What Does It Take to Be a Successful Entrepreneur?

Many people wonder if they have what it takes to start their own business. The good news is that the short answer is yes, they do. Everyone has the potential to become their own boss and manage a successful business.

Entrepreneurs, on the other hand, come in all forms and sizes. Many people work a nine-to-five job and then run an ecommerce business from home. These people are already business owners. Stay-at-home mom or dad, who schedules time to work on a blog? They are business owners too. A full-time student with a desire to sell artwork to local businesses. They, too, are considered business owners.

Anybody who wants to be free of the constraints of a 9-to-5 job and seek a life of financial independence has what it takes to succeed, but they must have the correct business attitude.

Entrepreneurship Gaining Popularity

If people look back at the previous years, they will notice that entrepreneurship is becoming more popular. Around 51% of the current working population feel that now is a great time to start a new business. 80% of them who say they plan to start one in the next three years are already taking steps to implement their plan. 

Having the Entrepreneurial Spirit

When it comes to problem-solving, the most successful entrepreneurs can think outside the box. These folks are skilled communicators who are also capable of taking on the responsibilities of a supervisor or manager. Self-motivated people who have the ability to assess risk responsibly and understand how to manage personal and professional money may be excellent candidates to become an entrepreneur.

For those wondering if they have what it takes, answering these questions will help. The more they answer yes, the more it shows they have what it takes.

  • Are they able to handle surprises calmly?
  • Do they track their money and spend it wisely?
  • Are they capable of adapting to change?
  • Are they good leaders on group projects?
  • Are they comfortable overseeing people and projects?
  • Are they bored doing the same tasks repeatedly?
  • Are they a people person?
  • Do they refuse to give up?
  • Does their current company consider their skills a strength?

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The Six Stories That Great Leaders Tell

Great leaders have great stories to tell. They know how to tell stories that resonate with people and have meaning. There are stories about founding, vision, strategy, sales, and other topics in business. Continue reading to learn six of the stories that great leaders tell.

  1. The Story of Founding

One story that great leaders tell is that of founding a company. You can apply your own experience and come up with a meaningful story that can serve to inspire and motivate people.

Stories are a great way to share your goals because they resonate with the people listening, and they will want to remember them and share them with others. They transcend gender, race, and other demographics, and they help people understand what it took to start the company.

  1. The Story of Vision

The story of vision shares your vision for the company. This lets people walk away with a good understanding of why you started the company and what you hope to accomplish. This leads others to join you in reaching for your goals, and they feel more a part of the process. Your story will be more memorable than a set of facts and numbers.

  1. The Story of Strategy

The story of strategy takes your strategy and tells a story to make people understand how it works. You can report what your strategy is and how you want it achieved, but people walk away with a set of tasks. When you tell a story, it helps hold people’s attention and they understand how to use the strategy effectively to bring about desired results.

  1. The Story of Sales

A sales story is great to help people understand an example of how they can become more effective. You can tell the story by using opposing sales methods, or you can tell a story of one success. Either way, it should help clarify a sales method that works.

  1. The Story of a Customer

This is another great story. Every leader has a customer that stands out. It could be someone who was particularly hard to convert, or it could be a chance encounter. Either way, you can use this story to show people how to convert people to paying customers and how to make them feel valued and become loyal to the company.

  1. The Story of Marketing

In this story, you can tell how marketing works. Use a specific story to show how one person went through the marketing process to improve their sales. This story helps to clarify the how and the why behind marketing strategies.

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Books that Every Entrepreneur Should Read

Even though starting a business might feel like a form of revolt against more established professional pathways, entrepreneurs and small business owners don’t have to do it alone. Business books are a great method to learn from seasoned professionals and obtain assistance in directing your company to success.

Business novels that will revive long-time business owners and encourage a new generation of entrepreneurs include the following titles.

Walter Isaacson’s “Steve Jobs: The Exclusive Biography

For those in search of motivation, it is recommended that they read the biography of one of their generation’s most significant business figures. Jobs’ biography is both instructional and amusing, and it contains valuable lessons for company entrepreneurs on topics such as invention, character, leadership, and values.

