Karen Mangia

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Before agreeing to sell your business, make sure you understand how it will impact you and your company—both in the immediate future and the long term. Being approached with an offer to buy your business can be equally exciting and nerve-wracking. Whether you've received an unsolicited offer or have been considering selling in the not-so-distant future, it's important to approach this critical decision with due diligence and careful consideration. Below, 16 members of Newsweek Expert Forum share key factors to consider when another company is interested in buying your business. From the acquiring company's track record to your ultimate exit plan, assessing and understanding these elements can ensure you make the decision that's best for you and your organization.

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Viewing entrepreneurship as a process of trial and error can help leaders ensure they take the time to reflect on how the business is performing as a whole. While starting business requires a considerable amount of preparation, there’s no substitute for the amount of experience entrepreneurs gain from actually running a business. As leaders begin putting systems in place and setting the general ways of how the business will operate, certain habits become ingrained that cause more harm than good in the long run. Being so directly involved in everything the business does can prevent leaders from seeing the larger picture and the negative impact of these ingrained habits on the business. To help leaders more readily identify and change problematic behavior, 18 Newsweek Expert Forum members each share one seemingly harmless habit in a business leader that might in fact be hindering their success.

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Motivating employees to see the benefit of looking at things from a different perspective can lead to business success. With the current workforce now consisting of Baby Boomers, Gen Xers, Millennials and, increasingly, Generation Z, these distinct generations all bring with them different ideas about how the day-to-day operations of a business should work. This can create a toxic environment of miscommunication and misunderstanding that negatively impacts a business’s ability to retain its employees and properly serve its customers. When these challenges arise, it’s vital that leaders develop a plan of action to connect and build strong relationships with employees, regardless of their age, generation or experience level. To help, 13 Newsweek Expert Forum members offer tips to help business leaders pull the different generations in their workforce together to the benefit of the entire organization.

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Before scaling distribution, it’s important that leaders have a plan in place to continually meet customer needs. In business, operating on the more conservative side is generally regarded as a smart strategy for entrepreneurs just starting out. However, for a business to grow and reach the next level of success, leaders eventually have to increase the scale of their goods distribution in order to reach and meet the needs of a bigger audience. As experts, the members of Newsweek Expert Forum have experience ramping up shipping operations and volume in a sustainable way. Below, they offer advice on how companies can seamlessly shift from a relatively small volume of shipping to a much larger scale of distributing goods.

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Making the most of your time after a holiday break requires setting realistic expectations for yourself and your team. End-of-year holidays can be a welcome break from the grind until January arrives and it's time to get back in gear. Between celebrations and holidays, many professionals jump into January with the aim of tackling lingering work and starting new initiatives, but doing so without a solid plan of action can result in family and personal time being put on the back burner. To help professionals find balance after the holidays, 13 Newsweek Expert Forum members each share one method they use to set boundaries and catch up on their work backlog without falling behind on family time and personal chores.

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Creating a more imaginative internal culture requires making changes to how your business manages employee ideas and feedback. In business, the most effective initiatives often rise from the bottom up. While leaders are essential in shaping the larger direction of an organization, it takes the combined efforts of team members in every position to carry out set objectives successfully. Creating an internal culture of active encouragement and support for employees to express themselves and devise new ways of thinking results in a truly effective business. Below, 16 Newsweek Expert Forum members each offer strategic approaches business leaders can leverage to build a culture of curiosity and innovative thinking among team members at all levels.

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While a busy business is the ultimate goal for many entrepreneurs, too many initiatives can eventually begin to negatively impact the team without intervention. The ability of a business to take on more and more initiatives is a definitive indication that the organization is doing something right. However, between marketing, customer support and product development, to name a few essential business functions, starting too many initiatives without proper protocols, adequate resources and a large enough team can prevent the team from making effective progress on any of them. For business leaders to successfully manage the initiatives they start, it’s essential that they keep a close eye on internal happenings and hone their skills in recognizing when too many projects have been undertaken. Below, 12 Newsweek Expert Forum members each share one sign that a leader has too many projects going on and how they can take steps to dial back and reduce project quantities for the sake of the overall business.

