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Tag: Growth Strategies

  • The Best Mom & Pop Travel Experiences in the U.S. | Entrepreneur

    The Best Mom & Pop Travel Experiences in the U.S. | Entrepreneur

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    Entrepreneur asked Yelp to dig into its data, to reveal which ones America loved the most. Together we created America’s Favorite Mom & Pop Shops, a list of 150 local, independently owned and operated businesses across 10 categories — including, yes, hotels, B&Bs, and travel.

    To see every category, as well as the methodology behind the list, click here. Below are the 15 companies included in the hotel, B&Bs, and travel category.

    Note: Some businesses may have multiple locations. Only one location is listed for each.

    1. The Vine House Bed & Breakfast

    Temecula, CA

    Company website | Yelp page

    Located in the middle of wine country, this family-operated bed and breakfast is a real hit among travelers. It is within one mile of seven different award-winning wineries, making for great accommodations for anyone looking to experience the best wineries in a relaxing space.

    The rooms are accommodated with king size beds, fireplaces and gourmet breakfasts. Vineyard view patios are also an option. The property backs up to a 10-acre vineyard.

    Cheryl R. writes on Yelp, “It is spectacularly gorgeous. The rooms are so spacious and the amenities are top notch. You do not get a bad room at this place!”

    2. The Chadwick Bed & Breakfast

    Portland, ME

    Company website | Yelp page

    This home was built in 1891 and converted into a bed and breakfast over 40 years ago. The Portland, Maine area has so much to do that travelers can use the property as a retreat at the end of a long day or use the property itself as a vacation getaway. The classic architecture, the food served, and the surroundings on the premises are a vacation in and of itself.

    Breakfast seems to be a resounding hit among reviewers of this property. Kim B. notes on Yelp that when it comes to the servings, “Not a detail was forgotten.” In fact, nearly every review on Yelp notes how fantastic the breakfast is.

    3. Horseshoe Bend Slot Canyon Tours

    Page, AZ

    Company website | Yelp page

    Taking you into the heart of the Navajo nation, this touring company will get you out to the legendary Secret Antelope Canyon and Horseshoe Bend Overlook. Plus, there’s an option for Horseshoe Bend rafting for those that are up to it.

    These are some of the most scenic overlooks in the entire United States, and group tours are kept below 15 people to make them more personal. Christopher Y. notes on Yelp, “If you want plenty of time to explore, learn about Navajo culture from a local and truly experience the sights you want to see, this is the tour to do!”

    4. Spoke and Vine Motel

    Palisade, CO

    Company website | Yelp page

    This motel is the creation of a husband-and-wife team with backgrounds in hospitality and property management. They have renovated an old roadside motel building to create an entirely new, hip experience for patrons. They’ve recently opened a motel bar as well, featuring great cocktails and local drinks.

    Travelers rate this spot in the Grand Valley very highly, noting that it is within walking distance of wine, beer, mead and everything else this area of Colorado has to offer. In particular, reviewers love the beds and the fact that coffee and breakfast are brought to each room every morning.

    5. The Motor Lodge

    Prescott, AZ

    Company website | Yelp page

    Located just blocks from Courthouse Square and Whiskey Row, this boutique hotel is earning rave reviews as a must-stay in the Prescott-area. With the feel of an old roadside motel, there are just 13 rooms at the establishment. Each room is unique.

    Rooms have shared and private patios, which earn high marks from travelers. Reviewers note that they like the establishment’s funky and retro vibes, as well as its proximity to historic downtown Prescott. Lyndsey E. writes on Yelp, “Staying at this motor court felt like a step back in time with modern amenities.”

    Related: How to Impress Guests in a Changing Hospitality Industry

    6. FivePine Lodge & Conference Center

    Sisters, OR

    Company website | Yelp page

    Earning AAA’s 4 Diamond rating, this classic-style lodge stands out above the rest in the area. Each cabin (there are also rooms in the main lodge) is accommodated with a king-sized bed, a waterfall soaking tub, fireplace, private balcony/patio and a complimentary hosted wine reception. The gourmet breakfast also earns high marks.

    Additionally, reviewers love the gourmet coffee and tea service, as well as the on-site athletic club, spa, moviehouse and fine dining. There’s access to bicycles for exploring the surrounding area, as well as access to hiking trails.

    7. Everglades River of Grass Adventures

    Miami, FL

    Company website | Yelp page

    Everglades River of Grass Adventures has been earning top-tier reviews since 2012. Visitors love the small, custom airboats they use to explore the Everglades and surrounding area — where alligator-spotting in pretty much guaranteed.

    These tours will take you deep into the Everglades, giving you glimpses of unique wildlife and plants in the process. Reviewers note the awe of enjoying this area of the country’s unique great outdoors, as well as the tour guides’ friendly lessons.

    Jilly B. on Yelp says that her family “had the best time learning about the native species and the unique ecosystem” and called it ” the best hands-on nature study we have ever done.”

    8. Ray’s Bucktown B&B

    Chicago, IL

    Company website | Yelp page

    Located just outside of downtown Chicago, Ray’s Bucktown B&B offers the chance to experience the Windy City’s legendary Wicker Park/Bucktown area. It’s also just a few blocks from Logan Square.

    The building offers 11 unique rooms, as well as a sauna. The location is modeled after small European hotels. You’ll be hard-pressed to find a review that doesn’t mention the establishment’s cooked-to-order breakfast that is served every morning. There is unique decor throughout, reflecting the owner’s global travels, as well as some nods to the local history of Chicago.

    9. The Roxbury

    Roxbury, NY

    Company website | Yelp page

    An extremely unique location near the Catskills, The Roxbury is an experience in and of itself. Called “one of the most amazing hotels in the entire country” by HGTV, and featuring themed rooms and suites, the establishment aims to wow their customers the minute they open the door to their room.

    The Roxbury’s website says that “if you do not at least smile (and hopefully sometimes gasp) when you open the door to your room, then we have not done our job.” Judging by the feedback from customers, they are succeeding. The terms “enchanted” and “magical” are commonplace in traveler reviews on Yelp and Trip Advisor.

    10. Blue Swallow Motel

    Tucumcari, NM

    Company website | Yelp page

    Located on historic Route 66, this establishment wants to give its guests an experience of what it was like to travel on the road back in the 1940s and 1950s. You experience history here in a building that was originally built in 1939. It features vintage furniture and decor in the restored rooms, as well as neon signs outside and garages attached to each room.

    The Blue Swallow earns high marks from travelers who have stayed during their Route 66 adventures. Erin C. on Yelp notes, “The rooms are adorable and retro furnished. The neon lights and evening vibe cannot be beat.

    Related: How This Husband-and-Wife Team Grew a B&B Empire

    11. Savannah Taste Experience

    Savannah, GA

    Company website | Yelp page

    Take a trip through historic Savannah via a three-hour walking and tasting tour. During this experience, customers will see the cultural landmarks, architecture and historic sites of the city while also indulging in some of the best food that is part of the local tradition.

    Reviewers like that the tour groups are kept to a manageable size — 12 people or less — which makes it easy to hear the tour guide and partake in all the activities. They also like how well-versed the tour guides are in the history of the city, and say they learn lots of information in an engaging and entertaining way.

    12. Desert Pearl Inn

    Springdale, UT

    Company website | Yelp page

    Near the Virgin River and Zion National Park, the Desert Pearl Inn is a great location for a retreat or romantic getaway. It’s built inside a deep canyon, meaning you can enjoy stargazing at night and great outdoor activities during the day.

    Guests view red rock formations along the river outside of their room. And what about the room itself? You will be surrounded by stone walkways and stucco, with framing done via Douglas fir and redwoods that were taken from a 100-year-old railroad trestle that used to cross the Great Salt Lake.

    Reviewers love the balconies, clean amenities and the ability to walk to your destinations.

    13. Rachael’s Dowry Bed & Breakfast

    Baltimore, MD

    Company website | Yelp page

    This highly rated bed and breakfast is in Baltimore’s Ridgely’s Delight neighborhood, and is walking distance from the inner harbor. It is surrounded by homes built in the 18th and 19th centuries, allowing visitors to experience history in an immersive way.

    The home was originally built by a brick baron, and George and Martha Washington were once hosted here in 1798. Reviewers love how quiet the neighborhood is, along with the home’s beautiful gardens, parlor room and library (with complimentary tea), and the two-course gourmet breakfast.

    14. Bobby’s Bike Hike – Chicago

    Chicago, IL

    Company website | Yelp page

    Bobby’s Bike Hike was created out of a love of travel — and family. It was founded by Jeremy Lewno, who grew up in Arkansas and spent his twenties traveling Europe. Then he moved to Chicago in 2002 and created Bobby’s, which he named after his late father, who operated a tour bus and taught his son a love of travel.

    Today, Bobby’s remains a great way to see the city up close and enjoy the 18 mile lakefront while being environmentally and culturally conscious. In addition to bicycle tours, the company also offers walking and food tours. Or you can just rent a bike from them and be on your way to take in everything on your own.

    15. SevenOaks

    Lake Geneva, WI

    Company website | Yelp page

    Want to get away from the kids, and enjoy a quiet retreat with your partner? That’s very specifically what SevenOaks is for. It’s a couples-only bed and breakfast, where couples can recharge just minutes from the shore of Lake Geneva in southeastern Wisconsin.

    Guests who stay here are presented with their own private cottage. Reviewers love the relaxation and privacy that this ensures, as well as the personalized touches upon arrival such as the chalkboard outside with the guest’s name on it. Reviewers also note how much they appreciate the clean amenities, complimentary wine, crackers, and daily breakfast that is brought to each cottage.

    Related: 10 Ways Small Businesses Can Give Back Without Breaking the Bank

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    Entrepreneur Staff

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  • 5 Essential Tips for Mastering Your Next Brand Photoshoot | Entrepreneur

    5 Essential Tips for Mastering Your Next Brand Photoshoot | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s digital age, creating a magnetic brand presence is the key to success. With 65% of the population being visual learners, adding captivating imagery to your marketing strategy is an obvious choice to capture the attention of your audience.

    In fact, 75% of content marketers shared that they receive better ROI when they add visuals to their content, according to a recent poll by Contently. But simply grabbing stock images won’t cut it in today’s overstimulating online world. As a brand, it’s important to develop a visual identity that is both memorable and personable.

    This is due to consumers being more careful with their money and more aware of marketing strategies than ever. As this trust barometer report shows, 81% of consumers across the globe share they need to be able to trust the brands they buy from.

    The best way to create a personable, trustworthy brand is to have a face and personality represent the brand. By using branded imagery to position the CEO or a spokesperson as an expert, you unlock potential benefits such as heightened engagement, higher conversions, and increased brand awareness. And when it comes to capturing your brand’s essence, a well-executed photoshoot can make all the difference to tell your brand story.

    Whether you’re a budding entrepreneur or an established business owner, planning and executing a brand photoshoot requires careful consideration. To help you navigate this creative process, I’m sharing my top five tips on how to create captivating visuals that truly represent your brand.

    Related: How to Use Personal Brand Photos to Stand Out on Social Media (and Be Remembered)

    1. Plan ahead and embrace your brand colors

    When it comes to brand consistency, colors play a pivotal role in establishing brand recognition. Before diving into your photoshoot, take the time to plan ahead and align your outfits with your brand’s color palette. A shared Pinterest board can be an invaluable tool for determining poses and outfits in advance. By doing so, you can avoid any potential clashes between your wardrobe and your brand colors. Your brand’s visual identity should be harmonious across all touchpoints, and your photo shoot is a prime opportunity to ensure you are staying aligned.

