A Few Words From Greg: By creating a business journal we hope to make the lives of our subscribers easier and their wisdom of things more expansive. Though it is impossible to print everything anyone needs, the high-lighted articles presented are an attempt to touch on things urgent, useful and entertaining, while being relevant for nearly every industry. We see people every day who show an infectious excitement for life. Often we wonder if they’ve won the lottery or are simply missing a few marbles. If we stop to talk to them we find out neither of those things is the inspiration for the positive attitude. Something good happened and their faces can’t hold the secret. These are usually the people who were inspired by someone or something else. They could read, "If you don't go after what you want, you'll never get it. If you don’t ask, the answer is always ‘no’. If you never step forward, you're always in the same place." And believe the message was meant especially for them. Those are people we meet or read about that helps to select the articles you see in the Southern Oregon Business Journal. It’s an honor to know them as they add purpose to what we are able to do. It is our sincere wish that you gain from the articles and stories printed here. Please forward this electronic copy of the journal on to your friends and business connections. Since there is no charge to be a subscriber the value is truly undeniable; though I believe the articles could prove to be the asset someone needs to truly succeed and worth a business fortune. May you enjoy the day with enthusiasm others feel, Greg Henderson, Publisher greg@southernoregonbusiness.com
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Contents
April 15th, 2016
featured story 15 Family Wealth & Climbing the Income Ladder: The Well-Off Prevail
features 3 Cloud Computing Enables Business Scalibility & Flexibility 5 Gross Domestic Product by State, 3rd quarter 2015 7 In Search of a Second Act: The Challenges & Advantages of Senior Entrepreneurship 11 Checkered Flags & Fly-Reels 13 The Miracle Minute: The Likability Factor 14 Considering The Necessity Of SocioPolitcal Division
18 Eight
Bad Habits Great Leaders Know to Break
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Cloud Computing Enables Business
Scalability & Flexibility by Rick Blaisdell www.rickscloud.com
The Most Common Meaning
of the term cloud computing refers to the delivery of scalable IT resources over the Internet as opposed to hosting and operating those resources locally. Cloud computing enables your company to react faster to the needs of your business, while driving greater operational efficiencies.
Impact of Scalability on Managed Data Centers: Because of the highly scalable nature of cloud computing, many organizations are now relying on managed data centers where there are cloud experts trained in maintaining and scaling shared, private and hybrid clouds. Cloud computing allows for quick and easy allocation of resources in a monitored environment where overloading is never a concern as long as the system is managed properly. From small companies to large enterprise companies, managed data centers can be an option for your business.
Cloud computing has a great impact on business thinking. It facilitates a change in the way companies operate, by offering shared and virtualized infrastructure that is easily scalable. It is also changing how we manage these Private Cloud Computing: is a solution for scalresources. The challenge is no longer about how many able, customized and secure resources where control has physical servers a company has, but more about being to reside with your internal IT department. able to manage these virtual resources. Beyond the improvements on business flexibility and Cloud computing offers businesses flexibility & scalability, cloud computing has fundamentally changed scalability when it comes to computing needs: the way we pay for resources. In the past, tasks that required considerable processing power or space needed Flexibility: Cloud computing allows your employees significant capital investments in the necessary hardto be more flexible – both in and out of the workplace. ware. Now, cloud computing allows these users to purEmployees can access files using web-enabled devices such chase scalable space for heavy duty data crunching on as smartphones, laptops and notebooks. The ability to si- demand, paying for only what they use. multaneously share documents and other files over the Internet can also help support both internal and external Moreover, a new report by the Software & Information collaboration. Many employers are now implementing Industry Association, which includes opinions of 49 “bring your own device (BYOD)” policies. In this way, technology CXOs and VPs, notes that cloud computing’s cloud computing enables the use of mobile technology. impact grows even more significant when coupled with mobile and big data analytics. Scalability: One of the key benefits of using cloud computing is its scalability. Cloud computing allows From infrastructure, to mobility, virtualization, and your business to easily upscale or downscale your IT re- on-demand applications, the true value of cloud is makquirements as and when required. For example, most ing its presence known throughout the entire IT ecosyscloud service providers will allow you to increase your tem. Companies will continue to make infrastructure existing resources to accommodate increased business choices, either with or without cloud capabilities, but needs or changes. This will allow you to support your cloud solutions will continue to offer competitive advanbusiness growth without expensive changes to your ex- tages over traditional solutions. isting IT systems. 3
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"Retail Trade Led Growth Across States in the Third Quarter" Wednesday, March 2, 2016
Gross Domestic Product by State, 3rd quarter 2015
49 states and the District of Columbia. North Dakota was the lone exception. Health care and social assistance contributed more than half a percentage point to real GDP growth in Maine, Wisconsin, Arizona, and Indiana. • Agriculture, forestry, fishing, and hunting grew 37.5 percent in the third quarter of 2015. This industry contributed 0.36 percentage point to real GDP growth for the nation and was the largest contributor to real GDP growth in the Plains region. Agriculture, forestry, fishing, and hunting contributed 6.91 percentage
Real gross domestic product (GDP) increased in 47 states
points to real GDP growth in South Dakota, 5.41 per-
and the District of Columbia in the third quarter of 2015,
centage points to growth in Kansas, and 4.79 percent-
according to statistics on the geographic breakout of GDP
age points to growth in Nebraska.
