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In the fiercely competitive business landscape, creating a loyalty program that resonates with customers and encourages repeat business is more crucial than ever. A well-crafted loyalty program not only rewards customers but also fosters a deeper connection with your brand, turning occasional buyers into lifelong advocates. But what makes a loyalty program truly stand out and keep customers coming back for more? Below, leaders from the Young Entrepreneur Council (YEC) share their invaluable insights on this very question: "What's one tip you have for creating a quality loyalty program that will keep customers coming back for more? Why?" Their responses shed light on the essential elements of successful loyalty programs, from personalized rewards to leveraging technology for enhanced customer experiences.

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As the online marketplace grows increasingly competitive, businesses must put in strategic effort to stand out from their competitors. Social media can serve as a powerful and cost-effective tool in achieving this goal by getting a brand's products and services in front of the right audience. To help small businesses make the most of their social media efforts, the members of Young Entrepreneur Council (YEC) answered the following question:

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From books to seminars to online articles, there's no shortage of advice for business owners. While some insights are invaluable, others are questionable—and then there are some which are downright disastrous. Following the wrong business advice can prove detrimental to the health and growth of a business. Here, members of Young Entrepreneur Council share some of the worst business advice they've been given and why ignoring that advice is often the best solution.

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Entrepreneurship can be unpredictable by its very nature, making it difficult to fully prepare for this challenging and exciting journey. In the process of starting and growing a business, entrepreneurs learn valuable lessons along the way, later applying them as they move forward in their careers.  Absent of this real-world experience, new and aspiring entrepreneurs can learn from the insights of seasoned pros, leveraging their winning strategies and avoiding common missteps. Below, the members of Young Entrepreneur Council reflect on the actions they wish they'd taken before launching their businesses. From developing a strong network to investing in market research, here is their best advice on how to set your new venture up for success.

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As more and more Gen Zers make their way into the professional sphere, businesses are presented with unique opportunities and challenges. For business leaders who have already hired individuals from this generation, several key lessons have emerged about effectively engaging and recruiting this tech-savvy and value-driven group.  To impart these lessons to businesses looking to hire the current workforce's youngest generation, a panel of Young Entrepreneur Council (YEC) members answered the following question:

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It's often said that employees don't leave bad jobs—they leave bad managers. In this way, if you’re a business leader whose company is suddenly experiencing high turnover, taking a look at your managers and their performance may be a safe place to start when getting to the root of the issue.  While termination may be the solution in some more extreme situations, often, managers may just need further training and support. For guidance on how to begin, consider the following advice from the business leaders of Young Entrepreneur Council. Here, they offer their top tips for how to address the issue of turnover with the manager and help them improve themselves and their management style.

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There often comes a time in business when a sense of overwhelm can start to creep in—whether that's due to explosive growth or a lack of time and resources. Even with business going well, you can still be left scrambling if you don’t have the right processes in place or adequate staffing to help alleviate some of the burden. As business leaders, the members of Young Entrepreneur Council have faced many periods of chaos in their careers. Here, they share what helped them overcome these feelings of overwhelm and how you can regain order during a chaotic time in your business, no matter what the reason.

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In business, unfortunately, not every day brings about success. At some point in their careers, business leaders will be tasked with sharing bad news with their team members, and how they do so will have a major impact on their relationship with their staff and the trust they may have built over time. Whether it’s as impactful as layoffs or as simple as a down year, you want to approach your communication strategy thoughtfully. To help, nine business leaders from Young Entrepreneur Council (YEC) weigh in on the following question:

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Pitching to investors can be a nerve-wracking endeavor for any entrepreneur, but especially so when the investors don't seem to be interested in your idea. Whether they just say “no” or have some negative feedback in regards to your pitch or your product, this type of situation can be a big blow to your self-esteem and your confidence as an entrepreneur. But not earning a “yes” doesn’t have to mean you’ve failed. According to the members of Young Entrepreneur Council, it’s more of an opportunity to improve. Below, they outline the best ways to respond when faced with negative feedback from investors and why doing so will set you up for success the next time.

