In the dynamic landscape of modern business, the concepts of ethics and sustainability have become increasingly pivotal. Responsible entrepreneurship goes beyond profit margins; it is committed to ethical conduct and sustainable practices. Let’s delve into why business ethics and sustainability are the cornerstones of responsible entrepreneurship and how they contribute to long-term success.

 

1. Upholding Business Ethics:

Ethical conduct is the foundation upon which trust and credibility are built. Entrepreneurs who prioritize ethics in their business dealings establish strong, lasting relationships with customers, partners, and employees. Upholding honesty, integrity, and fairness in all transactions fosters a positive reputation, attracting loyal customers and investors. Ethical businesses are more likely to weather challenges and crises as their stakeholders have confidence in their commitment to doing the right thing.

 

2. Fostering Sustainable Practices:

Sustainability in business encompasses environmental, social, and economic considerations. Entrepreneurs embracing sustainability focus on minimizing their ecological footprint, supporting their communities, and ensuring long-term profitability. Sustainable practices include reducing waste, conserving resources, adopting renewable energy sources, and engaging in philanthropic initiatives. By adopting sustainable practices, businesses contribute to environmental conservation and appeal to environmentally conscious consumers, gaining a competitive advantage.

 

3. Enhancing Brand Reputation:

A business’s reputation is one of its most valuable assets. Ethical behavior and sustainability initiatives bolster brand reputation significantly. Consumers are increasingly conscientious about the companies they support, preferring those that align with their values. A positive reputation for ethical conduct and sustainable practices attracts customers and enhances employee morale, making it easier to attract and retain top talent.

 

4. Meeting Legal and Regulatory Requirements:

Adhering to ethical standards and sustainable practices ensures compliance with legal and regulatory requirements. Many countries have stringent regulations related to environmental impact, labor practices, and business ethics. Entrepreneurs prioritizing ethics and sustainability are well-positioned to meet these requirements, avoiding legal troubles and potential penalties.

 

5. Long-Term Business Resilience:

Businesses built on ethical foundations and sustainable practices are more resilient in economic downturns and market fluctuations. By fostering solid relationships with stakeholders, implementing responsible procedures, and contributing positively to their communities, these businesses establish a solid foundation that helps them navigate challenges.

 

Responsible entrepreneurship grounded in business ethics and sustainability is a moral obligation and a strategic imperative. Entrepreneurs embracing these principles create businesses that are both financially successful and socially and environmentally responsible.

via Adam Berman Attorney | Business & Development https://ift.tt/ejgfUr8

By Tim Elmore

 

I once mentored a student named Rick who could have been voted by his classmates: The Least Likely to Become a Leader. He was unassuming, never assertive, quiet, and even introverted. In fact, I scared him the first time I suggested he should lead a group of peers. When he balked, I knew I needed to step back, slow down, and encourage him through a stage-by-stage process. 

• First, I encouraged him to merely join a study group and participate in a community.
• Second, I invited him to join a training experience to give him exposure to leadership.
• Then, I encouraged him to help me make some decisions on our larger objective.
• Next, I asked him to apprentice alongside a leader and watch her lead a group.
• Finally, I invited him to lead a team and provided ongoing evaluation to guide him.

 

Rick’s story has been multiplied thousands of times over my career. In fact, I’ve given my life to the task of nurturing young people into leadership. I’ve tried to help kids see themselves as a leader, an influencer who commits to solving problems and serving people. Once they realize that leadership is less about a position and more about a disposition, the light bulb goes on.

 

So, what are the fundamentals to make this happen?

 

The Essential Ingredients

When we bake a chocolate cake, we know there are essential ingredients that make the recipe work. For that matter, baking or cooking anything tasty is not random. There are fundamental ingredients that must be added to reach a flavorful outcome. Similarly, when I see leaders cultivating healthy, young leaders out of students, there are four ingredients that always go into the recipe. I see four elements in the process that I call The Big IDEA. 

 

The Big IDEA

I — Instruction

Leaders must provide verbal insights and explanations through discussion. This furnishes teams with insights into both the “why” as well as the “what.” This interaction can happen in classrooms or anywhere with a goal of guiding their discovery process. We use images, metaphors, and memorable phrases (Habitudes®) that summarize concepts. People need conversations.

