Member Since November 2018
About
I am the co-founder and CTO of Formidable Forms and Business Directory Plugin. After earning an RN license and a degree in nursing, I had my first baby which lead to a quick end to that career. I soon started learning to code to pass the time, and learned that I loved it. Over the course of several freelance projects, I had created a pretty cool piece of software, and started sharing it in order to help others like me to build powerful client sites fast.
Stephanie Wells
Published content
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From your experience, what makes a mentorship relationship successful, and how can someone find or become a great mentor in their field?
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Apr 11, 2024
Yes, it's hard to "no." However, saying "no" to opportunities is part of finding a work-balance balance. To reveal strategies of how to properly turn down new opportunities, we asked YEC members for how they say "no" in high-pressure situations to help protect their work-life balance.
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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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Being an entrepreneur may sound fascinating, but starting a business from the ground up may not be as easy as it sounds.
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While many people try to avoid arguments at work, constructive disagreements can often lead to creative solutions. Left unchecked, however, these discussions can quickly head in an unhealthy direction and foster a negative atmosphere. To build a culture of innovation and open communication, leaders must foster healthy disagreements among their teams while ensuring things don't get out of hand. Below, 15 members of Young Entrepreneur Council share their tried-and-true tips for encouraging constructive disagreements in the workplace.
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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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Running a small business is similar to a juggling act, where entrepreneurs wear numerous hats to keep the show running smoothly. While adaptability and multitasking are key, there are specific skills that stand out for small-business leaders striving for success. These skills go beyond the basics of entrepreneurship and delve into the intricacies of leadership and management. To discuss these skills, a panel of Young Entrepreneur Council (YEC) members responded to the following question:
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When making a budget, entrepreneurs may account for some of the more obvious expenditures, such as payroll and production costs. However, some important expenses might be overlooked—which can significantly impact the health and longevity of a business. To help you create a more accurate business budget, members of Young Entrepreneur Council discuss some of the less obvious costs of running a business. From professional development to software upgrades, make sure your budget accounts for these key expenses.
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When searching for the right company to join, hopeful job seekers often consider professional development opportunities to be a major incentive to apply. However, for businesses with budget limitations, providing employees with the best development opportunities can be a challenge. Fortunately, some savvy businesses have found ways to create a culture of continuous learning and employee growth without breaking the bank. To that end, 13 Young Entrepreneur Council members weigh in with their best budget-friendly strategies for employee professional development.
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A company's software stack is the backbone of its operations, efficiency and ability to compete. However, staying on top of what's new or needed when it comes to the tools you use can be a challenge. So how can you tell when it's time to upgrade or change your company's software stack? To help business leaders answer this question, 15 members of Young Entrepreneur Council discuss the telltale signs your business may need a software upgrade as well as the challenges businesses often face in making those upgrades. Follow their recommendations to help you make informed decisions about implementing new software for your own company.
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Ensuring your brand is recognizable to potential customers, no matter where they find you, is one of the most important parts of building a loyal audience. If the messaging a customer receives from your brand on Instagram differs from the messaging they receive in their email inbox, how can the customer trust what your brand is trying to say or sell? Similarly, if logos, fonts, colors or other design choices for your brand vary by platform, you may be giving off a disjointed, unprofessional look that can be off-putting to customers. To prevent this from happening, you should always strive for brand consistency across all marketing platforms. To share their expert advice on how to do so, the members of Young Entrepreneur Council discuss the top tips they think all entrepreneurs should know about creating a consistent image for a brand.
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Many aspiring entrepreneurs dream of opening their own business, but they fear that they’ll need to invest a lot of money to do so — and will end up losing that money should their business fail down the road. Thankfully, there are plenty of businesses that don’t require a lot of capital to get started. To give you an idea of what businesses you might consider, the members of Young Entrepreneur Council (YEC) respond to the following question:
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Years after the “Great Resignation” turned the job economy upside down, businesses are still feeling the ripple effects today. With many industries struggling to attract employees—and others struggling even more with trying to retain them—some business leaders are desperately looking for solutions to this ongoing problem. One such solution is an overhaul of the interview process. One of the first opportunities businesses have to make a good impression on potential hires, interviews are perfect for highlighting what makes your business so attractive. According to the members of Young Entrepreneur Council, the following 10 strategies can help you create a quality interview experience that will be sure to impress.
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For many entrepreneurs, building an online store is a quick way to get their business up and running without having to deal with the overhead of a traditional brick-and-mortar store. But the world of e-commerce isn’t without its own obstacles to overcome. Challenges like getting noticed among the competition and designing a functional, appealing website can feel like major roadblocks to those new to navigating a digital business. However, you don’t need a lot of experience to get started. According to the members of Young Entrepreneur Council, following these 11 steps can help you build a successful e-commerce site that will draw in customers and increase your chances of making a sale.
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Going from ‘solopreneur’ to ‘manager’ isn’t always as simple as it seems. Many people are attracted to entrepreneurship because they like the idea of being able to work for themselves. However, at some point in their career, they may find that they can no longer handle all the work themselves, and bringing on an employee or two -- or more -- may be the best solution as their business continues to scale. But managing yourself and managing others are two very different tasks. Naturally, some entrepreneurs end up making a few mistakes along the way. Here, seven entrepreneurial experts outline some of the top mistakes solopreneurs make when transitioning into an “employer” position -- and what you can do to avoid making those same mistakes with your business.
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As 2023 draws to a close, it offers a moment of reflection for business leaders to glean valuable insights from the year's experiences. By doing so, they can distill the most important learnings to set themselves and their organizations up for success in 2024. Below, seven women from Young Entrepreneur Council reflect on the most important leadership lessons they've learned this past year—and what they'll carry with them into the new one. Read on to learn from their experiences so you can navigate the challenges and opportunities of 2024 with confidence and foresight.
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Networking and seeking help from peers in your industry can be an intimidating prospect for many professionals. The fear and anxiety associated with networking can often hinder one's ability to create meaningful connections. Below, 14 Young Entrepreneur Council members share valuable tips and strategies to banish those networking fears and anxieties. With these tips, you will feel empowered to build strong industry relationships in the world of business with confidence, ease and success.
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As the year draws to a close, small service-based businesses face the challenge of not only reflecting on their past performance but also positioning themselves for success in the upcoming year. But how can these businesses stand out in the crowd to truly distinguish themselves and set a solid foundation for the year ahead? Here, 15 Young Entrepreneur Council (YEC) members answered the following question to help small businesses rise above the competition and pave the way for a bright 2024.
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For many entrepreneurs , the prospect of a buyout offer can be tempting. However, amid the whirlwind of excitement and potential financial gain, it's important not to lose sight of critical factors that can significantly impact the deal. Here, Young Entrepreneur Council members share what they consider the most critical factors to consider before selling your business.
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November, often associated with Thanksgiving, is a month that reminds us of the importance of giving back and expressing gratitude. For employers and managers, it's an opportune time to consider how they can give back to their employees and foster a culture of appreciation within their organizations. Below, Young Entrepreneur Council members explore meaningful ways employers can show their gratitude and give back to their teams, not only during the holiday season but throughout the year. These acts of giving, from recognition and professional development opportunities to wellness initiatives and flexible work arrangements, can have a profound and lasting positive effect on employee morale, engagement and overall workplace satisfaction.
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Entrepreneurship is a thrilling pursuit filled with opportunities, but it can also be a breeding ground for stress and burnout. To thrive in the highly demanding world of entrepreneurship, adopting specific habits is essential for reducing, and even avoiding, stress regularly. Below, Young Entrepreneur Council members explore the significance of cultivating these habits and why they are crucial for every entrepreneur. They also share the practices that not only help entrepreneurs navigate the turbulent waters but that also contribute to their long-term success and well-being.
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Slack pings, calendar reminders, text messages or phone calls and those pesky notifications—the work world can often be incredibly distracting. And for the work-from-home crowd, there can sometimes be additional layers of distraction, like a ringing doorbell, family and friends, a load of laundry or the constant urge to clean up the space around you. But whether in the office or at home, work sometimes takes the back burner to these distractions, leaving you unproductive and stressed out about how you’re going to get it all done. According to the members of Young Entrepreneur Council, the solution is to strive for uninterrupted focus. Being intentional with both your environment and your processes can help set you up for a much more productive day. Here, eight members share their top methods for achieving that uninterrupted focus when you most need it and why these tips work so well.
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To stand out from other candidates, job seekers are increasingly called on to earn certifications, learn new skills and develop their personal brands. However, these rapidly shifting expectations have led to common misconceptions among job seekers about what it takes to get hired. Here, 11 Young Entrepreneur Council members share their perspectives on these common misbeliefs and the advice they would give to job seekers instead. Consider their insights to gain clarity on how prospective job candidates can develop the right strategies to land the jobs of their dreams.
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Fundraising is often a necessary step for entrepreneurs who are looking to launch their startup but aren’t able to put forth the capital necessary to grow the business. However, the process of securing funding is fraught with complications and presents many opportunities for critical mistakes. Below, nine business leaders from Young Entrepreneur Council each share the mistakes they made while fundraising and the advice they’d recommend to others to avoid the same pitfalls. With these insights, entrepreneurs can build long-term relationships with the right investors who can help take their business to the next level.
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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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New artificial intelligence tools seem to crop up every day—and many businesses are implementing them just as quickly. However, while these tools are meant to make businesses more efficient, that doesn’t mean they don’t also come with their own challenges, especially when it comes to implementing them in the first place. From simply not understanding the technology to gaining customer acceptance and trust, there are numerous struggles leaders are facing while attempting to adopt artificial intelligence into their processes. Here, the members of Young Entrepreneur Council discuss 10 of those hurdles and what they think business leaders can do to overcome them.
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Whether it's starting her own tech company or taking on her first tech role as a professional, a woman entering the tech industry can face unique challenges in this traditionally male-dominated field. Not being heard or taken seriously paired with a lack of other women to connect with or look up to can feed into feelings of self-doubt or encourage imposter syndrome—which can ultimately lead women to leaving tech altogether. In order to succeed, it’s important to stay confident in yourself and your abilities. Below, several women business leaders from Young Entrepreneur Council draw on their own experiences facing adversity to share the advice they'd give to any young woman beginning her career in tech and why.
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As more and more people in today's workforce seek greater fulfillment in their careers, entrepreneurship has become an increasingly compelling avenue for self-discovery and financial independence. And with the rise of remote work and advancements in digital technologies, starting a home-based business is more attractive—and attainable—than ever. Doing so, however, requires an understanding of the practical steps and strategies necessary for success. Not sure where to begin? Below, a group of entrepreneurs from Young Entrepreneur Council share eight tried-and-true tips for starting a home-based business.
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Putting the right people together—ones who get along, who play off each other’s strengths and who support each other—can be one of the most difficult aspects of being a leader, as getting the formula wrong can be disastrous for team morale and productivity. While some signs, like arguing, can be a clear indicator of an ineffective team, others may not be so easy to spot. To offer some clarity, 10 business leaders from Young Entrepreneur Council each offer up one thing ineffective teams tend to do poorly and what they would suggest they do instead to better their productivity and teamwork. Keep an eye out for these telltale signs that your team may be struggling more than you think.
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Your website's landing page is often the first interaction a potential customer has with your brand. So it's crucial to make that initial impression count, crafting a captivating landing page to grab the attention of—and quickly convert—prospective customers. How exactly can brands ensure their landing pages have their intended effect? To help, a group of Young Entrepreneur Council members share tried-and-true strategies to optimize your landing page for maximum conversions.
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A cornerstone of any thriving business’s operations, a company’s human resources department plays a key role in the success of its people. And yet, it can be easy for CEOs to think of their HR departments like their own self-sustaining departments, recruiting and hiring employees without much need for additional assistance. However, just like any other department, HR can experience their own challenges and require the full support of the leadership team (and the company as a whole) if they are to function well. So what can CEOs do to provide that support? Below, the business leaders of Young Entrepreneur Council share their thoughts and outline 10 different ways company leaders can better support their HR teams and why it's so important to the overall health of a 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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Starting your business with a limited budget can be difficult, as everything from creating your product to building your website seems to have some sort of cost associated with it. However, there’s one area of business that doesn’t necessarily have to cost any money: press. Getting your company’s name out into the public and in front of potential customers by generating free press is one of the most cost-effective steps you can take to market your business. From writing guest posts on industry blogs to applying for business awards, there are numerous strategies you can use to get your company noticed. Here, 11 members of Young Entrepreneur Council discuss just some of those methods and why they’re so effective at helping you positively grow your business.
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In his 2023 report, the U.S. Surgeon General reported that millions of Americans are lonely, not just at home, but also at work—and this continues to be an ongoing issue. While this trend began before the pandemic isolated millions of individuals from their families and friends, these feelings of loneliness have only increased since. As one’s work makes up a significant part of a person’s life, finding ways to seek connection with co-workers and build a sense of belonging and camaraderie is key to addressing this ongoing problem. So how can employers help? Here to share their insights, 10 business leaders from Young Entrepreneur Council weigh in on what employers can do to ensure their teams feel connected and supported at work, and discuss why doing so is so important for everyone’s well-being.
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Imposter syndrome can affect anyone—regardless of age, gender or background. However, these feelings of self-doubt can often hit a little harder for young female entrepreneurs, as they may feel they are less qualified or have more to prove than their male counterparts. As entrepreneurs, they may lose out on vital business deals or opportunities to advance their careers if they are unable to overcome these hurdles. To help, nine women from Young Entrepreneur Council draw from their experiences as entrepreneurs and offer their best advice for how to overcome imposter syndrome, succeed as a business leader and forge ahead in one’s career with confidence.
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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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The value of mentorship has become increasingly evident. Many young professionals recognize that having a mentor can be a transformative experience, propelling their careers to new heights and offering the kind of guidance, insight and wisdom that textbooks simply cannot provide. However, the process of approaching a successful entrepreneur about becoming a mentor can seem daunting, leaving many unsure about where to begin. Here, Young Entrepreneur Council members share tips for how young individuals can secure entrepreneurs as mentors, starting them off on their own paths toward successful entrepreneurship.
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The modern work landscape is dotted with transient employees hopping from job to job, making the recruitment and onboarding journey a costly affair for employers. With the rise of the gig economy and the allure of diverse experiences, retaining talent has become an uphill task. Yet, within this trend, there are candidates seeking stability and a lasting professional journey—you just have to find them. Here, 12 Young Entrepreneur Council members explore the strategies businesses can leverage to ensure they're selecting candidates eager to establish long-lasting professional roots.
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When a member of the C-suite leaves their position, it can have a ripple effect throughout the whole company. Because they’re a key leader of your business, their departure may leave employees wondering whether they were let go or left of their own accord, whether their own jobs will be affected, whether there will be significant changes to the company culture or whether new policies and procedures will be put in place. While change is often necessary in order for companies to grow, key changes in leadership must be handled thoughtfully to help quell these fears and answer employees’ questions. To do so, consider the following advice from the members of Young Entrepreneur Council. Here, they offer their best tips for how to ensure a smooth transition and avoid any negative impacts after a C-suite exec leaves your company.
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Often, one of the most gratifying parts of being a small-business owner is building a connection to your local community. One of the many ways business owners can do this is by hosting local events. Whether it’s an intimate gathering in your store or a big summer bash, events are key opportunities for strengthening your relationship with your customers — but that doesn’t mean they have to break the bank. To help you determine the best ways to cut costs while still putting on an event to remember, 10 members of Young Entrepreneur Council (YEC) weigh in on the following question:
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As inflation continues to take its toll on the economy, many professionals are looking for ways to increase their income. While some may choose to take their talents elsewhere and seek a higher-paying job, or even add on to their workload by taking on a potentially lucrative side hustle, others are content with their current career of choice and would rather earn their bump in pay another way: a raise. However, unlike applying for a new position at another company, the path to achieving a salary increase at your current job may not feel as clear. That’s why we asked nine members of Young Entrepreneur Council to share their best tips for how to successfully negotiate a salary increase and why doing so can help you get the increase in pay you deserve.
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As leaders of their respective companies, CEOs are naturally very busy, so often it can make sense to outsource tasks to a virtual assistant, or VA. From simple yet time-consuming tasks like scheduling meetings and managing emails to more involved tasks such as research and report preparation, VAs can help CEOs gain back a significant amount of time during their workday, allowing them to turn their focus back to vital decision-making and operational tasks. But not every task a CEO may have on their to-do list each day can be assigned to someone else, so what are the tasks best suited for a virtual assistant? Here, the members of Young Entrepreneur Council weigh in with 10 tasks they recommend CEOs outsource to VAs and why doing so will save them so much time.
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In today's digital era, where an online presence can make or break a company's success, search engine marketing (SEM) has emerged as a powerful tool to enhance visibility and attract potential customers. From keyword optimization to compelling ad copy and a seamless user experience, understanding the fundamentals of SEM can pave the way for a flourishing online presence and long-term success. Here, Young Entrepreneur Council members explore practical and actionable strategies to help businesses enhance their search engine marketing game.
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As an entrepreneur, believing in yourself and your ideas is foundational to your success. For entrepreneurs, having confidence is like having a secret weapon. It's key to facing obstacles, winning over others and ensuring the success of any venture. However, gaining that confidence is often easier said than done, especially with all the challenges that come with starting and growing a company. To help entrepreneurs build their confidence, a group of successful business leaders share their expert insights on why self-belief is so crucial to running a business, as well as seven tried-and-true tips on how to achieve it.
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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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No matter what business you run, when you’re designing your website, you’re not really designing it for your business—you’re designing it for your customers. Users of your website need to be able to easily find your website and navigate it to find the solution to their problem. This process is all part of their user experience (UX), and providing them with a positive experience should be your main motivation behind every design choice you make. As business leaders themselves, the members of Young Entrepreneur Council understand what it takes to produce a thoughtful website that keeps the user experience in mind, and here, they each share the one rule or lesson they think about when trying to create a better user experience for their website visitors and how this thinking helps shape their final design.
