برچسب: Steps

  • The 3 Non-Negotiable Steps in Hiring Regardless of Your Industry

    The 3 Non-Negotiable Steps in Hiring Regardless of Your Industry


    Opinions expressed by Entrepreneur contributors are their own.

    Different companies have different hiring practices. You can have multiple stages with different-level individuals, or just one comprehensive test and final interview — it just really depends on the organization, priorities, urgency and the kind of role.

    You might be able to streamline and customize things as much as you want, but after hiring hundreds of people, I’ve realized that there are three hiring non-negotiables regardless of your approach, industry and the position you’re offering.

    1. Hire problem solvers, not know-it-alls

    As much as it’s ideal, you are not building a team of perfect employees. You are building a team that can work effectively and adapt when needed. No one can truly know everything — not even AI, at this point anyway.

    What you need then are people who have enough critical thinking to get the job done and navigate any problems along the way. It’s important to have people who are willing to learn and decide for themselves. At the same time, have team members who acknowledge their limits and know when to ask for help.

    When someone doesn’t have a big ego, they’re more willing to try a different approach, even if it means getting out of their comfort zone. They’re also more inclined to admit when they’re wrong.

    One can have as much knowledge about the job, but problems are still bound to happen. You need employees who have the initiative to think about and find solutions on their own or with their team. Not those who claim to know everything.

    Related: There’s a Growing Demand For This New Type of Professional — Here’s Why Your Startup Needs Them, Too.

    2. Hire team players who can also work on their own

    You’re not just after people who can do their job right. You’re getting people who can work well with the rest of your team. This means looking for people who can handle projects with both autonomy and a strong sense of collaboration.

    There will be times when they’ll need to split their work together with their coworkers, so it’s important that they know how to share that sense of responsibility. Hiring someone with this skill assures you that they know how and when to share the credit and give credit when it’s due.

    When you have someone who cares about their own work and their team’s work as a whole, without stepping on anyone’s toes, the workflow stays steady and disruptions are minimized, whether the task calls for solo effort or group collaboration. They’re also all willing to chip in, as well as brainstorm and combine ideas.

    3. Hire people for their growth mindset, not their current skill set

    Hiring for potential doesn’t mean you’re merely hoping for the best. You need to hire for someone’s ability and desire to grow, learn and improve because these are hard to teach. It’s good to ask and see where your candidate wants to go in the future to have a good idea about their personal ambitions.

    This can be in regard to their career in the next five years, whether they see themselves in a leadership role or work-life balance priorities, among others. Always keep in mind that when hiring someone, it’s unlikely that their ultimate goal is the job you’re offering.

    When you have someone on your team with clear ambitions, they’ll be more responsible, pay more attention to detail and care more about their own work ethic.

    Related: 3 Things I’ve Learned About Hiring and Firing After 35 Years in Business

    Close them with the right communication

    Knowing the right qualities to spot when hiring is just the first step. Knowing how to get them to say yes is just as important. In my company, OysterLink, for example, we make sure to discuss the following with every member we hire:

    1. How this role will guide them along their own path

    Now that you have a clear idea of where they’re going, it’s now your job to show them how being in your company will bring them closer to their goals.

    Focus on how the job and the company will equip them with the right skills to thrive in the industry they would like to grow in. When they gain the right experience, they build a strong foundation — and that foundation not only benefits them but also strengthens your team.

    2. How your company will support their growth

    Once you’ve shown how the role fits into their long-term goals, the next step is to make it clear that their growth matters to you, too. As a hiring manager, the way you communicate, provide feedback and structure the hiring process reflects your company’s values — whether that’s clarity, care or a commitment to development.

    Let candidates know that you’re not just filling a position — you’re invested in helping them succeed. When people feel genuinely supported, they’re more motivated, engaged and very likely to grow with you.

    When you combine the right opportunity with the right message, you don’t just attract great talent — you earn their commitment.

    Different companies have different hiring practices. You can have multiple stages with different-level individuals, or just one comprehensive test and final interview — it just really depends on the organization, priorities, urgency and the kind of role.

    You might be able to streamline and customize things as much as you want, but after hiring hundreds of people, I’ve realized that there are three hiring non-negotiables regardless of your approach, industry and the position you’re offering.

    1. Hire problem solvers, not know-it-alls

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  • Before You Invest, Take These Steps to Build a Strategy That Works

    Before You Invest, Take These Steps to Build a Strategy That Works


    Opinions expressed by Entrepreneur contributors are their own.

    Investing doesn’t start with your first transaction — it begins much earlier. From defining the types of investments you’re interested in to setting clear financial goals, the early stages are critical. Investing can be complex and time-intensive, especially when deciding where to place your capital. That’s why having a thoughtful, informed strategy from the outset is so important: it ensures your investments are purposeful and aligned with your longterm vision.