    2. Invest in a package with ample options

    Your brand is multi-dimensional, and your photos should reflect that. While wanting to be cost-consciousness is understandable, don’t skimp on the number of photos or outfit changes during your shoot. Opting for a package that offers a variety of options is key to capturing the essence of your brand. Consider your website photos as an investment rather than an expense. These photos will play an essential role in attracting and engaging your target audience, so it’s worth investing in visuals that tell your brand’s story from various angles. Remember, versatility is the key to keeping your audience captivated.

    3. Communicate your usage needs to your photographer

    To make the most of your brand photoshoot, effective communication with your photographer is essential. Clearly convey how and where you plan to utilize the images, whether it’s for your website, social media or other marketing materials. By doing so, you ensure that your photos align with the specific requirements of each platform. For example, if you need wide, landscape-oriented hero shots for your website, make sure your photographer captures images accordingly. Similarly, if you plan to incorporate text overlays, ask them to allow enough space in the composition. By articulating your usage needs, you set yourself up for success in maximizing the ROI of your brand photos.

    4. Scout for the perfect location

    The location of your brand photoshoot can make or break the visual impact of your images. Consider places that align with your brand’s personality and values. Whether it’s a natural outdoor environment or a carefully curated interior, the backdrop should complement your brand’s aesthetics and resonate with your target audience. Take the time to scout different locations and envision how they will enhance the overall visual narrative of your brand. The right location(s) can elevate your photos and create a powerful connection with your audience.

    Related: How to Prepare for a Personal Branding Photoshoot Like a Pro (and Why It Matters)

    5. Incorporate props and brand elements

    To highlight your personality in your brand visuals, consider incorporating props and brand elements into your photoshoot. These can be items that represent your products, tools of your trade, or objects that reflect your brand’s values and story. By integrating props strategically, you add depth and visual interest to your images while reinforcing your brand’s message. However, it’s important to strike a balance and ensure that the props enhance rather than overshadow your brand’s core message (or come off as cheesy). Thoughtfully chosen and well-placed props can create a cohesive and engaging visual experience.

    Follow these steps, and watch your brand identity shine through. Remember, a well-executed brand photoshoot is not just about capturing beautiful images; it’s about telling a compelling story that resonates with your audience and leaves a lasting impression. By implementing these expert strategies, you’ll be equipped to showcase your brand’s authenticity, connect with your target market on a deeper level, and establish a strong and memorable presence in your industry.

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    Tiffany Neuman

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  • To Get the Most Out of Business Events, Focus on These 2 Things | Entrepreneur

    To Get the Most Out of Business Events, Focus on These 2 Things | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Business events are super lucrative for entrepreneurs, at least for the ones who come with the right mindset. Others, though, sometimes leave feeling great — but if you audit their progress, little to no forward movement is made. So, what makes the difference between the one who yields fruit and the one who doesn’t?

    From past experience, I’ve been both of these types of entrepreneurs, and it’s taken me time to learn how to make the most of the events I’ve attended. What I’ve come to realize is that events are full of stimulus.

    Business events are full of tons of valuable information, incredible presentations, and great networking opportunities, but it’s the fact that there are so many valuable pieces that often scatter your focus instead of making you better.

    Learning which pieces you’d like to gain and walking in with intention is most important. I’ve learned to direct my focus to two main actions that I’d like to accomplish during the event — by focusing on networking or taking away immediately actionable steps through the education at the event.

    Related: 3 Types of Events Entrepreneurs Must Attend

    How to make the most of networking at events

    If your goal is networking and making valuable connections for your business, you’ll want to focus on creating deep, meaningful relationships.

    First and foremost, be curious about who you’re talking to. Most often, you’re so concerned about talking about your own business that you might chase away the exact people you’d like to attract to your business.

    Instead of focusing on yourself, be curious about what they do, who they are and what their goals in life are. Don’t just talk about business. Talk about their family, their interests and their passions. Show a genuine interest in who they are, and find the common threads that you share.

    If the opportunity presents itself, speak about what you do and how much you enjoy it. Passion is contagious. Put the energy in to show your passion for what you do and how it makes you feel.

    Most importantly, don’t be that guy or gal running around handing out business cards and moving on to the next person as if it’s a race to hand out a card to everyone in the room. Chances are those will just be thrown out, and you’ll never get the call you’re looking for.

    Related: 8 Ways to Get the Most Out of Networking Events

    How to make the most of the education from events

    Events often have high-level speakers who share valuable information. A lot of the time, it can be so much valuable information that you could never take action on all of it. So, what should you do in that situation?

    First, I’ll research speakers beforehand if I know who’s going to be speaking. I figure out what they teach and what I need most. I had a friend once say, “I’d much rather have just-in-time information instead of just-in-case information.” Of course, competency is important for your business, and continuing education is popular in many industries for a reason. But it’s easy to get led astray by shiny objects at an event.

    Figure out what you need most in your business and who will teach about it. Select a few people who you’ll be able to focus on intently, and take diligent notes on their teachings.

    Plan the time that you’ll implement the strategies, and do it in a strategic way so that you’ll be able to measure the results. If possible, take detailed enough notes so a team member can implement some of the other actions you’d like to take.

    Most importantly, don’t get caught up with the shiny objects and get pulled off course. Directed focus is your number one asset.

    Bonus tips

    There are a couple of other things you can do to leave a lasting impression on the people you meet at business events. Dressing well is important. The impression people get of you when they first see you is a lasting one. Dress the part, and look sharp.

    Remember names as best as you can. Try to prime your memory of them by placing something else that you associate them within your memory and saying their names a couple of times in your head while associating that thing with them in your memory.

    Most importantly, remember to be yourself. People will pick up on fakeness — it’s easy to want to impress people and be someone you’re not. The most important thing is to remember to be yourself and look to create deep, meaningful connections without being fake or lying about who you are.

    Related: 3 Ways to Get More Business From Your Next Networking Event

    These events can be an extremely valuable place to grow your business, find partners and learn information that will change your business. It’s easy to get overwhelmed and spin your wheels instead of gaining the traction you’re looking for.

    If you can show genuine interest, build rapport and focus on specific, actionable steps you’d like to accomplish when leaving, you’ll see the benefits you’re looking for from attending.

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    Trevor Cowley

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  • 10 Lessons I’ve Learned In 10 Years of Running My Own Business | Entrepreneur

    10 Lessons I’ve Learned In 10 Years of Running My Own Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In 2013, I made a life-changing decision. I decided to “take a break” from my dream job, which while amazing, was also fast-paced and demanding. I gained invaluable experience, opportunities, connections and more as a law firm partner, but my personal life suffered.

    I was fortunate to have had financial success that enabled a break, and this difficult decision catapulted me into becoming a full-time entrepreneur. While I miss some things about being a part of a law firm, I love setting the pace of my own life and that I still help others daily, just in a different way.

    Becoming a business owner has revolutionized my understanding of the realities of running a company. I now believe you cannot tell someone else how to run their business if you have never successfully run one yourself. In celebration of 10 years as a fully self-funded female business owner, here are ten things I’ve learned.

    Related: Are You a Business Owner or an Entrepreneur?

    1. You can actually start your own business and be successful!

    I never intended to become an entrepreneur. However, after deciding to pause, I was asked to consult with lawyer friends who had previously been competitors. Unlike work, it sounded fun, and I could do it while “on a break” from law firm life. Ten years later, I manage a team of marketers and work with law firms across the country, helping my team members and my clients succeed.

    Related: 10 Tips for the First-Time Business Owner

    2. No matter how good you are at what you do, some people will still treat you like you aren’t

    You might expect that after over two decades as a lawyer and achieving both legal industry accolades and marketing industry awards, those I talk to and work with would always treat me with respect. You’d be wrong. No matter how many years of schooling, degrees, years of experience and awards you have, some people will always try to make you feel small, treat you as if you do not matter and belittle your skills.

    Don’t work with those people. Don’t employ those people. Don’t allow those people to impact your energy and success.

    3. You cannot control your clients, but you can only control how you respond to them

    Most marketing agencies do not refund client money after being paid. I used to feel the same way — I did the work, you paid me, and I deserved to be paid. Fear of having done a bad job, fear of not being able to afford to refund that money and fear of that client keep owners myopic. Success has allowed me the privilege to evolve.

    I had a client who was negative and abrasive and refused to collaborate. Even though we delivered everything they paid for, the firm was still unhappy. So, I fired them and refunded every cent of their money. While this made my business lose money, the financial price was worth it.

    4. You do not need a physical office to be a seven-figure company

    I spent my legal career working in business attire in a professional setting in office buildings. Once the pandemic hit, the beautiful corner office on the top floor of a building in my neighborhood I had painstakingly searched for and decorated became a source of stress. Our team became remote, not really by choice, and we stayed that way. Now I pay no rent and reallocate those funds. I miss working collaboratively in person, but my team is thriving. We have been able to take on more clients than ever before, all without a physical office.

    5. If a new hire is troubling you early on, they are likely not going to work out

    A successful business owner told me that I would know within two days of working with a new hire if they would work out. I scoffed at what sounded like a lack of care and a lack of willingness to try harder when onboarding.

    After ten years, two days still seems pretty quick, but it does not take long to know if a new hire is the wrong one. The longer you wait to deal with it, the worse things get for the new hire and the existing team. Cut your losses early, allowing that person to move on and you to start looking for the right fit.

    Related: How to Find, Hire (and Fire!) Rockstar Employees

    6. Narrowing services offered means increased expertise

    As a 21-year lawyer, legal marketing is my consulting focus. Because there are a lot of lawyers, and most law firms engage in marketing efforts, I have a decently sized national marketplace from which to obtain clients. One of my strongest selling points is that I have a niche business focused on one industry and am a licensed expert. Expanding into other industries I know less about and have no footprint in would dilute my biggest point of differentiation. Stay focused and grow within your niche.

    7. Saying “no” leaves room to say “yes” to opportunities you don’t know about yet

    It is scary to say no to paid opportunities early in the life of your business but remember, each engagement is a partnership, and you should only partner when it can be mutually successful. Prevent doomed collaborations on the front end.

    Gauge compatibility by paying attention to how they speak to and email you, the “story” of how they came to be in their current position, and more. Every client you choose to work with can come at the expense of being able to take on another, better opportunity you might not know about yet.

    8. Being your own boss is addicting

    Over time, being my own boss has become a commodity worth significant value to me. I greatly enjoy not having to ask permission to spend a full weekend day uninterrupted with my children. The scary part of being the boss is being responsible for yourself, your team, your clients, and many others, but the benefits of determining how to handle those responsibilities are worth it.

    Related: 5 Essentials for Succeeding When You Become Your Own Boss

    9. Set boundaries early and do not compromise

    Boundaries are important in both our personal and professional lives. The legal industry cultivates a culture of constant availability and immediate response, which is stressful. Now, running my own business, I make conscious choices to shape our company culture differently.

    No one on my team is required to work outside of normal business hours. No one on my team has their work email on their mobile device. I no longer provide clients with my personal (and only) cell phone number. Establishing boundaries like these makes work healthier and more productive.

    10. If you can’t pay yourself as an owner, you are not doing it right

    A surprising number of business owners I consider successful cannot and do not pay themselves at all. Their businesses do not generate sufficient revenue to allow the owner to make an income. If you cannot pay yourself (after a reasonable startup time, of course), you are not succeeding. You should reevaluate your financial position, overall business plan, and whether or not owning a business is the right choice for you.

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    Stacey Burke

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  • 7 Common Mistakes to Avoid When Scaling Your Business | Entrepreneur

    7 Common Mistakes to Avoid When Scaling Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In business, the scale-up phase of a company is where, after you prove your concept and establish a solid base, you’re ready to share your offering with the world — setting the stage for exponential growth and success. But in 2023, the entry criteria for this stage look a lot different, demanding a nuanced approach.