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Knowledge is the key to success. This is especially true for entrepreneurs, as the wisdom shared in books can prove to be invaluable for both the budding startup founder and the seasoned business owner. From time-tested strategies for growth to profound insights on leadership and innovation, these literary gems have the power to shape the way entrepreneurs approach challenges and opportunities. Whether you're seeking inspiration, seeking to hone your leadership skills or simply looking to expand your entrepreneurial mindset, books are a must-have resource to empower and guide you on your entrepreneurial journey. To recommend a few of their favorites, Young Entrepreneur Council (YEC) business leaders answer the following question:
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When you’re a business leader, you often work a million miles a minute putting out fires and maintaining the current and future health of your company. With your attention pulled in all different directions, you’re forced to balance major decisions with minor ones, all while trying to find time to complete your usual day-to-day schedule. These daily demands can be a lot to handle, and it’s not uncommon for leaders to feel overwhelmed or burned out from tackling these duties. If you feel like you’re struggling to manage your workload as a leader, the members of Young Entrepreneur Council offer their advice. Here, they discuss the best tips they’d give any leader struggling to keep up with the daily demands of leadership and what has worked for them as leaders of their own companies.
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"Build your network" is common advice given to professionals looking to find new jobs, make major business moves and succeed in their careers. But when the busyness of life and work sets in, it can sometimes be difficult to build and then nurture those relationships so they maintain their strength over time. Without these relationships, you may miss out on potential opportunities or connections that could play an important role in your future success. To help you find the balance needed to manage both your network and your personal life, 10 members of Young Entrepreneur Council offer their top advice for maintaining professional relationships while also prioritizing your personal ones.
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Negotiating contracts and terms with clients is a critical aspect of any business engagement. Whether you're a freelancer, a small-business owner, or work for a large corporation, understanding and implementing effective negotiation strategies is crucial for achieving mutually beneficial outcomes. To employ the best practices in contract negotiation—as well as safeguard your interests, foster productive client relationships, and ensure the smooth execution of projects—consider the following advice from members of the Young Entrepreneur Council.
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No matter how focused your business is on customer satisfaction, the occasional complaint is inevitable. Whether they occur in person at a physical store or through online channels, these complaints present a unique opportunity to turn the situation around and deliver a positive experience. By actively listening to the customer's concerns, businesses can demonstrate empathy, foster trust and find effective solutions that resolve the issue at hand and encourage that person to keep coming back. To that end, Young Entrepreneur Council members share a few key actions you can take to address negative feedback and create a positive outcome for the customer—and ultimately, your business.
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A trusted mentor can help you navigate business’s toughest challenges. Running and leading a successful business is no easy feat. That's why entrepreneurs often turn to trusted mentors, those who have already navigated similar challenges in their own businesses, for guidance and wisdom. As they grow and learn, these entrepreneurs can then pass on these valuable insights to the next generation of business owners. Below, a group of successful entrepreneurs share some of the most memorable advice they've received from their mentors. Read on to find out what lessons have stuck with them and why those words have been so impactful.
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Of all the considerations an entrepreneur has to make when starting a business—what to name it, how to price the products and more—the legal considerations are perhaps the most important. From determining a business structure, to complying with local labor laws, to ensuring you prepare for and properly file your taxes, forgetting to account for any of these aspects could lead to disastrous legal consequences down the line—ones that may be impossible to recover from. To ensure you don’t make any legal missteps as you begin your entrepreneurial journey, consider the advice of those who have experience dealing with the legalities of starting a business. Here, 10 members of Young Entrepreneur Council outline some of the most important legal considerations to make when starting a business and why handling these tasks should be at the top of your to-do list.
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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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It’s perfectly human to have “off” days—those when you can’t help but feel distracted by every little thought or feeling that enters your mind, or when smaller, less important tasks suddenly seem necessary to complete immediately. It can be difficult to get into a state of deep focus or even to find a normal amount of motivation on days like these, which means your productivity and ability to get things done can drastically decrease. Business leaders are no strangers to these kinds of off days, but thankfully the leaders of Young Entrepreneur Council have found a few solutions to recommend. Below, they each discuss one method they use to find their motivation for work even when they’re feeling distracted and how you can implement each tip to regain your own motivation.
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As the modern workforce evolves, the appeal of hybrid work environments has become increasingly apparent. While fully remote work may not be feasible for every company, adopting a hybrid work solution can be an attractive perk for both potential and current employees. Transitioning from a fully on-site setup to a hybrid environment, however, requires careful planning to ensure a smooth and successful shift. If you're ready to embrace the hybrid work model for your company, read on for 11 expert tips recommended by Young Entrepreneur Council members.
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With the popularity of remote work today, companies are able to look for talent regardless of geographical location. But while this means access to a larger talent pool with varying skill sets, it also means navigating the legalities of hiring outside your home country and incorporating various cultures into your own unified company culture. While this can be a tricky task to get right, with the right tools and tips, you can successfully expand your hiring to international applicants. To help, eight business leaders from Young Entrepreneur Council discuss the tips they would give companies for how to be successful with their global recruiting efforts as well as how this might differ from traditional, location-based recruiting.
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Getting started in any role can be intimidating, but this can be even more true for those new to marketing. In an industry that’s fast-paced and ever-changing, it’s essential to both keep up with the latest trends as well as understand the tried-and-true basics of the trade. With extensive experience marketing their own businesses, the members of Young Entrepreneur Council have their own thoughts about how to succeed in marketing. Here, they each share one rule or guiding principle they believe all new marketers should follow right off the bat and how doing so will affect their success in their role.
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When it comes to hiring someone for their team, nearly every employer likely already has an image of their ideal candidate in mind. Whether it’s someone who isn’t afraid to push the envelope or someone who is reliable, trustworthy and gets their work done on time, the “ideal” hire can vary from employer to employer, sometimes making it difficult for potential candidates to know what qualities they should emphasize in their application. To provide a little bit of guidance, business leaders from Young Entrepreneur Council list 11 words they’d use to describe their ideal employees and explain what it is about those specific characteristics that makes someone such a great hire.
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While LinkedIn is a great place to connect with others in your space and share your unique perspective on industry problems, engagement isn't always guaranteed. Because the platform boasts over 930 million members, if you aren’t being intentional about your LinkedIn strategy, your content may not even get noticed. However, if you’re looking to seriously up your LinkedIn game and give your engagement a major boost, consider the following advice from the members of Young Entrepreneur Council. Here, they outline nine steps any professional can take to increase engagement with their content and why these methods work so well.
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While not every day will be perfect in terms of motivation, if you discover your employees generally aren’t finding fulfillment or satisfaction in their work, it’s paramount you find a solution and help get them back to feeling their best as soon as possible. If you don’t, you risk your employees becoming burned out and unhappy, which could lead to them leaving your company in search of something more exciting. To prevent your staff from reaching that point, you’ll need to take a few key actions both before and after you notice a problem. According to the members of Young Entrepreneur Council, taking the following seven steps could ensure employee morale stays high and your staff feel both motivated and fulfilled on a regular basis.
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With growth in the global economy and advancements in remote work, more and more companies are recruiting from a global talent pool. However, hiring internationally may not be as straightforward as hiring from within your own country. In order to do it right, you’ll need to consider a number of factors before moving forward, including the hours your team will work and what type of culture you’ll need to create. Here, eight members of Young Entrepreneur Council discuss these factors and more as they share their insights on what all business leaders need to know about hiring internationally and why. Be sure to consider their advice to give your new team the best chance at success.
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The hiring process can be a time-consuming and expensive endeavor, so it benefits any company to be able to find a quality candidate sooner rather than later. But hiring quickly means you may be sacrificing many of the steps or processes necessary to find the right match for the role, such as proper vetting and interviewing. However, by adhering to the following 10 tips recommended by the members of Young Entrepreneur Council, you can weed out the wrong candidates and find the right fit quickly, efficiently and without sacrificing the quality of your hiring process.
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Being an entrepreneur requires a unique blend of creativity, vision and innovative thinking. To stay ahead in the ever-evolving business landscape, entrepreneurs need constant inspiration and fresh perspectives. Luckily, podcasts have become an invaluable (and readily available) source of knowledge and motivation for ambitious business minds. Whether you're just starting your entrepreneurial journey or are a seasoned professional, the members of Young Entrepreneur Council (YEC) offer their suggestions by answering this question:
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Running a business from the comfort of your home can be both rewarding and challenging. While a home-based business offers flexibility and convenience, it can also blur the lines between work and your personal life, leading to burnout and a lack of work-life balance. Here, Young Entrepreneur Council members share some of the strategies that can help home-based business owners set boundaries and maintain a healthy balance between both aspects of their lives.
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Delegation is a fundamental skill that every leader must hone in order to effectively manage people and achieve organizational goals. However, not all delegation methods are created equal. Here, 11 Young Entrepreneur Council members share the key strategies that are most effective for leaders when it comes to delegating tasks and responsibilities to their teams.
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The rise of artificial intelligence is revolutionizing various industries, including content writing for businesses. However, the use of AI tools to generate content has sparked a heated debate in recent times. Advocates argue these tools offer numerous benefits, such as increased efficiency, improved productivity and cost savings. On the other hand, critics express concerns about the potential drawbacks, including the loss of human creativity, ethical issues and the risk of bias. Below, 14 Young Entrepreneur Council members contribute to the ongoing discussion surrounding AI content writing for businesses, examining both the positive aspects and the challenges associated with using these tools. By learning and weighing the pros and cons, businesses can make informed decisions about integrating AI into their content creation processes.
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In any organization, maintaining a motivated and engaged workforce is crucial for productivity and overall success. However, there may be times when leaders notice a decline in employee morale and motivation. Whether it’s due to external factors, internal challenges or simply a temporary slump, leaders have a vital role to play in reigniting the spark and helping their employees get back on track. Below, 11 Young Entrepreneur Council members explore effective steps leaders can take to revitalize their teams and foster a positive work environment that motivates and inspires employees to give their best. By implementing these strategies, leaders can create a workplace where employees feel valued, supported and motivated to excel.
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Even the slightest changes can go a long way in creating a positive customer experience. Customer service is a critical aspect of any business, and it can make or break the company's reputation. Fortunately, providing a positive customer experience doesn't have to be a taxing or expensive undertaking -- even the slightest improvements can make a significant impact. For some simple yet effective strategies to improve your company's customer service, read on for eight tried-and-true tips from a group of successful entrepreneurs.
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From rejection and adversity to self-doubt, entrepreneurs will inevitably encounter many challenges as they work to build a thriving business. Fortunately, there are effective strategies new business owners can leverage to help them navigate the rough patches and stay motivated to achieve their goals. Without preparing for unexpected setbacks and downturns, a new entrepreneur may struggle to maintain the focus and confidence they need to succeed. Here, 12 Young Entrepreneur Council members share their best advice for persevering through the difficulties that come along with entrepreneurship, offering tips to help entrepreneurs stay the course and find lasting success.
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Employee turnover can be a costly issue for any organization, and it often stems from a lack of adequate training, resources or support for new employees. When new hires feel unsupported or ill-equipped to handle their responsibilities, they may quickly become disengaged and seek employment elsewhere. To prevent this situation, leaders must take steps to ensure their new employees receive the training, resources and support they need to succeed in their roles. Here, a panel of Young Entrepreneur Council members shared some strategies that leaders can implement to improve the onboarding process and set new hires up for success.
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Whether you are delivering a keynote speech, presenting a sales pitch or just leading a team meeting, effective communication is key to getting your message across and inspiring action. As a business leader, your ability to communicate effectively can make or break your career, as being an engaging speaker is not only essential for motivating your employees but also for pitching your ideas to potential investors, clients or partners. Below, the members of Young Entrepreneur Council recommend nine tips that can help you improve your public speaking skills and reap the benefits of becoming an engaging speaker.
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As much of customer service is now conducted through live chat or social media, ensuring your teams are properly trained on best practices for written communication is paramount to your success. When your staff can not only educate and serve your customers but also connect with them in a meaningful way, you’re much more likely to build a loyal following that will want to recommend you to their family and friends. According to the members of Young Entrepreneur Council, keeping these 11 tips in mind when engaging with customers in a written format can help ensure your communication is clear, helpful and likely to earn you the trust and loyalty of your customers.
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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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With the average user interacting with around nine to 10 apps a day, businesses are wise to create functional mobile apps to complement their existing digital presence. However, many companies make the mistake of creating an app that’s merely an extension of their desktop website and don’t take into consideration special features which may make the mobile user experience that much better. But if businesses are looking to increase not only customer retention but also overall customer satisfaction in the long run, they may want to consider including some of the following features, as recommended by the members of Young Entrepreneur Council. Even including just one of these nine features could greatly improve your app’s user experience.
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Apr 28, 2023
While the percentage of women-owned businesses in the United States is quickly approaching nearly half of all U.S. businesses, women in business still face many obstacles their male counterparts may not have to contend with, such as greater difficulties with securing funding and higher rates of workplace discrimination. As women entrepreneurs themselves, the following members of Young Entrepreneur Council have experienced many of these hurdles and have overcome them in order to achieve success. Here, they each discuss one piece of advice they'd give to any young woman looking to start her own business and why they wish they had heard that advice when they first started out.
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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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Apr 25, 2023
Small actions to build trust with your team can go a long way. For employees, the CEO can seem like an elusive figure -- too busy and too important to engage with on a day-to-day basis. However, leaders who take the time to build relationships with their team members can create a more connected and engaged workforce. Being approachable is key, but it's not always easy to know where to start. To help, a group of entrepreneurs shared their tried-and-true strategies for creating an approachable, open work environment and building better relationships with their teams.
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In today's digital age, data privacy has become a top priority for individuals and businesses alike. Small businesses in particular need to ensure that they are taking the necessary steps to protect their customers' personal information. By doing so, they not only comply with data protection regulations but also build trust and loyalty with their customer base. While implementing robust data privacy measures can be challenging for small businesses with limited resources, even small steps can make a significant impact. To that end, the members of Young Entrepreneur Council (YEC) weighed in on the following question:
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In business, you have those who strive for stability and the peace that comes with knowing you have a steady stream of revenue. There are also those who like to push the envelope and create the next big thing, sometimes taking big risks in order to do so. However, no business owner has to fall on one side or the other. To achieve the best of both worlds, consider the following advice from the members of Young Entrepreneur Council. Here, they offer up their best tips for how to balance the need to stay ahead of the curve and innovate with the equally important need to maintain stable cash flow and profitability.
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When it comes to finding funding for a new business, aspiring entrepreneurs have a wealth of options to select from—from completely bootstrapping the business themselves to bringing on investors who can act as business partners in addition to providing funds, to everything else in between. The trouble doesn’t necessarily lie in the lack of opportunities but instead in weighing the pros and cons of each and choosing the right one for you and your business. To help provide some clarity, the members of Young Entrepreneur Council discuss some of the more common funding sources for startups, what disadvantages they see in them and what they personally recommend you consider instead. Consider their points of view to help determine the best course of action for your business.
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For many entrepreneurs, their values are what drive the purpose of their business. Whether it’s something as simple as excellent customer service or something more complex like contributing to a particular social cause, these values can set the stage for the company’s mission and goals. But what can you do to ensure they become a part of your business’s overall strategy? To help, seven members of Young Entrepreneur Council discuss some of the ways they incorporate their personal values and passions into their business strategies as well as the tips they would give other entrepreneurs trying to align their values with their business.
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While the way a first meeting goes may not always make or break a deal, putting your best foot forward is much more likely to lead to a good result—especially when it comes to a potential new business partner or client. The first impression you make could set the tone for your whole relationship, which means it’s vitally important to strive for a positive one. To help you do this, the members of Young Entrepreneur Council offer nine of their top tips for ensuring you make a great first impression with a potential partner or client, and explain why using these methods will be so beneficial for the future of the relationship.
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Every once in a while, a new team member "wows" leadership right out of the gate. Whether it’s because they dove headfirst into an important project, shared feedback on an inefficient process or simply asked great questions, these new employees found creative ways to impress their leadership and quickly establish themselves in their new positions. As business leaders, the members of Young Entrepreneur Council have brought on many new hires over the years. Below, they each share one effective method they’ve seen new employees use to jump right into their new roles and explain why doing so can create such a positive first impression with the leadership team.
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Especially when first starting a business, finding customers can be one of the most difficult aspects of getting your company off the ground. However, even more experienced businesses can struggle to find customers if their approach isn’t dialed in. In this digital era, focusing on your digital marketing efforts can be an effective way to reach the right people. To provide further insights, nine members of Young Entrepreneur Council offer their best tips for improving your digital marketing efforts to find not only more customers but also the right customers as well as achieve greater success as a business.
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When it comes to business cybersecurity, there's no such thing as "too small a target." If your company uses poor cybersecurity practices, leaving sensitive customer or company data at risk, hackers can exploit those vulnerabilities to accomplish their goals—no matter how big or small your company is. In the same way, however, cybersecurity doesn’t have to require major capital to implement. Below, eight members of Young Entrepreneur Council each share one practical, affordable way a company of any size can protect itself and its data from hackers and phishing attacks, and why these methods are so effective.
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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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Curating a strong support network of fellow business owners and leaders can be a helpful endeavor for any entrepreneur, but especially women in business. While still an underrepresented group in the business world—especially in executive positions—women who are able to lean on the advice and support of other women in business can not only increase their odds of success, but can also find themselves more fulfilled at the end of the day. But how should they go about forming this group? Below, seven members of Young Entrepreneur Council share their best advice as well as the impact such a network has had on them in their journeys as women in business.
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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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Mar 27, 2023
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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Mar 22, 2023
Starting a new job can be stressful, so as a leader, it's crucial to make sure that your new hires feel welcome and supported from the very beginning. Here, 12 Young Entrepreneur Council members share onboarding strategies that leaders can use to ensure new employees feel welcome and that they get off to a successful start.
