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Stay ahead in business: strategies and insights for success

<p><strong>What you’ll learn:</strong> Discover why some companies are seeking celebrity brand partnerships and the possible risks in this arrangement. Plus, get a few considerations before getting started.&nbsp;&nbsp;</p>



<p>Celebrity brand partnerships have evolved from simple endorsements to deep business collaborations. These can have many benefits, from boosting visibility to enhanced media coverage to building consumer trust. However, authenticity and alignment with the brand’s values are key to success. As influencer marketing rises, companies now seek celebrities who truly connect with their products and audience.</p>



<p>The celebrity endorsement is nothing new: Jack Benny lauded JELL-O and Queen Victoria sipped on Cadbury's cocoa. But in recent years, the relationship between celebrities and brands has grown stronger and more interconnected.&nbsp;Ryan Reynolds is known as a movie star and also for his stakes in Aviation American Gin, Mint Mobile, Maximum Effort (a production company) and a slew of other organizations. Selena Gomez, Lady Gaga and Rihanna are just a few of the celebrities with makeup brands. Meanwhile, Jennifer Garner and Jessica Alba—and many other celebrity moms—helped found mom-focused brands like Once Upon a Farm and The Honest Company.&nbsp;</p>



<p>Companies now collaborate more closely with celebrities than ever before. Today, celebrities don’t just appear in commercials. They also found and invest in companies, steer creative direction and, yes, act as endorsers of products and brands.&nbsp;</p>



<p>Here, we’ll take a look at why these partnerships are so popular and what’s at stake for everyone involved. We’ll also cover a few tips if you’re interested in dipping your toes into this branding strategy.&nbsp;</p>







<h2 class="wp-block-heading" id="h-the-rise-of-celebrity-brand-partnerships-in-business-strategy">The Rise of Celebrity Brand Partnerships in Business Strategy</h2>



<p>Kanye West and Adidas. Michael Jordan and Nike. Ryan Reynolds and Aviation American Gin. Jennifer Garner and Once Upon a Farm. These celebrity brand partnerships go beyond simply the celebrity endorsing the product. In fact, the celebrities become core to the product. In the case of Kanye West, he collaborated with a dedicated team from Adidas on the creative aspects of the Yeezy sneakers. (More on that partnership in a moment.)&nbsp;</p>



<p>Celebrities can help with marketing through touting products on social media and in advertisements, but today they also go beyond. There are different ways celebrities can be deeply and strategically embedded within a company.&nbsp;</p>



<h3 class="wp-block-heading" id="h-equity-deals">Equity Deals</h3>



<p>In this arrangement, the celebrity gets a stake in the company in exchange for an endorsement. This can lead to lower upfront costs. It also means the celebrity has a big motivation for touting your product.&nbsp;</p>



<p>Keep in mind, however, that a celebrity’s time in the spotlight is uncertain. There’s the potential to make an equity deal and then have the person’s fame diminish or have bad press around the celebrity. Plus, this celebrity now has a stake in your company.&nbsp;</p>



<p>Sometimes, rather than receiving equity, a celebrity might receive a cut of the revenue—this also binds them to the success of the product.&nbsp;</p>



<h3 class="wp-block-heading" id="h-co-founder-titles">Co-Founder Titles</h3>



<p>When celebrities have a co-founder title, it makes them synonymous with your brand. Here, the celebrity often helps develop and market products. For instance, Jessica Alba co-founded The Honest Company, which makes baby products. She also served as chief creative officer for many years before stepping down. Brands may also provide other titles to celebrities involved in brands. For instance, Zac Efron served as chief brand officer for Kodiak, which makes high-protein baking mixes.&nbsp;</p>



<p>The bottom line? These days, it’s not uncommon for musicians, actors, influencers and more to work with company brands. They may be integrated into a company’s growth plan as a strategic partner.&nbsp;</p>



<h2 class="wp-block-heading" id="h-what-makes-a-celebrity-backed-startup-stand-out">What Makes a Celebrity-Backed Startup Stand Out</h2>



<p>There are many benefits that celebrity involvement can bring to a startup or brand. This is why entrepreneurs and executives see such value in celebrity-backed startups. Here are a few key advantages:</p>



<h3 class="wp-block-heading" id="h-recognition-and-visibility">Recognition and Visibility</h3>



<p>The most major, of course, is the spike in recognition and visibility. A brand that may not be known can get a big lift from a celebrity’s star power and their ability to garner earned media easily. Picture trying to land your alcohol brand mentions in the press—you’ll have to work hard to get placements in food and beverage media. But align yourself with a celebrity, and you’ll gain coverage across a wide array of media outlets, gaining far greater exposure.&nbsp;</p>



<h3 class="wp-block-heading" id="h-positive-associations-when-it-s-the-right-fit-nbsp">Positive Associations (When It’s the Right Fit)&nbsp;</h3>



<p>It’s not just media attention: Consumers will also transfer their feelings about the celebrity to your brand. Choose a celebrity who is the right fit, and you’ll gain from their reputation and how they’re perceived.&nbsp;</p>



<p>The flip side: Reputations matter, as Adidas found out after partnering with Kanye West. While the Yeezy line was popular and a commercial success, Adidas had to end the partnership with West as a creative leader and celebrity ambassador after the singer’s antisemitic remarks.&nbsp;</p>



<h3 class="wp-block-heading" id="h-possible-increased-investor-interest">Possible Increased Investor Interest</h3>



<p>Finally, a connection with a celebrity can also work to gain investor interest. That hypothetical alcohol brand stands out in communications when it’s aligned with a celebrity. As in the case of George Clooney and Casamigos, the celebrity can also use their star power to help land deals. Essentially, when you partner with a celebrity, your network tends to grow.&nbsp;</p>



<p>But the authenticity of the pairing matters. Jennifer Lopez received pushback and criticism from the media and consumers after launching cocktail brand Delola, since she’s known not to imbibe. Rather than being embedded within the brand (as Clooney was with Casamigos and Reynolds was with Aviation American Gin), Lopez’s involvement may have seemed inauthentic. Make it a priority to partner with a celebrity that genuinely enjoys your product and shares in your company values for the best chance at success.&nbsp;</p>



<p><em><strong>Related:</strong></em> <a href="https://successcom.wpenginepowered.com/best-of-the-best-how-to-create-a-personal-brand-like-dj-khaled/">How to Do Personal Branding Like DJ Khaled</a> </p>



<h2 class="wp-block-heading" id="h-why-influencer-marketing-for-companies-is-evolving">Why Influencer Marketing for Companies Is Evolving</h2>



<p>Companies used to solely seek out big-name celebrities—the athletes, actors and musicians that everyone knew by name—to endorse and promote partners. But now, there’s another path companies can take: <a href="https://successcom.wpenginepowered.com/the-ultimate-guide-to-influencer-marketing-done-right/">influencer</a>. On social media, influencers play an outsized role in marketing products. Unlike a Michael Jordan or Angelina Jolie, online influencers might feel more relatable. People may choose to follow them closely because they’re aligned in terms of interests or demographics.&nbsp;</p>



<p>For marketers, that’s an attractive combination, offering the possibility to target a company’s precise users. Now, companies may conceive of campaigns built around one or several influencers. Rather than give away products or provide an affiliate opportunity, companies may seek to build authentic, long-term relationships. Sometimes their influencers are framed as being brand ambassadors, showing how products are naturally used in their everyday life and promoting products consistently. Instead of a single post promoting a brand, these relationships are deeper.&nbsp;</p>



<p>So when brands turn to celebrities or influencers to act in this role, they want to ensure the right fit. They are looking for people who make sense for the company and its products, have a reputation that’ll boost the company’s brand (and not diminish it), and other key factors. In short, strategies like celebrity brand partnerships and influencer marketing for companies make smart business sense. They can help <a href="https://successcom.wpenginepowered.com/how-to-build-a-brand/">build your brand</a> when it’s the right fit.&nbsp;</p>



<h2 class="wp-block-heading" id="h-famous-brand-partnerships-that-worked-and-why">Famous Brand Partnerships That Worked and Why</h2>



<p>Let’s take a look at some successful collaborations between companies and celebrities:&nbsp;</p>



<ul class="wp-block-list">
<li><strong>Rihanna and Fenty Beauty</strong>: Rihanna launched Fenty Beauty in partnership with luxury giant LVMH. She’s seen as far more than the face of the brand—her desire to have foundation shades for many skin colors led to Fenty Beauty’s huge launch. (It’s also spurred other cosmetics brands to expand their shade offerings.) Rihanna uses the brand and promotes it on her social media. She’s inextricably linked with the products and brand. </li>



<li><strong>Ryan Reynolds and Mint Mobile</strong>: You may have seen commercials with Ryan Reynolds touting Mint Mobile. He was an investor (which makes it likely that he made a profit when the brand was sold to T-Mobile) and continues to advertise for the cell phone service provider. He marketed the company through personality-driven ads while also providing marketing strategy. </li>



<li><strong>George Clooney and Casamigos</strong>: This tequila brand was deeply aligned with movie star George Clooney, which helped it receive attention from media, consumers and investors. </li>
</ul>



<p>As these examples show, celebrity brand partnerships can be valuable and successful if done well.&nbsp;</p>



<p><em><strong>Related:</strong></em> <a href="https://successcom.wpenginepowered.com/how-to-build-your-personal-brand/">How to Build Your Personal Brand From the Ground Up</a> </p>



<h2 class="wp-block-heading" id="h-building-a-brand-ambassador-strategy-with-star-power">Building a Brand Ambassador Strategy With Star Power</h2>



<p>Celebrity brand partnerships and influencer collaborations have a lot of potential for brands, as well as possible pitfalls. This is why it’s important for brands to carefully vet and select partners when it comes to influencer or celebrity brand ambassadors. Some key considerations for a brand ambassador strategy include:&nbsp;</p>



<h3 class="wp-block-heading" id="h-consider-demographics-and-audience">Consider Demographics and Audience</h3>



<p>Jennifer Aniston. Jennifer Garner. Jennifer Lopez. Jennifer Lawrence. Jennifer (Jenny) McCarthy. These Jennifers share a first name and fame, but appeal to different audiences. When you’re developing a partnership, consider the archetype and demographics you’re after and seek a celebrity with the matching appeal. That often means opting for a celebrity with a strong social presence. These days, a celebrity that only receives attention in print and television media is likely a poor fit compared to someone with a robust social presence.&nbsp;</p>



<h3 class="wp-block-heading" id="h-think-about-reputation">Think About Reputation</h3>



<p>There’s little truth to that old saying that there’s no such thing as bad PR. In reality, you want your brand aligned with someone who shares your values and has a reputation that’s a good match for your brand’s ethos and values.&nbsp;</p>



<p>If you’re going after a young, daring audience, a celebrity that’s frequently in the news for partying could still be a good fit. If you’re going after a mom demographic, a celebrity who’s photographed looking disheveled while holding a diaper bag makes sense. The key is to find someone who’s the right fit. Consider the person’s past and whether they’re unlikely to land in a scandal that can reflect poorly on your brand.&nbsp;</p>



<h3 class="wp-block-heading" id="h-seek-a-shared-vision">Seek a Shared Vision</h3>



<p>Aim to partner with a celebrity who is a true fan of your products or services. This will lead to a more authentic partnership. Kim Kardashian tries on products for SKIMS early in their development (and, in fact, posts on <a href="https://successcom.wpenginepowered.com/6-tips-for-rapid-social-media-growth-in-2022/">social media</a> from these sessions, helping to drive demand) and has a genuine passion for shapewear.&nbsp;</p>



<h3 class="wp-block-heading" id="h-factor-in-the-costs">Factor in the Costs</h3>



<p>Factor in the costs of partnering with a celebrity compared to other marketing efforts to assess if it seems worth it to your company and brand.&nbsp;</p>



<p>When it comes to your brand, celebrity partnerships can be beneficial, but they can also carry some level of risk. Keep this in mind as well. Celebrity reputations can change. What seems a good fit initially can become misaligned based on PR stumbles or other factors. Plus, there’s the possibility that coverage of your brand may focus on the celebrity and their involvement rather than the products you sell.&nbsp;</p>



<p><em><strong>Related:</strong></em> <a href="https://successcom.wpenginepowered.com/a-five-step-guide-to-branding-yourself/">A Simple 5-Step Guide to Branding</a> </p>



<h2 class="wp-block-heading" id="h-celebrity-brand-partnerships-amp-influencer-collaborations-can-have-big-benefits-nbsp">Celebrity Brand Partnerships &amp; Influencer Collaborations Can Have Big Benefits&nbsp;</h2>



<p>A relationship with a celebrity—whether they’re involved as a co-founder, driving creative strategy, deeply embedded in marketing efforts or involved in other ways —can have immense benefits for companies, allowing them to differentiate themselves from other brands and stand out in a crowded marketplace. But be sure to choose someone who is aligned with your brand and has a sincere and authentic connection to your products before making this move.</p>



<p class="has-small-font-size"><em>Photo by ChrisStock82/Shutterstock.com</em>.</p>

Madeleine Burry

Celebrity brand partnerships open up the door to increased attention from consumers and media, but do carry some risks.

What you’ll learn: Discover why some companies are seeking celebrity brand partnerships and the possible risks in this arrangement. Plus, get a few | SUCCESS

A Look at Celebrity Brand Partnerships: Benefits, Risks and Tips to Get Started 

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Celebrity Brand Partnerships: Benefits for Companies | SUCCESS

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Achieve financial success and freedom

<p>Financial risk is the possibility of losing money from business or investments. There are five major types of financial risk. These include market risk, credit risk, liquidity risk, operational risk and inflation risk. Understanding, assessing and employing smart strategies to mitigate risk are key to a successful financial future. </p>



<p>Whether you’re an individual, family or business, learning to weigh and manage risk is an integral part of making prudent financial decisions. In fact, if you’re going to try and <a href="https://successcom.wpenginepowered.com/how-to-build-wealth/">build wealth</a> in any way, you’re going to take on financial risk. This might be the risk of investing in public companies, which could fail. Or it may be the risk of getting a business loan to buy additional assets so you can expand your business operations—that could ultimately go under. </p>



<p>If you’re going to succeed financially, you need to know how to assess and manage financial risk both as a consumer and a business owner. In this article, we’ll explain financial risk, how you can assess it and strategies you can use to mitigate it. </p>







<h2 class="wp-block-heading" id="h-what-is-financial-risk">What Is Financial Risk?</h2>



<p>Financial risk is roughly defined as the potential for a person or business to lose money from an investment or business venture.</p>



<p>For individuals, financial risk is commonly seen in the stock market when <a href="https://successcom.wpenginepowered.com/3-keys-to-successful-investing/">investing</a> in public companies. Any company you invest in has the potential to have its stock value drop in price, whether due to internal or external factors.&nbsp;</p>



<p>For businesses, financial risk is usually seen in the form of cash flow issues. If they have problems making enough money, they may not have enough funds to cover their financial obligations. These could include credit card payments or business loan installments.&nbsp;</p>



<p>Financial risk does clearly pose a challenge for individuals and businesses via loss of capital, but it also comes with substantial benefits. For example, riskier investments such as stocks or private equity come with a higher potential for losing money compared to a certificate of deposit. From another angle, a business that takes out a loan (a form of financial risk) has the ability to purchase more equipment or hire additional staff to increase their production—thus increasing its overall profit.&nbsp;</p>



<p>In many ways, the old adage rings true: “No risk, no reward.” That said, not all financial risk is created equal. Let’s take a look at the types of financial risks you can face.&nbsp;</p>



<h2 class="wp-block-heading" id="h-common-types-of-financial-risk">Common Types of Financial Risk</h2>



<p>There are multiple types of financial risks both businesses and consumers should be aware of. Here’s a brief explanation of some of the most common types.&nbsp;</p>



<h3 class="wp-block-heading" id="h-market-risk">Market Risk</h3>



<p>Market risk for individual investors refers to the potential for price decreases in investments. This can be due to external factors, such as interest rates being increased by the Federal government. It could also be due to internal factors, like a company that has a bad earnings report.&nbsp;</p>



<p>An easy example for an investor would be the stock market dropping after <a href="https://www.usatoday.com/story/money/markets/2025/04/02/stocks-trump-tariffs/82767450007/" target="_blank" rel="noreferrer noopener">Donald Trump announced tariffs on imports from the U.S.’s trading partners</a>.&nbsp;</p>



<p>From a business standpoint, market risk refers to how the environment your business operates in is subject to changes that could threaten your profits. A prime example of this is ecommerce businesses like Amazon reducing brick-and-mortar shopping stores’ clientele.&nbsp;</p>



<h3 class="wp-block-heading" id="h-credit-risk">Credit Risk</h3>



<p>Credit risk refers to the potential for a business partner or loanee to not meet their financial obligation to repay money. For individuals, an example of this would be loaning money to a friend that is never repaid.&nbsp;</p>



<p>For businesses, especially banks, credit risk is the chance that a borrower does not pay back their loan. This is also known as defaulting.&nbsp;</p>



<h3 class="wp-block-heading" id="h-liquidity-risk">Liquidity Risk</h3>



<p>Liquidity refers to how quickly—or easily—an investment can be sold (i.e. converted into cash) without affecting its price. Liquidity risk, broadly speaking, is the potential for a business or individual to not be able to sell an investment or asset and have their cash flow interrupted.&nbsp;</p>



<p>From a business standpoint, an example of liquidity risk would be a company holding assets that are difficult to be sold, such as obsolete equipment or technology. If this company needed cash quickly to pay off debts, they could be at risk of not being able to access cash due to a failure to liquidate or sell its assets.&nbsp;</p>



<p>Individuals face liquidity risk when they purchase investments that do not have a high transaction volume or are difficult to sell. A simple example is purchasing a certificate of deposit. While you get a guaranteed return, you lock your money in (unless you pay a penalty or forfeit earned interest). This means that you increase your liquidity risk should you need that money in the short-term.</p>



<h3 class="wp-block-heading" id="h-operational-risk">Operational Risk</h3>



<p>Operational risk is only present with businesses. It refers to the potential for a business venture to fail or have its operations hampered. This could be due to a number of factors such as fraud, mismanagement, poor business design or the success of competing businesses in the area.&nbsp;</p>



<h3 class="wp-block-heading" id="h-inflation-risk">Inflation Risk</h3>



<p>The increase of prices for goods and services affects both businesses and consumers alike, and its risk can be felt in many different ways.&nbsp;</p>



<p>For consumers, inflation can erode your purchasing power with cash. It can also reduce investment returns. There’s a risk that comes with having cash and investments simply due to the fact that prices can increase.&nbsp;</p>



<p>For businesses, rising costs can affect their ability to purchase essential goods or services necessary to keep their business functioning. This can bottleneck a business’ ability to generate cash and potentially increase operational risk as well.</p>



<h2 class="wp-block-heading" id="h-financial-risk-assessment-how-to-evaluate-your-risks">Financial Risk Assessment: How to Evaluate Your Risks</h2>



<p>Often it’s easy to identify certain financial risks. If you hold a large amount of credit card debt, that’s a clear risk. Or, if your business only has two clients, that’s an obvious risk to your profits. But evaluating financial risk to prioritize which ones to mitigate it is a bit more difficult.&nbsp;</p>



<h3 class="wp-block-heading" id="h-scenario-analysis-nbsp">Scenario Analysis&nbsp;</h3>



<p>One method is to ask a series of questions to determine the impact of a financial risk. If the impact of a risk is great and it is difficult to deal with once it occurs, it should probably be labelled as a priority. This risk assessment tool is known as scenario analysis. Here are some questions you can use to brainstorm.&nbsp;</p>



<ol class="wp-block-list">
<li>What are the chances of this financial risk occurring?</li>



<li>If it occurs, how much of an impact would it have on the business (or my personal finances)?</li>



<li>If this risk impacts the business or my personal finances, what steps can we/I take to recover from&nbsp; it?</li>



<li>What can the I or the business do to prevent this risk or prepare in advance of the risk occurring?</li>
</ol>



<h3 class="wp-block-heading" id="h-value-at-risk-var-assessment">Value-at-Risk (VaR) Assessment</h3>



<p>Another common risk assessment tool used to evaluate financial risks is the value-at-risk (VaR) metric. This tool measures the potential loss in an investment position over a period of time.&nbsp;</p>



<p>For example, let’s say you were thinking of buying stocks in a public company. One way of determining the VaR of that stock is to look at its historical returns and losses over a specific time period that matches your investment timeline. You would then measure how often that stock performed poorly in that timeline and if you are comfortable with that potential “worst case scenario.” Keep in mind that is a simplification of one way to calculate VaR.&nbsp;</p>



<h3 class="wp-block-heading" id="h-variance-analysis-nbsp">Variance Analysis&nbsp;</h3>



<p><a href="https://www.bill.com/learning/variance-analysis#:~:text=Overhead%20variance%20analysis%20evaluates%20differences,variance:%20Differences%20in%20fixed%20expenses." target="_blank" rel="noreferrer noopener">Variance analysis</a> is another method that is commonly used by businesses to see areas that are higher risk based on gaps and past performance. It might include revenue, materials, production, labor and overhead. This type of can help protect against a future lack of cash flow.&nbsp;</p>



<h3 class="wp-block-heading" id="h-regression-analysis-nbsp">Regression Analysis&nbsp;</h3>



<p>The <a href="https://corporatefinanceinstitute.com/resources/data-science/regression-analysis/" target="_blank" rel="noreferrer noopener">regression analysis</a> model can help determine the relationship between variables and help predict future financial relationships. This is a more advanced method that involves more complex statistical data sets. It might be used for financial forecasting or assessing the volatility of stocks.&nbsp;</p>



<h3 class="wp-block-heading" id="h-financial-risk-assessment-software-tools-nbsp">Financial Risk Assessment Software Tools&nbsp;</h3>



<p>For businesses or more advanced financial risk analysis needs, there are also a number of <a href="https://savvycomsoftware.com/blog/best-financial-risk-management-software/" target="_blank" rel="noreferrer noopener">software programs that can help measure financial risk</a>. These are especially pertinent to finance industries and investors. These tools can often provide analysis, reporting, monitoring and even audits&nbsp;&nbsp;</p>



<p>Regardless of what type of risk assessment tool or financial risk analysis methods you use, understanding the type and number of risks you face before making a financial decision is critical.&nbsp;</p>



<h2 class="wp-block-heading" id="h-financial-risk-management-key-strategies-for-individuals-and-businesses">Financial Risk Management: Key Strategies for Individuals and Businesses</h2>



<p>Seeing all the different types of financial risks can feel overwhelming. How can you avoid all of those different financial pitfalls? The key is to find strategies that mitigate or reduce your risk exposure.&nbsp;</p>



<h3 class="wp-block-heading" id="h-mitigating-financial-risk-for-individuals-nbsp">Mitigating Financial Risk for Individuals&nbsp;</h3>



<p>Some key <a href="https://successcom.wpenginepowered.com/risk-management-strategies/">risk management strategies</a> for individuals include: </p>



<ul class="wp-block-list">
<li><strong>Proper budgeting</strong>: Keeping track of your expenses and ensuring you have enough cash flow to cover them is a simple way to reduce your liquidity risk. It can also help you repay your debts so you can focus on using your money for more lucrative opportunities, such as investing in stocks or bonds.&nbsp;</li>



<li><strong>Managing debt: </strong>Learning how to manage and repay your debts can give you more access to cash in the long run: instead of paying into an overdue credit card, you can have access to that money in your account. In some cases, such as when you start a <a href="https://successcom.wpenginepowered.com/debt-management-plans-and-how-they-work/">debt management plan</a>, you can reduce your debts and lower your corresponding credit risk in the eyes of banks and other lenders.&nbsp;</li>



<li><strong>Increase savings:</strong> Building up your emergency savings to around three- to six-months worth of expenses can significantly decrease your financial risk. If you face unexpected expenses, rather than taking out an emergency loan you can pull the money from your nest-egg.&nbsp;</li>



<li><strong>Adding insurance: </strong>Whether it’s health, life, disability or property insurance, having a plan in place to protect you and your loved ones is always a prudent risk-reduction technique. This can ensure your assets are protected in the event of a tragedy and that your family can continue to financially operate.&nbsp;</li>
</ul>



<h3 class="wp-block-heading" id="h-reducing-financial-risk-for-businesses">Reducing Financial Risk for Businesses</h3>



<p>Business risk management strategies are similar to those for individuals, but they can be more complex. Some common strategies include:&nbsp;</p>



<ul class="wp-block-list">
<li><strong>Diversify investments/income: </strong>Creating additional streams of income or investment types in a corporate portfolio can reduce financial risk that comes with offering only one type of good or service. Diversification also applies to clients. Where possible, do not rely on a small number of clients to generate profits, as market changes or negative economic developments can quickly disrupt your profits if one or two clients leave.</li>



<li><strong>Create a risk management plan: </strong>Writing up a risk management plan is a clear step to aim to reduce risks—it helps your organization become more aware of them. A financial risk management plan would include how your company assesses, identifies and reduces financial risks.&nbsp;</li>



<li><strong>Create a contingency plan</strong>: Sometimes financial risk cannot be avoided and consequences follow. Creating a contingency plan for if a financial risk occurs can help you navigate a risk and reduce its effect. This could be having a list of potential vendors to contact in case a supplier falls through, for example.&nbsp;</li>



<li><strong>Purchase insurance: </strong>Insurance is a cornerstone of proper financial risk mitigation. While professional and general liability insurance are typically enough for some businesses, it’s important you review your company’s individual risks to see if additional coverage would be beneficial.&nbsp;</li>
</ul>



<h2 class="wp-block-heading" id="h-why-identifying-financial-risk-is-essential">Why Identifying Financial Risk Is Essential</h2>



<p>Identifying risks is a normal part of living wisely, and the same principle should be applied to financial decisions. Whether you’re an individual investor or a business owner with hundreds of employees and thousands of decisions to make, understanding and controlling financial risk will lead to better financial outcomes time and time again.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by insta_photos/Shutterstock.</em></p>

Brett Surbey

There are multiple types of financial risks you should be aware of. Learn about their respective financial risk management strategies.