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As consumers are gearing up for gift giving this holiday season, companies are similarly gearing up for the likely influx of business they’ll see over the next few months. From a greater demand for products and services to increased customer service needs, there are a multitude of ways in which businesses must ready themselves for the holidays—or else be too caught up in putting out fires to meet the needs of customers. Having experienced multiple holiday seasons themselves, the business leaders of Young Entrepreneur Council know what it takes to ensure you’re ready and able to tackle the challenges ahead. Here, they each share one tip they’d recommend for preparing your business for the busy holiday season and why following this tip will ensure you’re able to ring in the new year with ease.

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When you're actively searching for a new career, you know the importance of crafting a compelling resumé. In addition to the expected information, such as work history and experience, there are certain "green flags" that can help your application catch the eye of prospective employers. To help job seekers land that coveted interview, the members of Young Entrepreneur Council share their experiences on the other side of the hiring table. Read on for 13 attributes that can send your resumé to the top of the list—and the top of a hiring manager's mind.

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As job hopping becomes more and more common among professionals—Gen Z in particular—many business leaders are looking for ways to increase employee loyalty and retention. While some employees look for higher pay and better benefits, others are just looking for somewhere they feel like they’re making a difference and where their hard work is appreciated and noticed. That being said, there are a number of ways employers can entice their team members to stay, improving not only their individual work lives but the company’s overall culture as well. Here, 11 members of Young Entrepreneur Council discuss the advice they would give leaders looking to build loyalty and reduce turnover in their business.

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Converting a potential customer takes more than just rattling off the facts about your product or service. It often requires a personalized approach based on a genuine understanding of the customer's needs. To gain this understanding, you'll need to ask the right questions during the sales process. Below, the business leaders of Young Entrepreneur Council share the eight most insightful questions you can ask a potential customer as well as how they will help you land that coveted sale.

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Many people dream of starting their own business, being their own boss and taking charge of their work life. However, while there are plenty of benefits to going it alone, becoming a solopreneur can also feel very lonely or isolating as you navigate the ups and downs of getting a business off the ground. For this reason, many aspiring business owners choose to seek out a co-founder to help them on their journey. From giving your business more credibility to acting as a soundboard for your creative ideas, opting to enter into such a partnership may just be the perfect solution for you. Here, the business leaders of Young Entrepreneur Council explore these benefits and more as they outline 10 reasons why someone may want to find a co-founder rather than go it alone as a solopreneur.

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When you’re an entrepreneur, time management and productivity are key to lasting success. However, finding the time to get everything done can seem overwhelming, especially with the packed to-do lists that come with running a business. Fortunately, in today's technology-forward landscape, many apps are available to help busy entrepreneurs make the most of their (limited) time. Below, Young Entrepreneur Council (YEC) leaders share their answers to the following question:

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Your company mission is the North Star of your business, guiding each and every decision you make. Writing one, therefore, isn’t just about creating a clever slogan or summarizing your goals; it’s about getting to the heart of your business and laying out the true driving force behind your company and all those who work within it. And while you may have an idea of the main “why” behind your business, writing a clear, well-thought-out mission statement may require some deeper reflection. To help, 11 members of Young Entrepreneur Council offer a few questions you can ask yourself to spark a more detailed, thorough or meaningful statement for your company mission that will stand the test of time.

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The work world looks vastly different from what it did just a few years ago—with the pandemic forcing many employees and employers to adapt to remote work or else shut their doors potentially for good. And while some companies have made attempts to return their work environments back to a pre-pandemic office structure, many employees have come to appreciate the benefits of a remote-work lifestyle and have shifted their expectations around what they will and will not accept in the workplace. This evolving attitude, as well as a number of other factors, has made it difficult for some companies to find the talent they need to continue prospering in the market. Here, eight members of Young Entrepreneur Council elaborate on these factors and discuss what employers can do to not only make finding talent easier but also retain that talent once they’ve been brought on board.

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Obtaining more than one investor for your business can be a significant help when trying to finance all your endeavors. However, with more investors also comes more opinions, and not all your investors will be on the same page all of the time. This means finding ways to keep your investors happy, even when their opinions differ, is crucial to ensuring your business keeps running smoothly. But what’s the best way to do this? How can you avoid arguments or bad feelings when disputes occur? Below, 10 members of Young Entrepreneur Council share their insights as business leaders and offer their top tips for ensuring your investors are involved, happy and feel their opinions are being heard.