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As a business leader, you can sometimes make hundreds—maybe even thousands—of decisions a day. When you first start your business, the decisions you make then can often have a real impact on the way your business will function in the future, even if it seemed trivial or unimportant at the time. As entrepreneurs themselves, the members of Young Entrepreneur Council have certainly made their fair share of decisions, and below, they each share one important decision they made during the first few years of their company that impacted the way it functions today, as well as the important lessons other business owners can learn from these experiences.
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There's no shortage of business masterminds offering their expertise, and there’s plenty of business-focused events billed as "must-attend" functions. However, no leader has time to access them all and, depending on your goals, many aren't even worth your time. But if you’re a high-achieving professional who is eager to learn and grow in your role or advance your business, how do you determine which events are right for you? The members of Young Entrepreneur Council have a few suggestions. Below, they each share one factor they look at to determine whether or not a business mastermind or certain networking event is worth their time—and how you can do the same.
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Obtaining funding can be difficult for new business owners with a small or nonexistent team, but there are some effective ways to meet this challenge head-on. Launching a business as a solopreneur or with a small team can be an exciting and rewarding experience, but it also comes with a unique set of challenges, particularly when it comes to accessing funds. With limited time and resources, finding the right funding opportunities can be a daunting task for new business owners. However, there are little-known but effective ways for solopreneurs and small teams to raise capital and fuel their growth. To help you tap into these underutilized methods, a group of successful business leaders shared some helpful funding options that can assist small startup teams access the capital they need to turn their ideas into successful businesses.
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Entrepreneurs and business leaders are always on the lookout for great ideas and inspiration. Innovating, implementing new policies or redesigning current products all require a creative mindset to accomplish, and finding the right inspiration can help get you in that perfect headspace. However, sometimes inspiration comes when you least expect it. The members of Young Entrepreneur Council have all felt inspired at one time or another, but below, eight of them recall some unusual places and ways they found business inspiration and discuss what occurred after they acted on it.
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An entrepreneur with a fresh and successful idea might consider establishing a franchise, but it's not always the best move. To give them confidence in their decision, they’ll want to consider an industry which is already showing success with the franchise model. There are a number of industries and focuses that lend themselves well to this particular business model, but below, the members of Young Entrepreneur Council share nine industries that they think entrepreneurs would do well to think more about and why.
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The early days of building your startup are all about trying to grow as leanly as possible, so finding areas where you can cut costs and save a little bit of money is essential to your success. But where exactly does it make sense to cut costs? How can you do so without sacrificing quality? Below, the members of Young Entrepreneur Council answer these questions and more with their list of eight money-saving hacks they’d recommend to new entrepreneurs. Follow their advice to grow your startup on a budget—and pave the way for your business’s future success.
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There are countless successful entrepreneurs and thought leaders in the world today, each with a wealth of information and experience to share. Thankfully, many of them have written books that detail their most powerful thoughts, ideas and lessons. The difficult part comes in choosing which ones to read. For the members of Young Entrepreneur Council, the following nine books have been some of the most impactful for their businesses. Below, they discuss these books and why they believe every entrepreneur should read them in order to become better leaders for their teams.
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Rebranding is a significant, but sometimes necessary, step in a business's journey; however, if it's not done right, it may backfire. What an entrepreneur thought may have been a great way to update their brand to something more modern and in alignment with their company’s values could end up being a nightmare of confused customers and lost sales. To prevent this situation from happening, consider the following advice from the members of Young Entrepreneur Council. Here, they each share one critical yet common rebranding mistake businesses tend to make and what their leaders should do instead if they want to come out successful on the other side.
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Building a personal brand as an industry expert is no doubt one of the best ways to draw attention to your business. But it’s not just about having new ideas—when trying to build your reputation as a thought leader and expert in your field, connecting with others should be high on your priority list. After all, sharing your thoughts and experience is nothing without an engaged audience to listen to it. So how do you balance connection and creating interesting content at the same time? The members of Young Entrepreneur Council have a few ideas. As business leaders themselves, they have experience building up their personal brands as thought leaders and industry experts, and below, they share seven ways you can authentically connect with others while making the positive impression necessary to build a loyal and engaged audience.
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For entrepreneurs, publishing a book can be an excellent opportunity to share their expertise, experiences and perspectives with a broader audience. However, for first-timers, the process of writing and publishing a book can be daunting, and they may not know where to start or what to expect. To help entrepreneurs who happen to be aspiring authors, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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There can come a time for many established businesses when processes become overwhelming, projects start running off track and tech stacks can get too complicated to function cohesively. All of these signs point to a need for simplification—a “decluttering” of the business and its systems. Taking the time to review what’s no longer necessary, keeping only what adds value to the business, is essential if you want to streamline your processes—but where should you begin? Below, the members of Young Entrepreneur Council offer a few suggestions for where you can start as well as what you might want to get rid of or reconsider this year and beyond.
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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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No one enjoys having difficult conversations—especially with their boss. However, whether it’s about a problem with a co-worker, a mistake that’s been made or a disagreement on a project, difficult conversations are often necessary in the workplace and can help you and anyone else involved move forward and grow as a professional. But, that doesn’t make approaching your boss with a problem any easier. To help you learn how to do it right, eight leaders from Young Entrepreneur Council offer their advice. Here, they share tips from a leadership perspective for how to approach your manager or boss with a difficult conversation in a way that reduces your anxiety and allows you to succeed.
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As your business grows, it's important to regularly assess whether your current software-as-a-service (SaaS) vendor is meeting your needs. Some factors you can evaluate periodically are whether the vendor is able to scale with your business, provide necessary features and offer the level of support that you require — and if the answer is “no,” it may be time to move on to a new provider. To help you understand whether you've outgrown your current SaaS vendor, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Networking is a scary prospect for a lot of people. Seeking out events, speaking to new people and trying not to feel imposter syndrome while doing so can be intimidating for new entrepreneurs (and even seasoned ones). And while many entrepreneurs will give networking their best effort, they may end up accidentally sabotaging their efforts if they’re not careful. To help, 10 members of Young Entrepreneur Council discuss some of the seemingly harmless habits or actions that could actually be hindering new entrepreneurs’ networking success. Consider their advice for what to do instead in order to get the most from your networking experiences.
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Due to the monotony of everyday life and the frequent stress that comes with living in the modern world, many people often have trouble getting into a creative headspace or just thinking creatively in general. This comes as bad news for those in the business realm, as the ability to think creatively is essential to the problem solving and innovating necessary to succeed as an entrepreneur. So what can be done to improve your ability to think creatively? The members of Young Entrepreneur Council have a few recommendations. Below, they share eight actions someone can take now to start improving their creative thinking skills over time and explain why taking these steps is so effective at achieving the intended results.
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As any seasoned entrepreneur knows, building a strong leadership team is critical for the success of any organization. When it comes to hiring C-suite executives, there are many factors to consider, including experience, expertise and cultural fit. However, there are certain nonnegotiable traits that should be at the top of every leader's list when evaluating candidates. Below, seven Young Entrepreneur Council members explain which traits are critical for C-suite hires and how those traits can impact their ability to lead effectively. By looking for these traits during the interview process, leaders can make better hiring decisions and build stronger, more resilient organizations.
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A healthy company culture is critical for fostering employee engagement, productivity and overall success. However, creating a positive culture is easier said than done, and even the best efforts can fall short. When an employee comes to you with negative feedback about the company's culture, it's essential to handle the situation with care and sensitivity. To help you do this, 12 members of Young Entrepreneur Council (YEC) share their best approaches for addressing employee feedback by responding to the following question: “When an employee approaches you with negative feedback regarding the company's culture, what's the best approach for handling it? What should be a leader's first step?” Here’s how they recommend you turn this negative situation into an opportunity for growth.
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Deciding to franchise your business is a big step in entrepreneurship and there are many factors to consider before doing so. Aside from ensuring that your main business has enough financing to support your overall brand, there are legal processes that need to be completed, hiring that needs to be done, and branding procedures that must be solidified. Here, 11 Young Entrepreneur Council members note some specific questions to ask yourself when thinking about franchising your company and why you need to do so.
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Every business needs strong leadership to survive and grow. As a small-business owner, you may start out being the sole leader, but as your company evolves, you'll likely need to hire additional managers as you delegate oversight of the day-to-day operations. Hiring your first leadership roles can be difficult, but it helps to learn from those who have done it before. Below, seven Young Entrepreneur Council members offer their best advice for business owners who are looking to build a strong leadership team. Follow their recommendations before bringing your new leaders on board.
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Though they are often set with the best of intentions, it’s not uncommon for New Year’s resolutions and the motivation to meet them to fall by the wayside after a few weeks or months into the new year. Busy personal lives and stressful workdays can end up getting in the way, with “just getting by” taking precedence over any push to accomplish more than the status quo. But according to the members of Young Entrepreneur Council, your year doesn’t have to go that way. Below, they each offer their top trick for making New Year's resolutions work, especially as they relate to business, and explain why it’s possible to achieve your goals with the right plan in place.
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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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One of the first steps entrepreneurs should take after starting their business is getting word out to the public and attracting potential customers via marketing. A customer can’t find and make a purchase from a business unless they first hear about it, and this means marketing should be top of mind for any entrepreneur looking to grow their business. But when you’re new to entrepreneurship, you may not know the most effective ways to market to your audience, which could cause you to make a mistake that might unintentionally damage your efforts. Here, nine members of Young Entrepreneur Council share some of the mistakes new entrepreneurs might commonly make when it comes to marketing their business, why they fall into these traps and what they should do instead.
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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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When it comes to your professional life or your business, leveraging technology can have a major impact on how quickly and how well you’re able to get things done. But technology doesn’t have to be limited to work software or mobile apps. Often it’s the latest gadget you find yourself unable to live without. Here, the members of Young Entrepreneur Council consider their top tech purchases of late and discuss why these eight gadgets are indispensable to their day-to-day lives. If you’re looking for something to boost your productivity and improve your morale during the workday, consider one of the following leader-recommended gadgets.
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Whether you lead a bustling startup or an established business, as a CEO, your days are likely full of endless meetings, questions from leadership or staff, “fires” that need putting out and very little time to get any actual work done. Without an intentional plan or schedule, your day can get away from you, allowing your work—and your stress—to build up over time. But adding a little structure to your workday doesn’t have to be complicated. Below, nine members of Young Entrepreneur Council speak to their own experience as business leaders, each recommending one way CEOs can build structure into their workday to help them maximize their productivity and why this is so critical to do.
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Jan 25, 2023
If you're a new entrepreneur, an important task is ensuring that your business is compliant with all local, state and federal regulations. Some legal matters require immediate consideration, and you will want to address those issues as soon as possible. To help, Young Entrepreneur Council members share 10 essential tasks to handle right away when starting a business.
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Success as an entrepreneur takes more than just a good business idea -- you also need to have the right mindset. When it comes to entrepreneurial success, your state of mind is critical. Approaching your business with positivity and a goal-oriented mindset not only helps keep you motivated through the ups and downs, but it can also inspire and encourage your team to work together toward common goals. Below, a group of successful business leaders share some of the actions you can take to cultivate an "entrepreneurial mindset" and how doing so themselves has impacted their careers. Read on to learn how to apply these philosophies to your own day-to-day life.
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Bringing on new hires to your team is always a gamble. While applications, resumes and interviews can help you make an educated decision about whether or not you think someone would be a good fit for your company, you never truly know until you hire them and they start working in their role. This is why a trial period can be a useful next step in the hiring process that can help you see how a candidate tackles real-life problems. However, to ensure a trial period is an effective test of a new hire's abilities and potential, you’ll want to strategize thoughtfully. To help, eight members of Young Entrepreneur Council share their best tips for designing an effective trial period so you—and the hire—get the most out of it.
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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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Entrepreneurship is all about looking for new opportunities. Whether that means opportunities to make more money or opportunities to make a difference in a new way, entrepreneurs often keep a close eye on the business world at large, taking note of what ideas are succeeding and which need to go back to the drawing board. When a business or whole industry makes an impact, savvy entrepreneurs take notice. As business leaders themselves, the members of Young Entrepreneur Council also like to take advantage of new opportunities. Here, six members speculate about the industries they would start businesses in today if they weren’t involved in their current businesses and discuss why they believe these industries are so promising for the future.
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With the right project management tool, you can save you and your team valuable time and money as well as streamline your workflow and reduce stress. Having all your project information in one place ensures deadlines and details aren’t missed, and you’re better able to keep track of who is working on what and what roadblocks they may be facing. However, not all project management tools are created equal, and this means you’ll need to be intentional about determining which tool will best fit your team’s needs. To help, nine members of Young Entrepreneur Council discuss factors you should consider when looking for the perfect project management tool for your team and how these will help you make the right decision for your company.
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Many professionals look up to entrepreneurs for their determination, perseverance and freedom to have more control over their day-to-day lives. But even entrepreneurs have role models they look up to. Whether they’re other highly successful entrepreneurs, billionaires or simply inspirational people, the world is full of those with amazing stories who serve as inspiration for today’s business leaders. Below, members of Young Entrepreneur Council each share someone they look up to in the business world, an important business lesson they learned from them and how that lesson has impacted the decisions they make as an entrepreneur.
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While increasing the number of visitors to your site is always the goal of any e-commerce business, it’s a goal that can quickly become overwhelming if your site isn’t properly set up first. As your e-commerce business and your customer base grows, a sudden spike in traffic or just a gradual increase in purchasers over time can result in slower load times, unprepared customer service agents, irritated customers and even a total website crash. To prevent this situation from happening, it’s vital to take steps ahead of time that can help prepare you and your site for more and more traffic. Here, nine members of Young Entrepreneur Council each share one step you should take to ensure your online store can handle an increasing number of visitors and shoppers and why that strategy is so effective.
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When an employee succeeds at work, leaders should make sure that employee feels recognized for their efforts. Rewarding your staff members for a job well done not only motivates them to continue to work hard, but it also inspires others to reach the same goal. To help you reward hardworking employees for excellent performance, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Though it began in early 2021, the Great Resignation and the resulting attitude shift toward the workplace was still widely prevalent throughout 2022. Easily categorized as a job seeker’s market, 2022 was a year when employers either rose to meet the demands of their candidates or they failed to attract the talent they needed to keep operations running smoothly. With 2023 now in full swing, employers have the opportunity to start anew and reconsider or revamp their hiring and recruiting strategies to ensure a successful year. To share their own insights, eight members of Young Entrepreneur Council each share one major lesson they learned last year about how to attract top talent and how carrying this lesson forward into 2023 can help you build the best team for your company.
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Hiring the right people to join your team is one of the toughest challenges business owners may face. Not only do you want to find someone who believes in your mission, but you also need someone who fits into your company culture and has the necessary skills to succeed. There are many considerations business leaders should take into account when hiring someone new, including previous success rates, enthusiasm and clarity on the role. To ensure you're bringing on the right team members, follow these seven steps outlined by Young Entrepreneur Council business leaders.
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For an introverted or shy entrepreneur, public relations may not be a favorite activity—but it's a necessary one. Without good PR, you can’t get a positive message out about your company or connect effectively with potential stakeholders, both of which are vital to growing your business. If networking and speaking about your business don’t come naturally to you, the members of Young Entrepreneur Council have a few tips that can help you improve. Below, they discuss these tips and how they can help introverted or shy business owners successfully (and confidently) get through any public relations activities they may need to participate in for the good of their business.
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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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Every year, new technologies are introduced or improved upon that have a major impact on the business world. From major to minor innovations, and from physical machines to complex code, each advancement has the potential to change the way the world does business—and this year was no exception. There were a multitude of technological innovations and improvements within the last 12 months, and to share a few of their favorites, the members of Young Entrepreneur Council chime in below. Here, they each share one technology that they think has the most exciting implications for business in the coming year and why they believe its impact will be so great.
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Like conducting an end-of-year performance review for your team members, conducting an end-of-year review of your company’s performance can help you glean insights about where your company is currently at and where you want it to go in the future. These reviews can include anything from reviewing your finances to realigning with your original mission and vision, but according to the members of Young Entrepreneur Council, there are a few elements you’ll want to be sure you don’t miss. Below, they discuss nine of the elements you’ll want to include in your company’s end-of-year review and why, as well as how doing so can help set you up for a better new year.
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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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Dec 20, 2022
Social media isn’t the only place to find the latest trends. When taking a look at the business world as a whole over the last 12-month period, you’ll find a number of trends and initiatives that took hold of a large number of organizations. Whether it’s increased flexibility or organic lead capture, these trends grew popular for a reason—but will their popularity carry over into the new year? To share their predictions, nine members of Young Entrepreneur Council each discuss one business trend they saw really take hold in 2022 and why they think we will—or will not—continue to see this trend in 2023.
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With additional time-off requests, increased shopping and urgent customer service needs, the holiday season can be a busy time of year for any business. But for those seasonal businesses or businesses where sales really pick up during the end of the year, workload management can be a juggling act of responsibilities. To help busy businesses better strategize their time and improve overall productivity, eight members of Young Entrepreneur Council share their best advice below. Consider these tips if you and your business are starting to feel a bit overwhelmed by the heavy workload of the festive season.
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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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When you’re a small team, every employee plays a key role in the business. From marketing efforts to sales to operations, each aspect of the business needs a full team effort in order to get off the ground—and that can often mean team members work beyond the scope of the roles which they were hired for. With so much extra time and effort being put in, leaders will want to ensure their teams have all the support they need to achieve their goals. Below, eight members of Young Entrepreneur Council share a few of the ways startup leaders can show their support and set their teams up for success.