Gino Wickman’s “Traction: Get a Grip on Your Business

Traction” by Gino Wickman may assist readers familiar with the frequent difficulties of business ownership, such as staff strife, profit problems, and inadequate development. The book discusses his approach to enhancing six critical components of a company’s operations. He claims that the system presented in this book, which was first published in 2012, is still valid in 2021.

Jason Fried’s “Rework

Hardcore entrepreneurs, small-business owners, individuals who are stuck in day jobs they despise, victims of ‘downsizing,’ and artists who don’t want to hunger anymore are all targeted by this book available on Amazon. The book “Rework” by Jason Fried will not guide readers through the process of developing a business plan and attracting investors. The book instead focuses on themes like productivity and getting exposure from a minimalist point of view. 

Simon Sinek’s “Start with Why: How Great Leaders Inspire Everyone to Take Action

According to Simon Sinek, people don’t buy what others are doing; they buy the reason they do it. The idea is not to conduct business with everyone who might be interested in what you have to offer. The idea is to do business with people who share your beliefs and are willing to work with you. “Start with Why” takes this concept a step further by describing how entrepreneurs and company owners may discover their purpose and, in turn, inspire others in their own lives and businesses.

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How to Deliver What Your Company Needs Most From You

If you want to deliver what your company needs most from you, you need to know what their priorities are. It is important to build influence, and you need to spend time learning what you can do to improve your performance. Continue reading to learn how you can deliver best to your company.

Evaluate Your Role and What You Bring to the Job

First, you need to understand what your role is and what assets you bring to your position. Consider what skills you can develop so that you can do a better job and increase your influence. You should also determine whether you are in the best place to have the greatest impact.

It is important to know your company’s goals and mission statement so that you can deliver what they need. When you assess yourself, be as objective as possible. When you think of what you have to offer, consider whether you are using it to its full potential and whether it improves how you do your job.

Meet with Your Manager to Find Out How You Can Improve

Once you do your own self-evaluation, you can meet with your manager for further feedback. Find out how you can deliver what the company needs, and learn the changes you might need to make. See if there are any trainings or other skill developments that you can participate in to improve yourself for the company.

The key is to stay open-minded and resist taking constructive criticism personally. If you truly want to deliver for your company, you should welcome any advice, feedback, or suggestions for improvement.

Show Everyone That You Have Changed

As you make the changes to your work habits and style, make sure that other people see it. You don’t want to tell them, but you can let them know through your actions. Make sure that you sell your value by bringing insights to meetings and participating whenever you can. Challenge yourself to help others improve without sounding condescending or overly confident.

 

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Remote Employee Perks to Implement to Foster Company Culture

Are you looking to help encourage your employees to love the company you work for? Company culture is cultivated through organizational perks, including office events, educational opportunities, and remote employee benefits.

However, when your team members go remote, it can be challenging to cultivate that same company culture. Here are some of our favorite remote employee perks.

  1. Implement Employee Wellness Programs

Research shows that remote workers are more likely to exercise and engage in wellness practices while at work. This can help reduce health insurance costs, and it can also help you create a perk that encourages your remote employees to work out and stay healthy.

  1. Offer Unique Swag

Offering unique swags such as branded mugs or shakers can be appreciated by remote employees, but it might not have quite the same impact as it would with on-site employees. Make sure to include your remote employees in the marketing of these unique swags, like having an online giveaway for your swag.

  1. Utilize Employee Appreciation

In-office employees may appreciate a birthday card, but remote employees often feel left out of the appreciation process. While planning company events can be challenging when your team is remote, you can be sure to include recognition of their birthdays and milestones in meeting minutes or company newsletters.

  1. Offer Unique Perks

Remote employees often work in a home office environment, so why not offer them unique perks that help them fit into that office-at-home vibe? Tap into their creative sides and offer remote employees an office-at-home makeover. Remote employees can also benefit from unique perks such as company-paid travel and more.

