11 Quotes on Kindness That Every Entrepreneur Needs to Read

World Kindness Day serves as a reminder that benevolence can be good business. October 21, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. The business world is often portrayed as a highly competitive ecosystem in which you need to fight to get ahead. To a good extent, that’s very true. Entrepreneurs need thick skin, drive and intense focus to succeed. But it’s also important for entrepreneurs to remember the value of kindness.  With World Kindness Day coming up on November 13, take a few minutes to read these 11 quotes. They can all teach us important lessons about business, entrepreneurship and being good human beings.  1. “Remember there’s no such thing as a small act of kindness. Every act creates a ripple with no logical end.” — Scott Adams, Dilbert Creator and Author Businesses give you the chance to change the world and influence others. Kindness does the […]

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Keep These 4 Things in Mind Before Selling Your Small Business

October 16, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Selling a small business for the maximum value to the right purchasers on the right terms can be a tremendous challenge, even for experienced business owners. Buying and selling an existing company is a complex process, but one that should be demystified. At its most basic level, the process is straightforward, just like the purchase of a single item. The small-business owner sells the object (in this case, their own business) to a potential buyer for an agreed-upon price and mutually acceptable terms. Yet, as always, the devil is in the details — in this case how the deal is structured. With that in mind, here are four key things you’ll need to remember when it’s your company that’s being sold. 1. Understand the whole process. While every business sale has its unique features, we can outline a […]

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5 Science-Proven Ways to Improve Your Memory

From people’s names to sales data, there is a lot of information entrepreneurs need to be able to remember at any given moment. Here’s how to improve your memory and retain more information. October 14, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Memory creation and management is a complex process where the human brain collects, stores and recalls information that we need for various tasks. Yet these memories also play a more human role by helping you recognize and remember important people and special occasions. Some cognitive conditions, such as dementia, Alzheimer’s and Parkinson’s, rob people of the brain’s memory function. Yet even without these terrible diseases, busy entrepreneurs can risk losing stored memories and the ability to form and retain new ones. Our hectic lifestyles often mean little sleep which can hurt memory function.  Related: 15 Science-Backed Memory Tips to Help You Succeed (Infographic) Rather than let our […]

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Why Core Competencies Matter for Your Business

It’s time to take advantage of strategic strengths. September 27, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. You may have heard or read the phrase “core competency” lately and wondered if it’s the latest example of meaningless corporate lingo, or at best another buzzword representing a basic concept that could be described much more simply. The answer is not exactly. Core competency actually holds significant importance for entrepreneurs and small-business owners. The term first originated in a 1990 Harvard Business Review article by C.K. Prahalad and Gary Hamel titled “The Core Competence of the Corporation.” The authors identify their titular concept as the “secret sauce” of business, enabling corporate growth, especially for an executive who can leverage that competency. It’s a good idea to learn more about this critical business concept and then determine your company’s core competency for maximum gain, and here’s an easy, three-step process to that end. Define Core Competency First, let’s establish a working […]

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Assign These 7 Tasks to Your Virtual Assistant

Hiring a freelancer can cure your delegating woes. September 24, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. One of the biggest challenges for entrepreneurs involves staffing and delegation. It can be hard to know when to hire full-time or put extra help in place and how to do it the right way. Small businesses and new entrepreneurs might want to consider the virtual assistant, or VA. A VA is basically an independent contractor or freelancer who performs support-staff tasks and functions, often while working from home or co-working spaces or even the neighborhood coffee shop. Working with a VA can feel awkward and confusing at first, so let’s look at seven categories of tasks that are especially suitable for delegating to this new team member. Research Most new businesses have an insatiable appetite for information. Entrepreneurs need to collect data about potential clients before a sales presentation or research new developments or products in related industries. VAs are well-positioned to take care of these research-related tasks and […]

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How to Keep Gen X Employees from Leaving Your Company

Strategies for keeping valued Gen X employees engaged in your business. September 4, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Employees in Generation X (those born between 1965-1981), have spent decades cultivating necessary skills in their industries. Many feel it’s time they should advance in their careers, however, recent research from consulting firm DDI shows 66 percent of top talent in this age group say they’ve received only one promotion, or no promotion, in the last five years.  With Gen X often not seeing the perks for loyalty to businesses or dedication to industries, you may soon have an employee turnover issue on your hands. But keeping Gen X employees from leaving your small business doesn’t have to be difficult. Here are some ways to keep the often-overlooked generation before it becomes a problem.   Reward loyalty and skill  A report just released this year by Metlife […]

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How to Excel at Work Even If You Hate Your Job

It’s the only true cure for a case of the Mondays. August 22, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. When that alarm clock goes off on Monday morning, many of us may groan about the start of another work week. There’s a difference between that near-universal feeling, however, and realizing, “I hate my job.” Your company’s policies and culture, your co-founder, co-workers or leadership responsibilities may be to blame for bad days. No matter the reason, hating your job can have a huge impact on your life. The most frustrating part is no matter how much you hate your job, you may not be able to quit. Perhaps you started your own business and you’ve put so much effort into it, you can’t stop now. Perhaps you make enough money to pay a large mortgage, rent or other bill. Maybe you need to support your […]