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Especially given the growing remote workforce, companies may be looking to tighten up their cybersecurity efforts come the new year. Hackers and cybersecurity threats unfortunately aren’t going anywhere, so finding new ways to secure your company’s technology and protect your customers’ data is a good practice to begin to ensure your business’s safety all year long. To offer up a few ideas for what you can do, 10 members of Young Entrepreneur Council list some of their recommendations for improving your cybersecurity efforts for the new year and why doing so is so important to the well-being of your company and its stakeholders.
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The workforce of 2023 will continue to change and evolve, from more hybrid work policies to a greater focus on global candidates. Over the last few years, businesses have grappled with decisions such as offering permanent remote work, creating hybrid work models or requiring employees to return to the office. Businesses have also faced the impact of quiet quitting and the Great Resignation, which have made them think more deeply about hiring policies, employee benefits and retention rates. In the new year, businesses are likely to see even more changes come about. Below, a group of successful entrepreneurs share their predictions for some of the workforce changes we might see in 2023 and how businesses can adapt.
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The truth is, starting an e-commerce business is easier said than done.
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Making your investors happy can always be a tricky task, but the situation can grow even more complex when your investors are your friends and family. Those new to entrepreneurship may not have the experience or opportunities necessary to seek out investments from traditional investors, which means they may turn to their loved ones to help them fund their dreams. While this is certainly a viable solution, it’s not without its risks to your relationships. To help you avoid any bad feelings should something go awry, nine members of Young Entrepreneur Council each share one piece of advice they’d offer an entrepreneur for how to keep things cordial when the relationship with their family and friends is on the line.
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Video is big for consumers—in fact, video watching has doubled since 2018—so those businesses that are not yet taking advantage of this key marketing tool are missing out on potential opportunities and leads. As the top video-sharing platform across the globe, YouTube is a great place to get started. But what exactly should businesses do? To offer some insight, the members of Young Entrepreneur Council discuss unique ways to use video-sharing platforms like YouTube that most companies are not doing and why taking advantage of these strategies can help grow your business.
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When one of your early employees decides to quit your new business venture, there are a lot of emotions to process and decisions to make. Depending on the size of your company, you might be scrambling to find someone to pick up their responsibilities — or worse, end up having to add more tasks to your already lengthy to-do list. To help you handle this difficult but common situation, a group of Young Entrepreneur Council (YEC) members answered the following question:
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A toxic workplace can lead to lower-quality work, a decrease in productivity, and employee dissatisfaction—all of which may lead to staff turnover. When you’re a leader, it’s important to address the signs of a toxic workplace as soon as you notice them in order to avoid cultivating a negative company culture. To help you deal with a toxic work environment, a panel of Young Entrepreneur Council members explain what signs to watch out for and how to address issues head-on before they spiral into a bigger problem.
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Whether it’s an unhappy complaint or a five-star review, customer feedback can be an invaluable resource for company leaders looking to improve upon their products, services or business operations. This feedback can spark either minor or major changes, but both can have a big impact on customer satisfaction and overall sales if implemented correctly. To share some of the most informative feedback they've ever received from a customer, eight members of Young Entrepreneur Council relay their stories below. Here’s what customers had to say about their products or services and the lessons these business leaders learned as a result.
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The holidays is a special time of year which often reminds everyone to feel thankful for what they have and for what others do for them. This is even true in the workplace, where employers, managers and colleagues alike share their gratitude for their teams and peers and all the hard work they put in each and every day. However, gratitude doesn’t have to be reserved for a particular time of year. In fact, in order to keep morale high and relationships strong, professionals may find it beneficial to show their gratitude all year long. To help you find ways to do so, seven members of Young Entrepreneur Council discuss the steps professionals can take to be thankful each day, no matter the time, and why it’s so important to do so.
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Obtaining an accurate valuation of your business isn’t just about determining how much your company is worth; it’s about figuring out where your business stands today and the potential it has for the future. In this way, accurately valuing your company is a vital first step in growing your business and bringing on board investors who can help you do just that. To ensure you’re taking the right approach with your valuation, consider this advice from the members of Young Entrepreneur Council. Below, they offer their top tips for determining your company’s valuation prior to fundraising and how doing so will set you up for future success.
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Speaking at events can be a great way to build thought leadership and promote your brand. But when you’re new to the business game, or even just the thought leadership space, knowing how to find, narrow down and sign up for these events can seem a little overwhelming at first. The pressure of not knowing where to begin may even prevent you from getting started at all. But finding the perfect speaking event for you doesn’t have to be an arduous task. Below, nine members of Young Entrepreneur Council each offer their best piece of advice for finding great speaking engagements and explain why these tips can set you up for success as a new thought leader.
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There's a strong learning curve to leadership, but newly promoted managers should aim to avoid these key mistakes. When you’re starting out as a new boss, there are a lot of priorities to balance and decisions to make. Often, it can feel like you're being pulled in several different directions throughout the day, so much so that it can be difficult to focus on just one thing. As a result, new bosses often make mistakes. They may struggle when it comes to delegating work, communicating or even hiring the right people. Below, a group of successful entrepreneurs shared the biggest mistakes they made as first-time bosses and what they would do differently if given the opportunity.
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Even for the most successful entrepreneurs, there are only so many hours in the day. But with all the duties, responsibilities and pressures that come with being a business owner, finding ways to improve and optimize their productivity is an important, necessary part of their day-to-day work. So how do they do it? Below, seven entrepreneurs from Young Entrepreneur Council discuss their secrets to getting more done during the workday and what other leaders can do to achieve similar results. Whether you’re just starting out or have been in the game for a few years, consider this advice to change the way you work for the better.
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Nov 14, 2022
All businesses need some sort of investment to get started. Whether that money comes from the entrepreneur, their family and friends, an investor or some other solution, if you don’t have experience raising money, it can be easy to fall into certain traps or attempt certain strategies that may seem like smart moves at the time but actually end up sabotaging your efforts later on. To help ensure this doesn’t happen to you, the members of Young Entrepreneur Council share some guidance below. Here, they discuss the biggest mistakes they ever made while trying to raise money for their startups and what they recommend others do to avoid making those same mistakes.
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Expanding your business can be exciting and a real show of success. However, there are many factors to consider when deciding on a second location for your brick-and-mortar store. To help business owners in their search for the perfect spot, 10 Young Entrepreneur Council (YEC) members weighed in on the following question:
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On a basic level, a successful business is one that generates enough sales to turn a profit every year. However, if business owners want to maintain that success over a long period of time, one strategy that’s often helpful is creating a positive community around your product, service or business. Doing so offers your customers a place to interact with each other as well as with you and your team, and fosters loyalty and passion within your fan base. However, building a community around your business doesn’t happen overnight, and it will take time and a well-thought-out plan to achieve. To help, 10 members of Young Entrepreneur Council share their best tips for building a community—online or otherwise—and why doing so is so impactful for your business.
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The holiday season is a joyous time of year—but for many companies, it can also be stressful and chaotic. Backed-up workloads, increased customer pressure and a general sense of urgency can all start to weigh on leaders and employees alike, leading to reduced productivity and low team morale. So when work starts to feel too chaotic and overwhelm sets in, fall back on this advice from the members of Young Entrepreneur Council. Below, they each share one tip they have for regaining order amid holiday chaos and getting your team and your company back on track for the new year.
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When just starting out, many new business owners don't have all the financial tools or experience they may need to run a business successfully. They may rely on their peers, what information they can find online and various business books to get them started, but nothing can truly beat experience when it comes to knowing how to handle and succeed with money in business. That’s why eight members of Young Entrepreneur Council offer their best guidance below. Here, they each share one financial tip they wish they had known when they got started, and why this advice can help any entrepreneur get their business off the ground successfully.
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Cybersecurity becomes more important with each passing day, as advancements in both technology and the methods used to hack into it continuously evolve. But while the tech world continues to move ahead at a fast pace, not all business leaders are able to keep up. Though they may have a basic understanding of how to keep their technology and data safe, they may not be aware of all the various strategies they could employ to improve their cybersecurity efforts. To help, eight members of Young Entrepreneur Council discuss several cybersecurity "checkups" companies should be conducting on a regular basis to ensure their data and tech are secure and why these efforts are so vital to the ongoing success of any business.
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When you’re an entrepreneur, the way you start your day can greatly influence the rest of your workday, giving you the motivation you need to stay productive or setting you up for failure before you’ve even started. Rather than leave your morning to chance, finding ways to prepare for your morning the night before can help you ensure you have the right mindset and tools for a positive next day. To offer a few ideas on how to do just that, seven members of Young Entrepreneur Council share the routines that they’ve implemented for the end of their workdays and the individual habits they have that help set them up for successful mornings.
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From DiSC to Myers-Briggs, there’s no shortage of personality tests available today. While leaders often use these tests to better understand their current teams, personality assessments can also provide critical information on prospective hires. Here, nine members of Young Entrepreneur Council share what you can learn about candidates through personality assessments—and what you can’t—and how they can be useful in finding the right talent for your team.
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No matter what industry you're in, it's important to ensure that you have enough capital to maintain your business year-round. However, this is especially important if demand for your products or services ebbs and flows based on seasonality, such as with pool accessories or holiday decorations. To that end, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Whether they intend to promote them internally or simply want what's best for their careers, many business leaders make it a priority to develop their employees into leaders themselves. Doing so not only helps ensure the company has high-quality talent to run it, but it also ensures employee happiness as they see their leader caring for their personal and professional development. If you’re a leader looking to undertake this journey, consider the following advice from the members of Young Entrepreneur Council. Here, they each recommend one specific, actionable step employers can take now to help develop their employees into future business leaders and well-rounded employees.
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Many people dream of becoming entrepreneurs, but not everyone knows how to get there. What steps should you take? What skills should you learn? The path to entrepreneurship is rarely easy, but getting started on the right foot can help you succeed along the way. For those ready to take the leap into business ownership, leveraging your downtime will be key to making progress toward your goal. To help, nine members of Young Entrepreneur Council share their insights with aspiring entrepreneurs and explain what they should be doing in their downtime now to prepare to start their entrepreneurial journeys.
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Naturally, the goal of any business leader is to achieve financial success. This can mean many things depending on the entrepreneur and their objectives, but it often starts with money left over at the end of every month. However, after achieving this goal, the issue then becomes what to do with the extra money. Whether it’s reinvesting in the business or supplying your employees with new benefits or perks, there’s no one way to use excess profit, which is why the members of Young Entrepreneur Council share their top tips for leveraging extra money below. When your company has grown and you’ve seen a certain amount of success, consider these next steps for improving your business and your peace of mind.
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The recruiting and hiring process is one of the most important aspects of business, as a single hiring decision can have a major impact on the way the rest of the business functions. To make the right decisions during this process, business leaders can collect and analyze data to assist them in their efforts. But once leaders have collected this information, what do they use it for? How can they best leverage it to not only hire the right talent but also improve the recruiting process overall? Here, seven members of Young Entrepreneur Council discuss ways business leaders can use data to support their recruiting efforts and how doing so can help them achieve their goals.
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When it comes to work and getting things done, effective communication is about more than getting along with your teammates. In a business context, communication can affect not only the interpersonal relationships of the people who work there, but also the speed at which a project is completed, the quality of a product and even the rate at which employees leave the company. Effective communication, then, acts as a solid foundation necessary for any business to thrive. To help build up this foundation, you’ll first need to clear out any of the mistakes, such as those listed by the members of Young Entrepreneur Council. Below, they share some of their biggest communication pet peeves in business, and what people can do to communicate more effectively at work.
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When you start a business, you not only become a part of your local community, but you also join a network of local business owners. Being part of this business network means you can often find help among your fellow entrepreneurs and even lend a hand yourself when others are in need. This may come in the form of advice, but it can also take the form of partnerships where you both support each other’s businesses while also marketing your own. There are a few ways to take on a partnership like this, so business owners can choose which solution works best for their situation. Below, eight members of Young Entrepreneur Council share the methods they recommend any business use and why this kind of partnership can be beneficial for both parties.
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Despite the more relaxed environment and constant distractions, there are plenty of ways to display your professionalism from your home office. As more companies allow employees to work from home, it can be challenging to maintain the same sense of professionalism that may have come more naturally in a shared office setting. It can be tempting to work in sweatpants all day or leave the TV on in the background when no one else is working around you. There are also many distractions at home that may not be present in the office, from children playing to dogs barking to the pile of dirty dishes or laundry across the room. When you’re a leader, it's important to consciously exude professionalism while working from home, especially if you're highly visible on video calls throughout the day. Below, eight successful business leaders shared their best tips for ensuring you're perceived as "professional," even in the comfort of your home.
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Sharing bad news with your company's employees or stakeholders is never easy, especially when the bad news may directly affect them. Because of this, it's important to strike the right balance between remaining calm and professional while delivering the news in an empathetic manner. To further help you through this situation, the members of Young Entrepreneur Council (YEC) answered the following question:
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As they plan for this year's holiday season, many business leaders are looking for something new to shake up their current marketing routine. It’s easy for holiday marketing to grow stale, especially when relying on old gimmicks or traditional strategies of years past. To stand out among the sea of other eager businesses looking to increase sales, companies will have to think a bit more creatively. To help, nine members of Young Entrepreneur Council each list one thing businesses can do to make their holiday marketing stand out from years past and explain what effect this will have on their relationships with their current and future customers.
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Many employers talk about wanting "employee loyalty," or employees who will give their all to their role and to the company in order to help it succeed. But what's talked about less is what employers can do to actively earn this loyalty from their employees, leaving employers with no action plan for how to inspire this kind of behavior in their teams. To offer some guidance, seven members of Young Entrepreneur Council discuss several areas employers can improve upon in order to earn employee loyalty and trust. Consider the following advice if you want to build a work culture of support and positive action from both sides.
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Resolving conflicts in the workplace is imperative to a healthy workplace culture. Leaving conflicts unsolved builds resentment among team members and creates a toxic environment that can be distracting from the work that needs to be completed. As a leader, it's your job to help resolve any conflicts that arise and act as a mediator between employees when necessary. Properly handling conflict resolution can also help influence employees to better solve future conflicts on their own. To help get you started, 10 Young Entrepreneur Council experts share different ways they recommend approaching conflict resolution and the example that sets for your team.
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Despite female entrepreneurship trending upward—especially in recent years—on a global scale, male entrepreneurs still outnumber their female counterparts three to one. Statistics like this one, paired with feelings of doubt and a sense of imposter syndrome any aspiring entrepreneur is sure to feel when starting out, can often leave young female entrepreneurs with one or more limiting beliefs that can hold them back from accomplishing everything they’re capable of. However, according to the members of Young Entrepreneur Council, the following seven beliefs are unfounded and wrong, and below they share why a change in mindset can set you on a better path toward success and give you the boost of confidence you’ll need to thrive as an entrepreneur.
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Maintaining good relationships with your vendors helps ensure that you consistently receive the goods and services you need and achieve mutually beneficial goals. But when the buyer-supplier relationship begins to sour for whatever reason, it may be best for your business to cut ties and move on. To help you determine whether it's time to seek out a new vendor partnership, 11 Young Entrepreneur Council (YEC) members shared their insights on the following question:
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An advisory board can be a helpful resource for a business at any stage of growth. Whether you're launching a brand-new startup or looking to exit after a period of successful growth, getting advice from experienced leaders in your industry can help you reach your goals in the most efficient and well-planned way. If you've never built a board of advisors before, it can be challenging to identify the right members to bring on. Below, eight members of Young Entrepreneur Council each share one essential trait of a quality board advisor and why this trait makes them an excellent asset for your business.
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One of the biggest challenges of getting a new business off the ground is gaining traction in your target market. Building awareness requires an effective public relations strategy that can create a steady stream of positive news about your company. When you're on a small startup budget, you may not have the immediate resources necessary to hire a PR firm. Fortunately, there are some simple strategies you can employ to drum up publicity yourself. Here are 10 ways to encourage positive press for your business, as recommended by the members of Young Entrepreneur Council.
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Running a small business can be time-consuming, so certain tasks may be pushed back in favor of more pressing ones. One task that should be prioritized, however, is professional development. By making the time to learn, you'll be better poised to grow as a leader and scale your business for the long term. To help you achieve this, a panel of Young Entrepreneur Council (YEC) members responded to the following question:
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Creating great content on social media doesn't mean much without a highly engaged and loyal following. Whether it's Instagram Stories, Facebook Lives, or TikTok videos, there are more ways to interact with your audience online than ever before. However, once you capture your audience's attention, you'll need to keep them engaged. Because your brand is competing with the countless other accounts your audience may be following, sustaining engagement from your followers may require some unique and unconventional strategies. To help, a panel of Young Entrepreneur Council members each share their insights on audience engagement.
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When it comes to social media marketing, much of it can be done on a limited budget—or sometimes even for free. It costs nothing to create an account and start posting, but there are other aspects of social media that will likely require an investment. And whether you’re working with limited funds or you have a much broader budget at your disposal, choosing the right areas of social media marketing to dedicate the bulk of your budget to can help ensure you’re set on a path toward success. In order to narrow down which areas you believe deserve the most attention, consider the following recommendations by the members of Young Entrepreneur Council. Below, they share 10 areas of social media marketing they believe deserve the bulk of your budget and why.
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When a professional’s goal is to be an industry thought leader, the natural first step is to get their ideas out into the world. For many, this means writing an article. But once you’ve written an article—or many, many articles—what else can you do to show off your expertise and connect with others in your space? Thankfully, the journey to becoming a thought leader doesn’t end with writing, and there are a myriad of ways professionals can promote themselves online or in person. To offer their insights, the members of Young Entrepreneur Council each share one step a professional can take to become an industry thought leader and why these actions are so effective.
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In some professionals' eyes, one "con" of remote work is the lack of visibility. Without your peers or your boss around you to notice you working on a project or accomplishing your goals, it can be all too easy to feel siloed, isolated and like you aren’t getting the recognition you deserve for your hard work. But just because you aren’t physically around your boss when working remotely doesn’t mean you can’t achieve the same level of visibility as you would in the office. To help, eight members of Young Entrepreneur Council discuss the tips they'd give employees for how to increase their visibility and get their projects (and their hard work) noticed.
