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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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.
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Oct 18, 2021
The secret to a successful and efficient company culture is transparent communication. This is especially true when you need to announce big news to your team in a way that will make them feel confident about the company's direction and decisions. To help you do this, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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As a new business owner, it's wise to work with someone who has been in your shoes and possesses the experience to help you navigate any uncertainty you might face. Launching and running a successful business requires time, energy and seasoned insight. However, many budding entrepreneurs tend to shy away from spending money on a consultant. If you're unsure whether it's worth investing in a business consultant, there are some clear indicators that might suggest you could benefit from one. Below, a panel of Young Entrepreneur Council members shared 10 signs you should hire a consultant for your business.
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Members of Young Entrepreneur Council share the innovative apps and software that help them better manage their work. When it comes to getting work done, a myriad of tools are out there, all designed to save you time and effort. But with so many options on the market to choose from, with many having the same features and benefits, you may feel overwhelmed when trying to select the right one for you and your team. To help narrow down your choices, a panel of Young Entrepreneur Council members each shared their favorite software or app for managing their daily, weekly or monthly tasks and why they simply can’t live without them.
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Long-term brand recognition and customer loyalty are common goals of almost every business. To create this kind of longevity, business owners will need to create brands that people like, remember and trust. As successful business leaders themselves, the members of Young Entrepreneur Council understand what it takes to build a company that withstands the test of time. Below, they shared eight key steps you can take to cultivate a truly timeless brand.
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Pinpointing a target audience is one of the most crucial steps in launching any successful business effort, including creating marketing campaigns and increasing sales. However, determining your audience is often much easier said than done. Before you can narrow down your ideal customer, you need to know how to do it correctly. To that end, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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With so many professionals now leaving their current jobs and rethinking their future career goals, companies are looking for ways to retain their employees for the long term. However, it can be difficult for leaders to identify a clear strategy for loyalty-building and employee retention, especially with larger teams. To help, nine members of Young Entrepreneur Council shared strategies for leaders to build or earn loyalty from employees. Follow their advice to keep your best workers on board and satisfied for years to come.
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Members of Young Entrepreneur Council share some important qualities companies should look for in their CTO candidates. Because the chief technology officer position is so important, you need to ensure that the right person assumes the role. A CTO needs to not only have a strong command of technology, but also project management, organization and team dynamics, among other things. If you’re hiring a CTO for the first time, you may not know exactly what to look for when reviewing applications and interviewing job candidates. Below, a panel of Young Entrepreneur Council members shared 14 traits they look for when hiring a CTO and why each quality is so essential to the job.
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When you want your business to stand out online, it's crucial to have a never-ending supply of new and creative ideas. Sometimes new ideas come naturally, but every business owner or entrepreneur will go through times when the creative juices aren't flowing when they need them to the most. This is when having go-to strategies for idea generation can come in handy. Here, 12 members of YEC share their best methods for coming up with new ideas to ensure your content stays fresh.
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Before a new business can set up a marketing strategy, the very first thing it must do is determine who its target customers are. While it may seem simple to pinpoint your ideal customer, sometimes you can end up making assumptions that aren’t actually true, and if you don't get your target customer base right, your marketing efforts will be focused on the wrong people. Fortunately, there are some tried-and-true ways for a business to determine who its target customers are. Here, eight members of Young Entrepreneur Council share their best tips for how to go about doing just that.
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Sep 30, 2021
As a leader, having confidence is a must.
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Technology can be an incredible asset for a small business when its uses are carefully considered and researched. Some business owners, however, may feel overwhelmed by the amount of technology they do or don’t need to succeed. To help you avoid making poor decisions around business tech, we asked Young Entrepreneur Council members to weigh in on the common business technology mistakes startups make that you should definitely steer clear of.
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Email marketing can be extremely effective for advertising products, whether through sale announcements or updates highlighting new items. But this marketing channel can also be leveraged in a number of other ways to connect with customers on a more direct and personal level, ultimately leading to more purchases. If you're looking to expand your current email marketing efforts, it's important to explore and execute the right strategies for your business. Below, nine members of Young Entrepreneur Council shared some of their favorite email marketing strategies that go beyond just selling a product.
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In order for any business to thrive, it needs to have a productive leader and team. However, productivity means a lot more than simply keeping busy. Sometimes, you can keep yourself busy working on tasks that essentially amount to nothing and lead you down a dead-end path of wasted time and energy. As a leader, it's important to understand how to make the most of every moment you have and the decisions you make. To that end, 12 members of Young Entrepreneur Council (YEC) weigh in with their answers to the following question:
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Like any other skill, better communication comes with practice. Whether you’re a business leader or an everyday employee, communication is an essential skill that can launch your career to the next level — if harnessed correctly. The power to communicate can better your relationships with your clients and colleagues, move you forward with projects and increase your opportunities for success in your industry. But while communication comes naturally for many professionals, for others, it takes a bit more practice and intention to get right. To offer their advice, 12 members of Young Entrepreneur Council share their best tips for professionals looking to improve their communication skills and progress in their careers.
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Members of Young Entrepreneur Council share simple, cost-effective ways companies can build credibility and trust with their customers. As a foundational pillar for business success, consumer trust can make or break a business — and building it from the ground up is no easy feat. With no experience or reputation to back it, a fledgling business can seem questionable and untrustworthy to potential customers. But to build that necessary credibility, new entrepreneurs will have to make the most of their startup budgets. To help set you on the right course, the members of Young Entrepreneur Council provided 13 cost-effective ways new companies can build credibility while earning the trust of their customers.
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Many professionals believe that having a large network is the key to success. However, it's often more crucial to have a few select contacts you can truly count on. These individuals can not only help further your career, but they'll also come through when others won't. Below, nine Young Entrepreneur Council members shared some powerful ways to forge meaningful professional connections. Follow their tips to curate a professional network that will be there when you need them.
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Seeking a mentor is a crucial step to success, especially if you're a young person just starting out in your career journey. Mentors can help their mentees learn from their own mistakes, widen their networks and encourage them to pursue their dreams. Entrepreneurs often make great mentors, as they can speak from experience on the trials and tribulations of entrepreneurial success. However, it's not always easy to find and convince an entrepreneur to be your mentor. Below, 10 members of Young Entrepreneur Council shared what young professionals should know about seeking mentorship from a business owner.
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Regular pay raises can show employees how much you appreciate their hard work and can also prevent them from feeling dissatisfied in their current environment. However, it's important to know when a raise will be the most effective and well-earned. That's why a panel of experts from Young Entrepreneur Council (YEC) weighed in on the following question:
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Your customers can be an invaluable business resource if you know what to ask. Happy customers are the key to any successful business. Ensuring a great customer experience requires sales and customer service teams to speak with customers and find out how they feel. However, your team must know the right questions to ask to gain truly valuable insights from customer conversations. Below, a group of successful entrepreneurs shared eight smart questions sales and customer service reps should be asking their company's customers. Here's what to ask and the potential impact the answer could have on your business's growth.
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As social media evolves, so should your social media marketing budget. Changing trends and platforms may mean putting some advertising dollars behind your campaigns and investing in creative talent to help you create and manage content. When determining your social media marketing spend, it's important to create an effective and specific marketing budget that factors in the content, paid ads and other investments that allow you to market to the right audience. To that end, a panel of Young Entrepreneur Council members explained the specific questions you can consider when deciding how to break down your social media budget.
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Business leaders have a lot of responsibilities. They need to be concerned with operations, finances, company culture and the hiring process, just to name a few. But each leader prioritizes responsibilities differently and responsibilities change from company to company. Below, a panel of Young Entrepreneur Council members shared what they believe is their most important job as a business leader. Here are the tasks they prioritize and why each one is key to running a successful business.
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In recent years, technological advances and the Covid-19 pandemic have paved the way for many companies to go completely or partially remote. This type of work environment means professionals are now more responsible for protecting confidential company data, no matter where they're working. From using weak passwords to logging into unsecured networks, there are many ways for well-intentioned remote workers to inadvertently open the door for hackers. Below, eight members of Young Entrepreneur Council explain how remote professionals can protect themselves against cyberattacks when they're not working at a central company location.
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Though a company's internal planning process is important, an outside perspective can also be equally beneficial. An advisory board, composed of experts who provide valuable insight and strategic advice, can offer that perspective to directors and higher-level managers. A strong board offers businesses a competitive advantage, allowing them to make informed decisions that will drive growth and success. For this reason, each member of the board must be a quality candidate who is truly invested in your organization's success. To help you find the best advisors for your business, the members of Young Entrepreneur Council shared nine key traits to look for in a great board advisor.
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Members of Young Entrepreneur Council offer their advice on how to stop chasing an imaginary perfection and move forward with your business. Entrepreneurs naturally want their businesses to be as perfect as possible. What many business leaders may not realize, however, is that in striving for perfection, they may actually be doing more harm than good. Leaders who always seek perfection can end up delaying projects, spending unnecessary money, destroying team morale and undermining their own self-confidence if they aren’t careful about how they channel this perfectionism. To provide guidance on how to do just that, the members of Young Entrepreneur Council shared their best advice for overcoming perfectionism in business.
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Sep 13, 2021
A few simple tricks can help you regain that lost motivation. If lately you’ve been feeling disengaged at work, like you’re lacking motivation to complete daily tasks or like you’re just generally unhappy with how your career is going, you may have fallen into a work rut. While easy to fall into, ruts aren’t always easy to get out of, especially if you don’t have the right mindset or the right strategies in place. To provide some guidance, the members of Young Entrepreneur Council offer 13 tips for how to effectively pull yourself out of a work rut and get reengaged with your career goals. Try these steps to see where your newfound motivation takes you.
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During the pandemic, consumers who couldn't safely shop in brick-and-mortar stores turned to online shopping instead. Whether it be for mundane tasks like grocery shopping or picking up prescriptions, or more leisurely activities like clothes shopping, these errands could be done efficiently from the comfort of home. But as brick-and-mortar businesses open back up and pandemic restrictions ease or disappear altogether, these businesses are once again looking to draw in more customers. To help, Young Entrepreneur Council members weighed in on what might help increase foot traffic to these stores and continue to keep shoppers invested in the "in-person" experience.
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Few people stay in the same exact role at just one company for their entire career. At some point in your professional journey, you'll likely seek out change, whether it's moving up in your organization or finding a job elsewhere. When a job opportunity presents itself, you may wonder whether it's the right move for you at that particular time. You don't want to take too long to make a choice, lest the chance passes you by—but you also don't want to rashly jump into something that isn't a good fit and later regret it. To help you make this important decision, a panel of Young Entrepreneur Council members shared nine questions you should ask yourself to determine whether a new professional opportunity is right for you.
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One of the most significant milestones for any business is the day it reaches a point of expansion. While every business owner looks forward to the day they can grow their business, it's important not to be hasty in doing so. A successful business expansion depends on a number of factors and needs to be carried out at the right time. To help you understand when the time is right for you to expand your business operations, 13 experts from Young Entrepreneur Council (YEC) answer the following question:
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With so many other ways to keep in touch digitally and so many other places businesses can compete for attention, email may not seem like a good first choice for communicating with your customers. And yet, while it's no secret that many people ignore their emails these days, email marketing is still one of the most effective ways to reach customers. To make your emails stand out, you’ll need to employ a few strategies to make your emails more enticing and able to grab the attention of your target audience. Here, nine members of Young Entrepreneur Council share their best tips for creating effective marketing emails and why they work so well.
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Working from home was gaining popularity in the years leading up to the Covid-19 pandemic. As most businesses were then forced to operate remotely during pandemic lockdowns, many people who may not have considered working remotely before got to have a taste of all its benefits. Now, many companies and organizations are choosing to keep operating with a hybrid workforce as a permanent solution. As leaders accept hybrid workforces as the new normal, they need to establish solid company cultures that revolve around working with in-office and remote teams simultaneously. Below, seven members of Young Entrepreneur Council share their thoughts on how to build a solid company culture with a hybrid workforce and talk about overcoming any challenges that leaders might face while doing so.
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Members of Young Entrepreneur Council list some common missteps companies make with social media engagement. Achieving high social media engagement rates is a valuable goal for any modern company. Likes, shares and comments all give companies a quantitative way to measure how positively they’re perceived by their audience members. But in striving for these numbers, companies can overlook certain mistakes that, when resolved, would actually end up helping their efforts in the long run. Below, a panel of Young Entrepreneur Council members list some of the most common mistakes companies make when it comes to engaging their audience on social media and explain what they should be doing instead.
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One of the most intimidating things about starting a business is having to pitch your idea to a room full of investors. Sometimes a pitch will go great—and then sometimes it won’t. When you start breaking a sweat and feeling like you’re about to mess up, it may seem like your presentation is on its way to becoming a train wreck. However, with some expert advice and a little bit of confidence, you can salvage an investor pitch meeting that’s going downhill. To help, 13 successful entrepreneurs from Young Entrepreneur Council share key steps you can take to turn things around and get investors to take a chance on your business.
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Influencer marketing has become one of the primary ways brands advertise their products since the rise of social media. However, when celebrities and influencers become embroiled in scandal, the brands they represent end up dropping them. In addition, the pandemic has changed the way customers have been interacting with brands, forcing many to rethink their strategies. It's apparent that influencer marketing is changing, but what direction it's headed in isn't exactly clear. To share their insights, members of Young Entrepreneur Council weigh in with their predictions for the future of influencer marketing in the coming months and years.
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At a time when consumers crave authenticity in messaging, personal branding strategies have never been more important. Celebrities and big brands tend to make headlines often in this regard, offering the rest of the world valuable opportunities to learn and grow from their mistakes or successes. Below, nine members of Young Entrepreneur Council each shared a brand or personality they believe has a top-notch branding strategy. Here's what the panel thinks others can learn from these influential individuals and organizations.
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As a leader with a lot of responsibility on your shoulders, you'll likely experience many moments that cause you anxiety or fear. Whether you're battling imposter syndrome or simply taking on too much work, it's easy to feel like you're just treading water. Thankfully, there are ways you can address these stressors and insecurities to become the most empowered leader possible. Below, a panel of Young Entrepreneur Council members shared some "brain hacks" to help leaders overcome these fearful moments. Follow their advice to help you move forward in your business with confidence.
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Chief operating officers (COOs) are important assets to every organization. This critical C-level role oversees the day-to-day administrative and operational functions of the business they serve, as well as manages departmental leaders under their areas of purview. When it comes to hiring the right person for the role of COO, you may need to think beyond your normal hiring processes. To help, the members of Young Entrepreneur Council shared 10 tactical steps all companies should take to ensure they hire the best COO for their team.
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As your company grows, you might face challenges maintaining the same level of transparency across departments and teams as you had when your company was small. However, doing so is crucial to cultivating a healthy company culture with every employee on the same page. A big part of promoting transparency is ensuring clear communication between all departments, especially when it comes to shared projects and goals. To help you do this, nine members of Young Entrepreneur Council explained how to achieve the right level of communication and transparency.
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Members of Young Entrepreneur Council offer their best advice for switching career fields to technology. People often lose interest in their careers over time. Accelerating this trend, the pandemic has seemed to ignite the spark many people needed to finally realize their dissatisfaction with their current work. As a fast-growing field with unlimited opportunities for the future, the tech industry is a popular place to turn to for those seeking new challenges. Below, 11 members of Young Entrepreneur Council share their best tips for breaking into the tech industry when you’re new to the field and explain how you can set yourself up to land that first job.
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After more than a year of staying at home, many people are excited to travel again -- including entrepreneurs. In fact, getting some space from your business can really help clear your mind and prevent burnout. However, many business owners are still facing lingering challenges due to the pandemic, and it can be difficult to find time to step away from work. With the right planning and delegation tactics, though, business owners can indeed enjoy a much-needed vacation. To help, eight members of Young Entrepreneur Council shared tips for making it a little easier to take time off this year.
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In the growing gig economy, there's fierce competition in many freelance markets. Far too often, contractors will try to earn repeat work from a client by going the extra mile and taking on extra work only to not get properly compensated for it. As business professionals, it’s important for freelancers to stand up for themselves and their work and get the compensation they deserve. To help, a panel of Young Entrepreneur Council members shared their advice. Below, they discussed what freelancers can do before or after taking a job to ensure that they don't get taken advantage of by their clients.
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No matter if your company has been remote since the start or if you’re new to the remote working environment, you can always learn new remote employee onboarding tips to improve your virtual onboarding process. From potential technical difficulties to struggles connecting with your team, the issues associated with virtual onboarding can be smoothed over with the right strategies in place. Here, 10 members of Young Entrepreneur Council list out what those strategies should include in order to be successful.
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For those working within a small business or team, it can be difficult to take time off. No one wants to go on vacation at the expense of their company and peers—especially during periods of rapid business growth. Still, employees and leaders need to establish healthy work-life boundaries, even when their team is small and the work is plentiful. To provide guidance on how to do just that, eight members of Young Entrepreneur Council shared some strategies to help small teams establish balance while their company is growing quickly. Follow their advice to help you and your team better prioritize rest and relaxation.
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Content may be king, but to truly have an impact, what you create must be engaging and influential. Whether it's blog posts, podcasts, videos, newsletters or something else, today's consumers are looking for a steady stream of valuable, interesting information from the brands and influencers they follow. For leaders, producing high-quality content is an excellent strategy for growing a loyal audience and influencing public opinion. However, if you want your content to be influential, it has to be done right. To help brands and creators up their game, eight successful entrepreneurs share their top-recommended tips for developing and publishing highly influential content.
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One of the biggest challenges for any new entrepreneur is learning their own sales habits and processes. It can take years for a person to really hone their skills and become an excellent salesperson. To help those starting out on their sales journey, the experts of Young Entrepreneur Council shared their experiences. Below they discussed the sales tips they wish they knew when they first started out and how those lessons can help new and aspiring entrepreneurs get on a path to business success.
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The process of hiring new employees can be both rewarding and difficult. Hiring managers or HR representatives need to make sure each candidate not only fits into the company culture and values, but also can do the job successfully. Some hiring decisions can be particularly hard to navigate, especially as a small business owner. Below, nine Young Entrepreneur Council members shared the biggest hiring challenges they've ever faced and the steps they took to overcome them. Read their advice to help you if you're struggling to recruit, hire or onboard new talent for your company.
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Members of Young Entrepreneur Council share strategies for making your sales pitch over Zoom more effective. It’s a generally understood rule of sales that your sales pitch and technique should always adapt to the individual client or business you’re selling to. To be a truly effective salesperson, however, you must also adapt your technique to the environment in which you’re pitching. Increasingly, the sales environment of choice has been over Zoom or other video conferencing tools. Because you don’t have your usual in-person strategies to fall back on, you’ll want to consider these 10 steps recommended by a panel of Young Entrepreneur Council members if you want to nail your next pitch.
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Success starts with building one small habit at a time. Some of the most successful people in the world swear by following a daily routine and building positive habits. When you focus your attention on building positive work habits, you'll notice things start to change. You'll be able to communicate better, tasks will feel less overwhelming and you'll be able to approach problems with a clear mind. Sometimes building a small habit takes a lot of focus and effort, but it's well worth it for the success of your future. Here, 15 members of Young Entrepreneur Council share the positive work habits they have been cultivating and how those habits have helped them be more successful leaders.
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Getting involved in your local community is an easy way to build relationships and find loyal customers for your business. Hosting a community event can help you kick-start these relationships, but events can be expensive, and a new small business may not have the resources necessary to host one. To help small businesses find some effective yet budget-friendly event solutions, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Now more than ever, people are skeptical about the products and services they want to purchase. Prospects will spend a lot of time researching everything there is to know about a brand before they commit. With technology to the point where augmented reality and virtual reality can be applied to a website easily—and at low cost—many brands and businesses are using it in different ways to enhance their websites' user experience. Here, members of Young Entrepreneur Council share some of the ways any company can use augmented reality and virtual reality for their sites.
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When you're looking for advice on how to manage certain parts of your business, it can be wise to seek an advisor to counsel you. However, hiring the wrong advisor can lead you down a long and frustrating path that could even result in losses for your business. There are some unwritten rules to follow when seeking out a professional to advise you on business matters. Here, members of Young Entrepreneur Council share their expert tips on what all entrepreneurs should keep in mind when seeking out a business advisor.
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Aug 10, 2021
Online contests are a great way to ramp up excitement for your brand and boost engagement from your audience.
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Whether it’s about a job offer or a potential business partnership, every professional will find themselves negotiating at some point in their career. The secret to achieving a positive outcome for both parties doesn’t have to be a mystery, however, and the key is often in thorough preparation and knowing some effective negotiation strategies. To help professionals who are looking to hone their negotiation skills, the members of Young Entrepreneur Council shared important steps to negotiating well.
