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Opening a Business in Puerto Rico

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Many companies from around the globe already call Puerto Rico home. These companies came to boost their opportunities for advancement and growth through the variety of industries thriving in Puerto Rico. Not to mention having a skilled labor pool and low costs.

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Puerto Rico as a Business Destination

For companies expanding from the United States, Puerto Rico offers a familiarity while still providing the uniqueness and excitement of a different culture you might find further from home.

While Puerto Rico is part of the US, it is not technically a state, and there are some slight differences between starting a business in the US and starting one in the unincorporated US territory. Some people might say that Puerto Rico has a slow permitting process, and it might seem so if you compare the process to the fastest methods like those in New Zealand, which World Bank data has given the title of the #1 country on their ease of doing business list. Although it may not have the same fastest permitting process, the territory has a more straightforward process than places such as India and China.

An Excellent Location for Entrepreneurs

After being hit by both Hurricane Maria and Hurricane Irma in 2017, Puerto Rico has been struggling to get back on its feet. That may not sound like the ideal place to start your business, but the Puerto Rican government has created several incentives for entrepreneurs to open their stores. They hope that providing entrepreneurs with these incentives will bring revenue back to the country and this will help them to get back on their feet. It is a similar approach to what Singapore has done over the last ten years, while achieving outstanding results.

The Advantages of Opening a Business in Puerto Rico

1. Personal Taxes

The two biggest reasons to start a business in Puerto Rico are the taxes. Puerto Rico is exempt from US federal taxes because they are a commonwealth nation. However, they are technically part of the US which means that they retain US citizenship. For entrepreneurs wanting to be free of the US tax, all they need to do is live in Puerto Rico 183 days out of the year. Puerto Rico is the only place that US citizens can move to and not have to renounce their US citizenship to be exempt from federal taxes. Entrepreneurs in the US can have more than half of their income taxed in individual states, while Puerto Rico has a fixed income tax rate of 4%. Capital gains are also taxed in the US anywhere from 15-20% while in Puerto Rico the rate is 0.

2. Corporate Taxes

Companies in either the manufacturing services or export divisions can qualify for a 4% fixed income tax rate as well as a full tax exemption on total earnings, including profits. In a few cases, some businesses can qualify for a property tax exemption as well. And most startups get a full property tax exemption for the first five years they are in business. The savings in Puerto Rico compared to the US are nearly unbelievable.

3. Skilled Workforce

Puerto Rico suffers from a “brain drain” of sorts. While the island graduates thousands of STEM students every year, a majority of the grads decide to leave the country. In spite of those numbers, Puerto Rico believes that the opening of new businesses will help to keep these graduates in the country and even offers a 50% tax credit for companies who are working towards research and development.

4. US Perks

Businesses in Puerto Rico still get to enjoy many perks of other businesses in America despite not having to pay the tax rates. All products that a business creates in Puerto Rico get stamped with “Made in the USA.” There won’t be any shady business with your intellectual property either because it will be protected by US law. Puerto Rico is due to receive $17 billion in funds from the US, which is expected to create an increase in budget.

Opening a business in Puerto Rico does come with its fair share of obstacles, but if it is done correctly, the savings will be staggering.

Opening a Business in the UAE

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The United Arab Emirates ranks as #21 on the Ease of Doing Business in the World Bank data report for 2017, which went up ten ranks from its position at #31 in 2016. The growth of this thriving country, whose economy is dominated by the petroleum industry, has made the UAE a very tempting place for many businesses to open up shop.

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Background on the UAE

The UAE is based adjacent to the Arabian Peninsula on the eastern coast. It is a federation of seven emirates, the largest of which is Abu Dhabi. Abu Dhabi also accounts for a majority of the oil industry and the wealth of the nation. The next largest emirate is Dubai, which is a famous port city that has grown into a booming commercial center for multinational corporations. The smaller emirates include Sharjah, Ajmān, Umm al-Qaywayn, Raʾs al-Khaymah, and Al-Fujayrah. Although the official language for the UAE is Arabic, many people speak English as well, especially in the business world.

