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If you’re looking to expand your business, franchising your business could be a great option. Growing a company by franchising can offer many benefits—but you need to be aware of the drawbacks, too. To determine whether or not you should franchise your business, we asked members of Young Entrepreneur Council the following question:
When posting a job listing, businesses generally have their go-to, established platforms that they know are frequented by potential candidates. Sometimes, however, a company needs to think outside the box when sourcing talent. Occasionally, the least obvious places to post vacancies may result in the most remarkable outpouring of candidates. That’s why these 12 entrepreneurs from Young Entrepreneur Council (YEC) reflect on the following question:
Businesses never stay the same size forever. An entrepreneur may yearn for the early days when their business was just a handful of people. But over time, businesses find great success and become entities that may span several offices and regions.
Finding funding is typically one of the most challenging parts of starting a new business. The risks versus rewards of investing in new companies can usually have investors worried about jumping in. The responsibility is then on the entrepreneur to make their business idea exciting and attractive enough to warrant investors' attention.
Members of Young Entrepreneur Council offer some effective ways to keep users coming back to your mobile app.
Members of Young Entrepreneur explain how hands-on CEOs can get more comfortable with delegation.
Social media is a place for anyone to express their opinions and beliefs, and often that means talking about controversial topics. Sometimes, a business may post something that sparks a heated debate, or its social media followers might bring up these touchy issues on the business’s page, leaving the brand to come up with a response that won't offend or alienate its audience.
If you carry out social media marketing, then working with influencers is something you need to seriously consider. When you’re a small brand, it can take months of consistent effort, if not years, to build an audience.
When you understand your customer, you can better tailor your products and services to their needs. The most reliable way to get to know who your customers are and what they're looking for is to get that information directly from them. But how can you persuade customers to give you the comprehensive, actionable feedback you need?
The easiest part of opening a business is coming up with the idea and filing the paperwork. The most challenging part often might not be apparent right away. No leader can predict or prepare for every obstacle they might encounter as a business owner, and hurdles can vary by industry and by each entrepreneur. However, with a little insight from more experienced entrepreneurs and the right mindset, you can successfully guide you and your business through any challenge.
Onboarding a new employee is an exciting time for any business. While you're eager to get your new team member up and running on their tasks, you also need to ensure they understand the company culture and will mesh with your organization for the long term. That's why we asked the members of Young Entrepreneur Council (YEC) the following question:
Facing adversity can help you grow in ways you never imagined.
Self-doubt can be debilitating for some individuals. If you're trying to advance your career, the belief that you’re not good enough can quickly put an end to those aspirations. It can make you feel less confident about your abilities, which in turn can make you seem less trustworthy and dependable to others. If you can't believe in yourself, will anyone else?
Programming is highly in demand in today's digital-first world. Try these tools, courses and platforms recommended by business leaders.
Whether it’s frustration from limitations in their current industry or being shaken by the instability of the job market during COVID-19, many professionals are starting over in their careers, possibly in a new industry entirely.
Whether it's hyperfocusing or scatterfocusing, there is more than one way to drive productivity.
Everyone online shopper has added items to their cart, only to close out of the website before completing the purchase. This behavior has led to an average online cart abandonment rate of 60% to 80% for many e-commerce sites.
16 entrepreneurs from YEC share their favorite sales automation tools and strategies and explain why they work.
When you first start your business, every member of the “founding team” -- i.e. you and your first employees -- is crucial to its early success. As your business grows and changes, there may come a time when you feel yourself starting to outgrow your original employees.
Blogging is a great way to share information and valuable content with your audience. It also brings a great chance to send potential consumers your way based on your search engine optimization (SEO).
New entrepreneurs sometimes fall into the trap of thinking that they can make their hobbies profitable through their business. When you're putting together a company, the first thing you may want to consider is whether you're doing this as a passion or for profit.
Public speaking is a great way to gain exposure for your brand and a reputation for expertise in your field. Events with an audience allow for transparency and vulnerability—two key pieces to success when you're working to build a brand that consumers are eager to engage with. Speaking events also help you show off the core solutions your business has to offer.