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Podcasts offer a convenient, time-saving way for entrepreneurs to keep up with current events and gain new insights about business and finance. Most business owners likely have a list of go-to podcasts that they tune into regularly to get advice on everything from hiring people to managing a team and other important aspects of running a business efficiently. In order to spread the wealth of knowledge they've obtained from their favorite podcasts, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Members of Young Entrepreneur Council discuss some major issues with the e-commerce experience. In 2020 alone, e-commerce sales worldwide reached a total of nearly $4.3 trillion, and it continues to be one of the fastest-growing industries in the world. However, that doesn't mean consumers are always happy with their online shopping experience. From lack of product information on e-commerce websites to slow page speeds, customers have spotted holes in the e-commerce experience providers should be filling. To help e-commerce companies create better customer experiences, 12 members of Young Entrepreneur Council shared the biggest pain points customers face and potential solutions companies can implement.
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Everyone has to start somewhere when building their skills. Here's where to begin if you want to lead. When someone thinks of leadership skills, they may think of decisiveness, the ability to delegate and problem-solving. Each of these skills can go a long way in career and personal development. However, not everyone always knows how to develop those skills or where to turn to for advice. Whether you want to be a leader or just start taking a more active role in your life, consider this advice from the members of Young Entrepreneur Council. Below, each shared one action you can take to start improving your leadership skills today and how they might help you in other aspects of your life and career.
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The world of marketing is ever-changing, especially in today's digital-first world. Successful marketers not only need to be masters at capturing customers' attention and showing them the benefits of their product or service, but they also need to know how to leverage the most up-to-date digital tools to reach those customers. As business leaders, the members of Young Entrepreneur Council understand the importance of staying up to date on marketing skills. Below, a panel of them shared nine of the most important habits and skills all marketers should pursue. Read on for their insights on which actions can advance your marketing career.
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When you are interviewing job applicants, there are certain “soft skills”—that is, non-technical skills that relate more to how you work with others and solve problems—that you should be on the lookout for, as these attributes are not usually spelled out on a candidate’s resume. Here, members from Young Entrepreneur Council share 13 underrated but important soft skills they look for when they are hiring new employees.
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As companies look ahead to the post-pandemic world, many are struggling with whether or not to bring employees back into the office. Some have opted to stay remote full time, some will bring employees back to the office and others have considered embracing a hybrid workforce with a mix of in-office and remote work. No matter which path companies choose, a few hurdles are bound to crop up—especially in cases where an employee was hired remotely and is now expected to report to a physical workplace. To help curb any issues companies might face during these transitions, members of Young Entrepreneur Council proposed some solutions for employers who want to support their employees as they shift back to "normal."
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Weekly standups and regular reports are great ways for leaders to check in with their teams. These are times to briefly share updates and ask about any concerns or questions the team may have before the day or week begins. But while many companies know that checking in with their teams on a regular basis is a positive thing, some may just be hosting these meetings as a way of going through the motions. In order to get the most out of these meetings, you have to be intentional, which is why 10 members of Young Entrepreneur Council each shared one thing leaders can do to make weekly standups more useful and meaningful for them and their team members.
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Members of Young Entrepreneur Council discuss why open-source software meets small business needs better than tech from major corporations. To be an effective business, it helps to have the right technology at your disposal. Because of their name recognition and broad advertising reach, major tech corporations like Microsoft and Google may be the first thought of businesses big and small looking for the right software to meet their needs. However, they may not actually be the best choice. Especially for small businesses with limited staff and often even more limited budgets, open-source software may be exactly what they need. To explain why, nine Young Entrepreneur Council members list off some of the specific reasons why open-source software may be able to help small businesses in ways major tech companies never can.
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Being a business leader means being the boss. It means being at the top of the company, making key decisions that affect not only the business, but also those who work for it. But being a successful business leader also means being humble and understanding that you are not alone in your trials and that you can trust your teams to help you through the harshest of times. As business leaders themselves, the members of Young Entrepreneur Council have learned many lessons about humility throughout their careers. Below are a few of those lessons and how they’ve helped these entrepreneurs become better leaders and people (and how you can become one too).
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School looked very different for many students this past year and a half due to the Covid-19 pandemic. For recent college grads, the future of work may seem like it’s filled with even more of the same uncertainty as the job market evolves and heals in the aftermath of 2020. But despite what’s occurred, it’s important to move forward and find ways to begin your career in a way that will set you up for success. To provide some guidance on how to do that, 10 members of Young Entrepreneur Council offered their best advice for recent graduates looking to start their careers during this unprecedented time.
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Having a “side hustle” can be a great way to test the waters of entrepreneurship. Aside from providing a creative outlet and a chance to develop new skills, a side hustle can also turn into a reliable income stream. There may even come a point where you begin to wonder whether your side hustle can become your full-time gig. But how can you test whether your side hustle is actually a worthwhile business idea without risking it all? To help you answer this question, nine members of Young Entrepreneur Council offered some steps you can take to determine if you can turn your side hustle into a successful business venture.
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Businesses have access to a treasure trove of valuable customer data, from how their audience is engaging with a social media post to their feedback on a product or service. When properly collected and analyzed, this data is invaluable for improving the customer experience — but you need to be collecting the right data. Below, 12 members of Young Entrepreneur Council (YEC) share their insights by responding to the following question:
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Communication breakdowns can occur at any time and in any work environment, but can seem especially prevalent in remote work situations. While remote work has its own unique benefits, it also means employees and managers are relying more on written, phone or video communication and less on the in-person communication and body language cues that can be so helpful for clarity. So when that clarity is muddled and an employee is consistently feeling like they and their manager aren't on the same page about a project or expectations, what route should the employee take to remedy the situation moving forward? To provide the answer, a panel of Young Entrepreneur Council members offer eight ways employees can seek to resolve this miscommunication and gain more clarity in the future.
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Members of Young Entrepreneur Council explore some possible negatives of shifting your entire business model to the cloud. The pandemic opened up new possibilities for remote work among companies big and small. Some organizations are even interested in remaining remote or utilizing a hybrid work model by implementing a cloud-based system. While this model can have some major advantages, including minimizing costs and increased accessibility, cloud computing can also have major drawbacks. To help you make the decision that’s best for your company, 11 members of Young Entrepreneur Council explained some disadvantages to consider before going completely cloud-based.
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Starting a business is one of the most challenging career moves you can make, but knowing some important facts beforehand can help. No aspiring entrepreneur has all the information they need to start a business upfront. Many lessons about startup life are learned through experience, and you can't and won't know everything in advance. However, it can help to have some insights and advice from those who have been there before. To help prepare you for the journey of entrepreneurship, a group of successful business leaders each shared the one fact they believe every startup owner should know prior to launch day. Take their lessons to heart if you're planning to start your own company.
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While many large companies may have the resources to offer funded relaxation retreats or other extensive mental health perks, it can be difficult for small businesses to find ways to offer similar benefits without those same resources. So how can a small business owner prioritize the mental health of their employees on a budget? Below, 12 members of Young Entrepreneur Council (YEC) shared their thoughts by responding to the following question:
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The Internet of Things (IoT) has been gaining more and more traction over the past few years as connected devices and smart home and office gadgets dominate the market. According to Statista, the IoT market revenue worldwide is projected to climb to over 1 trillion dollars by 2030. With this increased revenue comes a number of new ways for businesses to leverage IoT technology. Below, a panel of Young Entrepreneur Council members shared some business opportunities they see emerging in the IoT sector. Keep an eye out for these 10 growing trends in the B2B IoT space.
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Searching for a new job can be a huge challenge. Modern recruiters have an influx of applications to sift through and judge, and it can be difficult to stand out from the crowd. Many professionals offer advice to help people get noticed by potential employers or guide them toward better career options, but not all job hunting tips are good ones. To provide some clarity, 10 members of Young Entrepreneur Council weighed in on some of the most overrated job search advice they often hear. Here's why they believe these commonly-dispensed words of wisdom aren't necessarily all that wise.
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Fear is a paralyzing emotion and can stop even the most experienced business owners in their tracks. For entrepreneurs — who count on moving forward as a way to keep their businesses thriving — letting fear get out of hand can be debilitating. But like any business leader, the members of Young Entrepreneur Council have had their fair share of fears throughout their own entrepreneurial journeys. Below, 13 members shared what they've been most afraid of as entrepreneurs and how they’ve changed their mindsets to reduce the impact of those fears on their businesses.
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With social media, businesses have a unique tool to get firsthand insights from customers in an environment which allows them to interact with their audience, ask questions, highlight new products and share information. However, with this tool can come the potential for massive disaster. Social media is littered with examples of brands and companies that failed to realize the best way to use these channels for customer service and have suffered the consequences. To help, 12 professionals from YEC weigh in on some of the rules businesses should keep in mind when using social media to engage with clients in a customer service setting.
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Members of Young Entrepreneur Council explain how companies can better manage the safety of their customers’ data. IoT devices like home security systems, robot vacuums, fitness trackers, smart lightbulbs and everything in between are designed to make users’ lives easier and more efficient. But to achieve that ease, users must input data, often personal, to help these devices function well—which can sometimes mean forgoing security for functionality. However, there are steps companies can take to protect their customers’ data and ensure better security for their devices. Below, 11 members of Young Entrepreneur Council list some of those steps and explain why managing data security for these devices is so important.
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Jul 15, 2021
Taking on the leadership role of a manager can be daunting the first time. You're in charge of an entire team, and their successes and failures fall largely on your shoulders. Even though it can be intimidating, it's important to start on the right foot. If you're a first-time manager, you'll want to prove to your company why you were the best person for this position. Begin your new career path successfully by following these tips from expert managers from Young Entrepreneur Council.
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Jul 15, 2021
So, you have a great business idea and a basic foundation of your vision. Your next step, before pitching to investors or even thinking about launch day, is to write a solid business plan. A business plan serves as the guide to your business’s beginnings by laying out potential stumbling blocks and fielding your target market. However, crafting one isn't always as easy as it seems. Below, nine members of Young Entrepreneur Council explain what they wish they'd known when they were writing their first business plans and why that would have helped them.
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Digital receipts, online bank statements and cloud-based document storage are the norm in today's business world. Some business owners may wonder whether they truly need physical copies of any documents at all these days. However, some important documents should always exist in both physical and digital form. To that end, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Chatbots can enhance the customer experience on your company website if they’re designed well. But all too often, these little bots have features that disrupt the user experience, resulting in bounces and a feeling of poor customer service. Avoid creating annoying and frustrating customer experiences with chatbots by following the insights from these 10 YEC professionals. They’ve pinpointed the most irritating features and designs of chatbots and offered ways to instead maximize their usefulness.
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Members of Young Entrepreneur Council discuss characteristics all top tech companies share and why. All companies start off in the same place—no clients, no reputation, no proven track record of success—but when you think of any top tech company, there’s usually a reason why they made it there. As technology continues to progress and the need for technology companies grows, more and more business leaders are going to be looking for ways to emulate that success. To take some of the guesswork out of the equation, these 12 leaders from Young Entrepreneur Council discuss the traits all successful tech companies seem to have in common and why. Consider these traits when determining the right path to success for your business.
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New entrepreneurs start businesses every day with great ideas and visions for success. However, many of these ideas never materialize and up to 20% fail within the first year. This is especially true of one-person businesses, which make up a considerable portion of new companies. These "solopreneurs" may have the best intentions starting out, but many end up running out of funding or aren’t able to reach their target market. Below, eight members of Young Entrepreneur Council laid out the main reasons why many one-person businesses fail and what solopreneurs can do to prevent this.
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Among the many major impacts the pandemic has had on the status quo, none have so disproportionately affected women quite like its impact on the labor force. Whether they were laid off, furloughed or forced to choose between family and work when alternative child care was no longer an option, millions of women left the workforce during the pandemic, outpacing the rate at which men were leaving. And not all of them are coming back. But from entry-level workers to solopreneurs and CEOs, women make up an important segment of the workforce, and to encourage women to return, these six leaders from Young Entrepreneur Council have a few ideas in mind. Below, they outline a few of the steps companies can take to remedy some of the ongoing women’s issues brought to light by the pandemic and how to better support women in the workplace moving forward.
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Gauging how happy and fulfilled employees are in their jobs is important for small business leaders to do in order to determine the health and strength of their businesses. The more satisfied employees are, the more likely they'll stay with the company long term and the higher their productivity will be. But how can you know if your staff is enjoying their work, especially when they may not feel comfortable expressing their true feelings with their superiors? To help, 10 small business experts from Young Entrepreneur Council (YEC) answered the following question:
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There are some business leaders who instantly light up a room when they walk into it. They have this charisma that draws people to them and makes others want to listen. However, if you don't feel like you have this type of personality naturally, you don't have to give up on being able to make a positive impact on others. With a few simple techniques, you can be a business leader whom others look up to and wish to be. Below, 13 professionals from Young Entrepreneur Council offer their best advice for how to be a positive influence even when charisma doesn't come naturally to you.
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Many employees are familiar with receiving feedback from their managers. However, few are as familiar or comfortable with giving feedback to their managers. Whether it’s because, as an employee, you don’t feel like it’s your place to offer criticism or because you just aren’t sure how to go about doing it, approaching a superior with a critique can be a frightening prospect. But with the right attitude and strategies at your disposal, you can make the feedback process less intimidating and even helpful—for you, your manager and your relationship. Below, nine members of Young Entrepreneur Council each shared their best advice for how to offer feedback to your manager and do so in a way that will be well-received. Follow these tips to start building a more constructive culture at work.
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Members of Young Entrepreneur Council share their best tips for marketing your newly launched mobile app. When launching a new app, you’ll want to invest your time, money and effort into marketing it. Otherwise, you won’t reach your intended audience or boost your sales. If people don’t know about your app, they likely won’t be able to find it or won’t feel inclined to try it out. To that end, 13 members of Young Entrepreneur Council shared marketing tactics a company can use to get people excited about their new application before and after launch. Here’s what they recommend and why these methods work so well.
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Thanks to search engines leveling the marketing playing field, even the smallest business can today benefit from the reach that search engine marketing (SEM) offers. But when you’re short on money, time, and resources, learning all about SEO and SEM—and how to leverage them effectively in your digital marketing strategy—can be a challenge. Here, 13 leaders from Young Entrepreneur Council share SEO and SEM tips that work for them, and that won’t break the bank.
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A study found that only 2.5% of people multitask successfully, which leaves a lot of room for improvement. By focusing your attention on one task at a time, it’s easier to do quality work and waste less time.
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While some may argue that “words are just words,” the language a leader uses can have a major impact on their employees. A leader’s words can be responsible for boosting morale, driving progress, resolving conflict and building relationships, so it’s vital that they choose them carefully. The wrong words, even well-intentioned, can have a negative ripple effect across the organization. However, it’s not always so easy to know what not to say and why, especially when many words have become a normal part of your everyday speech. To offer some guidance, a panel of Young Entrepreneur Council members discuss some of the words and phrases they commonly hear business leaders use and explain why they can have such a negative impact on your employees, your business and even yourself.
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Work can be a distracting place. You have questions and requests from your co-workers or boss interrupting your workflow. You have your cellphone to distract you—emails and texts you feel compelled to answer, social media messages you need to respond to and calls you need to pick up. Without a doubt, maintaining focus is a challenge if you're not strategic about how you spend your time. But achieving a state of deep work is important if you want to maximize your creativity and solve complex problems. For insights on how to achieve this state, consider the following advice from the members of Young Entrepreneur Council. These tips can help you set boundaries with your time and take back control of your schedule so you can make the most of your day.
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Just because a piece of advice is common doesn't mean it applies to every entrepreneur. Follow your passion. Always be hustling. Don’t be afraid to take risks. Every new and aspiring entrepreneur has likely heard common pieces of business advice like this repeated over and over again. The problem is that these types of tips are rarely universal; each business is unique and needs to find its own path to success, regardless of what has worked for other entrepreneurs. Below, eight successful entrepreneurs shared some common business principles that they believe are overrated. Here's why they think you shouldn't necessarily follow these tips, and what they would advise doing instead.
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When looking for a new job, getting an offer is only half the battle. The most nerve-wracking part of the process may come when it's time to negotiate the offered salary. Many don’t know how to do it and many more are simply too afraid to ask for fear of appearing pushy. However, negotiation doesn’t have to be an intimidating process. To help, seven members of Young Entrepreneur Council share their best pieces of advice for negotiating your salary after receiving a job offer. Here are their recommended strategies and why they believe more job seekers should follow them.
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With the rich educational value podcasts often provide their listeners, it’s no surprise that the business community turns to this popular form of content to improve their skills and strategies. Some entrepreneurs even make major business decisions based on the information they’ve learned and the stories they’ve listened to on podcasts. With this in mind, 14 members of Young Entrepreneur Council responded to the following question:
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To be great leaders, they’ll first need a great leader. Companies thrive when their employees are able to take ownership of their actions and understand that they have a direct impact on the business’s success. However, some employees may not have the skills they need to become leaders, while others may lack the confidence or the feeling of support from their employers. Empowering your employees to become leaders starts with you. To offer some guidance, 12 members of Young Entrepreneur Council offer advice on how you can cultivate a culture of leadership in your workplace and empower your employees to go above and beyond for themselves and the company.
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Members of Young Entrepreneur Council share the best technology innovations they've seen recently and why each is so impressive. The technology industry continues to boom faster than ever, especially in today's digital-first world. New innovations are springing up every day, from smartphone technology to machine learning and more. Tech innovations not only optimize business practices across industries, but also afford a better quality of life to consumers. But which ones are the most impressive and useful? Below, 10 members of Young Entrepreneur Council describe what they see as the best recent tech innovations and why each one is so helpful.
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For new business owners, it may not always be clear when to move beyond core employees and begin bringing on some new teammates. Growing pains are normal for a startup that is doing well, so until you see your employees are struggling, you may not realize that it’s time to bring on additional help. To help you better spot the signs, a panel of Young Entrepreneur Council members offer eight indications that your company needs additional support staff. Look for these issues within your business so you can face the problems head-on and give your employees the help they need to do their jobs well.
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Everyone experiences changes in their lives, whether big or small, and the stress that comes along with these changes can either hurt you or allow you to grow stronger. One of the best ways to manage this stress is to learn to be more adaptable. When you're able to adapt, you're less likely to feel stressed by minor or major changes that happen in life. Here, 13 members of Young Entrepreneur Council explain how you can adapt to whatever comes your way so you can fight off the stress of new circumstances.
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Startup accelerators and incubators are great opportunities for new businesses to grow and scale their operations quickly. These programs are pivotal for the startups who participate in them, as they often provide access to exclusive business resources and funding opportunities. However, they can also be highly competitive -- acceptance to an accelerator program relies on creating a compelling pitch and proving your startup's potential right out of the gate. If you're thinking of applying to a startup accelerator or incubator, consider this advice from the members of Young Entrepreneur Council.
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Jun 14, 2021
Members of Young Entrepreneur Council predict which industries AI is likely to have a major impact on in the near future. Artificial intelligence has already had a major impact on the tech industry. The numerous products and applications that now run on AI have allowed businesses and consumers alike to streamline everyday tasks and save valuable time and effort. As AI becomes more readily available, it will continue to become more prominent in other industries. Below, a panel of Young Entrepreneur Council experts shared which fields they believe artificial intelligence will disrupt next and why. Keep an eye out for AI-powered trends in these 14 industries.
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Business leaders often think they need to have all the answers. It's true that a manager or executive should be a trusted source of information when employees or clients need something. However, it can be difficult to know how to proceed when someone asks a question you don't know the answer to. Fortunately, there’s power in admitting you don't know something, and it often makes you appear more authentic and human. So to help you navigate interviews, meetings and customer interactions with ease, nine members of Young Entrepreneur Council explained how business leaders should answer questions they’re unsure about and why each approach is so effective.
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Members of Young Entrepreneur Council share their best tips for overcoming self-doubt when starting out in business. Impostor syndrome describes the feeling that you’re somehow a fraud in your personal or professional life. People who suffer from this psychological pattern often believe that they just got where they are by luck, which invalidates or diminishes their achievements in their own minds. New entrepreneurs, especially those who have limited experience in their industry, often succumb to impostor syndrome. They may feel like they don’t know what they’re doing and that their partners, clients or employees might find out and walk away. If you’re struggling with impostor syndrome, 12 members of Young Entrepreneur Council share some strategies here that may help you combat it.