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One key way of ensuring your team members have the tools and knowledge to do their jobs to the best of their abilities is to provide them with plenty of feedback. But between busy schedules and stressful projects, leaders may think it too difficult to find the time. So while many employees may be eager to receive more feedback from their leadership, companies aren't necessarily providing it. However, giving honest, constructive feedback or praise doesn’t have to take up a lot of time—nor be relegated to once-a-year performance reviews. Here, eight members of Young Entrepreneur Council discuss specific ways managers can create more opportunities for feedback during their employees' workdays and why these methods are so effective.
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In an age when more and more businesses are moving to or being created online, one advantage brick-and-mortars have over online stores is their ability to create in-person experiences and atmospheres that can surprise and delight their customers. Experiences rife with human connection and sensory enjoyment simply aren’t able to be duplicated in the online space in the same way. The key to creating those moments, according to the members of Young Entrepreneur Council, is playing to your store’s strengths. Below, they share specific strategies you can use to awe your customers and give them a truly memorable in-store experience.
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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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In marketing, attracting new customers is only one half of the equation; businesses must also focus on how to keep those customers once they earn them. Sending customer retention emails is one way to help accomplish this. But simply asking customers to make another purchase likely won’t be effective—and could come off as pushy, which may turn off otherwise interested customers. So what’s the right approach to take? What should businesses include in these emails, and why? Below, the members of Young Entrepreneur Council each name one tried-and-true tip they have for effective customer retention emails and explain why these tips help keep customers engaged and coming back for more.
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Sep 19, 2022
While there are a lot of "right" things to say during a sales conversation, there are also some “wrong” things that could turn a potential customer away. Sales calls can be high-pressure situations for a sales rep, as it can be difficult to hit all the right notes and say the right things to convert a prospect into a paying customer. But just as important as knowing what to say is knowing what not to say. For instance, immediate questions about budget and when to follow up might be perceived as pushy and turn a potential customer off from working with you. To help sales teams avoid this fate and instead win their prospects over, a group of successful entrepreneurs explain which questions to avoid during a sales conversation and why.
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Innovation is often a key driver for long-term business success, but in order to properly innovate, you have to get creative first. A creative flow state, or any length or period of time during which a professional can think and create uninterrupted by distractions or intrusive thoughts, can be beneficial to those aiming to generate quality ideas in less time—but getting into this state isn’t always the most straightforward task. To help, six members of Young Entrepreneur Council share their best tips for getting into a creative flow state and explain how these methods help them achieve their creative goals.
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Small businesses have taken a hit over the past few years with pandemic-related supply chain issues and increased inflation. Throughout these challenges, many business owners have been able to pivot and thrive in the current climate. However, there is always room for continued financial improvements to promote sustainable long-term growth. To help, 10 members of Young Entrepreneur Council (YEC) answered the following question:
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Your website’s landing page gives customers their first impression of your business. Customers will notice if your page has a slow load time, too many calls to action, broken links, or if it’s just too confusing to use—and they will likely click out of your page before viewing your products or services. This is why it’s so important to have a strong landing page that draws customers in, instead of pushing them away. From A/B testing to focusing on SEO keywords, Young Entrepreneur Council members share 12 best practices for optimizing your website’s landing page.
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If your team's morale seems a bit lower than usual, acknowledgement and rewards for their hard work can go a long way. As a leader, maybe you've noticed low team morale following the submission of a large proposal or after turning in a long-term assignment. After periods of high productivity, whether professionally or personally, your employees may need to recharge. There are many different ways leaders can help facilitate this, from giving extra time off to rewarding all that hard work with a fun activity or prize. Below, 10 Young Entrepreneur Council members share some specific exercises, activities and advice for leaders to encourage employees to get back on track.
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Sep 14, 2022
Releasing a mobile app is often an exciting next step in many entrepreneurs’ journeys after their websites are up and running successfully. However, in the excitement of building and launching their mobile app, it can be easy for an entrepreneur to forget one of the most fundamental aspects of creating this technology: protecting it. With cases of cybercrimes only predicted to rise in the coming years, not making cybersecurity a priority puts your app—and those who use it—at risk for data theft, lost money, fraud and much more. Here, the members of Young Entrepreneur Council discuss some of the precautions companies can take to safeguard their mobile apps against cyberattacks and cybercrimes. Taking even just one of the following precautions can put you and your business in a much more secure place.
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As companies continue to face supply chain issues across the board, many are looking for solutions to help them get back on their feet and heading toward “business as usual.” Even when the current supply chain storm passes, savvy business leaders will be looking ahead and preparing for the next time processes go awry. To help, nine members of Young Entrepreneur Council share their advice for how entrepreneurs can weather the current supply chain storm, and explain how these tips can help them build better processes for the future.
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While you may have started your company blog with a wealth of original, valuable content ideas, after a particular length of time in business, you may find your creativity lacking and your blog content suffering with the same old topics and ideas. With so much content already out there on the internet, it can be difficult to constantly generate new ideas that your audience will be interested in reading. But according to the members of Young Entrepreneur Council, there are a number of ways you can revitalize stale blog content. Below, they discuss these strategies and share their advice for giving your blog content a much-needed creative boost.
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The partnership you have with your co-founder is arguably the most important relationship you'll build as an entrepreneur, so it's important to keep it healthy. Constant arguments or disagreements about how the business should be run will only divide your relationship and your company, weakening them as well as your chances of success. To achieve a healthy relationship, then, the members of Young Entrepreneur Council have a few tips in mind. Below, they each share one piece of advice they have for building a healthy co-founder relationship and how these tips will help you maintain a healthy relationship for the long term.
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Sometimes, leaders aren't able to grant an employee's request for a raise, whether it's because there's no budget for it or because the person's performance or skill set doesn’t currently warrant one. In either case, leaders need to focus on tact and kindness when declining the employee's request — a task that may feel awkward or uncomfortable for leaders who have never done it. To help leaders in this situation, 10 Young Entrepreneur Council (YEC) members answered the following question:
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While nearly every role has some degree of creativity involved in its duties, heavily creative roles such as those in social media content creation, marketing, video production, copywriting and more naturally require a different skill set from those roles that may rely more on logical or analytical thinking. When hiring for these roles, then, employers will be basing their decisions on a different list of desired traits and skills. So what exactly should aspiring creatives be focusing on improving or highlighting on their resumes? Below, the members of Young Entrepreneur Council share nine skills and traits they look for when hiring for a creative role and why a candidate who possesses them is so appealing.
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If you're building a product for your new business, you'll first need a solid prototype. This will help you better visualize your concept and start getting necessary feedback from customers or peers. But if you’re just starting out as an entrepreneur, you may not yet have the budget for multiple iterations or complex software or tools to build your prototype, so finding a way to save money will be key. Every entrepreneur starts somewhere, and the members of Young Entrepreneur Council are familiar with working within the constraints of a small budget. Below, they offer up a few of their best tips for creating a prototype on a limited budget and why they’ll help you get started.
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Choosing the right software as a service (SaaS) tools for your business can prove to be a Herculean task. Whether it's for accounting, marketing or HR, it's important to choose software that will grow with your business and offer ongoing support for your questions and needs. It's also important to consider how well your SaaS selections will integrate and communicate with each other. As you make your decisions, the members of Young Entrepreneur Council recommend asking yourself the following 10 questions. You might find that the answers can help make assembling your SaaS stack a little bit easier.
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Creating a new business idea is exciting, and it can be even more thrilling when you have a business partner by your side. However, for a partnership to flourish, it’s important to discuss the day-to-day operations and long-term vision for the business right from the start. From taking the time to set collective goals to establishing trust, 11 Young Entrepreneur Council members share the first steps new business partners should take when launching a venture. Follow their advice to set yourself up for success when starting a business partnership.
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With companies still adjusting to the pandemic-fueled surge in remote and hybrid work environments, many company leaders are struggling to build a cohesive company culture that is inclusive of both their in-office and remote teams. Though their staff may benefit from the flexibility these environments provide, they can also suffer from a lack of community and belonging when separated from their peers. While a company composed of both in-office and remote teams can’t have the exact same dynamic as a fully in-house staff can, they can still build a cohesive community feel and culture that ensures everyone is included and heard—as long as it’s approached the right way. Here, the members of Young Entrepreneur Council share five actions you should be sure to avoid if you want to build a successful company culture between your in-office and remote teams and why it’s so important to do so.
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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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Aug 26, 2022
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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To encourage sales, your product—and the platform you're selling on—needs to be appealing to prospective customers. Hard-to-use platforms or unattractive site designs that make a consumer pause should be avoided at all costs. But what seems intuitive to you and your team may not be so to the average user. When you’re building your company website or app, user experience research helps mitigate this problem. Below, 10 Young Entrepreneur Council members explain how to conduct effective UX research and how it will help your business in the long run.
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Maintaining a positive relationship with your clients is important for both your business and theirs. However, there are times when your team and your client may disagree about how a project or initiative is being carried out. In cases like this, you'll want to find a solution to move forward respectfully, efficiently and collaboratively. To help you do this, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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A healthy employee is a happy employee, and many companies that understand this go out of their way to support the health and well-being of their employees by offering employee wellness programs. However, even if a company offers an employee wellness program, its benefits can often go unused by employees. In fact, some studies suggest usage of employee assistance programs is as little as 10%. So how can concerned employers raise participation rates and encourage better health for their team members? Below, the members of Young Entrepreneur Council share nine tips for getting employees interested in your company’s wellness program and their own health and fitness.
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When it comes to brand building, consistency is key. If your brand is humorous and witty one day and then stark and serious the next, or if your logo has a certain look on your product packaging but a completely different look on your website, your customers may struggle to identify who you are and what you stand for—and that can translate into fewer sales and less interest overall. One easy way to ensure brand consistency is to build a style guide. This guide should contain all the “rules” of your brand’s style and use, and can be used by all members of your staff to keep your brand consistent across mediums. But before you get started building your own, the members of Young Entrepreneur Council recommend you consider these nine points to help make your style guide a thorough one.
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Members of Young Entrepreneur Council share their insights on what makes effective ad copy. When it comes to advertising campaigns, you can tell when a brand has knocked it out of the park. The message is concise but impactful, and it communicates what the reader needs to know while drawing them in to learn more. Equally clear is when ad copy has missed the mark and produced an ineffective campaign. Fortunately, brands can follow a few basic principles to produce excellent, conversion-worthy advertisements. To that end, 14 members of Young Entrepreneur Council offer their descriptions of the best ad copy and why they believe every marketer should meet these standards.
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Choosing an investor for your business is like choosing a business partner: Their resources and input are going to have a major impact on the way your business functions and the potential it has for success. Determining the right investor for you, then, is not an endeavor to take lightly. As business leaders, the members of Young Entrepreneur Council have experience seeking investors and weeding out the bad from the good. Below, they provide a list of nine questions you can ask yourself to gain insight into your needs and wants, and help you determine your ideal business investor.
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Business travel is an excellent opportunity to make new connections and close deals. However, between transportation, meals, accommodations and other per diem expenses, it's easy for a traveling professional to rack up a hefty bill. To help busy travelers find ways to keep costs down during a business trip, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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While they may be effective in drawing in more customers, many ad campaigns come and go, doing just enough to catch audience attention and increase brand awareness. However, there are other campaigns that truly stick with an audience—be it a niche group or even an entire generation. These campaigns are not just memorable, but they’ve often become part of popular culture. Whether it’s with their humor, their emotion or their important message, these ads inspire and entertain all while teaching other companies what makes a truly effective campaign. Below, eight members of Young Entrepreneur Council describe the ad campaigns they greatly admire and the lessons they’ve learned about advertising and beyond.
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Live video is in high demand among social media audiences, but developing content that truly captivates people requires the right strategy. On nearly every major social media platform, live video has proven to be an effective way to draw in new audiences and boost engagement. However, creating good live video content can be a real challenge. Your audience will be responding in real time and you need to make sure that the content you've prepared is polished enough for a live stream. The content also needs to be engaging enough to keep your audience watching. If you're looking to incorporate live video content into your marketing strategy, follow these tips from a group of successful entrepreneurs. Their secrets to success will help you develop content people actually want to watch (while also boosting your sales).
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Negotiating your salary—especially when you haven’t officially gotten the job—can be a frightening prospect. Obstacles like imposter syndrome or inexperience can make you feel as though you should just accept the company’s original offer and move on, but it’s important to know your worth and to advocate for yourself if you believe you deserve a higher salary. However, even if you build up the confidence to negotiate, knowing exactly what to say—or what not to say—is yet another obstacle to overcome. To help, 10 members of Young Entrepreneur Council each share one thing you should never do if you want to successfully negotiate your salary, and why doing them might actually hurt your efforts from the start.
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Marketing is one of the most vital aspects of business, as without any marketing efforts, your target market won’t ever hear about or find your product or service. But because of its importance, that also means marketing can come with some tough decisions. Whether it’s about what direction to take, who to work with, what your messaging should be or where to allocate your resources, these choices can have a major impact on the potential success of your product or service. When you’re tasked with making these decisions as a leader—no matter if you make the right ones or the wrong ones—you’re bound to learn something along the way. Below, the members of Young Entrepreneur Council describe their toughest marketing decisions and the lessons they learned as a result.
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A company’s chief operations officer—or COO—is responsible for one of the most important aspects of business: its day-to-day operations. Because the current and future success of any business depends on it functioning like a well-oiled machine, making the right hire for the COO position is key. But while many company leaders will focus on the traits they do want to look for in a COO, it’s equally important to know what you don’t want to look for, as certain traits or characteristics that may seem harmless in another position could make a candidate a poor fit for the COO role. To share their insights on the issue, the members of Young Entrepreneur Council discuss eight types of people you might want to steer clear of when hiring your company’s COO and why they likely wouldn’t be the right person for the job.
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Every team needs someone who they can turn to for guidance, inspiration and motivation. Without a great leader, a business may quickly find itself directionless and producing poor results. As successful business leaders themselves, the members of Young Entrepreneur Council have learned a lot about effective leadership during their careers. Below, nine of them share some of the lessons they’ve learned recently, and explain how these lessons have helped them improve their leadership skills and, ultimately, their businesses.
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Employers look for a variety of qualities and traits in job candidates. While you’ll always want to highlight the hard skills that are relevant to the position you’re applying for, there are also soft skills that could help you land a job, even if you’re a little less qualified than the other candidates. Because it’s so important to develop these skills to impress potential employers, the members of Young Entrepreneur Council offer their insights on the soft skills they think are key to succeeding in any career and why you should develop them if you want to get hired.
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If bad managers are a top reason why people quit their jobs, you should strive to be a leader who makes people want to stay. Managers can make or break a company. A good manager can drive a team forward, keeping them motivated and interested in working toward company goals. A bad manager, however, can drive great employees out the door with a complete lack of inspiration and guidance. To help businesses avoid creating the kind of leadership team and culture that make people want to quit, a group of successful entrepreneurs shared what they believe it takes to be a good manager. Follow their recommendations to become the type of manager no employee wants to leave.
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Considering all the emails consumers receive on a daily basis, email marketing can be a tricky form of marketing to undertake. However, when done right, it can be an effective communication tool to gain new clients and customers. This also means that, with a little strategic planning and creative thinking, businesses can leverage their email marketing to increase brand loyalty and keep customers. But how do they do it? Here, a panel of Young Entrepreneur Council members share pointers on how businesses can improve their email marketing to boost brand loyalty and why this marketing tactic works so well.
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Taking up a side hustle has become increasingly popular and easier to achieve in the modern digital age. While there are countless side hustles people can take advantage of, there may be a few opportunities that are more lucrative than others. If you're looking for your next side hustle idea, it helps to get inspiration from individuals who have successfully launched and grown businesses themselves. Below, members of Young Entrepreneur Council each share one side hustle they believe will be popular in the coming years and why each one is such a good opportunity.
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During job interviews, prospective hires strive to put their best foot forward and provide thoughtful, impressive answers to the interviewer's questions. While there are countless interview questions an interviewer can ask during the meeting, it's crucial for interviewees to ensure the answers they give aren't stale. No matter whether a prospective hire is only saying what they think the interviewer wants to hear or they've searched how to answer a question "correctly," some interviewers can get tired of a seemingly rehearsed answer. Below, 10 members of Young Entrepreneur Council share the rehearsed interview answers they're tired of hearing and what candidates should say instead.
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Small businesses starting from scratch have a long road ahead of them when it comes to building a brand. Defining a mission, finding your voice and building trust all take time to develop, but luckily there are a few key steps new entrepreneurs can take to get there a little faster. To help get you started, a panel of Young Entrepreneur Council (YEC) members responded to the following question:
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As a new leader, there's an exciting sense of accomplishment when you deem your company "open for business." However, there are multiple decisions left to be made on the operations side that can make a new organization sink or swim. This is especially true if you have employees who are counting on your leadership to grow a successful business. To share their insights, nine Young Entrepreneur Council members each discuss one common operational mistake leaders make when first starting out that can jeopardize the future of their business. If you're concerned about your startup's success, read on to learn how these entrepreneurs recommend avoiding these common errors.
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Members of Young Entrepreneur Council discuss the keys to success when it comes to corporate social responsibility. With today’s consumers becoming more and more socially conscious about where and how they spend their money, their expectations for the brands they support have risen. To continue to succeed, brands are putting greater emphasis on corporate social responsibility, looking for ways to have a positive impact on their local and global communities beyond just making a profit. For brands that haven’t yet started this journey, or for those looking to level up their current efforts, taking a few key steps can help jump-start their success. Below, 10 members of Young Entrepreneur Council elaborate on those steps and why they’re so vital to getting started.