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While creating a website for your small business is a great first step to expanding your audience and catering to your customers’ needs, building a website alone is often not enough to attract new visitors to your online store. One effective tactic is to improve your website’s SEO, or optimize your site to rank at the top of search engine results. This will not only allow current and potential customers to find your website with ease, but it will also ensure they have a more positive user experience once on your site. Even if you’ve never delved into SEO before, there are many simple yet effective steps you can take to improve your site’s ranking. Here, nine business leaders from Young Entrepreneur Council recommend the easiest ways small-business owners can give their SEO efforts an impactful boost.

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In their search for the best talent, many companies revolve their recruiting and hiring process around their ideal hire, often creating job descriptions with strict qualification requirements or interviews that change from candidate to candidate. While often done with the best of intentions, companies may unintentionally be biasing themselves against candidates who may not thrive in this kind of hiring process but who are otherwise well-suited to the role. To prevent this kind of unconscious bias, leaders can take certain steps that will help make the hiring process more equitable. To help, nine members of Young Entrepreneur Council sound off on the best practices for ensuring an equitable recruiting and hiring process for all and why it is so important to create.

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In a data-driven business landscape, leaders rely heavily on analyzing company metrics to make informed decisions. However, understanding the multiple factors and points to consider when interpreting these metrics is crucial for accurate analysis.  Below, 18 Young Entrepreneur Council members share their tips to help a leader ensure their analysis of company metrics yields accurate and actionable insights. Using these strategies, a leader can determine whether the data indicates they're on course or if they should be prepared to challenge initial perceptions, alter strategic courses or take proactive measures for future success.

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Of all the resources companies monitor and allocate on a regular basis, time is perhaps the most important one. In the business world, saving time can also mean saving money, and time can often be the difference between a happy customer and an angry one or a successful launch and a failed one. This makes finding ways to save time a top priority for any entrepreneur.  To help their own companies save time, the members of Young Entrepreneur Council have implemented a few productivity hacks of their own. Below, they each discuss their chosen strategy as well as what other companies can do to benefit from it.

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When starting out as a freelancer, the toughest step is often finding your first client. Not only do you have to convince them to take a chance on working with you when you may or may not have extensive experience in your field, but you also have to figure out where to find them in the first place. However, by following the tips provided by the members of Young Entrepreneur Council, you can make the experience a little less daunting. Here, they offer up advice to new freelancers for how to build up their client base from scratch and how to secure that first check.

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Many companies begin their diversity, equity and inclusion (DEI) efforts with the best of intentions. They want to ensure that their employees feel included and supported, that the company has diverse points of view at the table and that customers feel represented in their marketing. But this doesn’t always mean these efforts are going to be successful. To help shed some light on why that is, the members of Young Entrepreneur Council share their insights on why many companies’ DEI efforts fail and what leaders can do to ensure they actually succeed.

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As an entrepreneur, joining an online group can be a great way to stay up to date on the latest trends and developments in your field. These groups, which can be found on platforms like Facebook and LinkedIn, offer a wealth of information and advice from other entrepreneurs, industry experts and thought leaders. To help you find the right community for you, a group of Young Entrepreneur Council (YEC) members weighed in on the following question:

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It can be argued that any company that collects and handles customer data has the responsibility of leveraging strong methods to protect it, but a similar point can also be made about the company’s responsibility to educate consumers about malware and cyberattacks. Safe customers are happy customers, and helping to ensure your customers follow cybersecurity best practices can help keep them that way. There’s no one way of going about this task, however. Below, the members of Young Entrepreneur Council discuss eight effective methods for educating consumers about cybersecurity and why these methods are so beneficial for your customers and your company.

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While the cloud is perhaps most notably recognized as a convenient way to store and access data, there are many other benefits of this technology users may not automatically think of—namely when it comes to business growth. From streamlining project management to reducing retraining time, there are a multitude of ways business owners can leverage cloud technology to help them scale. Here, the members of Young Entrepreneur Council share nine of the most effective ways to use cloud technology to grow your business as well as other benefits you may gain by doing so.