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Hiring talented new employees can help a company grow. Young employees, in particular, often bring fresh perspectives, new skills, and lots of creative energy to the businesses they join. However, it can be difficult to attract young talent, especially in today’s competitive hiring environment. Here, 10 members from Young Entrepreneur Council share how your business can attract the best young professionals.
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As a new small business, engaging your community is crucial to getting your business off the ground. The goal is to nurture lasting relationships that will drive your revenue and increase brand awareness; however, forming genuine connections with members of your community requires strategy and patience. To help you do this, 15 members of Young Entrepreneur Council answered the following question:
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Newcomers to the world of business ownership may have a hard time navigating all the requirements and challenges of setting up their first company. If you’re just starting out, finding another founder who has been through it and can provide sound advice may be worthwhile. With industries evolving so quickly these days, though, it could be difficult to find someone who understands your target market very well. When planning to open your new business, the first steps you take are crucial. Doing the right thing from the get-go can give entrepreneurs an advantage, as they can get up and running that much sooner. To help, 12 experts from Young Entrepreneur Council shared key first steps to take to ensure that your company achieves long-term success.
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Some work environments are healthy and result in an open sharing of ideas and techniques. Unfortunately, others can be decidedly more toxic, but it’s not always easy to notice when it’s your everyday reality. Because a daily work environment can be fluid and dynamic, it's sometimes hard to spot the red flags that denote a toxic environment. Most entrepreneurs may not even realize one is forming around them. Here, eight leaders from Young Entrepreneur Council share some lesser-known red flags you should be looking for if you believe you’re working in a toxic environment and suggest what you might do if you spot any of these signs.
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Product packaging is often overlooked as something unimportant. However, like an extension of the product itself, it can attract customers as well as build the brand's reputation. But the look of the product packaging is only the start. The packaging should not only appeal to the customer, but also to any potential retailers. Below, nine members of Young Entrepreneur Council examine the key elements that businesses should look at when developing packaging for a product and explain why these factors can help the product be more attractive.
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Members of Young Entrepreneur Council explain how to encourage employees to play an active role in shaping organizational culture. Cultivating an empowering and supportive culture for employees is one of the most important parts of building a team. A company's culture should be created for and by its staff, so involving your team in the development process will help you reap the best results. To help you do this, a panel of Young Entrepreneur Council members shared 10 creative ways to encourage employees to foster their own company culture. Here’s why these tactics are so effective, and how you can implement them in your workplace.
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Major changes are often necessary for a company that wants to keep growing and scaling. When critical moments occur, however, (such as a merger or landing a major client) leaders need to set the tone for the rest of their employees. How they respond to them will trickle down and set the example for how everyone else will work. One of the most important things a leader can do in these times of change is fortify and maintain the trust of their employees. Below, nine members of Young Entrepreneur Council shared their methods for keeping employees' trust during pivotal moments for a company.
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One of the best ways to keep a business innovative and growing healthily is for leaders to set tangible goals for teams. To motivate teams to accomplish their goals, it helps to assess the progress toward meeting them on a quarterly basis. This way, at the end of every quarter, the whole team can look back and track the progress they’ve made, see what still needs to happen and prepare for the quarter ahead. To help, 11 members of Young Entrepreneur Council shared tips for assessing accomplishments at the end each quarter so that you can plan or revise strategic goals. gear up for the next one and keep your company on course.
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As a business owner, it's easy to lose sight of the office morale around you. Most entrepreneurs are focusing on many concurrent tasks that can strongly affect the business's health and success. While important, these packed schedules and heavy workloads can mean they don’t notice the issues that may be rising all around them. Ideally, a business owner must learn how to balance monitoring employee morale with completing their own tasks to ensure the efficient running of the business—but how? To help, eight members of Young Entrepreneur Council talk about the strategies they employ to successfully juggle the demands of their companies while keeping an eye on the morale of their teams.
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As an entrepreneur, you're likely to face adversity, rejection and low self-confidence at some point in your journey. These are bound to happen over time, and how you deal with them can define the success of you and your business. The secret to bouncing back from these challenges is building your resilience. To help you, 10 members of Young Entrepreneur Council reflected upon their own entrepreneurial stories and shared their insights. Below they discuss their tips for developing a "thicker skin" to handle adversity with grace.
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Return on investment is one of the most critical metrics any company can track. Knowing the ROI of each company function makes it easier to make key business decisions. Measuring the return on customer service investments can be especially helpful in improving your service and experience. However, it's not always clear how to distill those numbers in actionable ways. Below, a panel of Young Entrepreneur Council members discusses the most effective ways to make customer service ROI figures more measurable and impactful for a business.
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Members of Young Entrepreneur Council share the most important lessons they've learned about leading from afar. The COVID-19 pandemic has rocked the world’s foundations in all aspects. Countless companies have had to change their business models and switch to remote work to keep their employees safe. But after more than a year of this virtual work environment, leaders have learned valuable lessons on how to lead—and how not to lead—when their teams aren't all in one location. The members of Young Entrepreneur Council know the challenges of pivoting their leadership style in the current climate. Below, 13 of them shared the lessons that have taught them how to be better leaders in this new remote work era.
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To boost sales, encourage collaboration and see your business succeed, you first need to create the right environment.
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Running a business from your home brings with it a whole host of benefits, including being an extremely cost-effective option, but it also has its cons. When your business takes place at home, it's very easy for household demands to overshadow business needs. So what’s the best way to run a business from the comfort of your home while ensuring productivity and a healthy work ethic? Eleven members of Young Entrepreneur Council share their insights by responding to the following question:
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Disagreements will happen from time to time, regardless of how well a team works together. However, conflicts shouldn’t result in destroyed relationships or grudges. It’s important for professionals to know how to prevent a situation from escalating and get their point across without becoming rude or arrogant in their words and actions. While resolving disagreements on a positive note can take a bit more work, the end result is a happier relationship and overall workplace. Below, nine members of Young Entrepreneur Council examine the best strategies for dealing with disagreements in the office and how these methods can help the conversation move forward.
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When you've spent tens or hundreds of hours preparing for a deal, there's a distinct sense of relief when it gets to the point of closing. Yet, even in these situations, the deal still can go sideways if not handled carefully. Using the wrong negotiation tactic here could mean all your hard work goes down the drain or the deal remains open. So how can a professional ensure that the deal gets closed? To help, eight members of Young Entrepreneur Council discuss negotiation tactics that have been instrumental for closing deals in their own experiences and why they worked so well.
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One of the biggest influences on a business and its employees is a positive attitude. Leaders who have a positive mindset and are pleasant to be around get the most out of their peers and employees. A happy attitude is infectious, and when workers are in a good mood, they yield good results. But if you aren’t where you want to be in your career or you’re unhappy at work, getting to that frame of mind consistently can be difficult. Below, 14 members of Young Entrepreneur Council discuss the ways professionals can keep a positive attitude and take charge of their own happiness at work—even if they're not in love with their job.
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Members of Young Entrepreneur Council explore some user experience trends every app developer should be implementing. When you're developing a mobile app, there are many features to consider during your creation process. However, the most important thing to prioritize is the app’s overall usability and design. You may have a great marketing campaign to drive downloads, but if you don't create a user-friendly experience, consumers are unlikely to keep using your app. To that end, 11 members of Young Entrepreneur Council shared some of the UX trends developers should consider implementing. Here’s why these user experience elements are so helpful in creating a successful mobile app.
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Not every method is going to work the same for every person. These days it seems like every working professional is trying to hack their productivity. From multitasking to juggling more work adeptly, these productivity hacks claim that they can help individuals do more in a shorter span of time. For many business owners who are strapped for time, these hacks seem like the perfect solution. However, many of them aren't worth the time that someone may dedicate to them. While these hacks work fine in theory, their effectiveness levels vary from individual to individual. Below, 11 entrepreneurs from Young Entrepreneur Council discuss several popular productivity hacks that they personally find highly overrated.
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May 3, 2021
When it comes to creating a valuable email newsletter for your customers, you need to consider the value of the content within it. For the newsletter to create real impact, it should include a wide range of topics and content types, as some readers will respond to certain types of content differently than others. Here, eight members of Young Entrepreneur Council discuss some of the components every newsletter should include in order to pique and maintain reader interest. Ensure these components make it into your newsletter design plan to help you build a list with impact.
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Conversion is an essential part of crafting a retail website. After all, it's one thing to get people on your website, but it's another to get them to purchase something. Approaches for this process can vary from business to business, but all successful enterprises have a few methods in common. So how can a company convert website visitors successfully? Nine leaders from Young Entrepreneur Council share some of those successful methods for increasing online sales and why they work so well.
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Reading for pleasure has proven to strengthen muscle memory, boost creativity, improve your mood and much more. It’s important to make time for activities that enrich your mind and teach you new things.
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For many professionals, making a mistake at work can be a big hit to their self-confidence. The scenario can weigh on your mind and cause you to feel like you’re bad at your job or that you’re not cut out for your particular profession. Recovering your self-confidence after a mistake takes some time, but it can be done, and the faster you do so, the more effective you'll be in the future. But forgiving yourself isn’t always so easy. Below, eight professionals from Young Entrepreneur Council discuss how to bounce back after a mistake and how not to be too hard on yourself going forward.
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As a new entrepreneur, you might battle limiting beliefs or unrealistic expectations that you’ve yet to flag or identify. However, as you progress in your business, you’ll learn there are certain ideas and habits you’ll need to shed in order to reach your fullest potential. The first step to doing so, of course, is acknowledging what you must set free. Below, a panel of Young Entrepreneur Council members shared the most important things they gave up in order to advance in their careers. Here's how letting go helped them move forward.
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Effective task management can be quite a challenge for many professionals and businesses, especially when dealing with complex assignments or a large volume of projects, each with its own specific requirements, deadlines and deliverables. Luckily, advances in business technology have created a significant increase in the number and availability of task management solutions. It can, however, be challenging to know which tool to choose, and a user can quickly get bogged down by the number of options in front of them. To help, eleven professionals from Young Entrepreneur Council weigh in on the most effective tools and solutions they've used to get organized and explain what about those solutions helps them stay on track.
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Working from home has become the norm for many professionals during the pandemic. However, not every remote employee has found the ideal way to plan their workday. It can be difficult to focus when handling your tasks from home, especially if there are other family members or distractions present during your working hours. That's why eight Young Entrepreneur Council members offered their insights on how remote employees can best schedule their day. Here’s how you can create a daily plan that promotes productivity and focus.
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From ramping up online offerings to implementing new health and safety protocols, the Covid-19 pandemic has transformed the way people do business—especially for physical retail stores navigating the future of post-pandemic shopping. While it can be challenging for companies to pivot their operations based on customers’ changing needs and expectations, it can also serve as a unique opportunity for growth. To help you thoughtfully transform your in-store experience, 12 members of Young Entrepreneur Council answered the following question:
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Building a brand is an essential part of starting a business. The brand should accurately reflect what the company is, what it offers, its values and more. Along with a brand, however, comes the story that lets consumers understand the “why” behind your company. To help you develop that story, a panel of Young Entrepreneur Council members shared the most important components of a captivating brand story and how to leverage them. Follow their tips to craft a story that will engage your audience and build a loyal following.
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Entrepreneurs can face obstacles from many different areas, but when you’re young and new to the business, there always seem to be extra hurdles to jump over. Both external and internal pressures can wear down on you, and before long, you can start feeling overwhelmed. But these pressures shouldn’t deter you from becoming an entrepreneur, and there are steps you can take to overcome them. Here, eight leaders from Young Entrepreneur Council discuss some of those common obstacles young business owners face and offer their best advice based on their own experiences as young entrepreneurs.
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As it has with many other parts of running a business, technology has granted business leaders the tools that can make recruiting a much simpler process. Today’s tech can help gather and sort applications, offer communication tools to ensure recruiters have a safe and secure location to speak with their potential hires and many of them even provide contract services that can help speed up onboarding. But with so many options to pick from, these recruitment tools aren't necessarily known to everyone. Below, 11 members of Young Entrepreneur Council discuss the most valuable software and solutions they use in their recruitment processes and why these tools help get the right talent into their businesses.
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The face of social media has changed significantly in a short time, and today short video content is dominating user news feeds. While some social media platforms use video as a feature, like Instagram Stories, others, such as TikTok, use short videos as their main form of communication. Businesses can then leverage this content on their own social media pages to help improve their customer engagement and boost sales. To share insights on how to do just that, 12 experts from Young Entrepreneur Council (YEC) answer the following question:
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As entrepreneurs start getting more involved with their businesses, it’s not uncommon that they find there's less time to spend on themselves. Unfortunately, being a successful business owner can often mean spending many hours engrossed in work without taking personal breaks. The result is almost always burnout, which can have negative effects on your health and well-being. But how does an individual take back their personal time? To help, eleven experts from Young Entrepreneur Council offer their suggestions on how entrepreneurs can reclaim some of their time for much-needed rest and relaxation.
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Apr 18, 2021
Writing a business email? Don't hit "send" until you've completed these key steps. Crafting an effective business email has become something of a lost art. More and more professionals are receiving correspondences with misspellings, lack of structure, and unclear content. These poorly-written emails may reflect badly on the sender or even discourage someone from doing business with them. That’s why it’s so important to pay attention to best practices when communicating with business contacts, colleagues and employees via email. Below, a group of business leaders shared their tips for writing the perfect business email and why each is so effective.
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Members of Young Entrepreneur Council share their predictions for upcoming advances in encryption tech. Privacy and security are becoming increasingly important in today’s highly digital business world. With many employees working remotely and technology rapidly advancing, encryption technology will need to advance just as quickly. To that end, 11 members of Young Entrepreneur Council shared what they predict will be some of the next big steps in encryption technology in the near future. Keep an eye on these developments to see what kind of effect they’ll have on privacy and security for you and your business.
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With the increasing awareness of the need for diverse workplaces and teams, diversity, equality and inclusion (DEI) policies have become a pressing issue in the business world. Yet, not every business owner knows where to begin or what to do to ensure their company is hiring for diverse backgrounds and skills. Below, nine members of Young Entrepreneur Council discuss some of the steps a business owner can take to ensure that they have a hiring process that embraces diversity, as well as explain why this is so important to creating a truly successful business.
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Make the decision to make fewer decisions. Making decisions is a necessary and frequent part of any businessperson's day. The decisions they make can have a significant and fundamental impact on their company’s future. However, making those decisions can have a profound effect on the entrepreneur as well. Having to consider each facet of a problem to come up with a viable solution takes significant mental energy — especially when it happens multiple times a day. To help ease some of that decision fatigue, 10 members of Young Entrepreneur Council examine the following question:
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Apr 7, 2021
Search engine optimization is a prominent concern for marketers across all industries and for any business with an online presence. Having good SEO habits is likely to get your website ranked on search engines above your competitors. However, poor SEO habits likely won’t produce the results you’re looking for and can potentially lead to your site getting heavily penalized. To help you cultivate acceptable SEO practices, 13 professionals from YEC discuss several examples of poor SEO habits they've run into and explain why these habits could have a severely negative impact on your marketing.
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Many entrepreneurs learn early in their careers that they are never going to be the best at everything. When it comes to running a business, most entrepreneurs do some things really well but can be terrible at something else. However, strengths and weaknesses are all part of the human condition, and even the most seasoned business owner is not without weakness. However, you can always be more intentional with how you approach your weaknesses. With the right plan, entrepreneurs can shed some light on their weaknesses and work to improve them. To offer a few strategies, eight leaders from Young Entrepreneur Council discuss some of their tips for turning weaknesses into strengths and how that can positively affect your business.
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In addition to the position itself, company benefits are one of the most important elements that candidates carefully consider when gauging whether they want to join a company. Once an employee is on board, these perks can also play a role in whether or not an employee chooses to stay and whether they get the sense that the company values their contributions. To help leaders determine which benefits to offer, 10 members of Young Entrepreneur Council (YEC) explore the following question:
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No matter what type of business you're in, your team will undoubtedly encounter problems with creativity and inspiration sooner or later. It’s difficult for any human being to always be “on” creatively, and these uninspired moments can happen during the most inopportune times. If deadlines are looming and work is piling up, leaders can take it upon themselves to help their teams get reinspired. However, this is easier said than done, especially without the right techniques. Below, eight members of Young Entrepreneur Council examine some techniques they've used to motivate and inspire their teams to reignite their creativity.
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Building positive relationships with your customers is essential to running a successful and sustainable business. That’s why many business owners rely on customer relationship management (CRM) tools to connect with clients and nurture ongoing interactions. With so many options on the market, leaders may not know where to start in their search for a great CRM tool. Below, 15 experts from Young Entrepreneur Council shared their favorite CRM tools and why they’re so effective.
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Whether you’re a business leader or just someone trying to improve their life, surrounding yourself with positive people can be an important part of personal development. Aside from offering support when you most need it, positive people can also challenge you to grow and evolve as an individual, all while giving you the confidence you need to take action. But how do you find these positive people and make them a part of your inner circle? Twelve experts from Young Entrepreneur Council examine some of the steps you can take to locate and attract positive people to stand in your corner and challenge you to grow in both your personal and professional lives.
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For many companies, it’s not always clear whether or not they should be responsible for educating their customers about the dangers of cyber attacks and malware. But as cybersecurity becomes a greater threat, even non-tech companies are considering the best ways to communicate these dangers to their customers. But what's the most effective way to do so, given how complex an issue cybersecurity really is? To shed some more light on this topic, eight members of Young Entrepreneur Council share their opinions on whether or not companies have a responsibility to educate consumers about cybersecurity and list some effective ways to go about doing so.
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Entrepreneurs can come from any background, any place and with any experience level. Yet because entrepreneurs task themselves with starting companies to develop solutions and generate value, it’s vital that they have a specific set of skills that help them get the job done. These skills are a necessary part of the entrepreneur’s tool belt. However, there are some skills that are more valuable than others and some that are highly underrated. Here, nine members of Young Entrepreneur Council examine some of the underrated skills that they think entrepreneurs should cultivate, even if others aren’t.
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Different tactics work for different people, so it’s crucial to find the method that works for you.
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Mar 26, 2021
Devastating occurrences sometimes happen in business without a lot of forewarning. Entrepreneurs can leverage insurance to protect themselves from things such as fire or theft, but there are other less obvious disasters that are more difficult to prepare for. And yet, these negative situations can often be blessings in disguise, pushing the business to regroup, rethink and grow in the process. Below, eight members of Young Entrepreneur Council share some of the devastating occurrences that have affected their organizations and the lessons they learned that helped them move forward and achieve success.
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Good web design can make or break a modern business. If your website is smooth and easy to navigate, it will attract more users and is a vote of confidence for your organization. A poorly designed site can have the opposite effect, turning users away no matter how good the product is. Below, 12 members of YEC shared what they believe is the most important design element to incorporate into your company’s homepage to increase traffic. Try out their recommendations to start bringing in more website visitors.
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Members of Young Entrepreneur Council offer tips for developing effective, sales-boosting e-commerce ads. E-commerce is a great way for a business to boost its sales, especially in today's world of social distancing and online shopping. But with so many businesses gravitating toward e-commerce, the space has become rather crowded. Companies that want to sell online successfully need to maximize their advertising efforts and keep attracting new customers. To help, 12 members of Young Entrepreneur Council shared some effective ways to take your e-commerce advertising to the next level. Follow their tips to keep customers coming in your virtual door, even during your off-season.
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As with other marketing efforts, social media can sometimes be a challenge because it has to balance customer appeal with staying true to its brand promise. But with so many social media platforms, trends and opportunities for innovation, it can be easy to let the brand message get lost along the way. So how does a company keep all of its different social media profiles and content on brand with each and every post? Below, 11 experts from Young Entrepreneur Council (YEC) examine the following question:
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No matter how stressed or busy you get, the right habits can keep you moving forward. As an entrepreneur, you’re going to battle stress, busyness, and likely even exhaustion from time to time. While these episodes might feel discouraging, they’re not permanent, and you’ll be able to push through and find motivation again. The ability to keep up your energy and mental stamina begins with good, healthy habits. Below, a panel of Young Entrepreneur Council members shared habits they adhere to in order to maintain productivity. Try some of their tips to get you through the rough patches in your business.
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First impressions set the stage for how someone sees you. Most human beings draw conclusions about others from the first thing they do or say. In business, that means that initial meeting is especially important. Authenticity in your actions and speech can create a great first impression in many circles, but only if your authenticity isn't forced. To help, 10 members of Young Entrepreneur Council reflect on the following question:
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Video remains one of the most popular marketing formats that companies can use to reach out to their customers, and with so many online platforms adding live video capabilities, more companies than ever are able to interact with their customers in real time. However, as with all content marketing formats, there are many ways to go about creating live video content. Not every approach will be successful for every type of company. To help you determine what’s right for you, eight members of Young Entrepreneur Council examine some specific ways they’d recommend using live video to boost your brand’s following and why these strategies can help your business succeed.
