New Klout Feature Lets Users See Most Influential Posts |  |
- New Klout Feature Lets Users See Most Influential Posts
- Increased Approvals of Small Business Loans by Big Banks Are a Good Sign for Entrepreneurs
- 14 Tips to Help Startups Keep High Potential Talent Growing and Happy
- Why Clean Energy Investments Aren’t Bearing Fruit
- Small Businesses Continue Saying: Yes, We Did Build It!
| New Klout Feature Lets Users See Most Influential Posts Posted: 20 Aug 2012 01:00 PM PDT Klout has just started rolling out a completely new system for measuring influence. The new interface has already begun updating scores for many users, based on a different set of criteria that mixes online influence with real-world influence. The site has also begun adding some new features that let users see their most influential posts and topics.
Previously, Klout only accounted for things like number of friends on Facebook and number of retweets on Twitter when calculating influence. But now a user's Klout score goes beyond that to include things like job titles from LinkedIn and the importance of that user's Wikipedia page. In addition, +K's from other users now impact Klout scores, whereas before they only influenced that user's influential topics. The old factors like Facebook friends and Twitter followers still count when calculating Klout scores, but now they're just balanced against some new factors. Klout takes into account factors from Facebook, Twitter, Google+, LinkedIn, Foursquare, Wikipedia, Instagram and more. The site has also introduced a new feature called "Klout Moments" that showcases a user's most influential tweets and posts from the last 90 days. For companies that use social media for promotion, measuring influence using a service like Klout can help to determine what types of posts work and what types of posts don't. With the new Klout interface, companies can specifically see what posts are the most influential and what people are most influenced by them. Old features like True Reach, Amplification, and Network impact scores have been removed in order to make room for Klout Moments. Moments are available for some users now and the rest will begin to see the new feature within the next few weeks. Klout also has a few new features currently in the works, including more networks like YouTube and Tumblr, and an enhanced topics system. From Small Business Trends |
| Increased Approvals of Small Business Loans by Big Banks Are a Good Sign for Entrepreneurs Posted: 20 Aug 2012 11:00 AM PDT Lending at big banks (classified as banks with $10B+ in assets) are rising, thanks to increased activity by mid-sized institutions within this category. This is welcome, positive news for small business owners.
The July 2012 Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on my company’s platform, revealed that approvals by big banks improved for the second consecutive month to 11.3% from 11.1% in June 2012. This figure represents the highest approval rate by big banks since March 2012; a positive indication that small business lending is gaining momentum among large and mid-sized banks. Conversely, small bank lending dropped slightly to 47.4% in July 2012 from 47.5% in June 2012. However, this number is still up two and a half percentage points from 44.9% last July. We are continuing to see more mid-sized banks, such as Sovereign, reemerge in the market. Big banks, which have been under pressure to increase small business lending, are continuing to close more deals. Meanwhile, the July 2012 loan approval rate of credit unions dipped to 54.6%, down from 55.8% in June. The figure represents the lowest approval rate for credit unions since August 2011, when the figure stood at 54.2%. Some credit unions have reported that they had reached their lending limit, which currently is 12.25% of total assets. The slowdown is due, in part, because some credit unions reportedly 'capped out', while others are being more cautious in their lending because of greater scrutiny by the SBA. The Credit Union Small Business Jobs Bill proposed by Senator Mark Udall (D-CO) seeks to raise the credit union business lending cap to 27.5% of total assets from the current figure of 12.25%. Although credit union lending dropped, alternative lenders — accounts receivable financers, merchant cash advance lenders, Community Development Financial Institutions (CDFI), micro lenders, and others — are picking up the slack. In July, alternative lenders approved 64.1% of loan requests, up from 62.9% in June and nearly 12 percentage points higher than a year ago. The 64.1% approval rate was the highest figure since the Biz2Credit Small Business Lending Index began in 2011. While credit union approvals slowed, alternative lenders picked up the slack with their highest approval rating since we began measuring the category. Alternative lenders should continue to reap the benefits of capped out credit unions. Although it is not yet time to pronounce that the credit crunch is over, things have certainly improved for entrepreneurs in search of capital this year. Loan Approval Photo via Shutterstock From Small Business Trends |
| 14 Tips to Help Startups Keep High Potential Talent Growing and Happy Posted: 20 Aug 2012 08:00 AM PDT Congratulations! Whether with an attractive amount of equity or a persuasive pitch of promised impact, you’ve successfully recruited high-potential talent to your business. But the hard part isn’t exactly over, as nothing in this economy is ever guaranteed. Bringing on top talent is one thing; keeping them there is another.
