Colby Burke Discusses 3 Reasons You Should Consider Starting a Business in Hilton Head This Year

Individuals interested in starting their own business have to make a number of decisions before taking the plunge. They have to decide what type of business they want to get into and what their overall budgets will be. Individuals also have to decide what area they want to open their business in. Colby Burke Hilton Head suggests that more of these businesses consider getting their start in Hilton Head. Hilton Head is a successful example of the pro-business climate that has allowed thousands of business to thrive across the country in the past ten years. 

Tax advantages

Colby Burke Hilton Head argues that 2019 will be a great year to start a business for a wide variety of tax reasons. The full impact of the 2017 tax law will be felt. Companies will have to pay less in corporate taxes and have a more favorable environment for investment. This favorable setting is more pronounced in South Carolina than other places. South Carolina has one of the nation’s lowest tax rates for corporations. Several prominent factories have already been built in the state over the past three years. 

Successful economy

The economy has been successful for some time and is in a good situation for corporate expansion. Interest rates remain low in many places and banks are eager to lend money to start new businesses. Wages have begun to rise after remaining stagnant and harming workers for many years. The tourism industry is still booming and has been since a few years after the end of the Great Recession. 

Areas like Hilton Head thrive when people have enough money in their pockets to go on vacation. More tourism means more tax revenue for the state and city and more money for banks to lend to new businesses. A large number of tourists also improves the chances of a new retail small business getting off of the ground. In addition, businesses that cater to other businesses find a high level of success when there are many tourists and an area is booming. 

Booming area

The island of Hilton Head is a particularly attractive place to start a business. Hilton Head has expanded past its historical reputation as a limited resort for the rich and famous. There are frequent new buildings and businesses moving in on a regular basis. New hotels, restaurants, and golf courses attract the tourists who spend their money at local businesses. Hilton Head is also attracting advanced entrepreneurs and tech businesses. These businesses can attract talent because of their proximity to the beaches and attractions that have made Hilton Head so popular with such large numbers of tourists. 

Conclusion

Starting a business is by no means a guarantee for success. Individuals still have to pour hundreds of hours and thousands of dollars into their business plan. Even the best business plans can be derailed by unseen forces. But starting in a successful area places an individual on a head start towards success. Starting a business in Hilton Head, instead of in another far-flung area, could mean the difference between success or failure for any small business.


What Are Reputation Management Consultants

For a business today, it is important that a business is online. In addition to being online, it is important that the image of the business online is a positive one. It is crucial for success. If there are negative reviews or social posts, or additional negative PR, it can be the end of a business. That is if it is not handled properly.

What are Reputation Management Consultants

Not everyone knows how to handle a negative situation online if it comes up. That is why businesses today are looking into having reputation management consultants to handle and boost their online image. Reputation management consultants offer comprehensive services to help to remove online bad reviews and content and help to promote a positive for the company, through positive news and reviews. In some situations, the reputation management consulting group also help to handle crisis situations and problems. The consulting services also help to establish and protect a brand’s image, including the business itself and its leaders like the CEOs and executives.

What Strategies do the Reputation Management Consultants Use?

There are several ways the consultant groups help to establish and maintain a positive image for brands.

Social Media Managing

Social media is one of the first ways people look for a business. Using social media is a great way to grow your business, but negative comments or inappropriate pictures can quickly cause a negative view of a business. Using reputation management consultants a business can clean up the social media accounts, create engagement across social channels and make sure the accounts are appropriate for the business.

SEO

SEO or search engine optimization is how information on the internet is shown when using search engines like Google. Using SEO online content can rank higher or first during a search result. When a website shows up first or on the first page of a search engine, it usually means that there are more visits to the website and more customers can find the business.

Using SEO, the reputation management consultants firm is able to push the positive information about a brand or business and lessen the likelihood that the negative information shows up in the searches. Using positive content that is optimized for search engines, the negative results are not the first things to show up during a search for the company.

