5 key Leadership Skills for Entrepreneurs

21 May 2019

Making the business grow is the dream of every entrepreneur and they always try the best methods to make their business grow in the right direction. Besides hiring the best and talented team for his business, it is very much important that he should have some skills that can be leadership skills, and today in this blog we will make you aware of all those skills. So, let’s check for the information which is beneficial for you if you are running a business.

Must be supportive:

Whether you are running a small scale business or the large one you should be supportive of your employees. By doing so, your team can boost their confidence level and this helps them in feeling motivated. You should make your employees learn from their mistakes. You should have a meeting with your employees and make them share their problems along with you for the better of the company and to make the company achieve success.

Must have great communication skills:

Having great communication is very much important in every field of life. Having great communication skills is helpful in reducing all the barriers between the clients and your business. In this case, when you will have poor communication skills, then there can be a misunderstanding between you and your clients. Additionally, if your position requires you to frequently communicate with the media, that can make things even more difficult. Consider attending executive media training workshops to make sure you’re always communicating in the best way possible.

Must be learning:

For being a successful leader, you should skill on a timely basis. Sometimes, you have to learn from your employees and you should never hesitate from learning from them. You should create a learning environment for your employees so, that they can also enhance their knowledge for the benefit of your company. You should encourage your employees to learn more and more so, that their skills can benefit the company.

Must be honest:

Honesty is the best that a company owner must have, as this helps them in becoming an exceptional leader and a better entrepreneur. They must be honest, as this can only help them in gaining the trust of their employees. Employees always love to work in those companies where there is trust among the employees and the company owner. You should be honest with your employees and you should share positive as well as negative feedback among your employees.

Must share success stories:

Sharing the success story or the previous history among the employees of the company can help the employees in boosting their confidence level. In case if the company gets success due to any employee of the company, then you should mention his or her among the other working professionals of the company. So, that they will feel motivated in making the company feel proud.

By following all these skills you can make your employees love your company and they always love working for you. So, attain all these skills for making your company better and the best than the others. You can also follow some successful business Leaders like Adam Arviv. Adam Arviv Toronto is an Entrepreneur & Investor from Canada and President at Will-Power Management Inc.

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Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Best Business Meeting Agenda Examples

A few things at work can be as frustrating as an unorganized or pointless meeting. These meetings waste time that can be spent on getting actual work done. Agendas are a good way to prevent unproductive meetings because they compel attendees to prepare in advance, set clear goals, manage time, and stay focused. An effective agenda establishes expectations of what is to transpire during the meeting, thereby increasing its overall productivity. It helps the team address important issues quickly. Lack of productivity is no joke. According to Atlassian, hours lost in such meetings cost businesses an average of $37 billion a year. Agendas can be formal or informal, short or long. In every event, they should be as simple as possible. Without further ado, here are some excellent meeting agenda examples. Best Formal Agenda Examples: Most meetings start with standing items, which include team status updates and other items that are always on a regular meeting agenda. A meeting facilitator takes attendance and approves the minutes in the end. After the updates, the new topics are introduced. The agenda should have a list of topics, the name of a person responsible for each one, and a certain period of time allocated to each. For example: Cory - Discuss sales quotas (15 minutes) Once discussions of new topics have been closed, you can move on to previous ones that weren’t completed. For example: James - Employee engagement survey update (20 minutes) Sean – Sales hiring update (30 minutes) At the end of the meeting, review action items and schedule a new meeting if necessary. These will be the last items on your agenda. Less formal agendas will have far fewer items. Below is an example: Intro (5 minutes) Review quarterly marketing plan (15 minutes) Review sales metrics to date (15 minutes) Discuss proposal for next quarter’s marketing goals (10 minutes) Agree/disagree with proposed goals (10 minutes) Long Agenda Examples: The above examples were formal and informal but in both cases short agendas. Long agendas are typically segmented in three parts – theme, discussion, and structure. Here’s some detailed information about each of these. Theme: Segmenting an agenda by themes or topics will set out clear expectations. Without such, a meeting can become chaotic and unproductive. If it proves challenging to establish topics in advance, consider inviting an expert facilitator to the meeting. They will ask attendees what they want to talk about and why. The topics have to be relevant to all the people present. If a topic is only of interest to one person or a small group, everyone else will feel like they’re wasting time. Discussion: Next, move to discussion of the topics. Sending the agenda out before the meeting will make it possible for attendees to prepare in advance. Then, everyone will be up to speed and prepared to contribute. You’ll have more insightful and deeper conversations because people won’t have to waste time going through issues they’ve prepared for. Structure: Finally, you need a specific set of steps to address each theme on the agenda. Participants will know what to expect and talk about at every stage if you assign certain talking points within a suitable time frame. Long Agenda Sample: Your topic might be “Steps to better exposure of the company.” To prepare for the discussion, you could have people focus on newsletters, emails, and data on subscription and engagement. The structure including reviewing and analyzing this data, pinpointing key issues, and drawing conclusions. You could allocate 40 minutes for this. If you conclude that engagement is poor, discuss possible reasons for this. Ask attendees why they believe this has happened. This would take about 30 minutes. Finally, spend 15-20 minutes talking about improving your newsletter or email subscription strategy. Read Also: Components Of A Successful Business Function How To Plan A Successful Corporate Event Looking For A Gardener: 8 Questions To Ask Before Hiring A Professional

