy and an honest assessment of where your organization is and needs to go.

    If you already have a long-term plan, it’s time to refine, recalibrate and set bolder metrics. If not, the journey of crafting one should start today.

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    James Goodnow

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  • America’s Downtowns Are Hurting in an Era of Remote and Hybrid Work — Will They Survive? | Entrepreneur

    America’s Downtowns Are Hurting in an Era of Remote and Hybrid Work — Will They Survive? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Downtown areas have long been the beating heart of cities, bustling with activity and serving as economic hubs. However, the recent data from the 2023 INRIX “Return to Office” report reveals a concerning trend: 18 out of 20 downtowns in the U.S. are still experiencing fewer vehicular trips compared to pre-Covid levels. This decline has far-reaching consequences, impacting various facets of urban life.

    The decline is not uniform across cities. New York, the most job-dense downtown in the U.S., has shown resilience, with vehicular trips just 5% below pre-Covid levels. In contrast, San Francisco, the second-most employment-dense downtown, remains a staggering 41% below 2019 levels of traffic.

    A McKinsey report adds another layer: Office attendance has stabilized at 30% below pre-pandemic norms, thereby compounding the reduction in downtown traffic. Additionally, McKinsey’s data reveals that from mid-2020 to mid-2022, New York City’s urban core lost 5% of its population, while San Francisco’s lost 6%. This urban exodus has led to decreased foot traffic near stores in these metropolitan areas, remaining 10% to 20% below pre-pandemic levels. These two cities illustrate the complex dynamics at play, with local factors contributing to the varying rates of recovery.

    Overall, cities like Washington, D.C., Chicago, Seattle and San Francisco have shown the least growth. The stalled growth suggests that other local factors, such as education level, racial demographics, broadband access and local culture, maybe influencing telecommuting rates.

    Related: 45% of Millennials Now Have Plans to Buy a Home in Suburbia — and It Has Everything to Do With This Work Policy

    The impact of industry and location

    The convenience and flexibility offered by telecommuting have made it an attractive option for both employers and employees in certain industries. For example, the INRIX report finds that nearly 40% of employees in information, finance, and professional services (IFPS) are working from home nationwide.

    Yet telecommuting rates also vary widely across locations. In San Francisco, 64% of IFPS workers reported telecommuting, while in Houston, just 28% did. That suggests a clear impact of local culture, not simply industry dynamics.

    The significant decline in office attendance, particularly in superstar cities, forces a reevaluation of business real estate strategies. McKinsey’s report suggests that by 2030, the demand for office space could be 13% lower than it was in 2019 in a moderate scenario and up to 38% lower in the most severely impacted city. In this environment of reduced demand and potential oversupply, business leaders have the opportunity to negotiate more favorable lease terms or even consider relocating to prime but previously unaffordable locations.

    Downtown trips: Down and out?

    The reduction in downtown trips has had a direct and profound impact on local businesses, particularly those reliant on foot traffic. Restaurants, retail stores and hospitality services have suffered, leading to closures and financial strain. The real estate market has also felt the pinch, with headlines like “Owners are Walking Away from Downtown S.F. Buildings” highlighting the financial crisis faced by property owners.

    A vibrant downtown contributes significantly to local tax revenue. According to the International Downtown Association, downtowns deliver an average of 17% of citywide property tax revenue, 43% of hotel tax revenue, and 12% of sales tax revenue. The decline in downtown activity has led to a loss in these revenues, potentially leading to public budget cuts and negative implications for key government programs.

    Beyond the economic ramifications, the decline of downtown has a psychological impact on city residents. The once lively and energetic centers have become quieter, losing their vibrancy and appeal. This shift affects the perception of the city and can have long-term effects on community engagement and urban identity.

    The commuting conundrum

    The decline of downtown areas due to the rise of telecommuting presents a complex challenge that cannot be solved by simply forcing people back into the office. As I often emphasize to my clients in city governments, this approach is not only impractical but also fraught with negative consequences.

    Forcing employees to commute to the office can have a direct impact on their wellbeing. Long commutes are often associated with increased stress, fatigue, and dissatisfaction. The time spent in traffic or on crowded public transportation can lead to a decrease in overall life satisfaction and even contribute to mental health issues. The personal toll this takes on individuals cannot be underestimated.

    The environmental impact of increased commuting is another critical factor to consider. More cars on the road mean more emissions, contributing to air pollution and climate change. Encouraging telecommuting can be seen as an environmentally responsible choice, aligning with broader goals of sustainability and reducing carbon footprints.

    The economic argument against forcing people back to the office is equally compelling. Time spent commuting is time lost from productive work. The hours that employees spend stuck in traffic or waiting for public transportation could be better utilized, contributing to the economy. Furthermore, the cost of commuting, including fuel, vehicle maintenance, and public transportation fees, can be a significant burden on workers, reducing their disposable income and potentially impacting consumer spending.