Online Reviews

Many companies use reviews to get feedback for the services provided and to let other potential customers know what to expect of their services. When there are positive reviews, a consulting firm can use these reviews to promote the company on search engines and on social media. When a negative review is left, the reputation management consultants get notified quickly and can handle the situation before it makes the company look bad.

Content Management

In order to grow a business’s online reputation, it is important to have quality content on the website. This content, whether it is on a website or a blog, needs to be well written, unique and provide quality information. The reputation consultants will help to improve the content that is currently on the website and help the business create additional high-quality content. When the content that the business provides is worth reading and is relevant, it adds credibility to the brand and helps to add credibility. This increases the brand’s reputation.

Since a reputation can be difficult to grow but can take almost nothing to damage, using reputation management consultants can ensure that a brand is being seen as a brand that others will be happy to work with.


A deck with a great view

How to Develop a Reputation as a Niche Business

A good reputation is very important for every business because it is one of the factors that attract new customer and help retain the current ones. A strong reputation is one that does not change easily despite having an occasional negative review or despite you making a certain mistake. Building a good reputation can be less challenging but maintaining it can be overwhelming because people can have different opinions and perceptions about your business. Some of these perceptions may lead to misinterpretation of something related to your business and if not handled well can ruin your reputation. Therefore, you can use the following tips to ensure that you develop and maintain a good reputation on both online and offline platforms. 

1. Gain More Knowledge About Your Niche Business

When customers approach you either physically or from online channels, they expect you have all the details about the products and services you are offering to them. It is your duty then to gather and enhance your knowledge in the industry you are operating in. Attend business seminars and conferences relating to your niche business, do your research online and form positive networks with like-minded people. This way, you will be fully equipped with all the answers that your customers may have for you. For instance, if your niche business involves dealing with dock supplies and a homeowner or a contractor wants to know something about lumber, lighting, railing or any other accessory, it is good to have this information handy. Also, be willing to share this knowledge with other people in meetings and also through online blogs or social media posts. Having the knowledge and being willing to share with others will build your reputation and attract more customers to your niche business. 

2. Invest in a Good First Impression

The first impression can either build or prevent a strong relationship from happening. Always remember to present yourself the way you want people to see you because either way, they will judge you before you even open your mouth. The first impression is sometimes one of the undervalued aspects in business, but it is very important when it comes to the development of a good reputation. There are different ways to impress customers, and it includes everything from your attire to the way you receive or greet your potential customers and your confidence when you talk. The success of your niche business will depend on how you represent it. 

3. Communication Skills

Communication is key when it comes to developing and maintaining a strong reputation for your niche business. For example, if you’re working to install a deck for a client, even if they have not requested an update about the progress of their decking project, send an email to let them know you care. You will not only start building a strong relationship, but you may trigger placement of a new order for other products like dock accessories. However, do not keep on emailing your customers after every five minutes because that will become a nuisance to them and most probably make them block your emails. Also, consider asking for feedback about your products or services from your customers, as this will prove that you value their opinions and are willing to improve based on these opinions. However, when you get this feedback, stay on top of responding to them. This form of interaction will drastically improve your relationship with customers and hence build a strong reputation. Ensure that you can communicate effectively with your current and potential customers and this will build and maintain your reputation. 

4. Promise What You Can Provide

Everything you promise your customers should be provided as promised and within the time promised. If you are not available to deliver something in the timeframe you promised, delegate that task to someone else to avoid disappointing your customers. Sometimes an emergency can lead to a delay of delivery and if this happens to you, alert the customer in advance to avoid looking like a scammer or a flake. This is one of the strategies that companies such as Decks & Docks Lumber Company have been applying for the last 20 years, which is ensuring rapid delivery of dock supplies to their local and international customers. Apart from valuing delivery time which is very important, deliver the exact product or service that you promised or which the client requested. Everyone wants to work with a supplier who values their time and needs, and if you can master this trend, your reputation will remain strong throughout. 

