Loren Margolis

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Leveraging data from the past year as well as feedback from employees and customers can give businesses insight into what initiatives to explore next. With the end of 2022 fast approaching, many businesses are already deep into planning for 2023. And while a new year offers a chance to try something new, market instability and the looming threat of a potential recession are increasing the amount of pressure felt by business leaders. Luckily, they don't always have to start from scratch when it comes to finding fresh ideas. Looking back at the successes and failures of the current year can offer insight into what initiatives would be best to explore or where an organization can pivot if something isn't bringing in the desired results. However, it's also key for businesses to keep a close eye on markets and customers because they too can provide guidance. To offer further insights, 14 Newsweek Expert Forum members share additional tips for business leaders as they continue planning for Q1.

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Feel awkward when you network? Try these tips to make it feel more organic and even fun. Many people network with the intention of trying to sell a business leader on their product or service, whether to get seed money or to try and create a partnership. Because of this, networking events may end up feeling awkward and uncomfortable when it's all about the hard sell. However, networking doesn't have to feel like you're "schmoozing." Business leaders can use these events to make real connections and build solid foundations for future business relations, all without pitching an idea. Below, a panel of Newsweek Expert Forum members offered their best advice for making networking more natural and fun to build long-lasting connections. 

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Taking the time to understand client needs can guide efforts to reconnect and maintain connections with customers. After a customer has paid for and received a product or service, it's natural for them to disengage if a business isn't working to actively hold their attention. The natural instinct for some entrepreneurs may be to leverage every communication channel available to pull the customer back in, but these efforts may have the opposite effect of pushing the customer further or completely away. That’s why it’s important to stop and take a moment to think about the situation from the customer’s perspective. Developing a better understanding of customer needs can aid in determining the best path forward for reconnecting or maintaining a connection. To help, a panel of experts from Newsweek Expert Forum each share one effective strategy for reengaging inactive customers.

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Prioritizing the development of leadership skills helps build organizations that can last long term. Business leaders today can no longer rely solely on the skills that have always brought organizational success. Instead, as the world continues to change significantly, the focus for leaders must be on strengthening existing skills and continually developing new skills to be able to build connected teams and long-lasting organizations.  To help deepen understanding of what skills will be needed in the future, the members of Newsweek Expert Forum each share one skill that business leaders should actively work on to level up their leading abilities.

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Keeping employees consistent connected to the mission and values of the organization means building a supportive work environment. The key to creating a supportive work environment lies in how well the leaders of the organization communicate with their employees. Clear and consistent communication is essential to ensuring employees feel a sense of belonging and are fully connected to the mission of the organization, but communication can no longer be one-sided and reserved for those at the top. Changing how they communicate to better accommodate employees and their needs will allow leaders to build and maintain long-term relationships with the people in their organizations. To help, the members of Newsweek Expert Forum share communications strategies leaders should consider adopting if they want to resonate more with employees and build influence.

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Investing more time into nonbusiness critical endeavors can positively impact an entrepreneur's skills and business. Pursuing professional development has always been a valuable practice for continuously growing and developing business skills. Despite the benefits, however, some entrepreneurs are still reluctant to take steps toward investing in their own development. For them, any time and effort not spent on business-critical tasks may be seen as unimportant when compared to work that directly impacts and drives business.  However, entrepreneurs need to rethink their current beliefs about professional development if they are truly interested in growing their businesses and enhancing their own skills for future success. To help, 15 members of Newsweek Expert Forum shared recommendations on how entrepreneurs can take action and start investing in their own professional development.

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A business's culture directly influences relationships within the workplace. The work culture of a business has a direct impact on the ability of the organization to last long term. Besides the benefits on the business side, a positive work environment enhances the relationship between leaders and current and prospective employees, leading to increased retention and employee loyalty. However, the challenge comes with building and preserving this kind of company culture. To help, a panel of Newsweek Expert Forum members shared their recommendations for how business leaders can build and maintain a positive work culture.