Occasionally, a business may require a part-time chief financial officer because their full-time employee has left or transitioned to a new portfolio. A part-time CFO doesn't need to have the same skill set as the original office-holder. However, to be successful in their endeavors on behalf of the company, they need to have a series of qualities making them suitable for the position.
The holiday season is usually a goldmine of opportunities for product-based businesses that deploy specific marketing strategies to make their offering stand out and be relevant for that time of the year. While service-based businesses typically find it more difficult to capitalize on this season’s business opportunities, there are still several creative strategies they can deploy to make holiday marketing work in their favor. To help, we asked 12 entrepreneurs from Young Entrepreneur Council (YEC) the following:
When you set out to pitch your idea to an investor, you usually go through the most common questions that they're likely to ask. Discerning investors are careful about where they put their money, but a well-prepared entrepreneur can quickly answer a surprising amount of what they ask.
With most people working from home and away from their office’s internal server, data security is a pressing concern for employers. Companies and employees must make security a priority and understand how to keep their data safe when they’re working outside of their business’s secure network.
With the current corporate focus on remote work, file-sharing and syncing services have become an essential part of the modern office. While some companies have bespoke designed solutions that meet their needs, these can be complicated and clunky to implement, requiring cybersecurity and IT administration input.
Members of Young Entrepreneur Council share their best tips for getting things back on track when your business is going through a turbulent period.
These 20 entrepreneurs discuss the best features for remote management of a displaced workforce.
Using the right tools and tactics can help your customer support team provide the best service.
A website can be a critical marketing tool as long as you manage to keep your audience engaged. Marketing can drive traffic to your website in several ways, with video, text, or image content. But once they get there, how do you keep them there?
Influencers are the newest way of reaching out to social media audiences. Unlike traditional advertising, these influencers have their own goals and ambitions. Influencers thrive on building relationships between themselves and their audiences. Microinfluencers tend to have fewer followers but an even more close-knit community. In many cases, this closer relationship makes it easier for them to convince users of their perspective. When dealing with micro-influencers, businesses should understand what makes this particular relationship work so well. To help, we asked 13 entrepreneurs from Young Entrepreneur Council (YEC) the following:
Staying motivated as an entrepreneur takes a lot of effort. In several situations, business owners find themselves struggling to point themselves in the right direction, whether in their profession or in their personal life. In both of these cases, your inspiration dictates the drive you have to accomplish your goals.
Members of Young Entrepreneur Council share some creative ideas for tech companies that want to leverage more user-generated content.
We all have biases that affect our decision-making. These biases can sometimes be minor and have minimal impact, but other times they can have an outsized and potentially negative influence on your business and how it’s run.
As entrepreneurs, we understand how powerful the classification of personality types can be in recruitment. From Myers-Briggs to Enneagram, the number of ways to gauge a person's innate traits can be measured in a hundred different ways. Several companies use one or more of those personality tests to develop their employees' potentials.
Members of Young Entrepreneur Council share the upcoming technology trends they're most excited about and how they plan to jump on board.
Anyone can find intrinsic motivation in their life.
Remote working has taken the world by storm, as more and more businesses are looking at hiring workers and having them operate remotely. Aside from the convenience of the workers, the company also benefits from higher productivity and worker morale. However, getting those employees onboarded can be a challenging task. Businesses can't rely on the tried-and-true formulae they've used for years to onboard on-site employees and should instead adapt their techniques to cater for remote hires.
Many companies that shifted to remote work during the COVID-19 pandemic have helped employees eliminate their daily commute. However, some professionals do still need to make regular trips into the office – and spending time commuting to work can feel stressful and counterproductive. If you use your time wisely, though, there are plenty of ways to maximize your commute and make it a productive one.
Young Entrepreneur Council members share some upcoming tech trends they believe will have an important impact on business leaders.
When a business advertises for a position, you can be assured that there will be a flood of applications coming in. If you're a young entrepreneur with a small company, you'll be doing most of the application sorting yourself. The first step is determining which applications suit the character, demeanor, and qualifications you're looking for.
As a business owner, you know your company can't remain stagnant and stuck in its ways if it hopes to grow. That growth requires innovation and creativity, both of which are best sourced from everyone on your team.
Members of Yount Entrepreneur Council offer their tips for effectively growing a service-based company.