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4 Common Traps When Starting a Nonprofit

What to watch out for before launching your altruistic business. August 12, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. The idea of creating, running and growing a successful nonprofit organization appeals to a lot of entrepreneurs and business leaders. That makes sense, since those who hold leadership roles tend to value the notion of improving conditions for underserved communities or want to advance environmental and social causes important to them. However, it can also present a minefield of potential traps for the unwary to navigate. That’s why it’s important to identify the following potential obstacles before you undertake the arduous process of securing 501(c)(3) status from the Internal Revenue Service.  1. A 501(c)(3) nonprofit is limited in many ways. The 501(c)(3) is what most of us think of when we say “nonprofit.” It’s an entity named after the special section of the tax code that governs it, and it’s limited […]

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How to Delegate Better and Become a Great Leader

From productivity to company morale, here are the many benefits of delegating responsibility. July 30, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Stop me if you’ve heard this one before: You need to delegate if you want to be a more effective leader. Delegating to the right people is important to entrepreneurs and business owners for many reasons. Yes, it saves you time that you can then spend on more high-value tasks. However, that’s not the only reason proper delegation is so important in running a business. It also prepares employees for promotion and bigger responsibilities.  Related: 7 Rules for Entrepreneurs to Delegate Effectively If you want to help your key team members reach their goals, advance in their careers and provide more value to your company, it’s essential to learn to delegate like a boss.  1. Understand what’s holding you back from delegating now.  Frequently, micromanaging bosses shy […]

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Why Hustle Culture Might Be Toxic to Your Business

Debunking a modern myth about company productivity. July 30, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Two competing trends are fighting for the souls of millennials. On one hand, there’s the much-documented commitment to the hustle, side or otherwise. On the other, there’s a backlash to hustle culture. In other words, a commitment to long hours of hard work to earn success has been widely celebrated, but is this tendency turning toxic and actually hindering entrepreneurial goals? Here’s why glamorizing workaholism may be hazardous to your physical and mental well-being, as well as potentially damaging to your business. Hustle culture sets up unsustainable expectations.  Take this image that made the rounds on Twitter last fall, which read: “Don’t stop when you’re tired. Stop when you are done.” It may sound admirably tough and gritty, but it’s not a sustainable approach. If you never stop when you’re tired, you’re […]

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6 Ways Exhausted Entrepreneurs Can Combat Fatigue

Stop being a work martyr for at least eight hours per night. June 18, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Running a business can exhaust you. That’s why it’s crucial to keep an eye on your energy levels and to address a chronic case of low energy as soon as possible. Fatigue can mean anything from a chronic lack of sleep to a serious health condition. It can be caused by lifestyle factors, as well as by a long list of physical and mental conditions. If your fatigue symptoms are accompanied by other serious symptoms, it may best to proceed directly to your doctor or nearest emergency department. Otherwise, follow the steps below to figure out what’s making you exhausted. 1. Check your sleeping environment. The most common (and obvious) cause of fatigue is also perhaps the easiest to remedy: insufficient sleep. Begin by examining the […]

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What to Consider When Hiring Employees

You need someone who can do the job and who fits in at your company. It has to be both. June 4, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. One of the most important acts of running a successful business is hiring employees. A bad decision can hurt your customer base, efficiency and profits. Use these considerations to arm yourself with the right employees when hiring. Consider skills and personality when hiring. Both skills and personality are important to consider when hiring. Making sure your potential employee has the right skill set for the job is crucial to ensure you are choosing the best candidate to meet your business goals. Asking good questions during the interview is a sure-fire way to hire employees with the right set of skills and the ability to use those skills successfully. You want someone with the knowledge as well as […]

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8 Non-Work Related Activities That Increase Productivity

Productivity results from how you live your life. May 28, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Productivity can change the game for any type of work. But, achieving high daily productivity levels can be a challenge. There are days when you get in the flow, working efficiently and smoothly, leaving you with a sense of pride at the end of the day. Then there are times when it feels like you just can’t get started. Sometimes there are distractions, and other days it feels like there’s no solid reason why you’re struggling. Instead of feeling stilted and stuck at work, try out these activities to help improve your workplace productivity. Boosting Productivity at Work If you’re frustrated, tired or simply can’t get yourself into a state of productivity, it may be time for a break. A 2018 Gallup survey found two-thirds of American workers […]

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How to Be a More Likable and Charismatic Leader