released today by the Bureau of Economic Analysis. Overall, U.S. real GDP by state growth slowed to an annual rate
Other Highlights:
of 1.9 percent in the third quarter of 2015 after increasing 3.8 percent in the second quarter. Retail trade; health care
• South Dakota, the fastest growing state in the na-
and social assistance; and agriculture, forestry, fishing, and
tion, grew 9.2 percent in the third quarter of 2015. Ag-
hunting were the leading contributors to real U.S. economic riculture, forestry, fishing, and hunting was the largest contributor to the state’s growth. growth in the third quarter. • Retail trade grew 7.1 percent in the third quarter of 2015.
• Wholesale trade declined 5.8 percent in the third
This industry contributed 0.41 percentage point to U.S. real
quarter after an increase in the second quarter of 2015.
GDP growth and contributed to growth in 49 states and the This industry subtracted 0.36 percentage point from District of Columbia. Nevada was the lone exception. Retail
U.S. real GDP growth and subtracted from growth in
trade was the leading contributor to growth in 13 states and
every state and the District of Columbia.
contributed 0.63 percentage point to real GDP growth in Arizona and 0.62 percentage point to real GDP growth in
Mining Declined 8.3 Percent
Washington.
for the nation in the third quarter of 2015. This indus-
• Health care and social assistance grew 5.5 percent in the third quarter of 2015. This industry contributed 0.39 percentage point to U.S. real GDP growth and contributed to growth in 5
try slowed growth in most mining states and subtracted more than a percentage point from real GDP growth in North Dakota, West Virginia, Oklahoma, and Wyoming.
Tourism Employment: Employment growth in the travel and tourism industries decelerated, increasing 1.6 percent in the fourth quarter of 2015 after increasing 2.2 percent in the third quarter. In comparison, overall U.S. employment increased 2.0 percent in the fourth quarter after increasing 1.9 percent (revised) in the third quarter. Transportation was the most significant contributor to the slow down, increasing 0.8 percent in the fourth quarter, after increasing 2.8 percent in the third quarter. For the year 2015, employment in the travel and tourism industries increased 2.6 percent after increasing 2.5 percent in 2014. Total Tourism-Related Output was $1.6 trillion in the fourth quarter of 2015. It consisted of $919.4 billion (58 percent) of direct tourism spending and $668.9 billion (42 percent) of indirect tourism-related spending. Total Tourism-Related Employment was 8.1 million jobs in the fourth quarter of 2015, comprising 5.7 million (70 percent) direct tourism jobs and 2.4 million (30 percent) indirect tourism-related jobs. 6
In Search of a Second Act:
-
The Challenges and Advantages of Senior Entrepreneurship
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By Dane Stangler 02/12/14
"Testimony Before the U.S. Senate Special Committee on Aging and the Senate Committee on Small Business and Entrepreneurship Contrary to popular perception, entrepreneurship is not exclusive to the young and hip."
Chairman Nelson, Chair Landrieu, Ranking Member
Collins, Ranking Member Risch, and members of the Aging and Small Business and Entrepreneurship Committees, thank you for the opportunity to present data gathered by the Ewing Marion Kauffman Foundation on senior entrepreneurship. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Kauffman Foundation is a private, nonpartisan foundation based in Kansas City, Missouri that aims to foster economic independence by advancing educational achievement and entrepreneurial success.
At the Kauffman Foundation, we believe in the power of entrepreneurship to not only change individual lives, but to also create economic opportunities for many others in society. Contrary to popular perception, entrepreneurship is not exclusive to the young and hip. Entrepreneurs of all ages start businesses and create economic opportunity for themselves and others. Last year, for example, businesses started by those ages 55 to 64 accounted for nearly one-quarter of all new businesses started. That share has risen from 14 percent in 1996, according to the Kauffman Index of Entrepreneurial Activity, which captures business owners in their first month of significant business activity. In the context of America's aging population, an increasing share of entrepreneurship among this population is perhaps not surprising. 8
What might be more startling to many observers is that Americans in the 55-64 age group start new businesses at a higher rate than those in their twenties and thirties. This has been true, by the way, in every single year from 1996 to 2013. While senior entrepreneurs make up a sizeable portion of all entrepreneurs and tend to start businesses at a rate comparable to or higher than younger entrepreneurs, there are possibly some reasons to temper our enthusiasm about this phenomenon. First, we are unsure of the types of businesses being founded by older entrepreneurs or their hiring practices — more cynical observers say that this group only starts consulting companies or use self-employment for supplemental income. This is undoubtedly true for some share of older entrepreneurs. Yet other evidence indicates that we find founders of technology companies in their fifties and sixties as well: one study found more tech founders over age 50 than under age 30.4 Of more concern perhaps is the lingering effect of the Great Recession and the decimation of retirement plans and housing wealth. To the extent this damage fell on Americans over age 55, self-employment may be seen as a way to recover nest egg losses. Finally, with concern about Americans over age 55 permanently leaving the labor force after the recession, it is possible that older entrepreneurship rates could be suppressed. Nevertheless, there are more reasons for optimism than pessimism about entrepreneurship among older Americans. First, senior entrepreneurs are likely to have greater experience than younger entrepreneurs. That experience, whether professionally or personally, can prove valuable when starting a new business. Secondly, perhaps paradoxically, senior entrepreneurs may have fewer concerns about setting up a business. In their paper on entrepreneurs over the age of 50 in the United Kingdom, Ron Botham and Andrew Graves found that older entrepreneurs were "less likely to worry about risks, experience, or family life than younger founders." Third, despite the effects of the recession, senior entrepreneurs may be more financially secure 9
than younger entrepreneurs and may have an alternative source of income — either from retirement savings, a pension, or Social Security. This added financial security can make the financial risks of starting a business less salient. Finally, we might expect a higher preponderance of serial entrepreneurs among those in their fifties and sixties, which could mean greater success rates. A 2012 Kauffman Foundation and LegalZoom survey of 1,400 business owners who incorporated their business through LegalZoom in 2012 found two-thirds of respondents over age 60 had previously started a company and ten percent of these entrepreneurs had started 5 prior companies. Research suggests that there are several ways policymakers could support this very important phenomenon of older entrepreneurship. Lower barriers to entry in general, for example, would make business creation easier. Licensing barriers in several sectors — which exist mostly at the state and local level — also suppress business creation. The complexity — though not necessarily the level — of taxes can also act as a barrier to entrepreneurship. These, of course, apply to entrepreneurs of all ages. For senior entrepreneurship, flexible labor markets are especially important. The idea of spending forty years at one job and retiring with a gold watch is quickly fading in the United States. Even when Americans retire at age 65, they can expect to live healthily for another two or three decades. Moving easily between self-employment, wage-and-salary employment, and entrepreneurship requires flexible labor markets. This may be especially important for senior entrepreneurship as research has shown that senior entrepreneurs are much more likely to start a business if moving from a job. In addition, fostering more senior entrepreneurship as the American population ages will require careful attention to specific sectors in order to foster innovation. n particular, we will likely need more financial innovation to support continuously changing forms of entrepreneurship. Finally, policymakers can foster senior entrepreneurship by encouraging intergenerational networks where entrepreneurs of different ages can interact and learn.