    During a period of higher costs with less capital available, the importance of precise timing and frugality has become paramount. Having scaled four companies by 1,000% — two of them during economic downturns — I’ve learned some tough lessons about what not to do.

    Related: 7 Ways To Scale Your Startup or Business

    Mistake 1: Scaling too early

    Fire, ready, aim. Scaling too early these days can be a fatal mistake. If you’re still figuring out your category, your ideal customer profile (like what specific problems you solve) or your best route(s) to market, it’s not time to scale.

    If your unit economics are wildly unsustainable or the nucleus of your core team isn’t in place, it’s not time to scale.

    If you’re not getting pull (inbound demand and word of mouth) from the market you play in, it’s not time to scale.

    Mistake 2: Scaling too late

    Whoops, missed out on that one. On the flip side, scaling too late can mean missed opportunities. If you’re inundated with demand (leads falling on the floor), in the midst of a buyer platform/paradigm shift or have overly superior unit economics, it might be past time to scale. Don’t let competitors with inferior products steal your market share because you’re under-resourced while they’re expanding — especially if you’re in a winner-take-all or major first-mover advantage market.

    Mistake 3: Hiring the wrong leaders at the wrong time

    They were great at that one company. Hiring is a critical part of scaling. It’s also one of the most difficult. It’s about finding the right people for the right roles at the right time. Avoid the temptation to hire people just like yourself. Embrace diversity, and cover different perspectives. Be wary of hiring leaders from companies that are too big or too small. Document what specific outcomes you need next and what requisite skill sets and experiences will deliver those outcomes. And ensure that hires fit your culture. If you’re hiring a sales leader, be especially alert and consider things like your go-to-market motion, stage and buyer.

    Mistake 4: Not delegating

    I tried delegating once, but it was too much work. As a founder, it’s natural to want to control every aspect of your business. But as you scale, you need to let go. Trust the leaders you’ve hired. It’s why you worked so hard to recruit them. Give them the direction and support they need, then step back and get out of their way.

    Related: How to Know When It’s the Right Time to Scale Your Business

    Mistake 5: Overlooking infrastructure and operations

    We’ll get to that someday. As you scale, your infrastructure and operations need to scale with you. Document your core processes; shared documents, checklists and playbooks work great early on. Invest in HR, including hiring the people/HR manager. Try not to skimp on technology, data tracking or analytics. The same goes for sales and marketing operations. And avoid accruing too much product or architectural debt. These are the foundations upon which your scaled business will stand.

    Mistake 6: Getting stuck on the funding treadmill

    More money, more problems. Funding is a means to an end, not an end in itself. Don’t get so caught up in reaching the next funding milestone that you lose sight of your business fundamentals and economics — especially in today’s market. Ensure you’re consistently improving your fundamentals (product-market fit, customer value creation, distribution, growth strategy) and economics (growth rate, margins and profitability, customer acquisition cost and customer lifetime value). Make sure you can see — or at least paint — a clear path to sustainable profitability.

    Mistake 7: Losing your beginner’s mindset

    What got you here won’t get you there. Things change fast. Stay open to new methods and ways to evolve your business. Don’t overlook things that change quickly, like pricing and packaging, your product roadmap expansion, category expansion, market segmentation and targeting, and second and third growth acts. Keep that beginner’s mindset.

    What’s next?

    Scaling a business is exciting. It’s also challenging and complex. But there’s no reason to repeat the mistakes of the past.

    Listen, learn, and plan to grow your company successfully. With awareness and careful planning, you can avoid these common pitfalls. Remember, the goal of scaling is not just to grow bigger but to grow better — to deliver more value to more customers, create more opportunities for your team and make a greater impact on your market. So take the time to scale wisely, and you’ll reap the rewards for years to come. Remain curious, keep that beginner’s mindset, and stay inspired by thought leaders who’ve done it before — while you pave your own way.

    Related: 5 Pitfalls to Avoid When Growing or Scaling a Business

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    Kevin Marasco

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  • 6 Proven Ways of Building Customer Loyalty | Entrepreneur

    6 Proven Ways of Building Customer Loyalty | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    A loyal, longtime customer is akin to fine wine: Producing it requires a considerable amount of work, and the aging process is where it truly pays off. Strong, lasting customer relationships help create a stable growth foundation. However, developing and nurturing them is no easy feat in a crowded marketplace. It requires, among other things, a laser focus on making them feel valued.

    Here are seven strategies you can use to build yours.

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    John Boitnott

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  • 5 Strategies to Make Your Next Product Launch a Success | Entrepreneur

    5 Strategies to Make Your Next Product Launch a Success | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Product launches are exhilarating and challenging endeavors that can define the trajectory of a brand. As a co-founder of an intimate apparel brand, I have had the privilege of navigating this intricate landscape. Through countless product releases, I have learned that launching a new offering is not just a one-time event but a continuous cycle of growth and evolution.

    A successful product launch goes beyond mere features and specifications. It is about establishing meaningful connections with your audience and addressing their needs and desires. And this is true no matter the industry you’re in.

    To have a successful product launch, it’s imperative to follow five key strategies. These strategies have been instrumental in our journey, and these principles can build meaningful connections, refine your offerings and propel your brand toward sustained growth and success.

    Related: 8 Steps for the Perfect Product Launch

    1. Solve your customer’s problem

    In sales, there’s an adage that states you’re not selling a product but a solution. This philosophy has always guided my company, EBY. We aim to solve problems, such as discomfort caused by underwire bras, rather than simply touting feature-packed products. The key lies in clear and concise communication about the issue and how our product provides the solution. A product’s success lies in its ability to address real, pressing problems for its users rather than relying solely on an endless list of features and functions.

    2. Read your customer reviews

    Product launches aren’t isolated incidents, but part of a continuous cycle, and customer feedback plays a crucial role in shaping the future of your products. Those opinions matter to us, whether it’s a loyal customer or someone new to your brand. Be sure to value that feedback, as it provides invaluable insights that guide you toward creating products your customers truly desire.

    When you receive positive reviews, it reinforces the features that resonate with your consumers the most. It’s like finding a hidden treasure that affirms your efforts and encourages your company to double down on those aspects that bring the customer joy and satisfaction. The positive feedback will fuel your motivation to keep delivering exceptional experiences.

    On the other hand, negative feedback is equally important. It highlights areas where you can improve and fine-tune your products. We see it as an opportunity for growth and innovation. Those honest critiques are like signposts pointing toward the specific features that need your attention. By approaching reviews with an analytical and discerning eye, you can extract valuable lessons and turn them into actionable steps for refinement.

    So, whether you have positive or negative feedback, I encourage you to embrace it. Those opinions are the compass that steers you in the right direction.

    3. Fuel your mission — always return to your purpose

    Amidst the fast-paced world of product launches, it’s crucial to remember your “why.”

    At my company, our mission is to empower women through their everyday choices, including underwear. We facilitate this empowerment by supporting other women’s businesses. We strive to remind our consumers that their purchasing power has a global impact, and every product they buy aligns with their values and supports a broader cause.

    The same applies to every business in every industry. Your purpose is your North Star. In an era where consumers seek brands with heart, returning to your “why” becomes a powerful tool for resonating with your audience.

    Related: Will Your Product Launch Be a Success? 4 Signs It Won’t Be.

    4. Reimagine the influencer relationship

    In today’s digital age, business owners must recognize the immense power and potential of the influencer channel. You can establish a strong and mutually beneficial relationship by collaborating with influencers. Don’t treat these collaborations as mere transactions; strive to create meaningful connections beyond financial exchanges.

    When launching new products, involve your top influencers in the prototyping phase, and seek their valuable feedback. You can infuse your product launches with genuine enthusiasm and expert guidance by valuing their contributions and insights. This strategic approach engages a valuable demographic and leverages the influencer’s targeted audience, credibility and innovative perspectives to elevate your brand’s awareness and drive success in the digital realm.

    5. Most important love? Team love

    Lastly, it’s essential to involve your team in the success of your product launch. Ensure they use it, love it and believe in it as much as you do. A passionate team that feels part of the company’s success will naturally translate this enthusiasm to the consumer. It is not viewed as the company’s product launch, but their product launch. When your team wholeheartedly supports the product, their genuine excitement and dedication become contagious, driving the launch’s success.

    Navigating the world of product launches can be challenging, but with these five principles, you can set yourself up for greater success. Stay committed to listening to your customers, reimagining relationships, solving customer problems, fueling your mission and ensuring team alignment. Remember, a product launch is as much about the people behind it as it is about the product itself. Following these strategies can create impactful launches that resonate with your audience, foster brand loyalty and drive sustained growth.

    Related: How to Nail a Successful Product Launch

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    Renata Black

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  • How to Get Clients to Look For You — Not the Other Way Around | Entrepreneur

    How to Get Clients to Look For You — Not the Other Way Around | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When I think of branding, my inner journalist relates the word to the concept of storytelling. Effective branding takes prospects on a journey where they fully understand what you do, why and how.

    Beyond that, a genuinely magnetic brand is polarizing and unique. The more magnetic a brand is, the less it needs to compete for new clients. With its unique positioning and compelling value proposition, prospects and new clients are naturally drawn to such a brand.

    As someone who’s worked in sales and public relations for almost a decade, I know how hard it can be to create a brand with genuine gravitas. Here are some branding principles that can help your business shift from looking for new clients to having new clients look for you.

    Related: 5 Timeless Storytelling Strategies to Use in Your Next Marketing Campaign

    Engage your clients’ emotions with planning and structure

    When your client pays for your brand’s services, they have identified an emotional gap between where they are and where they want to be after your intervention. Magnetic branding empathizes with prospects and communicates an understanding of the value of its services.

    Humans are emotional beings; we only do business with companies we know, like and trust. For our brands to evoke a sense of confidence in our clients, we have to ensure that we not only know how to bridge our clients’ gaps but that our clients know that we know how to do so too. Our prospects love to see structure, process and general planning regarding our services. Again, storytelling is critical as your customers want to journey with your services.

    Communicate a clear and straightforward value proposition

    A common mistake we tend to make when branding is that our storytelling is long-winded and broad. We often overcommunicate the services offered and overestimate our prospects’ attention spans. In this digital age, we collectively suffer from information overload. That said, our responsibility as branders is to ensure we are concise and accessible when communicating our value. The easier a prospect understands how we can help them achieve what they want, the greater the chance we convert them as a client.

    If you asked your prospects if they understood what you offered, would they be able to answer quickly and clearly? If not, perhaps that’s a sign you need to work on this principle.

    Cultivate your brand positioning

    What unique things do you do best that add to your value proposition? How do you differ from your competition? These are questions to consider, for the more unique your offer is in your niche, the more you may find clients that work with you because you’re so different. If your brand doesn’t have much unique value, perhaps reflecting on how you can grow as a business and person would be helpful.

    Have other people talk about your services and brand

    Collecting and showcasing testimonials is a great way to build trust with your leads and prospects. However, beyond just featuring your past clients on your social media or landing pages, an excellent way to generate social proof is by getting featured on the news. By having articles written and published about you in different news outlets, you can again increase your trust in your clients, thus increasing their chances of converting into paying customers.

    Getting different news features under my belt has undoubtedly opened many doors for me. I’ve since found it easier to sell products, get hired, land speaking engagements and generally attract higher-quality clients. Not only am I perceived as more of an authority in my niche, but I can also have a broader impact since more people trust my brand with my social proof.

    Invest in your public relations strategy

    Having multiple ways to communicate with the public is vital to increasing the credibility, reach and accessibility of our brands. Being strategic is necessary as not all messages are suited for all mediums. Some things are best said in a press release, while others are on a social media post or website landing page. Hosting events and press conferences can also be great ways to communicate with our desired audiences.