    While the struggles of downtown areas are real and concerning, the solution is not as simple as mandating office attendance. A more nuanced and balanced approach is needed, one that takes into account the multifaceted impacts of commuting.

    City governments, in collaboration with businesses, can explore innovative solutions that encourage a healthy balance between remote and in-office work. This might include investing in public transportation to make commuting more efficient and less stressful, creating incentives for businesses to offer flexible work arrangements, and supporting the development of local amenities that make downtown areas more attractive places to work and live.

    Related: ‘Never Going Back to the Way It Was’: Salesforce CEO Marc Benioff Has a Grim Outlook on a Once Bustling Downtown

    Conclusion: A future in flux

    The remote revolution has reshaped the landscape of downtown areas, with telecommuting playing a pivotal role in the decline of vehicular trips. While some cities like New York have shown resilience, others continue to struggle with recovery. The future of downtowns is in flux, with telecommuting continuing to be a massive force in keeping both vehicular and transit trips down.

    The challenge now lies in finding a balance that allows for the vibrancy and economic vitality of downtowns to thrive while embracing the new normal of remote work. The road to recovery may be long, but with innovation, collaboration, and a keen understanding of the multifaceted influences on downtown travel patterns, cities can forge a path toward a prosperous future.

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    Gleb Tsipursky

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  • How Online Payment Systems Can Take Your Business to the Next Level | Entrepreneur

    How Online Payment Systems Can Take Your Business to the Next Level | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When we first started Vagaro, companies primarily relied on cash or checks as their main form of payment methods. Credit card technology was still in its early stages of adoption back then, and both customers and businesses were just starting to familiarize themselves with and trust this new form of payment.

    Fast forward to today. Now, preferring cash or check is less popular. The script has flipped — we have a world where instead of saying, “We don’t take credit cards, please pay in cash,” companies are saying, “We don’t take cash, please pay by credit card.”

    There’s a reason for this shift. The integration of online payment systems has unlocked considerable advantages for businesses, all while improving the overall experience for buyers.

    Related: How to Select the Right Payment Gateway and Payment Processor for Your Ecommerce Business

    The key to convenience and expanded sales

    When I created Vagaro, I envisioned a comprehensive, one-stop shop for our customers. To create that seamless customer experience, we were working on incorporating online booking into our solution. But as I spoke with my sister-in-law, a hairdresser and a big source of industry insight for the company when getting started, about my plans, she posed an important question:

    “What about credit card processing?”

    Integrating this feature into the platform made sense, but I knew nothing about how credit card processing worked. And when I started to call around, everybody talked about it in complicated terminology.

    Most people today are in the same boat I was in. They don’t understand how a hairdresser or other independent business, as well as credit card companies like Visa or Mastercard, each claim a portion of a customer’s payment. But they still want the convenience of payment integration.

    From the customer’s perspective, few people are carrying around cash or multiple forms of payment options. In today’s fast-paced world, consumers prefer processing transactions quickly, paying in advance and tracking their spending all in one place.

    Online payment integration makes transactions easier for businesses, too. They can sell more products or services more efficiently, including memberships, packages and gift certificates. They can accept deposits to reduce lost revenue from appointment cancellations and no-shows. And when payments are accepted on the same platform as booking, a company can know the profile of the customer, such as the services they book the most or products they tend to gravitate toward. This directly ties into marketing and upselling opportunities. If a company wants to send a VIP discount, they can do that if they know a customer’s profile and how/where they’re spending.

    Similarly, a company offering a product to a business, in most cases, will need to collect payments — the product should ideally include features to facilitate this process. As the marketplace shifts priorities to offering a smooth and comprehensive customer experience, payment integrations are now considered a necessity, and the trend toward becoming a one-stop shop is gaining momentum.

    Related: The Unspoken Financial Cost of Slow Payment Options

    More tip money, less awkwardness

    Looking strictly at the financial side, there’s a lot of money to be made from payment integration. It goes beyond simply expanding the variety of products sold; credit card transactions tend to yield higher tips, too.

    Imagine getting a haircut. If the customer is forced to pay in cash, that limits the amount they can tip based on how much money they have on them. However, with online payment processing in place, customers are able to tip as generously as they like. And if the business presents tip options — say, 15, 20 and 25 percent — the customer doesn’t have to try and calculate the tip in their head. It’s easier to click on the percentage and send it off without thinking about it.

    Online payment integrations can also remove awkward conversations that often happen around tips. When a hairdresser or other provider shows a tip prompt on the screen, it gives the customer a natural opportunity to tip. The provider doesn’t have to say, “Oh! And don’t forget the tip!” the way they might if the customer paid in cash.