Financial risk is the possibility of losing money from business or investments. There are five major types of financial risk. These include market risk, | SUCCESS

The 5 Major Types of Financial Risk You Need to Know About

The 5 Major Types of Financial Risk | SUCCESS

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<p><strong>What you’ll learn: </strong>Discover some of the advantages of AI meeting assistants and how these powerful tools can help you. We’ll outline some of the top tools available and what they offer.&nbsp;</p>



<p>AI meeting assistants aren’t just nice to have in today’s business environment. They’re powerful, beneficial tools that can give workplaces a strategic advantage. They can help transform tasks, projects, and collaboration. They’re improving communication among co-workers and decreasing some of the cognitive load workers bear. </p>



<p>Remote and hybrid work is becoming more common post-COVID. AI technology is advancing at a quickening pace. Accordingly, many teams are now adopting AI meeting assistants to transcribe their discussions, improve their productivity, and stay aligned despite geographical limitations. </p>



<p>According to research from <a href="https://market.us/report/ai-powered-meeting-assistants-market/" target="_blank" rel="noreferrer noopener">Market.us</a>, the AI meeting market is expected to balloon to $24.6 billion by 2034, a nearly $22 billion increase from 2024’s market size of $2.68 billion.&nbsp;</p>



<p>AI meeting assistants are becoming a core staple in remote work environments, but not all applications are created equal. In this article, we’ll discuss the ins and outs of AI meeting assistants. We’ll review some of the top products on the market and offer recommendations based on the type of tasks you work on. Let’s get to it.&nbsp;</p>



<p>Are you just starting your remote work career? Grab our <a href="https://offer.success.com/ebook/rock-remote-work/">free remote work e-book</a> to find out how to work from anywhere without sacrificing efficiency.&nbsp;</p>







<h2 class="wp-block-heading" id="h-what-is-an-ai-meeting-assistant-and-why-does-it-matter">What Is an AI Meeting Assistant and Why Does It Matter?</h2>



<p>AI meeting assistants are tools that use artificial intelligence to complete administrative tasks. These tasks include:</p>



<ul class="wp-block-list">
<li>Real-time transcription</li>



<li>Note-taking</li>



<li>Meeting summaries</li>



<li>To-do list creation from meeting notes</li>



<li>Post-meeting follow-up preparation assistance</li>



<li>Scheduling online meetings for multiple parties</li>
</ul>



<p>These applications can integrate with a number of other video meeting platforms, making them easy to use and implement.&nbsp;</p>



<p>Gone are the days when two staff members need to compare notes and sort through their memories to collaborate correctly. With AI meeting assistants, team members can collaborate faster and come to decisions quicker. They can increase their overall productivity by reducing the communication barriers surrounding physical note-taking.&nbsp;</p>



<h3 class="wp-block-heading" id="h-how-does-an-ai-note-taker-enhance-productivity-during-virtual-meetings">How Does an AI Note-Taker Enhance Productivity During Virtual Meetings?</h3>



<p>Because an AI meeting assistant takes notes automatically, participants can easily focus on discussing key ideas rather than keeping up with the conversation. These assistants can also create meeting summaries. The summaries can be useful in a variety of ways and may reduce the need for additional meetings with other stakeholders. Stakeholders can simply go over the summary instead.&nbsp;</p>



<p>Other assistants are equipped to create action items based off of meetings and send them to each applicable team member so no tasks are missed.</p>



<p>Depending on the type of assistant you use, you can also seamlessly share these notes, summaries, or action items with colleagues at the click of a button. </p>



<p>Here’s a personal anecdote to drive this point home: As a remote freelance writer, I interview experts regularly to get quotes for pieces. If I took notes by hand, I would be mentally divided between actively listening to my source and taking accurate notes. Using an AI meeting assistant allows me to focus on asking the best questions to my source to get information that is unique and what my editor and readers are looking for.&nbsp;</p>



<p>Thinking of working remotely but not sure where to start? Check out our <a href="https://offer.success.com/ebook/rock-remote-work/">free remote work e-book</a> for advice on the best remote gear, training and more so you can successfully work from anywhere.&nbsp;</p>



<h2 class="wp-block-heading" id="h-common-ai-meeting-companions-in-the-marketplace">Common AI Meeting Companions in the Marketplace</h2>



<p>Three of the most common meeting platforms on the market are Google Meet, Microsoft Teams, and Zoom. Each of these platforms has its own built-in AI meeting companion. Below is a brief explanation of each. </p>



<h3 class="wp-block-heading" id="h-zoom-ai-companion">Zoom AI Companion</h3>



<p><a href="https://successcom.wpenginepowered.com/zoom-ai-new-tools/">Zoom’s AI Companion</a> handles a myriad of administrative tasks for the remote working professional. Users can:&nbsp;</p>



<ul class="wp-block-list">
<li>Ask the companion to catch them up on a meeting if they arrived late</li>



<li>Have the companion record video and audio meetings and create transcripts&nbsp;</li>



<li>Ask Zoom’s AI Companion questions about the recording and receive tailored responses</li>



<li>Schedule meetings easily using the AI Companion</li>



<li>Receive a summary and next steps task list from the AI Companion based on the meeting</li>



<li>Summarize text chats between team members that occurred during a video call</li>
</ul>



<p>Keep in mind that Zoom’s AI Companion is included for all users that pay for Zoom-specific services, such as a paid Zoom meetings account. Free Zoom users do not have access to AI features.&nbsp;</p>



<h3 class="wp-block-heading" id="h-copilot-for-teams-meetings">Copilot for Teams Meetings</h3>



<p><a href="https://successcom.wpenginepowered.com/microsoft-introduces-autonomous-ai-agents/">Microsoft</a> has its own built-in AI assistant for its Microsoft Teams video/audio calling platform: Copilot. Microsoft users that communicate with team members using Teams can use Copilot to:</p>



<ul class="wp-block-list">
<li>Easily transcribe meetings</li>



<li>Determine key points in the meeting by asking Copilot specific prompts (e.g., “What time is our next appointment?”)</li>



<li>Catch up on meetings if they arrive late</li>



<li>Summarize Teams meeting chats&nbsp;</li>



<li>Take AI-powered notes during the meeting</li>



<li>Source summaries, recaps, action items and other key information by asking Copilot detailed questions</li>
</ul>



<p>Copilot for Teams offers very similar functionality to other AI companions, but from my review, it requires a bit more prompting. Where some AI assistants automatically create to-do lists or summaries, Copilot needs to be prompted to do so.&nbsp;</p>



<p>Note that intelligent recap functionalities are limited to Teams Premium users or those who have a Microsoft 365 Copilot license.&nbsp;</p>



<h3 class="wp-block-heading" id="h-gemini-ai-note-taker-for-google-meet">Gemini AI Note-Taker for Google Meet</h3>



<p>Google has its own note-taker built into Google Meet for eligible Google Workspace subscribers through Gemini AI.&nbsp;</p>



<p>As with other AI assistants, Gemini is able to:</p>



<ul class="wp-block-list">
<li>Take notes on meetings</li>



<li>Transcribe meetings in full&nbsp;</li>



<li>Catch team members up if they arrive late, using the proper prompt</li>



<li>Provide a summary to the meeting organizer</li>



<li>Attach post-meeting information to the Google Calendar link for all participants</li>



<li>Suggest next steps following the conclusion of a meeting</li>



<li>Provide key insights about a meeting, both during and following a conversation</li>
</ul>



<p>Though Gemini is similar to Zoom and Teams AI companions, it does offer an interesting workflow with Google Calendar and Google Docs. Rather than take notes in the Google Meet chat, <a href="https://successcom.wpenginepowered.com/google-docs-gemini-ai-integration/">Gemini creates a Google Doc</a> with the meeting summary, notes, takeaways, etc., inside. This same document is also attached to the Google Calendar link for each participant, making it easily accessible. <strong><br></strong></p>



<h2 class="wp-block-heading" id="h-comparing-the-best-ai-note-taking-apps-on-the-market-today">Comparing the Best AI Note-Taking Apps on the Market Today</h2>



<p>As the market for AI meeting assistants grows, the amount of options at your disposal also expands. Here are some of our top picks for AI note-taking apps available today. Depending on your needs, you may use a resource as a general tool or as an AI note-taker for Teams, Google Meet, Zoom, or other platforms. </p>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td><strong>Name</strong></td><td><strong>Best For</strong></td><td><strong>Key Features</strong></td><td><strong>Integrations</strong></td><td><strong>Pricing</strong></td></tr><tr><td><a href="https://www.avoma.com/" target="_blank" rel="noreferrer noopener">Avoma</a></td><td>Post-meeting analysis</td><td>Note-taking, transcription, meeting summaries, dividing meetings into key insights, AI-generated follow-up emails</td><td>Zoom, Google Meet, Teams, BlueJeans, GoTo Meeting, Highfive, Uber Conference</td><td>Starting at $19 per month</td></tr><tr><td><a href="https://fathom.video/" target="_blank" rel="noreferrer noopener">Fathom</a></td><td>Free AI assistance</td><td>Transcription, note-taking, meeting summaries, creating playlists of video meetings</td><td>Zoom, Google Meet, Teams</td><td>Free, with the option to upgrade to a paid plan</td></tr><tr><td><a href="https://fellow.ai/" target="_blank" rel="noreferrer noopener">Fellow</a></td><td>Privacy and security features</td><td>Transcription, note-taking, meeting summaries, AI-powered meeting search, custom sharing controls</td><td>Zoom, Google Meet, Teams</td><td>Free with limited capabilities, $7 per user per month for basic plan</td></tr><tr><td><a href="https://fireflies.ai/" target="_blank" rel="noreferrer noopener">Fireflies</a></td><td>Complex conversation analysis</td><td>Transcription, note-taking, meeting summaries, emotional analysis of conversations, AI-powered meeting search</td><td>Zoom, Teams, Google Meet, Webex</td><td>Free with limited capabilities, $10 per user per month for basic plan</td></tr><tr><td><a href="https://otter.ai/" target="_blank" rel="noreferrer noopener">Otter</a></td><td>Meeting notes templates</td><td>Transcription of live and recorded meetings, meeting summaries, note-taking, AI-powered search, built-in meeting templates</td><td>Zoom, Google Meet, Teams</td><td>Free with limited capabilities, $8.33 per month for basic plan</td></tr><tr><td><a href="https://www.supernormal.com/" target="_blank" rel="noreferrer noopener">Supernormal</a></td><td>Collaboration across teams</td><td>Transcription, note-taking, meeting summaries, AI-powered search, shared transcriptions and task list</td><td>Zoom, Google Meet, Teams, Salesforce&nbsp;</td><td>Free with limited capabilities, $18 per month per user for basic plan</td></tr></tbody></table></figure>



<h2 class="wp-block-heading" id="h-how-to-choose-the-right-ai-assistant-nbsp">How to Choose the Right AI Assistant&nbsp;</h2>



<p>Selecting the right tech stack isn’t just about reviews and ratings. It’s more importantly about what technology accomplishes your goals the best. For a smaller business just starting up, “best” might mean most inexpensive but usable. For a more mature business, “best” might mean the most comprehensive option, regardless of price. Here are some general guidelines to help you find the right AI meeting assistant:&nbsp;</p>



<ul class="wp-block-list">
<li><strong>It should be easy to use. </strong>For tech to make a difference in a company, it has to be used by as many team members as possible. With that in mind, any meeting assistant you pick should be as intuitive as possible, or at least be in step with the technological abilities of your team members.&nbsp;</li>



<li><strong>It should easily integrate with current applications. </strong>Any AI assistant you choose needs to be able to integrate with your current tech stack, whether that’s a specific video-calling program or a CRM application. Otherwise, you could end up making more work for you and your team.&nbsp;</li>



<li><strong>It should solve real problems. </strong>When it comes to purchasing new tools, the desire to purchase shiny new technology simply because everyone else is can eclipse a more important question: Does my business actually need this? Don’t purchase an AI tool just because the technology is interesting. Buy it only if it reduces your staff’s workload and removes real business roadblocks.&nbsp;</li>
</ul>



<p>Worried about losing your productive edge working from home? Don’t be! Download our <a href="https://offer.success.com/ebook/rock-remote-work/">free remote work e-book</a> and learn 10 critical remote work tips to help you stay on top of your career.&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-to-use-ai-meeting-summaries-to-drive-post-meeting-action">How to Use AI Meeting Summaries to Drive Post-Meeting Action</h2>



<p>AI meeting companions that generate meeting summaries can give all meeting participants a major edge after the discussion: a bias toward action. Rather than ending a meeting trying to remember what you were asked to do, an AI-summary can give you step-by-step instructions on what each meeting participant’s next steps are. Here’s how.</p>



<p>Following a meeting, use your AI of choice to create a summary. You can typically ask the AI to build a summary, or it may complete it automatically. Then, ask the AI companion to pull out any action items for each meeting participant and place them into an email or shared document. Depending on the type of AI you use and the tech stack you’re working with, you might be able to automate this entire process.&nbsp;</p>



<p>For example, if you’re using Gemini in Google Meet, the AI would have created a separate Google Doc with the summary and attached it to the Google Calendar event for all team members to see. If you’re using a program that has limited features, you simply send an email of the action items. You could alternatively put them into a shared online planner for everyone to access.&nbsp;</p>



<p>Regardless of how you share the meeting summary and action items, it’s critical you communicate them clearly. Ensure everyone is aware of their expectations. Then watch your team improve follow-up skills, increase their accountability and rely on each other for project management.&nbsp;</p>



<h2 class="wp-block-heading" id="h-try-using-an-ai-assistant-in-your-next-meeting">Try Using an AI Assistant in Your Next Meeting</h2>



<p>AI meeting assistants aren’t just about reducing administrative tasks and compiling information, they’re creating a culture of clear communication, project accountability and continuing productivity. From meeting summaries, accurate transcriptions and even conversation analysis functions, AI meeting tools are powerful. They have the potential to completely change how modern teams collaborate together.&nbsp;</p>



<p>Not sure if an AI meeting assistant is the right choice for you and your team? Try one of the free options we listed above. There’s no risk to trying a new tool, so long as it accomplishes your team’s goals and aligns with your current workflows.</p>



<p class="has-small-font-size"><em>Photo by Ground Picture/Shutterstock.com.</em></p>

AI meeting assistants are changing communication in the workplace. Here’s our take on some of the best AI meeting tools on the market.

What you’ll learn: Discover some of the advantages of AI meeting assistants and how these powerful tools can help you. We’ll outline some of the top tools | SUCCESS

How AI Meeting Assistants Are Changing the Way Teams Communicate

AI Meeting Assistants Are Changing Communication | SUCCESS

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Company executives work on drafting a positioning statement for their brand

The,Business,Team,Jointly,Plan,The,Investment,At,The,Meeting.

<p><em>Gain an understanding of exactly what a positioning statement is and why it matters when it comes to branding. Discover practical tips on how to craft one for your brand and use our examples to help you get started.&nbsp;</em></p>



<div style="height:30px" aria-hidden="true" class="wp-block-spacer"></div>



<p>A positioning statement is a short, strategic description that defines what your brand offers, who it serves, and why it’s different from competitors. Unlike a slogan or tagline, it’s an internal tool that guides marketing, sales, and product decisions.</p>



<p>Brands need positioning statements because they create clarity and consistency. A clear statement ensures everyone on your team understands your target audience, your unique value, and how you solve customer problems. This alignment helps your messaging stand out in a crowded market and makes it easier for customers to recognize why your brand matters.</p>



<p>In today’s competitive landscape, having a strong product or service isn’t enough. A well-crafted positioning statement acts as your brand’s compass—it keeps strategy focused, messaging consistent, and audiences engaged with the value only you provide.</p>



<h2 class="wp-block-heading" id="h-what-is-a-positioning-statement-and-why-is-it-important-nbsp">What Is a Positioning Statement and Why Is It Important?&nbsp;</h2>



<p>A brand positioning statement is a strategic internal document. It serves as a comprehensive description of your product and <a href="https://successcom.wpenginepowered.com/how-to-find-your-audience-because-you-dont-need-everyone/">target audience</a>. In addition, it explains how your offering fills a specific market need.&nbsp;</p>



<p>This written statement combines both logistical and value-based details. It defines how your brand is perceived and what differentiates it from competitors in the marketplace. Your statement helps ensure your strategy and messaging align with your brand’s goals.&nbsp;</p>



<p>A positioning statement is typically created during the initial kickoff phase. Marketing and sales staff use this statement to guide their messaging and make sure all communication aligns when <a href="https://successcom.wpenginepowered.com/how-to-build-a-brand/">building the brand</a>. This helps ensure consistency.&nbsp;</p>



<p>Your positioning statement encompasses critical elements. These include:</p>



<ul class="wp-block-list">
<li><strong>Your target market</strong></li>



<li><strong>Market category</strong></li>



<li><strong>Customer pain points</strong></li>



<li><strong>Brand promise</strong></li>



<li><strong>Brand identity</strong></li>
</ul>



<p>These all work together to create a clear vision that puts your brand in its best position in a competitive landscape.&nbsp;</p>



<h2 class="wp-block-heading" id="h-what-purpose-does-a-positioning-statement-serve-nbsp">What Purpose Does a Positioning Statement Serve?&nbsp;</h2>



<p>Once you’ve gained the answer to “What is a positioning statement?”, it’s important to understand its critical purpose. A positioning statement is essential because it serves as the foundational tool for marketing. This includes guiding messaging, product development and customer engagement.</p>



<p>The primary purpose is to articulate:</p>



<ul class="wp-block-list">
<li><strong>Who the business serves</strong></li>



<li><strong>What specific value it delivers</strong></li>



<li><strong>How it solves customer problems</strong></li>



<li><strong>What distinguishes it from competitors </strong></li>
</ul>



<p>It helps establish the brand's identity and goals within the context of the buyer's experience, providing potential customers with a clear understanding of what the business offers and why it matters to them. It also ensures that all communication remains consistent and aligned with the brand’s goals.&nbsp;</p>



<p>Positioning statements differentiate the brand from competitors and attract the right customers. They can also help provide insights into consumer preferences that support long-term business growth.</p>



<h2 class="wp-block-heading" id="h-positioning-statement-vs-value-proposition-what-s-the-difference-nbsp">Positioning Statement vs. Value Proposition: What’s the Difference?&nbsp;</h2>



<p>Both the value proposition and positioning statement are key components of a company’s marketing strategy. Although similar, these two statements have clear differences. The value proposition is often used as part of the positioning statement. It outlines the benefits your products or services provide to your customers and <a href="https://successcom.wpenginepowered.com/making-your-offering-relevant/">what sets you apart from competitors</a>.&nbsp;</p>



<p>There is also a contrast in how they are viewed. A positioning statement is an internal strategic tool that defines how a company wants to be perceived in the marketplace in relation to competitors and helps guide marketing and communications decisions.&nbsp;</p>



<p>On the other hand, a value proposition is a customer-facing statement. It focuses on the specific value or benefits customers will receive from choosing your products or services. In other words, a positioning statement establishes your competitive outlook and strategic direction. A value proposition translates that positioning into compelling customer benefits that drive purchase decisions.&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-to-write-a-positioning-statement-that-works-nbsp">How to Write a Positioning Statement That Works&nbsp;</h2>



<p>Now that you understand the value of having this critical marketing tool, you’ll want to know how to write a positioning statement. An effective positioning statement should include several aspects. These include describing who your target customer is, what your products and/or services are, and why you do what you do. It also covers how you fill a need in a different way than your competitors.&nbsp;</p>



<p>Here’s a step-by-step guide, including how long a positioning statement should be.&nbsp;</p>



<h3 class="wp-block-heading" id="h-1-start-with-a-proven-formula-nbsp">1. Start With a Proven Formula&nbsp;</h3>



<p>According to Harvard Business School, the simple formula for crafting a positioning statement is:&nbsp;</p>



<p>“We help [target audience] do [customer need] by [brand attribute].”&nbsp;</p>



<p>While you can add your own flair to your statement, it’s helpful to start with this setup in mind.&nbsp;</p>



<h3 class="wp-block-heading" id="h-2-identify-your-target-audience">2. Identify Your Target Audience</h3>



<p>Figure out who exactly your customers are and what they want. Otherwise, it will be impossible to write a solid positioning statement. <a href="https://successcom.wpenginepowered.com/startup-market-research-guide/">Research</a> demographics data to provide insights about your target audience. This might include where they live, how old they are, what they do for a living, purchasing habits, pain points and more.&nbsp;</p>



<p>If you aren’t sure about these details, send your current customers a survey or research similar companies and their audience. Then use this information to create detailed customer personas to reveal how best to position your product or service to reach the right people.&nbsp;</p>



<h3 class="wp-block-heading" id="h-3-define-your-market-category">3. Define Your Market Category</h3>



<p>Understand your competition and where you fit into the marketplace. Determine your market category and similar companies in that space. Look to other brands for examples to get your creative juices flowing.&nbsp;</p>



<p>What tactics are they using successfully? Why are they working? What similarities and differences are there between your company and theirs? Take those lessons learned to formulate your own positioning statement and marketing strategy.</p>



<h3 class="wp-block-heading" id="h-4-highlight-your-unique-benefit">4. Highlight Your Unique Benefit</h3>



<p>Differentiating your company from competitors is critical throughout this exercise. Be honest, authentic and transparent when communicating your positioning statement. Incorporate your fundamental values and vision. Don’t exaggerate or make promises you can’t keep, as that will only turn customers off.&nbsp;</p>



<p>Highlight what makes your company and your offerings different and better than what others have. Use data and testimonials to back it up. It’s also okay to celebrate the quirks and imperfections that set your business apart from others.&nbsp;&nbsp;</p>



<h3 class="wp-block-heading" id="h-5-keep-it-clear-concise-and-strategic-nbsp">5. Keep It Clear, Concise and Strategic&nbsp;</h3>



<p>Effective positioning statements should be brief, empathetic and simple to maximize their impact. They should lead with empathy, since customers seek brands that understand their needs. Choose words strategically. Eliminate any unnecessary details that can make the statement long-winded and confusing.&nbsp;</p>



<p>The best statements:</p>



<ul class="wp-block-list">
<li><strong>Are limited to three to five sentences</strong></li>



<li><strong>Focus on clear value propositions rather than aspirational language</strong></li>



<li><strong>Prioritize clarity and brevity over complexity</strong></li>
</ul>



<p>Done well, a positioning statement can quickly capture attention, communicate what sets a company apart from competitors and provide compelling reasons for customers to engage with the brand.&nbsp;</p>



<h2 class="wp-block-heading" id="h-effective-brand-positioning-statement-examples-nbsp">Effective Brand Positioning Statement Examples&nbsp;</h2>



<p>Here are three examples of effective brand positioning statements from well-known companies.&nbsp;</p>



<h3 class="wp-block-heading" id="h-apple-nbsp">Apple&nbsp;</h3>



<p>“Apple strives to bring the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and internet offerings.”&nbsp;</p>



<p>Apple’s statement covers a broad yet specific audience. It does so while focusing on innovation and its premium quality of products and services that cater to various customer needs.&nbsp;</p>



<h3 class="wp-block-heading" id="h-google-nbsp">Google&nbsp;</h3>



<p>“Google’s mission is to organize the world’s information and make it universally accessible and useful.”&nbsp;</p>



<p>Google’s positioning statement exemplifies its core mission and values, including accessibility. It is clear and ambitious, reflecting its global reach.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<h3 class="wp-block-heading" id="h-nike">Nike</h3>



<p>“Our mission is: to bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.”&nbsp;</p>



<p>Nike’s statement has a strong emotional appeal that is inclusive and empowering, making everyone feel like they can be athletic.&nbsp;</p>



<h2 class="wp-block-heading" id="h-final-takeaway-every-business-needs-a-positioning-statement">Final Takeaway: Every Business Needs a Positioning Statement</h2>



<p>The question of “What is a positioning statement?” and how it helps a brand is important knowledge for today’s businesses. A well-crafted positioning statement serves as the strategic foundation. It clearly defines how your brand, product or service is different from competitors’. This strategic tool highlights why your target audience should choose you.&nbsp;</p>



<p>It also acts as an internal compass to align all marketing, product and messaging strategies to ensure consistency and focus. Now is the perfect time to create or revisit your own brand positioning statement.</p>



<p>Writing a brand positioning statement is a key goal for your business. If you’re ready to start crushing all your business goals, check out our <a href="https://offer.success.com/ebook/goal-setting/">Goal-Setting E-Book</a> today for powerful insights.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by Amnaj Khetsamtip/Shutterstock.</em></p>

Sandi Schwartz

Struggling to explain your brand? Create a brand positioning statement that aligns marketing, sales, and messaging using our examples.

