4 Assets to Help You Manage Challenging Cycles of Success |  |
- 4 Assets to Help You Manage Challenging Cycles of Success
- Amazon Offers Comparable Tablet Cheaper Than iPad Air
- Popular Content to Share in LinkedIn Groups
- Obamacare Will Affect Some Small Businesses Early
- Small Business Employee Compensation and Benefits Lag
- Bieber Invests in Social Media for Teens
| 4 Assets to Help You Manage Challenging Cycles of Success Posted: 11 Nov 2013 04:00 PM PST
When I think about how people describe me, more often than not, the words "dedicated and perseverance" top the list. I have instinctively known that in life, when you want something, you have to work at it and for it. Even as a young person, I was very clear and focused on what I wanted and how I could get there. I set my sights on the bull's-eye and kept shooting for it. Over time, I have learned many lessons and gained much wisdom about how to stick to things and, more importantly, how and what I needed to do to set myself up for what I like to call the "long race." Long-distance runners train differently from sprinters. They focus on endurance and pace. Our success plays out much better when we approach business success as long distance runners prepared for a marathon. To truly perform their best, the training plan of all long-distance runners includes:
Long-distance runners all train for the second half of the race. As business professionals who want to be around for a long time, we too must develop that kind of mindset and resilience that strengthens our ability to persevere beyond the first year or two and learn to properly manage challenging cycles of success. How to Manage Challenging Cycles of SuccessDevelop An Unwavering PassionWhen you can find your calling and truly love what you do and do what you love, it’s the most powerful "sales and success" tool you can have. Sometimes we start out with an unwavering passion that can propel us through difficult times, but when it wavers or is uncertain over time, that’s when a clear, honest assessment is essential. Ask yourself, “Do I really still love what I am doing and is this really what I want to do now?” Get a Clear PerspectiveKeep things in perspective. Stay focused on your goals and seek out alternative sources for news and information. There are so many resources for "the solution" and examples of people and businesses finding and making positive opportunities in challenging times. Build a strong, supportive network and use it daily. It begins with me but continues and succeeds with we. Maintain a Commitment to Pertinence and RelevanceNothing is more important than relevance. Keep up with and know the trends in your industry as they relate to business, consumer behavior, and marketing. These days, trends drive everything. Pertinence and relevance in our rapidly changing business landscape can mean the difference between becoming extinct or being reborn. Use Your Ability to Make Strategic PredictionsDo you have a vision for where you are heading? What is the road map for your success? Many of us are still navigating uncharted waters. Having both a short-term and a long-term plan and vision for navigating conditions keeps us on track, in the present and moving forward. Set yourself up to succeed by doing whatever it takes. Upgrade and close skill gaps, go back to school, downsize, diversify, partner, collaborate, network, rebrand yourself and your business and sometimes, as hard as it may be – it’s actually best to move on. One of the most prolific and successful entrepreneurs for the past 7 decades is Award Winning Global Entrepreneur and Author, Jack Nadal. He has achieved legendary results and success with strong professional fundamentals and personal values. He continues to mentor, teach and be a power of example for what it takes to sustain success and leave an enduring legacy along the way. Check out his enduring tips for entrepreneurs. I’ll leave you with one of my favorites, “Don’t let your ego get in the way of succeeding.” Reach for Stars Photo via Shutterstock The post 4 Assets to Help You Manage Challenging Cycles of Success appeared first on Small Business Trends. |
| Amazon Offers Comparable Tablet Cheaper Than iPad Air Posted: 11 Nov 2013 01:30 PM PST
Apple may have begun the tablet revolution. But small business owners and entrepreneurs who favor the devices for staying on top of information while on the go now have more choices than ever. The latest comes from an unlikely source – Amazon. With the arrival of the Amazon Kindle Fire HDX 7 and 8.9 in stores, mobile entrepreneurs have access to tablets comparable to the iPad Air at competitive prices. The two devices were announced by Amazon together with a new version of the Kindle Fire HD 8.9 and new Kindle Fire HD 7 in September. High Resolution and 4G LTEThe key to the competitiveness of the Amazon tablets is certainly partially their new higher resolution. At 2,560 x 1,600 pixels, the 8.9-inch Kindle Fire HDX’s resolution is said by some to be better than the iPad Air, reports CNET. The availability of 4G LTE, actual cellular connectivity rather than just WiFi connected to a network through a router, means they are more mobile than the Kindles that came before. At $479, the 8.9-inch Kindle Fire HDX with 4G LTE comes in about $20 cheaper than the new iPad Air. Meanwhile, the 7-inch Kindle Fire HDX with 4G LTE at $329 comes in considerably cheaper. Tablet Field GrowsCertainly, the iPad continues to have advantages. For example, tech writer Anand Lal Shimpi reported recently on the Air’s ability to function as its own hotspot with a single charge for more than a day. But this probably goes well beyond the needs of the average mobile business owner. Meanwhile, many company’s have begun to offer alternatives, including tablets with Windows and Android operating systems, at similar or competitive prices. In the end, there are many cost effective solutions for budget conscious small business owners and entrepreneurs today seeking a tablet for business. Image: Amazon The post Amazon Offers Comparable Tablet Cheaper Than iPad Air appeared first on Small Business Trends. |
