Marjorie Adams

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When you start a business, not only do you have to convince potential customers you can solve their particular problem, but you also have to convince them that your business can solve their problem better than any other company can. Differentiating yourself from your competition in this way is essential if you want to succeed in your niche and build a loyal following of customers. But what steps do you need to take to do so? Here, 12 business leaders from Young Entrepreneur Council share their insights on what new entrepreneurs should do when it comes to differentiating themselves from their competition and what steps they’ll need to take to ensure their success.

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No business’s sales always trend upward. In fact, there may be times when you see your sales start to even out or even drop for a period of time. While this can be normal, it is also a good indication that you may need to take a look at your current processes to figure out the reason for the dropping numbers.  Stagnating sales also provide you with the opportunity to freshen up old campaigns or breathe new life into your current sales tactics. But before you start, consider the following recommendations by the members of Young Entrepreneur Council. Here, they discuss steps you can take to help turn around slowing sales as soon as possible and get your customers engaging once more.

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In both personal and professional realms, growth and progress are often the outcomes of embracing challenges and pushing beyond our comfort zones. Within the workplace, this means professionals who actively seek to challenge themselves may be more likely to experience accelerated development and fulfillment in their careers. Below, Young Entrepreneur Council members explore various strategies for stepping outside the confines of your comfort zone and delving into uncharted territories within the work environment. By venturing into new areas, taking on unfamiliar tasks and embracing discomfort, professionals can unlock their full potential, acquire valuable skills, cultivate resilience and foster innovation.

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When it comes time to upgrade or replace your business's equipment—such as computers, vehicles, tools or anything else your team may use to get the job done—it would be quicker and far simpler to merely purchase the newest model or renew your subscription without much thought. However, to truly ensure you’re getting the best return on investment in terms of cost and team productivity, careful research and reflection is necessary. But what exactly should you consider before making a purchase? Here, nine members of Young Entrepreneur Council discuss just that, each offering up one factor you should consider first before upgrading or replacing your equipment and why it can ultimately help you make a better decision for your business.

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Whether you’re an aspiring entrepreneur or you’ve recently opened a business, you’re likely thinking about all the skills you’ll need to make your business thrive. While different types of businesses will require different skill sets of their owners, there are several skills that are universally useful across the small-business landscape. To share a few of their top picks, 10 members of Young Entrepreneur Council sound off below. Consider their recommendations if you’re looking to improve your leadership skills and better manage the day-to-day operations of your current or future business.

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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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Data can tell a business owner a lot about the decisions they should be making or the paths they should be following if they want to grow their business. However, with so many metrics to keep track of and so many variables at play at all times, understanding exactly what data to collect and what to do with it can be confusing, especially for new or inexperienced entrepreneurs.  Fortunately, the new year is the perfect time to reprioritize your efforts and map out new strategies for your data use in the coming months. To help, seven members of Young Entrepreneur Council discuss specific ways companies can use data to make smarter decisions and drive business in the new year—and how these efforts have helped their businesses too.

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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:

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Researcher, author and speaker Brené Brown once said, “Daring leaders work to make sure people can be themselves and feel a sense of belonging.” When employees have the freedom to let their personalities shine and foster a connection to the company and their peers, what often follows is a strong sense of team loyalty and passion for their work. But building a company culture that ensures employees feel comfortable enough to be themselves can take many forms, meaning there’s no one way for leaders to approach this goal. To help you find your best path, nine members of Young Entrepreneur Council each discuss one specific thing leaders can do to ensure their employees feel like they can be themselves at work and why this is so important.

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What does it take to show up as the kind of CEO you’d like to be perceived as?

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Of the many duties of a leader, perhaps one of the most important is bringing out the best in their team members. Understanding their needs, strengths and weaknesses and giving them opportunities to shine can help you set them up to succeed in any endeavor they take on. This is especially true as Gen Z professionals enter the workforce with their own perspectives and challenges to overcome.  To truly bring out the best in them, leaders can focus on a few key tips as recommended by the members of Young Entrepreneur Council. Here, they share their advice for helping this generation shine, and how doing so will benefit your overall business as well.