    Typically, our public relations strategies are put in place to achieve one of two things — to build hype and credibility in a brand or to protect the brand’s long-term reputation. Either way, an effective public relations strategy can make our brands more resilient, notable and trustworthy in the eyes of our prospects and general audiences.

    Growing a brand can be a daunting task for anyone. There are many ways to achieve the same ends, and we often can lose sight of our customers’ perceptions while trying to balance growth under whatever constraints we may have. However, we business owners are servants to the human nature of our prospects and clients. The brands that more deeply understand and appeal to said human nature and the ones that end up being more successful and magnetizing. Hopefully, you can apply the principles described here to your business and watch as you find new paying customers quickly and gracefully.

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    Jonathan Brierre

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  • Why Nurturing Relationships With Other Entrepreneurs Is Vital | Entrepreneur

    Why Nurturing Relationships With Other Entrepreneurs Is Vital | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As an entrepreneur, nurturing relationships outside of that realm is important, but the same goes for nurturing business relationships. We have to find that balance. Being able to do so has been very rewarding for me. In the beginning, I didn’t have other entrepreneurs to share my excitement, ideas, wins, challenges or losses with.

    I get very excited about sharing my journey, ideas, plans, etc., and in the past, when I would share certain parts of my journey with people who weren’t entrepreneurs, my excitement was perceived as me bragging or thinking I know more than that person. My reaction was, “No, I’m just passionate and excited to have made it to this point or be able to take that negative and turn it into a positive. That’s it, that’s all”. I’m passionate about any projects I work on, and I love hearing about other people’s passions.

    “The true currency of business is trust. Nurture your relationships, show integrity, and deliver on your promises. That’s how you build a solid foundation for long-term success.” — Denise Morrison, Former CEO of Campbell Soup Company

    I’m an introvert, and I realized that for me to reach my full potential, I had to step outside of my norm. Whew, and once I did, one word that accurately describes what I started to feel was: “exhilarating.” I am loving this chapter. I was able to build my network and nurture those relationships. In nurturing those relationships and building my network, I started to realize the many benefits of doing so.

    Here are nine reasons why it’s important to nurture your business relationships:

    Related: 4 Strategies for Building Deep Business Relationships

    1. Collaboration and networking

    Building relationships with fellow entrepreneurs allows you to collaborate on projects, share ideas and leverage each other’s strengths. By connecting with other like-minded individuals, you can tap into a network of potential partners, mentors, advisors and customers. These relationships can lead to collaborations that enhance your business, open new opportunities and accelerate growth.

    2. Learning and knowledge sharing

    Interacting with other entrepreneurs provides valuable opportunities for learning and knowledge sharing. You can exchange experiences, insights and lessons learned, which can help you navigate challenges and avoid common pitfalls. By staying connected with the entrepreneurial community, you can stay updated on industry trends, emerging technologies and best practices. This continuous learning can help you stay competitive and adapt to changing market dynamics.

    3. Support and inspiration

    Entrepreneurship can be a demanding and sometimes isolating journey. Building relationships with other entrepreneurs allows you to find a support system for individuals who understand the challenges you face. They can offer advice, encouragement and emotional support during difficult times. Additionally, surrounding yourself with successful and motivated entrepreneurs can inspire you to aim higher, set ambitious goals and push your boundaries.

    4. Access to resources and opportunities

    Developing relationships with other entrepreneurs can grant you access to valuable resources and opportunities. These connections may provide introductions to potential investors, strategic partners or suppliers. Additionally, by building trust and rapport with other entrepreneurs, you may gain access to industry events, conferences and communities that can expand your network further. Opportunities for joint ventures, co-marketing campaigns or shared resources can arise from these relationships.

    Related: 5 Easy Ways to Build More Business Relationships as an Entrepreneur

    5. Mentorship and guidance

    Connecting with seasoned entrepreneurs who have achieved success in your industry can offer invaluable mentorship and guidance. They can provide advice based on their experiences, help you navigate complex decisions and provide insights into growth strategies. Having a mentor within your entrepreneurial network can accelerate your learning curve and increase your chances of success.

    6. Collaboration on industry challenges

    Many industry challenges require collective efforts to address effectively. By nurturing relationships with other entrepreneurs, you can collaborate on finding solutions to common industry problems. This collaborative approach can lead to innovation, industry-wide improvements and a positive impact on the overall ecosystem.

    7. Personal growth

    Networking and collaborating with other entrepreneurs can lead to personal growth. Engaging in discussions, workshops or events with other entrepreneurs can broaden your horizons, challenge your assumptions and help you develop new skills.

    8. Community impact

    As you nurture relationships with other entrepreneurs, you also become part of a broader community. By contributing to this community, you can have a positive impact on others, fostering a sense of fulfillment and purpose beyond financial success.

    9. Peer accountability

    Engaging with other entrepreneurs creates a sense of peer accountability. When you have relationships with other business owners, you become part of a community where you can set goals, share progress and hold each other accountable. This accountability fosters personal and professional growth and encourages continuous learning.

    Related: Why Networking Is a Must for Successful Entrepreneurs

    In summary, nurturing relationships with other entrepreneurs is vital for collaboration, networking, learning, support, access to resources, mentorship and tackling industry challenges. These relationships can fuel personal and professional growth, enhance your business and contribute to your long-term success as an entrepreneur.

    Remember, nurturing business relationships is an ongoing process that requires genuine care, effective communication and a commitment to adding value to others.

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    Athalia Monae

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  • How to Give Constructive Feedback That Actually Changes People | Entrepreneur

    How to Give Constructive Feedback That Actually Changes People | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Providing good feedback to colleagues is important for professional and personal growth. Yet for many people, giving feedback can be uncomfortable and even anxiety-inducing. You worry about offending others, saying the “wrong” thing, or coming across as too critical. But avoiding difficult feedback conversations prevents opportunities for improvement and stagnates workplace performance. The key is learning how to structure and deliver feedback in a sensitive yet impactful manner.

    With practice, uncomfortable feedback discussions get easier, and you’ll see that thoughtfully pointing out both strengths and growth areas helps people develop, strengthens relationships and ultimately makes you a better colleague and leader.

    Related: How Entrepreneurs Can Use Effective Feedback to Stay Resilient and Agile

    Focus on behavior, not personality

    When providing feedback, focus on specific behaviors and actions that someone can change, rather the person’s innate qualities. For example, say “The last report had many typos and formatting errors” rather than “Your work is usually sloppy.” This keeps the feedback professional, constructive and actionable.

    Related: Employee Feedback Is Only Effective If It’s Done Right. Here’s How to Make Sure It Lands.

    Preserve the relationship

    Even necessary criticism should maintain the other person’s dignity and self-esteem. Start by acknowledging strengths and good intentions. Explain the purpose behind your comments. As I mentioned earlier, focus on the work, not the person.

    Four key principles underlie high-quality feedback:

    1. Specificity — Call out concrete examples of what the person did well or poorly. Saying “You did a great job” lacks meaning. But saying, “You handled that difficult client conversation very skillfully by focusing on shared interests,” will leave a more lasting impression.

    2. Timeliness — The sooner you give feedback, the more accurately the other person will remember the situation and the more useful your comments will be. Delays can lead to misunderstandings. Aim to provide feedback within a day or two of an event or interaction.

    If you frequently work with someone, aim to provide feedback on an ongoing or routine basis rather than just at major milestones. Regular feedback is also seen as more credible and encourages better habits early.

    3. Relevance — Your feedback should relate directly to the person’s work responsibilities and goals. Avoid getting personal or venturing into areas beyond your purview. Stick to professional issues that can be improved through feedback.

    4. Empathy — Showing genuine care and concern for the other person puts them at ease and makes them more receptive to your message. Start by acknowledging their good intentions, then explain how their approach could be refined.

    Provide honest yet tactful feedback that considers the other person’s feelings. Avoid shaming, harsh language or hyperbole — even if the feedback is critical. A more empathetic tone is kinder and keeps the discussion constructive. Phrases like “I know you put a lot of work into this but …” can soften critical feedback.

    Highlight specific examples

    Back up your feedback with concrete examples and specifics wherever possible. Saying, “Your presentation lacked structure” is vague, but “The introduction didn’t set up the topics in a logical order” points to a clearer action the person can take. Examples make the feedback feel real and highlight areas for improvement.

    Suggest alternative behaviors

    Don’t just point out what someone did wrong – also propose positive alternatives they could try next time. Saying, “You reacted aggressively during that exchange,” is less useful than “Taking a moment to calm down before responding likely would have produced a better outcome.” This gives the person practical options to implement your feedback.

    Related: 9 Ways That will Help Promote Actionable Feedback in Your Organization

    Be Solution-Focused

    Avoid dwelling on past mistakes and instead focus your feedback on finding constructive solutions. Phrases like “Next time, try ..” or “In the future, it would be better to … ” help make the feedback about moving forward productively. This keeps the discussion positive and solution-oriented.

    Use “I” statements and listen actively

    Frame your feedback using “I” statements that are less accusatory and more impartial. For example, “I felt the introduction lost people” instead of “You lost people with that introduction.” This makes the feedback about your perspective rather than an attack on the person. It also increases the chances they will be receptive.

    After giving your feedback, actively listen to the other person’s response and perspective. Ask open-ended questions, paraphrase what they say, and resist the urge to interrupt. This shows that you value their thoughts and are more interested in a genuine exchange than being “right.”

    Related: 10 Telltale Phrases That Indicate Somebody Isn’t Telling the Truth

    Follow up on progress

    After providing feedback, check in periodically to see if the person found it useful and how they plan to implement it. Offer additional suggestions or clarification if needed. This shows you’re invested in truly helping them improve, demonstrating your value as a colleague and mentor.

    With these principles in mind, your feedback will help others improve and reflect well on you as a thoughtful leader. If you’re looking for a more streamlined way to manage feedback and performance reviews for your team, consider using Hana Retail as your point-of-sale system.

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    Murali Nethi

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  • How Online Rent Collection Can Boost Transparency in Your Rental Business | Entrepreneur

    How Online Rent Collection Can Boost Transparency in Your Rental Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Landlords experience a variety of benefits when switching to online rent collection: automation, convenience, accurate bookkeeping and the ability to meet tenant needs in the marketplace.

    Transparency is an often overlooked benefit. As consumers, we want and appreciate transparency throughout the transaction process. We want to be able to track our packages, payments and orders and know that everything is proceeding as it should. The same is true for the rental marketplace. The more you can clue your tenant in on the rent collection process, the more they’ll appreciate it.

    Here’s how you can use online rent collection to enhance transparency in your own business:

    Related: Landlords, Don’t Believe These 5 Myths About Online Rent Collection

    Track IP addresses and login credentials

    One common concern that tenants have about online payments is that they aren’t secure. In reality, online payments are often more secure than traditional cash and check payments. This is because online payments track IP addresses (physical locations) and login credentials for every person who signs onto the rent payment portal.

    These details help distinguish a device from thousands of other devices online in the area, and incorrect details can indicate when there has been a problem. Combined with timestamps, IP addresses can be used to verify the validity of a transaction, especially if you or a tenant notice something amiss in your records. The addition of these data points is a clear strength of the online approach, and it helps facilitate communication about potential security breaches and other concerns between landlords and tenants.

    Record dates and timestamps

    As mentioned, dates and timestamps are another important data point that is beneficial to collect. Online platforms record these details automatically, and they can hold both you and the tenant accountable. For instance, a tenant may be able to claim that they dropped a check in the drop box at 11:00 p.m. on the day rent was due, but how would you know for sure whether it wasn’t really the next morning? There’s no way to confirm exactly when your tenant paid (or, in the case of cash, even how much their payment was).

    To solve this problem, online rent payments automatically record the exact time a payment was made, providing you with a benchmark you can use to apply late fees and hold tenants accountable. Plus, if a tenant doesn’t remember having made a payment at a certain time, you can investigate potentially fraudulent transactions much sooner.