Doing Business in the UAE

The UAE has become extremely attractive to business owners for a plethora of reasons. If you are interested in starting your own business in the UAE, now is the time to do it. Read on to find out how easy it is to open up your own business and make considerable profits in the UAE.

An Open Economy

Yes, the UAE has an open economy. It is one of the most accessible countries to trade within the Gulf and it has a very high per capita income. Many countries have already made their way to the UAE, and in so doing have helped to increase the economy even more with their foreign capital. The previously established nation has become even more wealthy with the influx of offshore companies and money. The UAE is already a cozy home to several multi-million dollar corporations and small start-up companies.

The UAE Makes it Easy For Foreign Investors

The government of the United Arab Emirates caught on quickly that foreign investment would lead to a skyrocketing economy and therefore made it easier than ever for foreign companies to bring their businesses overseas. Foreign nationals get their own set of rules and regulations to follow, which includes fast-tracked legal procedures.

They want you in the UAE and the government won’t make you wait as they only require a minimal amount of paperwork. They have also set up registration and licensing to be fast and easy to understand.

Free Zone

Foreign companies can apply to be tax exempt under the free zone economy. This means that international businesses do not need to pay a corporate tax nor an income tax. All of your profits are just that, profits. There are free zones in Ajman, Dubai, and Abu Dhabi. When researching where you should take your company, those three areas should top your list.

Access To An Elite Labor Pool

The UAE attracts a strong workforce to its largest cities. There is an abundance of skilled and unskilled workers that flock to the UAE from places such as India. It is such an attractive place for employees and employers alike because of their low tax structure and very high wages. UAE residents are also very well-taken care of. 92% of people are literate, and health insurance is mandatory. They have an established education structure, and international universities have been set up in the UAE including NYU and MIT.

Solid Foundations to Build Upon

Whatever your business needs, the UAE has made sure that they already have it set up for you. When you bring your business to the UAE, you will have easy access to transportation, business parks, warehousing, and office spaces. There is no need to start from scratch.

It’s a Great Location

The UAE offers easy access to it’s fast-growing and well-established neighbors, including its major trade partner, the European Union. It is also close to China and India and has excellent trade relations with both countries. Plus, it is a safe place to work with a relatively low crime rate.

UAE: One of the Best Locations for International Expansion

The UAE caters to its foreign investors, and because of its location, safety, workforce, and infrastructure, it easily attracts many foreign companies looking for an excellent location for expansion. If you’re looking to start your own business, then the UAE is a great country to start in because it has all the tools necessary to set you up for success.

Opening a Business in London

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England is an attractive place to start a business if you are a foreign natural, and its capital city, London, is one of the best locations. If you are considering starting a business in the UK, here are some things to consider.

  • The visa issue: If you are a foreign national, depending on which country’s passport you hold, you may need to apply for a work visa before you can open your business in London. If you do require a visa, it is important to apply for it well ahead of time. Entrepreneur visas are usually granted or declined within three weeks after application, but you can apply up to three months in advance.
  • The legal issue: It’s important that you have a solid business structure. At this point, you obviously know what type of business you want to start and how it will be run. So, now you need to decide on a legal structure. In the UK there are four different legal structures to choose from. These are a limited company, limited liability partnership, partnership, and sole trader.
  • The incorporation issue: It is entirely up to you whether you incorporate your business or not. If you are operating as a limited company, you will have to register with Companies House.
  • The tax issue: Next you will need to register for tax. If you are incorporated, you should register for Corporation Tax. You will also have to register with HMRC as a self-assessment taxpayer.

Opening a Business in London: EU Citizens

Currently, if you are an EU citizen, you do not need a special permit to start a business in London, or anywhere else in the UK. This may change after the BREXIT. The only current exception affects nationals if countries which acceded the EU in 2004. These include Romania and Bulgaria. If you are a national of either of these countries, then you may need to apply for a permit.