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When it comes to job interviews, many employers are focused on the questions they’ll be asking each candidate and the best way to phrase those questions in order to get the information they need to make a quality decision. However, what many employers may not prepare for are the difficult questions they’ll be asked by the candidates and how they should go about answering them while still shining a positive light on their company. Throughout their careers, the members of Young Entrepreneur Council have been asked their fair share of tough questions by interviewees. Below, they share some of the most challenging questions, how they responded and why they believe other employers should respond the same way.

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A company’s culture—or its shared values, behaviors, goals and beliefs—can be one of the most difficult aspects of business for an entrepreneur to build. It involves bringing together employees from different backgrounds, with different experiences and with differing goals, and determining commonalities and a unified vision that everyone can agree on and strive toward. Naturally, this process can involve a few bumps along the way. But no matter how difficult the journey, building a strong company culture is key to building a successful business that lasts. To help, the members of Young Entrepreneur Council discuss 10 pain points they often hear about in company cultures and offer their best advice for addressing them.

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When you hire great talent, you do so with the hope that they will be effective and productive in their work, overcoming challenges and meeting and exceeding goals. But even the best employee can’t accomplish much if they aren’t given the opportunities or the tools to do so. As a leader, you can help empower your staff to do their best work—but first, you’ll have to figure out how. As leaders themselves, the members of Young Entrepreneur Council have had plenty of experience experimenting and figuring out what motivates their teams best. Below, they each share one tip they’d recommend you consider for empowering your employees to do their best work and why.

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With quotas to reach and profits to gain, it can be easy for a sales team to zero in on a "transaction now" mentality regarding consumer relationships. While this mentality makes for quick sales and easy wins, it can leave customers with a bad taste in their mouths. Building strong consumer relationships promotes customer loyalty and allows them to share their satisfaction with other potential consumers. So, to help transition your sales staff away from a transactional mentality to one centered around building consumer relationships, eight members of Young Entrepreneur Council share their best tips below.

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As a working mom, technology has allowed me to tap into some important truths.

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Millions of people have fresh ideas for new products every year, but not all of them do well in the market. In fact, only a small percentage of entrepreneurs with new product ideas become successful with them—and sometimes that success comes after pivoting from their original idea.  If a new product isn't doing as well in the market as you planned, a simple pivot may be all you need to revive it. But how do you know whether or not it's the right time to make a change? Here, eight members of Young Entrepreneur Council discuss the signs to look out for to help you determine if it's time to pivot your product idea and what to do next.

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Helping employees understand and acclimate to your company’s culture is a critical part of any new hire onboarding process. But when it comes to onboarding new managers, there are additional considerations to keep in mind.  As a key leader in your organization, a manager needs to be familiar with more than just their individual department—they also need to understand how their department fits into the structure and goals of the entire company. Below, eight Young Entrepreneur Council members offer some of the elements needed in manager onboarding if you want to set them—and your company—up for success.

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Many studies show that demonstrating employee appreciation boosts morale and promotes loyalty. However, with so much "busyness" in a typical day-to-day work environment, it can be difficult to remember to slow down and show that appreciation. Birthdays, work anniversaries and milestone accomplishments are perfect opportunities to celebrate and thank your employees for their contributions. Below, eight members of Young Entrepreneur Council discuss ways to express your gratitude to employees during these events or on any special-occasion basis.

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No matter what industry you're in or how tumultuous the market is, hiring the right people for your business is crucial for its success. The right fit needs to have the experience and expertise to perform tasks properly, but more importantly, their personality and values should align with those of the company. Hiring the wrong person to fill a position can cost your business time and revenue. Many factors need to be considered during the hiring process to ensure that you choose the right people to fill available positions within your organization. Here, seven professionals from Young Entrepreneur Council discuss the best ways to ensure you're hiring the right people for your business, even in today’s tight labor market.