    Before you commit any resources, take the time to craft a strategy that reflects your goals, values and risk tolerance. A structured approach not only reduces unnecessary risk but also clarifies why you’re investing and how each decision supports the bigger picture. This clarity transforms your investment approach from reactive to intentional.

    As an entrepreneur, I’ve refined my own investment strategy over time. It’s diverse by design, built to support both my financial goals and my broader mission. If you’re wondering how to figure out where your own investments should go, here are four actionable steps to help guide your placement strategy:

    1. Define your investment goals

    Start by asking yourself: What do I want my investments to achieve? Are you aiming for longterm wealth, social impact, business expansion or a mix of these? Knowing what success looks like will shape how much you invest, when and where.

    Consider the types of investments that resonate most—whether that’s equity, partnerships, philanthropic initiatives, or ventures tied to innovation. Aligning your goals with your core values will not only give you direction but also help you stay committed when markets shift.

    Related: How to Diversify Your Business Interests

    2. Choose your asset allocation strategy

    Asset allocation — how you distribute your investments across asset classes — is central to managing risk and return. The main categories include equities, fixed income and cash or cash equivalents. Each has different risk profiles and growth potential.

    There’s no one-size-fits-all approach. My own strategy, for example, spans three buckets: equity and business investments, partnerships and strategic collaborations and philanthropic efforts. This setup works for me because I prioritize both financial returns and impact. A significant portion of my portfolio supports global health, education, and sustainability initiatives.

    A thoughtful allocation plan helps you stay balanced, even when the markets aren’t.

    3. Diversify strategically

    Diversification is a time-tested way to reduce risk. If one sector dips, others can help offset the loss. But meaningful diversification goes beyond spreading your investments — it requires research and intention.

    Dig into each opportunity. Understand the potential returns, risks, and how each fits into your broader strategy. For me, diversification also means staying engaged with sectors I care deeply about, like innovation, wellness and climate-conscious enterprises. This keeps my portfolio resilient and aligned with my values.

    Related: The Importance of Portfolio Diversification for Your Investments

    4. Stay adaptable

    Your investment strategy should evolve with you. As your goals, interests and the economic landscape shift, so should your allocations.

    I regularly revisit my portfolio with a few key questions: How are my current investments performing? Do they still reflect my vision? Are there new opportunities I should explore? Lately, I’ve been diving deeper into wellness and sustainable living, especially in high-quality nutraceuticals and biohacking. Those shifts came from staying curious and being willing to pivot when the time felt right.

    Deciding where to place your investments is one of the most important steps in your investing journey. Laying a solid foundation early on helps you navigate growth, risk, and market shifts with confidence. And remember, your strategy isn’t permanent—it’s a living framework that should adapt as you and the world around you evolve. Stay informed, stay connected, and above all, stay intentional. Your future self will thank you.

    Investing doesn’t start with your first transaction — it begins much earlier. From defining the types of investments you’re interested in to setting clear financial goals, the early stages are critical. Investing can be complex and time-intensive, especially when deciding where to place your capital. That’s why having a thoughtful, informed strategy from the outset is so important: it ensures your investments are purposeful and aligned with your longterm vision.

    Before you commit any resources, take the time to craft a strategy that reflects your goals, values and risk tolerance. A structured approach not only reduces unnecessary risk but also clarifies why you’re investing and how each decision supports the bigger picture. This clarity transforms your investment approach from reactive to intentional.

    As an entrepreneur, I’ve refined my own investment strategy over time. It’s diverse by design, built to support both my financial goals and my broader mission. If you’re wondering how to figure out where your own investments should go, here are four actionable steps to help guide your placement strategy:

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  • How AI Can Help You Cut Through Tariff Chaos — in Just 3 Simple Steps

    How AI Can Help You Cut Through Tariff Chaos — in Just 3 Simple Steps


    Opinions expressed by Entrepreneur contributors are their own.

    Since President Trump first announced new tariffs on U.S. trading partners in April, with frequent revisions ever since, American businesses of all sizes have been caught in a whirlwind of uncertainty. For entrepreneurs relying on foreign suppliers, sudden spikes in raw material costs can force a frantic reevaluation of longterm strategies and pricing models. These constantly shifting tariffs have upended months, even years, of planning across operations, production, supply chains, and competitive positioning, leaving many entrepreneurs stuck in near paralysis.

    Most imported products face a baseline duty of at least 10%, but that number is subject to change with little warning. Trump announced much larger reciprocal tariffs on dozens of countries in April before instituting a 90-day pause. Trump also raised tariffs on China to 145% before lowering them back to 30% for most Chinese goods for at least 90 days starting in May. To handle the tariff whiplash and survive in today’s volatile political and economic climate, you need to navigate constant uncertainty and adjust to frequent disruptions. If you’re not able to pivot quickly as changes arise, you may have to pass rising costs onto consumers, putting your business at risk of losing them entirely.

    Related: Walmart Is Raising Prices, According to the Company’s CEO. Here’s When.

    To stay ahead of these constant changes, business owners need to regularly explore a range of “what-if” scenarios. For example, if tariffs rise on a key supplier, how quickly should I adjust prices? Or, what are my options for switching to a supplier in a country with lower tariffs? With so many moving parts, AI can make this easier. Tools like ChatGPT make it simple to start using AI for financial modeling and supply chain analysis —helping you stay agile while navigating unpredictable tariffs.

    How small businesses can use AI for smarter scenario planning and future-proof decisions

    Earlier in my career, I helped large oil companies and financial institutions optimize their supply chains for better efficiency and lower costs. Traditionally, creating these models required complicated Excel spreadsheets and some proficiency in mathematics. Not only has AI made the modeling process more accessible, even for non-technical business owners, but it has also provided business owners with an essential tool for scenario planning that is adaptable in real time.

    Tariffs are fundamentally unpredictable, especially today, so AI can’t predict what tariffs will be tomorrow, next week or next month. It can, however, help your business prepare for the unknown and make smarter decisions faster by running dozens of those “what-if” scenarios in seconds. That’s why it’s best to understand and use AI as an optimization model instead of a one-time solution.

    Here’s how the optimization model works and how you can use it to build a pricing and procurement strategy that will help your business stay on top of 2025 tariffs:

    Step 1: Provide your AI tool with data

    Start by entering the key details into your AI tool—some of which your Large Language Model (LLM) may already know. An LLM is a type of AI that understands and creates human-like text by learning from vast amounts of writing.

    Include information like:

    • Current and projected tariff rates
    • Domestic and international costs of goods
    • Inventory holding periods
    • Revenue per unit

    This data is likely already available in your balance sheet, which you can quickly upload to your AI tool like ChatGPT or source through simple research. The AI’s goal is to optimize for a combination of these variables that yields the highest profitability at the lowest cost at any given point.

    Related: What Is a Tariff? Here’s an Overview of the Basics.

    Step 2: Use AI to model supply chain alternatives

    AI can scan trade databases and tariff announcements in real time, constantly updating teams in need. As tariffs fluctuate and updates are tracked, your optimization model will shift and evolve.

    For example, if tariffs rise and the cost of overseas products increases, you may look to purchase goods domestically and ask your AI system to recommend sourcing alternatives. AI can even compare the benefits, drawbacks and long-term implications of sourcing from various countries.

    While AI can’t provide specific pricing or shipping estimates, it drastically reduces the time it takes to evaluate new options. Once you find the rest of the information you need, by researching online or calling the suggested companies directly, feed it into your model to update your strategy in real-time.

    Step 3: Use AI to explore multiple scenarios and identify the best path forward

    Beyond just helping with sourcing decisions, AI can also recommend how much you can raise your prices to stay profitable without driving customers away. For example, your business might absorb a 5% to 10% tariff increase through modest price hikes, but a 15% increase could start to push customers away. AI can simulate different pricing strategies to help you find the perfect balance for your unique situation.

    Ask your AI tool questions such as:

    • How much would I lose if tariffs remain between 10% and 15% over the next 60 days?
    • When does buying from international suppliers become economically unviable?
    • How much would I need to raise prices if tariffs increase to 20%?
    • What’s the best price increase to keep my revenue steady while covering costs?

    AI can help pinpoint various thresholds and calculate your options. These actionable insights can be life-saving for businesses lacking the time, energy and resources for trial and error.

    Think of AI as a personal financial analyst that works around the clock and costs a fraction of a human hire. Regardless of your business, integrating AI into your operational toolkit and interacting with it daily can help you prepare for an unpredictable market.

    While the future of tariffs remains uncertain, their impact is very real today. Instead of freezing up from uncertainty or making hasty decisions, AI empowers business owners to stay proactive and ready for whatever comes next.

    Since President Trump first announced new tariffs on U.S. trading partners in April, with frequent revisions ever since, American businesses of all sizes have been caught in a whirlwind of uncertainty. For entrepreneurs relying on foreign suppliers, sudden spikes in raw material costs can force a frantic reevaluation of longterm strategies and pricing models. These constantly shifting tariffs have upended months, even years, of planning across operations, production, supply chains, and competitive positioning, leaving many entrepreneurs stuck in near paralysis.

    Most imported products face a baseline duty of at least 10%, but that number is subject to change with little warning. Trump announced much larger reciprocal tariffs on dozens of countries in April before instituting a 90-day pause. Trump also raised tariffs on China to 145% before lowering them back to 30% for most Chinese goods for at least 90 days starting in May. To handle the tariff whiplash and survive in today’s volatile political and economic climate, you need to navigate constant uncertainty and adjust to frequent disruptions. If you’re not able to pivot quickly as changes arise, you may have to pass rising costs onto consumers, putting your business at risk of losing them entirely.

    Related: Walmart Is Raising Prices, According to the Company’s CEO. Here’s When.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.



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