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It’s not uncommon to hear the phrase, “Well, that could’ve been an email,” when leaving a meeting the attendees considered to be a waste of time. Whether it’s because the discussion fell off track or the intent was never all that clear, there are a number of reasons why nearly three quarters of meetings are considered to be unproductive. So when those meetings occur that simply can’t be resolved with a simple note or email, how can leaders ensure that they’re making the best use of everyone’s time? Below, a panel of Young Entrepreneur Council members discuss some of the steps leaders can take to make sure their next meeting is actually useful and productive for all involved.
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In the remote work era, the boundaries between work and personal time have become increasingly blurred. But regardless of work environment, industry or even job level, it can be difficult to "turn off" work when the day is done, leaving professionals to struggle with consequences like burnout, mental health crises and increased stress levels. As experienced business leaders, the members of Young Entrepreneur Council know that a poor work-life balance can be a significant obstacle on the road to success. Below, 10 of them share some clear signs that you might need to improve the balance between your personal and professional lives, as well as how you can achieve it.
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Owning a business is one of the most challenging endeavors a person can take on, and owning a small business is no exception. From strategizing to delegating and everything in between, there are many difficulties that small-business owners face, yet most of them would say that it's all worth it in the end. To offer their thoughts on why facing such trials and tribulations is worth it, a panel of Young Entrepreneur Council members answered the following question:
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With so many technological advancements taking place and remote and hybrid workforces on the rise, recruiting and hiring processes are much different than they used to be. These days, apps, software and social platforms are where many companies go to seek new talent. Depending on your industry and company culture, however, some software will be more beneficial than others when it comes to hiring. Here, 10 members of Young Entrepreneur Council discuss their picks for today's most impactful apps and software for recruiting and hiring.
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After the Covid-19 pandemic hit and lockdown was in full swing, many businesses were forced to figure out how to run their operations remotely in order to stay afloat. Although business is regaining a sense of normalcy now, many job applicants continue to look for hybrid work environments when seeking potential job opportunities. Many companies have thus realized the benefits of operating under a hybrid work model, but they still need to ensure their hybrid work environment is appealing to candidates. Here, 11 members of Young Entrepreneur Council discuss various ways for business owners to ensure they’re providing what potential hires are looking for.
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Modern automation capabilities can free up workers’ valuable time to help them be more productive and focus on big picture tasks that will further a company’s vision. With so many tools available, how can you determine which automation technologies would be best for your company? To help you decide, 10 members of Young Entrepreneur Council share a few of their favorite tools that have helped them automate their work and boost productivity.
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Members of Young Entrepreneur Council discuss how to build a company culture that can successfully handle any issue, mistake or challenge that arises. Businesses thrive when leaders and their teams are able to quickly pivot and change direction when necessary. Trends change frequently and problems often arise unexpectedly, and when this happens, successful companies make the changes needed to rise above the challenge. Not everyone is naturally adaptable, though, so leaders must cultivate adaptability within themselves and within their teams to achieve their goals. Below, 11 Young Entrepreneur Council members share some practical ways leaders can help build cultures of adaptability for their own companies.
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Whether it's your first launch, a relaunch or the introduction of an add-on feature, a product launch is an exciting time for any business. Because every launch is unique, there's a lot of preparation that goes into it, and you and your team may have spent weeks, months or even years perfecting the product for this very moment. It's easy to get swept up in launch day excitement, but it's important to take steps to ensure the big reveal goes off without a hitch. To help, seven members of Young Entrepreneur Council discuss some surefire ways to ensure your product launch goes smoothly.
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No matter if working with a team is part of your daily routine or if it’s something you only need to do for special assignments, it's important to understand how to maintain creativity when working together. With a variety of minds and personalities working together, creative thought should flourish—but there are a few factors that can sabotage it if everyone isn’t careful. In order to avoid these factors, however, first you must identify them. Below, nine members of Young Entrepreneur Council discuss these sabotaging factors and what teams and their leaders can do to prevent them.
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As a leader, it’s natural to want to reward high-performing employees when they’re already doing so well and they’re likely having the biggest impact on the company’s bottom line. However, focus and support should also be given to average or low-performing employees to benefit not only the company, but also the employees as they continue on their career journeys. Sometimes, a little acknowledgment and a listening ear is all an average or low-performing employee needs to perform at their best. Here, nine members of Young Entrepreneur Council discuss the things a leader can do to help support and manage an average or low-performing employee and why these things are important.
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Innovation drives a business forward, so it’s important to know how to tap into it as well as harness the creativity of your team. To help you create an environment that’s conducive to brainstorming and new ideas, 10 members of Young Entrepreneur Council share their best tips below.
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Members of Young Entrepreneur Council recommend apps and software that can help improve your social media marketing strategies. With so many companies using social media platforms like Facebook, Twitter, LinkedIn, YouTube and even TikTok, getting noticed and keeping up with the time-consuming demands of a social media marketing strategy means taking your social media game to the next level. Whether it’s saving your team time on the back end or streamlining your content creation efforts, there are a multitude of ways you can improve your current strategy. Below, a panel of Young Entrepreneur Council experts recommends the top software for leveling up your social media.
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If you’re an aspiring entrepreneur trying to level up your skill set—or even a seasoned entrepreneur looking to learn something new—you’re bound to come across a wealth of information about your industry and business and leadership in general. Whether it’s in the form of books, podcasts, articles, videos or any other medium, it can be a lot to sift through, and determining what content (and what format) to focus on can be challenging for those who are unsure where to start. So how do you determine what’s worth your time and effort to consume in order to keep up with your skills and knowledge in your industry? Below, six members of Young Entrepreneur Council share their tips for how to narrow down the list and determine what content is right for you.
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For years, podcasts have been delivering high-quality content to businesspeople around the world. Whether you're looking for business advice, inspirational feedback, personal stories or industry updates, there's a podcast to suit your fancy. To offer up an idea of the best business podcasts out there today, 11 professionals from Young Entrepreneur Council (YEC) respond to following question:
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One path for starting a business is to leverage a startup accelerator. These programs offer mentorship and education to new business owners while providing funding opportunities in exchange for equity. You may even find there are certain nuances and eligibility requirements to abide by during your search for the right startup accelerator. If you're an entrepreneur trying to determine the right accelerator to apply to, the members of Young Entrepreneur Council can help. Below, eight members discuss what to look for when choosing a startup accelerator for your business.
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When trying to solve a problem—small or large—many people may tend to rush to a solution in order to get a process in motion or to just get it off their plate so they can focus on other things. However, this method has the potential to create negative consequences, especially if the wrong decision was made or all variables weren’t considered. To help prevent this situation, it’s vital to slow down your problem-solving process. To do this, consider these tips recommended by the members of Young Entrepreneur Council. Below, they discuss their advice in detail and explain why it’s so important to think problems all the way through—especially as a business leader.
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Jun 2, 2022
Staying motivated can be one of the most challenging parts of reaching your goals and living the life you want.
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Good customer service teams can help maintain healthy customer relationships and build back any trust that may have been lost due to a poor experience. Conversely, a bad support team can have the opposite effect, leaving customers feeling like their money could have been better spent elsewhere. Properly training customer service teams to handle the myriad of issues that can occur will help customers maintain a favorable opinion of your company and keep them coming back again and again. To help you do this, a panel of Young Entrepreneur Council members share the best advice a leader can impart to their staff while training on one of the more popular modes of customer support—live chat.
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Members of Young Entrepreneur Council discuss what business leaders should do in the event of a cyberattack. You should always take great care to ensure your company is protecting itself against cybercrime. Mistakes can happen, however, and breaches can always occur. Once your company has been hit with a cyberattack, you’ll need to have an action plan in place to ensure minimal damage to your systems and data. To help, the members of Young Entrepreneur Council discuss the steps they recommend taking after your business has been affected by a cyberattack. Although opinions differ on the very first step you should take, incorporating all of these action items into your plan in some way will get you off to a great start.
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All new hires should be given a fair chance to acclimate to their new position and get used to the way things are done within your company. However, after some time, you may start noticing signs that the onboarding period simply isn't going well for your new employee. So how can you tell if it's just new-hire jitters or if they're not a good fit for the role? To help, 10 members of Young Entrepreneur Council (YEC) weigh in on the following question:
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Dealing with conflict is no easy feat — especially when it’s coming from an upset customer. Whether it’s problems finding information on your website or frustrations with a particular product or service, any issue has the potential to turn into a major conflict if not handled properly from the start. For customer support professionals, keeping the tone of conversations with customers both productive and positive can go a long way in ensuring situations don’t escalate. To help you achieve this, a panel of Young Entrepreneur Council experts each share their best advice for keeping customer support conversations positive and explain why these tips work so well.
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Many aspiring entrepreneurs start their businesses as "side hustles" so they can keep a steady income from their day jobs while still working on what inspires them. Still, they may dream of the day when that side hustle can become their main hustle. To ensure the growth you need to take your business full time, there are a few things you can start doing now, even while only working on it part time. Below, Young Entrepreneur Council experts each share one thing you can do right now to turn your business dream into a reality in the not-too-distant future.
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Companies with a 5-star rating have earned their stellar reputation by delivering a superior product or service and following best practices for customer service. Today's consumers typically do a lot of online research before deciding to engage with a company's product or service. Part of this research may entail reading reviews from other customers to see what kind of star rating the business has received. Companies with a 5-star rating have a clear leg up in this scenario because previous customers trusted their business enough to tell other consumers about their stellar experience. But becoming a 5-star company doesn't just happen overnight -- it takes consistent effort and a commitment to the best customer service practices. Below, a group of successful entrepreneurs shared some key practices these top-rated companies follow and how you can replicate them in your own business.
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As a leader, you likely have a hand in many different sectors of your business, whether it's overseeing employees or directing specific projects. Because of the amount of time you have to devote to so many different activities, you may be losing time jumping from project to project. But there are ways that you can optimize your workflow without risking burnout and still get the same amount of work done—if not more—with time to spare. One of the first steps can be learning how to delegate or automating processes that don't need your direct supervision. Below, eight Young Entrepreneur Council members share these tips and more to give you back a few hours of your time each week.
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A negative mindset can be poisonous in the workplace. It can lower morale, decrease productivity and spread to other members of the team, leading to toxic work culture. As a leader, it's critical to have a positive mindset to effectively work through difficult situations and keep your team on the same page. Below, 12 members of Young Entrepreneur Council discuss how to exude more positivity at work and why these practices are especially crucial for those in leadership positions.
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Local shoppers can become a business's most loyal customers by helping spread the word about the business to other community members. It's important, then, for businesses to establish these local connections early on to see the best results from local marketing. To help businesses create more meaningful interactions with local community members, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Whether you're an experienced entrepreneur or just starting out, investors can be a crucial part of your startup's continued success. While it's possible for investors to take a chance on a business, many investors have certain criteria they'll look for before they take the plunge. Your business’s investor is just as important as your brand's values and mission, so when you find a good potential candidate, you'll want to do all you can to impress them. Below, nine members of Young Entrepreneur Council share some crucial tips to follow when you're trying to gain the interest of a potential investor.
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As more companies shift toward remote work, managers may find some employees struggling with productivity throughout the day. Whether it's tending to personal matters at home, reprioritizing tasks or warding off distractions, some employees may find it more difficult to work from home than in an office environment. Thankfully, there are multiple apps and software programs that can help you get back on track. Below, eight members of Young Entrepreneur Council recommended their favorite apps and software remote workers can use for increased productivity.
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Whether your schedule allows for flexible working hours or you hold a 9-to-5 job, you may find that your energy wanes throughout your workday. Whether it's from decision fatigue, stress or just a natural productivity slump, sometimes you just need a boost of energy to keep you going for the rest of the day. If you're unsure where to look for relief, 10 members of Young Entrepreneur Council have some strategies that may help. Below, they each share one thing that helps them regain productivity when they're in a slump.
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With the internet, social media, streaming services and more at our fingertips, it's easier than ever to start your own side hustle centered on curating your own content. As the demand for content—especially niche content about a specific subject or area of expertise—continues to grow, thought leaders and creators can establish themselves in the online space and even develop a loyal following, leading to potential revenue opportunities through advertising and sponsorship deals. However, for those unfamiliar with the process, it can be difficult to figure out how to monetize your content, especially early on. To help, eight members of Young Entrepreneur Council discuss their top tips for monetizing your content.
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When you invest in ongoing education and professional development for your employees, it shows them that you value their contributions to the company and, in doing so, it may also bolster morale and loyalty. To support this development, many companies will host speakers or workshops, but it's important to ensure your employees are feeling engaged — especially if it's a virtual meeting. To help you do this, 14 members of Young Entrepreneur Council (YEC) answered the following question:
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Members of Young Entrepreneur Council discuss how companies can make the best use of their customer relationship management tools. One factor that separates great companies from good ones is the relationships they build between themselves and their customers. Moving beyond merely transactional interactions, great companies work to get to know their customers on a deeper level and keep track of their communications with them. Cultivating this type of relationship is where customer relationship management (CRM) tools come into play. All the data companies collect to learn more about their customers can be entered into a CRM tool and used in a number of different ways. To help show you and your company how to best make use of your CRM tool, the members of Young Entrepreneur Council discuss their favorite methods of using them below.
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A nightly routine is a perfect opportunity to unwind from the day and focus on your overall wellness. Whether you make a to-do list for the next day, write in a journal about the day's achievements and challenges or take time for screen-free relaxation, following the same practices night after night can help you set yourself up for success the next day. If you're thinking of creating a nightly routine, consider the following recommendations by the members of Young Entrepreneur Council. Below, they explain what they do each night and why they believe it sets them up for a successful next day. Try out their recommendations to see what works best for your evening rituals and habits.
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With technologies, knowledge and events constantly advancing, consumer values and behaviors naturally shift over time as well. In order to keep pace, businesses small and large must evolve alongside their audiences if they want to ensure they don’t become irrelevant in the market. But how can business leaders predict or discern what their customers will do or think next? Below, a panel of Young Entrepreneur Council experts offer their advice on what entrepreneurs can do to keep up with customer behaviors and opinions and ensure their brands are shifting to meet changing needs.
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No matter how good you are at your job, you’ll still have stressful days. However, it’s how you handle the stress that can make a positive or negative impact on your mindset and abilities. For professionals who have their well-being in mind, maintaining daily habits can be beneficial to their success. Below, a panel of Young Entrepreneur Council members share the daily practices they adhere to in order to set their day up for success. They explain why these habits are worth sticking to no matter how busy or stressed you are and how they can motivate you to keep going, even when work gets tough.
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One of the main purposes of a business website is to convert website traffic into revenue. This means creating calls to action (CTAs), building sales funnels and curating interesting, valuable content for those browsing your website. But there are multiple ways to optimize your website for conversions and usher potential consumers to your sales page. To help you do this, nine members of Young Entrepreneur Council provide their top-recommended "tricks of the trade" to boost website conversions below.
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Members of Young Entrepreneur Council discuss the ways businesses can leverage technology to improve their sales strategies. Business today is all about leveraging technology to make even the most ordinary of functions faster and more effective, and sales is no exception. Although sales is still largely a person-to-person operation, taking advantage of certain tools or software can help make the sales experience more efficient and even more personal for the sales team and potential customers than previous methods. Below, a panel of Young Entrepreneur Council members suggests ways in which any business can incorporate more tech into its sales process and why doing so will benefit everyone involved.
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Members of Young Entrepreneur Council explain how to merge your website's copy and design to create a more engaging user experience. Two of the most important elements to consider when building your business’s website are the copy and the user experience (UX) design. Ensuring you write quality text and construct a visually appealing design will give you a great basis for an engaging website. When you combine your focus on these two elements, however, you’ll end up with a truly attention-grabbing business site that will keep your audience coming back. Unsure of how to go about merging your copy with your UX design? Below, a panel of Young Entrepreneur Council members shares 11 tips to get you started.
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Apr 13, 2022
No matter what industry you're in, if you’re trying to hire in the current job market, chances are that you're up against some fierce competition. With so many companies to compete with, it's vital to find a way to stand out so that the best talent will want to join your team — and your job posting is the best place to start. To that end, a panel of Young Entrepreneur Council (YEC) members were asked to answer the following question:
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For some, the meaning of the adage “the customer is always right” has evolved from “businesses should listen to consumers because they drive the market” to “businesses should always focus on giving customers exactly what they want—no matter the ask or the cost.” However, sometimes the customer isn’t actually right, and giving in to their demands isn’t the wise move. When a customer is angry or frustrated, it’s important for a business to listen to and empathize with their concerns. But if that customer is ultimately wrong, you shouldn’t make unreasonable sacrifices or do something that’s not really in their best interests just to get back into their good graces. Here, 10 Young Entrepreneur Council members share their thoughts on how to strike a balance between ensuring a customer feels well-treated and doing what’s right for your business.
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Apr 13, 2022
Overcoming a creative block can seem impossible at times, but with the right strategies, you can unlock more of your potential. When you’re a creative person, it’s normal to experience blocks where you feel as though you aren’t original or innovative enough. Many people experience this same lack of confidence when they don’t believe in their skills; however, knowing how to move past these blocks is critical. For entrepreneurs in particular, a creative block can be a major barrier that hinders their ability to produce results. Below, a group of successful business leaders share their best advice for unlocking true creativity. They share examples that have worked for them and explain how they can help any business owner get past their blocks to unleash their creative side.
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Members of Young Entrepreneur Council offer their best advice for moving your physical retail store online. As the popularity (and necessity) of online shopping continues to rise, many business owners are choosing to transition their brick-and-mortar stores to an e-commerce model. However, running a business online can differ dramatically from running a physical store, and it may require new approaches to and new mindsets about selling and advertising goods. To help make the transition easier, a panel of Young Entrepreneur Council experts share their best advice for moving into the e-commerce space. Follow their tips to get your online business up and running the right way — the first time.