Opening a Business in London: Entrepreneur Status

You will be pleased to know that prospective entrepreneurs get favorable treatment from the UK immigration authorities. Currently, a points-based system is in place. There are two tiers to this system. Here is a look at both of them:

Tier 1: This level is devoted to entrepreneurs, investors, and highly-skilled workers. The eligibility criteria for this tier are very rigid and include: a minimum of £50,000 in investment capital or a current investment of £50,000 in a UK business. Furthermore, if you are not already an investor, your money must come from an FCA registered venture capital fund, funds made available by a UK government department, or a UK seed funding competition for entrepreneurs endorsed by the DIT.

You can also apply for a Tier one permit if you have £200,000 in investment funds that are yours, provided by a joint investor, or held in a joint account with your spouse. As well as meeting these criteria, you will have to meet the general mandates for Tier 1 applications. This entails proving that you are from an English-speaking country or that you have a recognized qualification in the English language.

Tier 2: This is for skilled workers who are being introduced to the UK for the purposes of employment. If you are bringing staff to London to help you start your new business, they will need to apply for Tier 2 permits in order to be eligible to work for you in the UK.

Visa Extensions

If you are granted a Tier 1 entrepreneur permit, and you wish to apply for an extension, you will have to meet additional criteria. Including:
You must have invested a minimum of £200,000 in a business which already exists in the UK. This money excludes a director’s loan or any commercial property loans.

You have to be involved in the running of the business when you are applying for an extension.

You must have registered with HM Revenue and Customs as a self-employed person or as a company director with Companies House within three months.
Although there are extensive regulations determining the eligibility and behavior of foreign nationals who wish to start a business in London, you should remember that you will need a permit to work in the UK, just as you would if you were applying for a position to work for someone else in London.

Some restrictions make it difficult for foreign nationals who wish to start a London business with a small budget. This may become increasingly difficult once Brexit is in place, so keep that in mind. You should remember that immigration laws are very strictly enforced and anyone who fails to comply with them will be prosecuted. If you are in doubt about your status or eligibility to open a business in London, you should talk to a specialist in the field of immigration and overseas business.

Lunar Wanderlust: Moon Travel is on the Horizon

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Almost 50 years ago, on July 20, 1969, Apollo 11 became the first lunar launch to reach the moon. When it landed in the lunar Sea of Tranquility, astronauts Neil Armstrong and Edwin Aldrin (known as Buzz) became the first people to set foot on the lunar surface.

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Fast forward to the present day, and if you’re bored with hiking Machu Pichu or cruising the Bahamas, your next vacation might be a trip around the moon, and it may happen within the next two years. At around $150 million per ticket, it not likely that people will be queuing up for this ride, but for those who can afford it, the trip may be worth every penny, especially since no one has seen the moon up close since 1972.

Your lunar excursion will take around 17 days, with half of that time taken up by traveling to the moon. So just how close will tourists be able to get? Experts claim that the craft will get within 100 kilometers of the moon’s surface.

Elon Musk’s SpaceX team were hoping to send their first lunar tourist trip in 2018, but it seems that more uncrewed tests must be made first. This is understandable as everyone obviously wants to be sure that the equipment will get everyone there and back safely.

Early in 2017, Musk announced that SpaceX would fly their first two paying customers around the moon before the end of 2018. Their spacecraft is known as the Dragon capsule, which is powered by the Falcon Heavy rocket. Now it’s looking as though the lunar launch won’t happen until mid-2019 at the earliest. One of the customers who has put a deposit down has been identified as Yusaku Maezawa, founder of the online Japanese clothing company, Zozo.