Charisma is a set of social skills that can be learned and improved upon. April 30, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Some people automatically draw others closer. They’re believed right off the bat and are so likable they can seemingly persuade others of anything. This charisma offers obvious benefits for an entrepreneur or business leader. Inexperienced nineteen-year-old Elizabeth Holmes convinced people like Henry Kissinger to be on the Theranos board of directors, demonstrating how powerful charisma is and how important it is for likable leaders to be guided by strong moral principles and values. How do charismatic people persuade others to agree to so much? And how can entrepreneurs and others boost their charisma to win more people over with less effort? Charisma is usually thought of as an inherent trait or characteristic, yet the truth is that it’s perhaps equally a skill, or rather a set of skills […]

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Be Careful How ‘Fyre’d’ up You Get About Influencer Marketing

Fyre Festival was an immense marketing success, which set it up to be an epic failure in execution. February 26, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. You’ve heard the one about the disastrous music festival that never happened. Of course you have. With two documentaries (one on Netflix, the other on Hulu) and countless articles about it, the Fyre Festival debacle has penetrated the global zeitgeist. Yet beyond a healthy dose of schadenfreude, the failure of Fyre certainly offers some valuable lessons in marketing and branding, specifically regarding its influencer campaign. Leasing the social media “real estate” of supermodels and other Instagram influencers is certainly nothing new. Fyre Festival organizers paid Kendall Jenner an astonishing $250,000 for a single Instagram post (since deleted) and that was only one instance. Now Jenner and other models and Instagram influencers may have to testify in bankruptcy court about […]

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Can’t Afford an MBA? Read These 6 Books to Educate Yourself Instead

An MBA is an extended and expensive networking opportunity but not the only way to educate yourself about business. January 8, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Many entrepreneurs find themselves, at one time or another, wondering if they should go back to school to earn an MBA degree. It’s an understandable concern. The advanced degree seems to be ubiquitous in the C-suite, and the process of acquiring it brings many opportunities to forge relationships with other future leaders. On the other hand, as with any master’s degree program, the MBA is costly to obtain. It also requires a serious time commitment that many working business owners simply cannot make. Fortunately, you can gain that same functional education through intensive readings of the best available sources. This post isn’t about the best business books ever published, however. It’s about staying up to date with the […]

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6 Top Mistakes New Entrepreneurs Make and What to Do Instead

Every entrepreneurial journey is unique, but the mistakes entrepreneurs make are not. January 1, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. The process of planning, launching and running your own business is a heady time, full of long hours and exciting challenges. Pure adrenaline, excitement and sometimes lots of caffeine propel new entrepreneurs through hazy days that often run into one another. Some days, it feels as if there isn’t time to breathe, much less reflect. That’s why it’s crucial to pinpoint the known danger spots that can trap new entrepreneurs before they get caught by those traps. Here are six top mistakes new entrepreneurs often make, along with tips on what you should do instead. 1. Blundering Into IP Disputes Intellectual property is just like any other kind of property. It can be misappropriated, stolen and used without authorization. But even innocent uses of someone else’s IP, […]

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5 Steps to Investing Wisely in Human Capital Development

Investing in your workers is always cheaper than training their replacement. November 27, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. “Human capital development” has definitely achieved buzzword status. As a phrase, it’s ubiquitous in the entrepreneurship and business-oriented press. You can even study it through a certification program at an Ivy League university. But what, exactly, is human capital development? More importantly, why is it so important for business success, and how does a small business owner go about actually investing in it the right way? Sure, it might make sound financial sense — and constitute a relative drop in the budget bucket — for a large company. But, does it even make sense for smaller businesses, with smaller budgets that may already be stretched thin? Use the following five-step program to create your company’s best human capital development strategy and tactics. 1. Understand what human capital […]

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5 Unspoken Rules for First-Time Bosses

It’s a lot to get used to, even though it’s what you wanted. November 13, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. We enjoy an embarrassment of riches when it comes to leadership and entrepreneurship resources. From blogs to white papers to scholarly articles published online, there’s an answer to almost any question you might have about any aspect of owning and operating your business. And yet, there are still some things that you won’t ever truly learn until you actually take over. In this article, let’s pull back the curtain and look at five of those unspoken rules about becoming the boss. Related: 6 Effective Tactics for Handling a Toxic Boss 1. It’s lonely at the top. I mean, it can be really lonely. Once you’re in the top spot of leadership in your company, whether you built it yourself or climbed the ladder from more entry-level positions, […]

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Health Care Is Freelancers’ Biggest Concern

Freelancers want laws that promote more flexible working conditions, a more equitable tax system and higher wages. November 6, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. A just-released research report from Fiverr finds more than 40 percent of freelancers see health insurance as the most pressing issue they’re facing leading up to the 2018 midterm elections, while  41 percent of “side hustle” freelancers say benefits is a key reason why they maintain a full-time job. The online freelance platform interviewed more than 1,200 freelancers for “The Freelance Political Perspective Report.” Freelancers answered a series of questions on unique challenges they face as well as various political issues that affect them. Related: Single-Payer Health Insurance Could Help Would-be Entrepreneurs Quit Their Jobs to Pursue Their Dreams Freelancers and non-freelancers agree and disagree on major issues. According to the report, freelancers share many of the same views as their […]

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