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Members of Young Entrepreneur Council share their favorite resources to help you stay abreast of industry changes. The tech industry is notorious for moving quickly and abruptly. If you want to stay relevant in the field, you’ll have to be able to identify and adapt to changes and new trends. However, keeping up is a daunting task, even for the most seasoned tech professionals. For newcomers, it’s important to build up a collection of reliable resources to help maintain industry knowledge. For guidance on where to start, a panel of Young Entrepreneur Council members shared their favorite platforms and resources to help you stay up to date with industry changes.
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To appeal to today’s on-the-go world, many businesses have considered the value in creating a branded mobile application for their customers. In theory, it's a great idea—but app fatigue is very real, and if you don't want users to delete your app after a few uses, you need to give them a good reason to keep coming back. Many members of Young Entrepreneur Council have experience building and deploying successful business mobile apps, and they understand what it takes to create something engaging and long-lasting. To offer their insights, a panel of members shared some important steps businesses should take when building their mobile apps. Follow their tips to ensure your app becomes a regular habit for those who download and use it.
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Because they often have very limited resources, small businesses have to be intentional about the tools they use. They don’t have the luxury of testing out and paying for expensive software and systems they ultimately may not keep, so it’s important that their chosen solutions are budget-friendly and effective from the start. For these reasons, cloud computing and storage can provide some major benefits for these businesses. With free or low-cost pricing plans available, companies can take advantage of cloud technology to grow their businesses like never before, which is why these eight experts from Young Entrepreneur Council offered some specific and impactful ways that cloud technology can be used by small and medium companies to fuel growth.
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Sensitive information is stored and accessed digitally by businesses every day. While it's a lot more convenient for companies to have data stored digitally, unfortunately this also means these files are more vulnerable to attacks from hackers. Malicious users can gain access to a company’s data in several ways, including phishing, a method which takes advantage of unsuspecting employees as a gateway. However, there are also a number of ways companies can protect themselves and their data from such attacks. Below, nine professionals from Young Entrepreneur Council discuss how companies can guard against these attacks and why every business should make their digital security a priority.
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The world of work has changed significantly over the last year, with many companies moving to fully remote work. With this new environment comes a new way of managing. As teams are physically separated, it becomes even more important for leaders to find ways to bring them together. To offer some ideas on how to build such camaraderie, 11 members of Young Entrepreneur Council share their thoughts on the following question:
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Sometimes, even employees who have a track record of excellent work can have bad days. But when bad days become bad weeks or even months, leaders should take the time to investigate. However, because it could be a sensitive situation, it may be best to take it slow and follow a few key steps. Below, seven leaders from Young Entrepreneur Council discuss some of the first steps they'd recommend taking when trying to figure out why a normally high-performing employee is suddenly off their game and what you can do to help them get back on track.
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Mar 9, 2021
Members of Young Entrepreneur Council share their best tips for combating the discouraging thoughts that plague many entrepreneurs. As you're tackling challenges in business, it can be easy to fall into the trap of negative self-talk. This pattern of behavior, while common, can be extremely discouraging and leave you mentally and emotionally depleted. To embrace your fullest potential, you’ll want to become your own biggest advocate and engage in healthier, more empowering dialogue with yourself. Below, a panel of Young Entrepreneur Council members shared their best strategies for overcoming the toxic, negative self-talk that can hold you back as a business leader.
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Many businesses rely on software-as-a-service (SaaS) companies to help them run their everyday operations. However, with so many specialized vendors, it's easy to lose track of the number — and price tag — of the SaaS providers you're working with. To help, members of Young Entrepreneur Council weighed in on the following question:
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Members of Young Entrepreneur Council explain the tactics they've used to encourage customer downloads of their branded mobile apps. In today's mobile-first world, businesses can get tremendous value from developing and promoting branded mobile apps. It's a great way to reach customers where they are and it provides them an exciting new way to engage with your brand. The problem, however, is that app fatigue may discourage consumers from downloading your newly launched mobile app. They may think, "Why should I download another app on my phone when I can just go to the company's website?" To show your customers your app is valuable and worth downloading, consider these 11 tried-and-true strategies leveraged by the members of Young Entrepreneur Council, who have successfully encouraged consumers to use their companies' mobile apps.
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As machine learning becomes more prevalent in business, it has the potential to affect a company’s day-to-day interactions with its customers, whether positively or negatively. Many businesses have already invested heavily in machine learning and have found great success. However, new tech can always be intimidating, scary or potentially difficult to implement. Below, eight leaders from Young Entrepreneur Council attempt to quell some of those fears by discussing the merits of machine learning and how they see it affecting their own daily interactions with customers. These are just a few things machine learning can do to help take your business to the next level.
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Members of Young Entrepreneur Council offer their firsthand insights on leveraging social media effectively this year. Social media is one of the most powerful tools business owners can use. How you leverage your accounts can make all the difference in terms of your overall success and business growth. As 2021 moves forward, it’s important for entrepreneurs to know how to maximize their social media use to achieve success throughout the year. To help, 15 members of Young Entrepreneur Council use their firsthand experience to share some of their best social media tips for today’s business owners.
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During the interview process, there are some red flags that will be immediately apparent to an employer. Unfortunately, there are also a few of them that may slip by unnoticed, and it's only after the hire starts working that the company realizes they may have made an error. These post-hire red flags aren't the end of the world, though. By approaching the issue proactively and identifying the best way to mitigate any potential damage it may cause, this type of situation can usually be easily rectified. To help, eight members of Young Entrepreneur Council discuss some of the red flags that companies may not notice until later and how business leaders can properly respond to them.
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Between investors, customers, employees and all other people with particular interest in a company, business leaders can have a difficult time trying to please all their stakeholders. But because the performance of a business is directly related to how the stakeholders feel about the company, aiming for overall stakeholder satisfaction is a necessary goal. So what is the key to impressing them? Stakeholders each have their own points of view on what counts as success in the industry. Yet, they still share some overlap, and finding that common ground will be key for any entrepreneur. Below, six members of Young Entrepreneur Council examine some strategies for ensuring stakeholders are satisfied with company performance and explain why these techniques are helpful in impressing them.
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Marketing is a crucial element of any successful business, and even small business startups will need to begin building their marketing department as soon as possible. However, some marketing roles are more critical to your business’s success than others. To help you determine which role you need to hire for first, 13 experts from Young Entrepreneur Council (YEC) answer the following question:
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When surrounded by others, it can be difficult not to compare your successes to everyone else’s. Unfortunately, this competition can lead to stress and can easily create situations where you feel insecure about your path in life. But remembering that success looks different for everyone is just one step to maintaining your confidence. So what are some other ways you can avoid falling into a comparison trap and instead build healthy connections with your peers? Below, 10 professionals from Young Entrepreneur Council discuss some of the tips they’d recommend for avoiding unnecessary comparison with others and successfully connecting with peers.
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Feb 20, 2021
2020 brought a plethora of changes to consumer behavior. Many of these changes will serve as inspiration for new product ideas and functions that will help businesses better serve their customers in the year ahead. In many cases, serving customers better begins with great design. This applies not only to the design of physical products, but to the user experience and interface of digital products. To provide their own expert insight, a group of successful entrepreneurs shared some design trends they expect to see in 2021 and why these trends will be so impactful.
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For many people, it’s challenging to stick to New Year’s resolutions. Only a few weeks in, people tend to abandon their goals and fail to reach the place they want to be. But by following these tips, you should be able to stick to your resolutions and see them come true.
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As an entrepreneur, it’s important to keep an eye on your competition and find ways to set yourself apart from others in your industry. Especially in a saturated market, it's vital to stand out with a strong personal brand. To achieve this, you’ll want to define what makes you and your brand unique. If you’re looking to do this right, follow this advice from the members of Young Entrepreneur Council, who shared eight key steps to take when trying to hone in on your niche.
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Whether through branded content on social media or print ads for specific products, consumers often first encounter a company through its marketing efforts, and reaching target customers both online and offline is integral to a brand’s success today. However, if these strategies aren’t aligned, the messaging at different touch points can be diluted and inconsistent, which could end up confusing consumers rather than tempting them to learn more about the company’s offerings or make a purchase. Below, nine leaders from Young Entrepreneur Council discuss ways to seamlessly unify online and offline marketing strategies and explain why connecting the two is critical to a business’s success.
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If you’re trying to attract highly qualified professionals to your company, it’s likely that they’re mulling over multiple offer letters in addition to yours. To incentivize a top job candidate to accept your offer, you have to find a way to make it stand out. To help, a panel of Young Entrepreneur Council (YEC) members answered the following question:
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Feb 8, 2021
Entrepreneurs often find themselves swamped by work, with little or no time to be mindful of themselves and what is happening around them. Mindful moments aren’t always easy to come by, so business leaders need to take advantage of them when they show up or learn to be intentional about making the time for them. To help you find easy ways to incorporate a mindfulness practice into your daily work routine, 10 members of Young Entrepreneur Council explore how you can be mindful during work and how vital it is in keeping you productive and focused on your tasks.
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Feb 8, 2021
Business advice can come from anywhere, even from those who have never owned a business. But if you’re a new entrepreneur just starting out, you tend to soak up all the information that you can. The most significant problem is there’s no simply way to tell the lousy advice from the good advice. Sometimes experience is the only way to figure out the difference. To share lessons they’ve learned in their business careers, 13 professionals from Young Entrepreneur Council reflect on the following question:
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When heading a company, there are certain budget items that should be of critical concern. Basics like payroll and product costs are easy to figure in to your operational budget. But business is nothing without its unexpected expenses, and there are bound to be a few that CEOs will forget to account for. While you won’t be able to anticipate everything, with the right information and resources, you can avoid a potentially big financial problem. To help, eight professionals from Young Entrepreneur Council offer insight into some of the unexpected expenses that CEOs should look out for and what could happen if they don't.
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Many companies set goals for the year, but can often lose track of them as other problems and priorities arise. Ensuring each department has its own goals to work toward is one way to help prevent this issue. But how can a leader figure out if each department is on track with its goals? Leaders need to determine the most effective way to track department goals and ensure each unit is working in harmony with the others and helping to achieve the company’s overarching objectives. To provide some guidance on how to do this, seven members of Young Entrepreneur Council share valuable advice for leaders who want to track department-specific goals throughout the year, as well as explain why these methods are so successful.
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Entrepreneurs typically have long, nonstandard workdays, with some even working more than 15 hours at a time. Yet even though they may be spending all this time working on their business, there's no guarantee that their days are truly as productive as they could be. Building structure within your workday helps solve this problem. But how does someone specifically go about structuring their day, and what types of elements should be included? To help, nine leaders from Young Entrepreneur Council discuss the workday scheduling techniques that function best for them, and offer some advice on how others can follow in their footsteps.
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Email lists are fantastic tools for keeping in contact with consumers, sharing information and generating leads. But putting together an email list and figuring out how to attract customers to your list can take a lot of time and effort if not done thoughtfully. So how does a company go about creating an email list that will yield a good return on investment? What's the first thing an entrepreneur needs to do to ensure that the list is successful? Here, 11 experts from YEC look at some crucial first steps to setting up an email list that will offer a good ROI, and why these steps are so critical to the list's (and the entrepreneur's) success.
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When a leader leaves your organization, even on amicable terms, it could prompt a significant upheaval in the department that they were a part of. Depending on how intrinsic they were to that department’s function, their departure may even shift the company's operations. For a business to weather this issue, the organization should try to achieve a smooth transition to the new leader. But how does a company ensure that both the new leader and the current staff will successfully adjust to this change? Below, eight entrepreneurs from Young Entrepreneur Council offer their best advice on how businesses can ensure a smooth transition of duties for all involved.
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When a client signs on with your business, they have certain expectations about what your performance will be. The best way to end up with a happy client, however, is to manage these expectations early on. If you don't, and a client feels as though they should have gotten more from your business but didn't, their testimony could severely damage your future business and your reputation. To ensure you don’t end up in this situation, 12 experts from Young Entrepreneur Council (YEC) share their insights on the following question: “What's one rule you'd suggest for better managing client expectations early in a business relationship, and why?” Follow this advice to avoid disappointing your client and instead provide even better service.
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Like a well-oiled machine, businesses can only function if all elements of the company are in sync and working toward shared goals. Getting each department, team and employee on the same page, however, requires a certain level of transparency. Yet, so many entrepreneurs miss this vital detail when it comes to managing their business. Implementing greater transparency doesn’t have to be difficult, but it might not always be clear where to start. To offer some advice, eight leaders from Young Entrepreneur Council discuss how they intend to increase transparency in their businesses this year, and include advice for how other entrepreneurs can do the same.
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Without the support of employees, a company’s branding efforts can only be so successful. It’s when the whole team comes together to promote the business, and your employees have all become effective brand ambassadors, that your business’s brand is able to truly shine. But forcing employees to take part in branding efforts can seem demanding and may not have the same result as when they contribute voluntarily. To offer some ideas on how business leaders can transform their team members into eager, authentic brand ambassadors, 10 successful entrepreneurs from Young Entrepreneur Council answered the following question: What's one specific way you can encourage employees to help contribute to a company's branding efforts? How do you do this without seeming demanding?
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An entrepreneur is only as powerful as the people they surround themselves with. Starting and attempting to grow a business can be a difficult journey, and the sheer amount of outside challenges you need to tackle can be overwhelming. That is why a solid support network is one of the most important things a business owner should create. With the right team behind them, an entrepreneur can overcome almost any obstacle. Below, seven members of Young Entrepreneur Council weigh in on the strategies they use to hire the right people and why those strategies are so vital to building a dream team.
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The goal of any recruitment effort is to find a candidate who would be a good fit for the company. This would mean that the hire would not only be proficient in their role, but would also do well within the specific company culture. But beyond an interview, how can leaders ensure new hires will be the right choice? One strategy is to give the potential new employee a trial period during which you are able to evaluate their performance and personality. Below, nine members of Young Entrepreneur Council share their best tips for how to conduct an effective trial period and ensure you’re setting the candidate up for success.
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Every day, new devices pop onto the scene promising change and innovation. For an entrepreneur who's focused on the expansion of their organization, staying up to date with the latest technology that can support personal and business growth is essential. Whether it’s in a simple or a major way, some of these technologies carry with them the power to change how we do business altogether. Below, eight members of Young Entrepreneur Council take a look at some of the tech gadgets they've acquired recently that they now consider essential to their life or business.
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Inclusion and diversity have certainly become buzzwords in recent years, but they are more than just a passing fad; They are vital elements to a business's success. A diverse, inclusive workforce leverages the knowledge and experiences of a broader cross section of society and helps bring the business closer to the people it serves. However, not all leaders know the best way to promote inclusion and diversity in their businesses, and even some well-intentioned efforts could harm the business in the long run. Here, eight professionals from Young Entrepreneur Council discuss some of the more effective ways you can promote diversity and inclusion in your company and explain how these methods can help any business succeed.
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Members of Young Entrepreneur Council share how to prepare your company for greater integration of artificial intelligence and automation. As modern technology continues to advance, artificial intelligence (AI) and automation are playing an increasingly vital role in the workforce. Routine, recurring tasks are being automated in nearly every industry to save time and money. As we rapidly approach the start of the “AI/automation revolution,” businesses may be wondering how they can leverage this technology to their advantage. To help, the members of Young Entrepreneur Council share 14 ways companies can prepare for this upcoming revolution to maximize their future success.
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Everyone feels down from time to time, even entrepreneurs. Constantly surrounded by others who are seemingly experiencing success, business leaders can sometimes have a hard time reminding themselves of their own potential. This mental hurdle can be a massive one to overcome, but the key to feeling knocked down is having plans and strategies for how to get back up. Below, 11 members of Young Entrepreneur Council share their best tips and personal methods for dealing with this type of negative thinking.
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For many companies, maintaining a high level of engagement and motivation among employees during the dark winter months can be quite a challenge. And with a growing remote work environment, it is even more difficult to make sure your team stays engaged and productive while also ensuring they make time for self-care. To help, 11 entrepreneurs from Young Entrepreneur Council reflect on the following question:
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Jan 22, 2021
Information can be a valuable resource, and having enough of it is key to helping business owners make smart decisions. But lack of information or experience can also have an impact. Even seasoned entrepreneurs have regrets or moments when they wish they had done something differently if they knew at the beginning what they know now. Here, seven members of Young Entrepreneur Council reflect on their current knowledge and business experience in order to share some of the steps they wish they would have taken before starting their businesses.
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Entrepreneurs share their favorite tools, apps, and software for managing and interacting with customers. Connectivity is of the utmost importance in the modern world. In business particularly, social media, email, and other outreach methods have the potential to engage consumers like never before. In such a highly connected society, a business that doesn't leverage these tools for consumer engagement is at a disadvantage compared to its competitors. This is why many businesses utilize several channels of communication to ensure that their customers always feel engaged. But what sort of tools do they use to accomplish that job? Here, 18 members of YEC discuss their favorite tools, apps, and software they use to drive customer engagement efforts and connect with their audiences.
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Communication is one of the most essential skills that a business leader needs to master to be successful. Great leaders may develop their communication skills early on in their careers, but they also have created and maintained habits that help them communicate more effectively. When you watch great leaders address an audience or interact with others, the practices they cultivate to help them communicate so well may not be immediately apparent. Even so, their effectiveness is unquestionable. Here, nine members of Young Entrepreneur Council share the habits they believe all great leaders have and explain why these help make them such powerful communicators.
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Young Entrepreneur Council members look ahead at consumer IoT device trends they expect we’ll see more of this year. The internet of things (IoT) has been a booming sector of the tech industry in recent years. As people are now spending more time at home than ever, the need for connected devices has taken on new importance and relevance. Because of this need, 2021 will likely be the year that consumers and businesses alike upgrade their smart home and office technology. Below, 12 members of Young Entrepreneur Council shared their predictions for which IoT devices will have the greatest impact on the consumer market in the coming months ahead.
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If you’re looking to expand your business, franchising your business could be a great option. Growing a company by franchising can offer many benefits—but you need to be aware of the drawbacks, too. To determine whether or not you should franchise your business, we asked members of Young Entrepreneur Council the following question: What’s one tip you have for business owners who are considering franchising their business?
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Hiring for a senior position at a company usually requires a lot more time and effort than hiring for other positions. In many cases, business owners may have a hard time finding the most effective way to source senior talent for their organization. You don't want to lose out on great talent, but you also need to spot the best talent out of the field of applicants, because making a wrong hire at this level can spell disaster for the organization. To offer some guidance, 13 professionals from Young Entrepreneur Council (YEC) use their own experience hiring for senior-level positions to reflect on the following question: “What's the best recruiting lesson you've learned when it comes to hiring for a senior position within your company? How has it affected future hires?” Here’s a few of their most important tips.
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The dark and dreary months of winter often take a toll on people’s mental health. Thankfully, there are ways to keep your spirits bright through this season so you can stay motivated and inspired in your business and life. As business leaders, the members of Young Entrepreneur Council know that regular self-care can help manage stress and beat the winter blues. Try some of their suggestions to get you through this winter season.
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Finding funding is typically one of the most challenging parts of starting a new business. The risks versus rewards of investing in new companies can usually have investors worried about jumping in. The responsibility is then on the entrepreneur to make their business idea exciting and attractive enough to warrant investors' attention. No matter whether the funding comes from friends, angel investors or venture capital firms, the entrepreneur must have a clear strategy for obtaining this funding. To help, these eight leaders from Young Entrepreneur Council offer some strategies for persuading someone to invest in a new business.
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Members of Young Entrepreneur Council offer some effective ways to keep users coming back to your mobile app. Everyone with a smartphone or tablet uses mobile apps, and businesses have increasingly seen the value in creating their own. However, it’s hard to stand out in crowded app stores where many competitors are doing the same thing. Even if you do get people to download your app, the real challenge lies in getting them to come back and continue using it. To help, we asked 13 members of Young Entrepreneur Council how they recommend engaging and retaining mobile app users. Here are their suggested strategies and why each is so effective.
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Social media is a place for anyone to express their opinions and beliefs, and often that means talking about controversial topics. Sometimes, a business may post something that sparks a heated debate, or its social media followers might bring up these touchy issues on the business’s page, leaving the brand to come up with a response that won't offend or alienate its audience. To help business owners handle this situation tactfully and professionally, we asked 13 members of Young Entrepreneur Council the following question: Whether it's politics during an election year, a major crisis or even just a regular day, controversial topics are bound to come up on a business's social media. What's one tip you have for dealing with these issues, and why does it work?