The Dragon has already made several trips from earth to the International Space Station carrying cargo, launching on the back of SpaceX’s Falcon rocket. SpaceX is working on preparing the crewed version of the Dragon. The company also has a multibillion-dollar contract with NASA to use the Dragon and Falcon to transport astronauts to and from the Space Station.
SpaceX may not be the only team to have a finger in the lunar pie. If tweets from NASASpaceFlight.com are to be believed, the first flight of NASA’s Orion-Space Launch System is to launch with a crew in 2019. Doing the flight around the moon without a crew would enable NASA to test a wide range of different systems, but with a crew, they would be able to prove that it can send people into cis-lunar space.

Why Haven’t Humans Returned to the Moon Yet?

The short answer is, it’s very difficult. The longer answer is much more complex. First of all, the next trip won’t just be about taking a few steps on the moon. NASA is planning to eventually set up a sustained human lunar presence. So, the goal is much bigger than last time. This means astronauts will require new tools and technologies to enable them to stay on the moon for weeks or months at a time, and NASA has to build a ship capable of transporting a crew and all the necessary gear.

It is Rocket Science

Once the spaceship is built, the next problem is how to get it to the moon. The space shuttles and rockets that NASA currently uses do not have the capability to break through low-earth orbit while carrying the equipment needed for a crewed expedition. The amount of rocket energy required for such a voyage does not exist anymore.

To combat this setback, NASA is working on two new rockets for the next lunar landing: the Ares I and Ares V. Not only will these crafts be larger than the previous spacecraft, but they will also be able to carry much more weight.

Budget Challenges

Size and weight are not the only hurdles to overcome; NASA also has to build the craft within a rigid budget. The budget amounts to $35 billion to build Orion, and the Ares I. That’s a lot of money, but NASA claims that a return trip to the moon is worth it for several reasons. Not only will it add significantly to the amount of lunar science that can be learned, but many of the newly developed technologies could also have applications here on earth. Some examples include closed-loop life support and environmental controls and highly efficient energy storage systems. NASA officials claim that these tech advances alone, are worth the fiscal challenges because of the positive impact they could have for our terrestrial society.

Mastering the Telephone Interview

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In an increasingly competitive market for jobs in virtually every sector, companies and recruiters are commonly asking that candidates go through a telephone interview first. Based on impressions made during a phone interview, the next round of candidates may be asked for an in-person interview. This means that mastering the telephone interview is key. Here are some points to keep in mind when aiming to ace a phone interview:

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Preparation Matters

Prior to the interview, you should thoroughly research the company you are interviewing with and, if possible, also research the interviewer, just as if you were preparing to meet for an in-person interview. Learning about the organization’s key players, markets, and strategies is very important. You can create a sheet of notes to have in front of you. This is one of the perks of having a phone interview.

Also before the interview, prepare a list of questions for the person interviewing you. These questions should serve the purpose of collecting more information about the company and the job duties, so that you are able to fully determine if this is the right organization and position for you. These questions should also help to show the person who is interviewing you that you are the right candidate for the position.

Set the Scene

In mastering the telephone interview, for the interview date and time, make sure you are in a quiet place, free of distractions. Have a copy of your resume in front of you and make notes or highlight any key portions that you would like to bring up during the conversation. Try to be available a few minutes early and have a paper and pen at hand to take notes. If you are planning to use your cell phone for the phone interview, make sure it is fully charged. If you are using a landline phone, then make sure that your cell phone is turned to silent.

During the telephone interview, it is important to listen first. An interviewer will typically start with an introduction to tell a candidate about the company and about the position, including expectations and challenges. You should take notes during this time. If you have particular strengths that would play an important role in helping you to be successful in the position, wait until the interviewer is done speaking and point out those strengths in relation to anything they have just explained.

Consider Points for Effective Phone Communication

When you are in an in-person interview, you are able to make eye contact and you can receive visual cues with regard to whether you are making a good impression or not. When you are interviewing via telephone, you have to rely on voices and verbal communication, so it is important to listen intently and make sure your voice and choice in words convey your experience, your personality, and your interest in the position. Smiling while you speak is very important in mastering the telephone interview. Demonstrating your enthusiasm about working for the organization is critical.