    Additionally, online payment integration can make your solution a lot stickier — a product that generates revenue for its users becomes indispensable. If a company wants to increase dependency on its product and reduce churn, efforts should be focused on offering a solution or service that streamlines increased revenue.

    Related: 6 Hidden Ways That Paying by Check Is Hurting Your Business

    Setting up a payment integration partnership

    When a business wants to partner with another organization for online payment integration, they should prioritize seeking common core elements, just as they would with any partnership: Both companies should have similar philosophies of operation, stages of technology development and understanding of buyer demands.

    But another point to check is the contract length. Businesses should make sure that, for a long-term contract, there is a sliding scale — as the company processes more transactions, the costs should go down. If a sliding scale arrangement isn’t possible, companies should opt for a short-term contract so that as they evolve and their processing volume increases, they can pivot and move to another provider with more favorable terms if needed.

    The real winners are the customers

    Online payment integrations have the power to significantly boost a company’s earnings. However, the ultimate winners are the customers making purchases. With enhanced convenience, they can buy more of what they want or need without worrying about the form of payment or how the transaction process will work.

    The buyer expectation now includes the availability of online payment options, and your competitors likely offer those options already. To stay ahead in the market and meet customer demands, integrate a way for buyers to complete credit card transactions, be a part of the money-making service and continue improving the integration once it’s in place.

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    Fady

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  • Santander revamps corporate structure to simplify operations

    Santander revamps corporate structure to simplify operations

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    Banco Santander CEO Hector Grisi wants to simplify the company so it can reach its profitability targets. His overhaul plans will likely reduce management layers and may lead to some job cuts, people familiar with the matter say.

    Paul Hanna/Photographer: Paul Hanna/Bloombe

    Banco Santander overhauled its corporate structure as Chief Executive Officer Hector Grisi seeks to simplify the company’s operations.

    As part of the changes, the Spanish bank is combining individual countries’ retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora, Santander said in a statement late Monday. 

    The moves are aimed at simplifying the business and helping the company reach profitability targets. They will likely reduce management layers and may lead to some job cuts, people familiar with the matter said, asking not to be identified discussing nonpublic information.

    The new management structure will result in five units: retail and commercial, digital consumer bank, payments, wealth management and insurance as well as corporate and investment banking.

    The Spanish bank last year named Grisi, who had been running the Mexico business, as the company’s chief executive officer, a role he took on at the start of 2023. A string of hires and management changes followed, including the exit of Antonio Simoes, who had been head of Europe and was seen as a possible CEO candidate. The bank in April hired Christiana Riley, a longtime Deutsche Bank AG executive, as head of its North American and Mexican operations, starting Oct. 1. 

    An expansion into U.S. investment banking is also in the works, tapping several new hires from the ranks of Credit Suisse.

    Santander will align the way it reports financial results to the new model starting in January 2024, with the five global businesses becoming the new primary segments for the group, while country- and region-specific data will become secondary segments, it said.

    Santander’s revamp closely resembles a plan announced last week by Citigroup CEO Jane Fraser. In that company’s biggest restructuring in two decades, Fraser reorganized the firm into five main business and eliminated regional chiefs who oversee operations in about 160 countries. The changes will involve a number of job cuts in Citigroup’s back-office functions.

    Santander adopted a regional approach to managing its business in 2019, and a year later rolled out a ‘One Santander’ strategy, to which chairman Ana Botin often refers. That strategy was aimed at increasing connectivity, the company says on its website.

    With businesses from Spain to the United Kingdom, Brazil and the United States, Banco Santander is one of the largest retail banks in the world. It has about 212,000 employees and a market capitalization of 55.7 billion euros ($59.5 billion). Botin has been executive chairman of the lender since her father died in 2014.

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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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  • The Key to Building Unshakeable Customer Relationships | Entrepreneur

    The Key to Building Unshakeable Customer Relationships | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Hey entrepreneurs! You’re doing everything by the book. You’ve got your CRM software, email newsletters and 24/7 customer support, and yet, you’re not seeing that extraordinary spike in customer loyalty. Ever wondered why?

    Let me tell you: Your customers have evolved. They’re not just seeking a transaction; they’re seeking an experience — the kind of experience that transforms them from mere window shoppers to lifetime brand advocates. It’s time to move beyond basic customer service and learn to capitalize on micro-moment magic.

    Related: 3 Best Practices for Build Lasting Customer Relationships

    Defining micro-moments in the customer experience spectrum

    Micro-moments are those fleeting yet powerful instances where your customers engage with your brand spontaneously. It could be when they swipe through your Instagram story, spot your product on a friend’s feed or step into your retail location “just to browse.”

    But here’s the kicker: These seemingly trivial moments often hold the key to impactful customer relationships. During these micro-moments, you can swing the decision pendulum in your favor. Don’t let them pass you by.