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Investing in employee training and development is a great retention tool to ensure continued growth within your company. In the era of the “Great Resignation,” every employer is wondering how to hang on to their best employees. One smart approach is encapsulated by Richard Branson, founder of the Virgin Group, who once said, "Train people well enough so they can leave and treat them well enough so they don't want to."  The two key lessons in this mantra are that employers should invest in employee development and also give them a supportive, collaborative environment in which they can fully utilize their skills. This type of workplace, whether in person or virtual, promotes employee loyalty and continued long-term growth within the company. Below, a group of business leaders shared their interpretation of Branson's quote with some practical tips for boosting retention through training initiatives.

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When the stakes are as high as the direction and future of your business, it’s important to have more than emotion driving your decision-making.

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In a world wrought with societal and environmental issues, both millennials and Gen Z strive to ensure their work serves the greater good, whatever that may mean to them. Finding purpose in their work is an attractive goal for both generations, and it’s one many of them are unwilling to compromise on. To help employees looking for this purpose in their careers, a panel of Young Entrepreneur Council members offered their best career-building advice for Gen Zers and millennials who want to make a difference. Here's how they recommend vetting potential jobs and work environments and cultivating a career that can make any professional feel more fulfilled.

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Some of the best parts about having a small business are the benefits that it brings to employees: more equity, a hand in the decision-making process and smaller teams, just to name a few. Although the successful growth of your business is something to celebrate, day-one employees may eventually come to miss the small business feeling that they signed on for. To that end, members of Young Entrepreneur Council (YEC) weighed in on the following question:

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We live in a world of constant distractions and interruptions. While it's easy to blame these external factors for our lack of focus, it's often our own reactions to and bad habits around those distractions that are truly sabotaging us. In the remote work era, certain productivity-killing habits like multitasking and constantly checking notifications have become even more common as professionals try to juggle work and home life. Below, 11 members of Young Entrepreneur Council shared some practices that may be unintentionally hurting your ability to focus and how to break those bad habits for good.

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In every career, there are things to be thankful for—things like meaningful moments with co-workers, the opportunity to learn and personal growth that can put the challenges and difficulties in perspective and help you find a renewed sense of purpose at work. Reflecting on their careers and business journeys, the members of Young Entrepreneur Council each have their own moments to be thankful for. Below, nine of them shared what they appreciate most about their careers thus far and highlighted the lessons they’ve learned that can help other leaders succeed.

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When starting their businesses, a major concern for entrepreneurs is whether or not their company will succeed. This can hinder them from taking chances, expanding or starting a company altogether. While there isn't a way to fully guarantee your business will do well, there are signs you can look for that might indicate you’re on the path to success. To that end, a panel of Young Entrepreneur Council members described these telltale signs and how to spot them in your own business.

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Part of creating a successful team is getting them to buy in on your company’s mission, vision and goals. Those employees who do this are likely to develop an “ownership mindset” in which they feel that they have ownership over their responsibilities and outcomes and are more willing to do what is necessary to accomplish tasks. But getting every employee to feel this way can come with its own set of hurdles, so how can leaders encourage their team members to have an ownership mindset, no matter their job description? Below, nine members of Young Entrepreneur Council list some tips for leaders looking to achieve this very goal.

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As a new business owner, it's wise to work with someone who has been in your shoes and possesses the experience to help you navigate any uncertainty you might face. Launching and running a successful business requires time, energy and seasoned insight. However, many budding entrepreneurs tend to shy away from spending money on a consultant. If you're unsure whether it's worth investing in a business consultant, there are some clear indicators that might suggest you could benefit from one. Below, a panel of Young Entrepreneur Council members shared 10 signs you should hire a consultant for your business.

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In the first half of 2021, the e-commerce industry hit $408.51 billion, which is up nearly 22% from the previous year. With so much room for growth and a promising future in a digital-first world, e-commerce continually attracts entrepreneurs and their business ideas. Before launching a new venture, however, it's important to have the right strategy in place.  Below, nine members of Young Entrepreneur Council shared their recommended steps for entrepreneurs looking to scale an e-commerce business. Here's how to ensure your online company thrives in the current marketplace.