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Small businesses, like any business, have finances that need to be kept in order. Owners can deal with these duties to a point; however, small businesses tend to grow, and hiring an employee dedicated to keeping the company's finances in check is often a necessary next step. Luckily, many small business owners can hire someone on a part-time basis. This route carries a lot less overhead in terms of time and money compared to hiring a full-time employee, but it also comes with its own challenges. That’s why we asked 11 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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Members of Young Entrepreneur explain how hands-on CEOs can get more comfortable with delegation. When you first started your business, you were likely very hands-on with all aspects of your company. As you've grown and hired people, you may have found that you're struggling to step back and let go of the day-to-day tasks that helped get the company off the ground. While it's good for a CEO to remain involved in their business, it's also important to know when to delegate and start giving more power to your employees. This can be tough for someone who's used to doing everything themselves, but there are ways to practice and get better at handing off business tasks. To help, we asked 13 members of Young Entrepreneur Council to share their best delegation strategies for CEOs who want to empower their teams. Here's what they recommend.
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Now that voice search is on the rise and gaining more popularity, there’s a whole new dynamic to consider when implementing SEO tactics.
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As an executive, difficult conversations often come up in the workplace. It may be something as sensitive as expressing a concern to an employee or explaining why the company's letting someone go. Part of being in a position of leadership is learning how to navigate those conversations. These difficult conversations are part of the territory, and even though it may be challenging to deal with them, they must be dealt with head-on. So how can a professional best deal with these kinds of situations? We asked eight executives from Young Entrepreneur Council about their most successful strategies when dealing with difficult conversations in their daily work life. Here's what they suggested.
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18 entrepreneurs from YEC look at the main reasons why an organization should get insurance. New entrepreneurs sometimes look at business insurance as a luxury, not a necessity. For a lot of small-business owners, business insurance is a gamble -- it covers the business from liability and in the event of property damage, but unless either of those happens, it seems like wasted money. Before a company decides to avoid insurance altogether, the owner must look at what the insurance offers in more than just economic terms. Insurance also deals with how efficiently the business can operate. Businesses that have the assurance that they’re covered in any eventuality may be more inclined to take risks and innovate. Insurance, by design, can help or hinder a business. By focusing on the important details that impact a business’s everyday operation, an owner can determine whether insurance is a crucial consideration for the long-term health of the company. In some industries, insurance can save the company tens of thousands of dollars in liabilities. Some professionals require coverage before they’re allowed to open a firm in some states. If your industry requires that you have business insurance, you will need to examine what each of the providers offer with their policies to ascertain the level of coverage they provide. An additional element that business owners ought to consider is what the insurance covers. Some insurance companies only offer the bare minimum of coverage. Their policies don’t cover damage to assets or the building, and may only offer third-party coverage to individuals the business may have caused damage to. It’s vital that a company that takes out business insurance know what their insurance can cover and whether they may need more than the basic third-party coverage. To help, 18 associates of YEC discuss what a business owner should consider when deciding on business insurance and why these elements are crucial to the decision.
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Onboarding a new employee is an exciting time for any business. While you're eager to get your new team member up and running on their tasks, you also need to ensure they understand the company culture and will mesh with your organization for the long term. That's why we asked the members of Young Entrepreneur Council (YEC) the following question:
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Dec 28, 2020
Facing adversity can help you grow in ways you never imagined. No one likes to think about facing adversity and hardships. However, everyone must deal with challenging situations at some point in their personal and professional lives, especially in the midst of today's pandemic and social climate. Having a strategy to confront adversity head-on can help you be better prepared when obstacles do pop up. To help, we asked a panel of Young Entrepreneur Council members for their advice. Below they share their No. 1 tips for overcoming hardships and why doing so can help you grow as a person.
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Dec 28, 2020
The easiest part of opening a business is coming up with the idea and filing the paperwork. The most challenging part often might not be apparent right away. No leader can predict or prepare for every obstacle they might encounter as a business owner, and hurdles can vary by industry and by each entrepreneur. However, with a little insight from more experienced entrepreneurs and the right mindset, you can successfully guide you and your business through any challenge. Below, eight experts from Young Entrepreneur Council talk about the obstacles they never predicted they’d have to overcome when starting their companies and share ways other leaders can prepare to face similar blockades in their entrepreneurial journeys.
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[LONG FORM EMAILED TO KELSEY] 2020 has been a year of challenges on multiple fronts, from the COVID-19 pandemic, to racial injustice protests, to a highly contentious Presidential election. Businesses have had to contend with rapid changes in consumer behaviors and spending patterns, and many have had to adjust their models accordingly. To stay afloat, business leaders have had to learn to market successfully while navigating this strange new environment. We asked a group of entrepreneurs the best marketing tips they've learned this year and why. Read their insights for some valuable lessons to take with you into 2021.
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Prices can make or break a business, and deciding on what to charge for a particular good or service varies by the company. Finding the "sweet spot" for your pricing takes a bit of market research and a lot of trial and error, especially for new entrepreneurs. Sometimes, their approach to pricing structure can change over time, evolving to account for further information they learn in their journeys as business owners and new key considerations that affect a company’s pricing model. That’s why we asked 12 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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The end of this year is right around the corner, and smart business owners will already be setting up plans and goals for the coming first quarter. Planning helps a business take stock of what it's achieved thus far and what it can hope to accomplish in the first quarter of the new year, given its available time and resources. With proper foresight, a business can set itself up to succeed by making smart decisions and knowing where to invest its resources. Given the challenges we've all faced this year, seeing a tremendous Q1 performance next year will bolster confidence. Below, eight contributors to Young Entrepreneur Council offer valuable advice for planning for Q1 of the new year and explain how they set themselves up to succeed.
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Businesses are in an unenviable position of having to find the most talented individuals in their field and entice them to work at their organization. In many cases, finding qualified candidates has come down to creating the right ads and vetting candidates properly. However, some organizations have refined their candidate sourcing. They've streamlined the process to ensure that they only get those that are already qualified for the position. In such a case, it's just a matter of choosing the most viable candidates. Narrowing down these candidates is a lot easier with filtering early on in the process. Here, 10 experts from YEC explore their preferred methods for locating the ideal candidate for their businesses and explain why those strategies work so well to net them the best individuals for the job.
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Programming is highly in demand in today's digital-first world. Try these tools, courses and platforms recommended by business leaders. Today's world is all about technology, which means people who can develop software and applications are in very high demand. However, many companies that need help with development have found there simply aren't enough qualified programmers to go around. Businesses that are in need of programming talent but can't find or don't have the budget to hire top tech candidates often choose to build the skills of their internal team to supplement their needs. Fortunately, there are countless free and low-cost tools, courses and programs that can help teams boost their programming skills. We asked 15 members of Young Entrepreneur Council to share their top tool recommendations for businesses that want to build programming into their professional development flow.
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It’s a myth that successful leaders never make mistakes – even the best leaders have slip-ups from time to time. It’s crucial to learn from those mistakes so they aren’t repeated and equally important to be transparent with your employees when remedying the situation. The members of Young Entrepreneur Council have made their fair share of missteps in their past and current leadership roles, and they’ve learned a lot of important lessons from those mistakes. Nine members detail their greatest leadership blunders below and what they would have done differently if they could change their actions today.
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Dec 15, 2020
If you've been around the marketing world at all lately, you'd realize how much of a game-changer social media can be for a business. Setting up posts, scheduling them to come out, and engaging with those who follow your social media feeds can help you cultivate your audience. However, you may have noticed that not a whole lot of people engage with your posts immediately after they get published. Engaging people with your social media platform requires a little bit more skill and strategy than just posting regularly. These 12 associates of YEC examine some of the lesser-known or unique ways companies can use to get their followers to engage more on social media.
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Email marketing is still among the most effective ways to target an audience. However, for email marketing to be successful, you need to encourage people to sign up for your email list. This step might seem like a simple task, but recently consumers are extra-protective about their email addresses. Individuals have been flooded with spam and have become a lot more cautious about who they share their information with. Even so, there are a few handy tips and tricks that you can use to get people to trust you enough to give you their email -- most notably by being transparent and showing the value you will provide them with. These 12 experts from YEC discuss some of the most effective methods and take a look at why they're so good at convincing people to sign up for your email list.
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Dec 14, 2020
Communication is one of the core components of a successful business. The leader of said business must be a master of communication to ensure that their wishes are understood throughout the company. When we look at the most outstanding business owners and captains of industry in the recent past, their skill as communicators stands out as one of their defining characteristics. Yet a lot of what these leaders think of as second nature is still a mystery to the rest of us. Here, eight professionals from Young Entrepreneur Council weigh in on the communication secrets of great leaders and offer some anecdotal evidence to support their assertions.
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A company’s valuation relies on the entire economic value of the whole business unit, taking into account investor agreements on how much the company is worth. Finding the sweet spot of your company’s valuation can make or break someone’s decision to invest in your company entirely. We asked 10 members of Young Entrepreneur Council their top tips for determining a company’s valuation prior to fundraising proceedings. Here, they explain why these tips are key to raising a successful round of capital and the future valuation of your business.
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Whether it’s frustration from limitations in their current industry or being shaken by the instability of the job market during COVID-19, many professionals are starting over in their careers, possibly in a new industry entirely. But pivoting to a new industry isn’t as simple as mixing and matching your current skill set and hoping it fits. It’s important to examine how your current skills and experience apply to the industry you’re ready to dive into. To help you, we asked 10 Young Entrepreneur Council members to share strategies for how to do this and tips to convince your future employer you’re qualified to make the switch.
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It’s already well-known that entrepreneurs spend a lot of their time working on getting their businesses off the ground and keeping them solvent. It's not uncommon to hear a business owner working 50 or 60 hours a week. Many of us know how 10- and 11-hour workdays feel and the negative impact this amount of work can have on one’s mental and physical health. To address the issue, busy professionals need to find a way to work smarter and gradually reduce the number of hours spent to run the business. That’s why we asked 12 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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There are several ways your business can take advantage of personalization to increase sales, improve lead generation and more. When you use the elements of your brand that set you apart, you give your customers a reason to choose you over your competitors.
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Everyone online shopper has added items to their cart, only to close out of the website before completing the purchase. This behavior has led to an average online cart abandonment rate of 60% to 80% for many e-commerce sites. Whether consumers aren’t a fan of the price or decide to look elsewhere, businesses must figure out why customers are abandoning their purchases so they can address those issues and encourage completion of the sale. That's why we asked 14 members of Young Entrepreneur Council how companies can lower their online cart abandonment rate. Read on to learn how you can improve conversions on your e-commerce website.
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Dec 2, 2020
16 entrepreneurs from YEC share their favorite sales automation tools and strategies and explain why they work. Businesses have all embraced the reality of a technologically advanced society. Emerging technology has made it easier than ever before to interact with customers and shorten the time it takes to get processes done. A significant amount of businesses have embraced cutting-edge technology because they see it as a way of making their systems more efficient. One of the best examples is the adoption of artificial intelligence bots in customer service scenarios. However, as widespread as this usage is, it's not the only way companies have engaged emerging tech to make their business operate better. Sales automation is another practical use of emerging technology that businesses have managed to latch on to. Automating the sales department requires a bit more involvement, but it covers several different areas. Sales automation covers automatic lead generation and sequencing, development of automated reports using analytics guidelines, and alerts for data coming in that affects the sales process. These areas are crucial in determining the viability of prospects and in generating new leads. Throughout the business community, the idea of sales automation has pushed individual companies to look at many different methods of doing this task. Thanks to the demand, there are a vast number of sales automation tools available for businesses nowadays. We asked 16 experts from YEC to talk about the software suites and strategies they use for sales automation and explain why tools suites work so well for their own companies.
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When you first start your business, every member of the “founding team” -- i.e. you and your first employees -- is crucial to its early success. As your business grows and changes, there may come a time when you feel yourself starting to outgrow your original employees. If you want to retain these valuable employees, you must ensure they’re evolving in their roles with your business. Otherwise, it may be time to phase them out and look for fresh talent. To help you navigate this situation, we asked 10 Young Entrepreneur Council members how employers can assess employee growth and ensure they’re evolving in step with the company.
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Blogging is a great way to share information and valuable content with your audience. It also brings a great chance to send potential consumers your way based on your search engine optimization (SEO). Whether it’s through video content or copywriting, blogging can be an essential tool for attracting potential leads and connections to your business. That's why we asked nine members of Young Entrepreneur Council how to take your blog to the next level and the best way to implement those strategies for maximum effect. Here’s what they recommend.
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LONG-FORM ARTICLE EMAILED TO KELSEY You have a great idea for a startup. You know there's a gap in the market and you have the funds to start financing your business. Now all that's left to do is to land your first customer. Making your first sale as a brand-new company isn't always as easy as it sounds, though -- it requires extensive market research and a deep understanding of what messaging and marketing channels will resonate most with them. If you're embarking on the sales journey for the very first time, it helps to know what methods and strategies other entrepreneurs have used to grow their customer base. Below, seven business owners share their best tips for acquiring your startup's first customer.
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Entrepreneurs can be easily distracted. Whether it's new ideas popping into their heads or the demands of their businesses, distractions abound and can easily steal away your focus. However, in many situations, you'll need to have all your wits and focus on you if you're trying to resolve a problem. Developing a method to maintain concentration when you most need it is crucial to the success of your business and yourself as a business owner. To help, we asked 11 members of YEC what they usually do to achieve uninterrupted focus. Below, they share some of their secrets, as well as valuable advice on how other entrepreneurs could incorporate these behaviors into their schedules, helping them achieve better focus.
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The holiday season is usually a goldmine of opportunities for product-based businesses that deploy specific marketing strategies to make their offering stand out and be relevant for that time of the year. While service-based businesses typically find it more difficult to capitalize on this season’s business opportunities, there are still several creative strategies they can deploy to make holiday marketing work in their favor. To help, we asked 12 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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Nov 18, 2020
When you set out to pitch your idea to an investor, you usually go through the most common questions that they're likely to ask. Discerning investors are careful about where they put their money, but a well-prepared entrepreneur can quickly answer a surprising amount of what they ask. However, sometimes, a businessperson may encounter smart questions that they never prepared to answer. Intelligent questions indicate investors that are on-the-ball, and who could be a priceless addition to your business. Ten members of Young Entrepreneur Council share some of the smartest questions they've gotten from an investor and how they handled them.
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With most people working from home and away from their office’s internal server, data security is a pressing concern for employers. Companies and employees must make security a priority and understand how to keep their data safe when they’re working outside of their business’s secure network. To help, we asked members of Young Entrepreneur Council for their best advice on how to keep corporate files safe while working from home. Below, 12 of them shared their insights for remote workers and employers.
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Innovation is the key to a successful and progressive business, and your staff should constantly be looking for ways to grow your brand. As a leader, it’s your responsibility to keep your workers engaged and motivated. To help you inspire and encourage your staff, we asked the experts of Young Entrepreneur Council about ways to spark deeper thinking. Here are 10 important questions leaders should ask their employees to generate ideas and solutions to problems.
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Members of Young Entrepreneur Council share their best tips for getting things back on track when your business is going through a turbulent period. Every business endures trying times at some point. Your job as a leader is not to prevent every possible issue that might arise, but to properly prepare so you can keep your footing when unexpected challenges inevitably occur. To help you, we asked 15 members of Young Entrepreneur Council how leaders can regain order among their team and operations during a chaotic time. Here’s what they recommend, and why it’s so effective.
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LinkedIn is often thought of as the go-to social network for professionals, but it’s more than just a social media platform. It’s a powerful marketing tool for brands to engage with customers, employees and business partners. With new features such as live video, polls and team moments, LinkedIn is offering innovative ways to foster engagement and share content on its platform. We asked the experts of Young Entrepreneur Council how business owners and other professionals can best leverage the platform's new tools. Follow their tips to up your LinkedIn game in 2021.
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A website can be a critical marketing tool as long as you manage to keep your audience engaged. Marketing can drive traffic to your website in several ways, with video, text, or image content. But once they get there, how do you keep them there? Website analytics uses a metric known as "bounce rate" to figure out how many visitors to the site remain there and how many leave within a few seconds of their visit. And if the bounce rate is high, you can be certain your website isn't engaging enough. To help, we asked nine members of YEC to share their best strategies for making a website more attractive and engaging to incoming visitors and explain why these techniques are so successful. Here’s what they had to say.
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It's often said you only get one chance to make a first impression, and that holds true for your company website. The visual appearance and written copy on your sign-up and landing pages must be compelling enough to grab a visitor's attention and convince them to take the next step in their relationship with your brand. This can be easier said than done, so to help, we asked 16 members of Young Entrepreneur Council the following question:
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A business is only as good as its employees. In order to thrive, you have to ensure our workers are on the same page and willing to grow with you. A truly loyal team will stand with your business during the ups and downs and dedicate themselves to the business’s overall success. To help you build a team that's in it for the long haul, we asked the members of Young Entrepreneur Council for their advice. Below, they shared nine simple ways leaders can earn their team's loyalty.
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Nov 2, 2020
Staying motivated as an entrepreneur takes a lot of effort. In several situations, business owners find themselves struggling to point themselves in the right direction, whether in their profession or in their personal life. In both of these cases, your inspiration dictates the drive you have to accomplish your goals. But how do you know when you or someone in your team might need a boost in motivation? What happens when you lose that compass that points to success? Here, 13 members of Young Entrepreneur Council share some of the clear signs that someone might need a motivation boost and discuss the best methods to deal with this lack of direction in business or personal life.
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As a business owner, it’s important to know who your competitors are so you can keep up with the market. However, it’s just as beneficial to show your support for other small businesses, regardless of their industry. This is especially true in today’s economic climate, when many entrepreneurs are struggling to stay afloat. We asked members of Young Entrepreneur Council why it’s important for small business owners to support one another and how to do it. Here are 10 practical ways they recommend lifting up your fellow entrepreneurs.
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No matter how diligent a person is, they will, at some point, receive negative feedback in their career. Whether it’s an unsatisfied customer, an upset manager or a tense situation with a colleague, you can’t make everyone happy 100% of the time. But negative comments don’t mean you’ve failed. In fact, you can use them as a learning tool and an opportunity to build a positive outcome with the other party. To help you do this, we asked members of Young Entrepreneur Council their strategies for responding to negative feedback the right way. Their best responses are below.
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Members of Young Entrepreneur Council share some creative ideas for tech companies that want to leverage more user-generated content. Many businesses have realized that user-generated content (UGC) is a simple and low-cost way to increase online engagement and brand awareness. Strategies for leveraging UGC may seem fairly obvious for businesses with a physical product – it’s easy to share photos of customers wearing an item of clothing or using a product in their home. However, tech companies may need to get a little more creative in how they incorporate content from their users. To help you, we asked 13 members of Young Entrepreneur Council for their insights. Below they shared some effective ways tech companies can leverage user-generated content.
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Taking risks is always intimidating. It can be scary to leave comfort and safety behind and leap toward a potentially difficult and life-altering decision. But anything worth having rarely comes from taking the easy path. To inspire you to take that "big chance" you've been dreaming about, we asked 10 members of Young Entrepreneur Council about the biggest career risks they’ve ever taken. Below they shared their stories about what happened and what they learned from following their instinct.
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A loyal community of followers can help your brand and business grow.
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Assess your current situation and fill the cracks.
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Members of Young Entrepreneur Council share the upcoming technology trends they're most excited about and how they plan to jump on board. No matter what industry you work in, staying on top of the latest tech trends can give your business a competitive edge. By implementing cutting-edge technology, you'll not only streamline your processes, but also differentiate yourself from your competitors. As successful business owners, the members of Young Entrepreneur Council stay on top of the latest business trends, including those in tech. Below, they share 12 big tech trends they’re most excited about and how they plan to leverage them. Follow their recommended steps to take advantage of these trends, too.
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There's some merit to the adage of working hard to play hard. With workers devoting their all to a business, especially when it's just getting off the ground, it can be easy for them to lose sight of their need for relaxation. Therefore, it is up to the leaders to intervene and help employees realize that their peace and mental health are just as important as the valuable work they do. Employees that relax and take things in stride are less likely to experience burnout or have emotional breakdowns. Here, eight leaders from Young Entrepreneur Council offer sage advice on how to encourage employees to take time off for relaxation as a core element of keeping them motivated and functional.