    The alchemy of impactful micro-moments

    1. Leverage emotional triggers

    You’ve got split-seconds to make an impression. Use emotional cues to hit that sweet spot. The customer should feel something — the thrill of a flash sale or the comfort of knowing your product is eco-friendly and sustainably made. When you tap into the emotional resonance, you instantly make the micro-moment memorable.

    2. Dynamic personalization is your wand

    Personalization isn’t a novel concept, but let’s crank it up a notch. Dynamic personalization goes beyond just knowing the customer’s first name. It means offering product recommendations based on browsing history, nudging them with location-based offers or even altering your website layout in real-time according to user behavior. When customers feel like the universe (or your brand) is talking directly to them, magic happens.

    3. Encourage social validation

    Now, this is where the rubber meets the road. During the micro-moments, your potential customers are likely checking reviews, asking friends or even looking at how many followers you have. Make sure you have compelling social proof in place. The power of a peer recommendation is gold — leverage it.

    4. Be predictively proactive

    How about surprising your customers before they even know what they need? With machine learning algorithms, you can analyze behavior patterns and be ready to offer solutions even before the customer identifies the problem. Talk about being a psychic!

    5. Navigating the pitfalls — what not to do

    While the scope for making a lasting impression during micro-moments is astronomical, there are also pitfalls you must avoid like the plague. Overwhelming your customer with too many options, invasive marketing and slow page load times can break the spell faster than you can say “customer churn.”

    6. The ROI of investing in micro-moments

    Let’s get real — investing time and resources to orchestrate perfect micro-moments is not just a flight of fancy but a business imperative. The ROI is real, and it’s massive. Customers who have been wooed successfully through micro-moments are far more likely to become repeat customers and enthusiastic brand advocates. These people will spread the word, create user-generated content and boost your brand’s credibility.

    Related: 7 Amazing Ways to Build Long-Term Relationships With Your Customers

    The future of micro-moments: The unexplored frontier

    Don’t think for a second that the micro-moment wave has peaked. As technology advances, so do opportunities for crafting even more meaningful and immersive micro-moments. Think augmented reality, think virtual reality, think Internet of Things. The possibilities are endless, and the future looks brighter than ever for businesses willing to walk this thrilling path. Here is what you need to know.

    1. Data-driven decision-making

    You’re a visionary, but let’s bring some science to that art of yours. You can’t capitalize on micro-moments without relying on some hardcore data. Big Data and analytics tools can be your guiding star in this labyrinth of customer touchpoints. With proper analytics, you can identify when these micro-moments are most likely to occur and prepare to deliver a curated experience. Imagine knowing precisely when your customer usually browses your website or at what point in the video they’re likely to click through. Knowledge isn’t just power; it’s profit.

    2. Uninterrupted user experience

    While you’re busy orchestrating these exquisite micro-moments, don’t forget the broader setting: the overall user experience (UX). Your website or app should be so fluid and intuitive that it paves the way for these micro-moments to shine. Even minor glitches or delays can disrupt the magic. For example, if your app crashes during a “swipe up to buy” moment, you have lost a sale and a chunk of customer trust that’s tough to regain. Your UX is the stage, the lighting and the background score to your magical show — make sure it’s flawless.

    3. A seamless omnichannel strategy

    We’re living in a digital omniverse. Your customer might start their journey on Instagram, move to your website to browse and finally purchase on your mobile app. This isn’t just multi-channel, my friends; this is omnichannel — a continuous, consistent experience across all platforms. In this interconnected world, your micro-moments must transcend individual platforms and weave into a seamless narrative. For instance, a coupon code discovered during an Instagram scrolling session should be easily applicable on your main website or app. If you create this omnichannel symphony, brace yourself for standing ovations and encores.

    4. Customer-centricity is your North Star

    As we navigate the increasingly complex maze of customer engagement, remember that your true north is customer-centricity. Everything you do, every micro-moment you create, should come from a place of genuine customer empathy. This isn’t just a business tactic; it’s a philosophy. It’s about recognizing that behind every click, swipe or tap is a human being with specific needs, desires and emotions. Master the art of mirroring these sentiments in those fleeting moments, and you won’t just win customers — you’ll win hearts.

    Related: 5 Actionable Ways to Improve Your Customer Experience

    Wrapping up: Your playbook for seizing micro-moments

    By now, I hope you’re buzzing with ideas and itching to put this knowledge into action. Remember, in the grand scheme of your customer relationship ecosystem, micro-moments are the unsung heroes. Overlook them, and you’re leaving money and loyalty on the table.

    It’s time to shatter the glass ceiling of traditional customer relationship management and seize these moments of pure, unadulterated customer engagement. Because, my fellow entrepreneurs, in the digital age, the true currency is not just money; it’s engagement, relationships and trust.