    Auto-generate invoices and receipts

    Part of transparency is making sure all parties understand what is expected of them. That’s where invoices and receipts come into play. By providing your tenants with an automatically generated rent payment invoice each month, you can gently remind your tenants of the rent due date and encourage them to make more payments before late fees are applied. Additionally, if changes are made to the agreement or special circumstances of any kind, you can make these changes on the backend and still ensure your tenant receives the correct invoice at the correct time. And after each payment they make, your tenants will receive a receipt verifying the amount, date and time of the payment. There’s no better way to stay transparent with your rent collection process than to inform your tenants that their payments have been received on time, in the correct amount, right after they make them.

    Know exactly when your funds come in

    Online rent collection can also offer you transparency benefits. On some property management software platforms, for instance, you can use rent payment tracking to find out exactly when your funds are expected to hit your account. If tenants are not paying rent on time, you’ll know that as well, and you can still track the progress of the transaction until it’s finalized and the funds are deposited into your bank account.

    Related: How Successful Landlords Approach Rent Collection

    Keep a history of rental payments

    Lastly, online rent collection creates transparency for both you and your tenants by keeping an accurate history of rental payments. For each tenant, your rent payment platform keeps a rent payment ledger — or a history of all the transactions between you and that tenant. This increases transparency because your tenant doesn’t have to take your word for it about whether a certain fee was charged months ago or how many times they’ve had late payments. Instead, both you and the tenant can see the details of every transaction at any time.

    There are so many reasons to adopt online rent collection that we didn’t cover here. But as transparency is the foundation of good communication and lasting relationships, it’s no wonder that incorporating it into the rent collection process leads to better landlord-tenant relations and longer tenancies. By switching to online payments, you can serve everyone’s interests while looking after your business, too.

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    Dave Spooner

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  • 5 Sales Call Mistakes That Are Costing You Coaching Clients | Entrepreneur

    5 Sales Call Mistakes That Are Costing You Coaching Clients | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Before I became a business coach, I spent a year as a Director of Sales, helping scale a multi-seven-figure coaching business with one of my best friends.

    Our team took hundreds of sales calls every month, and each week, I would study them to figure out what we did well and how we could improve. Along the way, I discovered a few big mistakes we were making that decreased the chance someone would buy from us by 50% or more.

    If you’re a coach who sells a high-ticket program over the phone, avoiding these mistakes is a proven path to signing more clients, increasing your income and making a bigger impact through the work you do. I only wish I would have discovered them sooner.

    Let’s dive in…

    Related: The 5 Best Actions You Can Take to Improve Sales Calls

    Mistake #1: Selling with the wrong intentions

    A coach recently reached out to me because he was struggling to grow his business and wanted help.

    I asked him, “What do you do before every sales call?”

    He said, “I pump myself up and tell myself — ‘I know I’m going to close this deal.’”

    It’s no surprise to me that he was having trouble.

    Imagine you’re going out on a first date. Do you want to have dinner with someone whose goal is to sleep with you later that night?

    Probably not.

    Your potential clients feel the same way. Nobody wants to get on a sales call with someone who wants to “close” them.

    What people do want is an advocate — someone who can show up in the heart of service, unattached to making a sale, focused instead on figuring out how to get them what they want.

    Don’t show up to a call trying to close the deal. The less attached you are to making a sale, the more likely it is to happen.

    Mistake #2: Not listening enough

    My top sales reps spent up to 80% of their calls asking questions and listening. My less experienced reps spent far more time talking, pitching, convincing and, in general, running their mouths.

    For someone to want to work with you, they need to feel seen, heard and understood. You do this by listening, not by talking.

    When in doubt, ask more questions. The more time you spend talking, the lower your close rate will be.

    Mistake #3: Pitching the process

    Your prospects don’t care that much about the nitty-gritty details around working with you.

    What really matters to them is…

    How will my life be different after we work together? And will this be worth the pain of hiring you?

    My average sales reps would overwhelm prospects with details about our program, dragging them into the weeds of how we could help them and what every step of the process would look like.

    On the flip side, my best sales reps pitched very differently. They focused primarily on outcomes and results instead, painting in vivid detail what someone’s life would look like after working with us. This was far more effective.

    Related: 6 Simple, Proven Methods to Improve Your Sales Skills

    Mistake #4: Pushing for the close

    People value freedom and autonomy above everything else. Your prospects want to feel in control during the sales process — like they have the power to determine how and when things happen.

    Sales pressure threatens this freedom and autonomy. When you try to force someone, however subtly, into taking a step they’re not yet ready to take, you’re trying to take their freedom away. This is why people hate sales pressure and why it will almost always doesn’t work.

    My best sales reps were intuitive and attentive on calls. Rather than defaulting to going for the close, they felt out where someone was at and whether or not they were ready to commit. Sometimes the people they spoke to were right there and just needed a little nudge to enroll. Other times, they sensed someone wasn’t ready and allowed them more space and time to process and think things through. This approach is much more effective.

    Mistake #5: Being their friend instead of the leader

    My average sales reps would spend up to ten minutes building rapport on calls — talking about someone’s family, where they grew up, what they did this past weekend, etc.

    My top reps didn’t waste this time. They’d spend a minute or two with casual chat, but then they would get down to brass tax.

    Being overly focused on building rapport usually comes from a place of neediness. It’s something you do when you’re trying to impress someone.

    The message you’re sending people when you do this is, “I need to convince you to like me.” This actually repels prospects, rather than attracting them to you.

    Instead, show up to a call focused on what someone came there for. If someone reached out to you, it’s because they need help. They don’t want to spend ten minutes talking about the vacation they just went on. They want you to take the lead, figure out what’s going on and how you can help. So, get to the point instead.

    If you can avoid these mistakes, you’ll sidestep the biggest issues that kept my team stuck and increase your close rate immediately. That means more coaching clients, more income and a bigger impact on the lives of your clients.

    Remember that sales is a skill that you can develop with practice over time. I’d encourage you to do so, as it will have a huge impact on your success.

    Happy selling!

    Related: I’ve Conducted More Than 500 Sales Calls Over the Past Few Years. Here Are 5 Tips for Having Better Sales Conversations.

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    Jason Moss

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  • How to Grow Your Business When You Have No Idea What You’re Doing | Entrepreneur

    How to Grow Your Business When You Have No Idea What You’re Doing | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Starting a business, let alone growing one, is not for the faint of heart. It takes time, patience and a lot of humility. In 10 years of owning my own business, our growing pains have had their own growing pains, but at this point, I can safely say they have transformed into gains.

    I’ve learned the hard way that expansion is a necessary step in growth, but doing so in a manner that doesn’t feel like two steps back for every one step forward has been the most challenging part for me. Growth should be an exciting process that couples a thoughtful approach with some creative bootstrapping and an unwavering “go get ’em” attitude.

    Sometimes growth proceeds only one slow step at a time, but that one step may be critical to the future of your business, so dedicate yourself to making each advancement as “right” as it can be, followed by another and then another. This will likely take some fine-tuning and adjusting. You couldn’t learn the ropes of first grade until you’d mastered kindergarten (yes, as a mom of five, parenting analogies consistently make their way into my writing!), and the same philosophy applies to business.

    Here’s how to identify focused steps to take to grow your business.

    1. Careful planning and strategic decision-making

    The importance of careful planning and strategic decision-making cannot be overestimated but is often overlooked when you’re running full steam ahead toward business growth. The last thing business owners need is wasted time on unnecessary work that could’ve easily been avoided with a little thoughtful preparation. Speaking from my own experience at the helm of R Public Relations, I decided to embrace one instrumental but utterly simple expansion strategy: finding my firm’s service niche area and sticking with it.

    The truth is, my firm and my team can do more than we actually do, but we had to start saying no to services we didn’t really want to focus on so that business growth would be in the right direction. Mine is a PR company, and yet at one point, I had more content writers and editors on staff than publicists. So I had to shift that imbalance, stay hyperfocused on our service niche and then use that very service to promote ourselves, brag about ourselves and show our potential clients how good we are at shouting the good news from the rooftops.

    Related: Why You Should Never Treat Your Business As A Side Hustle

    2. Finding your client base

    Just like I had to narrow my circle of employees and contractors to those who would most directly contribute to business growth goals, I had to zero in on the client base I wanted to feed my business by offering products and services that would most appeal to them. This step involves understanding your customers’ needs and wants — both current and future — and conducting market research to determine them. You don’t have to have a degree in data analysis; you just need to be a good listener when speaking to your clients. If you ask and show genuine interest, they’ll tell you exactly what they want from you that will keep them on your roster and, in turn, keep your business growing.

    Related: The 7-Step Guide To Finding the Right Clients and Avoiding the Ones Who Waste Your Time

    3. Setting pricing and service offerings

    I’m frequently asked, “How much should I charge for so-and-so?” You can’t stay in business if you don’t get paid appropriately for what you deliver, but just expanding your menu of offerings to bring in more revenue isn’t always (or even usually) the best route to growth. Diversification and specialization can make all the difference, so when you’re reassessing your service line, make tweaks where needed and, in some cases, eliminate some services altogether.

    In my firm’s case, we took inventory of all the feedback we received from our clients, and guess what we found out? We were providing not only more than they were asking for but much more than they were paying for! Not good.

    When we raised our prices to keep in line with costs, client demands rose in kind. I ended up with a burnt-out staff and clients with unclear expectations until I eventually realized that the trick was to scale back on extraneous services without disrupting client satisfaction. In other words, we stopped overdelivering and instead set definite and finite targets that could track both client growth and our own. We defined and set a value for our services so that we could price them properly and better manage client expectations.

    4. Understanding your market landscape

    This step could just as easily be labeled “stalking your competitors,” and there’s no shame in that. In fact, you can learn a lot from scoping out what the competition is doing and then figuring out ways to do it better or differently or with more personalization. When I was just starting out in the hospitality market, there was a “cool kid” on campus, and we wanted to be cooler. So we’d pitch to the same clients and often win — maybe based on price or our extreme commitment or a combination of both; but the point is, we learned how and what to pitch precisely by following the lead of our competition and then putting our spin on their moves.

    Continually assessing where you can stand out in your market and how you can actualize your exceptionality keeps your current clients from jumping ship and attracts new clients to the buzz you’ve created around yourself. And you can achieve this with a small team and a small budget. When I had limited amounts of both, I prioritized deepening my relationships with my clients through active listening and customization. In the process, I gained valuable insights into market preferences that allowed my firm to tailor strategies to current market trends, strengthen existing client bonds and foster new ones.

    Related: Starting a Business: How to Start a Business in 12 Steps

    5. Being passionate about what you do

    Clichéd as it sounds, truly loving your business — thriving off what you do — is the single most valuable key to business success. Clients want to work with you when you’re enthusiastic, energized and fun. When your passion for what you do is visible, it becomes a viable path to growth because people want to join you on that path, follow you on that path and share in the rewards that come from an enjoyable journey to a set destination.

    I’ll keep walking that path, recruiting fellow travelers wherever and whenever I can, because we’re all aiming for the same thing: successful, blossoming businesses that stand the test of time and evolve with an ever-evolving marketplace.

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    Emily Reynolds Bergh

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  • Starting a New Venture? Don’t Make These Research Mistakes. | Entrepreneur

    Starting a New Venture? Don’t Make These Research Mistakes. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    During challenging economic times like we face today, most smart entrepreneurs see both more opportunity and increased risk. So, when it comes to starting up a new business venture, it’s more important than ever before to guide your decisions with data.

    But as a leader in the insights industry, I see traditional research methods failing today’s entrepreneurs. When you’re dreaming of disrupting an existing market or upending the way a problem is solved, the status quo doesn’t offer the blank-page flexibility that you need to evaluate the soundness of your instincts.