Gain an understanding of exactly what a positioning statement is and why it matters when it comes to branding. Discover practical tips on how to craft one | SUCCESS

What Is a Positioning Statement? Why It Matters—and How to Write Yours

What Is a Positioning Statement? Examples & Tips | SUCCESS

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A young couple discuss a family limited partnership with their lawyer

Cheerful,Young,Couple,Shaking,Hands,With,African,American,Lawyer,,Broker,

<p><em><strong>What You’ll Learn: </strong>Gain an understanding of what exactly a family limited partnership (FLP)  is, its benefits, and when you might need to consider one. You’ll also learn how it compares to trusts and LLCs— and how to get started if it’s right for you. </em></p>



<div style="height:30px" aria-hidden="true" class="wp-block-spacer"></div>



<p>A family limited partnership (FLP) is a legal setup in which two or more members of the same family <a href="https://successcom.wpenginepowered.com/what-is-estate-planning-and-what-documents-should-be-included-in-yours/">plan their estate</a> by pooling their assets. The main goals of an FLP are to facilitate smooth wealth transfer among family members, minimize estate taxes, and protect family assets from creditors or lawsuits. In simpler terms, it is a company or business under ownership by at least two family members.</p>



<p>To understand how an FLP works, it’s helpful to first examine its unique structure, which splits roles and responsibilities to balance control and benefits across family members. We’ll delve deeper into the structure and benefits below.&nbsp; We’ll also compare FLPs to trusts and LLCs. In addition, we’ll highlight the pros and cons to help you decide whether setting up an FLP will be worth your while. Finally, you’ll learn how to set up an FLP should it be right for you.&nbsp;</p>







<h2 class="wp-block-heading" id="h-understanding-the-family-limited-ownership-structure">Understanding the Family Limited Ownership Structure</h2>



<p>An FLP has two types of partners—general partners and limited partners. The former are usually the parents in a family. The latter are typically their children, who own shares of an FLP but have no control, enjoying limited liability.</p>



<p>Let’s take the case of a hypothetical married couple, Jane and John, owning a rental property portfolio forming an FLP. They are general partners and, as such, control leasing and sales. Their children receive income from the rent their parents collect.</p>



<p>To lower their taxable assets while retaining total control over their estate, Jane and John may choose to give their children partnership stakes. In this scenario, the legally enforceable partnership agreement establishes the rules governing the transfer of ownership stakes, outlines responsibilities, and specifies how profits will be divided.</p>



<p>This structure is the foundation of an FLP’s estate planning power, blending control with transferring wealth.</p>



<h2 class="wp-block-heading" id="h-family-limited-partnership-in-estate-planning-key-benefits">Family Limited Partnership in Estate Planning: Key Benefits</h2>



<p>Family limited partnerships are popular when it comes to estate planning because they offer a slew of wealth preservation advantages. Here are the five main advantages that make FLPs a beneficial option for families.</p>



<h3 class="wp-block-heading" id="h-1-asset-protection">1. Asset Protection</h3>



<p>Assets held in an FLP are, by law, protected from lawsuits and auctioning by creditors of individual family members. However, this does not apply to creditors of the FLP. This kind of protection ensures that even the creditors of the FLP are only granted access to distributions rather than actual assets.</p>



<h3 class="wp-block-heading" id="h-2-tax-benefits">2. Tax Benefits</h3>



<p>An FLP will come with valuation discounts of between 20% and 40% on limited partnership interests because of their lack of control and marketability. As a result, gift and estate taxes will be reduced significantly. For instance, a $100,000 asset might be valued at $60,000 for tax purposes. This is a smart way to lower your tax burden when transferring wealth.</p>



<h3 class="wp-block-heading" id="h-3-wealth-transfer">3. Wealth Transfer</h3>



<p>In an FLP setup, interests gifted to heirs <a href="https://www.irs.gov/pub/irs-soi/11pwcompench3d07.pdf" target="_blank" rel="noreferrer noopener">reduce the general partners’ taxable estate</a>. As such, families can pass down wealth gradually while keeping estate taxes low. You can strategically leverage <a href="https://www.irs.gov/businesses/small-businesses-self-employed/gift-tax" target="_blank" rel="noreferrer noopener">annual gift tax exclusions</a> for this purpose. This way, you can efficiently shrink your taxable income over time.</p>



<h3 class="wp-block-heading" id="h-4-control-retention">4. Control Retention</h3>



<p>General partners in an FLP setup still retain authority over assets, even after gifting the ownership to family members. They may still make critical decisions on sales, investment, and distribution without any limitations. As such, the family’s financial strategy and vision can remain intact. This kind of arrangement may be a good option for family members who want to give but not cede total control.</p>



<h3 class="wp-block-heading" id="h-5-family-unity">5. Family Unity</h3>



<p>Family members can collaboratively work on shared <a href="https://successcom.wpenginepowered.com/long-term-financial-goals/">financial goals</a> in the environment created by FLPs. Limited partners benefit from the income generated by the same assets managed by general partners. This type of arrangement promotes intergenerational cooperation and communication while keeping families financially connected.</p>



<h2 class="wp-block-heading" id="h-family-limited-partnership-vs-trust-what-s-the-difference">Family Limited Partnership vs. Trust: What’s the Difference?</h2>



<p>A trust is a formal arrangement in which you provide assets to a trustee, who then administers them for your beneficiaries following guidelines you establish.</p>



<p>There are two main types:</p>



<ul class="wp-block-list">
<li><strong>Revocable trust:</strong> You maintain control and are free to alter or terminate it at any moment.</li>



<li><strong>Irrevocable trust:</strong> You cede authority in exchange for improved asset protection and possible estate tax advantages.</li>
</ul>



<p>FLPs and trusts are two essential tools for safeguarding your wealth and ensuring a smooth transition of ownership. However, because they are designed for different tasks, choosing the best one will depend on your goals.</p>



<h3 class="wp-block-heading" id="h-1-control">1. Control</h3>



<p>FLPs are a beneficial option for those who want to maintain control of their wealth. As the general partner, you run the show while your kids (limited partners) get a slice of ownership, but zero say. For trusts, things are different. If you set up an irrevocable trust, the trustee—not you—manages everything based on the rules you set. Revocable trusts give more wiggle room but still offer less control than an FLP.</p>



<h3 class="wp-block-heading" id="h-2-tax-benefits-0">2. Tax Benefits</h3>



<p>FLPs offer nice estate tax discounts thanks to valuation rules (your $100,000 asset might be worth $70,000 on paper). Trusts don’t offer discounts, but they can keep assets out of your estate entirely, hence no estate tax.</p>



<h3 class="wp-block-heading" id="h-3-asset-protection">3. Asset Protection</h3>



<p>FLPs protect family businesses or investment properties. Creditors can’t force a sale. They can, however, issue a charging order to collect a debt. Trusts work better for personal items like your home or savings. Trusts also guard against probate headaches.</p>



<h3 class="wp-block-heading" id="h-4-flexibility">4. Flexibility</h3>



<p>Trusts win this round. They’re easier to set up, can be tailored to your exact wishes, and revocable ones can be changed at any time. With FLPs, however, once that partnership agreement is locked in, it’s more difficult to make changes.</p>



<p>Consider an FLP if you want control and tax perks.&nbsp; A trust might be the right option if you value simplicity and flexibility. You can also use both—one to hold your business, the other to hold your house.</p>



<h2 class="wp-block-heading" id="h-family-limited-partnership-vs-llc-which-is-right-for-you">Family Limited Partnership vs. LLC: Which Is Right for You?</h2>



<p><a href="https://successcom.wpenginepowered.com/how-to-create-an-llc/">A limited liability company (LLC)</a> is a business structure that combines the pass-through taxation of a sole proprietorship or partnership with the limited liability of a corporation. This means that, in the event of insolvency or litigation, your personal assets are protected from creditors since they’re recognized as separate entities.</p>



<p>Let’s take an example of a person trying to pass down the family business or real estate empire. An LLC and an FLP are the two options available. Both aid in succession planning and asset protection, but the nuances are crucial.</p>



<h3 class="wp-block-heading" id="h-1-liability">1. Liability</h3>



<p>In an FLP, general partners (usually the parents) are in control, but they’re also personally liable for debts. In an LLC, all members have limited liability, meaning no one’s coming for your personal bank account if the business tanks.</p>



<h3 class="wp-block-heading" id="h-2-control">2. Control</h3>



<p>In an FLP setup, general partners control everything; limited partners (like the kids) just wait for their inheritance. In an LLC, power is more evenly split based on ownership.</p>



<h3 class="wp-block-heading" id="h-3-taxes-and-estate-planning">3. Taxes and Estate Planning</h3>



<p>If you want estate tax perks, an FLP might be the right option. It’s designed to transfer wealth with less IRS involvement. LLCs don’t offer as much on the tax savings front, but they’re stronger at keeping creditors at bay.</p>



<p>Some people combine both—an LLC as the general partner of an FLP. This approach provides estate tax benefits and asset protection.</p>



<h2 class="wp-block-heading" id="h-how-to-get-started-with-a-family-limited-partnership">How to Get Started With a Family Limited Partnership</h2>



<p>Here’s a step-by-step guide to help you set up your FLP correctly—from defining your goals to ensuring ongoing compliance.</p>



<h3 class="wp-block-heading" id="h-1-define-your-flp-objectives">1. Define Your FLP Objectives</h3>



<p>Why are you doing this? Do you want to pass wealth to your kids without paying high taxes? Or maybe you’re pooling family cash for investments and want to keep liabilities at bay. Think about and write down your goals.</p>



<h3 class="wp-block-heading" id="h-2-register-your-flp-with-the-state">2. Register Your FLP With the State</h3>



<p>Submit a Certificate of Limited Partnership to your state’s Secretary of State. Most states offer online forms that ask for information such as the FLP’s name, address, general partners, and registered agent. It’s straightforward, but make sure you don’t skip it.</p>



<h3 class="wp-block-heading" id="h-3-draft-the-flp-agreement">3. Draft the FLP agreement</h3>



<p>A partnership agreement spells out who owns what, how profits get split, and what happens if someone leaves. It’s like a family rulebook that helps keep everything in check. Get it in writing, even if it’s just you and your trusted sibling.</p>



<h3 class="wp-block-heading" id="h-4-fund-the-flp-with-assets">4. Fund the FLP With Assets</h3>



<p>You must put assets in the FLP, like property, stocks, or business stakes. Once they’re in, they belong to the partnership.. Talk to a tax professional to avoid surprise tax bills when doing this.</p>



<h3 class="wp-block-heading" id="h-5-get-an-ein">5. Get an EIN</h3>



<p>Think of an employer identification number (EIN) as your FLP’s Social Security number. It’s free from the <a href="https://www.irs.gov/businesses/small-businesses-self-employed/get-an-employer-identification-number" target="_blank" rel="noreferrer noopener">IRS website</a> and only takes a few minutes to request. You’ll need it for bank accounts and taxes, so don’t skip this step.</p>



<h3 class="wp-block-heading" id="h-6-stay-on-top-of-compliance">6. Stay on Top of Compliance</h3>



<p>Once your FLP’s registered, keep it legal. File annual reports, renew your registered agent, and check for state taxes (like franchise fees). It’s helpful to involve a <a href="https://successcom.wpenginepowered.com/how-to-find-the-right-accountant-for-you/">CPA</a> when it comes to compliance.&nbsp;</p>



<h3 class="wp-block-heading" id="h-7-taxes-and-record-keeping">7. Taxes and Record-Keeping</h3>



<p>FLPs are pass-through, so profits hit your personal taxes. However, you still need to file a <a href="https://www.irs.gov/forms-pubs/about-form-1065" target="_blank" rel="noreferrer noopener">Form 1065 with the IRS</a>. Taxes can be challenging, so it’s best to hire a professional for this aspect.</p>



<h2 class="wp-block-heading" id="h-disadvantages-of-a-family-limited-partnership">Disadvantages of a Family Limited Partnership</h2>



<p>FLPs aren’t flawless. They come with several drawbacks that you should be aware of. Here are some of them:</p>



<ul class="wp-block-list">
<li><strong>Potential IRS scrutiny:</strong> The IRS frequently audits FLPs, particularly when they involve personal-use assets or lack a clear business purpose.</li>



<li><strong>Associated costs:</strong> An FLP often entails legal fees and recurring accounting, which can quickly add up to thousands of dollars each year.</li>



<li><strong>Restrictions on ownership changes:</strong> Liquidity is limited since limited partners aren’t allowed to transfer or sell interests.</li>



<li><strong>Family conflicts:</strong> Not being on the same page over profits or asset control can lead to family tensions. It can even give rise to strained relationships in extreme cases.</li>



<li><strong>Complex setup and management:</strong> FLPs require detailed agreements, state registrations, ongoing tax returns, professional appraisals, and careful tax compliance. All of these can be stressful.</li>
</ul>



<h2 class="wp-block-heading" id="h-is-a-family-limited-partnership-right-for-you">Is a Family Limited Partnership Right for You?</h2>



<p>An FLP might be right for you if you come from a high-net-worth family with a variety of assets such as real estate, investments, or businesses. It can provide asset protection, some tax benefits, and smoothen wealth transfer. This is especially ideal when it comes to estate planning.</p>



<p>However, an FLP might not be ideal for everyone. It’s important to consider that they come with potential IRS scrutiny and unforeseen costs. They can also be tricky to manage due to the complex structure. If you value simplicity, a trust might be a better option. Also, an LLC might be the best option if active businesses are your primary asset.&nbsp;</p>



<p>There are plenty of choices when it comes to safeguarding your wealth. Consider the pros, cons, and different options and decide if a family limited partnership is right for you.</p>



<p class="has-small-font-size"><em>Photo by fizkes/Shutterstock.</em></p>

Brian Abuga

Learn how a Family Limited Partnership (FLP) works, including its ownership structure and key estate planning advantages.

Learn how a Family Limited Partnership (FLP) works, including its ownership structure and key estate planning advantages. | SUCCESS

What Is a Family Limited Partnership? Understanding Ownership Structure &amp; Estate Planning Benefits

What Is a Family Limited Partnership & How Does It Work? | SUCCESS

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Professional Growth

Professional Growth Archives

Professional Growth | SUCCESS | What Achievers Read

<p>If the thought of getting in front of a camera and filming a video fills you with terror, you’re not alone. But the process of making a video doesn’t have to be scary—and, in fact, video might just be the key to your success.</p>



<p>That’s the philosophy of <a href="https://www.youtube.com/user/kmurphy237" target="_blank" rel="noreferrer noopener">Keri Murphy</a>, an international speaker, media expert and business mentor. Through her company, <a href="https://inspiredliving.tv/" target="_blank" rel="noreferrer noopener">Inspired Living</a>, Murphy helps entrepreneurs get comfortable being on camera—and, just as importantly, she teaches them how to leverage the power of video to <a href="https://successcom.wpenginepowered.com/how-to-build-a-brand/">grow their brands</a>.</p>



<p>“If you have a product or service and you are trying to find clients online, you have to be using video,” she says. Adding that if you don't use video, “You’re going to become obsolete. This is the way of the world.… It’s vital.”</p>







<h2 class="wp-block-heading" id="h-murphy-s-on-camera-roots">Murphy’s On-Camera Roots</h2>



<p>As a little girl growing up in Portland, Oregon, Murphy always wanted to be in front of the camera. After lots of begging, her mother agreed to sign her up for local modeling and acting classes when she was 11. Murphy spent her teens doing commercials and independent films, with a goal of someday becoming a supermodel or Mary Hart on <em>Entertainment Tonight,</em> she says.</p>



<p>In her 20s, she launched an interior design business, then bought and grew a talent agency. But even as she branched out into <a href="https://successcom.wpenginepowered.com/navigating-the-entrepreneur-roller-coaster/">entrepreneurship</a>, she never forgot her video roots. “I was still on camera all the time, promoting my business and doing lifestyle segments with the local morning show,” she says. “I was in New York doing fashion week segments.”</p>



<p>Then, the 2008 recession hit, and Murphy lost everything. It was devastating, but the experience taught her an important lesson—one that she still carries with her today. “The business is an extension of me, but it’s not all that I am,” she says.</p>



<p>Murphy moved to Los Angeles to work in television hosting, but after a few years, she felt unfulfilled. She remembers feeling called to do something big with her life, but at the time, she didn’t yet know what that was. After a period of <a href="https://successcom.wpenginepowered.com/what-is-personal-development/">personal development</a>, traveling and soul-searching, she realized she wanted to help people get more comfortable expressing themselves.</p>



<h2 class="wp-block-heading" id="h-building-online-communities-and-movements">Building Online Communities and Movements</h2>



<p>With that goal in mind, she launched Inspired Living in 2011. Since then, she’s interviewed hundreds of celebrities and successful entrepreneurs on ILTV, the company’s media channel. In addition, Murphy teaches entrepreneurs how to use video to reach new clients and grow their businesses.</p>



<p>She offers programs for entrepreneurs who are at various stages in their video journey, but one of the most popular is an immersive, two-day training and video shoot in Los Angeles. Participants hone their messages, work on their body language and practice being in front of the camera. Then, Murphy brings in celebrity hair and makeup artists, brand photographers and other experts for a video shoot. Participants go home with videos they can use on their websites, in email newsletters, on social media and wherever else they want to make an impact.</p>



<p>Murphy works with a wide array of individuals, from fitness trainers and plastic surgeons to executive coaches and real estate agents. To succeed in their businesses, entrepreneurs must first establish themselves as a trusted resource and an authority in their field, says Murphy. They must also create an emotional connection with their ideal clients. Video is the best way to achieve both of those goals, no matter what industry they’re in.</p>



<p>Some of her clients are using video as an advertising and marketing tool, but most want to master the medium so they can build online communities and movements. They’re developing online courses and building out YouTube channels but also growing their audiences so they can achieve even bigger dreams, like writing books, securing speaking engagements, starting product lines or establishing brand partnerships.</p>



<p>“Everything really depends on your audience right now,” Murphy says. “It’s not like back in the day when networks would come scout someone and develop you. If you do have big dreams of writing a book or speaking on big stages or whatever it may be, now you need to come packaged and ready.”</p>



<h2 class="wp-block-heading" id="h-overcoming-fears-around-video">Overcoming Fears Around Video</h2>



<p>Many entrepreneurs—especially women—come to Murphy with a lot of nerves and anxiety around being on camera. But she helps them overcome those fears by reminding them that how they look is not nearly as important as what they’re saying and how they’re saying it. Confidence and credibility are key. “Video is not about you,” she says. “You’re just a conduit to a message.… Overall, if you show up as a credible source with a solution, I really don’t care what you look like.”</p>



<p>She also encourages entrepreneurs to act as if they’re only talking to one person—their ideal client—rather than every single person on the internet. And, in Murphy’s training sessions and video shoots, everything is unscripted because, she says, “You can’t be in your head and your heart at the same time, and video is all from your heart.”</p>



<p>Above all else, Murphy advises entrepreneurs to focus on what sets them apart from everyone else and <a href="https://successcom.wpenginepowered.com/what-is-personal-development/">refine their messaging</a> accordingly. Then, she encourages them to dive right in to the wonderful world of video. “Embrace the fact that you know enough, that you have something valuable to share,” she says. “The more you let fear stand in the way of you showing up, the harder it’s going to be.”&nbsp;</p>



<h2 class="wp-block-heading" id="h-tips-for-mastering-video">Tips for Mastering Video</h2>



<h3 class="wp-block-heading" id="h-start-now">Start Now</h3>



<p>Many entrepreneurs think they need to be ready to take a big step forward or try something new, like video. But, as Murphy likes to say: “Ready is a decision, not a destination.” Stop thinking and start doing, she recommends.</p>



<h3 class="wp-block-heading" id="h-skip-the-trends">Skip the Trends</h3>



<p>You might be tempted to record and post a video that follows the latest silly TikTok trend. But Murphy says your time is better spent producing videos that share consistent messaging over time. “Good content never dies,” she says. “Stop chasing trends and start making great content.”</p>



<h3 class="wp-block-heading" id="h-pick-one-platform">Pick One Platform</h3>



<p>Between LinkedIn, YouTube, TikTok, Instagram, Facebook and more, too many entrepreneurs get caught up in questions around which platforms they should be using. Just choose one—the one your ideal clients are using—and don’t worry about the rest, Murphy says. “Your ideal client is not on every platform, and not every platform needs you on it,” she says.</p>



<p class="has-small-font-size"><em>This article originally appeared in the September/October 2025 </em><a href="https://successcom.wpenginepowered.com/magazine/"><em>issue of SUCCESS magazine</em></a><em>. Photo courtesy of Keri Murphy.&nbsp;</em></p>

Sarah Kuta

Through her company, Inspired Living, Keri Murphy teaches entrepreneurs how to leverage the power of video to grow their brands.