    So, are you ready to master the art of the micro-moment? Your success story is just one “moment” away.

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    Chris Kille

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  • 5 Small Gestures To Make Your Employees Feel Appreciated | Entrepreneur

    5 Small Gestures To Make Your Employees Feel Appreciated | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As a business owner, you’re probably wondering what you can be doing to retain your best people, particularly in today’s tight labor market.

    Having a happy workforce is a surefire way to avoid employee turnover and produce a team that is highly productive. Positive relationships at work between the employee and employer are well worth the time and effort.

    Here are five ways you can make your employees feel valued and respected.

    1. Say happy birthday with a gift

    More than nine out of 10 workers surveyed in a new study said that receiving birthday gifts makes them feel valued and loved; employers who give birthday gifts to workers have higher company morale and employee retention rates.

    Acknowledging an employee’s birthday with an announcement, email or a card is appreciated, but let’s not deceive ourselves — people like gifts. So much so that, according to the survey, workers prefer that either their company or their boss spend an average of around $60 on a gift for them.

    Related: Tele-Mental Health in the Workplace is Crucial to Employee Morale

    2. Acknowledge milestones

    Remembering an employee’s milestone – such as their work anniversary – is also very important. Payroll company ADP reports that people switching jobs currently receive about a 10% pay bump, which is almost twice the typical salary increase offered to employees who remain at their jobs.

    Of course, you should be paying your employees enough to keep up with inflation. But almost as important is recognizing loyalty. Sticking at a job for two, three or even five years is a big deal nowadays. Make sure everyone knows how much you care about that.

    3. Offer regular rewards

    Good management regularly rewards their people for doing a good job. Rewards platforms like Bonusly, Awardco, Worktango and Motivosity have all proven to be effective, and all of these applications work in a similar manner.

    Employees start a period with a points balance and are required to award these points to their colleagues based on a job well done. This way, not only managers participate; others on a team can show their appreciation to their coworkers. The points can then be exchanged at the end of a period for a myriad of benefits, including cash, paid time off, gift cards, company bling or a charitable contribution.

    Acknowledging your staff’s accomplishments with a small reward can go a long way and help improve morale and retention.

    Related: 5 Easy Things You Can Do to Boost Company Morale

    4. Make a contribution to their favorite charity

    Americans are among the most charitable people in the world, and I’m betting that most of your employees are involved in some sort of charity or non-profit organization.

    Showing your generosity is a great way to tell your employees that you care about the things that they care about. Offer a matching program or volunteer your staff and resources to support charities and nonprofits. Management can also set up a system where they exchange vacation with their employees for a charitable contribution.

    Related: Your Company’s Biggest Threat Is Already Infiltrating Your Team

    5. Spend time with your team

    Making charitable contributions and giving out cash, gifts and other perks is certainly appreciated, but there’s one thing that I’ve found is appreciated the most by employees – the boss’s time.

    One of the biggest advantages of working for a small business is that employees can really feel like they’re making a difference. Unlike being at a large corporation, people at smaller companies can be part of a team where their opinions and their actions have a much greater impact on the overall success of an organization. And because there are fewer layers to the organization, they also have better access to the boss. That’s a huge perk that we often don’t appreciate.

    If you’re not a big fan of celebrating birthdays and anniversaries or implementing a rewards system, try this: Spend more time with your people. Walk around the office. Chat. Invite people to lunch. Show up at a happy hour. Take an interest in their families. Talk about sports, television, Barbie or their last vacation.

    Above all, engage. You don’t have to get too personal or look within the soul of a person. You don’t have to be their mom or dad. But you can be a positive role model and a supporter. People appreciate a good boss. We look for mentors. We are humans and want to connect. We feel more loyalty and a greater connection to those that we spend time with, and the better and more positive your personal relationship is with your workers, the harder you’ll make it for them to leave you.

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    Gene Marks

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  • Companies Are Deprioritizing DEI. Why They Shouldn’t and How to Recommit. | Entrepreneur

    Companies Are Deprioritizing DEI. Why They Shouldn’t and How to Recommit. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Just because the naysayers have been amplified doesn’t mean DEI (diversity, equity and inclusion) is dead or should be abandoned. In fact, now is the time to turn up the volume on what’s been going well in our DEI efforts.

    In 2022, 81% of companies polled reported that having DEI initiatives was beneficial to their organizations. The same survey showed 94% of the companies were investing more in mental health resources, 70% were improving equity in parental leave, and 48% had at least one employee resource group (ERG) often centered on racial, ethnic and gender minorities.

    How did all of the progress we made in 2022 become deprioritized in 2023? Shifting public opinion on DEI and a larger discussion on whether DEI is bringing people closer together or further apart. For DEI professionals, executives and everyone in between, consider recommitting to DEI and transforming the narrative from a story of division to a story of inclusion.