If you're like the hundreds of content marketers out there that have invested in blog content, you want people to read it. If you've been watching your metrics for visits, you might realize that many visitors don't even bother with your blog. Sure, they might follow a social post from your media to your blog, and possibly read a single entry, but they won't engage further than that.
For online businesses, a high-performing website that encourages engagement and conversions is the key to successful growth. It often takes time to build up a steady stream of website visitors and consistent buyers. However, there are some things you can do to help accelerate the process.
If your company has a blog and social media presence, you know how challenging it can be to keep up with the constant demand for new content. Recycling and updating existing content is a great way to put a fresh spin on what you’ve previously published without the hassle of coming up with a brand-new idea.
Education is a gift that remains relevant, no matter how old you get. Businesses that encourage their employees to experience new things and educate themselves stand to benefit from the new insights their workforce will come up with as a result.
When you start a business, one of the first questions you ask yourself if you should be doing this alone, or if you need help. This decision determines whether your company is a solopreneurship or a partnership. Some entrepreneurs work better by themselves, but others realize the benefit of having a partner.
Motivation works cyclically. There are moments when you feel as though you can take on the world, punctuated by moments when you feel like it makes no sense to do anything. If you've been feeling unmotivated at work recently, you're not alone. Workers worldwide go through the same moments of "boom and bust" when it comes to their motivation.
Online courses can build your customer base and improve your brand image.
Members of Young Entrepreneur Council explain how companies can optimize their mobile shopping experience.
Brand loyalty forms a core concept of marketing in the 21st century. In a paradigm shift, thanks to better interactivity with consumers, brand loyalty is now easier to achieve than ever before. With a medium where the brand can interact directly with clients in the form of social media, all a company has to do is use their social media presence cleverly. Once they leverage their following and provide value to the audience, brand loyalty is sure to follow. To help, we asked 14 successful entrepreneurs from Young Entrepreneur Council (YEC) the following question:
Social media is constantly evolving, as are the ways people use it. What was once primarily used for connecting with old friends and family has morphed into a platform for sharing perspectives and launching campaigns.
Being part of a creative team is an exciting job. However, it’s difficult to always be in an innovative, inspired mindset. Often, creatives experience burnout and roadblocks that hinder their performance.
Master these skills to build a great site that drives awareness and dollars to your brand.
As a small to medium enterprise owner, it can be challenging to find time for anything. Even in your supposed downtime, you invest time into ensuring the company runs smoothly. Work-life balance as an always-busy professional can be hard, if not impossible, to find. When you don't focus on your well-being, both your health as well as your relationships suffer. Being busy is essential for success, but so is knowing when to stake a step back. In such an active lifestyle, however, how does an entrepreneur know how to balance work and pleasure? That’s why we asked 10 members of Young Entrepreneur Council (YEC) the following question:
In today's world, every business knows that consistent, quality content is the key to engaging consumers. Publishing giants like BuzzFeed have mastered the art of drawing people in with engaging headlines and interactive features, and encouraging repeat visitors with well-researched, valuable articles.
When you're negotiating a deal, misinterpreted tone or poorly-chosen words could ruin an otherwise-successful conversation. Sometimes you may not know even which phrases might turn a deal sour. That's why we asked 16 members of Young Entrepreneur Council the following question:
Leadership is a battle for constant improvement.
Come up with creative ways to repurpose your content and engage your audience.
The internet of things (IoT) has given consumers and businesses the ability to make their homes and offices "smart." Because IoT devices can communicate and exchange data with one other, they have vast potential for streamlining workflows and making us more efficient. However, with all the data each internet-connected device collects, stores and uses, there's also an inherent security risk.
Having a side hustle is a great way to develop a creative outlet outside of your regular career. However, these projects can consume a lot of your time, energy and money. That's why it's important to consider the required commitment and effort – and the potential return – before going all-in on your idea.
Getting any business off the ground requires sufficient capital. However, all the financial stress doesn't have to fall on you as the entrepreneur – there are other ways to secure funding for your startup without assuming 100% of the risk yourself. That's why we asked the members of Young Entrepreneur Council the following question:
All entrepreneurs are excited to see their businesses grow, but this growth isn't infinitely exponential. Occasionally, the company's growth may become stalled. This contraction might happen due to any number of factors affecting either the business itself or the industry as a whole.
