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5 Leadership Tips to Empower Entrepreneurs

Women-owned businesses are on the rise.

According to the U.S. Census Bureau’s Annual Survey of Entrepreneurs, women own approximately 20 percent of employer businesses.1 That figure increased by 2.8 percent from 2015 to 2016. And that’s not to mention the many women-owned businesses without employees.

As the overall number of businesses increases, resources for building and running a business become even more crucial. We’re offering a few recommendations for all small business owners to be their most powerful.

  1. Embrace transparency – Without open communication between leaders and their employees, there’s more confusion and less productivity. Business owners can increase efficiency by engaging employees in honest conversations around expectations and performance.
  2. Take responsibilityEarning respect is critical for any type of leader. Taking ownership for your strategy and business decisions can help build trust, even when that means acknowledging mistakes.
  3. Make informed decisions – We suggest taking the road less traveled once in a while. Business owners who make calculated decisions backed by the proper research and planning can help their businesses stand out from the competition.
  4. Use technologyThe speed of business today relies more heavily on technology than ever before. Leaders who leverage the latest tools and equipment are at a distinct advantage. While purchasing equipment or technology outright can seem financially impossible, equipment financing programs can help relieve the burden of an upfront cash payment.
  5. Stay positive – By embracing positivity and sharing an optimistic business outlook, small business owners can inspire and encourage employees. When roadblocks threaten to stall progress, an open and positive attitude will help find solutions.

Take these steps today, and the possibilities for your small business are limitless.

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