    If you or those in your business are losing stamina in your DEI efforts, here’s how to recommit to the work and continue making strides.

    Related: Supreme Court Rules Against Affirmative Action at Harvard and UNC

    Understand that DEI is not a trend

    After the murder of George Floyd in 2020, it seemed like the business world had a fire lit underneath it. The drive and energy to promote DEI at all levels of the organization was a priority that couldn’t wait. Now, the fire has fizzled and the commitment to equity in the workplace seems to have faded into a trend. If business owners have lost the fire for DEI that was ignited within them in 2020, it’s worth exploring why.

    In this work, there is no “season” for equity and inclusion. If we’re truly committed, we don’t fluctuate between wanting to improve diversity and belonging and taking a year off when it no longer feels relevant. Cultivating DEI is a long-game strategy that helps businesses navigate changes in their company culture and employee makeup — whether it’s a good or bad year. It takes consistent action even when no one else is watching.

    Let’s reignite that fire and bring DEI back onto the priority list.

    Dig deep into your DEI ‘why’

    Why did your company start working on DEI in the first place? Was it sparked by an individual or group needing more support or belonging? Were stakeholders interested in the company’s DEI efforts and seeking proof of action? Was the CEO of the company driving the changes in order to cultivate long-lasting diversity and inclusion in the workplace?

    It’s important to be mindful of your company’s original intent and rationale. Take stock of all the progress the company has made so far and where the next steps were heading. Re-engage with those who originally proposed DEI projects and initiatives, and start conversations about how those ideas can be reimagined or reignited.

    Discuss as a company how DEI can be revived in 2023 and beyond to set your company up for success. Don’t let progress sit in a drawer next to last year’s tax filings. Reignite the “why” and recommit to the journey of DEI — for those in the company who need it now and for those who have yet to arrive.

    Related: 4 Ways Inclusive Leaders Can Respond to the Weaponizing of DEI

    Get creative and dream bigger on your DEI initiatives

    While 2020 felt like DEI crisis mode, maybe 2023 and 2024 can inspire DEI initiatives that are forward-thinking and proactive. Innovation and creativity don’t happen in a vacuum. They require leaders and changemakers to listen to their staff and dedicate time to creating solutions.

    How can the to-do list of the past be reimagined for the future?

    What new initiatives can support a more diverse workforce and meet anticipated company needs?

    In economic terms, when there’s a financial downturn or a pressing revenue issue in the company, people roll up their sleeves and figure it out. Even if they have no idea what they’re doing, the commitment to move past barriers and find solutions drives them toward progress.

    Unfortunately, I don’t see the same commitment when it comes to DEI. Whenever there’s a crisis in the company — mass layoffs, financial decline, company culture change — executives and others put their heads down and get to work on solutions. So why not create that same level of urgency with DEI? Now is the time to do so.

    Related: Here’s How to Have the Most Powerful DEI Conversations

    DEI 2.0

    When companies have thrown in the towel and completely given up on their DEI initiatives after public support has softened, how do we reignite the fire to stay committed to DEI?

    Simple: We remember this is a marathon, not a sprint, and we get right back on track.

    We need to cultivate DEI 2.0. Initiatives and strategies that don’t simply react to issues as they occur but are proactively preventing DEI disasters in the future. Let’s think about how we can evolve the current state of the workplace and set the foundation for inclusion, diversity and belonging in the long run.

    For those restarting these conversations, my advice is to not be afraid to go there — to the heart of the DEI fatigue, to the waning of commitment to inclusion, and to the deprioritization of the work.

    Offer your time and energy to come up with creative solutions that will guide your organization into the future. Be the voice of change that those who have let go of DEI need to hear. With renewed focus and commitment, we can continue to advance DEI in the workplace — even when segments of society declare that it’s not a priority.

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    Nika White

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  • How Small Businesses Can Leverage AI to Compete With Large Companies | Entrepreneur

    How Small Businesses Can Leverage AI to Compete With Large Companies | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a growing digital landscape, artificial intelligence (AI) is no longer the sole domain of large companies. In a poll by Vistage involving 1,467 leaders of small and mid-sized businesses, 13.6% indicated they are presently using AI in their operations. Specifically, 6.9% are applying it to business functions and 6.1% for client interactions. Close to a third, or 29.5% of those surveyed, believe that AI will soon be among the most impactful technologies.

    Referring to a study by Deloitte and Stanford University, Spectrum Business says that one in four small businesses is using AI to perform various business functions.