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Mapping out a marketing strategy beforehand can help a business ensure its efforts are focused and tailored to potential customers. The right marketing strategy can propel a business to new and exciting heights. While many leaders tend to focus primarily on product or service development, taking the time to reflect on potential marketing strategies is equally as important, as it can help establish brand identity and effectively reach a target audience. The holidays in particular mark a time for giving, and customers are especially eager to learn about brands that may provide the gift they’re looking for. Crafting a well-thought-out holiday marketing strategy in advance ensures a business remains focused, thereby increasing the chances of successfully engaging prospects and converting them to bonafide customers. To help leaders create effective plans, 12 Newsweek Expert Forum members each share one essential base to cover when developing an annual holiday marketing strategy for a business, as well as why these elements are important.

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For a successful international launch, conduct careful research into the laws, regulations, customs and culture of each new market. Businesses are increasingly considering international expansion as a key avenue for growth. However, navigating unfamiliar territories can be a daunting task for those venturing into new markets for the first time. Below, 18 Newsweek Expert Forum members share tips for how businesses can successfully navigate international growth. By prioritizing research and building strong local connections, business leaders can engage with new audiences with confidence.

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Bold begins as soon as your next brainstorming session. What will your choices create from a calm, curious place?

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Before taking on any investors, take the time to do proper research and assess each investor’s expectations and needs. Securing the support of multiple investors can be a big boost to a business just getting off the ground. While the guidance and funding these investors offer are critical to building a successful business, entrepreneurs must also become adept at balancing competing feedback and expectations. To create truly positive relationships with investors, it’s key that entrepreneurs put processes in place to ensure all sides are aligned, have space to communicate openly and are dedicated to working toward common goals before accepting any funds. Below, 14 Newsweek Expert Forum members each offer one piece of advice to help entrepreneurs ensure that their investors feel heard and happy with how things are progressing.

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Even just taking a few routine tasks off of a leader's plate can have a huge impact on their efficiency. As a business grows larger, the amount of work a leader handles increases as well. Between attracting potential customers, nurturing customer relationships and managing all aspects of the customer journey, this leaves leaders with little time to work on the business rather than in the business.  Hiring a virtual assistant can be a great way for leaders to offload administrative and routine tasks while also positively impacting efficiency across the organization. Here, 12 Newsweek Expert Forum members share how retaining a virtual assistant has helped them streamline their tasks and become more productive.

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Before moving into a larger market, ensure you have a solid business strategy to engage online prospects. In today’s digital world, many companies have more flexibility when it comes to location. Entrepreneurs can set up shop in a smaller city and still find success through the connections they establish with local customers, investors and organizations. However, while operating in a small market can provide a number of business opportunities, being able to access “big market” resources and clients can unlock a new level of business growth. To catch the attention of potential customers and investors located in larger metropolitan areas, the right online strategy is essential. To help, nine Newsweek Expert Forum members each share one way entrepreneurs who have set up operations in smaller markets can attract clients and investors in larger city markets.

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In an increasingly digital world, knowing how to apply tools and technologies in your business is critical to keeping up with the market. While AI as a tool is not new, more and more businesses are looking to take advantage of it these days. From on-demand customer service and content generation to customer base management, there are many ways a business can leverage the power of AI to boost its ability to attract and retain customers.  As experts, the members of Newsweek Expert Forum have experience navigating the ongoing process of implementing and maintaining AI. Below, 10 of them discuss how businesses can effectively use artificial intelligence for customer acquisition and the positive impact it can have on the bottom line.

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Inviting employees to share feedback and make suggestions can help ensure the entire team is in alignment. Today’s professionals are increasingly expecting jobs to offer flexible workplaces. While many business leaders are seeking to provide more remote and hybrid-friendly workplace environments, it can be difficult to let go of how things have traditionally been done for years and even decades. In particular, the potential impact on productivity is a significant concern for some leaders as they look to establish more flexible policies. To help, 13 Newsweek Expert Forum members each offer one tip for business leaders seeking to implement a flexible working schedule policy for the first time without impacting overall productivity.

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With inflation rising, businesses are being challenged to balance profit and customer satisfaction. Maintaining the delicate balance between profit and customer satisfaction is a constant challenge. These days, business owners find themselves in the tough position of needing to raise prices to maintain balance in a world plagued by inflation. In a competitive market, price changes can be a double-edged sword, potentially boosting revenues or driving customers away. To navigate this terrain successfully, it's crucial for businesses to identify the one sign that indicates it might be time to raise prices. To help, 18 Newsweek Expert Forum members delve into the intricacies of pricing strategy and explore the key factors that signal when your business should consider this significant step.