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Members of Young Entrepreneur Council offer suggestions for entrepreneurs that want to change up their mobile ad campaigns. Mobile web traffic continues to skyrocket as consumers spend more and more time on their smartphones and tablets. Approximately half of worldwide web traffic comes from mobile devices, so it makes sense that brands would want to focus on mobile-optimized ad campaigns. But success in mobile advertising is about more than creating visuals and video content that fits on a mobile screen. It's important to follow the right practices and create an enticing experience for viewers and potential customers. Below, 14 members of Young Entrepreneur Council shared some simple changes entrepreneurs can make to their mobile ad strategy to improve their results.
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Oct 15, 2020
Being able to close a deal is a crucial part of an entrepreneur’s skill set, but sometimes, vendor agreements and partnerships can fall through due to unavoidable circumstances. Knowing that a deal is about to fall through before that actually happens can be quite beneficial for a company, as it gives the opportunity to choose its next steps in advance: pursue the agreement more aggressively, back off and let it fail, or do nothing and see if it corrects itself. However, before the business can take any action, it must be able to identify the telltale signs of a deal collapsing. To help, we asked 11 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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Oct 12, 2020
Everyone wants to be successful, but not many people understand what success brings with it or what it means exactly. Success is a personal thing -- where one person may see achievement, another may see settling for what they can get. Success is a goal, and there are many roads to get there, but not everyone's version of success is the same. So, while typical entrepreneurial resources such as business books or self-development webinars might offer a textbook definition to success, there's a lot they leave unsaid when it comes to the personal aspects of succeeding. Below, 11 experts from Young Entrepreneur Council share some of the things they see in successful professionals that no guide bothers to explain when you're on the road to success.
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These 20 entrepreneurs from YEC discuss their favorite market research tools and why you should be using them. Without a proper view of the market, a business has no chance to resonate with the consumers most likely to buy their product. In the past, the best way of interacting with consumers was to simply put out an ad in the most-seen public medium at the time and hope it would land on fertile ground. Thankfully, the approach has changed in modern days, and now we have a lot more tools to offer us in-depth insights into what our ideal customers like and dislike. Using this as a basis, we can adapt our marketing attempts to appeal to those customers. The question now is, how do we obtain that data? Market research tools go hand-in-hand with e-commerce and internet marketing. Visitors to a website provide the best and most accurate picture of the kind of people the website already attracts. Using this data as a baseline, a business can feed it into an analytics engine and get back valuable information about the kind of customers already coming to its site. Based on those results, the business can then adjust its marketing push to reach out to a broader demographic or drill down into converting more of those visitors to buyers. There are many layers that marketing data reveals that can be priceless to a business looking to raise its conversion rates. Today, a business that doesn't depend on market research to guide its advertising and marketing is at a distinct disadvantage to other companies that do. The companies that make the best use of available tools will be more successful in reaching out to their ideal customers. Here, 20 associates of YEC discuss their favorite market research tools and explain how those solutions can help any business achieve its marketing goals.
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An effective internal communications strategy is essential when trying to build a cohesive team working together toward the same goal. Especially when it comes to announcing important news to your team, using the right internal communications approach is of utmost importance. The right communications strategy ensures the communicated message is clear and easily understood, leaving no room for error. That’s why we asked 15 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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Artificial intelligence is an extremely valuable tool that can save your business time, energy and money. However, implementing AI can be a big challenge for any company. From choosing the right AI-powered tool to setting up the right data inputs and workflows, the process of adopting AI can be stressful and cumbersome, especially if you’re unfamiliar with the inner workings of this technology. To help you, we asked the members of Young Entrepreneur Council how they’ve overcome some of the biggest hurdles of employing AI in their business. Their best responses are below.
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A truly timeless brand sticks with people for a long time, no matter how many trends emerge or how the world around them changes. Not every business ever reaches this stature, but it’s something your brand should work and strive toward if you want to be memorable. To that end, there are a few steps you can take to make your brand feel timeless as you’re developing it. We asked members of Young Entrepreneur Council to share the key to creating a timeless brand. Here’s what they had to say.
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Members of Young Entrepreneur Council explain which qualities a hiring manager should seek out in a senior creative director who's working on both print and web campaigns. The right senior creative director can have a huge influence on your business’s marketing and ad campaigns. When seeking someone for this role, it’s important to consider whether they have the right skills to bridge the print and digital gap: If they came from the print world, their thought processes and experiences may be different than someone who’s only worked in digital communications. That’s why we asked 11 members of Young Entrepreneur Council what specific traits and qualities to look for when you’re hiring a senior creative director who will be working on both print and web campaigns. Here’s what they believe you should seek out, and why these qualifications are different than if the creative director were hired for one media type over the other.
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Many companies that shifted to remote work during the COVID-19 pandemic have helped employees eliminate their daily commute. However, some professionals do still need to make regular trips into the office – and spending time commuting to work can feel stressful and counterproductive. If you use your time wisely, though, there are plenty of ways to maximize your commute and make it a productive one. We asked 10 members of Young Entrepreneur Council how they maximize their commute time and how it helps them in their professional and personal lives. They shared their insights with us below.
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Young Entrepreneur Council members share some upcoming tech trends they believe will have an important impact on business leaders. The world of technology is evolving faster than ever. With so many new tech trends emerging, it can feel impossible to keep up with them all. However, identifying and investing in the right ones can give your business a competitive advantage and set you up for success. That’s why we asked members of Young Entrepreneur Council what tech trends more entrepreneurs should prepare for and what concrete actions they can take to move in the right direction. Their best answers are below.
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Members of Young Entrepreneur Council discuss some of the past year's most pressing technology concerns and how we should address them. The past year has seen unprecedented changes to public health and the global economy. Many facets of daily life and work moved into the digital realm, and the shift highlighted some underlying business technology issues that are getting in the way of productivity, communication and security. As successful business leaders, the members of Young Entrepreneur Council understand how important it is to have functional, up-to-date technology. That's why we asked a panel of them to share what they view as the biggest business tech problem of the past year. Here are the issues they're concerned about and the innovations they believe will help solve them.
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When a business advertises for a position, you can be assured that there will be a flood of applications coming in. If you're a young entrepreneur with a small company, you'll be doing most of the application sorting yourself. The first step is determining which applications suit the character, demeanor, and qualifications you're looking for. Unfortunately, not everyone has the time and budget to dedicate to this kind of task. Luckily, there are ways to speed up your sorting process while still allowing the most suitable applications to go through to the in-depth perusal stage. Eight contributors to Young Entrepreneur Council examine the techniques they use to sort applications when they have limited time and budget.
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With each passing year, demographics change. Where a company's core demographic might have been millennials a few years ago, today it's shifted to Generation Z. Unfortunately, there's a marked difference in values between generations, and businesses need to revamp their marketing strategy to reach out to their newest client base without alienating their other followers. If the wrong strategy is applied and a company’s messaging reaches the wrong part of its audience, it can cost the business valuable sales. To help avoid such situations, these 11 entrepreneurs from YEC share their insight into how companies can reach out to their Gen Z audience while remaining marketable to their existing clientele.
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Members of Yount Entrepreneur Council offer their tips for effectively growing a service-based company. As a service provider, you’re always looking to grow your client base. But service-based businesses can be trickier to scale than a product-based business. It’s not as simple as completing a transaction; service relationships must be nurtured and built over time, and more sales mean more clients to pay attention to. To help you effectively increase your service-based business’s sales, we asked members of Young Entrepreneur Council for their advice. Below they shared their best tips for founders who are looking to scale up without sacrificing quality.
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Sep 29, 2020
If you're like the hundreds of content marketers out there that have invested in blog content, you want people to read it. If you've been watching your metrics for visits, you might realize that many visitors don't even bother with your blog. Sure, they might follow a social post from your media to your blog, and possibly read a single entry, but they won't engage further than that. So how do you get readers to come back to read about the amazing things you post? These 15 professionals from YEC expound on the methods that work for them to get return visitors and further explain why those techniques are so successful at maintaining user engagement.
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Social media following is an integral part of executing a successful marketing strategy. Engagement on social media is far higher than other channels. However, despite their constant presence, social media networks aren't the only way for a company to do outreach and connect to their core audience. Several other companies have delved into different methods of connecting and advertising to their core audience -- with surprising results. We asked 12 entrepreneurs from YEC to help us understand what nontraditional media channels they've seen work, and why those strategies were so beneficial to the parent companies.
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For online businesses, a high-performing website that encourages engagement and conversions is the key to successful growth. It often takes time to build up a steady stream of website visitors and consistent buyers. However, there are some things you can do to help accelerate the process. If you want to scale your site visits and engagement, try these 13 growth hacks recommended by the experts of Young Entrepreneur Council.
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If your company has a blog and social media presence, you know how challenging it can be to keep up with the constant demand for new content. Recycling and updating existing content is a great way to put a fresh spin on what you’ve previously published without the hassle of coming up with a brand-new idea. However, there’s an art to repurposing content: The best brands don’t just copy and paste across platforms; they recontextualize their content and adapt it before reposting. To help you do this, we asked 15 members of Young Entrepreneur Council for the best ways to get more mileage out of their online content. They gave their tips below.
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Whether you’re job hunting or starting a business, it’s important to play to your strengths throughout your career. By zeroing in your natural interests and aptitudes, you’re more likely to find the right opportunities and achieve success. That’s why it’s a good idea to continually refine and improve upon your core strengths. To that end, we asked members of Young Entrepreneur Council how they recommend capitalizing on those existing strengths and making them even stronger. They shared their best strategies below.
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17 leaders from YEC share the tools and processes they use and why they work. In the digital age, a company not tapping into automation is losing time and productivity. Relying on human contributors to produce content is still the best approach. However, in distributing this content, automated processes, tools, and strategies are always more efficient. In marketing, efficiency means a better return on investment because it speeds up turnover time and costs less than manual methodologies. Companies can ill-afford to waste time on manual methods when automated means of getting the message out to an audience exist. In the world of marketing, time is money. Automation utilities save time, and as a result, increase the company's ROI on their marketing budget. How does a business automate its marketing? Some entrepreneurs think automation is complicated, requiring a long process of learning how to use new tools. Others fear it requires adding a specialized IT department to their company, which might be a considerable upfront cost to the company. Neither of these things is true. In fact, some of the best automation tools that you need to use are both simple and cost-effective. Even those with an associated price tag usually pay for themselves in the savings the business makes through its automation. Automation doesn't have to be a scary, unknown landscape. To help, we consulted 17 entrepreneurs from YEC about the marketing automation tools, strategies, and processes they utilize to make life easier and increase their marketing ROI.
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Having the right clients can make all the difference in your business’s success. Of course, finding those ideal clients isn’t always easy. You don’t want to be too selective and turn down a good business opportunity, but you also don’t want to overextend yourself for a client who won’t stick around in the long run. We asked members of Young Entrepreneur Council how they’ve managed to attract -- and more importantly, keep -- the right clients in their roster. Here are their best strategies.
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Today's world is more stressful than ever. The fast-paced, always-on environment many of us operate in is enough to cause anxiety among even the most organized leaders. Throw in the current global pandemic and an economic recession, and it's no surprise that many people are experiencing doubts and fears in their personal and professional lives. While stress is an inevitable part of life, it doesn't have to consume you and get in the way of your success. That's why we asked 15 members of Young Entrepreneur Council how they manage to overcome the mental and emotional stressors of living and working in the modern world. Try their practical, actionable strategies the next time you're feeling overwhelmed at work or at home.
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Sep 21, 2020
Entrepreneurs should all know by now how nerve-wracking delivering a pitch to investors can be. If you've invested a lot of your time and effort into designing a business idea, you want to get the point across to investors effectively. As with anything, practicing your delivery can go a long way toward making a steadier presentation. That’s why we asked 13 successful entrepreneurs from Young Entrepreneur Council (YEC) the following question:
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Sep 18, 2020
When people know who you are and continue getting to know your brand and its values, they’ll slowly build your customer base.
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The entire marketing world knows how powerful a well-funded social media campaign can be when growing a brand image. It can be challenging for smaller entrepreneurs to determine how much money should go into this part of your marketing, as there are several dozen social media channels that you can invest in. How do you determine how much money to dedicate to one or more of those social media accounts? Social media has made interacting with customers a lot easier, which means the considerations compared to traditional digital marketing are different. Below, eight members of Young Entrepreneur Council explore the critical elements they consider when allocating their social media budgets, and offer advice about budgeting effectively as a small-business owner.
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expert panel
Motivation works cyclically. There are moments when you feel as though you can take on the world, punctuated by moments when you feel like it makes no sense to do anything. If you've been feeling unmotivated at work recently, you're not alone. Workers worldwide go through the same moments of "boom and bust" when it comes to their motivation. However, one of the hallmarks of a successful entrepreneur is to power through those feelings. The success of an enterprise hinges on its leader being able to escape the doldrums and remain focused throughout their projects. Here, 11 associates of Young Entrepreneur Council share some of the methods they use to remain motivated and stay at the top of their game as industry-leading entrepreneurs.
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Young Entrepreneur Council members share some of the most exciting trends and developments they've seen in digital marketing this year. Digital marketing is constantly evolving, and professionals must stay on top of trends to remain competitive in their respective industries. This year in particular has presented new and unprecedented circumstances for businesses around the world. As a result, companies have had to adapt their digital marketing strategy to customers’ ever-changing needs -- which, while challenging, has also led to incredible innovation. We asked the members of Young Entrepreneur Council about the most exciting digital marketing developments they’ve seen this year so far. Below, they share 14 of their favorite trends and how they’re impacting the future of the industry.
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No other feeling comes close to hitting the ball out of the park for your investor pitch meeting. Unfortunately, many business owners see these small wins as overcoming the largest hurdle. The truth is that nailing the investor pitch is only the first significant hurdle. Once you get the right eyes on your project and have them interested in what you're doing, you need to follow up and keep the momentum. But what is the first thing an entrepreneur should do after landing the pitch to a potential investor? We asked seven contributors to Young Entrepreneur Council what their first step after landing their pitch is, and why they take that road. Here's what they told us.
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expert panel
When you’re overworked, it’s easy to burn out. The extra hours and workload can cause you to become stressed and ultimately less productive at work. While burnout can have a negative impact at any job level, it’s especially detrimental to executive leaders, so it’s important to understand how to reverse this feeling when you’re stuck in it. To help you, we asked the members of Young Entrepreneur Council to share some recommendations for getting back on track when you feel burned out. Here are their top strategies for executives who need to reset.
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expert panel
Disagreements and conflicts are inevitable in the workplace. As a leader, it’s your job to mediate any issues between workers so your company culture remains positive and productive. However, this is often easier said than done: It takes a truly empathetic and effective leader to listen to each side and help both parties come to a mutually-beneficial solution. To help you, we asked Young Entrepreneur Council members about the most effective ways to confront conflict in the workplace. Here’s what they recommend.
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Members of Young Entrepreneur Council explain how companies can optimize their mobile shopping experience. As every successful business owner knows, it’s important to meet your customers where they are. In today's world, that means creating a top-notch mobile shopping experience. The majority of e-commerce traffic (65%) comes from mobile devices, so optimizing your sales page for mobile is crucial to keeping your business thriving and accessible to your audience. Below, a panel of Young Entrepreneur Council members shared tips for creating a mobile-first e-commerce experience. Follow their tips to ensure your customers will love shopping with you, no matter what device they're using.
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Congratulations! You’ve just had a great pitch meeting with an investor. But holding an investor’s attention during your pitch is only the beginning of securing a deal. The real challenge lies in staying top-of-mind afterward. To ensure a lasting good impression, you’ll want to keep the conversation going with investors post-pitch. A panel of Young Entrepreneur Council members shared effective ways to continue the discussion after your meeting.
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expert panel
Many businesses see a major shift in their success once they establish a website that lets them provide new information and tools to their customers. However, some may see even greater success if they develop a mobile app. But how do you determine whether an app is right for your business? And once you make that leap, how do you decide what to put on the app? To help you answer these questions, we asked the members of Young Entrepreneur Council to lend their expertise. They share 10 clear signs your business needs a mobile app, as well as how to figure out your app’s must-have features.
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Once seemingly confined to the spheres of gaming and technology, virtual reality (VR) and augmented reality (AR) are becoming increasingly common in both personal and professional ventures. In fact, VR and AR can be used to great effect in one’s personal branding strategy, especially if it's giving your audience a deeper connection or more intimate look at your business. As successful business leaders, the members of Young Entrepreneur Council are on the pulse of the latest industry trends and technologies. Below, they share nine high-impact ways you can incorporate VR and AR into your personal branding.
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Businesses thrive on interaction with large clients. They form the most significant inflow of money to the enterprise and help you meet your obligations from month to month. With so many companies closing down, it's not far-fetched to think that one of your massive clients might face bankruptcy. When that happens, you will need to have a clear plan in place to recover any overdue payments and soften the blow until you find new customers. That’s why we asked 12 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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Free advertising has leveled up, as there are now more alternatives to paid ads than ever. The world's economy has taken a massive hit, which means that companies will be looking to cut down on different expenses to stay afloat. Unfortunately, many of these businesses will look at their advertising budget when considering what to cut. While advertising can be a significant expense to a business, it's necessary if the company intends to reach out to new and existing customers. Eradicating advertising could spell disaster for a company, but luckily, there are ways to reach out to clients even if you cut the ad budget completely. Several channels exist that businesses can explore that give them a chance to advertise without the added budget. Many companies overlook them because they associate "free" with "low quality," but that isn't necessarily the case. Businesses concerned about spending on marketing and advertising should explore these channels since they offer a unique way to interact with clients. Even if your advertising budget hasn't been slashed, these channels still provide massive value for money if you use them right. Twenty associates of YEC discuss some of the best channels and explain how they can help boost the signal of an advertising campaign, even though they cost nothing or very little to use.
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Improve user engagement, grow your audience and boost conversions with valuable live video content.
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Businesses are increasingly focusing on wellness in the workplace to increase employee productivity and overall satisfaction. Choosing a wellness program for your company is an important first step, but you’ll also need to ensure that it runs smoothly and that your employees get the most out of it. We asked the members of Young Entrepreneur Council to share their best strategies for leaders looking to successfully implement wellness programs in their organizations. Below, they share 10 ways you can ensure your company’s initiative goes off without a hitch.
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For many growing teams, in-person leadership conferences have been the go-to method for training and developing the organization's future leaders. In today's world, though, there's a lot of uncertainty around when these types of conferences might return. In the meantime, business leaders are finding other ways to encourage virtual or self-led leadership development among their staff members. We asked a panel of Young Entrepreneur Council members to recommend their most effective strategies for training leaders, even without in-person conferences. Here's what they had to say.
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Building your brand is an important part of running a business. To truly connect with your audience, you must define and express who you are and your goals as a business. Often, the best way to do this is by telling your story. Your brand story encompasses your journey to and reason for starting your company, and the way you tell it can greatly impact the way consumers view your brand. We asked members of Young Entrepreneur Council to share some strategies for communicating your chosen brand story to your audience. Here’s what they had to say.
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Being part of a creative team is an exciting job. However, it’s difficult to always be in an innovative, inspired mindset. Often, creatives experience burnout and roadblocks that hinder their performance. To help you stay inspired, we asked the members of Young Entrepreneur Council to share some unconventional ways content teams can create fresh content that will engage their audience. Their best answers are below.
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Entrepreneurs have some bad habits, one of which is not knowing when they need a break. With many young entrepreneurs, it's almost impossible to take a step back and relax. Yet studies have shown that entrepreneurs that don't take time out to smell the roses risk serious health problems later on in life. The goal of being a successful yet happy businessperson is knowing how to distance yourself from your business. Summer vacations are crucial in ensuring you keep your perspective. That’s why we asked 11 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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17 professionals from YEC share the best websites for locating fresh talent. There has been a change in how companies approach the idea of outsourcing. In recent years, businesses have grown less fond of doing everything in-house and more open to hiring freelancers to lend them a hand. This new reality in the world of employment has spawned a massive explosion of websites that cater specifically to professionals providing talent to companies. Searching for local expertise, in particular, can help to enhance the region and support the local community. Additionally, local contractors are easy to get in touch with, either though message or by direct phone call. Occasionally, you may need someone familiar with the region you're operating in, which is why outsourcing to a local freelancer is the right call. Many companies overlook local talent because they have the misconception that imported talent is automatically better. Knowing where to look to find the best in local talent might encourage you to reconsider your opinion on hiring locals to work for your company. Many of these websites offer businesses access to a wide pool of qualified candidates, as well as the possibility of fine-tuning their search so as to identify the most relevant candidates. Filters you can get access to include the location (for local or regional talent), ratings, and expertise. All of these are critical factors in determining whether a freelancer or professional will fit the business's needs. However, not all of these websites are built in the same vein. Seventeen professionals from YEC share valuable advice on the best websites for finding outside talent -- local or not – and explain why those resources are vital to their own businesses.