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One of the most significant milestones for any business is the day it reaches a point of expansion. While every business owner looks forward to the day they can grow their business, it's important not to be hasty in doing so. A successful business expansion depends on a number of factors and needs to be carried out at the right time. To help you understand when the time is right for you to expand your business operations, 13 experts from Young Entrepreneur Council (YEC) answer the following question:

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There's a lot of planning that goes into designing the look of a retail store. While you definitely want to add style elements that are expressive of your brand, you also need to consider your target customers. A well-designed store will not only attract more customers, but can also lead to higher sales. To help you figure out the most important aspects to consider when designing your retail store, 10 members of Young Entrepreneur Council (YEC) answered the following question:

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The process of hiring new employees can be both rewarding and difficult. Hiring managers or HR representatives need to make sure each candidate not only fits into the company culture and values, but also can do the job successfully. Some hiring decisions can be particularly hard to navigate, especially as a small business owner. Below, nine Young Entrepreneur Council members shared the biggest hiring challenges they've ever faced and the steps they took to overcome them. Read their advice to help you if you're struggling to recruit, hire or onboard new talent for your company.

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Every aspiring entrepreneur starts out with a great idea. Some people turn this idea into a side hustle and sell a small amount of their product or service, while others succeed at expanding their businesses quickly and widely. However, many quickly discover that running and growing a business is hard work and may struggle to sustain their fledgling startup. Those who have business ideas that start off slowly may wonder if the struggles they're facing are obstacles that can be overcome. Below, 10 members of Young Entrepreneur Council weighed in on some reasons why someone might not be cut out for entrepreneurship.

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As a business leader, you may already possess ideal traits, such as assertiveness, adaptability and conscientiousness. But perhaps you've noticed that you're lacking in other areas in which you could become a better leader. The first step is to become comfortable with being uncomfortable. Below, eight members of Young Entrepreneur Council share their best tips on how to step outside your comfort zone.

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Being an entrepreneur takes a lot of time, effort and resources, and all that work can sometimes be a major drain on your energy and your happiness. While the overall achievement of being an entrepreneur is fulfilling enough to many, sometimes it can be difficult to look at the big picture when feeling stressed by day-to-day problems. When it comes to feeling happy and fulfilled on a daily basis, there are various measures you can take. Here, eight members of Young Entrepreneur Council offer some tips that have helped them feel happier as entrepreneurs. Try out a few of these “lifestyle hacks” for yourself to overcome the pressures of the daily grind and feel happier and more fulfilled about your accomplishments.

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Ethical dilemmas are commonplace in society, but when a business experiences one, the impact (and potential fallout) can have a wide reach. In many cases, ethical dilemmas are challenging to work through because the risk and reward aren't as clear-cut as other types of decisions. This complexity becomes even more convoluted with businesses, as other businesses, customers and employees can all be affected. Below, eight leaders from Young Entrepreneur Council examine some of the more common ethical dilemmas business owners may face and offer their advice on how to overcome them.

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Not all customers are the right fit for your company, and that's OK.

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When you're running an organization, communication breakdowns can lead to severe efficiency and productivity problems. While smaller teams may be able to quickly deal with the difficulties of communication inefficiency, this problem becomes harder to solve as the business grows and evolves. Cross-departmental communication is at the heart of a business's ability to respond to issues effectively. Without proper communication channels, the business runs the risk of losing customers and appearing unprofessional. So how can a company make sure that all its departments are on the same page? Seven members of Young Entrepreneur Council recommend a few tips you can use to ensure your organization's departments are communicating well.