Essential Logistics Terminology Every Entrepreneur Should Know

The logistics sector is booming, as more and more entrepreneurs launch online businesses, and the industry has spawned many terms that are used to describe processes and applications. In order to help you gain a better understanding of the logistics industry, here is a list of common terms. Essential Logistics Terminology Every Entrepreneur Should Know: Order Fulfilment When a customer fills their online shopping cart and heads for the checkout, they then select a payment method, and after that, the order now has to be fulfilled. Order fulfillment includes picking, packing and transporting the items to the buyer’s address. If you would like to outsource your order fulfillment, check out the 3PL logistics service by TIFS, a leading Australian company that can supply a tailored solution to your business. 3PL This term means Third Party Logistics, which is a company that is set up to provide picking, packing & delivery services to their clients. If, for example, an online retailer is experiencing growth, they will soon reach the point where they struggle to fulfill orders, and that’s where the 3PL provider comes in. Cargo Manifest A list of all the items that are included in a shipment, the cargo manifest does not contain any information about cost, and every agent that handles a consignment would see the cargo manifest at some point. Carrie A company or organization that moves freight from one location to another; a single shipment might involve 3 or 4 carriers, using the road, rail, and air transportation to ensure that the delivery arrives on time. Customs Clearance This set of papers means the cargo can now be released by the customs people and the carrier can take it on the next stage of the journey. While the officials do their best to clear freight, some ports of entry are extremely busy and clearance can take a while. Customs Duty This is a fee levied by a government on imported goods, with every category having its own duty rate, and once the duty is paid, the consignment can be cleared for release to the carrier. ETA Estimated Time of Arrival, which is often used when a person wishes to know the expected date and time of the delivery of goods. This is always found in email correspondence, and a client might ask the freight company for an ETA on their goods. Full Container Load FCL means the container is full, either by volume or weight. Gross Weight This is the combined weight of the goods, packing material and the container. Net Weight: The weight of the goods only, with every other item, removed. If you run an online retail business, order fulfillment will always be on your mind, and by talking to a local third-party logistics provider, you can outsource this critical element of your business to a professional who has both the know-how and the resources to ensure that your customers receive their orders in a prompt and professional manner. The 3PL company can tailor their services to suit the client, and some businesses use a 3PL provider during the busy time of the year, while others totally rely on their services. Read Also: What To Look For In A Transcription Service Provider 5 Features To Look For In A Business Energy Provider The Rapid Growth In The Global Industrial Automation Market And Its Career Opportunities