    As demonstrated by these numbers, the ground is set for small and mid-sized businesses to embrace the AI revolution and tap into never-seen-before opportunities to compete equitably with larger organizations. They are well-equipped with the necessary resources and capabilities to use the latest AI technologies to their advantage. Here are several ways small and mid-sized businesses can leverage AI to keep up with the competition:

    Related: How AI Is Revolutionizing Small Businesses

    1. Concept validation

    Small businesses can seek help from AI to examine market dynamics, customer input and historical data to confirm the viability of new concepts. AI can forecast the potential for success based on trends, insights and forecasts.

    2. Brand ideation

    The strength of a business brand has the power to transform customer perception into lasting loyalty, turning everyday interactions into lifelong partnerships. Small businesses can use AI to scrutinize brand values, customer sentiment and industry trends to spark inventive brand concepts that resonate with the target audience. Machine learning can analyze public sentiment towards various brand elements, enabling fine-tuning in real time.

    3. Documentation management

    There are few better tools than AI to rationalize documentation processes that are usually resource- and labor-intensive. AI can propose templates, generate reports and automate routine tasks that are intrinsic to documentation management.

    4. Customer service

    Chatbots can intelligently handle a variety of tasks including answering queries, booking appointments and assisting with purchases. And the best thing is that they can do all this 24/7. This not only frees up human resources but also provides timely service to customers.

    5. Marketing personalization

    AI algorithms can analyze consumer behavior and provide actionable insights that are fairly accurate. This allows small businesses to tailor their marketing efforts and reach their target customers without having to spend a lot of money. In addition, AI can take stock of consumer feedback to suggest refinements or enhancements to existing product and/or service offerings.

    6. Cost-effective advertising

    AI enables small to mid-sized businesses to optimize advertising costs in several ways. By analyzing data, AI helps pinpoint specific target audiences and their behaviors. This allows businesses to utilize their advertising budget more effectively. AI also adapts content dynamically based on user engagement and identifies optimal times and platforms for ad placement, ensuring that each dollar spent yields maximum impact.

    7. Inventory management

    AI can predict stock needs based on historical data, ensuring that your business neither runs out of inventory nor wastes resources on excess stock. This could also result in substantial savings on warehouse expenses.

    Related: How Small Businesses Can Leverage AI to Battle Bigger Competitors

    8. Process automation

    From onboarding employees to managing invoices, AI can handle repetitive tasks, reducing operational costs and human errors. Automated workflows can save up to 20 hours per week for an employee.

    9. Operational enhancement

    AI can assess current workflows, identify operational bottlenecks and propose enhancements. Machine learning algorithms can refine procedures by learning from data and getting better at learning.

    10. Advanced analytics

    Real-time data analytics powered by AI can offer valuable insights on performance and user engagement, helping small businesses make informed decisions quickly and in a cost-effective way. These analytics can also help companies pivot their strategies over the medium to long term.

    11. Competitive pricing

    AI can set and track dynamic pricing models that are based on various factors such as demand and availability, market conditions, competitor activities and even weather forecasts. This ensures that small and mid-sized businesses can develop and maintain a competitive pricing strategy.

    12. Business rationale and exemplars

    AI can help build persuasive business rationales and create illustrative case studies that underscore the value of a company’s products or services. This could help draw investors’ attention and infuse much-needed capital for future growth.

    13. Adjacent service exploration

    Small and mid-sized businesses can leverage AI to dive deep on market data, uncovering potential adjacent services that align with their business objectives and customer requirements. This enables companies to expand into new market segments with minimal risk.

    Related: How To Use Artificial Intelligence To Boost Your Small Business

    AI offers an opportunity for small and mid-sized businesses to level the playing field. By adopting AI technologies, not only can these companies automate mundane tasks, but they can also delve into advanced analytics and offer highly personalized experiences to customers — things that were previously only within reach for large corporations.

    Do you know any other ways AI can help small to mid-sized businesses? I would love to learn!

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    Nish Parikh

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  • 4 Ways to Overcome Your Doubts When Healing From Divorce | Entrepreneur

    4 Ways to Overcome Your Doubts When Healing From Divorce | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Doubt can be a nasty little nudge or catapult one into despair during and after a divorce. If you ask any divorced person whether they ever doubted their decision to get divorced, many will say yes. Why do we have doubts about divorce after making one of the most impactful decisions of our lives, and what’s the best way to deal with it so that we can continue on the healing journey and not get pulled down into a well of negativity?

    When going through my own divorce healing journey, I coined the terms “Hiccup Effect” and “Reverse Hiccups.” The Hiccup Effect means feeling doubtful about the divorce and often is realized after the divorce has been finalized. Because there are so many emotions associated with the death of a marriage, it is natural to have doubts, so the first thing to realize when you have the “hiccups” is that it is normal to experience the feelings. Remember that while feelings can be painful or even devastating, they are usually temporary and will resolve with self-work through the healing process.

