Lillian Gregory

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Though an investment of time, effort and money do make entrepreneurship easier, leaders should still expect to encounter challenges. The entrepreneurial journey is full of highs and lows for every business leader. And even when a leader has considerable resources, there is no way to completely avoid encountering business challenges. While these hurdles can completely shake a business, they can also double as valuable learning experiences that help entrepreneurs grow and develop their skills as leaders. Below, 17 Newsweek Expert Forum members each share one specific business challenge they believe usually results in a great teaching experience and what lessons leaders can carry forward into the future.

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Committing to building a culture of unwavering customer centricity can effectively transform your business for the better. From Fortune 500 companies to startups, companies that prioritize customer centricity stand out in the market. They understand that customers are more than just revenue sources—they are the foundation of business survival and expansion. A customer-centric culture places the customer at the heart of every decision, fostering trust, loyalty and long-term relationships. But how can businesses truly embed this philosophy into their culture? Below, 20 Newsweek Expert Forum members explore the most effective strategies to cultivate a customer-centric culture within an organization and delve into the reasons why these approaches are vital for sustainable growth.

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Engage seasoned professionals can empower aspiring individuals and foster lasting impact through mentorship, internships, education and networking. To maintain success, it is not only essential for leaders to focus on the present but also to invest in the future by empowering the next generation. By sharing knowledge, providing guidance and offering opportunities, experienced professionals can play a vital role in helping young talent thrive. Below, 17 Newsweek Expert Forum members explore various ways in which successful business owners and leaders can reach out and give the next generation a leg up. By actively engaging with and supporting the next generation, business leaders can foster a culture of innovation, inclusivity and continuous growth while leaving a lasting positive impact on future generations of professionals.

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Increasing the reach of job postings can be as simple as making a few changes to the required qualifications. Over the last few years, many businesses have begun recognizing the benefits of cultivating a workplace that welcomes diversity, equity and inclusion. This kind of environment not only helps the business to better cater to the changing needs of customers, but it also helps to attract and retain high-caliber talent that greatly contribute to the business’s overall success. Unfortunately, while employers are actively seeking diverse candidates, finding these applicants is proving difficult in a tight labor market. To help, 11 Newsweek Expert Forum members each share one strategy recruiters can leverage to ensure their job postings are reaching a diverse group of candidates.

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To attract and keep customers coming back for years to come, businesses have to maintain their human essence. As the old adage goes, "People buy from people." In today’s technologically-driven business landscape, entrepreneurs now have a multitude of ways to engage with current and potential customers across the world.  While changes like automation can increase employee productivity, streamline operations and boost the number of interactions that lead to sales, many businesses focus so much on the efficiency aspect that they don’t recognize the potential of losing the human touch, which is what initially entices customers to purchase and keeps them coming back. As experts, the members of Newsweek Expert Forum have experience making their brand more appealing to customers. Below, 16 of them share concrete ways any business can humanize its product or service offerings and why these actions are essential to building long-term relationships with customers.

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An exceptional customer experience is the key to keeping current customers coming back as well as enticing potential customers to purchase. Many entrepreneurs tend to consider their products or services the most important part of their business. As a result, a significant amount of time, effort and money goes into developing what people may need or want.  However, the utility or desirability of an offering is only a small part of what actually entices customers to buy. Rather, a top-notch customer experience can be the differentiating factor that convinces current customers to keep purchasing and potential customers to give a business a chance. Luckily, making changes to a business’s customer experience can be a simple process. To help entrepreneurs ensure they are properly taking care of their customer base, 17 Newsweek Expert Forum members share “low-hanging fruit” ways for businesses to effectively improve their customer experience.

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Seeking out and actively encouraging employees to share their opinions is critical to making the right business calls. Businesses of all sizes are constantly making decisions that have a considerable impact on the entire organization. The gravity of these decisions as well as the chances of conversations sparking disagreement and sowing team division may cause some leaders to limit discussions to a select few. Fortunately, safeguards can be put in place to add employees at all levels into the conversation, effectively limiting conflict, keeping discussions respectful and allowing individuals to offer insight without fear of negative consequences. To help businesses create space for various perspectives and set boundaries, 15 Newsweek Expert Forum members share approaches leaders can leverage to encourage vigorous, yet respectful debate in their organizations.