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Bookkeeping is a tedious but necessary process for all businesses. But for small businesses with limited resources, streamlining the process becomes of even greater importance. One way to do this is to invest in a reputable accounting software or tool that keeps you organized and on track. With so many options on the market today, however, it can be difficult to know which accounting software is right for your business bookkeeping needs. It's helpful to get insights from experienced entrepreneurs who have tested out a variety of tools to find what works and what doesn’t. To that end, a panel of Young Entrepreneur Council members shared the bookkeeping software and tools they recommend for small business owners.

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At the end of the day, your company’s impact matters to your employees.

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Your employees’ personalities and work ethics have a direct impact on how effective and efficient you and your company are at getting anything done. Because of this, putting together a well-functioning team isn’t always straightforward. For an entrepreneur who needs to have team members they can count on, a few personality traits stand out as necessary. Below, eight members of Young Entrepreneur Council discuss some of the attributes they consider nonnegotiable in potential hires for their companies and how these traits impact the ability to complete good work.

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Last year's challenges were too many to count, but one of the most ever-present ones was the shift to an online workforce. Remote workers are nothing new—they've been around for at least a decade in some form or another. However, they've been mostly contractors and freelancers, not full-time employees. With the widespread focus on remote work still necessary, business leaders need to find a way to capitalize on the growing remote workforce. To help, nine professionals from Young Entrepreneur Council discuss practical ways business owners can make the most out of this revolutionary change.

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The issue isn’t trusting remote employees to do their work. The issue is empowering staff with the tools, technology and management they need to validate their work and trust in themselves.

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Members of Young Entrepreneur explain how hands-on CEOs can get more comfortable with delegation. When you first started your business, you were likely very hands-on with all aspects of your company. As you've grown and hired people, you may have found that you're struggling to step back and let go of the day-to-day tasks that helped get the company off the ground. While it's good for a CEO to remain involved in their business, it's also important to know when to delegate and start giving more power to your employees. This can be tough for someone who's used to doing everything themselves, but there are ways to practice and get better at handing off business tasks. To help, we asked 13 members of Young Entrepreneur Council to share their best delegation strategies for CEOs who want to empower their teams. Here's what they recommend.

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Cash flow --  the amount of money that comes in and goes out of a business -- is often a concern for many new companies. Generating a healthy cash flow requires careful planning and a commitment to a strong operational strategy. However, a lack of experience in cash flow management as a new entrepreneur can put you at a disadvantage. That’s why we asked 10 members of Young Entrepreneur Council about common cash-flow mistakes new business owners tend to make when they’re starting out. Here’s what they had to share from their experiences.

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Not all the obstacles to family succession are unsolvable. A little positive thinking can go a long way toward easing the next generation’s leadership of any family company.

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Disagreements and conflicts are inevitable in the workplace. As a leader, it’s your job to mediate any issues between workers so your company culture remains positive and productive. However, this is often easier said than done: It takes a truly empathetic and effective leader to listen to each side and help both parties come to a mutually-beneficial solution. To help you, we asked Young Entrepreneur Council members about the most effective ways to confront conflict in the workplace. Here’s what they recommend.

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If prompted, there's at least one employee that business owners can point to definitively and state that they are one of the most high-performing hires at the company. However, these high-performing employees sometimes go through issues that can put them off their game. For the company, this can impact performance and efficiency. The business must understand that the employee is still human, not a machine. Getting them back on their game will require a more individual approach. Below, eight contributors to Young Entrepreneur Council examine what a business owner can do to help their prized, high-performing employees get back in gear after a personal or professional struggle.

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The simple act of being a good listener can improve your management capabilities tenfold.

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Transparency is key -- not just about your news, but about how you plan to steer the company forward.

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Smart business owners will get a head start a full year in advance.

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Showing your strength as a business owner doesn't mean maintaining a poker face at all times.

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Knowing how much you're spending on acquiring customers is critical, and yet many business owners don't know where to start.

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To really help your clients, lose the salesperson approach and treat each problem with the eye of a therapist.

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After Marjorie Adams started losing staff and dealing with unhappy clients, she decided to take a more holistic approach to remote teamwork.

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Truly great businesses have one thing in common: they cultivate customer trust, every step of the way.