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In order to maintain credibility in the face of obstacles, leaders must learn to embrace honesty and vulnerability. In the face of a setback, such as layoffs or a deal falling through, a leader’s next actions make all the difference for employees. Leaning on the support of employees and, in turn, supporting employees is critical for building and maintaining leadership credibility and the trust of your team when things go south. Moving away from the image of a powerful, all-knowing leader can be difficult, especially when the weight of the organization is on your shoulders. To help leaders boldly face and address business mishaps, 16 members of Newsweek Expert Forum shared steps that business leaders should take to rebuild trust with their team after a setback.

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Actively meeting the needs of employees can inspire respect for leaders while also having a direct impact on the business's bottom line. Being a great leader requires more than delegating tasks to employees and meeting business goals. Each individual employee within an organization has different needs, and the role leadership plays in meeting those needs and empowering employees to contribute their expertise can have a direct impact on a business’s bottom line.  Though all leaders aspire to be someone worthy of guiding others, the challenge is ensuring each action taken signifies interest in and commitment to the well-being of employees. To help, the members of Newsweek Expert Forum offer recommendations for how those in power can earn the loyalty of those around them and become leaders people will want to follow.

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Leaders that are unable to keep up in a changing business world are at risk of falling behind. The business world moves fast, and companies that aren’t able to keep up run the risk of falling behind. Building a sustainably successful company requires that leaders understand just how much the business can and will change over time. While leaders are well aware that flexibility is a key part of doing business, it doesn't mean that they will be able to tap into that ability the moment they encounter a business challenge. To help, a panel of Newsweek Expert Forum members share strategies leaders can use to develop their ability to adapt quickly and ensure that flexibility is built into the foundation of their organizational culture.

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If you're concerned about meeting fatigue among your remote workforce, try these strategies to ensure each virtual gathering has a clear purpose. The COVID-19 pandemic has shifted work culture in several lasting ways, including the growth of work-from-home arrangements. As companies begin to embrace smaller physical office locations and the workforce's ability to work from home, the road and other places, new challenges arise. Between a constant flow of meetings and life distractions, employees can easily start to burn out and feel "Zoom fatigue." One way to address this is by ensuring every meeting held is intentional, purposeful and engaging for all attendees. Below, members of Newsweek Expert Forum share insights for how they believe leaders can improve meetings and make sure each one held is worthwhile.

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When even small decisions can have a big impact on your business, removing bias is a critical step in the decision-making process. To be an entrepreneur is to expect change. The business world is rarely static, and leaders who are able to meet obstacles head-on and create solutions are better able to survive long term. This is why decision making plays such an important role in a successful business.  When time is limited and decisions have to be made, an objective approach can help ensure the best conclusion is reached. However, considering how big of a role people play in business and how often emotions can take over, remaining objective can be a challenge. Here, the members of Newsweek Expert Forum share strategies for letting go of assumptions and approaching the decision-making process with an unbiased view.

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Business challenges can be difficult to face, but they can also provide an incredible learning experience for company leaders. Every difficult situation and mistake offers an opportunity to learn something valuable for the future. This is especially true for business leaders, who deal with challenging situations on a near-daily basis. Amid these tough decisions, it can be hard to discern the “right” path. However, each step forward and challenge faced is another lesson learned. Below, 13 members of Newsweek Expert Forum share the significant business challenges they believe can become a great teaching experience for leaders. Here's why they think these situations are such excellent teachers. 

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It's easier than ever to share information—which means leaders must take extra care to ensure that information spread throughout their company is factual. The ease of access to information today is a great public utility. However, this means there is also greater access to misinformation. When business leaders are sharing anything with their teams, they have to be sure the information is accurate and fact-based. Otherwise, something may be interpreted incorrectly and the rumor mill may start turning at your organization. To help leaders ensure they're not contributing to the spread of misinformation, 15 members of Newsweek Expert Forum shared their best tips for businesses.

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A company's core values are the most important part of its culture and ethos. As a leader, it's your job to enforce and live those values every day. The modern employee and consumer want to know that companies care about more than just sales and profit. People are more motivated to work -- and consumers are more likely to patronize a brand—when they believe a company's values align with their own. As a business, messaging about your core values should come from the top and be enforced within your culture every day. Below, 15 members of Newsweek Expert Forum share their tips for strengthening a company's core values and making sure that they are enforced. Follow their recommendations to ensure your team and your customers know exactly what you stand for.

