"Build your network" is common advice given to professionals looking to find new jobs, make major business moves and succeed in their careers. But when the busyness of life and work sets in, it can sometimes be difficult to build and then nurture those relationships so they maintain their strength over time.

Without these relationships, you may miss out on potential opportunities or connections that could play an important role in your future success. To help you find the balance needed to manage both your network and your personal life, 10 members of Young Entrepreneur Council offer their top advice for maintaining professional relationships while also prioritizing your personal ones.

1. Prioritize A Small Number Of People
​As with all things in life, networking should be done intentionally. If you are busy, focus on keeping in touch with a small group of people whom you believe can add value to your development and provide you with opportunities. Schedule meetings or calls on a regular basis and always keep them in mind. Send them an article. Tag them in a post. Share information that they would be interested in. Make sure they know you are thinking about them. - Zane Stevens, Protea Financial

2. Join The Right Groups
join high-level mastermind groups that typically meet six to eight times per year. If your time is limited, that amount is pretty much all you need when you are part of the right groups. These groups typically communicate via Facebook or a similar platform throughout the year. The people that are worth staying in touch with will make the time. But the reason I like these types of mastermind groups is because in those six to eight days of the year, you are doing most of the networking you will need to skyrocket your business. - Philip Smith, PJP Marketing

3. Block Time On Your Schedule
Trying to build, nurture and maintain a network can feel like a full-time job in and of itself. You’re not only busy running a business and maintaining a healthy work-life balance, but you're also scheduling meetups to strengthen professional relationships—it can be a lot to juggle. But those connections you make can impact your life and business for years to come. What was a simple introduction a year ago could turn into a valuable opportunity today. You might meet a lifelong mentor, a business partner or a like-minded friend. Just as you would with anything else important, schedule in time for networking activities and industry events. Block out time once a month where you attend an event, reach out on a video call or meet at a local coffee shop. Even just 30 minutes goes a long way in nurturing network relationships. - Blair Thomas, eMerchantBroker

4. Leverage The Efficiency Of Technology
Leverage technology to maintain connections efficiently. Schedule virtual coffee chats via Zoom or Microsoft Teams, use video conferencing for meetings and stay engaged with your network through social media platforms or professional networking sites. - Kristin Kimberly Marquet, Marquet Media, LLC
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5. Meet Up When Traveling
Spend some time engaging with your network on LinkedIn all day. Sometimes a small comment in support of somebody will keep you top of mind. I also make a point to see people when I travel, so I always check before traveling to see who I know in a city, contact them and set something up to meet in person. You might as well take advantage of the fact that you're in the same city to meet up. People will appreciate this. And, always encourage them to contact you when traveling to your city. Letting people know you're always open to meet is half the battle. - Andy Karuza, NachoNacho

6. Contribute To The Community
The best way to maintain and nurture network relationships is by contributing to the community. Professionals often tend to seek benefits from their network, but they're laid back when it comes to giving something back to the community. With this frame of mind, they may be able to grow their network at the start, but it would be difficult for them to maintain their connections. So, it's great to share something of value from time to time and be a giver for the community. It'll be a win-win for all and help you ensure fruitful relationships in the long run. - Stephanie Wells, Formidable Forms

7. Turn Your Personal Passions Into Opportunities
Your personal passions can be networking opportunities. If you love working out, get a gym membership and have some business cards on hand for those inevitable chats that happen. This applies to any activity you might be passionate about. You may want to supplement by getting into the habit of sending out a few invites on social platforms each day as well. Use the platform where you are most active to do this. Don't give up if there is no action right away. Keep up with your hobbies and invites, and make sure you have something to offer, as it is not a one-sided ask. Know what you can give in a conversation, not just what you want to get. - Tyler Bray, TK Trailer Parts

8. Focus On Small Gestures
You don't have to do a lot to actively maintain a network, especially when you're busy. Just try to make small gestures like leaving a comment or sending a quick note. Anything to let people know you're thinking of them goes a long way. Small gestures are far more effective than making effusive overtures after gaps in communication. Focus on engaging in small ways time and again and this will keep your network alive. - Syed Balkhi, WPBeginner

9. Call To 'Just Say Hi'
Navigating a busy schedule and maintaining a network can seem challenging, but it can be managed effectively with "Just Saying Hi" calls. Use your driving or commuting times to personally connect with your network. Pick up the phone, no agenda, just to check in and see how they're doing. This seemingly simple act brings a personal touch to a digitally saturated world and keeps relationships warm. In an era when people crave genuine connections but are often hesitant to initiate, you'll not only stand out but also strengthen your bonds. - Devesh Dwivedi, Higher Valuation