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Business leaders can make data-driven decisions that drive growth and success for their organizations by leveraging data and analytics. In the age of big data, businesses are faced with an overwhelming amount of information to process and analyze. To stay ahead of the competition, leaders must leverage data and analytics to make informed decisions and identify areas for improvement within their companies. By utilizing data visualization tools, predictive analytics and machine learning algorithms, leaders can gain valuable insights into customer behavior, market trends and business operations. Below, 14 Newsweek Expert Forum members shared several ways that leaders can use data and analytics to improve business performance, increase productivity and drive innovation.

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Devising simple ways to make the customer journey more seamless can keep customers coming back long term. In today’s competitive business landscape, the devil is in the details. With so many businesses competing for customers in both online and brick-and-mortar spaces, setting a business apart boils down to the customer experience strategy. If done incorrectly, businesses risk inadvertently driving away current and potential customers and ruining their reputation for good.  However, if done with care and regard for the needs of customers, businesses can rise above their competitors, even if they are offering similar products or services. To help leaders create a competitive advantage, 17 Newsweek Expert Forum members discuss how leaders can improve their company’s customer experience.

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Focusing on how a potential offering makes sense for the business as a whole can help guide efficient product development. Before any new product or service is rolled out on the market, entrepreneurs put a considerable amount of thought into the process. From considerations regarding the effective use of resources to discussions of whether the offering will resonate with the target audience, these are just a few of the factors that impact decision making. While entrepreneurs strive to proceed with care, some still make the fatal mistake of getting too far into the development process without having a clear understanding of where this offering fits into the bigger picture. To prevent businesses from wasting limited time, effort and money, 13 Newsweek Expert Forum members each share one question leaders should ask to determine whether a prospective product or service is in line with their company mission and goals. 

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Leaders often have many things and people depending on them. When every decision made can have far-reaching consequences, it’s not uncommon for some leaders to be stressed or apprehensive about making the wrong call. Rather than letting their negative emotions get the best of them, and potentially lead to important decisions being delayed, it’s crucial to determine what processes will produce the best decision possible for a given situation. As leaders themselves, the members of Newsweek Expert Forum are well aware of the importance (and downsides) of decision-making. To make the process easier, 14 members offer advice to help leaders better manage the paralysis and anxiety that can occur while making critical decisions.

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Success in any industry, including technology, often depends on how well a company can keep up with the latest news and trends in its field. In today's rapidly evolving tech landscape, it's essential for organizations to stay up-to-date with the latest industry changes to remain competitive and relevant. Failure to keep pace with the latest trends and innovations can result in missed opportunities, loss of market share and ultimately, business failure. To stay ahead of the curve, organizations need to continuously educate themselves on the latest technological developments, anticipate emerging trends and be ready to adapt their business models accordingly. To help you do this, 15 Newsweek Expert Forum members shared some of the best ways for organizations to stay informed about industry changes in tech and explained why doing so is crucial for their long-term success.

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To create an effective leadership team, it's important to consider everything each candidate can offer the business. Across industries, leadership plays an essential role in the success of a business. These leaders set the tone of the organization as a whole, impacting not only operations and decision making, but employees and customers as well.  To build the right leadership team, companies have to be willing to take their time with the process as every misstep could potentially negatively impact the business long term. Below, 14 Newsweek Expert Forum members explore common mistakes organizations make when assembling a leadership team and share advice on how those errors can be corrected.

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Rather than perpetuating the same old top-down power dynamics, leaders can instead prioritize employees' needs. The role of company culture in many businesses has changed in recent years. This has meant moving away from traditional power structures where leaders decided the business path forward to systems that focus on intentionally giving employees a seat at the decision-making table.  While these efforts have proved fruitful for attracting and retaining employees, fostering a supportive internal culture is an ongoing undertaking that must regularly be assessed. As experts, the members of Newsweek Expert Forum understand the key role that leaders play in maintaining company culture. Below, 15 of them share their best advice on how leaders can create and sustain a supportive internal culture.