Investing in Precious Metals

Add precious metals to your investment portfolio for diversification and security, but make sure to select wisely as each type of metal and investment vehicle has its own set of benefits, risks, and drawbacks. Protection From Economic Uncertainty Gold and silver have long been seen as symbols of wealth and currency, providing safe investments during times of economic instability. Furthermore, these precious metals have numerous industrial uses including jewelry production and electronics manufacturing that keeps demand for them at an all-time high. This demand ensures their prices will always remain elevated. Gold and silver investments are also an excellent way to diversify your portfolio, according to many financial advisors. Diversifying includes stocks, bonds, mutual funds, and exchange-traded funds as an overall approach, but adding gold or silver may further lower risk by spreading out your investments across many asset classes. There are various methods of investing in these types of assets, from purchasing physical bullion (gold, silver and platinum coins and bars) to investing in mining companies that produce these products. You can click here to learn more about investing in mining companies. Both options provide tangible investments but some may incur higher storage and insurance costs. Furthermore, physical bullion is subject to higher capital gains tax rates when sold compared with other investments. Alternative purchasing options exist through rare earth elements royalty and streaming companies. These firms own the right to receive set quantities of these assets over time for a fee, offering diversification without incurring additional risks in owning physical bullion. An alternative approach to precious metal investment is investing through your 401(k) or another retirement account, providing diversification with tax-deferred savings benefits. However, before making any decisions related to your retirement plan it is advisable to seek guidance from an independent advisor. Others choose to partner with a well-known company like Goldco for their investments. It is important to do research on any company or advisor you are considering working with. Diversification Diversifying your portfolio is one of the main tenets of investing, as this helps reduce risk when stock markets crash or unexpected market events take place. One way of diversifying is adding precious metals as their price usually follows different market trends from stocks and bonds. You can click the link: https://www.investor.gov/what-diversification for more information. Investors can purchase physical rare earth elements such as gold, silver and palladium or invest in investment products derived from these assets - including mining stocks, streaming companies or royalty companies that generate revenue through sales of rare earth elements, ETFs and mutual funds that specialize in these types of investments, and futures contracts. All these options provide investors with the diversification benefits they seek, yet each presents unique risks and opportunities. Gold bullion, for instance, is one of the direct forms of investments, but requires significant storage space to hold. Furthermore, its initial costs may make entry more challenging. Precious metals-based investment products offer lower barriers to entry, but can still carry risks, including those related to mining companies' share prices falling due to cost overruns, mismanagement or financial issues. Gold and silver tend to increase in value during periods of economic unease as they serve as safe havens. Furthermore, their widespread applications such as jewellery making, electronics production and batteries make them likely safe bets as the world continues its advancement and progresses further. Investors can also use precious metals as a hedge against inflation and to preserve their purchasing power over time. As interest rates and printing of money by the Federal Reserve increase and cause the dollar's value to decline, the price of commodities such as gold and silver are impacted. Exchange Rates Precious metals provide an alternative form of money that's resistant to inflation and economic uncertainty. Due to their intrinsic value and the "safe haven" reputation they enjoy as investments, physical bullion may make for an excellent addition to any portfolio - though investors should carefully consider their financial situation, strategy, and long-term goals before making decisions regarding these types of investments. Precious metals have become an increasingly popular investment choice among investors looking to protect their wealth against economic instability and inflation. Precious metals provide investors with an effective, stable way of diversifying their wealth as they are less volatile than stocks or other investments which may experience sudden drops. Furthermore, precious metals provide tangible assets which can easily be converted to cash. Investing in precious metals is an excellent way to safeguard against inflation and other economic risks; however, it is wise to conduct thorough market research before making decisions and consulting an expert about which options are suitable for your particular situation. Security Even though precious metals can be bought through traditional brokerage accounts, most investors prefer investing directly in physical precious metals by purchasing and storing physical precious metals themselves. While this method may be more costly than trading stocks or bond ETFs or mutual funds, having physical precious metals in your hands provides instantaneous access when economic uncertainty strikes - an invaluable asset during times of economic uncertainty. Physical precious metal investments offer another distinct advantage: They're private assets. You are the only one who knows exactly the details of your portfolio, which makes it more secure than many modern investments. This feature is especially advantageous for families that wish to shield their wealth from outside financial consultants or government agencies. Each metal has different economic sensitivities, technical properties and uses. Gold is often used for ornamental purposes in jewelry design while silver has multiple industrial applications including electrical appliances, medical applications and batteries. Meanwhile, palladium shares many of the characteristics found in platinum but has even greater industrial uses as it's used in automotive catalytic converters, ceramic capacitors in chargeable electronics systems, groundwater treatment processes and manufacturing processes. Though investing in precious metals may provide many advantages, it is also crucial to be aware of any associated risks. Diversifying your portfolio and finding a dependable broker or dealer is crucial when purchasing and selling precious metals. Read Also: Is Investment Bankers/Brokers/Service A Good Career Path In 2021? 5 Reasons Why Bitcoins Are Considered Reliable Investments 5 New Assets To Diversify Your Investments In 2021

5 key Leadership Skills for Entrepreneurs

Must be supportive:

Must have great communication skills:

Must be learning:

Must be honest:

Must share success stories:

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Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Best Business Meeting Agenda Examples

Essential Logistics Terminology Every Entrepreneur Should Know

Investing in Precious Metals

5 key Leadership Skills for Entrepreneurs

Must be supportive:

Must have great communication skills:

Must be learning:

Must be honest:

Must share success stories:

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I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Follow Us

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