10. Make It Part Of Your Everyday Actions
I've found the best way is to incorporate networking into my everyday actions. Scrolling through LinkedIn? I like, share or comment on stuff people from my network posted—any interaction does the trick. I'm texting my wife? I haven’t talked to John in a while; let's ask him what's up. I just read an interesting article? I’ll share it and get a debate going. Someone tells me about a professional issue he has? Well, I know just the person to solve it, so I'll make the connection. If you're not used to networking this way, just start training that muscle and, eventually, it'll come naturally. ​Idan Waller, Bluethrone


​Source : https://www.forbes.com/
​Image Credit : Getty

Of all the considerations an entrepreneur has to make when starting a business—what to name it, how to price the products and more—the legal considerations are perhaps the most important. From determining a business structure, to complying with local labor laws, to ensuring you prepare for and properly file your taxes, forgetting to account for any of these aspects could lead to disastrous legal consequences down the line—ones that may be impossible to recover from.

To ensure you don’t make any legal missteps as you begin your entrepreneurial journey, consider the advice of those who have experience dealing with the legalities of starting a business. Here, 10 members of Young Entrepreneur Council outline some of the most important legal considerations to make when starting a business and why handling these tasks should be at the top of your to-do list.

1. Accurate Tax Filing And Documentation

Ensure accurate tax filing and documentation from the very first year. Missteps in this area can lead to significant penalties, audits or even legal actions in the future. Also, early mistakes can snowball over time, making them more difficult and costly to correct later. Investing in a competent accountant or tax professional from the outset can be a wise decision to prevent such potential issues. - Yury Sokolov, Finazon

2. Registration For Data Protection And Privacy Compliance

For immigrant founders, it's really important to have the right immigration status when starting your business and to own the company IP. Some founders register their company in the U.S. for sales primarily and then have their development offshore to protect IP rights to the software. If you are building a data-centric organization, take the legal considerations one step beyond to prioritize registering for data protection and privacy compliance. Validate your customer and product usage data rights and make sure your business is registered in a country or state where you can outline ownership of data as part of your terms of service. - Surbhi Rathore, Symbl.ai

3. Clear, Detailed Contracts And Agreements

When you start a business, it's really important to create clear and detailed contracts and agreements. These are legal documents that explain the rights and responsibilities of everyone involved in the business. Having good contracts helps prevent disagreements and protects everyone's interests. It also shows that your business is trustworthy and professional. Contracts make sure you follow the law as well as help you run your business smoothly. It's a good idea to get help from a lawyer to help customize the contracts to fit your needs and review them regularly. By focusing on clear and comprehensive contracts, founders can keep their businesses safe and build good relationships with customers, partners and all others involved. - Kazi Mamun, CANSOFT

4. Your Business's Legal Structure

The first legal consideration that founders need to consider when starting a business is the entity’s legal structure. Depending on your business type, desired operations and long-term vision, you’ll need to decide on whether you want to start an LLC, S corporation, C corporation or nonprofit organization. Not only does this decision impact things like taxation and investors, but it also affects your liability as an owner and founder. Always start by limiting your personal liability from the company’s liability. From there, you can worry about obtaining legal counsel, securing appropriate licenses and maintaining the right insurance. But protecting your personal liability must always be the first step. - Ian Blair, BuildFire

5. Proper Insurance Coverage

When embarking on an entrepreneurial journey, new founders must prioritize obtaining appropriate insurance coverage for their businesses. Starting a business involves risks, both known and unknown. Insurance acts as a safety net, protecting you from potential financial losses that may arise from unexpected events or liabilities. By securing the right insurance coverage, you mitigate risks and gain peace of mind. A few reasons why insurance should be high on the priority list includes liability protection, property protection, business interruption and professional liabilities. It demonstrates your commitment to responsible and prudent business practices, instilling confidence in stakeholders and potential partners. - Abhijeet Kaldate, Astra WordPress Theme

6. Employment And Labor Laws

​Employment and labor laws are absolutely essential considerations for every founder to take care of. You need to protect the interests of all parties involved—your business, yourself, your employees and other stakeholders. You have to understand the classification of employees, overtime pay and more. You also have to follow fair practices, ensure there's no discrimination and protect your and your employees’ intellectual properties and contributions. Make sure that you hire the right people to help you comply with labor requirements right from the start to avoid problems down the line. - Syed Balkhi, WPBeginner

7. Intellectual Property Protection

One critical legal consideration that new founders need to prioritize is protecting their intellectual property (IP). This includes trademarks, copyrights and patents. Safeguarding IP assets is crucial for establishing a competitive advantage, preventing others from using or copying your unique ideas, products or brand identity, and maintaining the value of your business. It is advisable to consult with an intellectual property attorney to identify and protect your IP assets through proper registrations, contracts and confidentiality agreements. - Ismael Wrixen, FE International