5. Consider Helping Other People Achieve Their Goals

This is a very important technique when it comes to building the reputation of your niche business because when you help other people succeed, they will look forward to continuing their work with you. This is one of the reasons why most successful businesses use customer success to attract and retain customers. Help others, and they will be willing to help you in return. This includes your customers, employees, friends, relatives, and business associates among others. They all play a big role in your business success. 

6. Improve Your Online Presence

If you have a website for your niche business, make sure that it is friendly, easy to navigate, fast and compatible with mobile phones. This is your first step in developing a good online reputation. Also, use social media platforms to tell people about your brand and when doing this, ensure that you post regularly, publish up-to-date content and interact with your online commenters. Your online presence is very important for the development and maintenance of a strong reputation in today’s digital world.


David Buck

David Buck Interviewed On Inspirery

David Buck

Experience isn’t the only thing one needs in business, it’s also a proven track record. That’s what David Buck has to offer. David is a renowned horticulturist with years of experience.

When David isn’t working on his farm or consulting on other projects, you can find him traveling the US and abroad.

You can read David Buck’s full interview on Inspirery by visiting: http://inspirery.com/david-buck/


Frustrated Businessman

Working Through Setbacks and Learning from Failure

Setbacks happen in life, but it is important to make sure that the setbacks don’t control your life and cause you to stay stuck in a rut. The most highly successful people have failed several times. Failure doesn’t mean that you are not successful or not on the right path. In fact, they learned from their setbacks and then used the learnings to teach others how to avoid them.

The media usually hears about the big-time success of people after they have made it. Unless they specifically share how they pushed through their failures, the public doesn’t know if they failed or not. The success is praised and others often try to mimic it, but the setbacks will creep in. Those setbacks after seeing a success can wreak havoc on the mind. This is where the comparison of achievements begins, but only one person has the achievement receipts.

Many are afraid of failure and setbacks can stop someone in their tracks. They may lose interest, start something else, become depressed, or have self-doubt, but how many will take the setback and learn from it? That is the most important thing about a setback; you must learn how to come back from it. Since childhood, many have heard that we shouldn’t be afraid of mistakes or apologize for a mistake because it should have never happened in the first place. This is untrue thinking when it comes to the real world.

No one is perfect, and we can’t avoid failures. Whether you fall on hard times or lose that multi-million dollar contract, managing the failed experience without becoming overwhelmed is crucial.

So, how can one learn from a setback and use it to their advantage? Here are four ways to overcome a setback and instead make it a learning experience from Nate Armstrong of Home Invest:

  • LEARN TO ACCEPT THE FAILURE

When times are tough, it is hard to stay optimistic about the situation, but this is key for a positive learning experience. People often misconstrued positive thinking.. Smiling and pretending to be happy on the surface is not positive thinking. You must actually sit down and realize that this situation will not destroy you. Positive thinking should be used as an evolving tool when failure strikes.

Don’t go out of your way to set yourself up for failure, but face setbacks as they come with the aspiration that it is not the end game for you. If you can remember that the journey will have curves and bends along the way, then you are able to get through any obstacle and stay positive.

However, it is okay to have a moment where you feel disappointed, or upset, want to cry, or feel angry. Do not internalize the feelings.

  • LET IT OUT

As mentioned before, Nate Armstrong says not to hold it in. You should let out your frustration when hit with a setback. Take a walk, meditate, listen to soothing music, write it down, or go into an area where you can scream it out. This is how the acceptance process begins. The emotional surge you feel is only temporary and your mind will reset, allowing your brain to concentrate on bouncing back.

  • TRUTH PILL

The truth pill means being unapologetically honest with yourself about the situation. Now is not the time to shy away from the truth of the matter. Many people will blame circumstances or someone else for a failure instead of being accountable and taking ownership for their part. This is crucial when it comes to learning from a failure. Reflect on how this happened. Try and pinpoint what went wrong in order to correct it. Don’t rely on a distraction; honestly confront the setback and own the mistake. Don’t let it own you or control your feelings.