Through her company, Inspired Living, Keri Murphy teaches entrepreneurs how to leverage the power of video to grow their brands. | SUCCESS

Why Entrepreneurs Should Master the Art of Video

Why Entrepreneurs Should Master the Art of Video | SUCCESS

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A group of young entrepreneurs shares ideas at a table

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<p>Entrepreneurship runs deep in <a href="https://www.linkedin.com/in/feleciahatcher" target="_blank" rel="noreferrer noopener">Felecia Hatcher’s</a> family history—from her Jamaican grandfather’s sugar and yam farm to her father’s roots in construction and development.&nbsp;Following suit in her personal business dreams, she co-founded ventures in food and tech to provide vegan-friendly desserts and educational experiences that included social impact.&nbsp;</p>



<p>Today, she carries her family legacy forward as CEO of Black Ambition, where she empowers and inspires up-and-coming Black creators and entrepreneurs to do the same.</p>







<h2 class="wp-block-heading" id="h-lighting-the-path-nbsp">Lighting the path&nbsp;</h2>



<p>Hatcher's first foray into entrepreneurship, which she engaged in while she was in college, began with an educational consulting company that helped adolescents enroll in college and secure tuition funding. Then, after leaving college to <a href="https://successcom.wpenginepowered.com/navigating-the-entrepreneur-roller-coaster/">pursue entrepreneurship</a> full-time, she led product launches and social media campaigns for major brands like Nintendo, Sony, Microsoft, Walgreens and more.&nbsp;</p>



<p>However, she soon faced a setback that almost crushed her spirit as a budding entrepreneur. “My very first business had a lot of really bumpy roads, including an employee [who] stole my biggest contract from me,” Hatcher says. “I had sworn off ever, ever, ever being an entrepreneur again in my entire life.”</p>



<p>Yet <a href="https://successcom.wpenginepowered.com/how-to-build-resilience/">resilience</a> won out. She soon reignited her <a href="https://successcom.wpenginepowered.com/characteristics-of-successful-entrepreneurs/">entrepreneurial spirit</a> and was inspired to launch a gourmet popsicle manufacturing company with her husband. Thanks to her strong background in brand management marketing, she knew how to get vegan popsicles onto the market for events and private-label production.&nbsp;</p>



<p>After building a <em>Fortune</em> 500 client list that expanded her business and venture capital backing, Hatcher and her husband opened their brick-and-mortar shop and committed to operating under sustainable practices. They also founded a youth entrepreneurship program where they coached kids in the community on entrepreneurship and tech.</p>



<h2 class="wp-block-heading" id="h-spearheading-innovation">Spearheading innovation</h2>



<p>Later, she and her husband started their nonprofit organization, Code Fever, now known as the Center for Black Innovation.&nbsp;Driven by her passion to promote and create spaces for Black innovation, Hatcher also co-founded Black Tech Week. </p>



<p>Her efforts to create accessible learning spaces for Black communities and contribute to STEM were recognized when she was named a 2014 Obama White House Champion of Change for STEM access and diversity. Her work has also been acknowledged by Harvard University and various business publications, and she’s received numerous awards for championing change.&nbsp;</p>



<p>After all this, she caught the attention of Pharrell Williams, whose team invited her to join the Black Ambition Opportunity Fund as CEO. But at the time, Hatcher says, the project was still in development. “It did not have a CEO prior to that, and it was initially just a dream that [Williams] had of wanting to close the wealth and opportunity gap for diverse entrepreneurs and then go build and scale the [business],” she explains.&nbsp;</p>



<p>Still, the opportunity was one she couldn’t pass up. “That's where we first started—wanting to make sure that entrepreneurs that need the support [and] resources to grow and scale significantly had exactly what they needed, when they needed [it] and how they needed it,” she says. “And that was really Pharrell’s vision around that… really being able to create uninterrupted pathways to entrepreneurship and through entrepreneurship.”</p>



<h2 class="wp-block-heading" id="h-pioneering-movements">Pioneering movements</h2>



<p>Today, Black Ambition is a vibrant virtual platform, and its reach extends beyond North America to countries in Africa, South America and Europe. It also offers an annual competition that attracts thousands of applications. Out of the entries, anywhere from 150–250 semifinalists are selected and offered a three-month mentorship program, along with capital and <a href="https://successcom.wpenginepowered.com/how-to-network-101/">networking</a> connections. This hands-on approach allows Black Ambition to foster diverse, uninterrupted pathways for young entrepreneurs.&nbsp;</p>



<p>After investing in the contestants’ companies, Hatcher says, the foundation works closely with the finalists for six to eight months, laying the groundwork for what their businesses truly need to thrive.&nbsp;</p>



<p>“Oftentimes, my team asks them, ‘What's your Christmas list of three to five things that will really drastically scale [your] company?’” Hatcher says. “And then it's my team’s [job] to help them get to those.... [We also help] them get world-class contacts that will drastically grow and scale their company.”</p>



<p>According to Hatcher, the organization’s mission is to help young Black entrepreneurs maximize their potential. “We want the budget to match their imagination [so that] there is nothing that stands in the way of their greatness,” she says. “Because not only are they going to be amazing entrepreneurs, but they are going to figure out some world-bending, world-changing way to be radically impactful back to their communities.”&nbsp;</p>



<h2 class="wp-block-heading" id="h-leaving-a-mark-nbsp">Leaving a mark&nbsp;</h2>



<p>Hatcher hopes to leave her <a href="https://successcom.wpenginepowered.com/building-a-lasting-legacy/">legacy</a> through the people and communities she’s helped grow. By dedicating her work and energy toward spreading positivity, she aims to make a meaningful impact through entrepreneurship. </p>



<p>“I hope to live to 100,” she says. “If I look back and I can say, ‘Job well done around that,’ that means [I’ve had] the impact that I want to have on the world.”</p>



<p class="has-small-font-size"><strong><em>Photo by GaudiLab/Shutterstock.com</em></strong></p>

Rena Machani

Learn how Felecia Hatcher of Black Ambition is using her position to help aspiring young entrepreneurs grow their businesses—and give back.

Learn how Felecia Hatcher of Black Ambition is using her position to help aspiring young entrepreneurs grow their businesses—and give back. | SUCCESS

Fueling Future Generations With the Power of Entrepreneurship

Fueling the Next Generation of Entrepreneurs | SUCCESS

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An entrepreneur considers sustainable practices for her business

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Entrepreneurship

Entrepreneurship Archives

Entrepreneurship | SUCCESS | What Achievers Read

<p>In an era and culture where consumers and employees increasingly prioritize environmental and social responsibility, <a href="https://successcom.wpenginepowered.com/sustainability-in-business/">businesses that practice sustainability</a> stand out in the market. With environmental concerns reaching critical levels, companies integrating sustainable business practices contribute to global well-being while setting themselves up for lasting growth.&nbsp;</p>



<p>The future of business is green, and those who embrace sustainable business practices now will stay ahead of the curve.</p>







<h2 class="wp-block-heading" id="h-understanding-sustainability-in-business">Understanding Sustainability in Business</h2>



<p>In the business world, sustainability refers to practices that reduce a company’s negative impact on the environment and people without compromising the company’s ability to succeed, laying the foundation for a more profitable future. The three main pillars of sustainability in business practices are environmental, social and economic.</p>



<ul class="wp-block-list">
<li><strong>Environmental sustainability</strong> focuses on reducing environmental impact. This can be achieved through measures like energy conservation, waste reduction and the responsible use of natural resources. <a href="https://successcom.wpenginepowered.com/6-green-employee-benefits-companies-can-offer/">Environmentally friendly businesses</a> often focus on lowering their carbon footprint, using renewable energy and adopting practices that contribute to the circular economy business model, where products and resources are reused, recycled or repurposed rather than thrown away.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Social sustainability</strong> challenges businesses to change their practices in ways that ultimately <a href="https://successcom.wpenginepowered.com/building-a-better-business-amy-somerville/">benefit society</a>. This includes promoting ethical practices, offering fair wages and working conditions, supporting local communities and respecting human rights. Embracing social sustainability positively impacts the people businesses work with and the communities they serve.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Economic sustainability</strong> allows a business to remain profitable while being mindful of its environmental and social influence. Companies that practice sustainability often find that efforts to reduce waste, increase energy efficiency and invest in sustainable technology help them cut costs and boost long-term profitability. Similarly, social sustainability often positively affects employee productivity and customer satisfaction. A balance between economic success and responsible practices is a hallmark of sustainable business models.</li>
</ul>



<h2 class="wp-block-heading" id="h-benefits-of-sustainable-business-practices">Benefits of Sustainable Business Practices</h2>



<p>Adopting business sustainability practices can offer some big perks, not just for the environment, but for the company’s bottom line. Below are some key benefits.</p>



<h3 class="wp-block-heading" id="h-cost-savings-through-energy-efficiency-and-waste-reduction">Cost Savings Through Energy Efficiency and Waste Reduction</h3>



<p>Sustainable business practices reduce costs in the long run. Embracing energy-efficient technologies like solar panels, LED lighting and energy-efficient HVAC systems can significantly reduce energy consumption and bills.&nbsp;</p>



<p>Additionally, waste reduction practices like recycling programs can lower disposal costs and improve resource efficiency. Although there’s often an upfront cost to investing in energy efficiency and implementing waste reduction programs, the ROI over time can be significant.&nbsp;</p>



<h3 class="wp-block-heading" id="h-improved-brand-reputation-and-customer-loyalty-nbsp">Improved Brand Reputation and Customer Loyalty&nbsp;</h3>



<p>Consumers care about the environmental impact of their purchases and increasingly choose to support green entrepreneurship. According to <a href="https://theroundup.org/environmentally-conscious-consumer-statistics/" target="_blank" rel="noreferrer noopener">recent data</a>, 78% of consumers value sustainability, and 55% opt to pay more for eco-friendly brands. Similarly, 84% of consumers would think twice about doing business with a company with subpar environmental practices. </p>



<p>Businesses that integrate sustainable business practices into their operations can tap into this growing market of environmentally conscious consumers. This improved brand reputation can lead to increased customer loyalty, repeat business and a larger market share.</p>



<h3 class="wp-block-heading" id="h-regulatory-compliance-and-risk-management">Regulatory Compliance and Risk Management</h3>



<p>Every year, new and more stringent regulations related to climate change, waste management and environmental protection are implemented at local, state, national and global levels. Companies that stay ahead of the curve in terms of sustainability practices are better prepared to comply with these regulations and avoid costly fines or legal issues.&nbsp;</p>



<p>Additionally, businesses that take proactive steps toward sustainability are better equipped to manage risks related to environmental factors, including supply chain disruptions caused by natural disasters or resource shortages.</p>



<h2 class="wp-block-heading" id="h-actionable-strategies-for-entrepreneurs">Actionable Strategies for Entrepreneurs</h2>



<p>For entrepreneurs looking to integrate sustainable business practices into their operations, here are some actionable strategies to employ:</p>



<ul class="wp-block-list">
<li><strong>Eco-friendly operations</strong>: Simple practices like reducing waste, conserving energy and implementing recycling programs can go a long way. For instance, businesses that encourage employees to reduce paper waste and invest in energy-efficient appliances and machinery can reduce their environmental impact. Implementing green technology in business can also help streamline processes while reducing costs.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Sustainable supply chains</strong>: Partnering with ethical suppliers and using sustainable materials is critical for building a truly sustainable business. For example, businesses can work with suppliers who use recycled materials, follow fair labor practices and use energy-efficient production processes. By sourcing responsibly, businesses not only minimize their environmental footprint but also support their communities and economies.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Renewable energy adoption</strong>: Another strategy is switching to renewable energy sources such as solar or wind power. Businesses that power their operations with renewable energy reduce their reliance on fossil fuels and lower their carbon footprint. In some regions, switching to green energy can also offer tax incentives and government subsidies, further incentivizing renewable energy solutions.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Green product innovation</strong>: Developing eco-conscious products or services is another way to build a sustainable business model. Whether using biodegradable materials or designing easily recyclable products, businesses can create offerings that align with consumer demand for sustainability. A technology company like <a href="https://www.lenovo.com/us/en/sustainability-recycled-content/" target="_blank" rel="noreferrer noopener">Lenovo</a>, for example, offers hundreds of products made with post-consumer recycled materials, demonstrating its commitment to the environment. </li>
</ul>



<ul class="wp-block-list">
<li><strong>Corporate social responsibility (CSR)</strong>: Businesses that engage in ethical business practices and invest in their communities can strengthen their social sustainability. This might include initiatives such as sponsoring environmental campaigns, supporting local social programs or investing in the welfare of workers. By embracing CSR, business owners enhance their brand’s reputation and leave a positive mark on the world around them.</li>
</ul>



<h2 class="wp-block-heading" id="h-challenges-and-solutions">Challenges and Solutions</h2>



<p>While the benefits of sustainability in business are clear, many entrepreneurs face challenges when trying to implement these changes. Below are some common barriers and solutions.</p>



<h3 class="wp-block-heading" id="h-upfront-costs">Upfront Costs</h3>



<p>One of the most significant challenges for businesses is the initial investment required to implement sustainable practices. The good news is that many businesses find that the long-term savings from energy efficiency, waste reduction and sustainable sourcing far outweigh the upfront costs. Additionally, government incentives and subsidies can offset some of these expenses, making sustainability more affordable in the long run.</p>



<h3 class="wp-block-heading" id="h-lack-of-awareness">Lack of Awareness</h3>



<p>Some entrepreneurs may not fully understand how to build a sustainable business or be unaware of the resources available to help them. Seeking education and training on sustainability, leveraging tools such as sustainability reporting frameworks and joining industry groups focused on sustainability can help entrepreneurs overcome this barrier.</p>



<h3 class="wp-block-heading" id="h-scalability-issues-nbsp">Scalability Issues&nbsp;</h3>



<p>As businesses grow, maintaining sustainability practices in business can become more complex. To address scalability challenges, businesses should start by setting clear, measurable sustainability goals and focusing on gradual improvements. Companies can scale their efforts by establishing long-term sustainability objectives and incorporating green entrepreneurship principles into their business strategy.</p>



<h2 class="wp-block-heading" id="h-measuring-and-tracking-progress">Measuring and Tracking Progress</h2>



<p>The best way to stick to and reach sustainability goals is to continuously measure progress. Businesses can achieve this with the following strategies:</p>



<ul class="wp-block-list">
<li><strong>Using sustainability KPIs</strong>: Key performance indicators (KPIs) such as carbon footprint, energy consumption, waste reduction and ESG reporting are essential for tracking the effectiveness of sustainability initiatives. By regularly evaluating these KPIs, businesses can adjust their strategies to improve performance and align with long-term standards.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Leveraging technology for sustainable business tracking</strong>: Various tools are available to help businesses track their performance. Software solutions and data analytics platforms can provide real-time insights into resource usage, waste generation and energy consumption. These technologies enable businesses to identify areas for improvement and implement more efficient practices.</li>
</ul>



<ul class="wp-block-list">
<li><strong>Continuous improvement</strong>: Sustainability is an ongoing process, and businesses should constantly seek opportunities to enhance their practices. By staying updated with the latest trends and tools, businesses with sustainable practices can identify new innovations that help reduce their environmental footprint.</li>
</ul>



<h2 class="wp-block-heading" id="h-take-a-step-toward-sustainability">Take a Step Toward Sustainability</h2>



<p>Entrepreneurs can make significant strides toward building a more sustainable future by starting with small, actionable steps and continually measuring progress. Whether through green product innovation, adopting a circular economy business model or leveraging renewable energy adoption, businesses have countless opportunities to create positive change. Take the first step toward sustainability now, and your future business will thank you for it later.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by Dragon Images/Shutterstock.</em></p>

Brett Hanley

Discover how sustainable business practices like eco-friendly operations, ethical sourcing and green innovation can boost growth, cut costs and better your brand.

Discover how sustainable business practices like eco-friendly operations, ethical sourcing and green innovation can boost growth, cut costs and better your brand. | SUCCESS

Sustainable Business Practices for Entrepreneurs

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A financial planner meets with a client to discuss their financial goals

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<p>Managing your personal finances well takes time and energy—sometimes more than we can spare. Sure, we can create a <a href="https://successcom.wpenginepowered.com/financial-planning-checklist/">financial planning checklist</a> or learn the basics of investing, but sometimes getting into the weeds is too much of a time-sink. So, how can you make the most of your finances if you’re in a knowledge or time rut?&nbsp;</p>



<p>Hiring a financial advisor is a prudent way to have an expert look over your financial situation and make recommendations, balance your stock portfolio or simply guide your financial actions towards better decisions.&nbsp;</p>



<p>If you’re thinking of hiring a financial advisor, understanding their role is the first step in deciding to work with one. We’ll detail what a personal financial advisor does, questions to ask, how to pick one and much more below.</p>







<h2 class="wp-block-heading" id="h-what-is-a-financial-advisor">What Is a Financial Advisor?</h2>



<p>A financial advisor is a professional who is trained to help individuals, families and/or businesses make the best financial choices they can given their situation. This typically means offering advice on investments, mortgages, financial planning, risk tolerance levels and big financial decisions.&nbsp;</p>



<p>A financial advisor also recommends certain investments based on your life goals, familial (e.g. married, single) and financial situations. They can also help with estate planning and budgeting. In short, a financial planner is a financial educator, guide and accountability partner.&nbsp;</p>



<p>Although the term financial advisor may sound like a catch-all phrase, some specialize in different areas such as financial risk management or retirement strategies. Financial advisors typically work with businesses, individuals and families and may have asset requirements for you to work with them.&nbsp;</p>



<h3 class="wp-block-heading" id="h-financial-advisor-vs-financial-planner-what-s-the-difference">Financial Advisor vs. Financial Planner: What’s the Difference?</h3>



<p>All financial planners are financial advisors, but not all financial advisors are financial planners.&nbsp;</p>



<p>A financial advisor is someone who, broadly speaking, helps you manage your money. This is done by buying and selling investments for you, offering advice on your financial health or creating estate or tax plans. Someone can only be called a financial advisor if they have passed the Series 65 Exam administered by <a href="https://www.finra.org/registration-exams-ce/qualification-exams/series65" target="_blank" rel="noreferrer noopener">FINRA</a>. Though a financial advisor is a broad role, individual advisors may come from different backgrounds or have different specialties, such as insurance or mortgage advice. </p>



<p>A financial planner, however, is someone who helps consumers and businesses create and follow through on financial strategies to help them accomplish their goals. These could be goals focused on saving, education, retirement, or tax planning, among others. It’s important to note that FINRA states that almost anyone can call themselves a financial planner, and they come from a variety of backgrounds. That said, a common designation to watch out for is the Certified Financial Planner (CFP) marker. Someone with this designation has passed the CFP Exam and meets other rigorous qualifications.&nbsp;</p>



<p>When choosing between the two, keep in mind that there are instances where a financial planner or a financial advisor would be the better hire. Generally, if you need assistance with creating financial goals and coming up with a financial plan, use a financial planner. If you want advice on investments, to have someone manage your portfolio or to advise you on insurance or mortgage decisions and the like, a financial advisor may be a better fit.&nbsp;</p>



<h2 class="wp-block-heading" id="h-key-financial-advisor-duties-and-services">Key Financial Advisor Duties and Services</h2>



<p>What can financial advisors do for you? Now that we’ve outlined the role of a financial advisor, let’s review their core responsibilities and duties.&nbsp;</p>



<h3 class="wp-block-heading" id="h-manage-your-investments-nbsp">Manage Your Investments&nbsp;</h3>



<p>A financial advisor can help you manage your investments from start to finish. They will typically ask questions about your risk tolerance level to get an idea of what types of investments (e.g. stocks, bonds, mutual funds) fit your profile. They’ll also compare these investment types to your overall goals to make sure they line up.&nbsp;</p>



<p>Once they’ve created a portfolio for you, they will continually manage it to meet your goals and give you advice during turbulent market periods. An advisor also rebalances your portfolio so you don’t incur too much—or not enough—risk based on your risk profile.&nbsp;</p>



<h3 class="wp-block-heading" id="h-help-minimize-your-tax-liabilities">Help Minimize Your Tax Liabilities</h3>



<p>Because an advisor has a detailed picture of your entire financial life, they can provide tax advice to help you or your business reduce your tax bill. Some advisors may also file your tax returns for you, too. Note that financial advisors who offer tax-related services typically have tax professional designations such as Certified Public Accountant or Enrolled Agent.&nbsp;</p>



<h3 class="wp-block-heading" id="h-provide-retirement-planning-advice-nbsp">Provide Retirement Planning Advice&nbsp;</h3>



<p>By analyzing your income levels, retirement goals, spending patterns, savings and other financial markets, an advisor can help you plan for retirement in a way that suits your needs. They’ll also regularly meet with you to update your retirement plan as your life goes on or if your priorities change.&nbsp;</p>



<h3 class="wp-block-heading" id="h-help-with-estate-planning">Help With Estate Planning</h3>



<p>Usually working with an estate attorney, a financial advisor can help you create an estate plan that fulfills your wishes and takes care of those you love most when you’re gone. In practice, this could mean assisting with the creation of a living trust, preparing payable on death forms for insurance or updating your beneficiaries on your insurance plans.&nbsp;</p>



<h3 class="wp-block-heading" id="h-assist-you-in-paying-off-debt">Assist You in Paying off Debt</h3>



<p>In addition to helping you save or invest, a financial planner can also help you pay off and manage your debt. This is done by creating a debt payment plan and potentially restructuring the debts you currently have. In some cases, they may advise you to start a <a href="https://successcom.wpenginepowered.com/debt-management-plans-and-how-they-work/">debt management plan</a>.&nbsp;</p>



<h3 class="wp-block-heading" id="h-help-create-a-budget">Help Create a Budget</h3>



<p>While you can create a budget on your own, an advisor can help you see patterns in your spending habits, allowing you to focus on reducing unnecessary costs. They’ll also create a budget that matches your overall financial goals and objectives.&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-much-does-a-financial-advisor-cost">How Much Does a Financial Advisor Cost?</h2>



<p>When it comes to <a href="https://successcom.wpenginepowered.com/how-to-choose-a-financial-advisor/">choosing a financial advisor</a>, cost should be one of the factors you take into account. Financial advisors are paid in multiple ways, which can seem confusing at first. Here’s a breakdown of how a financial advisor may charge you and their general costs.&nbsp;</p>



<ul class="wp-block-list">
<li><strong>Assets under management (AUM) fee: </strong>An AUM fee is a percentage of the total value of the investments your advisor manages for you, charged on an annual basis. A typical AUM fee is anywhere from 0.6% to 1.2% and may be higher depending on your situation. For example, if you have $100,000 of investments with an advisor that charges a 1% AUM fee, you would pay $1,000 per year.&nbsp;</li>



<li><strong>Hourly rates: </strong>Advisors may charge an hourly rate of $100 to $400 an hour depending on the type of work required.&nbsp;</li>



<li><strong>Flat fees: </strong>For work that is easier for an advisor to estimate, they may use flat fees to charge clients. For example, an advisor might charge $1,000 for a simple budgeting plan or savings plan. But a comprehensive retirement and estate plan could be closer to $2,400.&nbsp;</li>



<li><strong>Commission-based fees: </strong>Some advisors may not have any fees upfront, but instead earn a commission on the types of products they sell (e.g. insurance, certain mutual funds).&nbsp;</li>
</ul>



<p>It’s important to note that advisors usually operate under two different fee structures: fee-only and fee-based. Fee-only advisors do not charge commissions on any products they recommend as part of their services, but they do charge fees like other ones we noted above.</p>



<p>Fee-based advisors do earn a commission on the investments or products they recommend to you, potentially in addition to other fees such as their AUM or hourly rate.&nbsp;</p>



<h2 class="wp-block-heading" id="h-how-to-find-a-financial-advisor">How to Find a Financial Advisor</h2>



<p>When picking a financial advisor, it’s important you find someone you can trust first and foremost. After all, you don’t talk to just anyone about your finances, especially in great detail.&nbsp;</p>



<p>Finding a trustworthy advisor can be done in many different ways, but asking those around you who have used an advisor is usually a good first step. They can give you insights that online reviews and research sometimes cannot (e.g. how an advisor treats their clients).&nbsp;</p>



<p>You can also easily find an advisor online by searching through various associations, such as:&nbsp;</p>



<ul class="wp-block-list">
<li><a href="https://www.napfa.org/" target="_blank" rel="noreferrer noopener">The National Association of Personal Financial Advisors (NAPFA)&nbsp;</a></li>



<li><a href="https://www.garrettplanningnetwork.com/" target="_blank" rel="noreferrer noopener">Garrett Planning Network</a></li>



<li><a href="https://www.xyplanningnetwork.com/" target="_blank" rel="noreferrer noopener">XY Planning Network</a></li>



<li><a href="https://www.acplanners.org/home" target="_blank" rel="noreferrer noopener">Alliance of Comprehensive Planners (ACP)</a>&nbsp;</li>
</ul>



<p>Once you have an advisor in mind, make sure to check their background, history and any potential disciplinary actions with FINRA’s <a href="https://brokercheck.finra.org/" target="_blank" rel="noreferrer noopener">BrokerCheck</a>. This service can give you a quick peek into a broker’s practice.&nbsp;</p>



<h3 class="wp-block-heading" id="h-fiduciary-vs-non-fiduciary-advisors">Fiduciary vs. non-fiduciary advisors</h3>



<p>When deciding on an advisor to work with, make sure to ask them if they are a fiduciary advisor. A fiduciary is someone who is legally obligated to act in your best interests. While a non-fiduciary advisor may still recommend plans and investments that are a good choice, they are not bound to do so. In some cases, it’s better to go with a fiduciary as trust is baked into the relationship by a legal duty.&nbsp;</p>



<h3 class="wp-block-heading" id="h-questions-to-ask-a-financial-advisor">Questions to Ask a Financial Advisor</h3>



<p>A key part of finding the best financial advisor for your situation is the interview process. Here are some questions you can use to help steer you in the right direction. Remember, trust is critical when hiring anyone who advises you. If you have some reason not to trust a potential advisor before you hire them, that’s a red flag.&nbsp;</p>



<ul class="wp-block-list">
<li>What services do you offer and how can they help me with my financial goals?</li>



<li>How do you charge for your services (fee-only or fee-based)?</li>



<li>Can you provide references or case studies of clients you’ve worked with?</li>



<li>What is your approach to financial planning and how do you make decisions?</li>



<li>Are you a fiduciary?&nbsp;</li>



<li>What are my total costs if I work with you?&nbsp;</li>



<li>What is your educational background?</li>



<li>Do you work with other experts, such as accountants, lawyers, etc.?&nbsp;</li>



<li>How often do you meet with your clients?&nbsp;</li>
</ul>



<h2 class="wp-block-heading" id="h-are-financial-advisors-worth-it">Are Financial Advisors Worth It?</h2>



<p>If you’re wanting to level up your personal finances without doing the research, portfolio rebalancing, financial goal setting and retirement planning on your own, a financial advisor could be a good fit. While financial advisors do come with a cost, having professional guidance for the long term can pay dividends for years to come.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by PeopleImages.com - Yuri A/Shutterstock.</em></p>

What does a financial advisor do, exactly? Learn how a financial advisor can help you make the most of your money and when to hire one.