  1. Reduce the “Out of Sight, Out of Mind” Mentality

One of the biggest challenges to cultivating company culture in a remote setting is that your employees may feel they’re missing out on what’s happening in the office. Encourage your remote employees to participate in company social events to overcome this challenge. Do webinars, live video chats, and office tours.

There are plenty of perks that you can offer your employees when they go remote, so it’s up to you to determine which ones will serve your business best.

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Easy Ways to Ensure That Your Leadership Style Isn’t Offensive

As a leader, one of your tasks is giving feedback to employees. However, some people have trouble receiving feedback. You need to learn how to communicate in a way that helps to improve the performance and make the employee feel empowered to work towards mutual goals. Continue reading to learn some easy ways to ensure your leadership style isn’t offensive.

Ask Before You Offer Feedback

Rather than offering your feedback without an introduction, ask the employee if they mind if you give them some feedback. This shows respect and courtesy, and it is transparent and makes the person feel comfortable. They are aware that you are coming from a kind and compassionate position, and they can better understand that you want to help them improve how they do their job.

Make Sure That Feedback Includes Suggestions for Improvement

When you give feedback, it should be specific. For example, if an employee wasn’t great in a presentation, you can offer constructive ways for them to do a better job the next time. Don’t label it with adjectives such as bad or poor, but let them know what would have made it better. When people don’t feel threatened or criticized, they are more responsive.

Use Tact

Leaders are often direct by nature, but giving feedback requires a degree of tact. No matter how you are feeling, make sure that you are sensitive to how they feel and use tact when you deliver the feedback. Rather than telling them how bad something is, tell them how they can improve it or get better results.

Explain Your Perspective

People often have trouble thinking about issues from other perspectives. When you are letting your employee know how they could improve an approach, use a story or have them imagine the situation from your perspective or that of a customer.

This can help them to become more open-minded. They may not have noticed that their actions were inconsiderate or inappropriate. This is a great way to help them improve how they interact and make decisions in the future as well.

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How to Make a Hybrid Workplace More Equitable

There are many more remote workers in the workforce than there were before the pandemic. In fact, even as some people are vaccinated and returning to work, others plan to continue working from home. Many businesses are allowing them to continue to work remotely as long as their performance stays the same. Having a hybrid workplace can be equitable, but it requires some changes. Continue reading to learn what areas must be addressed.

Leadership and Management

 Managers and leaders will need to have access to the tools and the equipment that is necessary to lead a hybrid workforce. They need tools to hire, connect, coach, mentor, and monitor employees who are choosing to work from home. It is challenging because it is necessary to change some of the processes that are in place, but it is critical for these managers to have access to everything they need to effectively manage a workforce that is both remote and in person.

Employees

Just as the leaders and managers need the tools to succeed, employees need the tools and the equipment necessary to work from a remote space. The primary need they have is technology, which they would have if they were working at the office. They need access to information, and they need opportunities for training and collaboration.

They need to have access to software and other tools that allow them to connect with other team members and management. Creating an equitable environment means making sure that employees have everything they need to do their job successfully.

Clear Policies and Procedures

Having a hybrid workforce requires clear guidelines, policies, and procedures. Some of the ones already in place must change because having remote employees is different. It is always easier to do things the way they have always been done, but when that happens, remote workers are left out. Reviewing and updating your policies can be good for the company and it will create more equity among workers.

It is challenging to change the company culture when you have a hybrid workplace, and it is important to make sure that everyone is treated equally. You will be able to attract quality candidates and retain the ones you have as long as everyone feels as though they are treated fairly.

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Cultivating Leadership Presence in a Remote Work Environment

As the world has rapidly changed and people transitioned to remote working, leaders were challenged to find new ways to be present. People need to see leadership so that they feel connected and know what is expected of them. It makes people feel more confident. Continue reading to learn how to cultivate leadership presence in a remote work environment.