    Leaders looking to pivot need to make intelligent, informed decisions at rapid speed. So if you’re thinking about starting a new venture or expanding your side gig, here are some research mistakes you absolutely must avoid if you’re looking to make a real impact in competitive marketplaces.

    Related: I Accidentally Became a Successful Entrepreneur. Here Are 5 Mistakes I Learned to Avoid When Starting a Business

    1. Letting surveys write the script

    Quantitative surveys are tempting because they’re cheap, quick and inclusive in terms of demographics and geography. But they also have a serious depth problem. The questions are often too restrictive to net you truly authentic insights. You often get superficial answers that don’t offer the context you need to fully understand market potential.

    If you’re trying to figure out a brand-new vertical, asking static questions about the world that currently exists isn’t going to get you where you need to be in order to understand if you’re making the right call.

    What to do instead

    There’s a reason why so many experts in the insights field refer to this as a discovery process: If you go into it believing you already know what you’re going to find, you’re simply going to have your preconceptions reaffirmed.

    You need to throw out the script and talk to people. That’s not to say quantitative research isn’t useful — it absolutely is. But to capture the nuance that comes with rich emotional reactions and body language, you also need to speak to your potential audience in a way that enables them to share the “why” and “how” behind the “what.”

    Instead of asking presumptuous questions like, “Would product X solve your problem?” you should have conversations with your target audience and allow them to tell you about their pain points. This tests your assumptions about the marketplace and prevents your biases from distorting the findings.

    2. Relying too much on focus groups for the big picture

    Considering the limitations I just detailed regarding quantitative research, you might be tempted to gather feedback through focus groups. Though more expensive, this option does solve many of the problems quantitative surveys pose. However, it creates a whole new set of issues to work through.

    Assuming you want to convene your focus groups in a physical space, you’ll be limited to local participants and those with relatively flexible schedules. Does that fully capture the demographics and geographies you’re trying to reach? Very likely, it won’t. What about people who work during the day — will they take time out of their busy calendar to come to your focus group? How about those with disabilities or challenges with transportation? Are you ensuring they are fully represented?

    Even if you decide to convene focus groups in a remote environment, these sessions traditionally require participants to share their opinions in front of others, leading to groupthink and biased results, not to mention the challenges of accurate recall. These are all deadly factors when it comes to launching new ideas or exploring new possibilities.

    Related: If You Really Want to Understand Customer Needs, Avoid Surveys

    What to do instead

    To discover a world that doesn’t exist yet, you must be wary of the status quo. But thanks to the technology we carry around in our pockets every day, there are some really simple ways to break away.

    You can ask study participants to use their phones to record videos of themselves using products in the moment as they would in their daily lives, or even when they’re shopping in-store or online. Without a moderator to lead the discussion, participants will subconsciously feel more free to take you along on their journey, and this is where the real innovation comes in.

    Honest, raw and uncut opinions from actual consumers will help bring your idea to life or show you where there might be an unmet need or improvements that can be made. This approach enables you to understand at a really deep level what your audience desires and how to structure your offerings to stand out. It will uncover real usage trends and hidden insight gems. And not only that, the asynchronous nature of this kind of research allows you to avoid schedule-based biases and embrace the geographic and demographic diversity that’s necessary to understand a global customer base.

    This economic moment offers incredible opportunities to those looking to strike out in a new direction. Leveraging next-generation research technologies will arm you with the data you need to be part of the next wave of innovation and start delivering experiences your consumers rave about.

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    Nihal Advani

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  • Kristin Cavallari and Emma Grede Share Vital Secrets to Success | Entrepreneur

    Kristin Cavallari and Emma Grede Share Vital Secrets to Success | Entrepreneur

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    How do you ensure your brand stands out, especially in a saturated market?

    It’s a question that several founders explored last month at an event hosted by Chase Ink Business Premier at New York City-based co-working space NeueHouse Madison Square.

    Skims and Good American co-founder Emma Grede moderated the panel with Kristin Cavallari, veteran reality TV star and founder of lifestyle brand Uncommon James; Pernell Cezar, co-founder and CEO of BLK & Bold Speciality Beverages; and Wombi Rose, co-founder and CEO of greeting card company Lovepop.

    In a wide-ranging discussion that delved into first-time founder mistakes, scaling speedbumps, hiring challenges and more, a common strategy emerged — and it’s one critical for any entrepreneur who strives to overcome the obstacles sure to come their way.

    The secret? Leaning into your brand’s authenticity.

    Related: Why Authenticity Is a Key Ingredient to Entrepreneurial Success

    “Selfishly, I’m designing what I want because I feel like I am the customer.”

    Both Grede’s and Cavallari’s brands have no doubt benefited from celebrity culture and the spotlight that comes with it.

    Grede co-founded Skims with Kim Kardashian and Good American with Khloé Kardashian. Cavallari first rose to fame on the reality TV show Laguna Beach: The Real Orange County and went on to star in Very Cavallari while opening Uncommon James’ flagship store in Nashville, Tennessee.

    Grede admits that she thought having Kardashian-famous co-founders meant people would be more interested in them and less interested in her, but that couldn’t be further from the truth. People want to know all of the faces behind a brand — and if what they bring to the table is authentic.

    For Grede, authenticity was there from the start with Good American. She recalls designing for a customer who would want from a pair of jeans what she’d always searched for herself: quality that lasts, holding up without a wash long enough to keep up with a busy lifestyle.

    Cavallari shares that desire to put out products that truly reflect a customer’s wants; it’s how she’s approached Uncommon James from the start.

    “Selfishly, I’m designing what I want because I feel like I am the customer,” Cavallari explains. “I am the girl. In that sense, it’s been really enjoyable — and I don’t want to say easy, but it’s been almost effortless for me.”

    Related: A Guide to Turning Your Customers Into Your Product Designers

    Entrepreneur sat down with Cavallari to learn more about how authenticity has always powered Uncommon James — and where she’s excited to see it go next.

    “I had this fire and this passion in me to show people that I knew what I was doing.”

    Cavallari had an entrepreneurial spirit early on and knew she “needed to lean into the branding world” when she joined The Hills to make the most of her growing exposure. But she was young, and many of the celebrity deals she saw involved stars partnering with other companies, so that’s what she did, teaming up on a shoe line with Chinese Laundry.

    The partnership lasted five years, and Cavallari says she “learned a lot” from the experience. But she couldn’t help but wonder: Why can’t I do this on my own? “I had this fire and this passion in me to show people that I knew what I was doing in the branding world,” Cavallari recalls, “so I decided to launch Uncommon James.”

    In just four months, Cavallari took Uncommon James from idea to launch. During those initial days, the founder admits there was no distinction between herself, her personal brand and her company. But that’s changed over the years — by design.

    “We’re still very much like, the girls on the girl’s trip in Nashville that are out at Broadway — that’s our girl,” Cavallari says. “She’s not afraid to be a little edgy. She likes to have fun, which is still very much me. But I’ve grown up a little bit from that. So we’re also transitioning away from using me so heavily within the brand.”

    Although Cavallari’s move away from being the brand’s face has been gradual, it was part of the plan from the start, hence why she named it “Uncommon James” instead of after herself — to make sure it could “stand on its own.”

    Related: 5 Common Challenges Entrepreneurs Face When Creating a Brand

    “It doesn’t matter if you have a TV show or not…it is all-encompassing.”

    And in a move reminiscent of her early career, the founder harnessed the power of reality TV to generate buzz for the brand in 2018. Very Cavallari documented the opening of Uncommon James’ flagship store — a season of life Cavallari calls “so insane” as she balanced raising three young kids and growing her business.

    But Cavallari’s also “really thankful for that time,” and considers it another learning experience. And once again, it’s one that highlighted just how important it is to keep that original passion alive — that authentic drive — regardless of celebrity status.

    “It doesn’t matter if you have a TV show or not,” Cavallari says. “When you explode overnight, and you’re trying to continue to scale [your company] at that rapid rate, it is all-encompassing. It is stressful. It’s a lot, but it’s really important to buckle down and put your all into it because that’s what creates the success of your company. And then you eventually do get to the other side where you can coast a little bit more.”

    When Uncommon James’ growth reached the point where it wasn’t sustainable for Cavallari to navigate it all on her own, she knew it was time to “hire good people with a lot of experience.”

    And it’s a strategy that’s paid off big time: Cavallari says her marketing team’s “doing better than [she] ever even could have imagined.”

    Now, Cavallari plans to continue scaling the brand that’s stayed true to herself and her customers over the years — and is especially excited about its new skincare line, Uncommon Beauty. Uncommon James will also expand its brick-and-mortar presence, starting with an additional store in Charleston, South Carolina opening this fall.

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    Amanda Breen

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  • 3 Powerful PR Tools Small Businesses Can Use to Soar to New Heights | Entrepreneur

    3 Powerful PR Tools Small Businesses Can Use to Soar to New Heights | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Social media, content marketing and paid media are powerful tools that can drive the success of public relations (PR) efforts. With a plethora of creative options available, such as compelling content on social channels and targeted advertising campaigns, small businesses can now reach more people than ever before with tailored messaging that resonates with their audience.

    Social media platforms enable companies to effectively target key audiences, such as investors or partners, while engaging content attracts new consumers who might be interested in the company’s products or services.

    Additionally, investing in well-placed advertising showcases a brand’s overall credibility, essential for successful relationships within any industry. Ultimately, implementing this cohesive approach results in increased brand awareness and fosters sustainable growth over time by nurturing strong online and offline connections through continuous engagement efforts across multiple platforms.

    By implementing a cohesive PR strategy that integrates these platforms, small business owners can enhance their visibility, build trust with customers and foster sustainable growth through continuous engagement efforts. Let’s explore how to do it the best way.

    Related: 4 Simple Reasons Why Your Small Business Should Have a Public Relations Strategy

    Leverage different channels for PR success

    To effectively leverage different channels for PR success, small businesses should implement a balanced strategy combining organic and paid media. Focus on sharing engaging, value-driven content to build genuine connections with your target audience across multiple platforms like Facebook, LinkedIn or Instagram. Collaborate with influencers and encourage user-generated content showcasing your products or services in authentic settings.

    However, don’t rely solely on organic reach; invest strategically in paid advertising campaigns such as sponsored posts or targeted ads to amplify the visibility of key messages among broader audiences based on their interests or online behavior patterns. Additionally, you can now also harness the power of AI-powered solutions to enhance your PR efforts.

    Social media

    A strong social media presence is essential to achieve PR success. Engaging with your target audience on platforms like Facebook, Twitter, Instagram or LinkedIn enhances brand visibility and fosters lasting relationships with customers and potential clients. To begin crafting an effective strategy, consider establishing clear objectives based on your business goals, for instance, generating leads or driving website traffic.

    Spend time studying successful accounts within your industry and competitors’ activities. Note the type of content that resonates most among users and adopt similar tactics when you create posts tailored specifically for each platform’s preferences.

    Be mindful of how frequently you share updates — consistency matters as much as quality. Keep track of key performance indicators such as engagement rate or number of new followers acquired over a certain period.

    Related: The Major Benefits of Social Media for Small Business Owners

    Content marketing

    Utilize diverse content marketing strategies to attract and engage your target audience.

    For example, repurpose a single piece of well-researched content into various formats, such as podcasts or webinars, to reach more potential customers across different platforms while providing valuable information. Convert data-driven research into visually appealing infographics to enable the audience to quickly grasp key insights. Offer customized white papers tailored to specific buyer profiles to demonstrate an in-depth knowledge of industry pain points and increase credibility among prospects.

    Maintain an active presence on reputable forums to foster trust between businesses and thought leaders. Contribute authentic expertise to build credibility for driving continued growth and brand recognition nationwide without relying excessively on traditional advertising efforts alone.