What does a financial advisor do, exactly? Learn how a financial advisor can help you make the most of your money and when to hire one. | SUCCESS

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Need a little extra income on the side? Check out these 62 low-cost business ideas that you can start today.

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Trends &amp; Insights

Trends &amp; Insights Archives

Trends &amp; Insights | SUCCESS | What Achievers Read

<p>In 2024, <a href="https://explodingtopics.com/blog/number-of-freelancers" target="_blank" rel="noreferrer noopener">76.4 million</a> workers chose freelance careers. I was one of them, and I have to say, the flexibility that comes with freelance work is extremely rewarding. However, finding success in the freelance market isn't always easy. Whether you're just contemplating making the jump from traditional work to freelance work or you've been freelancing for years, one challenge many freelancers face is knowing <a href="https://successcom.wpenginepowered.com/how-to-calculate-freelance-rate/">how to calculate their personal freelance rate</a>.</p>



<p>In this article, we'll discuss how to set freelance hourly rates based on different industries, regions and experience levels.&nbsp;</p>







<h2 class="wp-block-heading" id="h-what-is-the-average-freelance-hourly-rate">What Is the Average Freelance Hourly Rate?</h2>



<p>In 2025, the average freelance hourly rate in the United States is around $48/hour, according to <a href="https://www.ziprecruiter.com/Salaries/Freelance-Salary" target="_blank" rel="noreferrer noopener">ZipRecruiter</a>. Worldwide, that number increases to $101.50, based on information from <a href="https://clockify.me/average-hourly-rates" target="_blank" rel="noreferrer noopener">Clockify</a>. While knowing these average rates is helpful when setting your prices, you also need to understand how other factors affect compensation.&nbsp;</p>



<h2 class="wp-block-heading" id="h-freelance-hourly-rates-by-location">Freelance Hourly Rates by Location</h2>



<p>When determining how much to charge clients, research average rates by country. Geography plays a major role in freelancers’ compensation, according to a <a href="https://pubs.payoneer.com/docs/2023-freelancer-insights-report.pdf" target="_blank" rel="noreferrer noopener">recent report by Payoneer</a>. Check out their 2022 freelance hourly rate findings below:</p>



<ul class="wp-block-list">
<li>North America: $56</li>



<li>Western Europe: $27</li>



<li>South America: $24</li>



<li>Central &amp; Eastern Europe: $23</li>



<li>Africa: $22</li>



<li>Asia Pacific: $20</li>



<li>Central America: $18</li>
</ul>



<h2 class="wp-block-heading" id="h-other-factors-that-can-impact-freelance-rates">Other Factors That Can Impact Freelance Rates</h2>



<p>Freelancers' hourly wages are affected by more than just location. Other factors to consider are age, gender, experience and industry. We’ll discuss each below.</p>



<h3 class="wp-block-heading" id="h-age">Age</h3>



<p>Age can influence a freelancer’s earning potential. While this might be due to experience (i.e., the older you are, the more years you likely have in your chosen field), a combination of confidence and client perception may be at play. Millennials and the Gen Z population represent nearly 70% of the global freelance workforce, per <a href="https://hubstaff.com/time-tracking/average-hourly-rates" target="_blank" rel="noreferrer noopener">Hubstaff</a>. Here's their 2024 breakdown of freelancer earnings by age, which indicates the top earners are between the ages of 55 and 64:</p>



<ul class="wp-block-list">
<li>18–24 years: $16</li>



<li>25–34 years: $19</li>



<li>34–44 years: $24</li>



<li>45–54 years: $27</li>



<li>55–64 years: $36</li>



<li>Over 65: $34</li>
</ul>



<h3 class="wp-block-heading" id="h-gender">Gender</h3>



<p>According to the previously mentioned Payoneer report, women freelancers typically make $22/hour compared to $24/hour for men. The results mean that women, on average, only earn 92 cents for every dollar a man makes. This <a href="https://successcom.wpenginepowered.com/gender-pay-gap/">pay gap</a> is apparent across varied industries and geographic regions. What is encouraging, though, according to the Payoneer report, is that “the gap is slightly smaller than the one reported last year (90 cents to $1).”</p>



<h3 class="wp-block-heading" id="h-experience">Experience</h3>



<p>The more experience you have, the higher you can usually set your freelance hourly rate. For example, a freelancer with 10 years of experience as a web developer can charge more than a freelancer just starting out. However, experience doesn’t have to be measured simply in the number of years. Personally, as a freelance writer, I rely on an extensive portfolio to demonstrate a high level of experience to potential clients.</p>



<h3 class="wp-block-heading" id="h-certifications">Certifications</h3>



<p>Expertise is an investment, not an expense, meaning the time and money you invest in degrees and certifications may enable you to charge more for your services. You can add specialized training and in-demand certifications, like a <a href="https://grow.google/certificates/data-analytics/">Google Analytics certification</a> for marketing professionals, to your resume. This can demonstrate knowledge in specific areas and possibly attract higher-paying clients. Per <a href="https://about.coursera.org/press/wp-content/uploads/2023/05/Learner-Outcomes-Report-2023.pdf" target="_blank" rel="noreferrer noopener">Coursera's 2023 Learner Outcomes Report</a>, “77% of learners say learning on Coursera has helped their careers.” For beginner freelancers, Coursera even offers a five-course <a href="https://www.coursera.org/specializations/freelancing" target="_blank" rel="noreferrer noopener">“Building Your Freelancing Career Specialization</a>” series.</p>



<h3 class="wp-block-heading" id="h-industry">Industry</h3>



<p>Hourly rates for freelance jobs also vary based on the industry. Banking and finance positions often have the highest freelance hourly rates, while admin, customer support and quality assurance often have the lowest (per<a href="https://clockify.me/average-hourly-rates" target="_blank" rel="noreferrer noopener"> Clockify</a>). As a general overview, here's a look at Upwork’s hourly estimates for some of the <a href="https://successcom.wpenginepowered.com/how-to-calculate-freelance-rate/">best freelance jobs</a>.</p>



<ul class="wp-block-list">
<li>Freelance web designer hourly rate: $15–$30/hour</li>



<li>Freelance graphic designer hourly rate: $15–$35/hour</li>



<li>Freelance project manager hourly rate: $19–$45/hour</li>



<li>Freelance hourly rate for photographer: $25–$45/hour</li>



<li>Freelance writer hourly rate: $30–$59/hour</li>



<li>Freelance financial adviser hourly rate: $30–$75/hour</li>



<li>Freelance cybersecurity developer hourly rate: $40–$90/hour</li>



<li>Freelance data analyst hourly rate: $20–50/hour</li>
</ul>



<h2 class="wp-block-heading" id="h-how-to-set-your-own-rates-as-a-freelancer">How to Set Your Own Rates as a Freelancer</h2>



<p><a href="https://successcom.wpenginepowered.com/how-to-build-your-career-as-a-freelancer/">Building your career as a freelancer</a> requires a clear understanding of your value and financial needs. There’s no standard right or wrong answer. Every freelancer is unique. However, here are some tips that can help you determine your rates so you’re paid fairly for your work and expertise.&nbsp;</p>



<h3 class="wp-block-heading" id="h-identify-your-financial-goals">Identify Your Financial Goals</h3>



<p>Ask yourself: How much money do I need to make to support my unique lifestyle? A freelance hourly rate calculator like <a href="https://www.upwork.com/tools/freelance-rate-calculator" target="_blank" rel="noreferrer noopener">Upwork’s</a> is a fantastic tool for determining a base rate. Start with the weekly, monthly or annual amounts you need to live. Then, calculate all expenses, which can include office space, internet, phones and any necessary computer software programs as a freelance business owner. You’ll also want to factor in <a href="https://successcom.wpenginepowered.com/tips-for-freelance-taxes/">freelance taxes</a> and health insurance. Create your rates with solid expense calculations based on your financial goals.&nbsp;</p>



<h3 class="wp-block-heading" id="h-do-market-research">Do Market Research</h3>



<p>Know what others in your field are making. Use platforms like Upwork, Glassdoor and Clockify to gather information about freelance hourly rates in your industry. Set your rates based on this research, but factor in your unique skills, experience and expertise. Rates should be competitive and aligned with industry standards. Keep in mind that freelancers with several years of experience and a strong portfolio of projects can set higher rates than those just starting out.</p>



<h3 class="wp-block-heading" id="h-decide-on-hourly-vs-project-based-pricing">Decide on Hourly vs. Project-Based Pricing</h3>



<p>Do you want to bill hourly or by project? Hourly is ideal for newbies, especially when the scope isn’t clear. You’ll get paid by the hour, which is great. However, as you get quicker at tasks, you may get paid less as completing them will take you less time. Getting paid for the project may be better for more experienced freelancers. You won’t be penalized for working quickly; you’ll simply be paid for the project completed.&nbsp;</p>



<p>Another pricing method—value-based pricing—is an option. Here, you’ll be paid for the value you bring, which can be clearly measured in projects such as marketing campaigns and website conversions. Consider using a combination of pricing options depending on the nature and complexity of each client and assignment.</p>



<h3 class="wp-block-heading" id="h-communicate-with-clients">Communicate With Clients</h3>



<p>Every freelancer needs to understand their clients’ goals and how their projects fit into the company’s bigger picture. This knowledge will help set expectations. Effective communication with clients can also help identify ways to provide more value and possibly even lead to an expansion of your services.</p>



<p>While setting your freelance rates can be tricky, remember that they can always change. Start by factoring in your specific location, years of experience and expertise in the industry. As you grow as a freelancer, so should your rates. &nbsp;</p>



<h2 class="wp-block-heading" id="h-know-your-value-amp-how-to-set-your-freelance-prices">Know Your Value &amp; How to Set Your Freelance Prices</h2>



<p>Each freelancer brings a unique set of skills and experience to their clients. By researching the different freelance hourly rates and the factors that impact them, you can gain a better understanding of typical pricing. However, knowing your value, calculating your budget and expenses, and considering a variety of rate strategies can help you set competitive rates. The result? Get paid fairly and build a flexible career you love.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by Prostock-studio/Shutterstock.</em></p>

Nicole Findlay

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<p>What if success wasn’t about luck or talent, but was simply a positive mindset?</p>



<p>Your perspective—half-empty or half-full—shapes your resilience, motivation and well-being. <a href="https://hsph.harvard.edu/news/optimism-longevity-women/?utm_source=chatgpt.com#:~:text=Of%20the%20participants%2C%20the%2025%25%20who%20were%20the%20most%20optimistic%20were%20likely%20to%20have%20a%205.4%25%20longer%20lifespan%20and%20a%2010%25%20greater%20likelihood%20of%20living%20beyond%2090%20years%20than%20the%2025%25%20who%20were%20the%20least%20optimistic." target="_blank" rel="noreferrer noopener">Research from Harvard</a> suggests that optimism can extend your life by 5.4 percent—proving its profound impact on our well-being.</p>



<p>In this article, we’ll explore the power of positive thinking, how it fuels success and how you can cultivate it. Let’s dive in!</p>



<h2 class="wp-block-heading" id="h-what-is-positive-thinking">What Is Positive Thinking?</h2>



<p>Positive thinking is a mindset that focuses on optimism and solutions rather than problems. It does not guarantee an easy life but helps turn challenges into opportunities by maintaining a hopeful outlook and seeking solutions.</p>



<p>The power of positive thinking stems from strong psychological and emotional foundations.</p>



<p>Psychologist Martin Seligman, known as <a href="https://www.psychologytoday.com/us/blog/beyond-school-walls/202409/practicing-learned-optimism#:~:text=Seligman%2C%20often%20regarded%20as%20the%20father%20of%20positive%20psychology%2C" target="_blank" rel="noreferrer noopener">the “father of positive psychology,”</a> introduced the concept of <a href="https://positivepsychology.com/learned-optimism/" target="_blank" rel="noreferrer noopener">learned optimism</a>. This involves actively challenging negative thoughts and reframing negative events into growth opportunities.</p>







<h2 class="wp-block-heading" id="h-benefits-of-optimism">Benefits of Optimism</h2>



<p>Practicing positive thinking can reduce stress, improve mental health and enhance overall resilience and well-being. Here are some key advantages of positive thinking:</p>



<h3 class="wp-block-heading" id="h-better-physical-health-nbsp">Better Physical Health&nbsp;</h3>



<p>A study from <a href="https://www.hopkinsmedicine.org/health/wellness-and-prevention/the-power-of-positive-thinking#:~:text=People%20with%20a%20family%20history%20of%20heart%20disease%20who%20also%20had%20a%20positive%20outlook%20were%20one%2Dthird%20less%20likely%20to%20have%20a%20heart%20attack%20or%20other%20cardiovascular%20event%20within%20five%20to%2025%20years%20than%20those%20with%20a%20more%20negative%20outlook." target="_blank" rel="noreferrer noopener">Johns Hopkins Medicine</a> found that positive thinking can significantly impact physical health. According to the research, individuals with a positive mindset and a family history of heart disease were one-third less likely to develop heart conditions than negative thinkers.</p>



<h3 class="wp-block-heading" id="h-stress-alleviation">Stress Alleviation</h3>



<p>This <a href="https://pubmed.ncbi.nlm.nih.gov/37395446/" target="_blank" rel="noreferrer noopener">study</a> showed that optimistic individuals tend to have lower cortisol levels, making them more resilient in high-pressure situations. Optimists train themselves to view obstacles as temporary and solvable, allowing them to stay calm and focused instead of overwhelmed.</p>



<h3 class="wp-block-heading" id="h-improved-mental-health">Improved Mental Health</h3>



<p>A study published in <a href="https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2024.1403146/full" target="_blank" rel="noreferrer noopener">Frontiers in Psychology</a> examined the relationship between optimism and mental health. According to the study, higher optimism levels were associated with better sleep quality, lower stress and improved mental health conditions. When individuals who have cultivated a positive mindset encounter challenges, their brains release dopamine, serotonin and endorphins, which regulate mood and promote a sense of calmness. As a result, they experience less anxiety and depression and enjoy better mental well-being.</p>



<h3 class="wp-block-heading" id="h-enhanced-relationships">Enhanced Relationships</h3>



<p>Positive thinkers tend to communicate more effectively, which solves many common relationship problems. <a href="https://link.springer.com/article/10.1007/s12144-022-03931-0?" target="_blank" rel="noreferrer noopener">A study</a> published in Current Psychology found that higher levels of optimism were associated with better relationship quality.&nbsp; Couples who express positivity and gratitude experience more fulfilling relationships than those who focus on negativity.&nbsp;</p>



<h2 class="wp-block-heading" id="h-the-role-of-optimism-in-success">The Role of Optimism in Success</h2>



<p>Optimism plays a huge role in personal and professional success. Here’s how:</p>



<h3 class="wp-block-heading" id="h-1-better-decision-making">1. Better Decision-Making</h3>



<p>When making crucial decisions, there are always risks involved. A positive mindset helps you focus on solutions rather than being overwhelmed by potential failures. Optimistic individuals:</p>



<ul class="wp-block-list">
<li>Spot opportunities instead of fixating on obstacles.</li>



<li>Have higher self-confidence, allowing them to trust their judgment.</li>



<li>Remain calm and clear-headed, leading to better decision-making.</li>
</ul>



<h3 class="wp-block-heading" id="h-2-strong-problem-solving-skills">2. <strong>Strong Problem-Solving Skills</strong></h3>



<p>A positive outlook encourages <a href="https://www.mdpi.com/2673-9585/2/3/26?#:~:text=One%20theory%20that,and%20intellectual%20resources." target="_blank" rel="noreferrer noopener">creativity</a> and <a href="https://pubmed.ncbi.nlm.nih.gov/36859479/#:~:text=The%20study%27s%20findings%20showed%20the%20effectiveness%20of%20the%20positive%20thinking%20training%20approach%20in%20improving%20resilience" target="_blank" rel="noreferrer noopener">resilience</a>, ensuring you find solutions instead of feeling stuck. Positive thinkers:</p>



<ul class="wp-block-list">
<li>Stay open-minded, considering multiple solutions instead of fixating on one.</li>



<li>View setbacks as learning experiences, rather than failures.</li>



<li>Remain persistent, seeing problems as challenges to overcome rather than dead ends.</li>
</ul>



<h3 class="wp-block-heading" id="h-3-goal-achievement">3. <strong>Goal Achievement</strong></h3>



<p>A positive mindset provides the focus and motivation to achieve short-term and long-term goals. Optimism fuels:</p>



<ul class="wp-block-list">
<li>Sustained motivation, helping you push forward even when progress is slow.</li>



<li>Proactivity, encouraging you to take small, consistent steps toward your goals.</li>
</ul>



<h2 class="wp-block-heading" id="h-inspirational-real-life-examples">Inspirational Real-Life Examples</h2>



<p>Many successful individuals have leveraged the power of positive thinking to overcome challenges. Here are a few examples:</p>



<ul class="wp-block-list">
<li>Oprah Winfrey overcame childhood abuse and discrimination to become one of the most <a href="https://www.investopedia.com/articles/insights/072816/how-did-oprah-winfrey-get-rich.asp" target="_blank" rel="noreferrer noopener">influential women</a> in the world. She often emphasized the <a href="https://successcom.wpenginepowered.com/the-power-of-visualization/">power of visualization</a> and affirmations.</li>
</ul>



<ul class="wp-block-list">
<li>J.K. Rowling faced numerous rejections before her books became global successes. Despite her <a href="https://abcnews.go.com/Health/Depression/story?id=4542880&amp;page=1" target="_blank" rel="noreferrer noopener">struggles with depression</a> and uncertainty, she remained positive and persevered.</li>
</ul>



<ul class="wp-block-list">
<li>Nelson Mandela, <a href="https://www.nelsonmandela.org/news/entry/nelson-mandelas-release-from-prison-33-years-on#:~:text=He%20was%20released%20unconditionally%20on%2011%20February%201990%2C%20after%20spending%2027%20years%20in%20prison" target="_blank" rel="noreferrer noopener">imprisoned for 27 years</a>, maintained hope and resilience, leading South Africa toward peace and unity.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-to-practice-positive-thinking">How To Practice Positive Thinking</h2>



<p>With consistency and practice, anyone can develop a positive mindset. These approaches are a great place to start:</p>



<h3 class="wp-block-heading" id="h-visualization">Visualization</h3>



<p>Visualization is a powerful mental exercise that reshapes your mind. It involves picturing yourself achieving your goals and succeeding in different situations. If you can see it in your mind’s eye, then you are one step closer to achieving it. Always imagine a successful outcome no matter what the situation looks like.</p>



<h3 class="wp-block-heading" id="h-affirmations">Affirmations</h3>



<p>Affirmations are positive statements that help rewire your brain to focus on strengths and possibilities rather than fears and self-doubt. If you're wondering how to gain positive thinking naturally, affirmations are a simple yet effective practice. The words you speak to yourself daily shape your mindset and influence your actions. By developing and repeating daily affirmations, you can gradually shift away from negativity, build self-confidence and foster a more optimistic outlook.</p>



<h3 class="wp-block-heading" id="h-gratitude">Gratitude</h3>



<p>Gratitude shifts your focus toward what has already happened and away from what hasn’t, and this simple realization can change the dynamics of your life. It’s easy to overlook how far you have come. However, embracing the power of positive thinking means intentionally acknowledging your progress. You can practice gratitude daily by keeping a <a href="https://successcom.wpenginepowered.com/gratitude-journal-prompts/">gratitude journal</a> and celebrating small wins.</p>



<h3 class="wp-block-heading" id="h-reframing">Reframing</h3>



<p>Reframing is a great technique to change negative thinking to positive. It involves changing your perspective on negative situations so they appear as learning experiences rather than failures. When there is a challenge, intentionally find ways to turn it into an opportunity for growth.</p>



<h2 class="wp-block-heading" id="h-breaking-through-mental-barriers-to-positivity">Breaking Through Mental Barriers to Positivity</h2>



<p>Practicing positive thinking requires overcoming mental and emotional roadblocks. These include:</p>



<h3 class="wp-block-heading" id="h-fear-of-failure">Fear of Failure</h3>



<p>Fear of failure can cause many people to avoid taking risks or pursuing goals. This fear may stem from self-doubt, past experiences or societal pressure.&nbsp;</p>



<p>When fear creates a negative mindset, it can lure you into expecting the worst, avoiding challenges or giving up too soon.</p>



<h3 class="wp-block-heading" id="h-past-setbacks">Past Setbacks</h3>



<p>Past setbacks and disappointments make it hard to believe in a positive future. Dwelling on previous failures, losses or disappointments can create a mindset that assumes history will repeat itself, leading to hesitation and fear.</p>



<h3 class="wp-block-heading" id="h-negative-surroundings">Negative Surroundings</h3>



<p>Surrounding yourself with negativity can subtly influence your thoughts. If you are not mindful of your environment, negative energy can seep in.&nbsp;</p>



<p>To shift from negative thoughts to positive thinking, it is essential to intentionally create a positive space. Constant exposure to negative news, pessimistic people and discouraging expectations can gradually shape your mindset and prevent you from embracing optimism.</p>



<h2 class="wp-block-heading" id="h-how-to-change-from-negative-to-positive-thinking">How To Change From Negative to Positive Thinking</h2>



<p>Shifting from negative to positive thinking doesn’t happen overnight, but it starts with intentional mindset changes and daily habits that build resilience. Here are a few practical steps you can take to begin that transformation:</p>



<ul class="wp-block-list">
<li>Acknowledge limiting beliefs and reframe them.</li>



<li>Focus on solutions instead of problems.</li>



<li>Avoid negative environments that drain your optimism.</li>



<li>Consistently practice gratitude and self-affirmation.</li>
</ul>



<h2 class="wp-block-heading" id="h-your-thoughts-shape-your-future-make-them-count">Your Thoughts Shape Your Future—Make Them Count</h2>



<p>Success is not just an action; it’s a mindset. Cultivating positivity increases your chances of turning aspirations into reality. By enhancing resilience, improving decision-making, boosting confidence and attracting opportunities, a positive mindset becomes the foundation for long-term success.</p>



<p>Leverage the power of positive thinking and take actionable steps toward becoming optimistic. By consistently practicing optimism, gratitude and resilience, you can transform challenges into stepping stones and create a fulfilling, purpose-driven life and career.</p>



<p>Start today. Your mindset shapes your future.</p>



<p class="has-small-font-size"><em>Photo by Antonio Guillem/Shutterstock.</em></p>

Joy Ogide

Discover how positive thinking can help you stay motivated, overcome challenges and create a fulfilling life you love—one thought at a time.