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Inviting employees to share their input in workplace changes helps ensure the creation of an inclusive and empathetic space. The idea of what constitutes a safe working environment has changed significantly in today’s global business environment. Where before the focus was primarily on physical safety, many organizations have evolved to now include well-being and psychological safety as well, resulting in increased productivity and decreased turnover.  While many businesses are committed to creating and maintaining a safer work environment, knowing where to start and what to focus on can be challenging. To help, 17 Newsweek Expert Forum members each offer one essential factor business leaders should consider when working to build a safer working environment in a business.

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Whether you're an employer, employee or entrepreneur, here's how these questions can move you from stuck to a place of possibility.

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Creating a workplace environment where all employees feel able to communicate their needs is critical to retaining your team. Every business goes through busy and stressful times. While many organizations are able to navigate and overcome these hurdles, it can result in leaders experiencing burnout. This is especially true for mid-level leaders as they tend to direct many different moving parts and interact with individual team members. Fortunately, with the proactive support of the executive team, there are tactics that can be utilized to mitigate or prevent burnout and reinvigorate mid-level leaders. To help, 20 Newsweek Expert Forum members each share one way the executive team can help mid-level leaders get reenergized when they are feeling burned out.

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Putting time and effort into making improvements to your business’s SEO strategy is a worthwhile investment. With so many brands vying for attention in the digital space, attracting potential customers and retaining their attention can sometimes come at a high cost. To keep expenses down, many companies have turned to search engine optimization or SEO to boost their position in search results and drive more traffic to their website and content. Determining which small but necessary changes will be most beneficial requires thorough consideration of your target audience. To help, 12 Newsweek Expert Forum members each share one tip that business leaders can leverage to improve their business’s SEO at little or no cost.

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When a partnership with a client isn’t working as well as it used to, it can be hard to let go of both the relationship and the steady work. While a steady supply of new clients is critical to helping a business get off the ground, returning customers play an equally important role in a business’s lasting success. Establishing a long-term partnership with a client can be incredibly beneficial on both sides, resulting in effective collaboration, increased efficiency and a deeper understanding of the other party. However, not all relationships are meant to last forever. When issues keep occurring and relations become strained or toxic, it’s time to take an objective look at the partnership to determine whether it should continue. Below, 15 Newsweek Expert Forum members each share one warning sign that a partnership with a client has turned toxic and needs to be ended.

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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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Give your employees the flexibility they need to thrive with these unique offerings and strategies. Numerous studies have found that employees not only value flexibility in the workplace, but they also thrive when they actually receive it. While hybrid and remote work arrangements have become increasingly commonplace, organizations continue to explore unique and uncommon ways to provide even more flexibility. Companies that do this are more likely to attract and retain a workforce that's both productive and highly satisfied. To help businesses support their teams, 20 members of Newsweek Expert Forum share out-of-the-box offerings and strategies to give employees the flexibility they crave.

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Leaning on the perspectives and expertise of the entire team can help ensure decisions are made with care. Leaders are often faced with critical decisions that can significantly impact a company's success. However, the process of decision making can often be clouded by preconceived notions and assumptions. To make the best possible choices, leaders must step back and evaluate their own biases—but they may not always be sure how to do so. Below, 18 members of Newsweek Expert Forum share top strategies to help leaders set aside their assumptions and approach critical business decisions with an objective eye.

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While business can sometimes seem like an extrovert’s playground, introverted leaders can network effectively with other professionals to build lasting relationships. As a leader, being able to make solid connections with professionals in and outside of one’s industry is key to running a successful business. Though introverted leaders may dread networking, the long-term benefits of cultivating both personal and professional business relationships can significantly boost a business and give a leader access to new opportunities.  From scouting potential contacts online to joining community organizations with a focus on their hobbies, there are numerous ways for reserved leaders to put themselves out there without it being too much of an obstacle. Below, 18 Newsweek Expert Forum members offer advice on how introverted leaders can overcome the challenge of networking while making it more natural and fun.

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Making the effort to take full advantage of personal and professional growth opportunities can help leaders achieve significant goals. Many business leaders will attest that running and maintaining a successful business happens only with a continued investment of countless hours. While this time investment is crucial for ensuring that the business is performing well and on track with goals, it can limit the amount of time leaders have to spend on other pursuits, such as acquiring new knowledge and the development of a leader’s skills.  Despite this, there are steps a leader can take to reprioritize and dedicate more time to investing in themselves and their own personal and professional growth. Below, 10 Newsweek Expert Forum members share specific ways a business leader can pursue further education and ongoing growth opportunities when they have limited spare time.