8. IP Or Patent Violations

When starting a business, it's important for founders to be wary of intellectual property and patent laws and to make sure they don't violate any. Intellectual property laws may apply to even the most basic of things that aspiring entrepreneurs are either unaware of or fail to consider, such as the name of the business, the company's logo, item design, content and so on. Violating these laws would not only lead to the demise of a business before it has even started, but it could also cause the founders to face severe penalties that would haunt them for quite a long time. Research is the key to avoiding such legal complications and helps new founders kick-start their businesses successfully. - Stephanie Wells, Formidable Forms

9. Proper Industry Licensing

One of the most important things to do is get proper licenses for the industry you're in. This is especially critical because having the right licenses ensures that your business operates legally and doesn't risk being shut down by authorities. Plus, the added benefit is that you appear legitimate and more trustworthy to your audience and customers. You can show that you comply with industry regulations and build a positive reputation, attracting more customers—something that is essential for success. - Blair Williams, MemberPress

10. Former Non-Compete Agreements

Consider if you still fall under any previous non-competes. Many entrepreneurs are inspired to start their businesses based on their past experiences; however, issues can arise if you are in breach of any non-compete agreements you signed in the past. Think hard about whether or not your new business directly competes with a previous employer. Review the contracts you've executed to determine the exact prohibitions and their expiration dates. When in doubt, seek legal advice or start a different business instead. You don't want to burden yourself or your business early on with such an avoidable issue. - Firas Kittaneh, Amerisleep Mattress



Source: https://www.forbes.com
Image: GETTY

The future is uncertain. Inflation is surging, a recession seems inevitable, and war continues to rage. But in Libya, this situation isn't new. A struggling economy and unpredictable external circumstances? That's the norm for us.

Businesses, especially the tech industry, are doing mass layoffs, rescinding job offers, you name it. If your business is going through a bit of a lull, here are a couple of tips on what to try to get over the hump.

1. Diversify the projects you have on the go

When I returned to Libya in 2017 after living in the West for several years, I came home and saw many issues. They were things that wouldn't have been a problem in a place like San Francisco — getting a passport, for instance — a non-issue in the West and a non-starter in Libya. There was an overwhelming lack of modern infrastructure.

I saw these issues as problems that I could help solve, though. I just had to figure out which one to pursue first. Eventually, I landed on a project, but that didn't stop me from compiling a list of ideas for further down the line. With each idea I came up with, I would also register a domain name so that when the time arrived, I'd have what I needed to do the job.

Founders tend to avoid diversifying their projects because they don't have the resources — financial or human. But that doesn't mean that lulls don't hit. You need to be prepared to pivot when necessary — that means you're always able to provide value.

Diversifying isn't about trying to have a finger in every pot – it's more like nesting dolls really. You have to make an informed selection about which projects fit neatly with one another and make sense to work together.

Recently things have slowed down with our current project. Rather than sit around twiddling my thumbs, I returned to my old list of ideas and looked to see if there was any room to diversify my current projects. There were plenty – in fact, I had to once again make a careful decision about which angle I wanted to pursue.

The digital addressing system we'd created highlighted the overwhelming need for digitization in other realms. We had the tools and the people at our disposal to try digitizing the new frontier — digitizing the archives of private and government entities. Any time you diversify, you're taking a risk — but taking risks can pay off in big ways — trust your gut.

2. Upskilling not upscaling

With the markets as unstable as they are it might not be the right time to scale up your business. But there's virtually no bad time to upskill your workforce.

The phrase, "You are who you surround yourself with," is even more true when it comes to business. As a leader, who you have on your team is absolutely crucial. Your employees are the people that you're choosing to help execute your vision; they're the people who share their big ideas with you. Ensuring you have a highly skilled workforce isn't just beneficial to your company but also keeps your staff happy.

One of the biggest reasons employees leave their jobs is a lack of growth or learning. By offering workshops and courses to your staff, you are investing in your employees and creating highly skilled workers and giving them a sense of purpose and helping them grow. Making these kinds of learning seminars beneficial on two counts — a highly skilled workforce; and better employee retention.

When we first entered this slow period, I could see my team was bored. They were feeling scattered and aimless. Since we had more time, I decided now would be the perfect opportunity to offer English lessons. And the program flopped… I had wanted everyone in the company to be fluent in English so badly that I didn't notice that some team members weren't interested in learning the language or didn't even see its value.

So, I met with all of the department heads and asked them what kinds of skills and courses they thought would be most valuable to each team. They had a whole bunch of ideas that uniquely fit within each area of the company – email skills, working as a part of a team, and yes, English. By focusing on the unique needs of particular subgroups within the company, we could offer courses that provided real value to our employees and empowered them within the workplace and outside of it too.

When you invest in your team, you mold them into better workers and create passionate, intelligent individuals who believe in your vision. There's no tradeoff.



