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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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Transformation doesn’t happen overnight.

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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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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.

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In order to keep moving toward set goals, leaders must ensure that the organization's purpose is prioritized. In life, the only constant is change, and the same is true in business as well. While businesses are typically created around a vision or specific purpose, the evolving reality of running a business can cause leaders to gradually stray from the original mission. Purpose-driven organizations do work that benefits stakeholders on all sides, so having a guide when making decisions can help leaders manage change better and more efficiently. To ensure that their organizations remain focused on their mission, 15 Newsweek Expert Forum members offer advice on how industry leaders can keep purpose at the forefront of everything they do.

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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.