  • FAILURE CAN CONTRIBUTE TO FUTURE SUCCESS

Failing to succeed means you are continuing forward with your plans, but you have to develop new tactics to hurdle over any failures. You will make the appropriate adjustments to the situation quicker than before and will not dwell on it as long as before. Take in the information that was learned during the setback to create a different outcome if another setback arises.

In Conclusion

A failure does not define the person who failed; it is a bump in the road and the person should keep moving forward. It is ultimately up to the individual to want to overcome the setback and learn from it instead of letting it deter them. The setback is only a temporary block, so remember to shift the way your mind perceives the matter. Become efficient with the process and you may start to see opportunities where others can only see failure.

Nate Armstrong is the Investor Relations Chair for Home Invest and leads a team of real estate investors in Milwaukee, WI. Nate works alongside his wife, Jenifer.


Licensing

How to License New Products

How the Process of Licensing Works

Once you realize you have a brilliant new idea, it is hard not to get excited about how to make it something big and successful. If you are that person who has a new product or service that can change peoples’ lives, you should know that it is the first step of becoming a successful entrepreneur. You can either license the product independently, or license it to another company. Either way, here are some tips that would help you license your great idea without fail.

1. Research Exclusivity

After realizing you have a great idea and you are ready to license it, you must research to ensure that no one else has licensed it. You might find that your brilliant idea is indeed excellent but not new because someone else has already patented it. You can visit the United States Patent and Trademark Offices or Google your idea to see if it’s patented. If it’s patented, all is not lost.

2. Don’t Lose Hope and Instead Be Creative

It can be a very disappointing moment if you find that your brilliant idea is already patented by someone else. The good thing is that you can find your way out there by making a small improvement to your idea, and this way you will be slightly different from other inventors and hence more competitive. According to Blake Myers, the Chief Executive Officer for Universal Manufacturing Corp, people love new ideas but even the old-improved ideas, tend to excite them too. Therefore, you don’t have to reinvent the wheel to be a successful entrepreneur; be creative.

3. Check for Availability Of Market

Every product or service that gets introduced is expected to solve a certain problem that the members of the public are struggling with. Ask yourself, is my new product going to solve any problem among the people? To answer this question, you will have to find if there are people eagerly waiting to use your product or service. If no one is interested in your new product, you can delay paying for your official patent.

4. Be Slow but Sure

Unless it’s necessary based on the kind of idea you have invented, never be in a hurry to file an official patent. When people start creating their product designs and testing it, a lot of details tend to change before concluding with the final design. These changes might alter the specifications you identified in your original patent. This means you will be required to file another patent, and it will be unnecessarily expensive. However, if you are afraid of not patenting your idea right after identifying and confirming it, you can try a temporary patent that will buy you time to make any necessary changes. Once you are sure of no more changes, you can file the official patent, and this will cost less than filling two official patents.

5. Ask an Expert

Patenting and licensing a new product can be complicated and overwhelming to do alone, especially if you do not have the necessary skills. You might be smart to come up with a great idea, but you should never shy away from asking help from an expert such as an attorney. There are numerous nuanced expressions in patent and licensing laws, and you might require an expert to not only help you understand but also to help you to comply with all regulations.

6. Market Your Idea

There are numerous ways you can do this starting from word of mouth from you, your friends, family and business associates. Consider creating an ad for your prototype and different individuals and companies will get to learn about your idea. Multimedia can also be a good start because you will learn if your idea is viable or not from the reaction of different companies. Do not rely on one company but rather target multiple companies because it is possible the first ten or more companies you approach may not approve of your idea. This can be very frustrating, but never get discouraged or give up. Many successful entrepreneurs did not succeed with their first trial but eventually, they did, and you can too.

7. Be Persistent

Keep researching about your product idea, new companies to approach, how to get the right attorney or how to market your new product. Search for every detail that you feel might be important not only to license your idea but also on how to make it a successful deal. Blake Myers says that you can keep reaching out to the companies you have already approached because someone might appreciate your consistency and determination.