| Popular Content to Share in LinkedIn Groups Posted: 11 Nov 2013 11:00 AM PST
Most LinkedIn experts will say that participating in LinkedIn groups is the best way to get new business, develop joint partnerships and create and deepen connections. This is because if you want to build solid online relationships, you need to find places where you can continually add value and engage in conversations with members of your target market — and that's what LinkedIn groups allow you to do. I’ve previously written about how to choose LinkedIn groups to join, as well as how to create a LinkedIn company page. The next step is to determine how to share content in LinkedIn groups successfully, to maximize your opportunities and provide value. How to Share Content in LinkedIn GroupsWhat should you post? Certain types of posts are more popular, and increase your exposure. Below are some examples: 1. Comment On and Share Popular PostsDiscussions in LinkedIn groups with many comments and shares tend to get the most visibility. This is a way for you to connect with the person who started the discussion, as well as those who have participated in the discussion. So begin engaging with other LinkedIn community members now by commenting on and sharing popular posts on LinkedIn. 2. Ask a QuestionPeople love to help. Asking a question allows others to not only help you, but connect with you. This is best done after you've spent some time observing the discussions in your group. You'll begin to see a pattern for the types of concerns and information shared. Some groups feature discussions asking for help dealing with issues. Others include posts where folks are asking for vendor recommendations. Still others are looking for input for articles. Some include all of these types of discussions. Posting popular types of questions will increase the likelihood of engagement with group members. 3. Post Your Own or Shared Articles, Videos, Etc.This is actually a tricky area. One of the complaints of LinkedIn group members and managers is that group members often use LinkedIn groups as a "content dumping ground." While it's easy to post articles and videos, it should not be the primary way you participate in groups. Groups are meant to be forums and exchanges of information. When you do occasionally post informational content, make sure that it's relevant to your group. Also keep in mind that studies show that updates with images and videos receive a 98% higher engagement rate, and a 75% higher share rate, respectively. Further, 64% of LinkedIn members expect content updates to be both informative and insightful. Make sure your information answers a question or solves a problem for members. Whatever you do, don't make the post "sales-y." It's not only a turnoff, but a no-no in groups. How Often Should You Post to a LinkedIn Group?Visit each of your top groups several times per week or it will be difficult to keep up with discussions. Keep up with the conversations you're participating in and add value continuously. Taking the time to strategically participate in LinkedIn groups will help you develop new business opportunities, joint partnerships and create and deepen connections. Start using these tips on how to share content in LinkedIn groups today and you will be on your way to successful participation. Group Discussion Photo via Shutterstock The post Popular Content to Share in LinkedIn Groups appeared first on Small Business Trends. |
| Obamacare Will Affect Some Small Businesses Early Posted: 11 Nov 2013 08:00 AM PST
The Affordable Care Act will require most U.S. Citizens to be insured by 2014. The law kicks in for businesses with 50 or more full-time employees a year later. These companies must provide insurance for their full-time workers by 2015 or face penalties. Businesses with fewer than 50 employees are, so far, exempt from the requirements. But it just so happens the law will hit at least two groups of small business owners earlier than they might have expected. Small Business Owners Need InsuranceOne of those two groups is made up of self-employed solopreneurs. If not insured already, these people will need to enroll in a plan by March 2014. They are not exempt from participation simply because their businesses have fewer than 50 employees. And they cannot wait until 2015 to enroll in an insurance plan like other businesses. This is because they fall under the individual mandate which goes into effect next year, not the employer mandate that has been delayed until 2015. We don’t know exactly how many uninsured solopreneurs there are out there, says William J. Dennis. Dennis is a National Federation of Independent Business Research Foundation senior fellow who recently authored a study on the impact of Obamacare on small business. He estimates there are approximately 5.5 million self-employed small business owners in the U.S. But because the NFIB study confined itself to small businesses employing between 2 and 200 employees, no data was gathered on the number of self-employed business owners who are still uninsured. Self-employed entrepreneurs might easily become confused about which mandate they fit under. That’s because technically, Dennis says, they could purchase