Discover how positive thinking can help you stay motivated, overcome challenges and create a fulfilling life you love—one thought at a time. | SUCCESS

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<p>Digital networking has transformed how professionals connect, collaborate and grow. <a href="https://about.linkedin.com/#:~:text=About%20LinkedIn&amp;text=1%20billion%20members%20in%20more%20than%20200%20countries%20and%20territories%20worldwide." target="_blank" rel="noreferrer noopener">LinkedIn</a> alone—the world’s largest professional network—has over “1 billion members in more than 200 countries and territories worldwide.” That’s quite a reach, and it’s only one of the digital networking platforms available for building business relationships online.</p>



<p>The modern-day shift from in-person coffee meetings to Zoom calls and LinkedIn DMs enhances traditional networking by breaking down barriers to time, geographic location and access. The flexibility of digital networking allows professionals to cultivate partnerships with peers, industry leaders and potential mentors around the globe.</p>



<p>These days, digital networking options are no longer “nice to have.” The future of professional networking is digital, and mastering it is essential to effectively network for career advancement. This article dives into where and <a href="https://successcom.wpenginepowered.com/how-to-network-101/">how to network</a> and offers online networking tips to help you successfully build your community.</p>







<h2 class="wp-block-heading" id="h-the-new-rules-of-networking-in-a-remote-world-amp-building-trust-online">The New Rules of Networking in a Remote World &amp; Building Trust Online</h2>



<p>Historically, much <a href="https://successcom.wpenginepowered.com/networking-for-business/">networking for business</a> over the last century has occurred in person at conferences, seminars and social events. With the uptick of remote work and the growth of social media, however, there are currently more opportunities for digital networking.&nbsp;</p>



<p><a href="https://successcom.wpenginepowered.com/networking-events/">Traditional</a> and digital networking both result in strong relationships, and meaningful connections still drive opportunity. But, to thrive in digital networking, the mindset must shift to be more proactive, helpful and authentic. Digital networking is more than just showing up. You’ll find the most success when you seek connections based on similar interests and provide value to others.&nbsp;</p>



<p>Quick Tip: Learn the <a href="https://successcom.wpenginepowered.com/how-to-network-101/">basics of networking</a> and then tailor your approaches to digital platforms. Many of the core concepts of networking apply to its virtual counterpart in a slightly different way.&nbsp;</p>



<h2 class="wp-block-heading" id="h-where-to-network-online-digital-networking-platforms-and-virtual-events">Where to Network Online: Digital Networking Platforms and Virtual Events</h2>



<p>Leverage platforms like LinkedIn, Slack, X (formerly Twitter), industry forums and virtual networking events to expand and maintain connections. They’re all powerful tools for using social media to professionally and network online.&nbsp;</p>



<h3 class="wp-block-heading" id="h-linkedin">LinkedIn</h3>



<p>LinkedIn is the gold standard for digital <a href="https://successcom.wpenginepowered.com/networking-for-career-success/">networking for career success</a> and a great place for building online relationships and establishing yourself as a leader in your field. It’s more than a digital resume. Through engagement, LinkedIn lets you control how you are perceived professionally in the digital world.</p>



<h3 class="wp-block-heading" id="h-x">X</h3>



<p>On X (formerly Twitter), share opinions and insights on trending issues to also establish yourself as an industry leader. Online networking strategies include hosting a “Q&amp;A” or an “Ask me Anything” to meet people in your industry and share expertise.&nbsp;</p>



<h3 class="wp-block-heading" id="h-slack-and-discord">Slack and Discord</h3>



<p>Slack and Discord communities are niche, tight-knit groups. For example, in marketing, <a href="https://www.jointofu.co/#:~:text=Top%20of%20the%20Funnel%20(TOFU,from%20world%2Dclass%20content%20marketers." target="_blank" rel="noreferrer noopener">Top of the Funnel (TOFU)</a> is a free Slack Content Marketing and SEO community offering the chance to chat with others in the industry, find work opportunities and get actionable advice from fellow content marketers. Other Slack groups, like <a href="https://devchat.webflow.io/" target="_blank" rel="noreferrer noopener">DevChat</a> and <a href="https://witchat.github.io/" target="_blank" rel="noreferrer noopener">Women in Technology</a> are also great places to learn from experts, share ideas and ask questions that align with your professional interests or industry.</p>



<h3 class="wp-block-heading" id="h-virtual-events-nbsp-nbsp">Virtual Events&nbsp;&nbsp;</h3>



<p>Over the past few years, more organizations are offering opportunities for networking at virtual events, such as webinars, online conferences and industry-specific forums. This lets interested parties save money on travel expenses, attend more events and potentially connect with professionals around the world—all from the comfort of their own desk. If you’re wondering where to find virtual events like conferences and webinars for professional networking online, consider these ideas:&nbsp;</p>



<ul class="wp-block-list">
<li>Check announcements on LinkedIn social media from industry-specific groups about upcoming virtual events. </li>



<li>Join professional associations for your industry and ask about what events they may sponsor or be connected with. </li>



<li>Join email lists or subscribe to newsletters for experts or groups in your field to get notified about potential events. </li>



<li>Browse company websites for free webinars or digital job fairs. </li>
</ul>



<p>Reaching out to mentors is another idea for discovering virtual networking tips and events.</p>



<h2 class="wp-block-heading" id="h-how-to-use-linkedin-for-networking-and-building-a-strong-online-presence">How to Use LinkedIn for Networking and Building a Strong Online Presence</h2>



<p>Getting started or getting more involved on LinkedIn can take a little effort, but it goes a long way. LinkedIn networking strategies start with a strong presence, providing value to others and building authentic connections.&nbsp;</p>



<h3 class="wp-block-heading" id="h-create-a-strong-profile-nbsp">Create a Strong Profile&nbsp;</h3>



<p>Optimize your LinkedIn profile to align with your business goals by including a professional headshot and clearly stating your title, experience and skills in your headline and summary. Add accomplishments and quantifiable achievements and incorporate relevant keywords to help others find you in online search results. You can also collect online recommendations from co-workers and/or managers to help improve your credibility.&nbsp;</p>



<h3 class="wp-block-heading" id="h-start-sharing-content-and-position-yourself-as-a-resource">Start Sharing Content and Position Yourself as a Resource</h3>



<p>Next, after your profile is complete and professional, share relevant content to highlight your interests and expertise and position yourself as a resource. Content might include presentations, recently written articles, relevant news or how-to guides—anything helpful. For example, posting a story about overcoming an obstacle at work, followed by the lesson learned, might help others in similar situations and encourage engagement.&nbsp;</p>



<h3 class="wp-block-heading" id="h-interact-meaningfully-with-others-nbsp">Interact Meaningfully with Others&nbsp;</h3>



<p>Similarly, comment meaningfully on others’ posts. You can also join communities on digital networking platforms to meet like-minded professionals. Simply put, the goal of LinkedIn digital networking strategies is to connect and provide value. When you do this, you’ll gain trust and begin building business relationships online.&nbsp;</p>



<h2 class="wp-block-heading" id="h-virtual-icebreakers-and-making-meaningful-connections-online">Virtual Icebreakers and Making Meaningful Connections Online</h2>



<p>From figuring out how to find connections to coming up with virtual coffee chat ideas, there’s plenty to navigate when networking in a digital world. Use these tips to ease the stress and get started.&nbsp;&nbsp;</p>



<h3 class="wp-block-heading" id="h-start-looking-for-connections-nbsp">Start Looking for Connections&nbsp;</h3>



<p>To start, find people you have connections to. This includes friends, colleagues and people with similar professional interests. Consider volunteer groups or interests you have. You can also utilize the LinkedIn Alumni tool to find people you went to college with.</p>



<h3 class="wp-block-heading" id="h-create-a-good-elevator-pitch-and-personalize-connections-nbsp">Create a Good Elevator Pitch and Personalize Connections&nbsp;</h3>



<p>Next, craft your <a href="https://successcom.wpenginepowered.com/the-118-the-modern-elevator-pitch/">elevator pitch</a>. Keep it concise and professional. Personalizing connection requests and intro DMs is your secret weapon. Introduce yourself and use virtual icebreakers. Be curious. Ask about a current project they’re working on or an article they’ve written. This makes a warm first impression and helps digital relationship-building efforts.&nbsp;</p>



<h3 class="wp-block-heading" id="h-stay-connected-and-start-building-relationships-nbsp">Stay Connected and Start Building Relationships&nbsp;</h3>



<p>After establishing a new connection, master the art of follow-up with the intent to solidify and maintain your relationships. Stay in touch and engage with their posts to grow long-term relationships. Did someone just announce a career milestone or get a new job? Congratulate them. Even better, use video or voice notes when appropriate to stand out. You can also offer a resource or ask for a quick virtual coffee chat call.&nbsp;</p>



<p>Quick Tip: Some people utilize <a href="https://www.linkedin.com/pulse/what-digital-business-card-ultimate-guide-2024-linkconnect-in-7fvif" target="_blank" rel="noreferrer noopener">digital business cards</a> to help them make an impression and share information with others when doing professional networking online. Depending on your needs, it could be a helpful tool to consider. </p>



<h2 class="wp-block-heading" id="h-nurturing-and-sustaining-relationships-online-through-virtual-networking">Nurturing and Sustaining Relationships Online Through Virtual Networking</h2>



<p>This should go without saying, but don’t ghost your network. Consistent engagement on online digital platforms is more important than volume. Celebrate each other’s wins and take the time to post thoughtful comments and personalized messages. Also, be of service. Share job leads, recommend tools and make introductions to fellow peers.&nbsp;</p>



<p>To close the gap between digital and in-person interactions, schedule virtual catch-ups or async video and audio meetings. Seeing someone's face and hearing someone's voice makes the connection feel a little bit more personal.</p>



<p>You may also consider working small networking practices (also known as micro-networking) into your daily routine. For example, check your networks for updates and like or comment on posts while you’re having your morning coffee. Small, consistent actions could make it easier to stick to the habit of staying connected to your network.</p>



<h2 class="wp-block-heading" id="h-the-long-term-value-of-building-trust-and-intentional-digital-networking">The Long-Term Value of Building Trust and Intentional Digital Networking</h2>



<p>When digital networking is used well, it can lead to meaningful, long-lasting relationships, professional growth and career opportunities that may never have existed offline.</p>



<p>Start growing your network and developing digital relationships now. Don't wait until you need it. To start, take one small step–comment on a post, reach out to someone or join a new community.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by Nattakorn_Maneerat/Shutterstock.</em></p>

Discover practical strategies for successful digital networking, from optimizing your LinkedIn profile to building professional relationships.

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Leadership | SUCCESS | What Achievers Read

<p>The shift towards <a href="https://successcom.wpenginepowered.com/what-is-sustainability/">sustainability</a> is impacting businesses in every industry. No matter what your business focus is, sustainable leadership is something to think about. Many consumers, employees and investors are seeking companies that prioritize sustainable and eco-friendly practices.&nbsp;</p>



<p>This desire for sustainability isn’t just about reducing your carbon footprint or recycling. Sustainability in business is about creating a long-lasting and positive impact on the environment, economy and society as a whole.&nbsp;</p>



<p>Sustainability within a business begins with its leadership, embracing practices that foster long-term success by making ethical decisions, focusing on innovation and growing the business responsibly. It also means doing so without overlooking diversity, climate change and the community’s overall well-being. </p>



<p>As more companies are making the shift towards sustainability, adopting <a href="https://successcom.wpenginepowered.com/sustainable-business-practices/">eco-friendly business practices</a> is a practice well worth considering. Let’s explore what sustainable leadership is, its benefits and simple strategies to make it effective in your business.&nbsp;</p>







<h2 class="wp-block-heading" id="h-what-is-sustainable-leadership">What Is Sustainable Leadership?</h2>



<p>Sustainable leadership is an approach that emphasizes long-term value for all, including employees, stakeholders, customers, the community and the environment. A sustainable leader finds ways to integrate eco-friendly practices into their organization’s core values, ensuring they are woven into business decisions.&nbsp;</p>



<p>Unlike traditional leadership, which primarily focuses on profit, sustainable leadership balances the business's financial success with its responsibility to society and the environment. At its core, it’s about driving business growth while minimizing negative impacts on the environment and society.</p>



<h3 class="wp-block-heading" id="h-shifting-from-short-term-profits-to-long-term-impacts-nbsp">Shifting From Short-Term Profits to Long-Term Impacts&nbsp;</h3>



<p>Businesses often focus on immediate returns and short-term profits. However, this can come at the expense of long-term sustainability. A lack of long-term sustainable thinking could contribute to unsustainable growth, environmental degradation and the exploitation of workers.&nbsp;</p>



<p>With the rise of corporate social responsibility (CSR) and sustainability-driven consumer choices, the business landscape is shifting. Sustainable leaders recognize the importance of making decisions that will benefit future generations and have long-term impacts. Principles of sustainable leadership include:</p>



<ul class="wp-block-list">
<li><strong>Environmental Stewardship: </strong>Taking responsibility and action to reduce a company’s carbon footprint and reduce depletion of the Earth’s natural resources.&nbsp;</li>



<li><strong>Long-Term Value Creation: </strong>Building value over time by focusing on environmental, social and governance factors.&nbsp;</li>



<li><strong>Social Responsibility: </strong>Prioritizing the welfare of employees and communities by promoting diversity, ensuring fair wages and supporting local economies.&nbsp;</li>
</ul>



<h2 class="wp-block-heading" id="h-how-sustainable-leadership-contributes-to-business-success">How Sustainable Leadership Contributes to Business Success</h2>



<p>When leaders make sustainability a priority, it can contribute to business success and help companies with long-term growth. Let’s take a look at the potential benefits of sustainable leadership:&nbsp;</p>



<h3 class="wp-block-heading" id="h-enhances-brand-reputation-and-customer-loyalty">Enhances Brand Reputation and Customer Loyalty</h3>



<p>Consumers are making more purchasing decisions based on sustainable practices and some studies suggest that <a href="https://www.businessdasher.com/environmentally-conscious-consumers-statistics/" target="_blank" rel="noreferrer noopener">shoppers are seeking eco-friendly brands</a>.&nbsp; Leaders who recognize this can help businesses build trust and strengthen brand reputation by <a href="https://successcom.wpenginepowered.com/sustainability-in-business/">incorporating sustainability</a>. Customers today are informed and selective with the brands they choose and support, so focusing on sustainability is more important than ever.&nbsp;</p>



<h3 class="wp-block-heading" id="h-drives-innovation-and-competitive-advantage">Drives Innovation and Competitive Advantage</h3>



<p>When business leaders practice sustainability, they can help drive innovation by encouraging employees to create green innovations, initiatives and ethical business models. This can be done through creating eco-friendly products, finding energy-efficient solutions or reducing waste.&nbsp;</p>



<p>Businesses that emphasize sustainability are in a position to create a competitive advantage. They can do this in eco-friendly packaging, renewable energy, green supply chains and related areas. They’re also in a position to anticipate and prepare for environmental regulatory changes, which happen regularly across the globe.&nbsp;</p>



<h3 class="wp-block-heading" id="h-increases-employee-engagement-and-retention-nbsp">Increases Employee Engagement and Retention&nbsp;</h3>



<p>Implementing and maintaining sustainable practices can help increase employee engagement and retention, regardless of your business's industry. Sustainable business leadership helps create a positive work environment while attracting and retaining top talent.&nbsp;</p>



<p>Employees may be more likely to put forth their best effort and stay at companies that are purpose-driven and align with their personal values. Additionally, when leaders implement sustainable practices, it may help employees be more engaged and productive at work.&nbsp;</p>



<p>Sustainable business leadership can also help foster a culture of transparency, accountability and inclusivity. These aspects can contribute to a strong company culture where employees feel good about their contributions and their working environment.&nbsp;</p>



<h3 class="wp-block-heading" id="h-ensures-long-term-profitability-and-resilience-nbsp">Ensures Long-Term Profitability and Resilience&nbsp;</h3>



<p>Sustainability helps focus on long-term outcomes, not short-term profits. A strong ESG performance can help drive financial resilience, revenue growth and improved risk management in a business.&nbsp;</p>



<p>Adopting sustainable practices can also help prepare a business for risks such as environmental disruptions, shifts in consumer behavior or regulatory changes.&nbsp;&nbsp;</p>



<p><strong><em>Related:</em></strong> <a href="https://successcom.wpenginepowered.com/sustainability-books/">20 Best Sustainability Books for Entrepreneurs</a></p>



<h2 class="wp-block-heading" id="h-strategies-for-becoming-a-sustainable-leader">Strategies for Becoming a Sustainable Leader</h2>



<p>The importance of sustainable leadership is clear, but it isn’t something that happens overnight. Fortunately, there are key actions you can take to set your business up for success.&nbsp;</p>



<h3 class="wp-block-heading" id="h-set-clear-and-attainable-goals-for-sustainability">Set Clear and Attainable Goals for Sustainability</h3>



<p>As a leader, having clear and attainable goals is key. Defining distinct, measurable sustainability goals for yourself and your organization can help you be more successful. Ensure these goals align with your overall business strategy and cover areas such as: </p>



<ul class="wp-block-list">
<li>Minimizing waste</li>



<li>Reducing carbon emissions&nbsp;</li>



<li>Improving employee diversity and well-being&nbsp;</li>



<li>Enhancing supply chain transparency&nbsp;</li>
</ul>



<p>A sustainable leader also needs to make sure that their goals are realistic, actionable and measurable. Adopting ESG metrics to track your progress over time can help. If they’re not actionable, measurable and realistic, they can be more difficult to achieve.&nbsp;</p>



<h3 class="wp-block-heading" id="h-lead-by-example">Lead by Example</h3>



<p>When you make the transition to sustainable leadership, you want to ensure that you’re leading by example. This is s helpful way to encourage employees, stakeholders and consumers to participate in your green initiatives.&nbsp;</p>



<p>If you’re committed to your eco-friendly practices and ethical decision-making, others will be more likely to follow your lead. Some ways that you can encourage sustainable habits include:&nbsp;</p>



<ul class="wp-block-list">
<li>Supporting green initiatives, such as participating in local charity work&nbsp;</li>



<li>Reducing energy consumption in the workplace&nbsp;</li>



<li>Advocating for diversity and inclusion in company hiring practices&nbsp;</li>
</ul>



<h3 class="wp-block-heading" id="h-engage-your-stakeholders">Engage Your Stakeholders</h3>



<p>Engaging the stakeholders of the company can help to ensure that sustainable initiatives are maintained. Consider creating sustainability-focused committees within different departments and at various levels so everyone can get involved. You can also host employee engagement programs and involve customers in eco-friendly challenges to make participation more fun.&nbsp;</p>



<p>At the root of stakeholder engagement is transparency. No matter how well or poorly sustainable initiatives are doing, it’s important to remain transparent and regularly report on their performance with ESG disclosures so everyone can be held accountable.&nbsp;</p>



<h3 class="wp-block-heading" id="h-measure-and-report-your-progress">Measure and Report Your Progress</h3>



<p>As a sustainable leader within a business, it’s important to regularly measure and report your progress. Doing this will help you see where you’re sustainability practices and initiatives are succeeding and where improvements could be made.<br><br>You can use tools like sustainability dashboards, ESG reporting and impact assessments to track your success and areas for improvement. These reports will also allow you to analyze the data and adjust your goals as needed to ensure that you’re making the most of your sustainable practices and doing what’s best for your business, community, employees and stakeholders.&nbsp;</p>



<h2 class="wp-block-heading" id="h-leadership-and-sustainable-development-go-hand-in-hand-nbsp-nbsp-nbsp">Leadership and Sustainable Development Go Hand-in-Hand&nbsp;&nbsp;&nbsp;</h2>



<p>Sustainable leadership isn’t just a trend in the business world; it’s the future. By incorporating sustainable business practices, starting at the top, companies can see a host of benefits. Companies implementing these strategies can foster employee engagement and retention, innovation and long-term profitability.&nbsp;</p>



<p>Not only does it allow businesses to thrive in the long term, but it does so while contributing to a healthier planet and society. It’s a key to the success of a business that wants to position itself for future growth.&nbsp;</p>



<p>Leaders who embrace sustainable practices can build stronger connections with their consumer base, retain and build engagement with employees and create lasting value for their stakeholders. Start today and future-proof your business in a way that protects the planet and the people.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by WHYFRAME/Shutterstock.</em></p>

Hannah Miles

Sustainable leadership can help drive business success. Learn how ethical, eco-friendly leadership fosters innovation, engagement and growth.

Sustainable leadership can help drive business success. Learn how ethical, eco-friendly leadership fosters innovation, engagement, and growth. | SUCCESS

How Sustainable Leadership Drives Business Success & Strategies to Make It Happen 

How Sustainable Leadership Drives Business Success &#038; Strategies to Make It Happen 

How Sustainable Leadership Drives Business Success | SUCCESS

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College counselor talking with teenage girl, using digital tablet for work

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Personal Development

Personal Development Archives

Personal Development | SUCCESS | What Achievers Read

<p>Applying for college can be overwhelming, and college counselors can help relieve some of that stress. “Independent counselors can be instrumental in guiding students through <a href="https://successcom.wpenginepowered.com/3-action-steps-for-an-honest-self-assessment/">self-assessment</a>, exploring diverse academic paths and identifying colleges that align with their individual needs and interests,” says Joel Bauman, Duquesne University senior vice president for enrollment management.“ This can lead to a more targeted and thoughtful application process.”</p>



<p>Read on to discover expert tips and tricks to help students and their parents understand more about the college application process.</p>



<h2 class="wp-block-heading" id="h-when-should-i-start-looking-for-a-college-counselor">When should I start looking for a college counselor?</h2>



<p>The fall of junior year is when students need to seriously work with an expert to determine where they want to go to school, yet many college counselors have programs that start as early as eighth grade, explains <a href="https://ivycollegeessay.com/" target="_blank" rel="noreferrer noopener">Jillian Ivy,</a> a Harvard graduate and owner of Ivy College Essay. The benefit of meeting with a college counselor in those early years is to help students build a profile, whether that’s deciding on academic classes and/or making plans for the summer.</p>







<h2 class="wp-block-heading" id="h-how-do-i-find-the-right-college-counselor-for-me">How do I find the right college counselor for me?</h2>



<p>Many college counselors offer a free consultation to see if you like their policies and recommendations. Here are some tips for what to look for and what to ask when searching for a college counselor:</p>



<ul class="wp-block-list">
<li>Look at their credentials to see their education and their prior work experience.</li>



<li>Ask about how their process works, such as how often you’ll meet with them and how frequently they’ll communicate with you.</li>



<li>Understand and agree upon how much they charge and also when they charge their fees.</li>



<li>Determine if your child feels comfortable opening up to that individual.</li>
</ul>



<h2 class="wp-block-heading" id="h-benefits-of-using-a-college-counselor">Benefits of using a college counselor</h2>



<h3 class="wp-block-heading" id="h-1-college-counselors-provide-a-personalized-approach"><strong>1.</strong> College counselors provide a personalized approach</h3>



<p>College counselors offer students a personalized look at their <a href="https://successcom.wpenginepowered.com/find-a-job-you-love/">passions</a> and which schools would be the best fit for potential majors and careers. <a href="https://www.alexellison.com/" target="_blank" rel="noreferrer noopener">Alex Ellison</a>, college counselor and coauthor of <em>Your Hidden Genius: The Science-Backed Strategy to Uncovering and Harnessing Your Innate Talents</em>, offers each student an assessment to figure out their core innate talents, interests, <a href="https://successcom.wpenginepowered.com/how-to-understand-peoples-personality-types/">personality</a> and approach to work. “[We] talk about how you're using your time right now,” says Ellison. “How are you exploring? How are you learning about yourself?”</p>



<p>Similarly, <a href="https://collegeplanningexperts.com/our-team/" target="_blank" rel="noreferrer noopener">Brian Safdari</a>, CEO and founder of College Planning Experts offers his students a strength finders assessment to get a feel for their true values and skills.</p>



<p>When Ivy works with her students, she understands their background, what they bring to the table and helps students choose what to emphasize on their college applications. “A lot of times, students are too close to their life… and they can't see what makes them interesting,” says Ivy. “It takes an outsider to say, OK, everything you told me is really good, but you forgot to mention… that you play the harp [for example]—that's unusual…. Then, that becomes something they write about in their essays that makes them stand out.”</p>



<h3 class="wp-block-heading" id="h-2-college-counselors-remove-the-pressure"><strong>2.</strong> College counselors remove the pressure</h3>



<p>Helping a student figure out a college, a major and a career is a big undertaking for any family. A college counselor can take something that is stressful outside the home into a separate space to preserve the relationship within the family, advises Ellison.</p>



<p>“Helping a student find their passion and guiding them requires a lot more hand-holding and guidance… [and] it's very hard for a [school] counselor to provide that one-on-one attention,” says Safdari, especially when they have hundreds of students to look after.</p>



<p>“We really have an exposure gap in this country,” says Ellison. “Kids just don't really know what's out there and what's possible and what they can get paid to do.” College counselors can help them understand their options. “Kids will write off an entire subject because of one [bad] experience. That can impact them for the rest of their lives.”</p>



<h2 class="wp-block-heading" id="h-what-are-my-options-if-i-can-t-afford-a-college-counselor">What are my options if I can’t afford a college counselor?</h2>