The Kauffman Foundation started a new entrepreneurial support program called 1 Million Cups in Kansas City that has spread to more than two dozen cities across the United States. Each week, the 1 Million Cups program offers local entrepreneurs an opportunity to present their startups to a diverse audience of mentors, advisors, and entrepreneurs. Presenters prepare a short educational presentation and engage in 20 minutes of feedback and questioning after they present. Entrepreneurs gain insight into possible ways they can improve their businesses, gather real time feedback, connect with a community that truly cares about their progress, and walk away feeling like they have advanced their business.
These community gatherings provide opportunities for individuals of all ages to connect around entrepreneurship. In conclusion, older Americans are active entrepreneurs whose new businesses provide self-employment and employment opportunities to others. As the American population ages, we should expect a greater share of entrepreneurs to be seniors. Policymakers can support these "third age" or "encore" entrepreneurs by pursuing policies that lower barriers to entrepreneurial entry, maintain flexible labor markets, and encourage intergenerational interaction.
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Checkered Flags and Fly-Reels www.SouthernOregonEdge.com by Southern Oregon Regional Economic Development Inc. (541) 773-8946 has been around for centuries, but when Robert Redford’s blockbuster movie “A River Runs Through It” came out It makes perfect sense that a retired race car legend would in the early 90’s, fly-fishing rapidly gained popularity. Not invent and manufacture high-end fly-fishing reels that long after the movie made its debut, so did the new Bauer are innovative, precise, and beautiful. That’s because pre- fly reel, which changed the industry with its innovative decision met passion for Jon Bauer, who went from winning sign. Today it is one of the most recognized brands worldraces and championships in the ‘70s and ‘80s to earning wide because of its function and uniqueness. fly-fishing industry awards over the past 20-plus years. While fly-fishing is popular in the Pacific North In the early days, Jon and his team engineered west, it is a global sport. Bauer flyfishing reels are manuracing parts for their cars, which included Porsches, Mus- factured in Ashland, Oregon and are sold and used worldtangs, and T-Birds. Later, Jon revolutionized fly-fishing wide. Each reel is made by hand in the Ashland facility, reels using many of the same engineering concepts that and usually under the careful eye of Jon who says he never helped him cross the finish line under the checkered flag. gets bored with his creations. “I have always been a hands“It takes creativity and innovation to gain and maintain on kind of guy,” he explains. “And since I love to fly-fish, I the competitive edge,” he says. “We would develop wid- hope to enhance the experience for others.” gets for the race cars that would provide advantages that Jon credits his success in both car racing and fly reel led to winning races. I used this same concept to turn my manufacturing to innovation, his business background, his fly-fishing hobby into a business venture.” connections with great engineering minds, and his ability Jon freely admits that fly-fishing is still his favor- to form teams that make it happen. He has been impressed ite pastime, and that he chose to move his fly reel manu- with the availability of high quality employees in Southern facturing business from California to Ashland, Oregon, Oregon, and the support of organizations such as SOREDI. because of the beautiful rivers and quality of life. As an “We are fortunate to live in a region in which innovation avid angler and fly-fishing enthusiast, Jon wanted his staff is encouraged and supported,” he says. “And I believe there and himself to have the opportunity to test their products is a lot of respect among the local business community. We on a daily basis on the local rivers. Jon and his Ashland are all contributing to the economy and doing our part to team aren’t alone in their love for fly-fishing and their enhance the lifestyle in Southern Oregon.” need for using quality reels. Fly-fishing 11
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The Miracle Minute: The Likability Factor When I first got into management I thought it was important for me to like the people I worked with. Through many long years of dealing with people I have discovered how wrong I could be.
When we like someone we subconsciously magnify their strengths, while minimizing their weaknesses. On the other side of the situation, when we dislike someone we magnify their faults, while ignoring their strengths. Our emotions play games with our reasoning. Now that enough things have blown up in my face, I can clearly see that either liking or disliking anyone is a luxury I can no longer afford. More than once, the very person who was getting the most accomplished was also the person I least wanted to have lunch with. Dick Warn is a professional speaker, author, trainer, coach and team builder. He has set national sales records in two industries and is one of those people who cuts through the fog and deals with reality, while retaining a sense of humor.