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Aug 10, 2020
Switching a “bad” habit for a good one is not always the best option. We all have bad habits or simply attitudes or routines we would like to change because they are not healthy for us. While not all bad habits are truly bad, it’s important to be able to discern what needs to change for us to advance in our personal and professional life. The internet is full of advice and tips from self-proclaimed gurus on how to shake off a bad habit, but that doesn’t mean their advice works for everyone. Changing your habits is a huge step to take, but before embarking on this journey, you need to become aware of the most common pitfalls and misconceptions of effecting this kind of change. To help, nine members of Young Entrepreneur Council look at the most common misconceptions and why they may impact your ability to successfully change habits.
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Business advisers have the potential to be instrumental to a company's success. Unfortunately, not all business advisers make a positive impact, and it's up to the entrepreneur to decide which adviser they want to work with. The selection process should be as rigorous as staff selection, but should mostly focus on the adviser's previous successes. Who were their past clients? How did those partnerships turn out? These questions set the stage for expectations and temper out personal feelings toward the adviser. Here, eight associates of Young Entrepreneur Council offer their best advice for choosing an adviser that would benefit one’s business.
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No business’s recruiting process is the same, largely because of the fact different organizations look for different things in their candidates. Each company has a particular skill or set of abilities it values above others. However, even though individual industries value different things, some skills transcend the boundaries of field and discipline. When hiring employees, businesses would do well to focus on these essential skills as the dividing factor to separate the candidates that will distinguish themselves from everyone else. But what are these vital abilities? Below, eight members of Young Entrepreneur Council explore some of the critical skills all employees should have, regardless of industry, and explain why these traits are so important.
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In today's world, every business knows that consistent, quality content is the key to engaging consumers. Publishing giants like BuzzFeed have mastered the art of drawing people in with engaging headlines and interactive features, and encouraging repeat visitors with well-researched, valuable articles. While the average business likely doesn't have the need or the resources to publish dozens of daily pieces like BuzzFeed, there's value in striving to become a publishing powerhouse that meets consumers' desire for a steady stream of content. That's why we asked the members of Young Entrepreneur Council what companies can learn from these media conglomerates that garner tens of millions of unique daily visitors. Here are a few publishing lessons and tips they believe business leaders can benefit from.
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A marketer's job is a challenging one in today's always-on, digital-first world. Not only do they have to come up with an appealing brand image and message, but they have to figure out how to adapt marketing collateral to countless different channels and learn best practices for each one. To keep up with the demands of the modern marketing industry, professionals should consider adopting and incorporating certain habits into their workflow. We asked 10 members of Young Entrepreneur Council what habits they recommend marketers pursue to help them boost their career. Here's what these experienced business leaders had to say.
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When you're negotiating a deal, misinterpreted tone or poorly-chosen words could ruin an otherwise-successful conversation. Sometimes you may not know even which phrases might turn a deal sour. That's why we asked 16 members of Young Entrepreneur Council the following question:
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These tools and strategies can make email marketing more efficient and less time-consuming. Email marketing is still a handy outreach method for businesses. It offers something unique in how companies can interact with their clientele. The big problem many companies have with email marketing is how much time it takes up from its staff. But does email marketing have to be that time-consuming? One of the things that businesses have realized over the years is that anything which used to take time can become more efficient. Email marketing isn't an exception to this rule. Where research meant digging through tons of questionnaires and noting results, today you can simply access an automatically-compiled list of preferences, sorted by an algorithm. These lists enable businesses to develop targeted, personalized emails that resonate with their target audience. These tools are only the tip of the iceberg, however. As more and more companies are looking into developing personalized marketing techniques, research needs to finish faster than ever before. Specialized tools and software exist to help businesses realize results more quickly. However, many companies are still in the dark about how they could streamline their email marketing to take up less time. We asked 17 thought leaders from YEC their take on the best tools and strategies to make email marketing a more efficient enterprise. Here's what they had to say.
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Within an organization, some skills are far more valuable than others. If your business is looking at hiring new employees, then these skills should be a primary focus for your interviews. Knowing what skills are crucial for an enterprise to grow and thrive helps you figure out if an employee may be worth hiring, even if they don't fit the ideal. Sometimes the company needs more than just the right qualifications for their employees. That's why we asked 16 professionals from Young Entrepreneur Council (YEC) the following question:
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Great leaders don’t simply tell their team what to do; they lead by example and “walk the talk.” Staff members are much more willing to listen to instructions and respect leadership if their boss is doing the same. So what behaviors are best for encouraging strong work ethic, relationship-building and leadership development? We asked a panel of Young Entrepreneur Council members what habits leaders can adopt to set a good example for their team. Read on for their best recommendations.
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Every job candidate’s goal is to stand out from the rest. However, it’s not enough to talk about your education and work experiences, which may be very similar to other qualified applicants. Great candidates shine by saying things that are truly unique. To help you stand out, we asked Young Entrepreneur Council members to share some memorable things past candidates have said that really impressed them. Be sure to bring up these 15 things in your next job interview if you want to make a great impression.
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Electronic wearables were an exciting new concept just years ago. Now, they’ve slowly become the norm, with gadgets like smart watches and sleep trackers overwhelming the market. These devices collect personal data and monitor things like increased heart rate, steps taken and hours slept. But just how long will they remain in consumers' good graces? We asked a panel of Young Entrepreneur Council members about their thoughts on what might derail the wearables revolution. Here’s what they had to say.
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Ensure your customers feel safe shopping with you and on your site.
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Business legal matters can be intimidating, but these tools can help you understand and streamlining the process. Starting a business means dealing with some standard legal matters, like registering your business and complying with tax regulations. This can be overwhelming for new entrepreneurs, especially if they're not familiar with these legal processes. While it's always advisable to consult an experienced business attorney, there are countless resources and online tools available that make it easier to find the information you need. To help you, we asked the members of Young Entrepreneur Council which tools they recommend to make the legal side of business less intimidating for small business owners. Try one of these suggestions when you're faced with common business legal tasks.
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Running a business is not easy, especially as a young entrepreneur. It always feels like the industry is stacked against you, and that you're destined to fail. Keeping hold of your morals while navigating a field like this can be a challenge. Making hard decisions is part of the job. That doesn't mean that making them gets any easier with time. However, the perspective that these decisions need to happen for the good of the company and yourself can help you navigate them easier. To help, these eight professionals from Young Entrepreneur Council discuss the hard decisions they had to make, including the circumstances that led up to them, to help other young entrepreneurs learn from their experiences.
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As a budding young entrepreneur, you're likely to meet a lot of people telling you, "no." While some of these people are well-meaning, the constant negativity will eventually impact your self-confidence. The unfortunate truth is that you can't just stick your head in the sand and avoid naysayers altogether. While their negativity is depressing, sometimes they have valuable knowledge and information you will need. How can an aspiring young business owner deal with this situation? We asked 12 members of Young Entrepreneur Council about their experiences dealing with those types of people and how they overcame the negativity to be successful. Here's what they had to say.
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One of the most significant elements in helping a business get to know its customers is their data. Over recent years, consumers have started to take notice of how businesses use their data. While many aren't bothered, a few are against a company getting its hands on their information. As a result, they are averse to sharing access to their data. By limiting the data you collect to just the most pertinent bits, you will still be able to extract useful knowledge about clients while also earning their trust for not asking access to all of their information. To help businesses wondering what kind of data to collect, we asked 13 professionals from Young Entrepreneur Council (YEC) the following question:
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Leadership is a battle for constant improvement. In modern business, there is a particular need for competent leadership. However, leaders don't retain their positions by being complacent. One of the most effective methods of self-reflection is by asking yourself searching questions and answering them truthfully. The catch is that this requires you to be entirely honest with yourself. But what are the questions that would encourage you to be better? What should you ask yourself to develop into a more effective leader? To help, these 13 experts from Young Entrepreneur Council share the questions they ask themselves daily in their bid for self-development.
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Jul 15, 2020
Learning from others is vital to your success. It's a widely held belief that experience is the world's best teacher. Life lessons, both in and out of business, usually stem from experiences. However, as people, we can't expect to have all the experiences we need to figure out what to do in a particular situation. That's why learning from the experiences of others is such a vital skill for an entrepreneur. If you end up in a situation where you're not sure how to proceed, you might want to ask other, more experienced persons in the industry. To help newer entrepreneurs, these 14 experts from Young Entrepreneur Council have offered to discuss the lessons they learned from their earlier positions and why they were crucial to success.
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The internet of things (IoT) has given consumers and businesses the ability to make their homes and offices "smart." Because IoT devices can communicate and exchange data with one other, they have vast potential for streamlining workflows and making us more efficient. However, with all the data each internet-connected device collects, stores and uses, there's also an inherent security risk. The companies that make IoT products have a responsibility to ensure the security of its users' personal data. That's why we asked members of Young Entrepreneur Council to share some often-overlooked ways IoT companies can make their newest products more secure. Their best insights are below.
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A strong daily routine can make all the difference in a team's productivity. Things like creating a to-do list at the start of each day and blocking off time for "deep thinking" work often help people get organized and feel more focused throughout the workday. There are plenty of small habits like these that can help you be more efficient at work, but they're easy to forget when you're caught up in the daily grind. That's why we asked members of Young Entrepreneur Council what habits managers should instill in their team to help them become more productive and focused. Read on for their best responses, and why you should encourage these daily habits among your team.
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Employees who work on small teams may need to play multiple roles to ensure everything runs smoothly. With such limited resources, you may not be able to have a dedicated full-time marketing person to help you reach your full potential as a brand. That's why we asked members of Young Entrepreneur Council the following question:
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It takes more than just raising your voice Getting noticed in a large group of people is already hard. However, when it comes to a professional setting, getting noticed requires more than just shouting above the din. Large gatherings in business can already be intimidating, and making a point heard is a larger challenge. For the professional who wants to stand out, it takes a bit of skill and maneuvering to get into the spotlight. To help less experienced individuals navigate a crowded room, these 11 members of Young Entrepreneur Council examine a few proven strategies and explore why they are so good at getting you noticed in a group setting.
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All entrepreneurs are excited to see their businesses grow, but this growth isn't infinitely exponential. Occasionally, the company's growth may become stalled. This contraction might happen due to any number of factors affecting either the business itself or the industry as a whole. For a company to continue growing, it needs to regain its momentum. But how does a business restore the initial force that set it up for a significant growth spurt in its early development? Here, 15 experts from Young Entrepreneur Council share a few tips about how a company can regain its drive and continue to grow at a massive rate, even after stalling.
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As a leader, you know your workplace dynamic directly impacts employee morale and, in turn, your bottom line. No matter how great your company culture might be, there is always room for improvement. But to make impactful changes, you’ll have to first understand which areas warrant the most attention. To help you identify those areas, we asked a panel of Young Entrepreneur Council members this question:
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The only way a business can garner new customers and retain current ones is by laying out the benefits that its product or services present to the consumer. In the past, all it took was a flashy headline and a few bullet points that punched home the usefulness of the product or service. Today's world has evolved to a point where traditional advertising no longer makes the same impact. Even newer, more modern methods of advertising are having a hard time getting traction among some demographics. How, then, can a company educate its target audience about its latest products or services and their benefits? Eleven contributors to Young Entrepreneur Council look at the approaches a business can take to create engaging yet informative content to attract consumers.
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Customer complaints are a necessary part of a business, but it can be discouraging to deal with them. A good leader knows how to look at customer complaints and extract the positives out of those disparaging comments. A skilled leader can take these complaints and turn them into a power to motivate and direct the business's positive growth. The truly gifted among us can turn these negative experiences on their heads, and use them to develop positive experiences for future customers. Below, seven professionals from Young Entrepreneur Council talk about how leaders can grow and improve their businesses by constructively using customer complaints.
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Customer feedback is an invaluable asset to any company. Without this information, businesses would struggle to figure out what’s working, what isn’t and how they can improve their processes. But how exactly do you get your customers to share their honest opinions – and what do you do with that information once you have it? We asked the members of Young Entrepreneur Council to share how they collect feedback from their customers, and how they then make that information useful to their company. Their best answers are below.
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Social media is becoming an increasingly important part of every business’ marketing strategy. Making the right move with your social content at the right time can help bring positive attention and new customers to your business. As successful business leaders, the members of Young Entrepreneur Council are constantly watching and analyzing marketing trends to improve their growth and brand recognition. Below, they share the smartest social media moves they’ve seen, and how you can execute that same strategy to achieve great results.
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Stress is common when you’re in a management position. With countless tasks to complete, employees to manage and business operations to oversee, it’s no surprise many leaders end up feeling overwhelmed at one point or another. One of the most effective ways to combat stress in the business world is by improving your adaptability, so you’re ready to take on whatever is thrown your way. Below, 16 members of Young Entrepreneur Council shared their best tips for becoming more opportunity-oriented as a leader.
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Jun 29, 2020
While every mentor is unique, the truly great ones will check certain boxes.
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Winning a business or industry award can be a great honor for your business, as well as a highly effective PR opportunity. However, to be considered, you'll first need to submit an application to be reviewed by the award committee. To help you with this process, we asked the members of Young Entrepreneur Council the following question:
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Start by creating stellar content, catering to your customers and providing them with value.
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Since the internet has permeated business to such an extent, PR crises are becoming far more common for companies. Many of those PR faux-pas are due to misuse or misunderstanding of social media interaction. However, as much as social media can be a tool to cause a PR crisis, it can also be useful in helping to manage it. Social media is still the best way to create a rapport and interact with a particular demographic of customers directly. We consulted 10 members of YEC to figure out what smart ways exist for business leaders to use social media to manage potential PR conflagrations. Their responses are below.
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Every company has both the need and the potential to grow over time. Whether a business must adapt to new trends or is simply looking to improve its internal processes, high-level change is simply part of a company's journey. While a good idea can come from anywhere in the organization, it must have the full support of the leadership team for it to be sustainable. This notion can be discouraging for some entry- and mid-level employees who might feel there's too much "red tape" to have their ideas heard, validated and implemented. However, you don’t have to necessarily be at the top of the totem pole to enact lasting change -- there are plenty of ways you can present your ideas to the right people and convince them of the need to change. We asked the members of Young Entrepreneur Council to share their best tips for making a high-level impact, regardless of your place in the organization. Follow their advice to start making a difference today.
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When your company's growth is gaining traction, make sure your culture grows right alongside it.
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Transparency in business has become a practice that’s favored by not only consumers, but by employees as well. When leaders are transparent with their team about the business, it builds a sense of trust and equips employees to make informed decisions. However, sharing more information than necessary can be distracting at best, and detrimental to company culture at worst. So how do you determine how transparent to be with your employees? Below, 10 members of Young Entrepreneur Council share some questions and considerations for leaders.
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A strong creative team can help your business develop great ideas and soar to new heights. However, simply having the most talented or innovative people on board isn’t enough. They must not only be willing to make unconventional moves, but they must also place trust in their other team members. To help you strike the right balance, we asked the members of Young Entrepreneur Council to share the most crucial ingredients needed to build a successful creative team. Their best answers are below.
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Professionals, regardless of their work environment, sometimes find their focus flagging. If you're someone who has to deal with divided attention between multiple tasks, the amount of effort you put into a job will start telling on your psyche before too long. To deal with this situation, you'll have to figure out how to retain your focus and discipline within the workplace. Luckily, there are several approaches to reestablishing your focus at work. Productivity is linked to your mindset and your environment, after all. Below, 14 professionals from Young Entrepreneur Council discuss some of their favorite and most effective approaches.
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There are more accurate (and less overused) ways to tell the world what you do.
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Business plans are more than just documents outlining your steps to launching and growing your startup. This plan acts as a map throughout the entire process, and helps you figure out what to do when you face roadblocks or wrong turns. While a business plan isn't required to start a business, it can be helpful in guiding you in the right direction and even securing proper funding for your business. However, writing a business plan is no easy task. To help you get started, a panel of Young Entrepreneur Council members shared their best tips and tricks.
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When you spend time in the business leadership world, you start to hear a lot of cliché phrases and vague terms that other managers frequently use. Sometimes they use them sound smart; other times they're not sure of a better alternative. Either way, these overused words begin to sound like jargon over time, and may lose their meaning when you're communicating with your staff. We asked nine members of Young Entrepreneur Council to each share one word leaders often use, but shouldn't. Here are some key words and phrases to avoid as a manager, along with a few suggested terms to use instead.
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With so many remote working teams in the world today, productivity requires utilizing tools that can connect the team through voice, chat and video. Slack rules the roost as the team collaboration software, but it’s far from being the only reliable one. Dozens of team collaboration tools have gained growing popularity over the last two months. Some of them offer similar functionality to Slack and might even be better at some things. Others are sorely lacking in utilities to help a team get organized. To help those working remotely in a group, we asked 15 entrepreneurs from Young Entrepreneur Council (YEC) the following question:
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Jun 12, 2020
It's no surprise that cold calling remains one of the most effective means of getting leads. Unfortunately, people tend to be averse to getting calls out of the blue. Some people even reject unknown numbers to avoid cold calls altogether. Despite this, user engagement with phone calls remains high, and the number of people you connect with increases your chance of success. Even though it's a numbers’ game at heart, you can develop an advantage by stacking the odds in your favor. The most critical thing to figure out is how to approach cold calling so as to get the best results. We consulted eight experts from Young Entrepreneur Council regarding their best advice for landing cold calling clients. Here's what they had to share:
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Jun 11, 2020
[long-form article emailed to Kelsey]
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In all walks of life, there will be pitfalls that plague professionals. For an entrepreneur, especially, it may occasionally feel like nothing is working out, no matter what you do. There's a saying that success only comes to those who get back up each time they get knocked down. The problem is that the saying doesn't detail how you get back up from a fall. Some leaders can find themselves falling over and over, and each time the recovery takes more out of them. Recovering from a fall doesn't have to be such a trying experience, however. Here, 15 professionals from Young Entrepreneur Council provide their most effective methods for bouncing back from life's setbacks.
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[LONG-FORM EMAILED TO KELSEY]
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Working remotely has become the new standard in the COVID-19 era. Companies that followed a traditional in-office model have had to adjust to how they presently work, and soon have to learn how to hire remotely. It's possible to find the right candidate via online screening and video interviews, but a fully virtual hiring and onboarding process can seem like a daunting proposition for companies that haven't done it before. To help, we asked members of Young Entrepreneur Council to share some insights from their personal experiences with bringing on remote hires. Follow their advice when you're ready to hire your first remote team member.
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Entrepreneurs can be so busy in today's business world that they lose sight of themselves. Introspection has an essential place in an entrepreneur's mindset. Understanding one's goals and motivations can help one come to terms with what one wants out of life. The underlying problem that affects leaders that don't delve into self-discovery when they should, is not fully understanding how this exercise can benefit them. Introspection is more than mere navel-gazing. It imparts in-depth knowledge about oneself that can go on to aid a leaders' business interests. Fifteen associates of Young Entrepreneur Council offer insight into how any entrepreneur can make the most of daily reflection or journaling practices.
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In today's always-on, digital-first world, consumers increasingly expect companies to offer fast and convenient channels for customer support. To this end, many brands now offer live chat so customers can reach them faster than an email or phone call. While live customer chat may be an attractive option that sets you apart from competitors, it's important to understand the commitment involved and how to best serve the customers who reach out to you through this channel. We asked a panel of Young Entrepreneur Council members what businesses should keep in mind when implementing live chat functionality. Follow their advice to ensure your customers are satisfied, no matter how they reach out to your company.
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It's often said that a happy employee is a motivated, productive one. If your team members are feeling good about themselves and their work, they’ll bring that positive energy into everything they do. That's why it's so important to keep a close eye on your overall team morale. We polled a group of Young Entrepreneur Council members to find out how they keep tabs on the general sentiment among their team members. Below, nine of them share their best and most effective approach.
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As the up-and-coming generation of consumers, Gen Z has become a hot target demographic for many brands. This generation of true digital natives is even more entrenched in the world of technology than the millennials who came before them. Therefore, companies that want to reach them need to go all-in on social media, Gen Z's preferred place to "hang out" online. However, the way Gen Z uses social media is different than older generations, and reaching them can be a challenge. You need a targeted approach that speaks to their values, interests and lifestyles. Here's how 16 members of Young Entrepreneur Council recommend connecting with Gen Z-ers on social media.