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Many entrepreneurs find it particularly difficult to recover from financial mistakes. Small businesses especially often run on very tight margins, meaning that one slip-up can be detrimental to a young company. Here, eight Young Entrepreneur Council members share some steps an entrepreneur should take in the event of a financial mistake. Here’s why they believe these actions can help an entrepreneur to recover and learn from their errors to ultimately grow their business.
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A large part of the personal branding process relies on speaking with others, presenting new ideas to digital and in-person audiences, and establishing connections. To a self-described introvert, these tasks can seem like big hurdles on the way to success. But there are ways for introverts to get their names out there and create strong relationships within their network. Whether it's becoming more active on LinkedIn or publishing articles on sites within your discipline, introverts have many opportunities to be involved in the business community while still leaving space to recharge with solo activities. Below, 13 Young Entrepreneur Council members shared their keys to personal branding success as an introverted leader.
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Businesses need systems and processes to maintain quality and efficiency in their operations. Systemization helps to communicate to your team how you'd like your business to be effectively run and provides a clear model for them to follow. However, busy entrepreneurs don't always take the time (or have the time) to put those systems in place. Streamlining common business functions like bookkeeping, marketing and employee onboarding can be extremely beneficial for your business. Below, nine members of Young Entrepreneur Council explain which tasks they believe should be systemized and why.
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Mar 29, 2022
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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For many professionals, having the option to work from home has brought significant benefits, like cutting commuting costs or working in a more comfortable setting. However, it can be even easier to lose time at work when sharing that space with responsibilities in the home, whether it’s the laundry sitting in the corner of the room, the kids’ homework or the dog needing to go outside. No matter if you’re improving your own time management or your whole team’s, it's important to make sure that your working hours are spent productively, and there are many apps and software solutions for that. Below, 10 Young Entrepreneur Council members share their top recommendations for apps that help boost your productivity and your company's overall efficiency.
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Mar 25, 2022
Getting your business noticed online is only getting more challenging, as every day new businesses are opening up and creating more competition for consumer attention. The go-to strategy for many companies, therefore, is to leverage social media to get in front of their target audience and convince them to make a purchase. But the perfect social media ad won’t come about without a little forethought and planning. If you really want to persuade potential customers, consider the following tips as recommended by the members of Young Entrepreneur Council. Implementing these steps could give you a significant leg up on the competition.
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Members of Young Entrepreneur Council list criteria you should look at when determining the right web host for your business. Having a well-designed, easy-to-use website is vital to ensuring your customers have a good experience with your company. Having a good service to host that website is equally important, though. With the right web hosting service, your site can offer fast loading speeds, reliable and safe connections and many more benefits that will only add to the overall user experience — and your bottom line. When selecting a web hosting service, however, you’ll need to be mindful of the various features and options. Below, the members of Young Entrepreneur Council list the top 11 criteria they believe entrepreneurs should consider when researching the best web hosts for their businesses.
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Equality in work and business is something that women have been striving toward for many years. While great strides have been made in recent years, women still have to work hard in most situations to find themselves on equal footing with their male counterparts. As such, it's crucial for female entrepreneurs to know their worth and to feel empowered as leaders and role models in business. Here, eight leading women from Young Entrepreneur Council share the books that have made them feel empowered as female entrepreneurs and why.
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Members of Young Entrepreneur Council share the rules they think all entrepreneurs new to SEO should know. Whether you’re building your own website from scratch or are just getting a little more hands-on with its creation, entrepreneurs new to search engine optimization must figure out how to rank first (or at least high up) in search results. This project can seem like a daunting task. Luckily, though, a few key rules will help you to get started. Below, the members of Young Entrepreneur Council list the most important rules for those new to SEO and explain why they’re so vital for generating traffic.
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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 business leaders may make the mistake of assuming that a well-designed desktop website will translate into a well-designed mobile website—and will quickly learn that’s not the case. With a different screen size, different applications and varying user behaviors, mobile requires separate consideration when it comes to design and function. But you don’t necessarily have to start from scratch if you want to make sure your existing website is mobile-friendly. For easy changes any business can make, consider the following tips from the members of Young Entrepreneur Council. Making even just one of these changes could have a positive impact on the way your users engage with your business.
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Members of Young Entrepreneur Council discuss why you might not be seeing a good ROI on your business's mobile app. With the number of shoppers who choose to make their purchases on mobile platforms steadily rising every year, businesses these days would be remiss not to consider building a mobile app to serve their customer bases. Although building such an app aims to increase sales, many businesses might actually find themselves losing money post-launch. Many factors can affect this sales dip, but the members of Young Entrepreneur Council have narrowed down their top 11 reasons why you might not be seeing the ROI you’d hoped for after building your mobile app. Below, they explain what you can do to turn the situation around for the better.
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For many people faced with an unpleasant assignment, procrastination provides a welcome escape. While putting off the work might be comforting in the short term, however, it inevitably results in more stress and frustration down the line. As an entrepreneur, you’ll likely come across many tasks you’d rather not do, especially if you’re feeling overwhelmed, burned out or are just having a busy day. Below, a panel of Young Entrepreneur Council members discuss the challenges of facing particularly daunting assignments and share their tips for tackling even the most dreaded tasks.
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Every business project is unique and will likely require a customized approach to manage it. No matter the size or scope of the project, though, all team members must work together to ensure each moving part is in place. Being on the same page is crucial to the overall success of a project, and it's up to the leader or project manager to keep their team moving forward toward their shared goal. To help you do this, nine members of Young Entrepreneur Council explained the most important elements that you’ll need for the successful completion of your project.
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There's a story behind the start of every business, and many entrepreneurs write books to share their own. Whether it's a motivating story of overcoming challenges, an inspiring story of passion or a story full of practical lessons and advice, an entrepreneur's first book can be used to help them grow their business. To share insights on how to do that, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Many employees set out with dreams of climbing the company ladder and someday becoming part of the executive leadership team. But the journey to the C-suite is filled with obstacles that young professionals might not expect when they first start out. Below, nine Young Entrepreneur Council members shared their advice for aspiring business leaders looking to land that executive promotion. Follow their recommendations to give yourself the best chance at upward career movement.
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When it comes to creating a successful marketing strategy, you don’t always need to reinvent the wheel. Sometimes a few small changes can have a huge impact on your ROI. To that end, a panel of Young Entrepreneur Council members shared their top eight tips to help business leaders quickly level up their marketing strategy. Below, they discuss what makes these simple strategies so effective.
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Members of Young Entrepreneur Council offer steps to take if you want to keep your home-based business safe from cyberattacks. When you’re launching a new business, cybersecurity and data protection likely aren’t top of mind for you. But doing business comes with a lot of sensitive information that you don’t want getting in the wrong hands, and the nature of being online means safeguarding that data should be approached from several angles — especially if you run your business from home. Whether you’re a solopreneur operating from your home office or a remote-first startup, there are a few steps you need to consider to ensure your business’s safety online. Below, a panel of Young Entrepreneur Council experts weigh in on those steps and how they can help prevent cybercrime.
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As a business owner, you want your customers to be satisfied with your service or product. When they aren't, and decide to leave a negative review, it's easy to take that personally—but it's also a potential learning opportunity. It's important to respond to bad reviews in a respectful manner and to learn from what your customers are trying to communicate. Sometimes, you may learn that you just can't please everyone with your business or that you might need to let go of some customers. Below, eight Young Entrepreneur Council members shared some of the lessons they've learned from negative reviews and how those experiences helped them become better leaders.
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Many leaders grow and advance in their careers with the help of a mentor. Because of this, it’s natural to want to "pay it forward" by helping up-and-coming industry professionals find their way. Even if your company doesn't have a formal mentorship program in place, there are ways leaders can still act as mentors for their employees. Something as simple as having an open-door policy so employees can ask questions could help encourage an open environment and support growth. To discuss this and other methods of mentorship, nine Young Entrepreneur Council members recommended some key actions business leaders can take to act as mentors to their team members.
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The most successful brands usually maintain a high level of customer engagement. When customers are engaged with a brand, they're more likely to continue to buy from that brand and recommend that others do too. With the increasing use of social media among businesses, companies now have the ability to engage with customers with the click of a button. However, they need to know how to do this in the most effective way. From being incredibly transparent to using conversational marketing, here are nine effective strategies for keeping brand engagement high, as recommended by Young Entrepreneur Council members.
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When you own a business, it’s vital to ensure that your email marketing strategy is on point and brings you closer to achieving your marketing goals.
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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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Every business has employees who aren't on the same page from time to time. Whether it's clashing personalities or differences of opinion, conflicts can arise at any point, and it's up to the manager to help mediate them. If left unchecked, these conflicts could cause serious division between colleagues and lead to a toxic work environment. To help you find the best way to handle them, nine members of Young Entrepreneur Council explained what not to do when mediating employee conflict and offered better approaches to take instead.
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More and more businesses have made the shift to cloud computing in recent years, and it's not hard to see why. There are countless ways the cloud can benefit a company, from cost savings and sustainability to greater work location flexibility. As cloud computing evolves, it can offer even more benefits that you may not have even realized before. To that end, eight members of Young Entrepreneur Council shared some unique ways for businesses to take advantage of cloud computing and improve their operations.
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During the Covid-19 pandemic, many businesses have permanently migrated to a remote working environment. While these working arrangements have their benefits, one aspect that may be neglected is company culture, leading to low productivity and camaraderie throughout your team. During the winter months, when workers may deal with seasonal depression or post-holiday blues, it's important to keep spirits high. To help you do this, eight members of Young Entrepreneur Council shared some ways for leaders to liven up the energy of their remote teams all winter long.
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No matter your current role, when work gets to be too stressful or monotonous you may begin to daydream about moving on to bigger and better things—things that you're in charge of. The thought of starting a new chapter of your life where you call all the shots can be thrilling, but the reality of making such a move isn't always what you dreamed of. Before you make the life-changing decision to trade your position in an organization for entrepreneurship, take the time to consider what that really means. Below, 10 professionals from Young Entrepreneur Council discuss the most important things a person should consider before quitting their job to become an entrepreneur.
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When you first start a job or career path, it can be easy to assume you already know everything you need to know in order to succeed in the position. While you might be able to get by with your day-to-day duties, if you want to “climb the ladder” or advance your career in some way, it’s important that you develop a “learning mindset” and figure out ways you can educate yourself, learn new skills and make yourself more marketable for whatever future position you may want to move into. But how do you get started, especially when you’re not used to taking initiative? Below, the members of Young Entrepreneur Council offer a few strategies for developing a habit and a passion for learning that can help take your career to new heights.
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One income stream isn't enough for many people to make a comfortable living these days. Luckily, there are a myriad of ways for a working professional to make money on the side — so many, in fact, that it can be difficult to settle on just one. If you need to start a second stream of income but are having trouble determining how you want to do it, answering a few crucial questions can help set you on the right track. Here, 10 members of YEC share some of the most important questions you can ask yourself to figure out the best side hustle for you.
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When the Covid-19 pandemic struck in 2020, it put many professionals out of work. Others faced cutbacks on hours or began working remotely, which allowed more time for pursuing multiple income streams. These factors led to a major uptick in startup and small business launches, many of which are still thriving as we enter 2022. With this fact in mind, a panel of 11 Young Entrepreneur Council (YEC) experts answered the following question:
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Every professional should master the art of persuasion. Whether you're negotiating for a raise, pitching to an investor, giving a presentation, or trying to win a new client, having influence can help reach your goal. Below, eight members of Young Entrepreneur Council share top tips to appeal to others — and why those tactics work so well.
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Members of Young Entrepreneur Council discuss the steps you should take when seeking an investor for your business. When bringing on an investor to your business, you’re doing more than securing financial assistance — in many ways, you’re bringing on a business partner. To protect their investment and ensure they make a quick return, investors will likely want to have a hand in the business and how it runs. In the same way you wouldn’t bring on a co-founder without first making sure they were the right person for the job, you’ll want to vet potential investors prior to any sort of agreement. In order to vet them properly, a panel of Young Entrepreneur Council members recommend taking these 10 steps before sealing the deal.
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Even when candidates for a role have all the knowledge and experience necessary to excel in a position, they may not end up being the best fit for the job. For this reason, many employers choose to put new hires on a trial period before they decide whether or not to keep them on full time. When conducting a trial period for a new hire, there are several things you can evaluate candidates on to ensure they’re the right fit. Below, eight members of Young Entrepreneur Council discuss the criteria they recommend using to evaluate new hires during a trial period and how these play a role in whether or not they would decide to keep them on as full-time employees.
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Strong, clear communication is a must when it comes to manager-employee relationships, but certain behaviors can work against you. Strong communication skills can help anyone thrive in a business environment, but when it comes to managing employees, they are absolutely essential. An effective communication strategy can help leaders optimize the flow of information within their organization and keep teams on track. Below, 12 Young Entrepreneur Council members shared some of the biggest communication mistakes managers make. Follow their advice for avoiding these common errors and setting up stronger lines of communication with your team.
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As a new entrepreneur, getting your product out into the market is hard enough, but when there is a lot of competition in your market, it can make things even tougher. When trying to differentiate their products in a situation like this, entrepreneurs are bound to make mistakes along the way. Many members of Young Entrepreneur Council have gone through this themselves and have learned some valuable lessons from the experience. Below, eight of them explained the most common mistakes entrepreneurs tend to make when trying to differentiate their products in an oversaturated market and offered advice for how to remedy this situation.
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Members of Young Entrepreneur Council suggest ways leaders can thank their teams for all their hard work. Workplace happiness is a major topic of discussion in today’s employment landscape. Employees now more than ever are discovering that their happiness is a priority when it comes to where and when they work, and many are no longer willing to compromise in favor of anything else. In order to keep current (and future) employees happy, then, employers will need to approach retention differently than they may have in the past. Luckily, the strategy behind this effort doesn’t need to be complicated, as there’s no better way to ensure your team is happy and fulfilled than by showing your gratitude for all the hard work they do. Consider the following steps recommended by Young Entrepreneur Council leaders to help get you started.
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Are there specific traits of great managers, personal qualities that are crucial to success in any managerial role? It seems that there are, and while some of these traits are innate, others can be learned. In this article, 13 professionals from Young Entrepreneur Council list a few of the most vital traits you should possess if you want to thrive in a managerial position.
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A business website is an important and essential way to establish your company’s digital presence, share your message and display your brand. However, designing a website from scratch requires a lot of planning and consideration. As successful business leaders, many members of Young Entrepreneur Council have experience creating effective business websites from the bottom up. Below, 10 of them shared what they believe should be the first considerations you should make when designing a new website for your business.
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Determining the right price for a product or service is one of the most important elements in a business's formula for success. If the price is too low, you'll be losing out on well-deserved profits, but if the price is too high, you'll be losing out on potential customers and clients. There are several factors to take into consideration when setting a fair price for a product or service. To share insights into what these factors are and why they're important, nine professionals from Young Entrepreneur Council (YEC) answered the following question:
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Even if you're not feeling on top of your game, you can still use these "fake it 'til you make it" tips. When candidates are interviewing for a job, confidence is key. Employers want to see that you know your stuff and that your skills and qualifications are up to par. However, it can be hard to have confidence while under pressure. Fortunately, there are some strategies and tips that can help you present a confident, collected demeanor, regardless of how you feel inside. Below, 11 members of Young Entrepreneur Council share how these methods work to help candidates perform better during interviews.
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When an entrepreneur is first starting out, they go through a lot of trial and error. In an effort to grow and scale their business, they often try out various ideas to see what works and what doesn’t. However, scaling a business isn’t easy, and without prior experience, mistakes can be made. While not every venture will be a success, there are ways to effectively scale your business while minimizing risk. To that end, a panel of Young Entrepreneur Council members shared the tips they wish they had known when they first started out to safely and smartly scale a business.
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Over the past year, there have been many changes in the world of marketing. As technology continues to advance and businesses find new ways to be creative with the way they promote their products and services, other companies are faced with the choice to keep up or fall behind. Throughout 2021, entrepreneurs have learned some important lessons about how to market themselves. Below, eight members of Young Entrepreneur Council each share the best marketing lesson they learned last year and discuss how this lesson will impact their approach to marketing moving forward.
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Modern entrepreneurs know the importance of using social media to grow their business. It can be a great way for business owners to connect with customers and expand their company’s reach. As social media’s relevance has grown, so have the benefits of using popular platforms like Instagram to reach your target audience. To help you make the most of your business Instagram account, members of Young Entrepreneur Council offer their best advice for engaging and retaining followers. Follow their recommendations to take your Instagram game to the next level.
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In the variety of options for financing a startup, many entrepreneurs entertain the idea of inviting investors into their businesses. Working with an investor can help you grow your business quickly while also leveraging their expertise. However, despite the benefits of an investor, there are also many reasons not to partner with one. On the fence about this important financial decision? A panel of Young Entrepreneur Council members share some reasons why aspiring entrepreneurs may wish to opt against investors for their business.
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As many professionals continue to leave their jobs in favor of new ones, employee turnover has been steadily rising, meaning many HR professionals have been working harder than normal. Whether that means fielding more applications, serving as a mediator when letting go of an employee or listening to burned out employees vent about their working conditions, HR teams often take the brunt of the emotional work at many establishments. This may mean that HR employees need more support from leaders and upper management during periods of high turnover. From offering additional time off to providing educational development tools, seven Young Entrepreneur Council members shared the best ways business leaders can support their HR departments in their endeavors.
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Dec 21, 2021
As a professional, there are dozens of goals you may have, such as getting a raise, snagging a promotion or simply wanting to be recognized for your hard work. Annual performance reviews are an excellent time to discuss your goals with your manager to make sure you are heading in the right direction with your company. No matter your position, there are some steps you can take months ahead of your annual review to set you up for success sooner. Below, eight members of Young Entrepreneur Council each shared one thing any employee can do starting in January to get ready for their annual review at the end of the year.