    Don’t forget to leverage AI-powered content creation tools to enhance your PR efforts. These tools employ advanced natural language processing and machine learning algorithms to generate high-quality content.

    Paid media

    Expand your reach with various paid media channels to maximize the effectiveness of your PR campaigns. Consider integrating several options into your advertising strategy to reach more potential customers. Invest in search engine ads, like Google Ads, to ensure higher visibility among users researching products and services similar to yours.

    Video platforms like YouTube can also be powerful marketing tools if employed strategically, as many consumers discover new brands via engaging video content. Don’t overlook traditional print advertisements either, as they can have a long-lasting impact on local markets or niche industries where newspapers and magazines remain relevant sources of information.

    Explore different paid media outlets suited to your target demographic’s preferences to ensure seamless communication between businesses seeking exposure and individuals eager to learn about them. Finding an appropriate balance is key when leveraging various channels for PR success while staying mindful that consumer trust in earned or owned media typically outweighs reliance on purely sponsored adverts alone.

    Related: How to Make the Most of Your Public Relations

    Creating a cohesive PR strategy

    When crafting a cohesive PR strategy, small businesses must consider the integration of social media, content marketing and paid media campaigns. A vital aspect is monitoring key performance indicators to ensure their efforts deliver tangible results. To achieve this seamlessly, you should utilize tools that help analyze audience engagement across each platform alongside click-through and conversion rates.

    You should regularly review these metrics to adjust strategies for optimal impact on business growth objectives. Furthermore, you should encourage collaboration and clear communication within your team by assigning distinct roles and responsibilities concerning digital marketing initiatives, ultimately leading to success in public relations endeavors with an integrated approach combining all facets of modern promotion techniques.

    Agility is the key to success in marketing and PR. Different channels should be leveraged for maximum efficiency, as each would lead to different results depending on audience reachability and the cost involved. It’s important to understand how paid marketing (using ads), owned media (own content) and earned media (influencers/media) work together for a successful PR campaign and get the desired result within a limited time frame.

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    Sonu Yadav

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  • What to Know Before Partnering With a Software Solutions Provider | Entrepreneur

    What to Know Before Partnering With a Software Solutions Provider | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    A timeless quote from a well-known literary work captures the essence of how businesses strive to navigate through uncertain times. It says:

    “… we must run as fast as we can, just to stay in place. And if you wish to go anywhere, you must run twice as fast as that.”

    While companies reduce IT departments and seek ways to improve budget allocation, the work scope is decreasing along with the need for expertise in software engineering. This has made partnerships with external software development companies so popular these days as it helps to fill in such gaps. These numbers speak for themselves:

    In this article, I’m sharing three of the most effective approaches to partnering with software solutions providers and explaining the cases where each of them works the best for ROI optimization.

    Related: 5 Things to Consider When You’re Hiring A Software Outsourcing Partner

    Dedicated development team

    A dedicated development team works on a long-term basis intending to include all client’s requirements in software solutions and align them with the company’s strategic objectives. It consists of experts needed to create a project from scratch. In this case, the client transfers responsibility for administrative, HR, tax and social benefits matters to its tech partner.

    Let’s imagine you plan to upgrade IT infrastructure in the company. Your goal is to make it smooth and minimize any problems or disruptions that might occur. It’ll take time to find a talented IT Infrastructure architect, and there is no guarantee that the person found is right for the project. On the other hand, partnering with a dedicated development team with such expertise will ensure faster change implementation.

    To develop the Experimentation Platform and help drivers make wise parking and traffic-related decisions, Ford involved experts from IBM. Leveraging IBM Analytics delivered through the IBM Cloud, this partnership facilitated the continuous flow of data. As a result, Ford introduced a groundbreaking tech solution that also finds application in other companies’ projects.

    The areas in which partnering with a dedicated development team brings the most business outcomes are:

    Team augmentation

    When a business chooses to collaborate with a software development company on the team augmentation model, this means enhancing the existing group of engineers with new professionals. The terms of this cooperative agreement specify that the involved professionals are required to allocate their efforts to specific tasks, and compensation is based on the number of hours worked.

    Here’s how team augmentation works within the company: Suppose a growing ecommerce business wants to develop a mobile application with a specific 3D functionality. The in-house team is already working on this project, but they lack experience in creating some 3D features. Rather than waiting for the team to acquire these skills, the company finds a software engineer from a third-party vendor.

    Cases when the tech team augmentation for businesses works the best:

    Related: 4 Mistakes Not to Make When Choosing A Software Development Company

    Managed services

    Managed services is the practice of transferring responsibility for specific functions within the software development department to third-party service providers. Namely, they monitor, maintain and optimize the systems, acting as a trusted advisor.

    Imagine you plan to create or restore data backup. This requires a group of cybersecurity specialists and back-end engineers who will regularly maintain the company’s digital file storage and look for solutions to facilitate search and collaboration. By partnering with a managed services provider and getting access to experts, businesses minimize the risks of file damage, loss or unauthorized access.

    Managed services is a great option when a business needs services like:

    • Hosting/cloud operations

    • Infrastructure support

    • Cybersecurity services

    In the face of skill shortages and budget constraints, partnering with external software solution providers is a workable way for businesses. Although dedicated development team, team augmentation and managed services offer companies exclusive expertise and economically justified conditions of cooperation, they fit different business goals.

    The outlined specifics and differences between these partnership models will help you to choose the right approach to address skills gaps and optimize the whole operations’ efficiency.

    Related: Why Outsourcing Software Development Services Is Gaining Traction With Non-Technical Leaders

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    Slava Podmurnyi

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  • How ‘Productizing’ Your Services Can Boost Your Coaching Business | Entrepreneur

    How ‘Productizing’ Your Services Can Boost Your Coaching Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In the evolving global economy, coaching businesses play a crucial role. A significant trend in the coaching market is tool consolidation, driven by the need for smoother business operations and improved client experience.

    However, coaching businesses often struggle to scale due to outdated tools. This has led to a shift towards product thinking and software innovations, which can enhance client service and scalability.

    Related: How to ‘Productize’ Your Service Business Offerings

    Product thinking in coaching services

    Product thinking is about creating and delivering customer value by focusing on the user experience, needs and pain points. It involves a deep understanding of the target audience and applying this knowledge to design, develop and improve products, services and client experience.

    For coaching services firms, adopting a product-thinking mindset can increase client satisfaction, engagement and retention, ultimately driving business growth.

    Key aspects of product thinking include:

    • Understanding the client’s needs: Coaching services firms need to empathize with their clients to identify their requirements, challenges and aspirations. A study by McKinsey found that companies that prioritize customer experience (CX) have the potential to increase their revenue by 5-10% and reduce costs by 15-25% within 2-3 years.

    • Personalization and customization: Product thinking encourages coaching vendors to offer tailored solutions to clients, which is highly valued in the coaching industry. Research by McKinsey revealed that 80% of consumers are more likely to do business with a company if it offers personalized experiences.

    • Scalability and growth: By treating coaching services as products, firms can develop scalable and repeatable processes. This mindset enables them to grow efficiently, just like successful SaaS companies.

    • Metrics-driven approach: Product thinking emphasizes the importance of measuring success through key performance indicators (KPIs). Using data-driven insights, coaching services firms can optimize their offerings and make informed decisions. A study by PwC revealed that data-driven organizations are three times more likely to report significant improvements in business performance.

    Related: How Service-Led Firms Can ‘Productize’ Knowledge & Boost Revenue

    Modern consumer habits and coaching services

    Modern consumer habits have significantly influenced the delivery of coaching services.

    Traditional marketing avenues are losing their effectiveness, and the cost of acquiring new customers is on the rise.

    1. Declining social media reach: A decade ago, the average Facebook page enjoyed a 16% organic reach. Today, it’s down to approximately 8.5%. Even Instagram, which performs better, sees its rates dropping annually.

    2. Search engines losing traction: In 2020, 65% of Google searches ended without a click. The rise of zero-click searches and advertising has shifted search behavior. AI technologies like ChatGPT are expected to accelerate this trend.

    3. Attribution software limitations: If you’re using attribution software, you’re likely seeing Google pop up more often than it actually contributes as a lead source. Asking “How did you hear about us” upon conversion can provide a clearer picture of your lead sources.

    4. Overlooked data sources: Social media platforms, podcasts, online communities, word-of-mouth referrals, blogs or events often provide valuable insights into your network effects and demand generation opportunities.

    5. Email becoming cluttered: 33% of marketers surveyed by Hubspot identified low open rates as a major hurdle. Email response rates fell by about 40% last year. Our user research revealed an 88% dissatisfaction rate among clients when their coach communicates via email due to a disjointed engagement experience and overwhelming clutter.

    With this decline in organic reach across social media, search engines and email, it’s time for businesses to reevaluate their GTM strategies and align with contemporary buyers’ preferences.

    Our findings at Profi emphasize the principle of Value > Volume, with 83% of professionals believing that producing higher-quality content and engagements less frequently is more effective.

    In today’s digital age, customers, whether in the SaaS or professional services markets, have come to expect the opportunity to familiarize themselves with products or services before making a commitment.

    This shift in consumer behavior has led to the rise of a product-led model, which has demonstrated remarkable success in the SaaS industry and holds significant potential for professional services as well. This model prioritizes delivering value upfront, allowing potential clients to experience the benefits of your services before they decide to invest.

    By adopting this approach, you can align with your clients’ preferences, build trust and improve your business metrics. In fact, companies with product-led growth (PLG) motions outperform peers on Customer Acquisition Cost (CAC) payback:

    “Companies that see discoverability and a robust free product as core to their strategy return CAC costs four months faster than their peers.”

    Related: 3 Insider Tips for Creating a ‘Productized’ Business (Even if You Offer Services)

    The role of productization in coaching services

    Productization refers to turning services into scalable, standardized product experiences. It’s essential for effectively scaling and maintaining consistent quality for professional coaching services firms.

    By incorporating best practices and lessons from the SaaS industry, coaching services can achieve greater client satisfaction, increased revenue and reduced operational costs.

    Best practices for productizing coaching services

    • Hyper-personalized service packages: Design service packages that resonate with your Ideal Customer Persona (ICP) on an emotional level, based on the Jobs To Be Done (JTBD) theory.

    • Standardized service delivery: Develop standardized processes for consistent coaching services. Regularly monitor your clients’ perception of your brand and services through surveys and Net Promoter Score (NPS).

    • Pricing strategy: Establish transparent, tiered pricing models that align with the value provided by each service package. Regularly review your pricing strategy to ensure it reflects the value you provide, the market rate and your business goals.

    • Performance tracking: Use key performance indicators (KPIs) to measure the effectiveness of your coaching services. Use these insights to optimize and refine your offerings.

    • Technology adoption: Use technology and digital platforms to streamline service delivery, manage client relationships and track performance metrics.

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    Alina Trigubenko

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  • How to Stop Online Marketplaces From Robbing Your Brand | Entrepreneur

    How to Stop Online Marketplaces From Robbing Your Brand | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Marketplaces have become extremely influential in ecommerce over the past three years. Major market players such as Amazon, Alibaba and JD attract millions of users, facilitating massive transactions across a wide range of product categories.

    They also generate a wealth of data on consumer behavior, preferences and trends. This strong market position gives them an advantage and the ability to charge unreasonably high commissions, basically robbing brands.

    The rise of marketplaces

    The journey of marketplaces goes back to the early days of the Internet when platforms such as eBay and Amazon pioneered the concept of online commerce. Founded in 1994 as an online bookstore, Amazon has evolved into a comprehensive marketplace offering a wide range of goods. eBay, launched a year later, popularized the concept of consumer-to-consumer online auctions. China’s JD.com and Alibaba also burst onto the market in the late 20th century.