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It takes a lot of mental fortitude for an employee to approach their employer for a raise. There's no playbook for managers and business owners to know how to gauge whether an employee deserves a raise or not. The factors as to whether an employee deserves to earn more can be approached in several different ways. From the addition of value to the support they provide, each plays an integral part in determining whether a raise is warranted. That’s why we asked 10 entrepreneurs from Young Entrepreneur Council (YEC) the following:
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The COVID-19 pandemic has disrupted nearly every business and industry in some capacity. Some non-essential employees have taken to remote work, while many others have faced reduced hours or layoffs. With this widespread loss of income and minimal social outings, many consumers have also cut back their spending. That’s why retaining your current customers is more important than ever in today's world. Below, 10 members of Young Entrepreneur Council share some effective customer retention strategies they're leveraging during these uncertain times.
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Despite the overwhelming preference for digital media among modern marketers, traditional advertising methods are still being implemented today and driving great results. Newspaper, TV and radio spots can offer tons of potential for businesses looking to reach a local market -- if they're used the right way. To help with your next traditional media campaign, we asked members of Young Entrepreneur Council the following question:
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If you have the means, it's important to spread the wealth and give back to the community that has always supported you.
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At times it can be difficult to turn off our emotions -- especially when it comes to separating personal feelings and work. While it’s perfectly normal to have negative feelings in the face of difficult work situations, wallowing in these emotions for too long can affect your job performance as well as your overall well-being. Whether you’re dealing with low confidence, adversity or rejection, building a thicker skin can help you make it through whatever professional challenges you're facing. Below, 10 members of Young Entrepreneur Council share some tips to help you brush off feelings of negativity and press onward.
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Moving into the second quarter of the year, entrepreneurs should be well aware by now that the only way to ensure that their company gets more efficient is to examine its performance in the previous quarter and see where it can improve. Performance evaluation is much more than just assessments that focus on a small core of metrics. Gearing up for the second quarter relies on determining where the company dropped the ball in the first quarter. In dealing with strategic approaches, these seven members of Young Entrepreneur Council look at their own methods of determining their goals for the second quarter based on performance in the first and explain how their approach helps their teams gear up for a more productive quarter.
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As more businesses start to realize the benefits of outsourcing, they slowly start cutting down on the number of things they do in house. In many industries, the reduction in costs is so significant that it allows the business to thrive and grow much faster. However, even though outsourcing is an excellent idea for increasing profitability for a business, not all solutions should be outsourced, even if they could be. How does a company determine the best tasks and functions for outsourcing, and to what extent should that outsourcing happen? Eight professionals from Young Entrepreneur Council weigh in on the indicators they use to figure out the intricacies of outsourcing in their own businesses.
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As an entrepreneur, it’s useful to have strong business acumen -- an almost intuitive skill that can and must be honed. However, good business sense alone isn’t enough; there are several other traits an entrepreneur needs in order to succeed. As some of the top leaders in their respective industries, the members of Young Entrepreneur Council know what skills are required to succeed in the business world. Below, they share 10 underrated skills that all entrepreneurs should possess, but often don't.
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Apr 16, 2020
What video trends will your brand take advantage of this year?
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Making a major spending decision in your business, whether that be a new hire or a new marketing campaign, is often intimidating. You want to make sure you’re investing your money wisely, in a way that will yield a worthwhile return. To help you, we asked a panel of Young Entrepreneur Council members how to make financial decisions with confidence.
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Accessing capital is one of the biggest challenges many new entrepreneurs face. From loans to investments, securing the proper financing is a long and taxing process, but it can be overcome. Members of Young Entrepreneur Council explained how they worked through their funding challenges.
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Spending time alone and focusing on the year ahead are among the most effective strategies. The holiday period has a lot of emotional curves that can drain you. Getting back to work after the season might find you feeling listless and unable to function. Some entrepreneurs may take months before they get back into the groove. Sadly, waiting this long is not feasible, and getting back to your best performance needs to happen in a matter of days if you want to make the most of the new year. To help young entrepreneurs deal with coming out of the holiday season, we asked 13 professionals from Young Entrepreneur Council what strategies they employ to recharge and recenter themselves after the stress of the holidays is over.
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Apr 15, 2020
Every business owner hopes to succeed in their venture. Access to the right resources plays a huge role in that success -- but barriers do still exist, especially for female entrepreneurs. Women in the business world often talk about the importance and benefits of supporting each other. That's why we asked the women of Young Entrepreneur Council how they tap into the right resources and lift up other female leaders in the process. Here's how they've achieved their own success, and helped their fellow female entrepreneurs do the same.
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It's up to you to put in the time and effort to complete your project -- even if it means waking up earlier.
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A business is built on the reputation it gets through its dealings. Not all the press a company receives will be positive, however. Depending on how the consumers see the business, a company might have mixed reviews on social media. While you might think that positive reviews are the only thing that can aid the company, there are several critical benefits that negative reviews offer as well. Unfortunately, in their haste to do damage control, many small businesses overlook the takeaways contained within these negative comments. To help leaders deal with the inevitable negative feedback that come with running a business, eight contributors to Young Entrepreneur Council discuss the best methods of handling these comments and what lessons can be learned from them.
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A business is built on the reputation it gets through its dealings. Not all the press a company receives will be positive, however. Depending on how the consumers see the business, a company might have mixed reviews on social media. While you might think that positive reviews are the only thing that can aid the company, there are several critical benefits that negative reviews offer as well. Unfortunately, in their haste to do damage control, many small businesses overlook the takeaways contained within these negative comments. To help leaders deal with the inevitable negative feedback that come with running a business, eight contributors to Young Entrepreneur Council discuss the best methods of handling these comments and what lessons can be learned from them.
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Each day is different for each person. For entrepreneurs, a string of disappointments or rejections can lead to a significant impact on your psyche and your confidence. Many business coaches maintain that the best way to keep motivated is to stay positive and to keep a firm sight of what your goals are and how you intend to attain them. Ensuring that this works hinges on your confidence. These three things are essential contributors to your overall motivation. Determining how to maintain these crucial elements in your search for success seems like an uphill battle sometimes. Here, 15 associates of Young Entrepreneur Council examine how you can approach staying positive and retaining your confidence, all the while holding on to your goals.
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As your business develops over time, you may find its original purpose changing as well. Whether you’re incorporating a new service or changing industries completely, trying a new direction for your company can be risky. Fortunately, taking the steps to ensure a smooth transition can set the stage for success, as well as make the process easier for all involved. Below, 10 members ofYoung Entrepreneur Council shares their best strategies for companies looking to pivot to something new.
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Many a company had to reinvent themselves and especially their customer interactions in order to stay in business. Listening closely to your target audience is often the first and best step your organization should take when planning a major shift. Listening and implementing the received feedback shows precisely how important an empowered community of consumers is. It doesn't matter which industry your business is concerned with, a community of users linked by the same likes or taste can be an influential demographic. However, building an empowered customer community isn't something that occurs accidentally. It requires a lot of long-term planning. To help, eight experts from Young Entrepreneur Council share what they believe are the crucial steps in developing an empowered customer community that a business can count on.
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Running a business is no easy feat, and with each new challenge that arises, an entrepreneur risks becoming buried under the weight of the responsibility. There's no way that an individual can stop the flood of responsibilities, so the only option that a new business owner has is to find an effective and efficient process for managing the situation. Some strategies designed to help leaders avoid being buried under the responsibilities of a business work far better than others, but it's challenging to know from a glance which ones are good and which ones aren't. These eight members of Young Entrepreneur Council look at the most effective strategies they use to avoid becoming a victim of their business's increasing demands.
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Entrepreneurs have habits that can both aid and hamper their efforts to be better businesspeople. Some practices even seem to be completely harmless but we don’t truly realize how damaging they can be until we make a small change that impacts them and shows how die-reaching its consequences are. Since these are our habits, we're usually biased and lack the correct perspective to appreciate how harmful they may or may not be be. To help entrepreneurs identify their seemingly neutral practices that have negative consequences, eight members of Young Entrepreneur Council describe their experiences with "harmless" habits and how they overcame those hurdles themselves.
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Businesses rely on their stakeholders for services, marketing, and their bottom line. Each of a company's stakeholders has a role to play, but in return, they have certain expectations for the business. Meeting those expectations and exceeding them is the ideal goal for a business. When the company inspires confidence to its stakeholders, it benefits from their increased support. However, it may be challenging to ascertain what precisely a stakeholder expects and how to meet those ambitions. Here, five professionals from Young Entrepreneur Council examine the methods they use to meet their stakeholders' expectations and make sure they are satisfied with the company performance, and advise on how any business could do the same.
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The world's most successful entrepreneurs are often fiercely independent and self-reliant. They have the courage to keep going when things get difficult and know how to push themselves to overcome even the most challenging of situations. However, no one becomes a success completely on their own. Entrepreneurs also need a strong support network of peers and mentors who can offer them sage advice and wisdom throughout their journey. Below, 10 members of Young Entrepreneur Council share the one piece of advice that has stuck with them over the years and helped them get where they are today.
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Feb 19, 2020
There's always room for improvement and setting a better example for your team.
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With tech innovation happening at an unprecedentedly fast pace, businesses and entrepreneurs should stay abreast of the latest developments and find ways to leverage new technology to make their life easier. For entrepreneurs especially, using the right technological tools can streamline their work and free up more of their time, helping them attain that ever-elusive but much needed work-life balance. But with so many available options, how can a busy entrepreneur identify the most suitable tools for their own needs? To help, we’ve asked eight members of Young Entrepreneur Council about their own essential gadgets and applications that they can’t do without, whether in their personal life or at work. Here's what they had to say.
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Expect a bigger emphasis on building authentic relationships, social purchasing and humanization.
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In the modern world, entrepreneurs typically need to maintain both an online and offline presence to generate business. It’s important to connect your digital and real-life persona to keep a consistent image, which can ultimately help build trust with your potential customer and follower base. The members of Young Entrepreneur Council have spent time honing their personal brands to grow their business. Below, they share 10 ways to successfully connect your offline and online marketing efforts.
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Jan 15, 2020
Nobody knows everything when they start their first business. Even if you take the time to educate yourself on potential challenges and seek mentorship from more experienced entrepreneurs, there are still some lessons you'll only learn in hindsight. The members of Young Entrepreneur Council know well the challenges that new founders face when they're first starting out. We asked nine of them to share the one thing they wish they'd done before they launched their company. Below, they reflect on their entrepreneurial journey and share their wisdom with fellow aspiring business owners.
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A New Year’s resolution is a great way to kickstart the year on the right foot, while setting the stage for continued growth. However, most people struggle with sticking to their resolutions beyond the first few weeks (or days) of the new year. So how can you beat the odds and meet your goals in 2020? We asked the members of Young Entrepreneur Council to share how they make their New Year’s resolutions work in the long term. Their best answers are below.
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Everyone feels down from time to time -- especially when you're dealing with the stress of running a business. Those negative feelings can make you question everything. While it's OK to feel down, the best way to relieve that feeling is to actively seek out positive thoughts. That's why we asked Young Entrepreneur Council members what they do in moments of doubt to help remind them of their potential. Ask yourself the following questions to regain your confidence during a mental or emotional rut.
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As your company grows, managing both company-wide and department goals can become more and more challenging. It can feel like a delicate balancing act -- and if it's not coordinated properly, prioritizing broader company goals could come at the expense of the individual departments. As successful business leaders, the experts of Young Entrepreneur Council have learned how to track their department-specific goals as their companies have grown. That's why we asked a panel of YEC members to share their best tips for monitoring departmental objectives. Here's what they had to say.
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As an entrepreneur, you’ve likely encountered various risks and obstacles while juggling a myriad of responsibilities. With all these challenges, it’s common for self-doubt to strike at some point in your career. However, it's important to not let those negative perceptions and fears get the best of you. Many members of Young Entrepreneur Council have felt the sting of uncertainty throughout their careers -- and they’ve figured out how to conquer it. Read on for their best practical tips for banishing self-doubt and growing from the experience.
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Building a solid team is one of the best ways to ensure success and longevity for your business. However, finding the right people isn’t always easy. Small business hiring can be an especially daunting process, since you’re seeking qualified team members who are also aligned with your business’ vision and growth goals. That's why we asked, nine Young Entrepreneur Council members how you can be sure you’re hiring those who are going to help take your business to new heights. Read on for their best advice.
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The winter months mean less sunlight, colder temperatures and often, dampened moods. It’s common for people to feel more tired and less motivated in the winter, which can negatively impact work performance. However, a winter slump is not inevitable -- it may require a bit of extra effort, but you and your teams can stay just as motivated during those colder months. To help you out this winter, we asked members of Young Entrepreneur Council to share how they raise spirits in the workplace throughout the season. Follow their recommendations to keep your team feeling productive until spring arrives again.
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How will you improve your content this year?
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Starting a business always comes with a certain amount of risk. You’re opening yourself to the possibility of both the successes and challenges that come with entrepreneurship, many of which are difficult to predict before you start. As successful business owners, the members of Young Entrepreneur Council have experienced firsthand the unexpected challenges of starting a company. Below, they share 10 of the toughest obstacles they didn't expect to face, and how other leaders can prepare for them.
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A business can learn a lot from data. Business intelligence is the methodology that takes data and derives actionable results from it. When a company utilizes those suggestions, it can lead to higher efficiency and productivity. However, there has been a reluctance in some businesses to give data-driven results a chance. Many feel as though data can't provide the 'human element' that leads to positive change. Despite this, other entrepreneurs have brought data-driven decision-making to the foreground, and below, seven members of Young Entrepreneur Council share their best advice and stories about how data has allowed them to make smarter decisions and drive their business success.
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Entrepreneurs usually have to locate a source of funds to make their dreams into a reality. Sometimes, all you have is an idea, and as good as that idea is, unless you know how to get funding, it'll remain a thought in your head. Convincing people to invest in a business is more than just laying out the positives and negatives. Finding the right pitch for the correct type of investor is crucial in securing their financial help. But what method works with which investors? To guide you on your quest to land investors, eight members of Young Entrepreneur Council share their insights into how to source funding, using their own experiences to help you figure out your path. They offer their ideas below.
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Get your share of increased customer spending this season.
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As digital payments evolve and become more commonplace, an increasing number of businesses are accepting them, with some businesses rejecting cash payments entirely. While digital payments can certainly be convenient for customers and businesses alike, it’s important to understand the process and avoid any potential pitfalls. We asked the members of Young Entrepreneur Council for their takes on digital payments. They shared 10 things you should keep in mind as digital payment options evolve, and how those offerings will impact your business in the future.
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End-of-year reviews are useful surveys because they help a business better understand its strengths and weaknesses. However, the analysis doesn't have any set way of being done. Different companies conduct their end-of-year surveys in unique ways, tailored to the needs of the business. Regardless, at the heart of every year-end study is the data collected. Analyzing this data can offer an enterprise essential insights into what it could be doing better, and what it excelled at over the previous year. In developing an end-of-year review technique, it's vital to cover the essentials to get a proper feel for the business's operation. To this end, seven members of Young Entrepreneur Council share their insight into what they do within their own companies for the end-of-year review, and how any business can get started on developing its own technique.
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Risk is often inherent in business, especially when you’re running your own. However, there are steps you can take to manage that risk. As highly successful entrepreneurs in their industries, the members of Young Entrepreneur Council have learned a lot about effectively mitigating risk and minimizing its impact on their businesses. We asked them to share some practical tips for new business owners who are also new to risk management. Read on for their best answers.
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Office culture doesn't stagnate, and there will always be a constant change around how a business operates. Instituting new office procedures and policies as the company culture changes may mean taking some chances. Not all new plans are guaranteed to succeed, and some of them require considerable risk on behalf of the company. If a business isn't sure if a policy or proposal will turn out positively, then its implementation should be weighed carefully. Failure of the policy might mean severe drawbacks to the business as a whole. For entrepreneurs who are looking at instituting new policies, such as, for instance, allowing pets at the office, 13 members of Young Entrepreneur Council examine the core considerations companies should make when evaluating the viability of implementation.
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Fundraising for a startup is an involved process. At any step of the way, the system may falter and lead to the company missing out on significant funding. There's no step-by-step methodology for developing a startup funding plan. Each startup is unique, both in the ideas they present and the promise that they make to customers. However, for fundraising, it's not the customers' input that matters. It's what the investors think of the company. A startup's fundraising efforts hinges on its ability to make itself attractive as a business idea. To help, 12 members of Young Entrepreneur Council reflect on the big mistakes that they made while fundraising, and offer advice on how today's startup entrepreneurs can avoid falling into the same trap.
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An awkward conversation can be a minefield -- one wrong move could spell disaster. The stakes are even higher within a workplace environment. Since colleagues tend to be in close quarters throughout the day, uncomfortable situations that stem from these difficult conversations can fester and lead to unhappiness for both parties. When dealing with a difficult discussion with a co-worker, it's possible that you will read the situation or tone badly, and snowball the debate into a disastrous exchange. To help you deal with difficult conversations a little easier, eight contributors to Young Entrepreneur Council offer advice on how to deal with these interactions and what things to avoid that could could be detrimental to your future career and prospects.
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Make 2020 the best year yet — for your business and life.
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In the age of social media, a controversy -- and a potential public relations crisis -- is always lurking. It's impossible to completely avoid controversial issues and conversations if your business is on social media, but knowing how to handle them with grace and professionalism can save you from landing your brand in hot water. To help you, we asked members of Young Entrepreneur Council the following question:
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Online videos are one of the most successful marketing materials that a business has at its disposal. However, crafting an online video to draw people in takes a bit more skill than merely recording something and adding branding to it. A company should consider doing a short video ad like doing a mini movie. Just like a professional production, it should communicate a message and know who its target audience is. Aimless video production will only create something forgettable, the exact opposite of what a successful video should be. To help, we consulted 11 associates of Young Entrepreneur Council about what they consider to be the most vital aspects of successful online video creation.
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Nov 18, 2019
The rate of technological advancement has seen the world change almost entirely in just a single decade. In a short space of time, humanity has managed to develop advances that people only 50 years ago would be unable to fathom. The march of tech isn't slowing anytime soon, either. From fully connected homes to self-driving cars, we are in an age where technology has changed the way we interact with the world around us as well as each other. Each year we get even more tech to experiment with. We asked 10 members of Young Entrepreneur Council what technological advances they were excited to see this year and their immediate implications, as well as why they think these advances are so significant.
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Nov 18, 2019
The rate of technological advancement has seen the world change almost entirely in just a single decade. In a short space of time, humanity has managed to develop advances that people only 50 years ago would be unable to fathom. The march of tech isn't slowing anytime soon, either. From fully connected homes to self-driving cars, we are in an age where technology has changed the way we interact with the world around us as well as each other. Each year we get even more tech to experiment with. We asked 10 members of Young Entrepreneur Council what technological advances they were excited to see this year and their immediate implications, as well as why they think these advances are so significant.
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Nov 15, 2019
13 Great Methods of Expressing Gratitude Thanking others who deserve it makes you a better entrepreneur. Entrepreneurs have an unearned reputation for being cold individuals because of the things they may need to do what is necessary for the success of their enterprise. However, showing gratitude and letting others know they are appreciated dispels the idea of the cold business owner. Gratitude shows that you care, and people are compelled to reciprocate, just so long as the thankfulness is genuine. Thankfulness shouldn't extend only to friends and family, but also to coworkers and employees. Below, 13 business owners from Young Entrepreneur Council share what they considered the best way to show gratitude to someone, even if they aren't closely related to them.
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long form emailed to Kelsey
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Encourage both individuality and togetherness to make your remote team feel connected and productive.
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Oct 9, 2019
Help put your company at the top of consumers' minds for years to come.
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Help your sales team blow past their weekly, monthly and yearly revenue targets.
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This is a great way to dip your toes into becoming a business owner because you don’t have to stock the items that you’re selling.
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Aug 9, 2019
Customer trust is the foundation for a successful business, but it takes time to build.
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Fuller pockets, more happy customers and a better environment is a win-win-win situation all around.
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Make your marketing smarter.
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Instagram marketing isn't just for social media influencers and mega brands.
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Don’t leave your social media engagement up to guesswork; use these proven psychology-based tips to make sure your social media platforms are bustling with activity.
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Building a strong bond between your employees—even if you live on opposite sides of the planet—is a vital step to building a healthy work environment.
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Strategy11 LLC is a web-development company that specializes in a wide range of web projects and applications from single, static sites to large corporate platforms. We develop and support several WordPress plugins that streamline the development process by reducing timelines and cutting costs. Strategy11 is owned and operated by Steve and Stephanie Wells.