 

D — Demonstration 

Leaders must find ways to model what the insight looks like in real life. This furnishes students with confidence and vision. This example can be as simple as watching someone—in person or on video—practicing the concept they must learn. It is an important element because people do what people see. It’s caught as well as taught. People need observation.

 

E — Experience 

Leaders must turn teens loose to practice the insight on their own, to apply the knowledge. This builds skills and abilities. I believe learning isn’t complete until they have executed tasks for themselves. This process ensures that theory becomes practice. If students lack experience today, it’s often because we fear they won’t execute it perfectly. We must push past that fear and let them practice. People need application. 

 

A — Assessment 

Leaders must take time to debrief and evaluate the learning outcomes with teens. This furnishes them with wisdom and perspective. I don’t believe experience is the best teacher; I believe experience plus evaluation is the best teacher. We must take time to assess what happened so that people gain helpful insight from their practice. They need evaluation.

 

If Rick could talk to you, he would affirm that this process was what helped him move from an ordinary student to a growing leader. 

 

When I moved from San Diego, Rick not only had led study groups for years, but he was also leading all of the study group leaders. He had multiplied his influence. Through repetition, he recognized he was pretty good at solving problems and serving people. The fact is, leadership matters and it matters disproportionately. 

 

Let’s go build a new generation of leaders.

 

 If this topic energizes you, check out our digital resource:

Habitudes for Building Student Leaders.

 

 

The post Four Ideas to Cultivate Young Leaders appeared first on Growing Leaders.

via Growing Leaders https://ift.tt/DkGs8oS

Investing in commercial real estate can be lucrative, but finding the right deal is crucial for success. Identifying great deals in the commercial real estate market requires a keen eye, thorough research, and a strategic approach. Here are some essential tips to help you identify and seize great deals in commercial real estate.

 

1. Location, Location, Location: One of the fundamental principles in real estate is the significance of location. In commercial real estate, a prime location can significantly affect the value and potential return on investment. Look for properties with high foot traffic, good visibility, and accessibility. Proximity to public transportation and major highways can also enhance the property’s appeal to potential tenants.

 

2. Market Research: Comprehensive market research is indispensable when identifying a great deal. Analyze market trends, vacancy rates, rental prices, and economic forecasts for the area. Understanding the local market dynamics will help you assess the property’s potential for growth and profitability.

 

3. Physical Condition: Thoroughly inspect the physical condition of the property. Structural integrity, maintenance needs, and the potential for renovations or improvements are crucial factors to consider. Properties that require minor cosmetic fixes might offer excellent opportunities for value appreciation with relatively low investment.

 

4. Financial Analysis: Conduct a meticulous financial analysis of the property. Evaluate the potential rental income, operating expenses, and overall cash flow. Cap rate, which is the ratio between the property’s net operating income and its current market value, can provide valuable insights into the property’s profitability. Additionally, consider property taxes, insurance, and maintenance expenses when calculating the property’s financial viability.

 

5. Potential for Value Addition: Great deals often come with the potential for value addition. This could involve repurposing the property, renovating to attract higher-paying tenants, or optimizing the space for increased occupancy. Identifying properties with untapped potential allows you to add value and maximize your return on investment.

 

6. Networking and Professional Support: Establish a strong network within the real estate industry. Networking with other investors, real estate agents, and property managers can provide valuable leads and insights. Additionally, consider seeking professional support from real estate experts, financial advisors, and legal consultants to ensure you make informed decisions.

 

Identifying great deals in commercial real estate demands a combination of market knowledge, financial analysis, and networking skills. By focusing on prime locations, conducting thorough research, assessing the property’s condition, and seeking professional guidance, you can identify and capitalize on lucrative opportunities in the commercial real estate market. Remember, a well-informed investment decision today can pave the way for substantial returns in the future.

 

via Adam Berman Attorney | Real Estate https://ift.tt/AtdBzcr

By Tim Elmore

 

Back in 2006, musician John Mayer released a song for millions of twenty-first century young adults. It was called, “Waiting on the World to Change.” 

 

While the tempo is upbeat and cheerful, the lyrics represent a melancholy, even despondent mood. They express a powerlessness to make any difference; that the power lies with “the man.” So, our job, Mayer notes, is to wait for the needed change. Instead of taking charge of our lives, we’re encouraged to just wait for external change to happen. 