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Seasonal e-commerce businesses, such as those specializing in holiday decorations or summer clothing, rely heavily on specific seasons or holidays to drive their sales. However, when the off-season rolls around, these businesses can often struggle to maintain their customer base and generate revenue. Finding ways to attract customers during the off-season can be challenging, but it is essential for the long-term success of these businesses. Below, a panel of Young Entrepreneur Council members share effective strategies that seasonal e-commerce businesses can use to keep their customers engaged and generate sales throughout the year.

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Podcasting has become an increasingly popular medium for businesses to build their brand and connect with audiences. However, launching a successful podcast requires more than just recording and uploading episodes. Many podcasts fail to gain traction and reach their target audience, leaving business owners wondering what went wrong. Below, a panel of Young Entrepreneur Council members share essential tips for podcasting successfully. By following these tips, businesses can maximize the potential of podcasting as a marketing tool to achieve their goals.

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For businesses, TikTok is a platform with potential beyond participating in the latest dance craze or humorous trend. With over 1 billion monthly active users, TikTok is full of potential customers for your brand, and its easy-to-use video-sharing capabilities make it the perfect platform for increasing transparency with your followers and building the trust necessary to attract new consumers. But how should you get started? Here, eight members of Young Entrepreneur Council offer a few of their recommendations. Consider implementing one or all of these creative ideas into your video marketing strategy to build a better relationship with your current customers and draw in new ones as well.

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The beauty of native ads is that they blend well with organic content. This sets them apart from other paid advertisement formats, which affect user experience in one way or another.

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For many modern businesses, tech teams are the backbone of operations. Business leaders can support their IT staff in many different ways, from allocating an adequate IT budget to recognizing and acknowledging tech employees. Here, 10 Young Entrepreneur Council members share ways to set up your tech department for success.

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Everyone makes mistakes from time to time, and entrepreneurs are no exception. With so many  pressures and responsibilities that affect not only themselves, but also their employees and customers, it’s almost inevitable that an entrepreneur will occasionally make a bad decision. However, sometimes big mistakes can lead to big consequences that can tarnish the entrepreneur’s reputation. But that doesn’t necessarily mean there’s no possibility of redemption. Here, eight Young Entrepreneur Council members discuss what an entrepreneur can do if they’re looking to improve their personal brand after making a mistake and why these methods are so effective at turning things around.

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When you're a freelancer, it's crucial to set client expectations upfront to ensure a mutually beneficial relationship. Not setting realistic boundaries and outcomes at the start can lead to critical misunderstandings. Over time, this can lead to burnout or even negatively impact your professional reputation. To help you avoid this outcome, 10 members of Young Entrepreneur Council (YEC) answered the following question:

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Executive team leaders serve as role models by supporting the company mission, maintaining a high standard of work output, encouraging individual growth and leading the company to success.  A member of an executive team must wear a lot of hats, so business owners should carefully consider who would be a good fit for such a key position. To help, the members of Young Entrepreneur Council (YEC) reflected on the following question:

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When you first start your business, you must essentially build your company culture from the ground up. This can often mean taking the personalities and values of your small team into consideration and also defining what the overall values and mission of the company will be. But as your company grows and you add more team members into the mix, the original culture can get muddled or lost entirely as you face new challenges. But that doesn’t mean you can’t return to that same culture once you find your way. To help, eight members of Young Entrepreneur Council each share one tip they’d recommend for how to maintain your desired culture as you begin hiring more people to your team.

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If you find yourself distracted, wasting precious time and unable to focus on your tasks, it’s likely you’re not being as productive at work as you’d like. Whether it’s common distractions found around the in-office or at-home workplaces, or even mental distractions and intrusive thoughts blocking you from doing your best work, it’s easy to lose sight of the task at hand when you’re always battling against one stimulus or another. When you’re feeling this way, it can be helpful to have a trick or two up your sleeve to help you get back on track. To share some of their favorite hacks, the members of Young Entrepreneur Council each chime in below with one hack or trick they’d recommend for finding and retaining your focus in the workplace.

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When your company starts to grow steadily, it can become nearly impossible for you as a leader to find time to meet with staff individually on a regular basis. Instead, consider alternative communication strategies to save time while ensuring you and your team stay on the same page. To help you do this, 11 Young Entrepreneur Council (YEC) members answered the following question: