The best commencement speeches are often motivational and thought-provoking, leaving new graduates optimistic as they head into the “real world.”

But for the Class of 2024 at the University of Massachusetts Dartmouth, new grads walked away with more than just a wealth of knowledge — they left their ceremony with an extra $1,000 in their pockets.

Related: ‘There Is More To Life Than Work’: Bill Gates Delivers Emotional Message To Graduates About Learning To Take A Break

Last week, the founder and CEO of Granite Telecommunications, Robert Hale Jr., spoke to grads at the University of Massachusetts Dartmouth about their futures and shared a story about a time when his business suffered a $1 billion loss in just one day to explain the importance of perseverance through failure.

“It’s okay to fail,” Hale told graduates. “Life will give you challenges and if you take those challenges you’ll fail from time to time — don’t worry about it … don’t fear failure, understand that it’s just part of the process, and if you use that fear of failure to motivate yourself, you’ll be better for it.”

Then, as he wrapped up, he shocked the audience by announcing he was giving each graduate graduate $1,000 — but there was a catch.

“These trying times have heightened the need for sharing, caring, and giving,” Hale told students. “Our community needs you and your generosity more than ever.”

The students were given two envelopes with $500 each — one was intended for the students to keep for themselves while the other was for them to give to someone else in need.

Related: Sheryl Sandberg’s Advice to Grads: Banish Self-Doubt, Dream Bigger and Lean In, Always

“As the degree conferral was about to begin, Hale came forward and let the graduates know he had one more bit of advice for them. He told the eager crowd that for him and his wife Karen, ‘the greatest joys we’ve had in our life have been the gift of giving,'” UMass Dartmouth said in a release. “Hale let the Class of 2024 know that the two large duffle bags being brought up on stage by security were packed with envelopes full of cash.”

There were roughly 1,200 students in UMass Dartmouth’s 2024 graduating class.

Hale’s current net worth is an estimated $5.4 billion.

Many entrepreneurs value being able to choose where and when they work. However, you must maintain maximum connectivity to optimize your remote workflow, and the 8-in-1 Tablet Docking Stand was designed to do exactly that. It’s on sale for just $54.99, which is lower than Amazon pricing.

This docking stand is compatible with laptops and tablets and has all the ports you need. With 5Gbps data transfer speeds, working remotely won’t slow you down. Plus, high-powered devices up to 100W can be fast-charged with a Power Delivery port. A regular SD and microSD slot also make storing and accessing your media on memory cards easy.

The stand has three USB 3.0 ports, so you can connect a variety of peripherals, including a mouse, keyboard, external hard drives, and more. You’ll also be able to expand your visuals by connecting to the stand’s HDMI port. There’s even a 3.5mm audio jack, so you can listen to your favorite music, podcasts, and audiobooks with wired speakers or headphones.

This docking stand also makes working with tablets and extra monitors much more comfortable. Its height can be adjusted to help you maintain a healthy posture, up to 70°. The tablet holder is also adjustable and can be tilted up to 180°. This can all benefit your daily ergonomics, which can help you be more productive (according to Forbes).

The docking station easily folds up for packing or storage. It has a tiny footprint and weighs less than a pound, yet its aluminum alloy construction is sturdy and durable. There are non-slip silicone strips on the bottom of the stand to hold it steady and keep it from sliding around.

Get the 8-in-1 Tablet Docking Stand today while it’s available at a price lower than you’ll find on Amazon, just $54.99 (reg. $69).

StackSocial prices subject to change.

No matter how gifted or driven you are, starting a business is hard, taxing work. In 2021, I left my 21-year career in finance and became a success coach, leadership consultant and author. I’d heard the statistic that 90% of all small businesses fail, but I thought starting my business would somehow be miraculously easy — it wasn’t. Here are four things I’ve since learned.

1. Self-discipline is harder than you think

Owning a business means you’re the boss. There are no assignments to turn in and no deadlines to meet. No one writes a performance review for you. However, this can be very difficult for some — and I had to learn this unexpected lesson the hard way.

I’ve always been highly organized and structured. For the last decade of my professional career, everything I did was scheduled and calendared in advance. Things were different when I struck out on my own. Conference calls and meetings weren’t on a recurring cadence, and that caused big gaps in my calendar. At first, it was hard to get in a rhythm. I began noticing I wasn’t leveraging my time well. I was sleeping in. If I said I’d check email for 10 minutes, it often turned into an hour. I realized I was allowing myself to become distracted throughout the day because my day wasn’t full of all the same hard stops that had previously existed.

I begin setting a schedule for myself. The only way I was able to write two books in my first two years was by scheduling time to write. At the start of each week, I write down the week’s most important priorities and set goals for myself. I list what actions I’ll need to take to achieve those goals. I schedule them on my calendar. Then, I stick to it. This takes willpower, but if you don’t do it, you’ll find yourself wasting time.

What gets measured gets done, so I also set goals and KPIs for myself. It’s easy to lose motivation when you’re not graded against a scoreboard — so I created my own. I set goals for how many hours, pages or words I’d write each week. I set goals for how many people I’d respond to and how many prospective calls I’d make. When my books hit the market, I tracked sales, revenue and income. On social media platforms, I set some KPIs for my engagement rates. Figuring out what metrics you’re going to watch is critical for success.

Related: 10 Things I’ve Learned In 10 Years of Running My Own Business

2. Pick the right clients and partners

Not everyone is going to be a fit for your services and products, and you’re not going to be a fit for everyone else’s needs, either. One mistake I made in my first year was taking on anyone who would have me as a client or a partner. I’ve since parted ways with my business coach, two vendors and two clients. People who suck your energy or drain your time with nonsense shouldn’t be on your calendar.

In the case of my “fired” clients, they resisted all my suggestions and were hesitant to take my advice. I eventually realized neither of us was getting much from the relationship. It feels good to hold space on my calendar for only those who are aligned in their thinking and want to achieve great things. Initially, because I was just starting out, I was afraid to let go of the income. If someone was willing to pay me, I was willing to take their money. That isn’t the case anymore. Great businesses only work with great clients.

When it comes to vendors, I now shop around. Early on, I hired the first coach, web designer and publishing team I found. Some of those decisions were mistakes. I’ve since decided to broaden my search process when hunting for the right vendor. I do my homework and ask for referrals. In other cases, I like to see examples of prior work. When vendors can’t produce that (or seem annoyed that I’m even asking), I know I’m not dealing with the right partner.

3. It can get lonely sometimes; find ways to add human interaction into your day

Before going solo, I was always part of a team. During most of my career, I interacted with a few hundred people at work. That all changed when I became a private coach and consultant — suddenly, it was just me. When you’re an employee, you’re often constantly involved in conversations with others. When I went independent, there were several hours a day I wasn’t. Right away, I felt a twinge of loneliness. I didn’t have an endless reserve of people with whom I could share ideas.

I now make a point to schedule lunch with clients, prospective clients or colleagues a couple of times a week. I also have found great joy in sharing what I call “Transformation Tuesday” videos with my network and regularly engaging on a few social media platforms with like-minded people. When I’m sharing videos and articles on leadership or mindset, it puts me into conversations with others about things that are important to me. That helps me overcome these solitary feelings. If your job is primarily done solo and you’re feeling a bit lonely, find ways to connect with others regularly.

Related: I Started My Business In My Mom’s Basement at the Age of 17. Here are 5 Rules I Wish I Had Known, But Had to Learn the Hard Way

4. Building a network of your peers is imperative

Initially, I was hesitant to meet other authors and coaches. To some degree, I saw them as competition. I’ve since had a complete change of heart. Last year, I was introduced to another coach who does exactly what I do. When we met, we’d both published our first books. Since then, we’ve written the forewords for each other’s second books! It’s been an honor and a joy to support each other like that. For my third book, I want to work with a publisher. I recently joined a group of authors, agents and publishers and went to one of their events. I couldn’t believe the camaraderie and value I found there. I met other authors who are facing (but overcoming) the same challenges I face. I also met a plethora of agents and publishers who might help me. There’s power in numbers. We are stronger together. Networking with others who are doing exactly what you’re doing (and doing it well) can only help you, not hinder you.

I wish I’d known these four things on my first day as an entrepreneur, but I’m also grateful I know them now. Implementing them will only make you and your business stronger; I guarantee it.

Two years ago, while putting together a strategic plan for the launch of my venture studio, Evernomic, I began searching for ways to differentiate and build a competitive edge. This formed the strategies we rely on today, setting our operations apart from similar firms.

One thing in particular that we stuck to was initially focusing on media-based startups. To put it simply, I identified what I suspected we would be competing on in the future — skills, experience, network, capital and so on. The fact is, most of the above are prerequisites that every firm must possess. However, if we had a strong portfolio of audience-based offerings, we could leverage that in numerous ways to propel us forward.

Effortless networking

In the media industry, almost every demographic can benefit from your work in some way, from businesses seeking promotions to consumers seeking information. This sets a unique stage for networking. The broad appeal and reach of media can open doors to valuable circles and opportunities that might otherwise remain inaccessible.

For instance, with a local digital newspaper, we manage in the Netherlands, we pursue strategic partnerships with other local organizations and associations by offering them free coverage of their initiatives. Naturally, we must maintain the quality of our content, so we are rather selective with the organizations we approach. Nonetheless, this local network has strengthened our community ties and connected us with invaluable contacts for our international projects.

Related: 8 Reasons to Make Networking Part of Your Everyday Life

Promoting your own initiatives

Media platforms offer an exceptional channel for marketing projects and initiatives directly to your audience. This direct line of communication allows you to shape the narrative and control the messaging around your products or services, ensuring that your promotional efforts align perfectly with your brand’s voice and goals.

You should never exploit your audience’s trust and spam promotional materials. However, you understand the preferences of an audience you manage better than anyone, enabling you to engage effectively with such campaigns.

By consistently communicating with your audience through these platforms, you can build a loyal customer base more receptive to your new and existing offerings. This strategy enhances brand visibility and drives engagement and sales more effectively than traditional advertising channels.

Recycling your audience

One of the most strategic moves in media is the ability to recycle an existing audience to benefit other projects or brands within your portfolio. A prime example of this is our approach with one of our prominent media brands with a highly engaged audience. Instead of continuously promoting our other ventures to the same audience, we arranged cross-promotions with other creators and media brands. However, rather than promoting our media brand reciprocally, they would encourage a different venture of ours. This tactic allows us to introduce our projects to several audiences by utilizing a single audience without additional acquisition costs.

Related: If You Want Funding, These Are the Financial Reports VCs Need to See

Access to market insights

Operating a media entity provides more than just an outlet for content; it offers invaluable market insights derived from audience data and content interactions. This continuous data stream includes consumer preferences, behavioral trends and engagement metrics, which are critical for tailoring content and marketing strategies.

Such insights also enable media companies to anticipate market trends, adapt to consumer needs more swiftly, and make informed decisions that align with current and future market dynamics. The ability to analyze these insights gives media investors a significant advantage in staying ahead of the curve.

Influence in strategic partnerships

The influence gathered through successful media projects is valuable in forming strategic partnerships and negotiating deals. Media companies can leverage their reach and visibility to attract and secure beneficial partnerships with other brands, sponsors and influencers. This influence acts as a currency that provides media owners with the leverage needed to negotiate favorable terms and collaborate on projects that can amplify mutual success.

Whether on a local scale or an international one, when we seek partnerships with new startups, the most common obstacles they face are exposure and ineffective marketing. Our media portfolio has been an invaluable asset in solving such obstacles with minimal inconveniences on our end.

Related: What’s Up With the Global Media Industry?

High-profit margins

Media projects offer attractive profit margins, particularly once an established audience is in place. Media companies can significantly increase profitability with various revenue streams such as advertising, subscriptions and sponsored content.

After the initial phases of setup and audience building, the costs of content production often decrease, while revenue potential scales with audience size and engagement. This scalability and the ability to leverage content across multiple platforms enhance the profit margins, making media investments particularly lucrative.

I urge you to look around the global business landscape, the most innovative organizations have been building or acquiring media assets rapidly for some time now. Especially given the more efficient pathways to creating content, setting up media subsidiaries should be a strategy all businesses should consider undertaking.

If buying an existing business doesn’t sound right for you, but starting from scratch sounds a bit intimidating, you could be suited for franchise ownership. What is a franchise–and how do you know if you’re right for one? Essentially, a franchisee pays an initial fee and ongoing royalties to a franchisor. In return, the franchisee gains the use of a trademark, ongoing support from the franchisor, and the right to use the franchisor’s system of doing business and sell its products or services.

In addition to a well-known brand name, buying a franchise offers many other advantages that aren’t available to the entrepreneur starting a business from scratch. Perhaps the most significant is that you get a proven system of operation and training in how to use it. New franchisees can avoid a lot of the mistakes start-up entrepreneurs typically make because the franchisor has already perfected daily operations through trial and error.

Related: Considering franchise ownership? Get started now and take this quiz to find your personalized list of franchises that match your lifestyle, interests and budget.

Reputable franchisors conduct market research before selling a new outlet, so you’ll feel greater confidence that there is a demand for the product or service. Failing to do adequate market research is one of the biggest mistakes independent entrepreneurs typically make; as a franchisee, it’s done for you. The franchisor also provides you a clear picture of the competition and how to differentiate yourself from them.

Finally, franchisees enjoy the benefit of strength in numbers. You’ll gain from economics of scale in buying materials, supplies and services, such as advertising, as well as in negotiating for locations and lease terms. By comparison, independent operators have to negotiate on their own, usually getting less favorable terms. Some suppliers won’t deal with new businesses or will reject your business because your account isn’t big enough.

Franchise or Business Opportunity?

Business opportunities are less structured than franchises, so the definition of what constitutes a business opportunity isn’t easy to pin down. In essence, a business opportunity is any package of goods or services that enables the purchaser to begin a business and in which the seller represents that it will provide a marketing or sales plan, that a market exists for the product or service, and that the venture will be profitable.

Here are other key factors:

• A business opportunity doesn’t generally feature the seller’s trademark; buyers operate under his or her own name.
• Business opportunities tend to be less expensive than franchises and generally don’t charge ongoing royalty fees.
• Business opportunities allow buyers to proceed with no restrictions as to geographic market and operations.
• Most business opportunity ventures have no continuing supportive relationship between the seller and the buyer; after the initial package is sold, buyers are on their own.

Find more information on the differences between franchises, business opportunities, MLM programs and licensing agreements in the following articles:

The Pros

The greatest strength of franchising is its ability to bring independent retailers together using a single trademark and business concept. The benefits of this affiliation are many: brand awareness, uniformity in meeting customer expectations, the power of pooled advertising and the efficiencies of group purchasing.

For the individual owner, there are several advantages to franchising. The ever-present risk of business failure is reduced when the business program has already proved to be successful in the marketplace; the use of an established trademark saves the business owner the cost of creating and advertising a name that customers will recognize; and the advantages of group advertising and purchasing make operations more profitable. In addition, ongoing training creates an instant operational expertise that would otherwise need to be acquired through trial and error. Also, with franchising, expansion seems to come more naturally. Operating a successful franchise may quickly lead to building a second and then a third business, and so on. Fortunes have been built this way.

The Benefits

• Reduction of risk
• Turnkey operation
• Standardized products and systems
• Standardized financial and accounting systems
• Collective buying power
• Supervision and consulting readily available
• National and local advertising programs
• Point-of-sale advertising
• Uniform packaging
• Ongoing research and development
• Financial assistance
• Site selection guidance
• Operations manual provided
• Sales and marketing assistance

The Cons

Franchising, however, is not for everyone. Fiercely independent entrepreneurial types (you know who you are) may chafe under the strict operational requirements and specifications of a franchised business. If things have to be done your way, you may want to head in another direction.

Also know that some franchise systems are better than others. A weak franchise program will not train you well to handle the challenges of the business, will not do a good job of assisting you when problems arise, and will not make the best use of your advertising dollars.

The Downside

• Loss of control
• A binding contract
• The franchisor’s problems are also your problems

If you’re considering buying a franchise, don’t let wild expectations influence your decision. While franchising is designed to put people into business who have never owned a business before, the excitement of ownership can create an impulse to move forward without proper planning. If you rush headlong into buying a franchise expecting to boost your current working salary, but the earnings don’t allow you to pull out more than half your former salary, you will be one unhappy camper. Work with a good CPA to prepare a cash-flow projection for the business before you take the plunge. Know how long it will take to break even and turn a profit, as well as the amount of salary you’ll realistically be able to pay yourself.

Associated Costs

In terms of capital investment, your franchise fee will be determined by the profitability of the business. Most companies have a scale when it comes to franchise fees. They can have varying ranges, anywhere from $2,000 to $100,000+, depending on the size of the system. In addition to this front-end franchise fee–the one-time charge that a franchisor assesses you for the privilege of using the business concept, attending their training program, and learning the entire business-there will also be an ongoing royalty fee, typically ranging from 2 to 10 percent, or a monthly figure.

Some of the other costs associated with a franchise include:

Facility/Location
In some cases, you may also have to buy land or a building, or you may have to rent a building. If you rent a building, you’ll be responsible for not only the monthly lease but for the one-time security deposit as well. In addition, you’ll have to pay for leasehold improvements. In some cases, the owner of the building will put these in and factor them into your rental, probably charging you a small additional fee. The franchisor might provide you with an allowance for leasehold improvements that runs in the neighborhood of $10,000 to $35,000 for your average franchise. Most franchisors will tell you what their estimated leasehold improvements will be.

Equipment
Different types of businesses will need various pieces of equipment. There are generally long-term payments available for most equipment purchases. Fortunately, most banks will provide loans for equipment because it also serves as collateral.

Signs
Outside signage can be very expensive for the small-business owner. Most franchisors have developed a sign package that the franchisee is obligated to purchase.

Opening Inventory
This will usually consist of at least a two-week supply, unless you’re in a business that requires a much more complicated inventory. Most franchisors will tell you what their opening inventory requirements are.

Working Capital
For rent, you may be required to deposit first and last months’ payments as well as a security fee. You’ll also have to pay a deposit to the electric, gas and telephone companies (who will want deposits prior to giving you service). You’ll need some working capital and money in the cash drawer to make change. You’ll need money to pay your employees. You’ll need money just to operate until there’s a cash flow. If you’re buying a franchise that relies on charge accounts, you’re going to have to allow yourself some additional capital before the bills are paid by the customers and returned to you.

Advertising Fees
There is usually a fee for advertising on a regional or national basis. Most larger franchisors require their franchisees to pay a certain amount into a national fund used to advance the concept. The upside is the benefits are quite substantial in terms of the visibility you get with the type of advertising that most franchisors do.

Franchise Law

An important protection for the person planning to buy a franchise is the FTC’s Franchise Rule, put into effect October 21, 1979. The rule requires covered franchisors to supply a full disclosure of the information a prospective franchisee needs in order to make a rational decision about whether or not to invest. This disclosure must take place at the first personal contact where the subject of buying a franchise is discussed and at least 10 business days prior to signing any contract with the franchisee or accepting any money. This is a “cooling-off’ period intended to prevent franchisees from jumping in without carefully reviewing and considering what they’re doing.

This means a franchisor, franchise broker or anyone else representing franchises for sale has to present a disclosure document-the Franchise Disclosure Document (FDD)-containing extensive information about the franchise. Furthermore, you must be provided with completed contracts covering all material points at least five days prior to the actual date of execution of the documents. Again, this provides another cooling-off period and the chance to have an attorney review the contracts prior to execution.

Visit the FTC’s Franchise and Business website to find out more about the Franchise Rule.

State Laws

The FTC doesn’t require franchisors or business opportunity sellers to register with it or any other government agency. However, several states do have registration rules requiring franchise sellers to register. Some of these states laws are tougher than others, but most have adopted the FDD guidelines for their disclosure requirements.

It would be a mistake, however, to assume that simply because a franchise is registered with a state or provides some type of full disclosure document, you as a consumer are going to be protected from the possibility of failure or rip-off. The only thing that a state reviewing agency can do is ensure that the franchisor has responded and filed the necessary documents.

Source: The Small Business Encyclopedia, Start Your Own Business, Entrepreneur magazine and Entrepreneur‘s StartUps magazine.

Continue on to the next section of our Franchise How-To >> Begin Your Search

Let’s face it: it can be discouraging to hear “no” throughout your career, especially when you want the chance to prove yourself. But that’s where resilience, hard work, grit and determination come in. When I applied for a role at a small marketing firm as a new college graduate, my eyes were set on the position of Marketing Coordinator. I was full of enthusiasm, ready to roll up my sleeves and dive into the hustle of a dynamic team when, instead of landing the marketing gig, I was hired as a front desk receptionist.

This role wasn’t exactly what I had in mind, and it felt like one of my first inevitable career “no’s” to be placed in a position I didn’t apply for, but I quickly shifted perspective because I had my foot in the door. Taking the receptionist job oriented me to my vision and sense of purpose — and truly showed me the importance of taking initiative, being a self-starter and letting my work speak for itself, all while navigating a firm’s complex dynamics from the ground up.

This early experience helped shape how I now guide CEOs back to their own personal mission and purpose when they face obstacles by staying adaptable, maintaining conviction and keeping an end goal in mind. Here are four lessons I’ve taken from turning a “no” into a “yes” along the way.

Related: What is Resilience and Why is it Vital to Your Success?

1. Think about the full journey

Navigating the corporate world requires a holistic approach — thinking about the full journey of different initiatives from inception to execution. But it also requires thinking of yourself holistically. You will not always be in your present role, but stay open to wearing many hats beyond your job description to contribute to the customer journey in different ways.

I started as a receptionist, but when the designer at that company quit, I seized the opportunity by offering to help design ads for an imminent client meeting. My graphic design minor in college and designing side hustle equipped me to handle it. Soon, I did everything: From answering phones, making coffee, and setting up conference rooms to pitching design ideas to CEOs of successful corporations and executing those designs. I was a receptionist fresh out of college creating million-dollar ads — all because I kept an open mind. Research and staying alert to new opportunities should always be folded into the larger journey.

Related: 5 Ways to Get Ahead of Your Competition by Making a Lasting Impression on Your Clients

2. Experiment and package your ideas well

Fast forward to today, and I am now the head of my own marketing team. The journey has moved on from navigating “no’s” to putting in the hard work and demonstrated performance to guarantee the “yes.” A byproduct of getting to this point includes experimenting — which is not just something to do when you have extra time or budget to burn. It is crucial to prove what ideas work best and stay ahead of the competition. Even if an experiment doesn’t go as planned, it can be used to adapt your approach.

For instance, despite extensive research and strategic planning behind your proposals, sometimes the initial packaging doesn’t reflect the depth of your work. A surface-level judgment can make or break an idea before proving its worth. This is where the “eye test” comes in, asking you to marry statistics with intuitions and observations. With the right delivery, you give your best strategies the platform they deserve and prove your expertise in doing so.

3. Listen, learn and adapt

If you do receive an initial “no,'” stay humble, but don’t let it defeat you. Even the most well-researched person in the room still has things they don’t know. Make it a habit to listen to the experts around you and absorb knowledge from those with more experience in certain areas than you. Collaborating with other teams takes you out of your department bubble and allows you to understand the bigger picture better.

Every interaction is an opportunity to learn and strengthen your case. When proposals are still in the theory stage, take your testing and your research and go out there to get small pieces of buy-in. By building relationships with those with different expertise, you are circulating your ideas and gaining crucial information about how to refine them. Then, by the time you get to pitch, you will already have people on your side.

4. Figure out how to get the “yes”

New initiatives won’t succeed unless they are aligned with a company’s overarching vision, so everyone can see how they contribute to achieving organizational goals. Often after a “no,” I’ll dig deeper. Instead of taking it as a sign of the team’s failure, I ask: “What do we need to do, show or prove to hear ‘yes’?” This is when knowing how to listen becomes so important.

Incorporating initial testing feedback into your proposals strengthens the argument for each idea and provides tangible proof of their efficacy through experiments and customer insights. This ensures that each proposal is well-supported and clearly tied to the company’s strategic direction.

Dive into the data and put yourself in the shoes of the relevant target market. Do whatever it takes to prove why you deserve a “yes” based on your research, knowledge and expertise. It’ll take a bit more footwork and perhaps even a reimagining of your approach, but if it helps you get past that “no,” it will solidify your credibility and experience track record.

Related: 4 Steps to Help You Turn a ‘No’ Into a ‘Yes’

Shift your mindset

In the unpredictable journey of building a career, facing rejection can feel like hitting a wall. But here’s the truth: those “no’s” aren’t roadblocks; they are detours pointing us toward new opportunities. So, don’t let something crush your spirit when it doesn’t go as planned. Embrace it. Learn from it. Those setbacks can be stepping stones to something better if you change your mindset. It’s about resilience — using those “no’s” as fuel to keep pushing forward, stronger and smarter.

It’s no secret that every successful company needs a solid, identifiable corporate culture. Statistics show that 88% of job seekers believe a healthy work culture is essential for success, and the younger generations now prioritize “culture fit” above all else when job hunting. Unsurprisingly, a strong corporate culture that keeps employees engaged directly translates to as much as a 202% performance increase.

With such compelling data, it’s shocking how often startups fail in this regard. As a successful CEO and cofounder, here are four common mistakes I’ve seen and how to avoid them in your startup journey.

Related: Lack of Trust — What Does It Do to Your Company?

1. Not knowing when to transition from the “tribe” stage and into more structured processes

My company, Flowwow, is currently in that awkward “preteen” phase where we’re no longer a startup “tribe” but not yet a large corporation. This creates tension because those who have been around since the beginning often romanticize “the good old days” and resist implementing more structured processes.

Because this is often a challenging phase for brands, many cling to the “startup family” model of everyone doing everything for too long. This can hurt morale, motivation and long-term growth and heighten the risk of a brand stalling out at a critical stage. We tried to avoid this mistake by ensuring our overall mission was tightly aligned with the values shared by every person we hire.

We ensure everyone feels supported and heard, confirming that everyone understands our flexible and adaptable processes. We also help place each person into a team that best suits their skills and personality so they feel useful, fulfilled and engaged. Remember that the data shows 85% of employees feel disengaged, yet 69% say all they need to feel happier and engaged is acknowledgment and recognition.

2. Not allowing your culture to evolve with the brand

Some camps believe brands should stay consistent over time, but we think that evolution according to the market and trends is far better for overall longevity.

Remember: as your brand grows and matures, so should your corporate culture. As a founder, it’s your job to shift internal and external perceptions about your brand during these transitional times. Your core values should remain the same, but how you act on them makes the difference.

For instance, when Flowwow shifted from a flower service to a gifting marketplace model, the founder’s job was to not only reframe public messaging but ensure we were highlighting the things most important to us as a brand: openness, transparency and quality.

By making this our focus, we didn’t need to do anything specific to steer our culture; it naturally evolved from authentically shared values. These principles have remained steady over time, but our “value-driven” actions are more tangible: We provide resources like language learning, mental health assistance and medical insurance to show the team that our values are more than words.

Related: How to Lead With Transparency In Times of Uncertainty

3. Neglecting to establish top-down communication

I’ve heard of many startups that have failed or floundered because the founding team felt they needed to hide hardships or only tell employees what they felt was “necessary.” Often, this is done with good intentions. They mistakenly think it will demotivate or alarm employees to hear about a crisis or difficult road ahead. Don’t fall into this trap! You hired these people because you trust and believe in them, so prove it by being transparent and allowing them to support you and each other.

When management offers open communication lines, employees feel empowered to take responsibility, bring fresh ideas and make decisions in the brand’s best interests. HBR notes that good communication from senior leadership is a top driver for employee engagement.

4. Forgetting that the founder is the heart and soul of the brand

Founders often fall into the trap of playing Superman (or woman): They feel like they need to be involved in everything all the time, usually at the expense of their well-being. Initially, this might be necessary, but a founder’s top goal should be to find and cultivate a core team that can be trusted to take over most of the daily tasks.

A strong, compelling corporate culture needs an axis on which to turn, and that axis should be the founder. Instill your values into every person you hire, and then let all the things that made you want to hire them shine through. Use your influence and passion to improve, amplify and direct the company. By acting as your team’s safe, trusted harbor, you allow your corporate culture to blossom organically, resonating with both employees and customers.

It’s vital to avoid letting yourself burn out. You are an example for everyone, so it’s your job to pay attention to your mental well-being and continually work on understanding and managing your emotional impulses. Acknowledge your limits, act within them and let your team see that you’re human. This sets the foundation for a healthy, honest atmosphere.

Related: How Being Transparent Helps Scale Your Company

The future of work is now, so don’t let your culture lag behind

Corporate culture is essential to present and future organizational health and longevity. Watch factors like absenteeism, participation and even body language to get a complete picture of whether your brand’s atmosphere needs work. Remember, a healthy organization balances stability and growth, and lasting improvements must always be top-down.

I’m in the public relations space, and as of last count, there are more than 48,000 other PR firms in the United States. A large fraction of these compete with my agency in the five hub cities where I operate. Yet mine consistently ranks among the highest in those cities — Nashville, for example.

Is it because I know my industry better than my competitors? Because I land more placements for my clients? Because my team is more talented or my network of connections more expansive? As much as I’d like to think that I’m running with the front of the pack based solely on the quality of my services and the effectiveness of my methodologies, it’s far more likely that I earn rave reviews and generate referrals from my clients due to two words: personalized attention.

More specifically, my team and I go well above and beyond to create an exceptional customer experience at my firm because I’ve learned over the years of running my own business that it’s the client’s impression of you that matters most — that’s what informs all other aspects of customer relations, drives all other client decisions and determines if they’ll stay with you or not (even more so than short-term results).

Even in the digital age we all inhabit, with so many automated tasks and productivity tools that populate our workplaces, personalizing the professional is a surefire means to client retention and satisfaction. Here are five practices I regularly follow to make the most positive impression on my clients I possibly can.

1. Get a copy of your client’s org chart

When you understand the structure of your client’s business, you understand who does what, who reports to whom, and, in turn, you know who to go to for what. Not only is this an immense time-saver — as in not filling people’s inboxes unnecessarily with work that doesn’t pertain to them — but your clients will also appreciate that you did your homework on their staffing.

It’s so much more impressive to send a note that says, “Would your team like to see this before we send it up to Jeremy?” or “I believe Bettina has the final sign-off here” than “Are you the right person to contact about this?” And note the use of actual names here — learning the first names of everyone you’ll be working with moves you into first place faster than you’d think!

Related: 4 Ways to Make the Best First Impression With Your Customers

2. Use proper grammar and punctuation

Make sure that all your communications to your client — and, far more importantly, all the communications you prepare on their behalf — are written properly. Yes, it takes some extra work to eliminate errors. Still, it’s absolutely worth the effort when you consider how much just one typo can mar an entire project (ever seen “pubic” instead of “public”?) and how poorly faulty grammar can reflect on quality output, education level and attracting the intended audience.

Though it may be true that language standards are slipping in America, that doesn’t mean nobody’s noticing the shoddy quality of copy. Some people still notice and care. If your client is one of them, you’ll earn bonus points by knowing the difference between “compliment” and “complement” by not allowing both “San Antonio Riverwalk” and “San Antonio River Walk” in the same publication. Use your grammar checker. Always do a spell-check. Re-read everything you produce. And if you don’t have a language maven on staff to serve as your in-house proofreader, hire an affordable freelancer who can provide quick turnaround times.

3. Choose video over audio

Whenever possible, schedule video calls and videoconference meetings over phone calls and phone meetings. The day and age of in-person meetings is quickly becoming obsolete. Still, there will never be a replacement for face-to-face interaction, eye contact, observing facial expressions and showing your client with every head nod and eyebrow raise that you’re following what they’re saying and closely attending to your conversation.

During the pandemic, cultivating one-on-one relationships over Zoom and Teams became the new norm, and most people are entirely fine leaving it that way! Interacting over a screen instead of a conference table is just more convenient, time-effective and environmentally friendly. Nevertheless, we can’t afford to lose the “one-on-one interaction” part of business relationships. Remember the old Bell advertising slogan? Well, video is the modern-day equivalent of “the next best thing to being there,” so leverage your camera as often as possible to “see” your clients, not just talk to them.

4. Mark your calendar!

Notate birthdays, business anniversaries, baby due dates. Keep a record of your client’s big meetings and conference attendance. On those days, send a person-to-person text or email. And the more specific, the better, such as “Hope your coffee product presentation in Jersey went well and the traffic wasn’t too bad on the Parkway!” Or “Congrats on baby Elliot. That was my grandfather’s name, and I hope it serves your brand-new son as well as it did him.”

By incorporating the personal into the professional, which is a pillar of my own approach at my company, clients value your role more because you’ve actively endeavored to become part of their lives, not just an appendage of their business. In other words, when you add personal touches to your communications and conversations, your clients can’t help but think of you on a more human level rather than just a professional contact with whom they can easily cut ties.

Related: 6 Strategies for Making a Good First Impression During Business Meetings

5. Observe the line between personal and professional, but use both — often

On a related but separate note: As much as I’m saying to weave personal connections into your daily dealings with your clients, you never, ever want to go too far. You can use humor, but not off-color humor. You can show vulnerability, but you don’t want to appear weak or indecisive. You can ask questions and admit what you don’t know, but be strategic (not lazy) about trying to resolve issues yourself before coming to your clients with them. And be yourself, absolutely always be genuinely yourself, but don’t expose so much that you cross the line into overintimacy or inappropriate divulgence.

By speckling your client interactions with individual touches as you simultaneously maintain proper decorum, you will put a personal face on your business name. And that name will leave more of a mark on your customers precisely because of your adept balancing act between the personal and the professional.

Part of making a meaningful impression on your clients is consciously putting your best face forward every day, in every way. Don’t let them see a messy office behind you on Zoom, but let them vent about their kid’s tonsillitis for 10 minutes if needed. Don’t bad-mouth other clients or finger-point when things go wrong, but get to know them well enough that you’d love to grab a drink next time you’re in town.

Take every opportunity you can to show your clients — and then remind them often — that “business as usual” to you means being prepared (as in learning an org chart), producing quality output (that’s been proofed), scheduling face-to-face encounters, observing special occasions in their lives and sharing your authentic self, who happens to be a multifaceted, wonderful human being with flaws who’s also an utter professional and a real pro at what you do!

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Navigating today’s labor market is a high-stakes game for small businesses as they compete to attract top talent. The U.S. Chamber reports that while there are 9.5 million job openings in the U.S. this year, there are only 6.5 million workers to fill them. With small businesses employing over one-third of all U.S. workers, a labor shortage can amplify the pressure to find and retain employees. But as small businesses look at their workforce, it’s not just about filling roles; it’s about meeting the needs of both new and current employees to build an enduring team committed to helping the business grow.

Here are a few strategies for small businesses to consider as they build and strengthen their teams.

Related: 4 Ways the Labor Market Is Changing Right Now

Create a hiring plan that looks a year ahead

For small businesses where time and resources are often limited, it’s crucial to be a few steps ahead when hiring new talent. Waiting until there’s an immediate hiring need can lead to a scramble and ultimately constrain revenue growth. To avoid this, map out your anticipated hiring needs for the next year.

When building a hiring plan, make sure to account for seasonality or peak periods of your business experiences, any expected attrition, anticipated growth in your business and desired efficiencies you’re hoping to achieve. This will help ensure you’ve created a resourcing plan that will better support you in effectively running and growing your business, and can give you a runway of two to three months lead time to have additional hires in place when they’re needed most.

Go beyond hard skills when hiring

In the hunt for the perfect candidate, getting caught up in the checklist of hard skills can be easy, but looking for an exact match of qualifications on paper can limit the talent pool. Soft skills like teamwork, active listening and reliability are often the components of what turn employees into partners in your business’s success. They not only determine if your team can thrive, but will also be reflected in how your customers experience your company. During the interview process, use behavioral questions to understand how candidates think and work through complex situations. You’ll find that those skills and experience will translate well to helping you with complexities your business may face.

Approach onboarding like your future depends on it

Onboarding is your chance to establish strong expectations for how you want employees to contribute to and represent your business going forward. Make it count. Set the bar high. These newest employees are your change agents in helping you achieve your dreams for your company. It should also provide a comprehensive roadmap that delivers both company and personal expectations to set everyone up for success. Providing clarity on what’s required of employees and expectations for how they deliver for your team will help your employees understand what you care about, how much you care about them and encourage them to reciprocate with the extra effort you and your business deserve.

Evolve from a paycheck to total rewards

For many employees, money isn’t the sole driver when choosing an employer. While salary increases and other monetary benefits go a long way, these aspects of compensation aren’t the be-all and end-all of employee satisfaction. Gerald Hamel, a QuickBooks customer and treasurer of Make a Chess Move, recognized the importance of this amid the “Great Resignation” and decided to start offering employees more than a paycheck and provide them with a package of benefits that really fit their needs. After all, workers who receive some benefits aren’t likely to leave their current employer for another (only 18% plan to do so). Consider offering other benefits such as comprehensive medical insurance plans, PTO and retirement accounts to attract new employees and increase retention.

Perks that span beyond traditional benefits can also serve as a strong incentive for employee retention. For example, 48% of employees say that flexible work hours are one of the top three aspects they value the most. Consider offering a work structure that can support employees’ work-life balance through hybrid or remote work. These are often important among employees and can help small businesses stand out in today’s competitive workforce environment.

Related: 2024 Could Be the Year that Makes or Breaks a Lot of Small Businesses, According to a New Report

Quantify the pulse of your employees

As a business grows its workforce, performance data becomes crucial to understanding how the team is performing, how engaged team members are and opportunities for improvement. Go beyond asking employees for their feedback. Conducting a formal, anonymous survey will help you quantify and track progress against established employee priorities including their desire to stay, their commitment to being customer-focused every day and their assessment of company operations or career development resources.

Tracking these dimensions over time will help you assess if your efforts to support and grow your employees are paying off. Set joint goals for these scores with your employees and ask them to be involved with developing and implementing improvements that can drive scores up. You’ll find employee commitment is likely to go up when they have an opportunity to inform action plans, realize the benefits and collectively celebrate score improvement.

What makes small businesses stand out in their communities isn’t only their product or service, but the people behind the business. In today’s job market, it takes more than a classified ad to find the right people to help run a business. By embracing thoughtful hiring tactics, nurturing a culture of growth and valuing employee feedback, small businesses can hire and retain employees who are just as invested in the business’s success.