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Being in constant communication with customers can help businesses ensure they are following the right trends. Customer trends are constantly changing in response to societal, environmental and technological advancements. To continually meet and even surpass customer expectations, it’s critical that businesses keep up with and adapt to these emerging customer trends. However, with so many trends appearing regularly, it’s difficult for business leaders to know which trends are short-lived and which ones have the potential to disrupt the industry for good. This distinction is key, as the wrong investment in a particular trend can mean wasting limited time, effort and resources. To help, 12 Newsweek Expert Forum members offer advice on how a business can stay on top of emerging customer trends and leverage them wisely.

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Investing in the right tools early on can help a business achieve long-term success. In today’s highly competitive business environment, achieving business success comes down to the steps an entrepreneur takes in the early stages. For the B2B space in particular, the right technological investments early on can help not only build a reputable business reputation with potential customers, but also ensure that proper processes and procedures are put in place and maintained over time.  From systems to manage communications with customers to artificial intelligence technology that’s constantly evolving, there is a wide range of tech tools entrepreneurs can leverage for a new business venture. To help narrow down the selection, eight Newsweek Expert Forum members each share one tech tool they consider an essential early investment for successfully launching a brand-new B2B business.

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How prepared are you to tell your story in a way that leads to your desired outcome?

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B2C outreach involves creativity and planning, and these tips will help your team achieve long-lasting results. Successful B2C outreach hinges upon a well-rounded strategy that engages and resonates with your target audience. To achieve this, there are several essential ingredients that must be carefully incorporated into your approach. Each factor plays a crucial role in driving meaningful connections and driving business growth. Here, 13 Newsweek Expert Forum members each share one vital ingredient needed to craft well-rounded, effective B2C outreach and delve into why these ingredients are pivotal in capturing attention, fostering loyalty and generating lasting results.

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Cultivating a values-driven environment will help align team members' actions with the core principles of your business. Company values are the guiding principles that shape an organization's culture and define its identity. However, only having values in place is not enough. To truly embed them within the fabric of a team, it is crucial to reinforce and strengthen each member’s understanding and commitment. Below, 19 Newsweek Expert Forum members share effective strategies leaders can use to nurture a values-driven team. These approaches will help solidify the team's understanding of company values and foster a deep sense of commitment. 

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Adopting tried-and-true strategies for achieving ongoing success through hard work, smart planning and unwavering dedication can help leaders advance. In the pursuit of success, it can often appear as though some individuals are blessed with luck, stumbling upon triumph by chance. Yet, upon closer examination, it becomes evident that true achievement stems from a combination of unwavering dedication, meticulous planning and strategic execution. This begs the question: What are the powerful strategies that foster consistent and repeatable success?  Below, 19 Newsweek Expert Forum members explore key strategies that pave the way for sustained success and the underlying mechanisms that make them so effective.

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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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When you invest in something new, you must divest something else.

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E-commerce businesses are a dime a dozen, but those that provide standout customer service are the ones that will ultimately thrive. In the competitive world of e-commerce, providing exceptional customer service is crucial for building a loyal customer base and staying ahead of the competition. However, with so many brands vying for attention, it can be challenging to stand out and provide a consistently positive customer experience. Below, a panel of 14 Newsweek Expert Forum members shared essential tips for e-commerce brands to better serve their customers. By implementing these tips, e-commerce brands can enhance customer satisfaction and loyalty, ultimately leading to increased sales and business growth.

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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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Your crossroads moment is an opportunity to discover your potential.

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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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By providing ongoing support, leadership can ensure that a manager has the tool and resources to succeed. Great managers are critical to the success of an organization. These managers sometimes step into the role already possessing innate traits and experiences that will help them succeed as leaders, but management as a skill should also be taught. If an organization builds systems to develop and shape the skills of their talent on an ongoing basis, leadership decreases the chances of creating and perpetuating bad management behaviors that negatively impact the culture and operations of the business.  To help leaders ensure managers are performing at their best, 13 Newsweek Expert Forum members share specific actions they can take to increase the effectiveness of their managers.

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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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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.

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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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Eventually, every career comes to a crossroads.