Arrive Early for Meetings

Leaders can arrive early for meetings so that people can come and connect with them. As a leader, you can take a minute to see how everyone is feeling, and you will notice if anyone is stressed out or needs help. Make sure that you put your phone away so that people know you are present for them.

During the Meeting

While you are in the meeting, you need to sit up and keep your feet on the ground. Stay calm and confident so that everyone feels assured. Even if you are looking at people on a screen, you can maintain eye contact with the camera whenever someone else is speaking.

You should be dressed for a meeting even if you are having it online. Make sure that you are not distracted or fidgeting, and stay present and focused on the meeting. If you need to explore a topic further with someone, let them know that you want to schedule a one-on-one meeting when you can give them your undivided attention.

What to Do When the Meeting Ends

After the meeting, take a minute to clear your head. Jot down any important notes about the meeting. Make sure that you record any decisions that were reached and any actions that were taken so that you know. You don’t want to have details from the meeting jumping into your mind throughout the rest of the day.

Once you clear your head, you will be ready for your next meeting or your next task. You can also reflect on how you handled the meeting. It can be difficult to stay focused online, and it is tempting to check your phone or turn your camera off. Make sure that you didn’t do those things, and consider how you can be more present the next time.

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Improving Business Performance Through the Employee Experience

Leaders need to work towards creating a positive workplace by making sure that the employees are happy in their job. Leaders need to consider the changes that have occurred as a result of COVID-19 so that they can make the necessary adjustments. Some employees have grown accustomed to working from home, and they may prefer it.

Leaders need to make sure that they consider all of these factors so that they can create a positive employee experience. Continue reading to learn how to improve business performance through the employee experience.

The Hiring Process

With many businesses hiring online and allowing people to work remotely, they are no longer restricted to local candidates. The top talent can be picky about the job they choose because they have many more options now. One of the factors that they will consider is the employee experience. Consider how you can make the most of the virtual recruiting process, and how you can integrate the virtual and in-person interview process.

Onboarding

Another big change that came with the pandemic is the onboarding process. New hires aren’t always able to meet their colleagues in person, and people have less interactions with one another. It is important to create a positive work culture, and leaders need to optimize their approach. They need to do whatever they can to make sure that new hires have interactions with the team whether virtual or in person.

Performance

Another change is the reduced expectations due to the pandemic, as well as reduced accountability. There was a period where everyone had to learn how to work from home, and it is even more confusing with some people returning to in-person work, others remaining at home, and some doing a combination.

It is important to make sure that you have the same expectations for all employees, whether they are working from home or at the office. This may require making some changes to the way you used to run things. It also requires greater effort from managers to make sure that everyone feels connected and accountable, whether remote or in person.

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What to Do When Your Best Employee Quits

One of the results of the pandemic is that people seem to be changing jobs more than they have in the past. The changes that have taken place in the world and in business in particular have led people to rethink what they want to do. Some people want to continue working from home, and others want more flexibility. Continue reading to learn what to do when your best employee quits.

Take a Minute Before You React

Although you may feel as though you’re going to panic, it is best to take a minute to digest this news and think about it. Tell the employee that you would like to sleep on it and meet the following day. This gives you time to clear your head and come up with questions and things to stay that are more likely to have a positive outcome.

Make a Plan

Next, you need to figure out how your business will be disrupted by this departure. Determine who will fill in and cover the tasks that the employee was doing. When your best employee quits, you might need to divide up their tasks among a few different workers until you find a replacement. You need to know what they were working on, what clients are impacted by their departure, and how you will cover for them until you find a replacement.

Try to Get Honest Feedback About Why They Are Leaving

Make sure that you have a conversation and ask your employee why they are leaving. It is important to have this feedback so that you can implement changes if possible and prevent other employees from leaving. It is a great way to find out what you can improve in your company culture. Be sure not to take it personally, as there are many reasons why an employee might want to change jobs. Stay objective and look for information you can use.

Inform Your Team

Don’t wait to inform your team. You should call a meeting and get the word out right away before rumors start spreading throughout the company. You can reassure the other employees, and you may want to give them the opportunity to apply for the new job opening.

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