8. Be Prepared to Receive That Positive Response

After the struggle and consistency searching for a company to patent your idea with, eventually, if you do not give up, that call or email will come through. You must be prepared on what to present to them because a lot of negations will be involved. Do not allow yourself to be caught off-guard. Be ready with all the information that can get you a good deal if not the best deal.


William Bronchick Touches On Successful Business Marketing

William Bronchick moved to Denver, Colorado shortly after graduating Culinary School in Texas. His dream was to become a popular chef. After a short struggle and moving from line chef to sous chef, Bronchick saw an opportunity to further grow his career and took it. Friends doubted that his new business could make it, but after a year, he was able to quit his job at the restaurant and become a full-time private chef.

“What one needs to understand is that marketing is key to every company’s success,” says Bronchick. William Bronchick believes that no matter what your business is, having a marketing plan in place will help make your mark in your chosen field.

Working in the private sector has allowed Bronchick to continue his passion of cooking for others as well as traveling. He has studied under some of the greatest chefs in the culinary field ranging from French to Italian and even Asian cuisines. William Bronchick is inspired by his roots as well as his travels abroad. The events he has catered showcase his Texas roots with a European flair never quite seen before.

As an alum of the Culinary Institute of America (CIA), Bronchick understands that hard work and determination is the key to all success, as well as executing a well thought-out marketing plan.

 

 

 

 


Customer satisfaction

Dealing With Customer Churn

What Customer Churn is, How to Deal with It, and Why it Matters

It is always a concern when a company’s subscribers or customers stop doing business with them. Some refer to this as customer attrition but most often it is known as customer churn. The ability for a company to measure this is essential. History has shown it is more cost-effective for a company to retain its existing customers than to pay to acquire new ones.

Customer Retention Rate

Knowing customer churn rate will show a company their rate of customer retention. It will also help determine which strategies would be necessary for improvement. Companies utilize various methods to calculate this rate. Some look at the percentage of customers they have lost. Others want to know the percentage of customers they have lost compared to the company’s total number of customers. There are some companies that calculate this rate based on specific periods of time. This could be quarterly, annually and more. One of the most popular methods involves dividing the total number of a company’s customers at the beginning of a determined time period by the number of lost customers during this same period of time.

Reasons

Companies want to identify any issues that may be the reason for them losing customers. There are a few things that are considered common causes. One is providing ineffective customer service. A study showed approximately 90 percent of customers left a company as a result of their poor customer service experience. The business world is a competitive place and customers now demand the best possible customer service. When they don’t get it, they go to a business that provides it. There is also a good chance that customers who are not satisfied will share their bad experiences on social media and more.

Lifetime Value

There is a direct connection between the success of a growing business and customer lifetime value. A company’s chances of expanding its customer base will significantly diminish if their churn is too high. A marketing campaign well received in a company’s industry will not be effective if customers are being lost at a high rate. More than one study has shown that customer retention costs are far less than the costs associated with customer acquisition.

Eliminating Customer Churn

It results in a negative impact on a company’s income when this rate is too high. There are strategies a company can utilize to eliminate it. Customer loyalty is something that can be built from personalized service as well as positive experiences. Companies need to take a proactive approach to eliminate their own rate of churn. It is also effective when a business asks its customers who have left to complete a survey. The goal with this will be to discover the reasons these customers left the company.

Educating Customers

Many companies have been able to decrease their churn by regularly reminding customers what the company’s goods or services can do for them. They make an effort to keep their customers informed on any improvements and innovations. This has been shown to build customer loyalty.

Knowing Customers

One of the most essential elements for decreasing and eliminating customer churn rate is a business knowing their customers. With the proper use of Big Data, it is possible to obtain valuable insights into what a company is doing that keeps and drives away its customers. Big Data can make it possible for a business to anticipate the issues and needs of its customers. This will make it possible for a company to work toward retaining their business by meeting the expectations of their customers. This will involve identifying which customers are at the biggest risk for churning. This will give the company information necessary to improve the satisfaction of their customers at risk for leaving.