    Related: 7 Ways to Rebuild Your Financial Life Post-Divorce

    Hiccups

    “Hiccups” are usually caused by fear or loneliness, even when you know in your heart that the decision to divorce was soundly made; in other words, when you thoroughly contemplated the divorce and knew it was the “right” thing to do to live your best and highest life. These feelings need to be explored when experiencing “hiccups” to determine the next steps, and professional help is a great place to start if one doesn’t know how to explore feeling origins and learn how to get past them.

    “Hiccups” are often experienced during difficult times, such as when one gets sick or needs help in some way – and the spouse is no longer there to comfort, take care of you or ease a burden. It is important to be mindful that these feelings are the body’s and soul’s way of “shedding” – getting rid of people and things that no longer serve us. Recognize the feelings, sit with them, explore their origins, and let them go. You can try some physical release exercises to help, but if you feel you are slipping into a victim mindset or worse (becoming depressed, not wanting to go out or eat or sleep, abusing substances, etc.), please seek professional help.

    Related: 5 Ways to Overcome Self-Doubt as an Entrepreneur

    Reverse hiccups

    “Reverse Hiccups” are when the former spouse has “hiccups” dealing with their new existence outside of the marriage and projects their challenges onto you, which can affect your healing process. Their feelings might be conveyed by calling, texting, emailing, running into each other or even something that is said to the children (which should NEVER be done, by the way – keep them entirely out of how you feel about the former spouse and only speak well of their other parent so they too can heal).

    The other spouse may use blaming, shaming, and even attempted manipulation as coping mechanisms to bring you down, too, so it is essential not to react. You may need to step back before responding and even set some boundaries. If you are subject to reverse hiccups, realize first that, like you, the former spouse is transitioning as well, and their feelings are valid.

    Four tips to help you get through hiccups

    Some people may experience the Hiccup Effect and realize that they did make a mistake in getting a divorce — and this is what doing intense personal work is all about. Divorce should never be taken lightly, as a marriage takes hard work and needs attention to survive and thrive. It is imperative to see if the relationship can be healed before jumping into the divorce process, as with anything that involves an extensive choice.

    But if the divorce is past and the feelings of doubt are strong, it is necessary to work on the self first to determine whether the doubt is genuine or comes from some other emotion, like fear – and many fears can materialize upon divorce. Professional help may be required to discover the origin of the feelings before approaching the former spouse to dive into whether they feel the same, and to plan where to go from there.

    Here are some tips to help you get through “hiccups:”

    1. Write down your feelings

    Include what you feel needs to be let go. Make sure to focus on what you have and express gratitude. For example, if you feel lonely having someone to share what had been a tough day, instead focus on your bravery for leaving an unhappy marriage and how it allows you to create a new life in which you will find joy.

    Related: How to Purge the Toxic Emotions in Yourself to Facilitate Healing

    2. Physical release exercises

    Imagine you are throwing any negative feelings away, out of your system. You can take your hands behind your head, imagine the feeling you want to release and then throw your hands over your head and expunge them. Repeat as many times as needed, and do it for each successive feeling.

    You can also do a physical release by writing your feelings down on paper and sending them off somehow (burying them, crumbling and throwing them away, etc.).

    3. Reach out to your support network

    Those who love and support you can help you cheer up, especially with laughter. It is imperative to make sure that the people who are part of this network are the “right” people – those who love and support you and, most importantly, allow you to make your own choices. It is possible for those who love you to try and steer you into a specific direction, telling you what you should or should not do – these are not truly supportive people and may need to be let go.

    If you do not have the right people in your network, you can do a few things: sign up for classes, events or groups that do things that interest you. The people you meet there will likely share your passion. So take a dance or martial arts class, participate in a group sport, join a beach cleanup or volunteer group, learn how to sail/ski/surf or speak another language — whatever sounds fun so long as you get OUT of the house to do it.

    You can also join one of the many divorce support groups you will find live and online – but the caveat here is to make sure they do not allow negative commentary such as former spouse-bashing: stay away from anything negative that might bring your spirits down and stall your healing process.

    4. Move your body

    Exercise, walk, do yoga, etc. These good-for-us actions release endorphins and help us to feel better naturally. Try to do this both alone and with others. It is good to have alone time when you are healing, especially in nature, as it allows us to think, experience feelings and recognize how strong we are in being alone.

    It is also great to move your body with others, and it will make you feel good to take a walk or kayak around the lake with a friend or loved one. If you don’t have anyone with whom to do this join a group where you will meet others who are interested in the same fun ways to move the body – or pick something you can learn that sounds fun.

    Taking the steps to heal and committing to focus on the self after divorce is necessary. Remember that it is natural to question choices, especially when they are game-changers! Getting past the “hiccups” makes moving forward and recovering from divorce easier – and more fun!

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    Rachel S. Ruby

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