Not all employees need to please me. What's important is their performance and how they please others. Dick Warn
dickwarn@themiracleminute.com www.TheMiracleMinute.com
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DIVIDED WE STAND
Considering the Necessity of SocioPolitical Division by Robert Killen, Founder – APEX Professional Development Network
It occurred to me, in the midst of another season of political warfare that perhaps we're thinking about political divisiveness in the wrong way. That the mantra "Why can't we all just get along?" might in fact lead to catastrophe. Here's why... Consider the evolution (or if you'd prefer "development" or "progress") of our species through time. We would go through periods varying degrees of stability - from comfort to threat. How we strengthen our position as a species would necessarily require a different mindset from one period to another. In times of comfort, we would have the opportunity try new things, to change, to make our experience better. This requires a progressive mindset; a willingness to set aside what we already know, what has already worked, and seek new solutions. In times of threat our safest response is typically to fall back on what we know; what has worked in the past. Those who have previously experienced such a threat will be elevated and given authority for the conservation of the group.
It seems reasonable that the existence of these two differing mindsets - progressive and conservative - would be necessary for us to strengthen and improve our state over time. And while each of us contain some degree of both mindsets, perhaps a greater difference is required. Cognitive science continues to point out a difference in the physical makeup of the brain that can predict a political leaning. Even the rise of authoritarian movements make sense when looked at in this frame. I am in no way saying this to justify the vitriol and hatred being spat and encouraged by all sides. In fact, it's just the opposite. We need each other. We need to be able to respond to the dynamics of existence in different ways at different times. It is precisely our ability to come to a problem with vastly different solutions that allows us to find a best and strongest way through. Perhaps, by recognizing the value - even necessity - of those who see the world differently than we do, we'll be able to generate a greater appreciation for their being. In truth, we should be thankful for them.
Perhaps the question
"Can't we all just get along?" isn't such a bad one after all.
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Family Wealth and Climbing the Income Ladder:
The Well-Off Prevail by Josh Russell, 06/10/15
Can being well-off increase your children’s outcomes in life? Of course. Poorer children are more overweight or obese, often have worse behavioral problems, and are likely underprepared for school. These effects have lasting consequences through the child’s life. A 2008 study by the Brookings Institute shows just how long these effects can last. Your parents’ income has a large effect on college degree competition. Children from the top income quintile are 42 percentage points more likely to complete college than the bottom quintile. As you can see below, this effect is persistent across all quintile ranges. College completion decreases steadily from the top to bottom quintiles. Two reasons we may see these huge differences in college completion is the increasing cost of college and the difficulty of finding student loans. In 2012, those in the lowest quintile were earning at most $20,599 with an average income of $11,490. This puts the average income in the bottom quintile below the 2012 poverty line of 15
$19,090 for an average family size. These college graduation disparities have major impacts on intergenerational mobility for those from the lowest income quintile. Graduating college increases the chance of breaking out of the lowest quintile from 45 percent to 84 percent. It also increases the chance of reaching the top income quintile from 5 percent to 19 percent. The graphic below gives a further breakdown of mobility for those in the lowest income quintile.
But how do poor children who attend college and well-off children who don’t attend college compare? Surprisingly similar, but the well-off still prevail. The non-college going well-off are still 4 percentage points more likely to reach the top quintile of income compared to college going poor children, though they are 2 percentage points more likely to fall to the bottom quintile.