<p>Ivy recommends families read her <a href="https://ivycollegeessay.com/blog-ivy-league-college-admissions-consulting/" target="_blank" rel="noreferrer noopener">free admissions blog on her website</a>, which she has updated over the past 15 years. “If they read through the blog, they will find the different tips, hints [and] advice that can really help,” says Ivy.&nbsp;</p>



<p>Ellison recommends finding family or friends in various careers and asking if your teenager can shadow them at their job for the day to help them understand what their career is really like. She also suggests finding a teacher, neighbor or family friend who can be a mentor or guide—anyone who has objective, unbiased advice.</p>



<p>“Create a timeline [and] work backward from the application deadlines to set goals for research, testing, essay writing and financial aid applications,” suggests Bauman. “Research a variety of colleges based on [your child’s] academic interests, career goals, location preferences and <a href="http://success.com/saving-for-college-2024/">financial considerations</a>. Aim for a balanced list including at least three each of ‘reach,’ ‘target’ and ‘safety’ schools.” Then, stay organized and focus on essays, applications and understanding financial aid.</p>



<p>The bottom line is that a college counselor can provide an unbiased view of a student and point them in the right direction regarding the college and career that are a good fit for their strengths and interests.</p>



<p>Just going to college doesn't make anyone successful, but why are you going to college?” says Safdari. “[We help] them figure out their why properly, then we match the right colleges to the student and then we say, here's the road map [you] specifically want to be on.”</p>



<p>Other resources Bauman recommends include:</p>



<ul class="wp-block-list">
<li><a href="https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.coalitionforcollegeaccess.org%2F&amp;data=05%7C02%7Cravasio%40duq.edu%7C9fae68ee6a7a455efdbb08dd657b8ccf%7C12c44311cf844e4195c38df690b1eb61%7C0%7C0%7C638778303495695920%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=%2BcX6Lgs5%2FVBN97A27j1vJ%2BcjtE0g5I0LebL8jU%2Fz5rk%3D&amp;reserved=0" target="_blank" rel="noreferrer noopener">Coalition for College</a></li>



<li><a href="https://www.ncan.org/" target="_blank" rel="noreferrer noopener">National College Attainment Network</a>&nbsp;</li>



<li><a href="https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fscholarshipamerica.org%2Fstudents%2F&amp;data=05%7C02%7Cravasio%40duq.edu%7C9fae68ee6a7a455efdbb08dd657b8ccf%7C12c44311cf844e4195c38df690b1eb61%7C0%7C0%7C638778303495717163%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=30PMAFVilRUKMuSe4hOD42TDJ8dyXVtQe282X1CZiRw%3D&amp;reserved=0" target="_blank" rel="noreferrer noopener">Scholarship America</a></li>



<li><a href="https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fcollegescorecard.ed.gov%2F&amp;data=05%7C02%7Cravasio%40duq.edu%7C9fae68ee6a7a455efdbb08dd657b8ccf%7C12c44311cf844e4195c38df690b1eb61%7C0%7C0%7C638778303495676374%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=ncfzffwvyw3AwwApd7WBzwNQ%2BgCB62OTBlwwGTcsXXU%3D&amp;reserved=0" target="_blank" rel="noreferrer noopener">College Scorecard</a></li>



<li><a href="https://nces.ed.gov/collegenavigator/" target="_blank" rel="noreferrer noopener">College Navigator</a></li>



<li><a href="https://www.commonapp.org/directadmissions" target="_blank" rel="noreferrer noopener">Common App</a></li>
</ul>



<p class="has-small-font-size"><em>Photo by VH-Studio/Shutterstock.</em></p>

Jaclyn Greenberg

A college counselor can make applying to college less stressful. Hear from experts on the benefits of working with a counselor and finding a good fit.

A college counselor can make applying to college less stressful. Hear from experts on the benefits of working with a counselor and finding a good fit. | SUCCESS

Do You Need a College Counselor? How to Find the Right Fit

Should You Work With a College Counselor? | SUCCESS

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Quotes

Quotes Archives

Quotes | SUCCESS | What Achievers Read

<p>The road to success is paved with hard work, resilience, learning and dedication, but also with things that seem counterintuitive to success, such as failure and relaxation. Yes, you heard that correctly. Relaxation is one of the key ingredients essential for a successful life.&nbsp;</p>



<p>Our body and brain aren’t built for constant motion. Granting ourselves time to unwind allows us to manage our stress, improve our mood and cut down on all that mental clutter. Relaxation can also manifest in many different ways. It can look like a five-minute break between meetings or cozying up with a good book at the end of the evening. It can also take the form of larger events such as weekend getaways or tropical vacations (the ultimate relaxation oasis).&nbsp;</p>



<p>The “relax” quotes found in this article explore all the avenues we can take in order to <a href="https://successcom.wpenginepowered.com/19-calming-quotes-to-help-you-stress-less/">find that inner peace</a> and learn to let things go. They help us to see that we not only deserve these moments of tranquility but <em>need</em> them in order to show up even better and to live a more fulfilled life.&nbsp;</p>







<h2 class="wp-block-heading" id="h-relaxation-quotes-for-everyday-moments">Relaxation Quotes for Everyday Moments</h2>



<p>The act of relaxation may look and feel like you’re doing close to nothing. But, in reality, you’re doing so much for your mind and body. <a href="https://www.mayoclinic.org/healthy-lifestyle/stress-management/in-depth/relaxation-technique/art-20045368" target="_blank" rel="noreferrer noopener">Relaxation techniques</a> can actually improve your focus, energy, sleep and even boost your immune system or help with pain management. Incorporating practices like mindfulness and self-care into your daily routine can help with relaxation, too. Discover how these relaxing words and phrases can push you further toward that mindset of perpetual tranquility.&nbsp;</p>



<ul class="wp-block-list">
<li>“Your calm mind is the ultimate weapon against your challenges. So relax.” —<em>Bryant McGill</em></li>



<li>“Open the portals of calmness and you will find the bright sun of joy within yourself.” —<em>Paramhansa Yogananda</em></li>



<li>“Give your stress wings and let it fly away.” —<em>Terri Guillemets</em></li>



<li>“Relax. Just relax and have fun doing what you’re doing. Don’t worry so much about being results oriented. Just commit yourself to the moment.” —<em>John Goodman</em></li>



<li>“Your mind will answer most questions if you learn to relax and wait for the answer. Like one of those thinking machines, you feed in your question, sit back and wait.” —<em>William S. Burroughs,</em> Naked Lunch</li>



<li>“Relax. Seriously.” —<em>Ryan Holiday</em></li>



<li>“Don't make things too complicated. Try to relax, enjoy every moment, get used to everything.” —<em>Angelique Kerber</em></li>



<li>“To have moments of calm—creative or restful—is a form of deep sustenance for human beings of all ages. Relationships are often built in these pauses, in the incidental moments, when nothing much is going on.” —<em>Kim John Payne, Lisa M. Ross,</em> Simplicity Parenting</li>



<li>“Rest when you’re weary. Refresh and renew yourself, your body, your mind, your spirit. Then get back to work.” —<em>Ralph Marston</em></li>
</ul>







<ul class="wp-block-list">
<li>“It’s a good idea always to do something relaxing prior to making an important decision in your life.” —<em>Paulo Coelho, </em>The Pilgrimage</li>



<li>“Medical science has been telling us for years that if we want to live a long, healthy life, we’ve got to chill out and relax a bit.” —<em>Mendhi Audlin,</em> What If It All Goes Right?</li>
</ul>



<p><em>Related:</em> <a href="https://successcom.wpenginepowered.com/100-inner-peace-quotes/">100 Inner Peace Quotes to Be Your Guide Through Difficult Situations</a></p>



<h2 class="wp-block-heading" id="h-rest-amp-relaxation-quotes-to-inspire-your-next-vacation">Rest &amp; Relaxation Quotes to Inspire Your Next Vacation</h2>



<p>When we hear the word “relaxation,” our minds often drift to “vacation.” Whether it’s on a beach, in the mountains or at home for a staycation, these getaways provide a perfect opportunity to unplug and escape from your day-to-day grind mentally. Slip into that vacation state of mind with the following “time to relax” quotes and use them to inspire your next holiday. Where will you journey to next for rest and rejuvenation?</p>



<ul class="wp-block-list">
<li>“Almost everything will work again if you unplug it for a few minutes—including you.” —<em>Anne Lamott</em></li>



<li>“A holiday is an opportunity to journey within. It is also a chance to chill, to relax. It is when I switch on my rest mode.” —<em>Prabhas</em></li>



<li>“After a while, just staying alive becomes a full-time job. No wonder we need a vacation.” —<em>Michael Zadoorian,</em> The Leisure Seeker</li>



<li>“Each person deserves a day away in which no problems are confronted, no solutions searched for. Each of us needs to withdraw from the cares which will not withdraw from us.” —<em>Maya Angelou,</em> Wouldn’t Take Nothing for My Journey Now</li>
</ul>







<ul class="wp-block-list">
<li>“If you go dark on vacation, you’ll be ready for the light when you return.” —<em>Brian Scudamore</em></li>



<li>“After all, the best part of a holiday is perhaps not so much to be resting yourself, as to see all the other fellows busy working.” —<em>Kenneth Grahame,</em> The Wind in the Willows</li>



<li>“Sometimes it’s important to work for that pot of gold. But other times it’s essential to take time off and to make sure that your most important decision in the day simply consists of choosing which color to slide down on the rainbow.” —<em>Douglas Pagels,</em> These Are the Gifts I'd Like to Give to You</li>
</ul>



<p><em>Related:</em> <a href="https://successcom.wpenginepowered.com/15-inspiring-quotes-to-help-you-find-joy/">75 Joy Quotes That Will Brighten Your Day and Lift Your Spirit</a></p>



<h2 class="wp-block-heading" id="h-short-sayings-to-remind-you-to-take-time-to-relax">Short Sayings to Remind You to Take Time to Relax</h2>



<p>You don’t have to reach a certain milestone or <a href="https://successcom.wpenginepowered.com/how-to-prevent-burnout/">work until you’re completely burnt out</a> before you grant yourself a break. Relaxation is not just a want, but a human need, and something you should never feel guilty for. These short “relax” quotes and affirmations, originally written by SUCCESS® contributors, help us to see that this kind of downtime should not be associated with laziness but with peace and restoration. Write them on a sticky note to ensure that relaxation remains a priority and to remind yourself that you deserve it.&nbsp;</p>



<ul class="wp-block-list">
<li>“Above all else, learn how to relax. Your body and brain will thank you.”</li>



<li>“You should never feel guilty for allowing yourself time to rest.”</li>



<li>“Relaxation isn’t just for vacation. It should be built into your weekly, daily, even hourly routine.”</li>
</ul>







<ul class="wp-block-list">
<li>“Everything will work out just as it’s meant to. Relax and trust.”&nbsp;</li>



<li>“Relaxation is not something you must earn.”&nbsp;</li>



<li>“A relaxed mindset can carry you through anything.”&nbsp;</li>



<li>“Clear your mind, feel the earth under your feet and just breathe.”&nbsp;</li>



<li>“‘I can’t relax until…’ is a toxic phrase. Reframe your thoughts to ‘I will show up better once I am rested and refreshed.’”&nbsp;</li>



<li>“Sometimes a break is all you need to finally untie that knot you’ve been wrestling with.”&nbsp;</li>



<li>“Why not try slowing down for a change?”&nbsp;</li>
</ul>



<h2 class="wp-block-heading" id="h-quotes-for-remembering-to-relax-and-enjoy-life">Quotes for Remembering to Relax and Enjoy Life</h2>



<p>True relaxation is an art form. The following “relax and enjoy” quotes dive into the pure joy that can come from the practice. From listening to music and watching the clouds pass by to gardening and conversing with friends, they recount the simple pleasures that help to soothe us. We can take the time to appreciate these moments of relaxation and be better for it. A few relaxing Sunday quotes and weekend relaxation quotes additionally help us to make the most of these precious days of rest.</p>



<ul class="wp-block-list">
<li>“For fast-acting relief, try slowing down.” —<em>Lily Tomlin</em></li>



<li>“[Gardening is] how I relax. It's another form of creating and playing with color.” —<em>Oscar de la Renta</em></li>



<li>“The ultimate luxury is being able to relax and enjoy your home.” —<em>Jeff Lincoln</em></li>



<li>“Breathe in the amazing, hold on through the awful, and relax and exhale during the ordinary. That's just living heartbreaking, soul-healing, amazing, awful, ordinary life. And it's breathtakingly beautiful.” —<em>L.R. Knost</em></li>



<li>“Sometimes I have loved the peacefulness of an ordinary Sunday. It is like standing in a newly planted garden after a warm rain. You can feel the silent and invisible life.” —<em>Marilynne Robinson,</em> Gilead</li>



<li>“To have faith is like when you trust yourself to the water. You don't grab hold of the water when you swim; if you go stiff and tight in the water you sink. You have to relax.” —<em>Alan Watts,</em> The Essence of Alan Watts</li>
</ul>







<ul class="wp-block-list">
<li>“If you want to relax, watch the clouds pass by if you’re laying on the grass, or sit in front of the creek. Just doing nothing and having those still moments is what really rejuvenates the body.” —<em>Miranda Kerr</em></li>



<li>“Together with a culture of work, there must be a culture of leisure as gratification. To put it another way: people who work must take the time to relax, to be with their families, to enjoy themselves, read, listen to music, play a sport.” —<em>Pope Francis</em></li>



<li>“It’s nice when I have days off to go home and relax and literally take the weight off my shoulders and enjoy the simple things.” —<em>Seth Rollins</em></li>



<li>“Tea beckons us to enjoy quality time with friends and loved ones, and especially to rediscover the art of relaxed conversation.” —<em>Dorothea Johnson,</em> Tea &amp; Etiquette</li>
</ul>



<h2 class="wp-block-heading" id="h-soothing-rest-quotes-to-encourage-you-to-unwind">Soothing Rest Quotes to Encourage You to Unwind</h2>



<p>Sometimes, relaxation is easier said than done. We know that we need to cut the engine and just coast for a while, but we’re often stuck in overdrive. Learn how to ground yourself with these relaxing words. Experts in mindfulness and meditation share their thoughts on the matter—and advice for how to put your mind and body at ease.&nbsp;</p>



<ul class="wp-block-list">
<li>“Ah! There is nothing like staying at home for real comfort.” —<em>Jane Austen,</em> Emma</li>



<li>“Touching the Earth is a great way to remove anxiety and come back to yourself. It immediately has a grounding effect on you.” —<em>Amit Ray,</em> Mindfulness: Living in the Moment, Living in the Breath</li>



<li>“Sometimes, the most productive thing you can do is relax.” —<em>Mark Black</em></li>



<li>“Peace, love, joy, relaxation. I relax into the flow of life and let life flow through me with ease.” —<em>Louise Hay, </em>You Can Heal Your Life</li>



<li>“Rest and self-care are so important. When you take time to replenish your spirit, it allows you to serve others from the overflow. You cannot serve from an empty vessel.” —<em>Eleanor Brownn</em></li>
</ul>







<ul class="wp-block-list">
<li>“[Music is] motivational, and just makes you relax.” —<em>Taika Waititi</em></li>



<li>“You need to empty your mind and relax each muscle group until you feel like you are going to melt into the floor.” —<em>Kasie West,</em> Lucky in Love</li>



<li>“People choose to struggle when people don't want to relax. Sometimes it is not on your side. Relax, calm down. No matter how hard the waves are, you will float on the ocean.” —<em>Kubra Sait</em></li>



<li>“We humans have lost the wisdom of genuinely resting and relaxing. We worry too much. We don't allow our bodies to heal, and we don't allow our minds and hearts to heal.” —<em>Thich Nhat Hanh</em></li>



<li>“Taking time out each day to relax and renew is essential to living well.” —<em>Judith</em> <em>Hanson Lasater,</em> Relax and Renew</li>
</ul>



<h2 class="wp-block-heading" id="h-find-peace-and-serenity-with-relaxation-quotes">Find Peace and Serenity With Relaxation Quotes</h2>



<p>Take a moment and just breathe. Quotes about rest and relaxation remind us that slowing down isn’t a luxury—it’s a necessity. These gentle words help you unwind, find calm in everyday moments and truly enjoy those slow, serene days spent with family, friends or simply with yourself.&nbsp;</p>



<p>Whether you’re recharging for five minutes or taking a full week to reset, these quotes are here to guide you toward peace. Let them be a gentle nudge to pause, reflect and embrace the beauty of doing a little less and feeling a lot more.</p>



<p class="has-small-font-size"><em>Photo by Antonio Guillem/Shutterstock.</em></p>

Megan Hageman

“Relax” quotes remind us to take breaks, book vacations and just breathe. Be inspired to relax and find peace in everyday moments.

“Relax” quotes remind us to take breaks, book vacations and just breathe. Be inspired to relax and find peace in everyday moments. | SUCCESS

48 "Relax" Quotes to Help You De-Stress and Slow Down

48 &#8220;Relax&#8221; Quotes to Help You De-Stress and Slow Down

48 "Relax" Quotes to Inspire the Rest You Deserve | SUCCESS

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SoFi Invest app pulled up on a phone, used for investing

Assam,,India,-,February,19,,2021,:,Sofi,Logo,On

<p>Maybe you’ve seen advertisements or social media posts claiming to teach others how to earn money online with little to no effort. Maybe they’ve used the term “passive income.” Unfortunately, passive income—income that requires no active involvement after initial setup—really comes from one source: investments.&nbsp;</p>



<p>An investment is a purchased asset that potentially increases in value or generates income over time. A common example is buying a share in a company to either earn a payout (known as a dividend) or have it appreciate in value. If the share’s price increases, you can then sell the share for a premium and make a profit.</p>



<p>Another example is purchasing real estate. Buying an asset like real estate can generate income through rental costs to tenants. It can also increase in value over time due to an increase in housing demand, which makes the property more attractive to buyers.</p>



<p>At first glance, investing sounds great. I can make money just by giving my money to someone else? Sign me up!&nbsp;</p>



<p>But investing comes with its share of risks as not all assets are created equal. Investing requires time and research to find assets with reliable growth potential or income generation. There’s also the issue of choosing how to invest and which brokerage to use.&nbsp;</p>



<p>Thankfully, there are a number of online brokerages that offer investing services. We’ll be taking a look under the hood of one of the most well-known: SoFi Invest. If you’re not familiar with the investing platform, we’ll break down how it works, what types of investments it offers, the different account types available and its pros and cons.&nbsp;</p>







<h2 class="wp-block-heading" id="h-what-is-sofi-invest-nbsp">What Is SoFi Invest?&nbsp;</h2>



<p>SoFi is a financial tech (fintech) company that offers many financial products (e.g. student loans), including investments. Today, however, we’ll be focusing on the investing arm of SoFi in this article—SoFi Invest.&nbsp;</p>



<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfgAHDowajCgPPX_SdPnunXmHy7-fZNqs3IXJmorkFeBa9g6TJNNcpUqx3DKmPAaNCKXtArpq3SIN5Ttpl_p7Z63MIUvfFzsUbkdzzarb7N6zq7-PgrEQUWHg8swKG7V88e9XdmrQ?key=rPoIFlzhb-JbEmbhKYAEFg" alt="A screenshot from the SoFi Invest website"/></figure>



<p>SoFi Invest is an online brokerage—a platform where you can buy and sell stocks, bonds, exchange-traded funds (ETFs) and other assets.</p>



<p>For those who are new to investing or don’t want the hassle of researching investing advice, SoFi offers robo investing. Customers can tell SoFi their risk preferences and the platform uses computer algorithms and market data to generate a bespoke portfolio. This portfolio is then managed and rebalanced based on your preferences, risk tolerance and financial goals.&nbsp;</p>



<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfPu-96bZKM6ULmko1A1xZw9pbAloPZgNtG2diXiNKyjsj0a7nl8Jo7P1G2tps0SXrEOX2zJXXlk1hB3oiZMMiLRyGLIgjjBuQSPpN2x5ds5wmMHzWobJJP_6PdAWtXxjn3KpGJ?key=rPoIFlzhb-JbEmbhKYAEFg" alt=""/></figure>



<h2 class="wp-block-heading" id="h-the-pros-and-cons-f-sofi-invest">The Pros and Cons f SoFi Invest</h2>



<p>SoFi Invest has many investing options, but each investment—and each platform—has positives and negatives.&nbsp;</p>



<p>Let’s dig into the nitty gritty of this brokerage platform and see how it fares.</p>



<h3 class="wp-block-heading" id="h-the-pros-nbsp">The Pros&nbsp;</h3>



<p>SoFi Invest is a highly-rated online investing platform with many benefits, including:&nbsp;</p>



<ul class="wp-block-list">
<li><strong>Complimentary financial advice:</strong> SoFi standard members get 30 minutes of free financial advice from a financial planner. SoFi Plus members get unlimited advice appointments.&nbsp;</li>



<li><strong>Dedicated customer care:</strong> SoFi has a detailed help center and a virtual assistant available 24/7. Human customer support is available from 5 a.m. to 7 p.m. Monday through Thursday and from 5 a.m. to 5 p.m. Friday through Sunday.</li>



<li><strong>Low fees and minimums:</strong> SoFi has no account minimums on investing accounts. Investors can trade stocks, bonds and ETFs with no commission fees and buy fractional shares with a minimum of $5.&nbsp;</li>



<li><strong>Multiple account options:</strong> SoFi offers customers many <a href="https://successcom.wpenginepowered.com/retirement-planning-for-women/">retirement</a> account types for investing, such as Roth IRAs, traditional IRAs and SEP IRAs. Investors can also open a margin account to borrow against their current investments for cash at an interest rate of 11%.&nbsp;</li>



<li><strong>Various investment options:</strong> Both new and experienced traders can make use of SoFi’s numerous investing options, including stocks, ETFs, fractional shares, initial public offerings (IPOs), private credit investing, venture capital investing and commodities.&nbsp;</li>



<li><strong>Attractive bonuses:</strong> New investors that fund a SoFi Active Invest brokerage account with at least $50 can earn up to $1,000 in stock bonuses.&nbsp;</li>
</ul>



<h3 class="wp-block-heading" id="h-the-cons-nbsp">The Cons&nbsp;</h3>



<p>Despite its benefits, SoFi Invest has a few drawbacks:</p>



<ul class="wp-block-list">
<li><strong>No tax-loss harvesting:</strong> Stocks can be sold at any time, regardless of whether their value has increased or decreased. When a stock is sold for a gain, it is generally subject to tax. But, if you sold stocks at a loss, the opposite is true: you can get a tax break. Unfortunately, SoFi does not offer this service to members. This isn’t a major issue for new investors as tax-loss harvesting is extremely complex.</li>



<li><strong>Limited to U.S. assets: </strong>SoFi only offers investments that are U.S.-based, including ETFs, stocks and private equity.&nbsp;</li>



<li><strong>Required margin account minimum:</strong> Investors who want to borrow cash by surrendering their stocks to SoFi if they don’t pay back their loan must have at least $2,000 in their account to qualify.&nbsp;</li>



<li><strong>No ability to trade cryptocurrencies: </strong>SoFi no longer has an internal platform for investors to trade crypto like Bitcoin or Ethereum. However, they have partnered with BitGo and Blockchain.com to give investors access to these assets.</li>
</ul>



<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXduiiyNAvrpRAirFr1bvPs3qxPNmF7AT84ZeO6rCLCaImwqFePTTl9cOaLwiCh5n0FavrEkzDGAbqMaMOSFOXffPl8F1xO9lqXcxZEQrt5Y32vDbDFSXlNyazWmPpnxxN-T2B2l?key=rPoIFlzhb-JbEmbhKYAEFg" alt="A screenshot from the SoFi Invest website"/></figure>



<h2 class="wp-block-heading" id="h-sofi-account-types-which-is-best-for-you">SoFi Account Types: Which Is Best For You?</h2>



<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe4MlRHcnQdZmu8kevNjaeIKI048LZCWE2MQEUooHpaRm8bEJv79JfnmUuZGSgiB4Ac3VSmSqXYXDt2WLicqNlX-R6Yh4NYHuBNxpEOO7nmBWAljjG8HiUHXsbZDFF53HUEvhyJ?key=rPoIFlzhb-JbEmbhKYAEFg" alt=""/></figure>



<p>SoFi is a good option for new and seasoned investors given its variety of trading options, both public and private. It offers many investment account types so investors with different goals can use their money as they see fit. </p>



<p>Some of the accounts SoFi Invest offers include:&nbsp;</p>



<ul class="wp-block-list">
<li><strong>Individual brokerage accounts:</strong> Invest your cash in assets of your choice on your own. Individual accounts have no tax benefits.&nbsp;</li>



<li><strong>Joint brokerage accounts: </strong>Like individual accounts, joint brokerage accounts come with no tax benefits. However, more than one individual can access a joint account. Depending on the state you live in, these accounts may be called joint with right of survivorship (JWROS), community property or tenants by entirety accounts.&nbsp;</li>



<li><strong>Traditional retirement accounts: </strong>Standard IRA investment accounts allow you to save for retirement without paying tax immediately. In most cases, contributions to these accounts reduce your taxes owed. And any gains or income in these accounts are not taxed until money is removed.</li>



<li><strong>Roth retirement accounts: </strong>Roth IRAs are another type of account designed for retirement savings. Any contributions made are not tax-deductible but withdrawals are not taxed so long as they fall within IRS guidelines.&nbsp;</li>



<li><strong>Rollover retirement accounts: </strong>SoFi members who had a tax-qualified account (e.g. 401(k)) with a previous employer or institution can transfer their assets to an IRA. Typically these rollovers allow you to avoid tax penalties you’d incur if you simply withdrew the money and transferred it to an account. Currently, SoFi has a 1% matching offer for IRA rollovers, though terms and conditions apply.&nbsp;</li>



<li><strong>Simplified employee pension (SEP) IRAs: </strong>SEP accounts are individual retirement accounts that only your employer can contribute to. Contributions to these IRAs are capped at 25% of your annual pay.&nbsp;</li>
</ul>



<p>Does choosing an investment account from these options give you decision paralysis?&nbsp;</p>



<p>If so, SoFi has certified financial planners who can help you open the right account for your goals. Whether it’s about an <a href="https://successcom.wpenginepowered.com/what-is-an-emergency-fund/">emergency fund</a> or complex IRA rollover, SoFi members can ask a CFP for complimentary advice for 30 minutes or less.</p>



<h2 class="wp-block-heading" id="h-sofi-app">SoFi App</h2>



<p>If you prefer investing, saving and managing your money from the palm of your hand, the SoFi app is a great option. SoFi’s mobile app—available on Android and iOS—has most of the features from the browser-based platform, including:&nbsp;</p>



<ul class="wp-block-list">
<li>Stock and ETF trading (automated and self-managed)</li>



<li>Fractional share trading&nbsp;</li>



<li>Exclusive access to IPOs</li>



<li>Funds transfers between accounts</li>



<li>Account activity tracking and review</li>



<li>Open and manage retirement accounts</li>
</ul>



<p>The SoFi app has an Apple App Store rating of 4.8/5 and a Google Play Store rating of 4/5.</p>



<h2 class="wp-block-heading" id="h-sofi-invest-has-a-wealth-of-options-nbsp-nbsp">SoFi Invest Has a Wealth of Options&nbsp;&nbsp;</h2>



<p>SoFi has something for every kind of investor, no matter their risk profile or investment knowledge. With numerous accounts to choose from, tons of types of investments, free advice and a wealth of resources, SoFi Invest is a platform suitable for investors of all stripes.&nbsp;</p>



<p class="has-small-font-size"><em>Photo by sdx15/Shutterstock.</em></p>

SoFi Invest is a tool for both new and experienced investors. Enjoy a user-friendly platform and expert support to meet your financial goals.