Instead of continually dangling costly perks in front of their eyes, providing support and mentorships may be the way to maintain company loyalty from your high-potential talent. By investing in their work ethic and well-being early on, their productivity at present may grow while their career trajectories align with your business well into the future. We asked members of the Young Entrepreneur Council (YEC), an invitation only nonprofit organization comprised of the country's most promising young entrepreneurs, the following question to find out their advice for supporting — and therefore, retaining — top team members:
Here's what YEC community members had to say: 1. Prioritize It Highly “I find support and mentorship has to be a vocalized priority, or else it goes ignored. Especially in a young company full of young people, I think it’s crucial that everyone recognizes they’re only beginning their personal growth — and that they’ve got a lot they can learn from everyone else!” ~ Derek Flanzraich, Greatist 2. Ask the Right Questions “I make a point of hiring team members who have plenty of ambition (and a few side projects of their own). When the business of the day is complete, I make a point of asking about their progress — that gives me an easy way to offer specific advice, connections and other mentoring, rather than trying to help in a way that might not be so useful.” ~ Thursday Bram, Hyper Modern Consulting 3. Inspire the Mentorship “Inspire up-and-coming leaders to mentor high-potential talent. I will usually talk to my rock-star employees about spending some extra time with the new talent. It's a win-win. The mentor feels that she is taking more of a leadership role, and the new talent gets the support he needs.” ~ John Hall, Digital Talent Agents 4. Engage in Retention Coaching “Set up monthly, one-on-one meetings with your most talented professionals and ask how you can better support them. Talk with them candidly about their challenges and share your own experiences. Being relatable and helpful on an individual level is the most effective way to get high-potentials to stick around.” ~ Alexandra Levit, Inspiration at Work 5. On-Boarding Training Program “Whenever we hire someone, we’ve developed in-house training modules to bring them up to speed as soon as possible. We also organize one-on-one training sessions with various people in the office; this serves a dual purpose of training along with networking!” ~ Jesse Pujji, Ampush|social 6. Give Them That Love “There is no substitute for real face time with your new talented employees. If you want them to develop and grow, you need to give them the attention they deserve. Make sure to meet with your team at least once per week to touch base on their progress and questions. Solicit feedback from them and do your best to improve as a manager.” ~ Lucas Sommer, Audimated 7. Measure Results Through Analytics “I put extra emphasis on analyzing the results of the efforts that my high-potential talent gives to my organization. If you know exactly where a high-potential person is lacking or succeeding, you can apply more of your resources at that point to ensure maximum results.” ~ Lawrence Watkins, Great Black Speakers 8. Suggest Leadership Positions “Encourage them to take on leadership roles earlier than they're comfortable. This will force them to interact with senior team members in a more productive way and will allow them to grow at a much quicker rate.” ~ Brent Beshore, AdVentures 9. Go for Company Coaching “We utilize a coaching company to help set structure and mentor our talent. It really helps to have an outside opinion when dealing with team members (and keeping them happy). It's been one of my best investments, and I find it is most successful when we go through rounds of growth. It keeps the support system consistent during these hectic periods.” ~ Jordan Guernsey, Molding Box 10. Make Many Introductions “In addition to providing personal support to top talent, you should introduce them to other potential mentors and support them in joining relevant professional groups. This will broaden their horizons and help them to bring back fresh ideas to your company.” ~ Elizabeth Saunders, Real Life E® 11. Solicit Weekly Meetings “Managers should individually meet with all their direct reports once a week so the employees' voices are heard — this meeting is an opportunity for employees to voice opinions and concerns, and for managers to make sure their team has the support it needs.” ~ Bhavin Parikh, Magoosh Test Prep 12. Invite Other CEOs and Leaders “We have a relatively small team, but a pretty great network. We often ask those leaders and managers who we know at other companies to meet our team. While my liberal arts and consulting background is relevant for some of our team members, others need to learn from top technical folks. There is only so much that you can teach a young person; support them further by opening up your Rolodex!” ~ Aaron Schwartz, Modify Watches 13. Create Deeper Dialogue “Beyond typical training and mentorship, it’s important to create a deeper dialogue with high-potential talent. Provide an opportunity for open brainstorming to spurn creative ideas and let them know they are “heard” on a regular basis.” ~ Melissa Cassera, Cassera Communications 14. Balance Out the Dynamic “Communication is essential. You should have weekly meetings, both one-on-one and with the whole team. This gives everyone a chance to see where others are having trouble, need help, or are succeeding. It ensures everyone is working together, and it creates the opportunity for real relationships.” ~ Patrick Ambron, BrandYourself.com Development Photo via Shutterstock From Small Business Trends |
| Why Clean Energy Investments Aren’t Bearing Fruit Posted: 20 Aug 2012 05:00 AM PDT A123 Systems, which received $250 million of the $2 billion that the Obama administration has invested in electric battery companies, recently averted bankruptcy with a $450 investment from Wanxiang Group that could give the Chinese company nearly fourth-fifths of A123's stock.