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But these differences are due to more than just dollars and cents; differing parental strategies may have an effect on children’s outcomes. The Home Observation for Measurement of the Environment (HOME) Inventory measures how strong or weak a parent is by observing parent-child interactions and the home environment. These observations include emotional connections, verbal communication, language stimulation, mental stimulation, and many more. While roughly 39 percent of parents in the top quintile are ranked among the strongest parents, less than 5 percent of low-income parents are rated strongly. This pattern, unfortunately, holds the other direction as well. Roughly 48 percent of parents in the lowest income quintile are rated among the least effective parents while only around 5 percent of parents from the highest quintile are. While this scale is not wholly unbiased – some measures, such as presence of educational toys and the amount of living space per home occupant, may be directly related to income – these biases cannot account fully for the vast difference between parenting effectiveness in income quintiles. What does this mean for our poor families and children? Likely that the cycle of poverty will remain unbroken. Combining college-going and economic mobility rates shows that 41 percent of the poorest children end up earning in the lowest income quintile as adults, while only 6.5 percent will end up earning in the highest quintile. However, children coming from the highest income quintile have a 39 percent chance of reaching the highest income quintile and only a 10 percent chance of dropping to the lowest quintile. And even if a poor child attends college, they are much more likely to drop out. As this Washington Post article puts it, “the afflictions of poverty don’t just disappear after a student gets into college.” Nor do these afflictions subside after graduation. Well-off children have more, and better, social and business connections that they can exploit to find post-graduation jobs. When climbing the income ladder, well-off children are often starting many rungs above our poor children. 17
Gary Leif
I SUPPORT:
• Term Limits • The Right to Bear Arms • Slashing Red Tape • Mental Health Solutions • Increasing O&C Support • Local Control of Our Lands
8 Bad Habits
Great Leaders Know to Break by Jared Brox
From 21 days to two months to more than a year, there are many different theories about how long it actually takes to form a new habit. Changing behaviors requires a tremendous amount of willpower and dedication, and ultimately falls upon the individual to make a conscious effort to accept the change into their routine.
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
– Aristotle
Great leaders aren’t born, they are made. Through the culmination of education, experience, mentoring, determination, and personal ambition, leaders must develop by nurturing good habits and, more importantly, shedding the bad ones—a task much easier said than done. Unfortunately, no one is immune—new leaders and seasoned veterans alike are susceptible to picking up a bad habit or two as they develop their skills and expertise. Here are eight of the worst habits great leaders must learn how to break. 18
1. Making the same mistake twice
5. Talking at people
As the saying goes, “Insanity is doing the same thing over and over again, but expecting different results.” Great leaders, just like all of us, fail from time to time. The difference, however, is in their immediate next steps. Every mistake has a lesson to learn. The best leaders take those lessons to heart and come back for round two with a new game plan and better prepared than before.
There is a big difference between “talking at” and “talking to.” Strong communication skills are perhaps the most important characteristic of great leaders and those who do it best, engage in a positive back and forth. From explaining overall company strategies to providing one-on-one coaching, you have to be able to relay your vision clearly and concisely in order to build excitement and bring everyone together in a united front.
2. Accepting assumed constraints Great leadership has the ability to break down barriers. Always prepared to take an unconventional approach to solving a problem, the most effective leaders don’t dwell for long on the reasons why something won’t work and instead focus on how it could. 3. Undervaluing their people One of the most important assets of any successful company is its people. From the front lines to the boardroom, everyone has a role to play. Great leaders are adept at not only understanding the skills and expertise each individual brings to the team, but also nurturing and developing them. 4. Failing to mentor Author and speaker John Maxwell said, “A leader is one who knows the way, goes the way, and shows the way.” Being a mentor is an important part of being a great leader. Even if they are not in a formal mentorship relationship, leaders are always influencing the people around them and setting the standard others will follow.
6. Ignoring constructive feedback Great leaders take constructive feedback seriously. In fact, they often seek it out. From the people they lead to the people who lead them, they understand there’s always a lesson to be learned that can help them develop into a more well-rounded and effective leader. 7. Failing to give recognition Always give credit where credit’s due. People like to know their blood, sweat, and tears weren’t all for naught. Whether it’s a quick, hand-written note or a more formal, public nod of appreciation, taking time to recognize someone’s hard work can go a long way toward building a team of dedicated, engaged workers. 8. Trying to do it all Great leaders are great delegators. As much as they may want to try, they recognize the fact that they only have two hands and must trust the people they lead to do their part. However, if they’ve fostered a positive and productive working environment, a great leader can rest easy knowing their team will be ready, willing, and able to step up and take control. What are some bad leadership habits you’ve had to break? How did you do it? What kind of impact did it make on your company or the people you lead?
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