 

This may explain the cynical, even jaded, mood of millions from Generation Z.

 

A Shift in Culture 

Over the last sixty years, young people have slowly drifted toward this mindset. Research psychologist, Dr. Julian Rotter, created a scale to measure whether graduates were entering their careers with an external or internal locus of control. Here’s what he measured: 

 

• Internal locus of control represents a mindset that believes that you are responsible and in control of your own success. 
• External locus of control represents a mindset which believes that somehow fate or external forces control your outcomes. 

 

Interestingly, nine years into his research, Dr. Rotter discovered that those who maintain an internal locus of control become measurably more successful in life. They take better care of their health and fitness, their marriage and family, their job and career. It makes sense. If we believe our success is up to us, we take ownership of our behavior and attitude. This is good news. The bad news, however, is sobering. Since Julian Rotter first administered these evaluations in 1954, students have shifted toward an external locus of control. They’re looking outward to someone else to ensure their success—mom, dad, employer, counselor, or coach. 

 

We can only assume why this might be. Perhaps students are scared or uncertain about life. It might be that they’re simply overwhelmed. Maybe they think no one is really in control. This, however, leads to feeling like someone else owes you. 

 

Are We Benchwarmers?

Consider this: We approach life either as players in the game or substitutes on the bench. 

Athletes feel something completely different based on whether they are in the competition or on the bench during a tough game. From the bench, you can yell and scream, stand up, or squeeze a towel in your hands, but that’s it. You can’t directly impact the outcome when you’re not actually playing. It’s only when you’re in the game, playing, that you feel different. 

 

The key shifts we must help students make to return to an internal locus of control are:

 

1. How they see their life (their perception).
2. How they approach their life (their practice).

 

They must stop looking at externals that may go wrong. That’s not in their control. Life will give us lemons, as they say. Where students must focus is how they perceive it all, concentrating on their responses to the lemons, not the lemons themselves. That’s in their control. Once they nail their perception of life, maintaining a “control the controllable” mindset, life gets better. 

 

Next, they must act in response to that internal mindset.  

 

Arthur Brooks, one of my favorite authors, recently released a book called Build the Life You Want. In it, he tells the story of his mother-in-law who, at age 93, was one of the happiest people he’d ever known. Her name was Alpina, and she lived in her room alone, impoverished, and dying after a long life. But she was happy. The reason? Somehow, at age 45, “she stopped waiting for the world to change and took control of her life.”

 

How Do We Do This?

First, Alpina began to look for decisions in her life where once there were only impositions. For example, Alpina once felt she was stuck in a bad job at a pitiful company. Then she awakened to the fact that she’d been CEO all along. She couldn’t snap her fingers and all would be perfect, but she had power over her own life wherever it was, embracing an internal locus of control. 

 

Second, she took action based on that realization. She switched from wishing others were different to working on the one person she could control: herself. The choices she made, not her feelings at the time, led her to transform less productive emotions into positive ones like humor, gratitude, hope, and compassion. Happiness was not a chase but a choice.

 

Third, managing herself freed Alpina to focus on the foundations on which she could construct a much better life: her family, her friendships, her work, and her faith. Instead of numbing the pain anyone can feel inside, these types of people think and act differently. Oprah Winfrey calls them the “people who have every reason to be unhappy and yet are not.” They’re the “lemonade-making, silver-linings-finding, bright-side-looking, glass-half-fullers.”

 

This completely removes the chore of waiting for the world to change.

 

Want a resource that highlights how kids can change their worlds? Growing Leaders and Maxwell Publishing launched a collection of stories called I Can’t Wait: 52 Stories of Kids Who Changed Their World…That You Can Discuss Together. These short stories make up 52 chapters, one a week for an entire year. They’re perfect for class time, dinnertime, or bedtime. They include discussion questions and a link to a video about the young person in that chapter. To be honest, I can’t wait to put this book in your hands to better launch conversations at dinnertime, bedtime, or in the classroom. They will engage and inspire the kids near you. This could be a great gift during the holidays. To learn more about this amazing resource, visit icantwaitbook.com.  

 

The post Teaching Students to Stop Waiting for the World to Change appeared first on Growing Leaders.

via Growing Leaders https://ift.tt/OWGTtou