In the currently politically charged environment, the President’s opponents have criticized the deal, saying that it highlights the failure of his clean energy policies. Government should stay out of the marketplace, they say, because policy makers usually make poor investment decisions. To me the issue is more subtle. The President’s clean energy policies have run into trouble in large part because the administration didn’t pay enough attention to uncertainty. They assumed that investment alone would be enough to ensure success. Consider electric vehicles: Customer adoption of new technology, economists explain, often depends on technical breakthroughs that cut costs and make new alternatives more attractive than old ones. When these advances do not come and costs don't fall, adoption is usually slow. A123 Systems invested in new battery technology. But it wasn't able to lower the cost of its batteries quickly. Needed technical developments didn’t come fast enough because technology development is uncertain. The result? Electric vehicle batteries remain pricey, keeping electric vehicles expensive, and making them relatively unattractive to car buyers. When providing federal support to clean energy companies like A123 Systems, the President and his staff ignored uncertainty and made it seem that all we needed to establish an electric vehicle industry right now would be to spend taxpayers’ money. As the President claimed in his 2011 State of the Union Address:
We aren't even close to this pace of adoption. Currently, there are fewer than 50,000 electric vehicles in operation. At our current pace, we will have about 100,000 electric vehicles on the road by 2015. To hit the million vehicle target in less than three years would take a huge, and highly unlikely, acceleration in the adoption of electric vehicles. To me the lesson is clear: When seeking to develop high tech industries, policy makers need to keep their hubris in check. They shouldn’t just assume that all it takes to make their optimistic projections come true is a little investment. The path of technology development is far too uncertain for that. Electric Car Photo via Shutterstock From Small Business Trends |
| Small Businesses Continue Saying: Yes, We Did Build It! Posted: 20 Aug 2012 02:30 AM PDT A statement by President Barack Obama on the campaign trail still rankles some small business owners a month later — and the issue doesn’t seem to be going away. In a speech in July 2012 President Obama made the statement, “If you've got a business. you didn't build that. Somebody else made that happen. ” ABC News That set off a firestorm of reaction. Presidential hopeful Mitt Romney’s campaign seized on the comment and organized a series of ”We Did Build It!” rallies. The President fought back with speeches and a television commercial explaining that his words had been pulled out of context by his opponent. He restated his support for small businesses. How Do Small Business Owners Feel?There is no single “small business position” on this or any other election issue. Small business owners have varying political beliefs and can be found on every side of every issue. But “We DID build it” has become a rallying cry for some small business owners to voice how they feel about government, taxation and spending. They are waging protests in their places of business, as recently as this past week. Small business owners are not known for protesting or mixing politics with business. To do so at all is remarkable. It’s a sign of deeper discontent by some small business owners. A Gallup poll from the 2nd quarter of 2012 (before the President’s comments) found business owners are the group LEAST approving of President Obama’s on-the-job performance, with 59% disapproving. In other words, a majority of small business owners did not think the President was doing a good job according to the Gallup poll — even before the political dust-up over the “You didn’t build it” comments. Fast forward to today, a month after the President’s comments were made: Business Owners Speak OutSending a message. Just to be sure President Obama knows who built his company, biz owner Al Letizio put up signs in front of his small New Hampshire food service business so that the President was sure to get his message while passing in his motorcade through the state. Breitbart An inside job. Deli owner Ross Murty got even closer to the Obama campaign to make his point about his small business. While catering an Obama visit to Iowa, Murty wore a shirt stating “Government Didn’t Build My Business. I did.” Washington Post Sweet revenge. Chris McMurray, co-owner of “Crumb and Get It”, a family owned bakery in Radford, Va., said “no” when campaign workers for Vice President Joe Biden asked whether Biden could make a campaign stop at the local mom and pop. His objection stemmed from Obama’s comment about business. WDBJTV Summing up. A small business owner sums it up. Note: includes language NSFW (not safe for work). Ace of Spades, via Instapundit. Look at All SidesPulled out of context. Erica Nicole says President Obama’s comments were pulled out of context and misrepresented by the media. Business owners should consider “the story behind the story,” she cautions. Young, Fabulous and Self-employed Who built what? It’s a chicken and egg argument. While it’s certainly true that government expenditures for infrastructure from highways to the Internet help entrepreneurs create and sustain businesses, it’s also true that the money for these projects comes from taxes paid by those businesses in the first place, writes blogger Erica Holloway. BlogHer That nobody can deny. The core idea of the President’s statement, that everyone has been helped by someone else on their way to being successful, is something no one can deny. But that doesn’t mean the people we owe our success to are politicians sitting in Washington, says Professor Richard Grant, nor should it. Forbes Much ado about nothing. The problem with the debate over who really creates business success however, completely misses the point, says business advocate Nelson Davis. Here in the U.S., small businesses have traditionally viewed government as a support system for their operations, but certainly not as the agent responsible for their success. The Huffington Post Public PerceptionWe’re not alone. According to another recent poll, 72 percent of Americans believe small business owners are responsible for their own success. Rasmussen Report From Small Business Trends |
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