Mastering the telephone interview doesn’t end there. If you are sure you want the job, it is important to end the call with a positive note and thank the interviewer. You should also ask what the next step is with regard to the selection process.

After the phone interview, you can follow up the next day to reiterate your interest and your abilities to do the job successfully.

The job market is competitive and mastering the telephone interview is an important part of the process in ensuring you are prepared to outshine the competition. Once you have followed the steps mentioned above, if you still haven’t heard anything back from the company, you can send another message to follow up about a week later.

Political Awareness in Our Divided, Bi-Partisan World

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Many people have turned away from the idea of being politically aware because they have seen the games of politics used to manipulate and tear others down. The truth is, however, when political awareness is used as a force for good it is an essential skill of life. Whether it is in voting our lawmakers into office or in getting things accomplished within organizations, political awareness gives us an understanding of the power webs and helps us to navigate through these power webs to get things done. Though the idea of political awareness in our divided, bi-partisan world may have some negative connotations tied to it that may give us an inclination to run in the other direction, it is, perhaps, more important than ever to make efforts to consistently remain politically aware.

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Awareness Requires Understanding

With regard to electing lawmakers, here is something that’s important to understand: the point is not about determining which side you are on; what matters is that you are forming your own opinions based on awareness. Understanding the policies each candidate stands for and then determining which candidate best suits your beliefs is critical. The right to vote is something to be valued, there will always be debates about who is the better candidate. At the same time, knowing about policies and about those running for office is what helps us to make informed decisions regarding what will help to further shape our society and our future.

Beyond the political awareness that is needed in making informed decisions pertaining to lawmakers, political awareness is an aspect of emotional intelligence (EI). As a business leader, the higher you progress within a company, the more stakeholders you will be required to work with. Each stakeholder has a different set of priorities, goals, agendas, and personal dislikes/ likes. Political awareness affords you the ability to understand these different types of people and use this knowledge to successfully lead in business. By understanding more, you can work more easily with different viewpoints, have a greater influence, and essentially, satisfy more people.

All of this is needed for success in business, thus offering another important reason why political awareness in our divided, bi-partisan world is so incredibly important.

Effective Leadership is at the Core of Politics

Rather than focusing on political awareness as something that is burdensome, one should look at it as an essential element of leadership that can be used well in order to get things done; in order to progress. There is not a single leader that can afford to turn a blind eye to the political dimensions that inevitably exist within their organization. Organizational politics is about the methods needed in order to get things done, who holds the power to make decisions to get those things done, and who the main people are that influence the decision makers.

Politics will always exist whenever groups of people come together, whether for electing public officials or running an organization. It is a natural fact of life that makes it extremely important to have and encourage political awareness. Developing political awareness skills may start with a simple evaluation of self to become more aware of one’s current state. Are you a good listener?

Where Do You Stand in Terms of Political Awareness?

How politically aware are you currently? How do you handle political disagreements in business, in politics, and in life? Once you have a good grasp on this, then it is time to evaluate the areas where you wish to improve and fine tune things. Remember, political awareness in our divided, bi-partisan world is more than having disagreements with people based on political party or a single issue. It is more about the big picture. It is about being as informed as we can be, on as many issues that affect us as possible, and then making informed decisions based on those issues. It is about being able to discuss differences in a diplomatic way, practicing active listening and trying to work toward the greater good for all in the long term.

Top Digital Communication Trends Enhancing Today’s Businesses

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Communication is a fundamental element in running a business. As a business owner, you should ensure you are remaining in regular contact with customers, partners, and remote employees. You should also ensure that the customer communication journey is unified. In other words, no matter which department they speak to within a company, everyone should be on the same page, so that customers leave with the impression that the team within the company is a cohesive one.