UserIQ

This is able to provide a platform designed to collect data for a company. It enables them to scale onboarding, accelerate time-to-value. UserIQ is able to provide its users with an increase in their revenue by providing information that will make it possible to provide the most effective customer service experience. It will forever improve the way a company interacts with its customers.

It is very important for a company to make an effort to decrease its churn rate as much as possible. Even a business with the most popular products or services will have a team of employees focused on decreasing its churn rate. This is often done in many different ways. It could involve a company improving its products or services. A company could work hard looking for things specific to its individual operation to deal with its particular churn rate and more.


Everything You Need To Know Before Starting Your Property Management Business

Starting your own property management company can be tuff but the rewards are astronomical. Typically, property management companies vary in size, from gigantic firms that manage thousands of properties like apartments and commercial plazas to smaller firms that represent a handful of residential rental properties. The underlying goal, regardless of your size, is to increase your profit. There are many ways to approach this problem, for the young and aspiring entrepreneur, listed are six ways to tackle this issue, even if you’re just starting out.

Owners Associations

Brian Setencich possesses a great deal of knowledge when it comes to working in both private government sectors. Working as the General Manager for First Service Residential has granted him some significant insight into how a profitable property management company operates. For starters, get familiar with owners associations. Both commercial and residential property management firms will typically create owners associations and hire them to manage their physical properties, including dealing with the headaches of filing government paperwork.

Use Modern Technology To Manage Your Properties

Using computer software or cell phone applications to keep track of how your properties are being managed is a must. Having the ability to receive automatic updates when rent is paid while being able to review and approve maintenance request on the go saves you time and money. Otherwise, if you choose to retain a third party, like an already existing property management company, prepare to pay a hefty fee. According to a recent article in Forbes, managing your own properties through a property management app may be cheaper but hiring a firm can help prevent legal issues which are likely to arise with a property owner beings to operate who is unfamiliar with the laws in their state.

How To Get Clients

Offering property management services to other larger firms is a great way for a property management company to make money on the side in lieu of simply possessing and renting real estate. To find clients, consult with local realtors and join the chamber of commerce in your area. Both of these strategies are a sure fire way to start procuring clients rather quickly with little to no overhead besides that of your own time.

Have A Portfolio

As with any business, having a portfolio is essential in the success or failure of your company. Think about it, when you look for a product online you want to see reviews; a portfolio if you will of the efficacy of the product. Those products with an overall negative review have a sullied track record and therefore probably aren’t a wise investment. It’s the same in property management. Having a company already established that has a track record of managing a few properties under its belt is ideal but not necessary. Another way to establish a portfolio would be to work for a larger firm like Brian Setenich and First Service Residential. Lastly, consider purchasing real estate and managing it under your company’s name, establishing a portfolio for yourself while simultaneously growing your company’s wealth.

Buy Ugly Homes

If you have the extra funds, look into buying ugly homes and remolding them. Construction contractors are usually pretty cheap and homes can be repaired relatively shortly if the damage isn’t severe. The main thing to avoid here is a property that has foundation problems; these can be the most costly and will hinder your company’s growth when just starting out.

Go To Tax Auctions

Those who haven’t paid property taxes on their homes eventually have them repossessed. In these cases, property buyers may attend regularly held IRS property auctions and procure exceptional real estate for a very reasonable cost; the unpaid taxes owed.

Brian Setencich graduated summa cum laude from California state university with a Bachelor of Arts in Business Administration. He has served as a City Councilman in Fresno, California; representing his district in the California State Assembly. His government experience was primarily gained while working as the Operations Manager for a 911 Emergency Response Project in San Francisco.


The Value of Diverse Experience Among Executives

Having a highly diverse and expressive Executive Suite can make a tremendous difference in how your company is perceived and how your staff feels approaching their superiors.