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Whether it's an employee, a partner or a potential client, business success depends on nurturing genuine, organic relationships. When speaking or working with a new employee, partner or prospect, you don't want to jump right into a sale or ask someone for a favor upfront. Instead, it's best to approach the relationship in a genuine, authentic manner and allow things to develop naturally. Otherwise, you may drive the other party away if your outreach or conversation feels forced. To help organically build business relationships, a panel of Newsweek Expert Forum members share 14 important elements of successful connections with your stakeholders. Follow their advice to help improve the quality and flow of your business conversations.

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Actively connecting with disengaged customers could make all the difference in encouraging repeat business. Smart business owners know that it costs less to keep a satisfied customer than it does to acquire new ones. That's why it’s so important to focus on repeat business and customer loyalty. To do this, you’ll have to invest in your current customers and find ways to continuously engage them. But what do you do if a customer is disengaged or goes inactive for a while? If you’re unsure how to solve this issue, follow the advice of these Newsweek Expert Forum members. Below, 13 of them shared tips for organizations that want to connect with unengaged or inactive customers in the hopes of earning their business again.

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Strong leaders project confidence, so it's important to have strategies for building it within yourself. When you're in a leadership position, your team will reflect your actions. If you are negative and worried, your team will be as well. Conversely, if you project strength and stability, that will be mirrored in your employees.  To build your confidence, you need to practice the right strategies and habits. That's why 11 members of Newsweek Expert Forum offered their best tips for becoming a more confident leader. 

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Employee burnout in times of crisis can be detrimental to a business, and leaders must find a way to motivate their teams to keep going. Burnout is a common issue for professionals today. Amidst the global pandemic when many people are working fully or partially from home, more and more workers are battling emotional exhaustion. As a leader, you’re responsible for supporting your team through these difficult times. To help you do this, nine members of Newsweek Expert Forum some share ways leaders can address employee burnout during a crisis.

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Reputation is everything in business. Make sure yours is solid with these strategies. One of the most important things a business can uphold is its reputation. Both customers and top talent are drawn to companies with demonstrated success and the ability to deliver on its promises. While gaining and maintaining a good reputation is often easier said than done, there are several actionable steps leaders can take to build up that positive momentum. Below, seven members of Newsweek Expert Forum share their top tips for bolstering your organization’s reputation. Follow their recommendations to improve and boost your public image.

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Diversity is more important than ever in the business world, but equity must go hand-in-hand with these efforts. In today's social climate, companies are rightfully looking to diversify their staff. This often involves developing unbiased hiring process and opening up the floor to input from employees of all job levels and backgrounds. The result of such changes is a rich tapestry of unique perspectives that contribute to better business solutions. However, without a simultaneous focus on equity and inclusion, those diverse voices may not be properly incorporated and leveraged. Eight members of Newsweek Expert Forum offered advice to leaders who want to develop and promote more egalitarian workplaces. Follow their tips to encourage a truly diverse culture and workforce.

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Before you make a public statement, be sure to think about the potential consequences to your business -- both positive and negative. In recent years, socially-conscious consumers have become more interested in supporting companies that share their same values. This is especially true after the social and political turmoil of 2020, when deeply polarizing issues came to the forefront for many businesses and organizations. With this in mind, business leaders are more inclined to make public corporate statements about social issues. However, this could potentially lead to more controversy if this statement is poorly written or displays the wrong sentiment. To help, 11 members of Newsweek Expert Forum explained what organizations should consider before making a statement on a political, social or potentially controversial issue.

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Breaking down a goal into manageable steps can help reduce pressure and increase productivity. Perseverance is one of the most important traits for a business leader to possess. Even in hard times or when others might give up, a leader must remain committed to their organization and its vision, and take the steps necessary to achieve it. If you’re a business owner tasked with accomplishing a goal that seems overwhelming or challenging, you may struggle with finding the motivation to stick with it. To help, 14 members of Newsweek Expert Forum share their tips for committing to tough goals and seeing them through.

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Resilience is a key characteristic of every successful and sustainable business. The ability to stand tall through economic downfalls and other obstacles that might impact your business is crucial. However, building a resilient business isn’t easy. To help, 10 members of Newsweek Expert Forum shared practical ways companies can build their resilience. Here are their recommended methods and why following them is critical in today’s world.