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Reaching out to peers for support is a great way to work through negative feelings. The last few years have brought many changes across personal and professional lives across the globe. While some of the changes have been positive, such as the prioritization of work-life balance, other changes like persistent uncertainty are causing many professionals to feel overwhelmed.  As experts, the members of Newsweek Expert Forum are familiar with the toll professional life can have on a person. Below 14 of them offer coping tactics that can help reduce overwhelm and get professionals back on track.

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Artificial intelligence conjures up justified and irrational fears such as job losses, machine takeovers and insurmountable skill gaps.

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Having a deep understanding of yourself and your own goals can help prevent feelings of inadequacy. From Instagram and Twitter to now even LinkedIn, having a presence online today means constantly reading about what everyone has going on. This includes the life updates that people typically post but social media has also increased people’s tendency to primarily share the highlights rather than the entire picture. While this is not a bad thing on its own, constantly viewing the success of your peers can amplify your own feelings of inadequacy around personal and professional failures. Simply deciding to take a step back is one approach to consider, but it can negatively impact your relationships with peers over time. Below, 14 Newsweek Expert Forum members share recommendations for how professionals can connect and maintain healthy relationships with peers without comparing themselves to others’ success and accomplishments.

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Ensuring stakeholders on all sides are regularly supplied with information is key for building and sustaining lasting relationships. A business is nothing without its stakeholders. Because stakeholders potentially encompass everyone from investors to employees, customers, volunteers and interns, entrepreneurs have the extraordinary task of determining how to best serve all of the stakeholders contributing to their business’s operations simultaneously. This is where clear communication can make a real difference. Only by establishing communication processes and procedures that cater to prioritizing and sharing information on all sides will a business be able to gain and retain the support and engagement of their stakeholders.  To help entrepreneurs establish communication systems that keep stakeholders in the loop, eight Newsweek Expert Forum members share strategies they’ve found effective.

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While a productive workforce is vital to a successful business, leaders must balance good management with giving employees autonomy. For many business leaders, having a hand in every aspect of their business has allowed them to ensure that each and every client is well taken care of. This method is an effective way to maintain high-quality products and services while also maximizing what each additional hire is able to contribute to the business.  However, if a leader is too heavy-handed, this management strategy can have an adverse effect internally over time, straining manager-employee relationships and negatively impacting workplace morale. A productive workforce is an essential component in building a successful business, but leaders must be careful not to become a hindrance to their employees. To help leaders adopt a management style that works with and not against employees, 12 Newsweek Expert Forum members each offer a piece of advice for increasing employee productivity without resorting to micromanaging.

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As markets evolve and more people embrace the digital world, entrepreneurs have to be willing to try something new in order to attract more business. In the past, generating new customer leads came down to a variety of approaches. These included paper-based marketing advertisements, cold calls, referral incentives for current customers and word-of-mouth. And as many industries digitized, these efforts also began to include online spaces like social media platforms.  While the medium has changed, at their core, marketing and sales have not. To stand out today to current and potential customers, organizations have to remain committed to continually providing products and services that address the needs and desires people have.  To help entrepreneurs attract more business, 11 Newsweek Expert Forum members each offer one suggestion entrepreneurs can leverage to find customer leads in a modern, novel way.

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Taking notes on how the world's largest and most innovative corporations operate can help businesses of any size emulate their success.  There are certain companies you hear about nearly every day, whether they're new or have been around for decades. These powerhouse companies find a significant problem that needs to be solved and develop innovative, pleasing solutions for customers. Many startup leads aim to achieve that kind of notoriety, and there is much to be learned from observing powerhouses like Amazon, Google, Microsoft and others. Below, 15 Newsweek Expert Forum members shared some important lessons they've learned by watching the strategies of other successful businesses. 

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In operating a business, the one thing entrepreneurs can undoubtedly expect is to encounter challenges. Even with a solid business plan, well-developed products or services and a network of established customers hungering for said business offerings, organizations have no guarantee of challenge-free success. In fact, if there is one thing a business owner can expect, it’s that they will encounter adversity.  Despite this fact, adversity should be regarded as an opportunity for businesses to regroup and innovate. Learning strategies for effectively handling and overcoming these obstacles can allow entrepreneurs to operate their business in an even better way than before. To that end, 13 Newsweek Expert Forum members offer advice below on how entrepreneurs can strategically leverage adversity for business success.