Source: https://www.entrepreneur.com
Image Credit: ​Pexels.com | Photo by Kampus Production

Bold, assertive self-confidence can be conceptualized as an unshakable faith in one's abilities, skills and competence. It's a firm conviction in one's potential to navigate obstacles, achieve set objectives and make informed decisions. More than simple self-assurance, bold, assertive self-confidence involves proactive action based on your deeply held beliefs, instilling a sense of agency and control over your life's trajectory.

This dynamic construct plays a pivotal role in pursuing personal and professional success. Bold, assertive self-confidence shapes how we perceive and react to challenges, transforming potential roadblocks into opportunities for growth and learning. It enables us to take calculated risks, fosters resilience and promotes a growth mindset. When cultivated and harnessed, assertive self-confidence acts as an internal compass, guiding us toward our goals and visions, even amidst uncertainty and change. It's the fuel that powers our journey, empowering us to envision success and actualize it. Hence, assertive self-confidence is not merely an attribute; it's a catalyst that propels us toward our desired future.

The power and impact of bold, assertive self-confidence

There are substantial positive outcomes to be gained when the belief in yourself is aligned with the effort required to achieve your goals. You must be willing to do the work. Below are five key measures of the power of bold, assertive self-confidence:

1. Drives action and motivation: An integral aspect of bold assertive self-confidence is its role in motivating individuals towards goal-directed behavior. It is a propellant that spurs entrepreneurs and leaders to formulate ambitious goals and take strategic, decisive actions, enabling them to transform passive aspirations into tangible achievements that are supported by meaningful measures.
2. Cultivates resilience: The entrepreneurial landscape can be full of obstacles and setbacks. However — bold, assertive self-confidence allows individuals to perceive these adversities as opportunities for learning and growth. This perspective fortifies resilience, equipping entrepreneurs to endure and adapt, even in the face of the most daunting challenges.
3. Ignites leadership potential: Leaders emanating bold, assertive self-confidence inspire a similar sense of assurance within their team members. This reciprocal dynamic fosters a culture of shared confidence, leading to enhanced team performance, improved problem-solving abilities, and, ultimately, collective success.
4. Promotes calculated risk-taking: Bold, assertive self-confidence enables you to navigate uncertain business terrains and new situations confidently. This mindset encourages informed, calculated risk-taking — a necessary ingredient for significant business breakthroughs and innovation.
5. Fosters a growth mindset: Bold, assertive self-confidence nurtures a growth mindset, a belief in the potential for personal and professional evolution. Individuals who hold this belief perceive intelligence and talents as traits that can be honed and augmented, encouraging continuous learning, improvement and innovation.

Cultivating bold, assertive self-confidence: Practical strategies for implementation

1. Set and achieve small goals: Boost your assertive self-confidence by setting achievable goals. These milestones reinforce your belief in your abilities and incrementally build your self-confidence. Establishing and accomplishing manageable goals creates complete trust in your abilities, paving the way for more significant successes.
2. Embrace continuous learning: Make learning a lifelong pursuit. Expanding your knowledge base and developing new skills will equip you to handle business challenges and solidify your belief in your ability to grow and adapt. Adopting a lifelong learning mindset enhances your adaptability, reinforcing your confidence in your growth potential and leading to success in ever-changing business landscapes.
3. Cultivate self-compassion: Practice kindness towards yourself, especially when you encounter setbacks or failures. Recognize these experiences as stepping stones to success, not as insurmountable roadblocks. Practicing self-compassion in the face of setbacks fosters a resilient belief in your journey, viewing each obstacle as a step to success rather than a deterrent.
4. Engage in positive self-talk: Reinforce assertive self-confidence through affirmations and positive self-talk. Regularly acknowledging your abilities and successes can replace self-doubt with a more resilient self-belief. Positive self-talk fortifies bold, assertive self-confidence, replacing self-doubt with resilient self-belief, thus catalyzing personal and professional achievements.
5. Visualize success: Picturing your goals and visualizing your path to achieving them can strengthen your self-confidence. This mental exercise helps make your ambitions more attainable and motivates you to strive. Visualization practices solidify your self-confidence and belief in achieving your goals.​

In essence, assertive self-confidence is the key to unlocking our potential and achieving lasting success in our lives and businesses. Only by believing in ourselves can we develop the courage and resilience to face any challenge with assurance and grace. As entrepreneurs, we must take the initiative to foster a culture of trust and optimism in our organizations.

When we all work together to create and sustain healthy, positive beliefs — through self-compassion, positive self-talk, goal setting, learning and visualizing success — our collective journey will be filled with meaning and accomplishments. With unshakable trust in ourselves comes an abundance of strength that drives us forward while keeping us grounded. So, let's dare to dream big; it's time to let bold, assertive self-confidence lead the way!



Source: https://www.entrepreneur.com
Image Credit: ​Pexels.com | Photo by eberhard grossgasteiger