    With the growth of ecommerce, niche and vertical platforms began to flourish. They focused on specific industries or product categories. A prime example is Etsy, a marketplace for handmade and vintage goods founded in 2005. And as technology has evolved, so have the capabilities of marketplaces. The introduction of secure payment systems, improved search algorithms and user-friendly interfaces have provided a new level of convenience, trust, and efficiency in online shopping.

    However, it wasn’t until after the pandemic that marketplaces took off. The year 2020 was a stellar time for them and e-commerce in general. Online platforms have become critical for brands to reach a broader customer base. In 2021, a whopping 42% of all online purchases were made through marketplaces. The convenience of shopping from home, the ability to compare prices and read customer reviews, and the seamless transaction process for customers have contributed to the rapid growth of online platforms. And in 2022, almost two-thirds of consumers said they were happy to be able to order everything they needed through one merchant.

    By 2027, third-party marketplaces will become the world’s largest and fastest-growing retail channel, accounting for nearly two-thirds of online sales. Amazon, Alibaba, Pinduoduo and JD.com are expected to generate $4.3 trillion in global sales, up from $2.5 trillion today. Experts say that the most successful retailers, both now and in the future, will operate third-party marketplaces, and consumer brands must align with them to flourish in this new retail environment.

    Although the concept of marketplaces itself is beneficial, including for brands, the strong position of online platforms has allowed them to dictate their terms to sellers and vendors and practically rob them.

    Related: 7 Revenue-Killing Mistakes for Ecommerce Retailers

    How online platforms make money on brands

    In the early days of marketplaces, when they needed to attract new suppliers to basically unknown platforms, contract conditions for vendors and commissions for sellers were usually based on a small percentage of the transaction amount. As marketplaces expanded and diversified, they introduced tiered commission structures to incentivize sellers with high sales volume. Those who achieved such volumes or met specific performance criteria could qualify for lower commissions, which offered a potential savings advantage.

    With time, marketplaces expanded their revenue streams by introducing additional services. They included premium placement in search results, featured listings, advertising options, and other services such as fulfillment, delivery, and marketing support. With these, marketplaces generate additional revenue while allowing merchants to increase their visibility. The problem is that though online platforms aim to increase the effectiveness of services and tools offered to sellers, their main goal is still to earn more by raising the penetration of those products, not optimizing sales for specific brands.

    As a result, Amazon, for example, now gets more than 50% of sellers’ revenue on average, compared to 40 percent five years ago. Sellers are paying more because Amazon has increased fulfillment fees, making advertising costs inevitable. The typical Amazon seller pays 15% per transaction, 20-35% for order fulfillment, and up to 15% for advertising and promotions. The cost of Fulfillment by Amazon, when Amazon stores, picks, packs, and ships orders, has been steadily rising, and there are few success stories of operating outside of this model. Advertising is optional, but it takes up most of the screen with the best conversions, so sellers inevitably have to buy Amazon advertising services to get noticed.

    The company has even been sued recently. According to the claim, Amazon penalizes sellers for failing to set the optimal price for their products by demoting them in search results and disqualifying products from the “Buy Box” feature, a white box on the right side of the Amazon product detail page, where clients can add goods for purchase to their cart.

    The power of AI

    With the growing influence of artificial intelligence, companies can now leverage AI to expand their presence, optimize operations and ultimately generate more revenue. We estimate that the global retail AI market will be worth about $350 billion by 2032 as more companies realize the benefits of neural networks and take advantage of them.

    Marketplaces already use AI-based tools that provide valuable insights into consumer behavior, campaign performance, and keyword search. Their main goal is to increase sales, and algorithms help them calculate which sellers’ products are worth promoting to maximize overall revenue. Online platforms analyze customer buying behavior, items in the shopping cart and the most viewed items to make recommendations, predicting what each client is likely to buy.

    Brands, too, can use AI to get to the top of marketplace search and increase the share of sales in their categories at the expense of internal marketplace traffic. However, sellers cannot access marketplace AI models. Platforms keep information about their developments secret and notify merchants of updates only when they occur. In Amazon’s case, Amazon Vendor Service can be used to access some of the AI functionality, but it increases the cost of doing business. At the same time, the service itself remains a black box. It means that brands cannot use platforms’ AI to promote their products. It also means they need third-party solutions to do so. What exactly would such AI solutions offer them?

    Related: How to Leverage the Power of ChatGPT and AI to Boost Your Shopify Store’s Success

    1. Intelligent and dynamic pricing

    AI solutions enable brands to implement intelligent pricing strategies. By analyzing market data, competitor pricing, and customer demand patterns, AI can determine optimal price points for products. Dynamic pricing allows sellers to adjust prices in real time based on factors such as supply and demand fluctuations, competitor activities, and customer behavior. This ensures that sellers remain competitive and maximize their revenue potential on marketplaces. Our experience shows that using AI to determine pricing allows sellers to recover up to 6% of previously lost margins.

    2. Intelligent adjustment for performance bids

    Leading marketplaces usually use real-time bidding (RTB) systems allowing advertisers to bid to show their ads to buyers. For example, on Amazon sellers bid on keywords, and the one with the highest bid and the best-targeted keywords usually wins. In other words, the winning bidding strategy is when the buyer’s search query matches the seller’s target keywords.

    With real-time data and advanced optimization techniques, businesses can ensure that their ad spend is used efficiently. AI algorithms can continuously recalculate billions of possible combinations of bids and amounts of budget, campaigns and segments, helping to rebound 20% of previously lost ROIC, based on our experience. Amazon, Alibaba, and JD already use such algorithms for in-house performance marketing.

    3. Efficient inventory management

    AI can optimize inventory management processes for sellers and vendors operating on online marketplaces. By analyzing historical sales data, algorithms can forecast shipments and sales by warehouse and SKU with granularity to organic and promotional sales and high accuracy, identify peak selling periods, and optimize inventory levels. This helps brands avoid out-of-stock or dead-stock situations, reducing storage costs and ensuring a seamless supply chain. Additionally, AI can automate inventory replenishment and order fulfillment processes, streamlining operations and minimizing human error.

    Related: 4 Ways to Use AI to Enhance the Customer Experience

    AI vs. People

    AI has enormous potential for sellers and vendors on marketplaces. By using AI to learn about customers, adjust rates, optimize pricing and manage inventory, brands can improve their competitive advantage, drive sales and increase overall profitability on online platforms.

    AI models also allow brands to save on time and resources of in-house teams and agencies, which, in our experience, companies typically hire to get their products to the top of marketplace storefronts. Сonsider, a medium-sized company from the food industry. Typically, a marketplace team (the one working to distribute products through online platforms most efficiently) includes an e-commerce leader, a manager, a designer, and a marketer. In addition, the company may hire an outside contractor to help its internal team.

    Nevertheless, these people are forced to engage in routine operations instead of using their time to solve strategic problems. With AI, teams can focus not on playing cat and mouse but on developing strategy and launching innovations, while algorithms will help implement them around the clock and in the most efficient way.

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    Pavel Podkorytov

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  • The Importance of Package Testing (and How to Do It Effectively) | Entrepreneur

    The Importance of Package Testing (and How to Do It Effectively) | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Today, customers order most of what they need to their doorstep, from groceries to cosmetics to pet products. And they expect these products to reach them safely, without damage. A broken product, spill or contamination can lead to disappointment, motivating customers to purchase from a competing brand instead.

    In an uber-competitive market, ensuring product quality and customer satisfaction is the cornerstone of business success and growth. And package testing does just that.

    Package testing is an important determinant of product quality and customer satisfaction, covering critical aspects of packaging, like product protection, compliance and regulations, customer experience, brand image and differentiation, cost optimization and new product development.

    In this article, we will explore the significance of package testing, its various types, key steps involved, benefits and tips to help harness your business’s potential for sustainable growth.

    Related: 3 Ways to Optimize Packaging to Protect Your Products

    What is package testing, and why is it important?

    Package testing is the process of evaluating the performance, durability and safety of product packaging. It plays a vital role in ensuring products reach consumers in optimal condition.

    By conducting rigorous package testing, businesses can minimize product damage, enhance customer satisfaction and protect their brand reputation.

    For instance, Amazon is known for its rigorous package testing procedures to ensure products are delivered safely to customers. They conduct drop tests, vibration tests, compression tests and environmental tests to evaluate the durability and protective capabilities of their packaging.


    Types of package testing

    Several types of package testing are conducted to evaluate the performance, durability and functionality of packaging materials and designs. These tests help ensure that packages can protect products during transportation, storage and handling.

    The main types of package testing include:

    • Physical testing: This involves assessing the durability, strength and protective capabilities of packaging materials to withstand handling, transportation and storage conditions.

    • Compatibility testing: Evaluating the interaction between the product and its packaging to ensure suitability, stability and preservation of product quality.

    • Environmental testing: Testing the package’s performance under various environmental conditions, such as temperature, humidity and pressure, to ensure product integrity.

    • Labeling and regulatory compliance testing: Verifying that packaging adheres to legal and industry requirements regarding labeling, warning signs and other necessary information.

    Related: All You Need to Know About Packaging

    Key steps in package testing

    A systematic approach is necessary to comprehensively evaluate and validate packaging materials and designs.

    Here are the key steps to effectively conduct package testing:

    • Define testing objectives and criteria: Establish the goals and criteria for package testing, such as durability, protection and compliance.

    • Select appropriate testing methods and equipment: Choose the most suitable testing methods, equipment and protocols based on the specific requirements of the product and packaging materials.

    • Conduct controlled experiments and simulations: Create controlled environments, and simulate real-world scenarios to accurately assess the package’s performance under different conditions.

    • Collect and analyze test data: Systematically collect data during package testing, ensuring accurate measurements and observations.

    • Interpret results and make necessary improvements: Analyze the test data, identify any issues or weaknesses, and make informed decisions to improve packaging design and performance.

    Benefits of package testing

    Robust package testing offers several benefits for businesses and customers alike. Some of the key benefits include:

    • Ensuring product integrity during storage and transportation: By testing packaging materials and design, businesses can safeguard their products from damage or spoilage during transit or storage.

    • Minimizing product damage and loss: Robust package testing helps reduce product damage, leading to lower costs associated with returns, replacements and customer dissatisfaction.

    • Enhancing customer experience and satisfaction: Well-designed packaging that protects products and enhances usability contributes to positive customer experiences, fostering loyalty and repeat purchases.

    • Strengthening brand image and reputation: High-quality packaging demonstrates a commitment to product excellence and can positively influence customers’ perception of the brand.

    • Mitigating risks and reducing potential liabilities: Thorough package testing ensures compliance with regulatory requirements, reducing the risk of legal issues and liabilities related to inadequate packaging.

    Related: These 5 Clever Packaging Ideas Will Inspire You

    Pro tips!

    Follow these actionable tips to boost your package testing initiatives:

    • Develop a comprehensive package testing strategy aligned with business objectives.

    • Implement robust quality control processes and maintain detailed documentation for traceability.

    • Provide training and education to staff on package testing protocols and best practices.

    • Seek valuable customer feedback to understand their needs and incorporate it into package design, improving user experience and satisfaction.

    • Utilize appropriate testing equipment and technologies to ensure accurate and reliable results.

    Embracing effective package testing strategies can help businesses proactively enhance their ability to deliver exceptional products, foster customer loyalty and achieve sustainable growth in a competitive market.

    Following the key steps and actionable tips outlined above, brands can efficiently test their packages, proactively identify potential issues and enhance key aspects such as product integrity, customer experience and brand reputation.

    Prioritizing package testing throughout the product development lifecycle and implementing the right technologies will enable businesses to stay compliant with regulations, adapt to market changes and position themselves for long-term success.

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    Sriya Srinivasan

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