Digital Communication Trends

The forms of communication, which support team collaboration in turn, enable the scale of your existing business to increase. Whether this means opening a new branch, finding new clients, or expanding your sphere of activity either domestically or internationally, digital communication trends are playing a significant role in this area. With that in mind, here are some of the top digital communication trends enhancing today’s businesses:

Cloud Services: The concept of cloud computing is not particularly new, but developments in this area are new. Cloud storage is generally safer in comparison to standard data centers and is more tolerant of faults. Retrieving and transferring data from the cloud online is also simpler than it may be with physical storage. This is important when putting VoIP networks in place. VoIP technology, for example, is more commonly being used in telephone systems today. The use of a cloud-based system versus traditional landlines for telephonic communications allows for mobility, flexibility, lower costs and the use of many corresponding features that perhaps would not be offered with the use of a traditional phone line.

Internet of Things: The concept of the Internet of Things has gradually begun to enter the sphere of business communications. This allows mobile device users to keep in touch from anywhere in the world with the use of different types of wireless connection, such as WIFI, GPRS, and Bluetooth. In addition, IoT allows business owners to provide large-scale awareness of how business processes are put in place. M2M technology, for example, accompanies the IoT concept and provides the capability of gathering important business data on an ongoing basis. M2M technology maintains a constant symbiosis between all electronic active devices that exist within your business.

Artificial Intelligence: The AI concept is best explained by referring to the well-known Siri for iPhone. The software is based on the voice requests of the user and operates based on the chatbot principle. It searches the browser and implements various processes in the mobile device. These types of software solutions are now even more advanced. There are various mobile apps that have been developed for different business purposes, including remote communication processes. In essence, users acquire full-fledged virtual assistants that are able to take up some of the duties of a real employee.

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Communications Tools for Modern Businesses

Each and every year brings us significant developments in business communications. As far as top digital communication trends enhancing today’s businesses, the aforementioned three emerging trends in digital communication present great opportunities for those who develop software to create new software solutions.

With the intensity of competition ramping up amongst various business owners in virtually every sector, it is important for business owners to stay ahead and remain informed of the top digital communication trends enhancing today’s businesses. Communication tools are arguably one of the most powerful tools available for reaching out to customers and forming lasting relationships with your customers.

Digital Communication: the Path to the Future

Emerging technology is constantly raising the bar and changing the customer communication space. From cloud-based communication systems, chatbots, and artificial intelligence to the Internet of Things, consolidator sites and communication ecosystems, these technologies are challenging the way we have always thought about communication and forcing everyone to stay abreast of top digital communication trends enhancing today’s businesses or face being left behind.

Customer Experience: Why it’s a Necessity for All Businesses Today

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A primary topic of conversation circling throughout the business world today is focused on customer experience: why it’s a necessity for all businesses at the current time. Organizational leaders are recognizing the importance of delivering a customer experience that allows them to stand out in comparison to their competition.

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Whether directly related to customer service, product quality or the way customers feel about the organizations they do business with, customer experience is at the top of the list with regard to what determines if a customer will continue to do business with a brand or not.

It All Comes Down to Customer Experience

Current studies indicate that 89 percent of organizations compete primarily on the basis of customer experience. There is a large amount of opportunity to disrupt competitors and gain market share within an industry. Every single thing that a brand does – marketing, research, advertising or other areas – plays a role in forming the customer experience. This is precisely why customer experience is such a necessity for all businesses. In fact, focusing on customer experience may be the most important investment a brand can make in today’s competitive global business climate.

In the past, there were three general ways through which a customer could interact with a company – in person, via a phone call, or through writing a letter. Today, you can add faxing, emailing, and social media outlets including Twitter, Facebook, Instagram, and LinkedIn. Social media, in particular, has given customers an outlet through which to complain to the world if they are unhappy with a product or service they have been provided. Customers who are pleased with products and services also tend to share their experiences via social media.