Creating a culture that embraces the importance of inclusion and diversity is both an ethical and moral business imperative. If executives in business are diverse, it creates a stronger position for the company to innovate and grow. Top industry talent will be attracted to a diverse company to help it to connect with its customers.

Business leaders need to act and embrace practices of inclusion and diversity in their leadership teams and organizations. Business leaders know that they cannot tell a brand narrative to customers if the narrative has very few points of view. Inclusion and diversity in leadership mean more than numbers, departments or an objective; these efforts have to be embedded in the organization’s DNA. Once this is done, it makes the brand narrative more meaningful, distinctive, and authentic.

In a study that was done by McKinsey, it was indicated that the top quartile for ethnic and racial diversity are 35% more likely to earn higher than the medians of their national industry. In another study, it was indicated that many diverse companies had 2 times more cash flow per an employee over a 3-year period than companies that were not diverse.

If companies do not structure a diverse culture, they will have it rough speaking to their customers genuinely. Having a top management that is diverse in a company is inspirational. To this end, we are going to look at the best practices that business leaders need to strive for in every company.

Being unapologetic and real

An unconscious bias is present in the corridors of business. Instead of hiding it, it is important to note that the differences we have dictate how we view the world. The first step to working to reduce the unconscious bias in the workplace is to recognize its reality. Diversity in the executives of a business helps underrepresented employees have a voice.

Establish credibility that is unimpeachable

You have to walk your talk. As a business leader, you have to take part in creating a more inclusive and diverse team. HP is a company with a diverse board of directors. The tech company has a board of 13 members with five of them being women, and several of the board members coming from South Asia. Denis Mackenzie also has a diverse team who help him to run his winery; this is one of the pillars that have helped him run a successful business

Empower champions of vocal diversity

When you have a diverse leadership team, it allows your company to give the active and passionate employees a platform to bring diversity into the entire organization from the bottom going up. A diverse leadership team will also equip its vocal employees with the opportunity to have sensitive conversations in a safe environment.

A diverse culture will also reward and celebrate its members, give its employees great benefits, programs to improve work-life balance, a workspace that is open and collaborative, and groups of employee resources to share similar values, goals, and differences. The leadership team will also help drive the onset of new businesses and attract great talent and partnerships.

Lead boldly

Diverse leaders help to change how the usual business environment operates. For example, diverse leaders in a company can challenge their partners to submit plans on how they can increase the number of minorities and women in strategic and creative roles in a business.

HP was able to donate $100,000 as an initiative that was aimed at increasing female directors in advertising, with the goal that one out of three competitive bids will be for a female director. When a leadership team embraces the diversity of experiences, perspective, and ideas, it has the potential of unlocking growth, and innovation. Leaders in business have to reinvent the inclusion and diversity standard even further to make a difference in companies, in the community, and in the marketplace.

Building diversity in the boards of a company

It is not easy to build diverse boards, but it is essential. Diversity is the foundation of perspective, insight, and thinking about markets, business practices, and consumers. If there is a lack of diversity, then there is a missed opportunity.

Blind spots are easily found in culturally homogenous boards, and this makes them miss essential aspects about internal problems and market trends. That is why a diverse board that is highly accomplished is important today when businesses are competing globally.

Diversity in a board helps a business have multiple views on the result of an action, which means that the board is likely to be aware of different risks on the table when the company is pursuing different agendas. When recruiting a board of directors, each company should at least have a nominating committee that:

  • Ensures that diversity is a requirement
  • Be more inclusive of minority groups and women that have valuable skills, expertise, and perspective.
  • Set insights and competencies that are being sought after by the board.
  • Looks for gaps present in the current board and ensure that different perspectives are represented.

Conclusion

Denis Mackenzie has been able to foster a broad company culture that encourages openness, independent opinions, and honest feedback from his team. Denis Mackenzie also strives to have diversity in his staff, which other companies should also look forward to having, to push the culture of a company’s leadership further.