SoFi Invest is a tool for both new and experienced investors. Enjoy a user-friendly platform and expert support to meet your financial goals. | SUCCESS

An Overview of SoFi Invest: A Tool to Help Build Your Financial Future

SoFi Invest: A Simple Way to Start Investing | SUCCESS

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Coworkers enjoy drinks at a happy hour work event

Friends,With,Drinks,,Alcohol,And,Relax,,People,Together,At,Work

<p>Alcohol is frequently involved in work events, from corporate summer picnics to networking happy hours and holiday parties. These events usually go smoothly. However, occasionally, someone drinks a bit too much, which can be awkward for everyone involved. The person who went overboard may have some explaining to do the next day.&nbsp;</p>



<p>Diana Bernal, a human resources expert, career strategist and founder of Corner Office Latinas, recalls one woman who got drunk at a work event and did not handle the situation well. “Her name became synonymous with drunken outrageous behavior,” Bernal says. Coworkers frequently commented, “She was such a ‘Claudia’ last night,” or “Don’t be a ‘Claudia,’” Bernal says. That’s “not the legacy you want to leave,” she emphasizes. </p>



<h2 class="wp-block-heading" id="h-work-events-that-involve-drinking-can-be-hard-to-navigate">Work events that involve drinking can be hard to navigate</h2>



<p>Knowing how to handle alcohol at work events may be tricky because “Corporate culture often blurs the line between socializing and networking,” says Patrice Williams-Lindo, a career expert and CEO of Career Nomad. You may feel pressure to drink because your colleagues are walking around with a beer or cocktail. Or, the informal nature of the event may cause you to let down your guard and forget that you are at a work event. If you aren’t careful, a fun night out with coworkers could quickly become an embarrassing, drunken evening.</p>







<p>Often, there are unspoken rules of a <a href="https://successcom.wpenginepowered.com/drinking-with-colleagues/">company’s drinking culture</a>. It’s important to decode your company’s culture so you know what is acceptable, Williams-Lindo says. “Some industries expect alcohol at events” and may be more forgiving if you get a little tipsy, Williams-Lindo says. However, “others quietly judge every sip,” and even a small slipup might be catastrophic for your career, she adds. </p>



<h2 class="wp-block-heading" id="h-if-you-go-overboard-at-a-work-event-get-ahead-of-the-narrative">If you go overboard at a work event, get ahead of the narrative</h2>



<p>If you get drunk at a work event, what you do next is crucial. If you show up to work pretending the incident never happened, you do so at your own risk. “If this lingers as the defining story about you, your credibility will take a hit in promotions, raises and leadership opportunities,” Williams-Lindo warns.&nbsp;</p>



<p>“This isn’t just about drinking. It’s about career survival and reputation management,” Williams-Lindo explains. If you know your behavior was inappropriate, Williams-Lindo suggests addressing it right away. Otherwise, rumors may fly, and the incident may start to seem worse than it was. “Get ahead of the narrative,” Williams-Lindo suggests.</p>



<h2 class="wp-block-heading" id="h-how-to-raise-the-topic">How to raise the topic</h2>



<p>Admitting your mistake may be uncomfortable. However, Williams-Lindo recommends approaching your superiors and any impacted colleagues as soon as possible with a “direct and professional” acknowledgment of your behavior. This is essential because office gossip will determine whether the incident defines you or whether you can shake it off.&nbsp;</p>



<p>When you raise the topic, Williams-Lindo recommends being straightforward without overexplaining. “A quick, ‘I take full responsibility for my behavior, and I want to assure you it won’t happen again’ can neutralize backlash before it escalates,” she says.&nbsp;</p>



<p>If things get uncomfortable, Bernal suggests using humor to deflect the situation. Without making excuses, she recommends trying to elicit a laugh by saying something like, “That’s what I get for skipping dinner!”&nbsp;</p>



<p>However, no matter how awkward these discussions become, it’s essential to take responsibility. “Don’t blame others like the bartender or your coworkers,” she says. </p>



<p>If colleagues want to discuss the incident later, Williams-Lindo suggests shutting the discussion down as soon as possible. Saying, “I made a mistake. I’ve learned from it, and I’m moving forward,” should shut the conversation down quickly and <a href="https://successcom.wpenginepowered.com/how-to-handle-rumors/">stop the cycle of gossip</a>, she says.&nbsp;</p>



<h2 class="wp-block-heading" id="h-focus-on-your-long-term-reputation">Focus on your long-term reputation</h2>



<p>After a drunken incident, you should focus on rehabilitating your reputation in the workplace. “Flip the script” and “focus on long-term reputation recovery,” Williams-Lindo says.&nbsp;</p>



<p>To save your workplace reputation, Williams-Lindo suggests rebranding yourself. She recommends doing whatever it takes to “make your work speak louder than the incident.” Taking <a href="https://successcom.wpenginepowered.com/professional-development-courses/">professional development courses</a> and leading high-profile initiatives can help, she says. “Be visible for the right reasons by stepping up in meetings, delivering flawless work and showing leadership potential,” Williams-Lindo suggests.&nbsp;</p>



<p>Williams-Lindo also stresses the importance of showing that you have learned from your mistakes. Therefore, she recommends skipping drinks altogether at the next work event.&nbsp;</p>



<p>Bernal says that even if you do your best to rehabilitate yourself, your reputation may still be tarnished. If this happens, she recommends not dwelling on it and moving on. No matter how others react, you should focus on being as responsible as possible at work.&nbsp;</p>



<h2 class="wp-block-heading" id="h-what-if-your-supervisor-wants-to-talk-about-the-incident">What if your supervisor wants to talk about the incident?</h2>



<p>When there is any type of incident at work, you may be called into your supervisor’s office to discuss what happened. If you find yourself in this situation, “listen first,” Williams-Lindo says. When it’s your turn to talk, Williams-Lindo recommends keeping your answer concise and taking full responsibility. Responding with a statement such as, “I appreciate the opportunity to move forward, and I’ll ensure my professionalism reflects the company’s standards” may be enough, Williams-Lindo says. According to Bernal, it’s important that you apologize and give a sincere response.&nbsp;</p>



<p>However, if a supervisor or human resources representative brings up termination, formal investigations or misconduct allegations, it’s time to switch course. “At that point, it’s no longer about damage control. It’s about protecting your career,” Williams-Lindo says. Before saying anything else, “an employment attorney or union rep should be your next call,” Williams-Lindo suggests.</p>



<h2 class="wp-block-heading" id="h-how-to-avoid-overindulging-at-a-work-event-in-the-first-place">How to avoid overindulging at a work event in the first place</h2>



<p>If you do drink at work events, Williams-Lindo also suggests setting a limit for yourself. Stopping after two drinks is a good guideline, she recommends. “When in doubt, club soda with lime is your best friend,” Williams-Lindo says.</p>



<p>If you don’t trust yourself around alcohol but feel obligated to show up to the next work event where alcohol is being served, Bernal suggests arriving late or leaving early “so there is less time for you to drink.”</p>



<p>Moreover, Williams-Lindo cautions everyone to remember, “Work events are work. No matter how casual the vibe, leaders are always evaluating who’s ready for the next big opportunity. Don’t let one reckless night take you out of the game.”</p>



<p class="has-small-font-size"><em>Photo by PeopleImages.com - Yuri A</em>/<em>Shutterstock.</em></p>

Jamie Davis Smith

If you drank a bit too much at your last work event, here are expert-backed tips to overcome awkwardness and salvage your work reputation.

If you drank a bit too much at your last work event, here are expert-backed tips to overcome awkwardness and salvage your work reputation. | SUCCESS

How to Save Your Reputation If You Overdrink at a Work Event

Drank Too Much At a Work Event? What to Do Next | SUCCESS

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The best business partners always have your back and display true loyalty

<p>What does it mean to be loyal? Although it’s often defined as support or allegiance, loyalty could be described as invisible glue. It can’t be seen, but it’s a force that can bind people together. Often, it’s discussed in the vein of romantic relationships or friendships, because it’s essential to these types of connections. These bonds are fueled by that dedication, mutual respect, honesty—and above all else—the simple act of <a href="https://successcom.wpenginepowered.com/accountability-quotes/">being there for one another, come rain or shine.</a></p>



<p>Loyalty can also be a powerful force in other relationships, though, as well as organizations or ideologies. You can be loyal to your job and co-workers. You can show loyalty toward your country or religion. You can be loyal to a specific social cause or even to a sports team (despite their disheartening losing streak).&nbsp;</p>



<p>We’ve gathered a robust list of loyalty quotes that help define the role it plays in all areas of our lives. They can inspire us to form more meaningful, trustworthy relationships and to continue nurturing our devotion for the things that really matter.&nbsp;</p>







<h2 class="wp-block-heading" id="h-meaningful-loyalty-quotes-to-make-us-think">Meaningful Loyalty Quotes to Make Us Think</h2>



<p>We’re starting off strong with a batch of loyalty and respect quotes. These thought-provoking sayings discuss the topic of loyalty from every angle. Author John Grogan shares what we can learn from the trait of a dog’s unconditional love, while others explain what it looks like to be loyal to those around you. Some even explore the potential difficulties that can arise from blind loyalty. No matter the stance, these famous quotes on loyalty are bound to make you stop and ponder.</p>



<ul class="wp-block-list">
<li>“If put to the pinch, an ounce of loyalty is worth a pound of cleverness.” —<em>Elbert Hubbard</em>, Get Out or Get in Line&nbsp;</li>



<li>“‘A person can learn a lot from a dog, even a loopy one like ours, ’ I wrote. ‘Marley taught me about living each day with unbridled exuberance and joy, about seizing the moment and following your heart. He taught me to appreciate the simple things—a walk in the woods, a fresh snowfall, a nap in a shaft of winter sunlight. And as he grew old and achy, he taught me about optimism in the face of adversity. Mostly, he taught me about friendship and selflessness and, above all else, unwavering loyalty.’” —<em>John Grogan</em>, Marley and Me&nbsp;</li>



<li>“All that comes from bribes or injustice will be wiped out, but loyalty remains for ages.” —New American Bible, Sirach 40:12</li>



<li>“Without a central loyalty life is unfinished.” —<em>Fulton J. Sheen</em>, Seven Words of Jesus and Mary&nbsp;</li>



<li>“As I’m getting older, I’m really learning unconditional love and loyalty are extremely important.” —<em>Bindi Irwin</em></li>



<li>“Loyalty is being there for someone. It’s selfless. It’s about standing by someone’s side even when you don’t want to.” —<em>Julie Murphy</em>, Dumplin’: Go Big or Go Home</li>
</ul>







<ul class="wp-block-list">
<li>“There are few words that are harder to explain than ‘loyalty.’ It’s always regarded as a positive characteristic, because a lot of people would say that many of the best things people do for each other occur precisely because of loyalty. The only problem is that many of the very worst things we do to each other occur because of the same thing.” —<em>Fredrik Backman</em>, Beartown&nbsp;</li>



<li>“I'd probably tell you that it's easier to desire and pursue the attention of tens of millions of total strangers than it is to accept the love and loyalty of the people closest to us.” —<em>William Gibson</em>, Idoru</li>



<li>“Sometimes, loyalty gets in the way of what you want to do. Sometimes, it’s not your secret to tell.” —<em>Stephenie Meyer</em>, New Moon&nbsp;</li>



<li>“Be loyal to what you love, be true to the Earth, fight your enemies with passion and laughter.” —<em>Edward Abbey</em></li>



<li>“​​My whole thing is loyalty. Loyalty over royalty, word is bond.” —<em>Fetty Wap</em></li>



<li>“Loyalty is the will to believe in something eternal, and to express that belief in the practical life of a human being.” —<em>Josiah Royce</em>, The Philosophy of Loyalty&nbsp;</li>
</ul>



<p><strong><em>Related: </em></strong><a href="https://successcom.wpenginepowered.com/consistency-quotes/">40 Consistency Quotes to Help Kick-Start Your Future</a></p>



<h2 class="wp-block-heading" id="h-powerful-quotes-about-loyalty-honesty-amp-trust">Powerful Quotes About Loyalty, Honesty &amp; Trust</h2>



<p>Loyalty, honesty, trust. All three are closely integrated and are a <a href="https://www.verywellmind.com/loyalty-characteristics-benefits-and-drawbacks-5270178">vital part</a> of successful relationships—from friendships to romantic partnerships to work alliances. Typically, it all starts with honesty. When you are truthful and dependable—continuing to show up every day and do the things you said you were going to do—that can build trust. Over time, continued honesty and trust can create loyalty, especially when paired with shared values and genuine care. The following quotes for loyalty and trust dive even deeper into the complex relationship between these ideals.&nbsp;</p>



<ul class="wp-block-list">
<li>“Honesty and loyalty are key. If two people can be honest with each other about everything, that’s probably the biggest key to success.” —<em>Taylor Lautner</em></li>



<li>“The foundation stones for a balanced success are honesty, character, integrity, faith, love and loyalty.” —<em>Zig Ziglar</em></li>



<li>“Loyalty is a noble quality, so long as it is not blind and does not exclude the higher loyalty to truth and decency.” —<em>B.H. Liddell Hart</em>, Why Don’t We Learn From History&nbsp;</li>



<li>“Passion, friendship, love, loyalty, trust… if you found the right person… you really could have it all.” —<em>S.C. Stephens</em>, Reckless</li>



<li>“Speaking truth to power is actually a form of loyalty.” —<em>Richard N. Haass</em></li>
</ul>







<ul class="wp-block-list">
<li>&nbsp;“Loyalty is my motto. When I give my word, you can trust me.” —<em>Philippa Gregory</em>, The Kingmaker’s Daughter</li>



<li>“One of the most important ways to manifest integrity is to be loyal to those who are not present. In doing so, we build the trust of those who are present.” —<em>Stephen R. Covey</em></li>



<li>“Everybody wants loyalty, consistency and somebody who won’t quit. But everybody forgets that to get that person, you have to be that person.” —<em>Natalie O’Rourke</em></li>



<li>“I prefer honesty over loyalty any day, because with honesty comes loyalty.” —<em>Colleen Hoover</em>, It Starts With Us&nbsp;</li>
</ul>



<p><strong><em>Related: </em></strong><a href="https://successcom.wpenginepowered.com/30-inspiring-quotes-about-never-giving-up/">30 Inspiring Quotes About Never Giving Up</a></p>



<h2 class="wp-block-heading" id="h-short-sayings-on-being-loyal">Short Sayings On Being Loyal</h2>



<p>In simple terms, loyalty is the feeling of devotion toward a person or cause. But it’s much more complex than that. The actions that support this feeling are critical. True loyalty involves not just saying you’re loyal, but demonstrating it through action. Mutual loyalty also involves reciprocation, and loyalty is often tied to that mutuality. These short loyalty quotes, written by SUCCESS® contributors, help to further define this message and demonstrate what it means to be loyal.&nbsp;</p>



<ul class="wp-block-list">
<li>“Loyal people are the best kind of people.”</li>



<li>“True loyalty stands the test of time and weathers the storms.”</li>



<li>“Once loyalty is built, do everything in your power to keep it.”&nbsp;</li>



<li>“At the end of the day, it’s the people who were there for you when no one else was who matter most.”</li>
</ul>







<ul class="wp-block-list">
<li>“Success in relationships, work and life starts with loyalty.”</li>



<li>“Without loyalty, people are wild and aimless.”</li>



<li>“The people and things you are loyal to say multitudes about your character.”</li>



<li>“Surround yourself with trust and loyalty. You never know when you’ll desperately need that kind of support.”&nbsp;</li>



<li>“Love without loyalty is hopeless.”</li>



<li>“Loyalty means standing by with confetti to celebrate the highs and tissues to get through the lows.”&nbsp;</li>
</ul>



<h2 class="wp-block-heading" id="h-uplifting-quotes-about-friends-loyalty-nbsp">Uplifting Quotes About Friends’ Loyalty&nbsp;</h2>



<p>Friends are the people we <em>choose</em> to share our lives with. They aren’t tied to us the way family is or imposed on us the way co-workers often are. That’s what makes friends so special, and one of the best ways to preserve these connections is through loyalty. This means supporting friends through the highs and lows and treating them with respect. We can build trust through honesty and dependability. The following “being loyal” quotes teach us even more about the value of true, genuine friendship.</p>



<ul class="wp-block-list">
<li>“It’s easy to be loyal to those you love.” —<em>Christianna Brand</em>, Green for Danger</li>



<li>“I belong to the people I love, and they belong to me—they, and the love and loyalty I give them, form my identity far more than any word or group ever could.” —<em>Veronica Roth</em>, Allegiant</li>



<li>“We have to recognise that there cannot be relationships unless there is commitment, unless there is loyalty, unless there is love, patience, persistence.” —<em>Bell Hooks,</em> <em>Cornel West</em>, Breaking Bread</li>



<li>“​​There’s nothing like a really loyal, dependable, good friend. Nothing.” —<em>Jennifer Aniston</em></li>



<li>“There is nothing I would not do for those who are really my friends. I have no notion of loving people by halves, it is not my nature.” —<em>Jane Austen</em>, Northanger Abbey</li>



<li>“Loyalty and friendship, which is to me the same, created all the wealth that I've ever thought I'd have.” —<em>Ernie Banks</em></li>
</ul>







<ul class="wp-block-list">
<li>“Regard him as loyal, and you will make him loyal.” —<em>Lucius Annaeus Seneca, </em>Moral Letters to Lucilius</li>



<li>“Loyalty to a friend is a virtue—perhaps the only virtue, the last remaining one.” —<em>Milan Kundera</em>, Encounter</li>



<li>“You cannot get me to be disloyal to a friend. You just can't do it. Loyalty is a part of what I live by. I didn't say I was going to be loyal to my friend because he was right. I'm going to be loyal to my friend because he's my friend.” —<em>Jim Brown</em></li>



<li>“Love is friendship that has caught fire. It is quiet understanding, mutual confidence, sharing and forgiving. It is loyalty through good and bad times. It settles for less than perfection and makes allowances for human weaknesses.” —<em>Ann Landers</em></li>



<li>“Without loyalty there can be no love. Without loyalty there can be no family. Without loyalty there can be no friendship. Without loyalty there can be no commitment to community or country. And without those things, there can be no society.” —<em>Eric Felten</em>, Loyalty: The Vexing Virtue</li>
</ul>



<h2 class="wp-block-heading" id="h-loyalty-quotes-for-work-business-amp-leadership-from-success">Loyalty Quotes for Work, Business &amp; Leadership From SUCCESS®</h2>



<p>The word loyalty pops up frequently in the business world. There is such a thing as brand loyalty, or product loyalty, that relates to consumers. On the opposite side, loyalty also needs to exist within a company for it to flourish. There is something powerful about a group of people trusting one another and working together toward a common goal. These business loyalty quotes from SUCCESS® further divulge what it means to be devoted to a company’s mission and how leaders can inspire loyalty through their own actions. However, they also warn against being too faithful to a company that may not have your back in return.&nbsp;</p>



<ul class="wp-block-list">
<li>“Just as true loyalty comes from feelings deep inside you, the power to inspire loyalty comes from deep inside as well. It’s fundamentally a question of the kind of person you choose to be.”<em> —Sandy Rogers, Shawn Moon, Leena Rinne</em></li>



<li>“I do not see how anyone can attain true peace of mind without having something to which they must show loyalty; someone to whom they must express loyalty at all times.” —<em>John Wooden</em></li>
</ul>







<ul class="wp-block-list">
<li>“Successful remote work needs to be supported by a lot of systems to combat proximity bias, ensure effective communication and build a sense of community and loyalty, and the truth is not every company can pull it off.” —<em>Corina Ocanto</em></li>



<li>“In sales, you should be the first to commit to the relationship, as a form of ‘paying it forward’ and betting on a good outcome. One way to assure that a relationship has high value is to give high value to it. If you want to be seen as important to the other person, then they need to see the benefits that come from staying connected with you. You can almost guarantee increased customer loyalty in your business when you practice this way.”<em> </em><em>—Jim Cathcart</em></li>



<li>“Loyalty is everything. A company is built on people. If you don’t have people you can trust—people who are going to be loyal to you and your brand—you have nothing.”<em> </em><em>—Elizabeth Chambers</em></li>
</ul>



<h2 class="wp-block-heading" id="h-build-trust-amp-deeper-connections-with-loyalty-quotes">Build Trust &amp; Deeper Connections With Loyalty Quotes</h2>



<p>To be loyal is to be steadfast in your commitments, standing by people, causes and values regardless of challenges. When we consistently show up for people and present them with honesty and loyalty, they may be <a href="https://www.verywellmind.com/what-is-the-rule-of-reciprocity-2795891" target="_blank" rel="noreferrer noopener">more likely to mirror that same behavior</a>. This can build trust and deeper connections that can stand the test of time. Whether in friendships, love, work or society, loyalty is a thread that ties us together and helps us frame our lives in more meaningful ways.</p>



<p class="has-small-font-size"><em>Photo by PeopleImages.com - Yuri A/Shutterstock.</em></p>