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During the holidays, business owners are pulled in all different directions. Both customers’ and employees’ needs change during this time, and leaders are often left to figure out how to balance them out. With the increased demand and added chaos from the holiday shopping season, this can be a tough task; however, there are steps business leaders can take to ensure they’re keeping everyone happy. Below, nine Young Entrepreneur Council members share some tips for business owners looking to meet the needs of their teams and their customers throughout the season and into the new year.
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In the war for tech talent, a well-crafted, well-placed job listing can make all the difference. There's a certain art to listing a job, from posting to the right websites to using the right language that will attract the right candidate. This can be especially difficult when trying to find the best tech talent. Depending on the exact wording of the job listing, your company could potentially receive tons of applications from candidates who aren't right for the job. On the other hand, many talented potential applicants may pass by your job listing if it doesn't appeal to their unique skill set and career goals. To help, a panel of Young Entrepreneur Council members offered their best advice for optimizing your tech job listings.
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An effective, collaborative team is the backbone of any successful organization. But when you're in the midst of hiring a lot of new players, it can be difficult to bring them all together and ensure they’re connecting as a true team. Figuring out a way to help them feel comfortable with each other and with the existing team, therefore, should be a top priority for any leader. To help, eight members of Young Entrepreneur Council outlined the actions they recommend business leaders take to make their teams more in tune. These tips can help leaders bring every member of staff together and truly connect them as a cohesive team.
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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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There is no shortage of advice blogs, books and podcasts about entrepreneurship these days. Sifting through all of this advice can take up valuable time and, unfortunately, not all of it will actually help you succeed. That's why it's helpful to learn targeted tips from entrepreneurs who understand what it takes to launch and grow a successful startup. To share the good and warn against the bad, 10 members of Young Entrepreneur Council gave their advice for first-time entrepreneurs. Follow their tips when you need guidance to get you through the early days of your business endeavors.
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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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Members of Young Entrepreneur Council offer ways professionals can leverage social media when job hunting. Social media plays a big part in all our lives, including our work. Many employers have been known to research potential hires online before committing to a hiring decision, and so what candidates post to their social media profiles can either have a positive or negative impact on their prospects. But candidates can also take control of their job search by using social media to their advantage. To explain, a panel of Young Entrepreneur Council members discuss 12 ways professionals can leverage social media to find the right job for them.
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While it may not always feel like it in the moment, business challenges are great opportunities for growth. When we’re thrown outside of our comfort zones, we build confidence and see our strengths. This is especially true for business leaders and entrepreneurs, who face a constant stream of challenges that can often be turned into positive opportunities. Below, eight members of Young Entrepreneur Council shared experiences where they used a challenge as a learning opportunity. They describe how it affected them and how they used the lesson to improve their business.
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Anyone can create a website, and every business needs one. However, creating a website that actually turns a profit can be a challenge. From design and ease of use to your marketing message, there are many elements to consider and organize in order to make your website profitable. Below, 12 members of YEC weigh in with their best pieces of advice to help business leaders create more profitable websites.
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Building a positive company culture is crucial, especially with so many businesses shifting to a permanent remote work model. Employees want to work in an environment where they feel accepted and appreciated. When they feel this way, employees are more likely to be motivated and work efficiently. To help you build a great culture regardless of where your employees are, there are a few important factors your business needs to get right. Below, eight members of Young Entrepreneur Council shared the essential elements you’ll find in company cultures that get people excited to come to work.
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Every business needs to market its products and services, but there's a lot of competition out there. When you're creating a content marketing campaign for your brand, the last thing you want to do is use precious time and resources to create content that doesn't measure up to your direct competitors'. In order to differentiate your content from theirs — and gain more consumer attention — you’ll need to take certain purposeful measures. Below, 15 professionals from YEC share their best tips for creating unique content that stands out against the competition.
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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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Launching a new product on social media can be a great way to go to market, but that’s only if you design an effective social media campaign. From creating content to scheduling, building awareness of your new product on social media requires a lot of careful planning and consideration. To help get you started, 14 members of Young Entrepreneur Council offer their best tips for successfully launching a new product on social media.
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With so many work stressors, it can often feel difficult to feel grateful for your professional life. Long days and difficult co-workers can be hard to handle, and these factors may sometimes overshadow your job’s positive benefits in your mind. However, intentionally looking for the good can help you feel more gratitude for the opportunity you’ve been given and improve your overall mental state. Below, 14 Young Entrepreneur Council members offered some ways to practice thankfulness in your everyday professional life and explained why it’s so important to do this.
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Members of Young Entrepreneur Council share the top tools that will help any company improve their remote work process. Whether it was communicating important information or collaborating on multiple projects at once, many companies faced new challenges as they made the switch to a remote or hybrid work environment. Luckily, there exist a multitude of tools and tech solutions that can help struggling companies improve the way they work remotely. Below, the members of Young Entrepreneur Council suggest 12 of the solutions they use for their own companies and explain why they recommend you implement them to make your remote work processes a little more efficient.
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Businesses may need to participate in fundraising efforts to secure additional capital, fund research efforts or expand their market reach. Before they can begin, however, leaders must determine their company's valuation. A valuation of a company is determined through various calculations that take into account factors such as market value and annual revenue. This step is crucial as it may determine whether or not investors choose to invest in your business. If you're about to begin the fundraising process for your startup, consider these eight factors that can influence your valuation, as shared by the members of Young Entrepreneur Council.
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Members of Young Entrepreneur Council recommend using these e-commerce tricks for lowering shopping cart abandonment rates. Losing money is never at the top of any business owner’s to-do list, but when eager shoppers suddenly back out of the checkout process and abandon their online shopping carts, that’s exactly what happens. Implementing strategies to reduce this rate of cart abandonment, therefore, should be a top priority for every e-commerce entrepreneur. To help get you started, a panel of Young Entrepreneur Council members shared their top “hacks” for lowering online shopping cart abandonment rates and why implementing these tricks is so effective.
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Nov 24, 2021
Leaving a toxic workplace situation can leave a lasting impression on an employee. Even if you investigate and a company seems to have a good workplace environment, it can be hard to fully ensure that you are stepping into a company that will treat you better. Employee reviews and browsing a company’s website can only get you so far in learning the culture of the workplace. That’s why the members of Young Entrepreneur Council have come up with some key questions you can ask yourself to ensure your new company is the right fit. By asking yourself these questions, you may be able to uncover some warning signs of a toxic workplace.
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In the chaos and busyness of the holiday rush, it can be easy to spend so much time focusing on your customers and how you can best meet their needs that you lose track of how your employees are handling the stress. The holidays are one of the most stressful times of year for many companies, and taking time to check in on the mental health and well-being of your employees can ensure you have a thriving workforce to help your business succeed. Below, seven members of Young Entrepreneur Council discuss some of the steps you can take to ensure your employees are happy and healthy this holiday season.
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Working on a team can be challenging for those accustomed to working alone. Teams bring different opinions, ideas and ways of working, which can be incredibly helpful for collaborative projects. However, this environment can sometimes be difficult for those used to independent thinking and solo projects. If you're a professional who prefers to work on your own, it helps to have a strategy for approaching and thriving in team-based work environments. To get you started, eight Young Entrepreneur Council members shared their best tips for how you can improve your teamwork skills at work.
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When your business starts to grow, it's an exciting indicator of success. However, it can also be an indicator that organizational changes need to take place. If your business has outgrown its current location, it's time to start considering moving into a new office space. There's a lot to think about before making such a significant change, though. To help, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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When you're attempting to solve an issue you've never faced before, it helps to have a strategy for approaching it. Problems arise in business every day. Some you may have solved before, but others may be new to you and your team. When a new issue crops up, it’s best to solve it quickly so it doesn't fester and cause additional problems. However, it can sometimes be difficult to know where to start. Below, a group of successful entrepreneurs shared their best advice for approaching tough situations in business. Follow their tips to give you the courage, inspiration and motivation to face the "unknown."
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When meeting with a potential investor, it’s important that entrepreneurs come prepared for any questions that may arise. You’ll likely spend hours preparing your answers, but even then, tough questions may be posed that, without good answers, could damage your confidence. Therefore, to help you avoid being surprised during a pitch, 10 Young Entrepreneur Council members each shared the toughest question they’ve ever been asked during an investor meeting and how they recommend you prepare for it.
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Working hard and being a creative problem-solver can go a long way. Whether managing a team or an entire business, anyone in a management position has a lot on their plates. This means that while you may be itching for a promotion, your position may not be at the forefront of your manager's mind. It's up to you to put it there. But how can you get your manager's attention and prove to them that it's time for you to move up as a leader? Here, 11 members of Young Entrepreneur Council weigh in and offer their perspectives as managers who have had to give those promotions and employees who have successfully leveled up in the past.
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As the holidays quickly approach, it's almost time for you and your team to set your “out of office” auto-replies and get some well-deserved rest and relaxation. However, this is easier said than done when many professionals continually feel the need to be productive. This feeling of not doing enough and needing to be “always on” can lead to guilt about taking time off and will keep you from enjoying a much-needed break. To help your company avoid this issue, eight Young Entrepreneur Council members shared some tips to help you and your team truly unplug and enjoy the holidays.
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Members of Young Entrepreneur Council list the factors companies will want to consider if they want to improve their website UX. While your business’s first attempt at creating a website may have focused on necessary product information, your logo and color scheme and basic functionality, it may not have truly considered how your visitors use the site and, therefore, may not have produced the positive results you were hoping for. To get the most out of your website, it’s vital that you take a look at the full user experience first. To help guide you, the members of Young Entrepreneur Council offer 14 factors all companies should consider when redesigning their websites and why these particular factors can have such an impact on the way your users experience your business.
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When your team is feeling uninspired, try these activities and initiatives designed to boost morale. High morale can ensure your team stays motivated and engaged through the "daily grind." From hosting virtual happy hours to organizing an escape room outing, the effects of team-building activities can strengthen the bonds between teammates and create unexpected benefits within the workplace. This more collaborative work culture can lead to a more diverse set of solutions leaders might not have anticipated. Below, 14 members of Young Entrepreneur Council shared their top-recommended team activities for keeping everyone motivated. Follow their suggestions to take a more proactive approach to company-wide team building, even when people feel stuck in a day-to-day rut.
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One of the biggest challenges for new entrepreneurs across the board is learning how to manage their finances. This is especially true of cash flow management. If you're not used to handling a business budget or invoicing, it's easy to lose track of how much money is coming in versus going out of the business. Because cash flow is such an essential indicator of a company's overall financial health, it's important to learn how to master best practices and avoid critical pitfalls. Below, nine members of Young Entrepreneur Council shared some common mistakes they've seen entrepreneurs make with their cash flow and how to avoid them as a new business owner.
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Nov 12, 2021
Due to their dispersed nature, remote companies are tasked with finding innovative ways to remain transparent and keep communication flowing throughout the business. When teammates and whole departments aren’t able to interact together in person, the way they communicate must adapt. But when communication breaks down, information silos can develop, leading to confusion and low morale. In this way, it's especially important for all-remote companies to keep team members connected and informed as much as possible. Below, eight members of Young Entrepreneur Council share the essential steps that all-remote companies can take to keep information silos from forming and instead keep communication flowing between departments and across the company.
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At one point or another, most professionals face a crossroads in their career. Whether they simply want to change jobs, pursue a different career path or still don't know what their true calling in life is, there are a lot of questions a person can ask themselves before choosing a direction. While there's something to be said for trusting your gut, it's wise to consider your options carefully and ask the right questions of yourself when trying to determine where to take your career next. To guide you, a panel of Young Entrepreneur Council members offered 10 key questions that can help you illuminate the correct "next step."
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Competition between businesses gets fierce during the holiday season. This means your marketing game needs to be on point if you want to steal the spotlight from your competitors and attract more customers during this busy time of year — especially if you're a small- and medium-sized business operating on a limited budget. To help get you started, 12 professionals from Young Entrepreneur Council (YEC) answered the following question:
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For most entrepreneurs, the early days of their business entail doing most of the day-to-day work themselves. However, as your business grows, so will your need to hire and effectively manage others. Expanding your team requires you to hone your leadership skills, as well as a strategic vision to keep your team on track. To help, 10 members of Young Entrepreneur Council shared some essential leadership skills every entrepreneur should nurture. Follow their recommendations to improve your management abilities and foster a strong business culture.
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The digital marketing industry has seen an influx of growth over the past few years. More businesses than ever are adapting to the digital arena brought on by the global pandemic. This change of pace has spurred new digital marketing trends that have replaced previous outdated strategies. Below, 10 members of Young Entrepreneur Council explained which recent digital marketing trends they're most excited about and why. Here's what they believe the future of marketing will look like, and how these trends have already impacted their own efforts.
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Members of Young Entrepreneur Council recommend taking these steps before using content made by your audience. One of the easiest ways for any business to produce content is to make smart use of the content their audience members have already made. This user-generated content (UGC) not only is a great way to get your audience engaged with your brand, but it’s also an effective strategy to find free content for your business’s social channels. According to a panel of Young Entrepreneur Council members, however, there are a few things you’ll want to be sure you do before you use any UGC. Below, they’ve listed 13 of the steps you’ll want to take and explain why taking them is so important.
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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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No matter how well-aligned two business partners may be, there will inevitably be times when they don't see eye to eye. However, when larger issues arise and the partners are no longer on the same page, it's critical for both parties to get back on track to resolve their conflict. Otherwise, they risk making decisions (or making no decisions at all) that could ultimately harm the business and its culture. If you and your business partner can't seem to agree on an important issue, first remember that you're working toward the same goal: the good of the company. Then, try these 15 strategies recommended by Young Entrepreneur Council members for realigning with your partner and resolving conflict.
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Clear communication and empathy go a long way. Of all the positive traits a leader can possess, the ability to be fair and equitable in the most challenging of circumstances is a crucial one. A leader who is able to ensure that everyone on their team is being treated fairly is someone who has the ability to see things from an objective perspective and to solve problems creatively. Employees are also more likely to respect a leader who makes a conscious effort to treat everyone fairly and holds themselves accountable to the same standards as well. Below, nine members of Young Entrepreneur Council share the most important questions they ask themselves when they want to be sure that they're leading their teams in a fair and equitable way.
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In business, conflict is bound to be a daily occurrence. While no leader desires conflict, as entrepreneurs they often experience it on a day-to-day basis. Differing opinions, struggles with working relationships and team management issues can all lay the foundation for potential conflict, and not all leaders are equipped to handle it. In order to get more comfortable with conflict then, leaders must be proactive and develop a plan to overcome their fears. To help, the members of Young Entrepreneur Council shared 14 ways leaders can get more comfortable with conflict and be more successful as a result.
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Accurately gauging the fit of a job candidate can be difficult, and sometimes new hires who seemed great during the interview process don't pan out as expected. In situations like this, a leader must take action to course-correct and figure out the problem before the whole team suffers. To help you identify some red flags to look for early in a new employee's tenure, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Confidence is an important feeling to have if you want to succeed at work, in relationships and in everyday life. It's also a trait that seems much easier to possess than it actually is—Sometimes it takes a step outside your head and comfort zone to achieve it. Whether you're a fairly confident person looking to step into the best version of yourself or someone who has very low self-confidence, there are little ways you can work on building it up every day. Below, 13 members of Young Entrepreneur Council share their best tips for how to increase your confidence in the workplace.
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Employees, especially when new to their positions, often need guidance to be successful in their work. However, too much direction can be less like helpful and constructive feedback and more like micromanagement. This, in turn, can have a negative impact on an employee's work performance and mental health, and they may begin to feel less confident in the work they produce. Below, eight members of Young Entrepreneur Council offered advice on what to do as an employee if you feel like you’re being micromanaged at work.
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Anyone who’s hired an employee knows that a resume is not the only indicator of whether or not a job candidate will be a good fit. However, there are some key elements to look for in a resume that usually signal that a candidate may be the right person to join your team. To help you identify those elements, a panel of Young Entrepreneur Council members weighed in with what to zero in on when reviewing resumes to determine if a job candidate will be a good fit for the position.
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Everyone has certain biases, but making an objective business decision requires you to recognize and set aside those perceptions. Human beings are biased by nature. Each of us forms opinions about the world based on the experiences we've had and the backgrounds we come from. While bias itself is not inherently bad, it's important for entrepreneurs to understand their own unconscious biases and work to eliminate them from their business decisions to ensure the fairest outcomes for all involved. Below, a group of successful entrepreneurs shared their best tips for recognizing your own biases and removing them from your decision-making process. Follow their advice to achieve greater objectivity within your company.
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In business, making an active effort to support the entrepreneurial community can be game-changing for your company’s growth. After all, these individuals have been through similar experiences and challenges as business owners themselves, and can often help you navigate them. However, to gain the support of your fellow entrepreneurs, you have to be willing to give back to them. If you’re not sure where to begin, eight Young Entrepreneur Council members explained some simple methods for supporting other business owners and why it's important for all entrepreneurs to do so.
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As the leader of a growing business, you might be tempted to set your goals high and hold your employees to meeting them. You and your team likely have a ton of great ideas and are eager to pursue each of them, but aiming too high can actually be detrimental to your business's growth and success. Rather than setting unattainable standards for yourself and your employees, take your time when developing your business and each worker's path to ensure sustainable, measured growth. Below, eight members of Young Entrepreneur Council shared ways to set realistic business goals that will still stretch limitations and build your team’s skills.
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In an era when cybercrime and data breaches are more prevalent than ever, businesses can't afford to ignore data security. From phishing and ransomware attacks to careless password practices, there are countless ways for thieves to penetrate your company's digital walls and access sensitive information. That's why all businesses should implement any strategies they can to improve the security of their company data. Below, a panel of Young Entrepreneur Council members offered some quick and easy solutions that will help you shore up your defenses. Follow their tips to make your business more secure.