You don't need to spend a ton of money to build a great business website.
As a leader, you know your workplace dynamic directly impacts employee morale and, in turn, your bottom line. No matter how great your company culture might be, there is always room for improvement. But to make impactful changes, you’ll have to first understand which areas warrant the most attention.
Businesses have seen a period of massive growth, especially those that deal solely with online sales and services. While this development is promising, it also opens up a business to another problem -- that of having their growth outscale their ability to communicate.
It takes time, but allow yourself the opportunity to make meditation a positive part of your daily routine.
Professionals, regardless of their work environment, sometimes find their focus flagging. If you're someone who has to deal with divided attention between multiple tasks, the amount of effort you put into a job will start telling on your psyche before too long. To deal with this situation, you'll have to figure out how to retain your focus and discipline within the workplace.
An employee referral program is a win-win for you and your team. Referral candidates tend to be well-qualified, since they're pre-vetted by staff members you know and trust, and hiring referrals shows you value your employees' input. To help you build a great referral program, we asked the members of Young Entrepreneur Council the following question:
Within any company, the ambitions of individual team members should aid the overall organization. However, it takes a leader to fuel, direct, and inspire this ambition into a way that helps both the team members and the organization as a whole. One way leaders can get their team members to realize their ambitions is by guiding them toward self-teaching and taking initiative, as a way of expanding their knowledge and skills while also seizing new opportunities within the company. To help, we asked 15 members of Young Entrepreneur Council the following:
In all walks of life, there will be pitfalls that plague professionals. For an entrepreneur, especially, it may occasionally feel like nothing is working out, no matter what you do. There's a saying that success only comes to those who get back up each time they get knocked down. The problem is that the saying doesn't detail how you get back up from a fall. Some leaders can find themselves falling over and over, and each time the recovery takes more out of them.
Entrepreneurs can be so busy in today's business world that they lose sight of themselves. Introspection has an essential place in an entrepreneur's mindset. Understanding one's goals and motivations can help one come to terms with what one wants out of life.
As the up-and-coming generation of consumers, Gen Z has become a hot target demographic for many brands. This generation of true digital natives is even more entrenched in the world of technology than the millennials who came before them. Therefore, companies that want to reach them need to go all-in on social media, Gen Z's preferred place to "hang out" online.
If you’re a driven entrepreneur who also wants to make time for family, a home-based online side hustle may seem like a great idea. While this type of work offers more flexibility than a side business you have to run on-location, being at home doesn’t mean it’s easy to find balance.
It takes a lot of mental fortitude for an employee to approach their employer for a raise. There's no playbook for managers and business owners to know how to gauge whether an employee deserves a raise or not. The factors as to whether an employee deserves to earn more can be approached in several different ways. From the addition of value to the support they provide, each plays an integral part in determining whether a raise is warranted. That’s why we asked 10 entrepreneurs from Young Entrepreneur Council (YEC) the following:
It isn't possible to always have high self-esteem, but self-acceptance can get you through all of life's vagaries.
Despite the overwhelming preference for digital media among modern marketers, traditional advertising methods are still being implemented today and driving great results. Newspaper, TV and radio spots can offer tons of potential for businesses looking to reach a local market -- if they're used the right way.
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By definition, creativity is about pushing boundaries and exploring unusual ideas.
Making a major spending decision in your business, whether that be a new hire or a new marketing campaign, is often intimidating. You want to make sure you’re investing your money wisely, in a way that will yield a worthwhile return. To help you, we asked a panel of Young Entrepreneur Council members how to make financial decisions with confidence.
Part of being a leader is constantly learning.
A business is built on the reputation it gets through its dealings. Not all the press a company receives will be positive, however. Depending on how the consumers see the business, a company might have mixed reviews on social media.
A business is built on the reputation it gets through its dealings. Not all the press a company receives will be positive, however. Depending on how the consumers see the business, a company might have mixed reviews on social media.
Personal and business resolutions are easy to make but harder to keep.
Entrepreneurs have habits that can both aid and hamper their efforts to be better businesspeople. Some practices even seem to be completely harmless but we don’t truly realize how damaging they can be until we make a small change that impacts them and shows how die-reaching its consequences are.
