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How to Identify a True Leader The success of a business lies in the hands of its leaders. The culture of a business is first established in the workplace, and leaders set the tone. Businesses will crumble under leaders with unattainable goals, a lack of vision, broken communication or big egos. With the right leaders, businesses will soar. With so much on the line, it is critical to be able to identify top leaders. How to identify leadership skills 1. Observe their character and work ethic. Before deciding if someone is a fit for a leadership role, you want to determine what you’re looking for in a leader. You need to know what characteristics and work ethic you want your company leaders to have. From that point, you can begin to observe which of those qualities you see inside the workplace and seek out potential leaders. Marcel Schwantes, principal and founder of Leadership from the Core, talks about ways to identify a leader within a business. He explains that great lea...

Opinions expressed by Entrepreneur contributors are their own. Short-term business goals are the secret ingredient to achieving long-term company goals. Short-term goals act as the bridge between the broad, strategic view of the C-suite and the focused, tactical lens of managers and employees by breaking the over-arching vision into smaller pieces. They allow employees to take on manageable workloads while demonstrating progress towards that larger goal. When setting short-term goals, you must define how, how much and who. These components are critical for turning strategic planning into tactical execution. The How: Defining objectives If the goal is the destination, then objectives are the directions. Objectives are tactical steps taken to achieve an outcome. But like directions, there can be more than one way to reach a destination. It's important to remember that unlike goals, which are fixed, objectives can be changed. How a goal is achieved is not as important as at...

Do you know what your business is worth?  Most entrepreneurs don’t have a solid understanding of what their business could be priced at in the marketplace, or how to even begin calculating its value. If your business is one of your—if not your biggest—assets, wouldn’t it make sense to have a plan in place to increase its value? The decision to sell a business is not one to make lightly. As one of the most significant moves a business owner can make, it’s important to make sure you enter the situation well-versed in the nuances of valuation so you can set yourself up for success and build a business that’s sellable from the start. Even if you have no immediate plans to sell what you’ve built, it’s important to gain insights on what strategies to use to grow your business so that you’re always positioned to capitalize on your investment. To help you navigate the multiple facets of business valuation, we’re bringing you a free webinar called Your Business and Its Value: How ...

To say that 2020 was a year of ups and downs is putting it lightly. It was especially turbulent if you are a business owner. Your company likely had to contend with some major upheavals, stressors and challenges. In fact, 92% of small businesses reported that they had to “reinvent themselves” in order to weather the Covid-19 crisis.  But it’s a new year, and as we celebrate the deployment of the first Covid-19 vaccines, we’re all hoping that we might be seeing the faintest light at the end of the tunnel. 2021 will be another year of reinvention and, we can all hope, a better and brighter one for the growth of our businesses.   A couple weeks ago, I got in touch with social media guru Luke Lintz. At just 21, Lintz has built the incredibly successful HighKey Clout Inc., a social media, marketing, branding and technology group. We had a great conversation about how to grow your business and your customer base.  I thought I’d take the chance to share some of the insig...

With the economy being as uncertain as it is today, it’s no wonder that a lot of business owners are looking for ways to improve cash flow for their companies.  Here are a few tips that you can use to manage and track the money that flows in and out of your business:  1. Factoring Invoices  Invoice factoring is an innovative, business-friendly alternative to traditional bank-backed financing methods. It gives your small business immediate access to the working capital you require, without debt to pay or any other strings attached.   Take a look at the following factoring benefits:  Save Time And Money: When you’re factoring invoices, a private factoring company purchases your pending invoices, or invoices that haven’t been paid yet by your customers. The factoring company pays a percentage of the total receivable amount, and takes on the burden of collecting payment from your customers. This saves your business significant time and money that you would’ve...

By Jennifer Barnes, the CEO of Optima Office, Inc, which provides accounting and HR services, from CFOs to bookkeepers, on a part-time basis.  In the first quarter of this year, a U.S. Chamber of Commerce study found 80% of small business owners felt comfortable with their cash flow, but by April, that number had dropped to only 59%. On average, businesses have 27 days of cash flow. Because of the novel coronavirus pandemic, many companies shut their doors. For a business, running out of cash while trying to pivot through this volatile and highly competitive market can be devastating. Here are seven tips for improving your business’s cash flow during this difficult time:  1. Leverage automation within your current systems.  If using an enterprise resource planning (ERP) system, make sure your accounting team is trained on all its automation features so they can spend less time on manual data entry. This frees them up to focus on more value-add tasks that help grow your...

Learn New Tactical Marketing Growth Strategy Discover new tactical marketing growth strategies from other people's experiences that give you the edge and good lessons. Read more articles, business books and ask yourself. Do you need more cash in your wallet? Does this platform help small and medium size industries to increase revenue including software and app products? Difficult to find an Integrated facility to enhance the company's capabilities? Potential diversity and respect for culture and know each other. Many examples of systems and logistics make it easy for the public. But some potential companies are unable to maintain momentum to achieve the target. Overflowing with cash should be taken care of carefully. Find projects that provide long-term benefits to each other Business development plan for small entrepreneurs Many companies are exploring new service sectors and new economies in the circle. Similarly, large companies compete with each other in the ...