Improving Customer Experience

With all of these new ways for customers to communicate with businesses, it makes the creation of a unique and powerful customer experience even more challenging. Regardless of the additional challenges, it is a vital component on the road to success for any company and this is why leaders of every organization should sit down and discuss the importance of the customer experience. To provide a starting point for discussion, here are some tips to consider when discussing how to improve customer experience:

  • Data from customer interactions via various channels should all be stored in one place. A customer may reach out via telephone one time and via a live chat the next time, but notes regarding these interactions should all be stored in one location for easy reviewing by your customer service team.
  • Carry consistency throughout the company. Particularly when a company is large, there may be different departments or teams to carry out various individual tasks. This can become frustrating to customers if they are bounced around from one department to the next and the individual teams do not seem to be on the same page. It is important for there to be consistency from one department to the next in explaining procedures and the handling of various situations.

Customers Determine the Effectiveness of Your Efforts

A company establishes what they want their brand to represent and how they convey that message to their market, but the customers are the ones who decide whether or not that message is clear to them and if they are happy with the way it has been conveyed. There is a lot that rides of providing a consistently positive customer experience. A company should hire and train good people and then ensure they are given the right tools to meet customer expectations.

If you are a business owner and have not already, it is time to undertake a full analysis of the customer experience and realize why it’s a necessity for all businesses today.

The Skills You Need for Effective Leadership

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Whether you are an office manager, a project leader, or the CEO, all effective leaders require a number of skills to help positively and successfully interact with staff and other team members. Here are a few of the skills you need for effective leadership:

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The Power of Communication

Communication easily ranks at the top with regard to the skills you need for effective leadership. As a leader, you have to be able to clearly and concisely explain things to your employees. Topics that require communication by a leader may range from a description of goals to details involved in a specific task. Effective leaders have to master all forms of communication, including but not limited to full staff discussions, one-on-one, and communication via telephone, social media, and email. A large part of communication revolves around listening, so leaders should establish a clear and easy flow of communication with their team and staff through regular conversations and an open door policy. Other necessary skills that fall under communication include: clarity, articulation, business storytelling, expression, presentation, reading body language, and reducing ambiguity.

Another one of the skills you need for effective leadership is the ability to inspire and motivate. Effective leaders must be able to inspire their workers to go the extra mile for the company. There are many ways to accomplish this. Among them are: building employee self esteem through recognition and rewards and giving more responsibility to those who show extra initiative, thereby increasing their investment in the company. Some of the skills you need for effective leadership that are related directly to motivation are asking for input, mentoring, team building, thanking staff, and understanding employee differences and concerns.

The Importance of Effective Leadership

Leaders who attempt to take on too many tasks themselves will face challenges in getting things done. Some leaders fear that delegating tasks is a sign of weakness, when it is actually a sign of a strong leader. Therefore, another one of the skills you need for effective leadership is in identifying the skills of each of your staff members and assigning duties to each of the staff members based on their skill set. By delegating, you are able to focus on other important tasks.

Positivity can go a long way in running a business. Being able to laugh at yourself when something goes wrong helps to create a healthy and happy work environment, even during stressful and busy periods of time. Simple acts like asking staff members about holiday plans can help to boost morale in the workplace. Some of the skills you need for effective leadership that are related to infusing positivity in the workplace are developing rapport, humor, helping others, friendliness, respect, empathy, and diplomacy.

Character Traits of Leadership

Trustworthiness is yet another one of the skills you need for effective leadership. Employees should be able to feel comfortable going to their leader with questions or concerns. It is important for a leader to demonstrate integrity as employees will only trust leaders that they can respect. Being open and honest will encourage the same kind of honesty in your staff. The ability to apologize, along with having credibility, accountability, business ethics, consistent behavior towards employees, emotional intelligence, empathy, reliability, and thoughtfulness all support the building of trust with your staff.

A few more of the skills you need for effective leadership include:

  • Creativity: the ability to think outside of the box, analyze, embrace different perspectives, observe, be open minded, and innovate.
  • Give feedback: offer positive reinforcement, mentoring, coaching, and a clear layout of expectations.
  • Responsibility: A leader is responsible for failures and successes and should be willing to accept responsibility when something goes wrong and also evaluate best solutions, learn from mistakes, and reflect.
  • Commitment: this includes follow through, determination, passion, and work ethic.