It's easy to let the stress of a pending deadline or doubts in yourself impact your ability to get started.
A leader is someone who takes the initiative and drives the business forward to fulfill its goals. Within a company, leaders are responsible for guiding and inspiring those whose departments they lead. Many leaders get to their positions after years of experience and learning what their jobs entail.
Understand and challenge these content marketing myths to take your strategy to the next level.
Everyone feels down from time to time -- especially when you're dealing with the stress of running a business. Those negative feelings can make you question everything.
While it's OK to feel down, the best way to relieve that feeling is to actively seek out positive thoughts. That's why we asked Young Entrepreneur Council members what they do in moments of doubt to help remind them of their potential. Ask yourself the following questions to regain your confidence during a mental or emotional rut.
As your company grows, managing both company-wide and department goals can become more and more challenging. It can feel like a delicate balancing act -- and if it's not coordinated properly, prioritizing broader company goals could come at the expense of the individual departments.
As successful business leaders, the experts of Young Entrepreneur Council have learned how to track their department-specific goals as their companies have grown. That's why we asked a panel of YEC members to share their best tips for monitoring departmental objectives. Here's what they had to say.
The winter months mean less sunlight, colder temperatures and often, dampened moods. It’s common for people to feel more tired and less motivated in the winter, which can negatively impact work performance. However, a winter slump is not inevitable -- it may require a bit of extra effort, but you and your teams can stay just as motivated during those colder months.
To help you out this winter, we asked members of Young Entrepreneur Council to share how they raise spirits in the workplace throughout the season. Follow their recommendations to keep your team feeling productive until spring arrives again.
Incorporate interactivity into your content calendar to enrich the customer experience.
As digital payments evolve and become more commonplace, an increasing number of businesses are accepting them, with some businesses rejecting cash payments entirely. While digital payments can certainly be convenient for customers and businesses alike, it’s important to understand the process and avoid any potential pitfalls.
We asked the members of Young Entrepreneur Council for their takes on digital payments. They shared 10 things you should keep in mind as digital payment options evolve, and how those offerings will impact your business in the future.
Risk is often inherent in business, especially when you’re running your own. However, there are steps you can take to manage that risk.
As highly successful entrepreneurs in their industries, the members of Young Entrepreneur Council have learned a lot about effectively mitigating risk and minimizing its impact on their businesses. We asked them to share some practical tips for new business owners who are also new to risk management. Read on for their best answers.
Office culture doesn't stagnate, and there will always be a constant change around how a business operates. Instituting new office procedures and policies as the company culture changes may mean taking some chances. Not all new plans are guaranteed to succeed, and some of them require considerable risk on behalf of the company.
Focusing your marketing strategy on your community builds the foundation of a strong brand.
Entrepreneurs usually don't have enough hours in a day to get everything done. That's the primary reason why prioritizing tasks is a common trait of the most successful business owners. However, many entrepreneurs overlook the importance of hiring great talent to their team and place the priority of hiring new employees way down their list.
In the age of social media, a controversy -- and a potential public relations crisis -- is always lurking. It's impossible to completely avoid controversial issues and conversations if your business is on social media, but knowing how to handle them with grace and professionalism can save you from landing your brand in hot water. To help you, we asked members of Young Entrepreneur Council the following question:
The world has been enamored with the use of virtual reality ever since the movie “Tron” came out in the 80s. Today's VR is a bit different from the fancy world of the silver screen, but the technology has a lot of practical uses.
By showing your audience that your products have a vocal and satisfied user base, you’ll see increased engagement, traffic and conversions.
Influencers play a crucial role in consumer buying decisions, and you have the opportunity to harness that power.
Internet security is a big concern for business owners and their customers, but you can take steps to stop hackers in their tracks.
It’s safe to say that the recent emergence of AI in marketing is just the beginning.
Mastering video is well worth the effort to reach consumers.
Online customer interactions have largely taken the place of face-to-face ones.
When workers care about what they do, they are more likely to stay with a company and deliver an excellent customer experience because they are happy to be there and engaged in the company culture and values.
Automation has made customer personalization one of the most important tools in a marketer’s tool belt.
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