Last but certainly not least, flexibility is one of the skills you need for effective leadership that is most important as mishaps and last minute changes happen often. Adaptability is critical in being an effective leader.

Expert Tips for Moms with a Home Business

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If you’re a new mom you may not think that the timing is right to start a new home business, but the timing may actually be perfect. You’re probably already rethinking how you spend your time and how you’re going to need a job with some extra flexibility. Your baby might even be the reason for your new idea; many new parents have created products out of accidental trial and error and last-minute need.

Of course, you do need to think about the serious risks and things that you’re giving up, like a weekly paycheck. Everyone is different but if you find that the risk is worth the reward then read on to find out about what it takes to succeed as a mother and as a CEO of your own business, run from home.

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1. The Work is Going to be Hard

People often believe that working from home is just sitting at home all day, but the reality is much different. They don’t realize that there is actual work that must be done, and it all falls on your shoulders. It may look comfortable and relaxed to your family and friends, and maybe even your overworked spouse, but small businesses require a great deal of effort when starting off. Remember to work towards bringing in new clients and really growing your business because there may be a lot of naysayers in the beginning.

2. Find Balance

This may be hard at first, but just like when you had your new baby, you had to completely change up your schedule. Eventually, you made it work and it was all worth it. That’s just how running your business from home will be. Remember that creating a schedule that works for you, your business, and your family will take time to get used to. There will be twists, turns, and unexpected blow-ups; you might feel like you’re failing if you don’t see the revenue you want rolling in right away. It’s important to stay grounded, though. Take a step back whenever necessary, and persevere through the bad times and know that the good times are on the way.

3. You and Your Baby Need Health Insurance

If you live in an area where your health insurance needs are covered or if your spouse has good insurance to cover your whole family, then you don’t have to worry about this one. Single moms, however, need to take their baby’s health into consideration before starting a new business. Health insurance is a must when it comes to your child (and yourself), so be sure to budget this in.

4. Set Realistic Expectations

It’s okay to dream; that’s how you came up with your business in the first place. But if you think that running a business and taking care of your family is going to eventually become a piece of cake, you may want to rethink some things. There are immense perks for moms with their own home business; you get greater flexibility, more time with your family, the ability to oversee your children’s needs with greater ease, however, the challenges will be there without a doubt. When you’re juggling a full-time business with a full-time family, things can and will go wrong. You might need to take an important phone call just when you can’t get your child to stop crying, or you might have to skip out on date night with your spouse because one of your clients is in China needs immediate attention at an unusual hour. This goes back to #1, if you think you’re going to just be sitting at home all day playing with the kids, you’ve got it wrong. Being a mom with a home business is much different than being a stay at home mom.

5. Decide When You’re At Home and When You’re At Work

You might need to lock yourself inside your office just to get some alone time with your work at times. If your family and business are too much of a demand, you are going to need to take some time out from one or both in order to manage. Owning a business and working from home will not be any less demanding than owning a business down the street. The main difference is that your stress from home is more likely to creep in at one over the other. Let your family members know when you’re working and when you’re off duty, otherwise, frustrations will set in, and everyone will feel the effects of it.

6. Take Advantage of Digital Tools for Automation and Convenience

Running a business can be really difficult, and business owners of all varieties have found immense value in an array of tools that exist to simplify daily functions and cut down their busy work. As a busy mom with a business being run from home, we can’t stress the importance of streamlining your processes as much as possible. Depending on your business model and the type of business you have, it is very much worth it to learn about options like virtual phone numbers and call forwarding, hiring freelancers to handle some of your busy work, and different automation tools such as MailChimp and Hootsuite.

Having a new business or a new baby can be hard things to manage for anyone. However, if you’re ready to take on the challenge of having both, then you’re ready to enjoy double the success and double the rewards that come with both. Keep an open mind, stay flexible, and stay centered on your goals. Home businesses are a reality for many moms out there for good reason!