an insurance policy as either a small business or an individual. However, he says there is no question that they fall under the individual mandate in terms of the new Affordable Care Act. As a result, they must carry health insurance by the 2014 deadline or face penalties. Employers Without InsuranceYet another group of small business owners and entrepreneurs will need insurance policies by 2014, if they don’t already have them. This group includes small business employers. Of the 7 million such employers in the U.S., Dennis estimates about 15 to 16 percent are currently uninsured. Dennis says some of these employers may already provide insurance for their employees and have simply gone without a policy of their own to save costs or for some other personal reason. Others may think that they can simply hold off until 2015 and purchase plans for themselves and their employees when the employer mandate kicks in. However, these employers may be forgetting that while their businesses are not required to purchase insurance before 2015 under the new law, this does not apply to them personally. “They are effectively individuals,” Dennis explains. The Clock is TickingWhether you are a self-employed business owner or an employer, you will need to be insured by 2014 to meet the individual mandate of the affordable care act, according to the NFIB. This is regardless of whether your business falls under employer mandate going into effect in 2015 or not. Don’t wait until the last minute to get more information on the requirements and how to proceed. The post Obamacare Will Affect Some Small Businesses Early appeared first on Small Business Trends. |
| Small Business Employee Compensation and Benefits Lag Posted: 11 Nov 2013 05:00 AM PST
Employee compensation at small establishments lags behind that at larger businesses, Bureau of Labor Statistics (BLS) data (PDF) reveals. Not only do businesses spend less on wages and benefits at smaller concerns, but also expenditures on employee compensation have been growing more slowly at smaller establishments. While not every establishment, or business unit operating at a single location as government statistical agencies defines them, represents an independent firm. The vast majority of establishments are single location businesses. Therefore, observers often use data on small establishments to track what is going on in the small business world. Smaller Establishments Pay Lower SalariesAt private sector establishments with fewer than 50 workers, wage and salary costs per hour were $17.28 in June 2013; at establishments with 50 to 99 workers, they were $19.13; at concerns with 100 to 499 workers they were $20.56; and at establishments with 500 or more workers, they were $28.29. Smaller Establishments Spend Less on Employee BenefitsThe cost of employee benefits at private sector establishments with fewer than 50 workers was $5.81 per hour worked in June 2013, compared with $7.51 at establishments with 50 to 99 employees, $9.20 for establishments with 100 to 499 workers, and $14.86 for establishments with 500 or more people, BLS estimates show. Larger Establishments Provide a Greater Share of Employee CompensationAt establishments with between 1 and 49 workers, benefits accounted for 25.2 percent of total compensation in June of this year. They amounted to 28.2 percent of total compensation at establishments with between 50 and 99 employees, 30.9 percent at locations with between 100 to 499 workers, and 34.4 percent at establishments with 500 or more workers. Two key benefits – health insurance and retirement plans – account for a larger slice of employee compensation at bigger establishments than smaller ones. In June 2013, health care coverage took to:
This June, retirement plans accounted for:
Employee Compensation has Been Growing More Slowly at Smaller EstablishmentsBLS figures show that total compensation increased only 1.8 percent between 1990 and 2013 at establishments with fewer than 100 workers, when measured in inflation-adjusted terms. At establishments with between 100 and 499 workers, and establishments with 500 or more workers, over the same period, real total compensation rose 19.7 and 19.8 percent, respectively. Wage stagnation has been the norm at smaller establishments. Between 1990 and 2013, real wages increased only 0.9 percent at locations with fewer than 100 employees. At establishments with between 100 and 499 workers, they went up 14.1 percent, while at concerns with 500 or more employees, they rose 13.2 percent. Retirement benefits have grown more slowly at smaller establishments. When measured in inflation-adjusted terms, the per employee cost of retirement savings grew only 1.3 percent between 1990 and 2013 at establishments with fewer than 100 people, versus 64.2 percent at locations with between 100 and 499 workers and 62.7 percent at concerns with 500 or more workers. Spending on employee health coverage has grown more slowly at smaller establishments. Real spending on employee health coverage rose 58 percent at establishments with 500 or more workers between 1990 and 2013, and 68 percent at concerns with 100 to 499 employees. By contrast, spending on employee health coverage at establishments with fewer than 100 employees increased only 32 percent over the same period. In short, smaller establishments pay less and provide lesser benefits than larger establishments. Moreover, this pay and benefit gap has widened in recent years. Our elected officials should take these facts into consideration when designing policies that affect small business employment. Small Versus Big Photo via Shutterstock The post Small Business Employee Compensation and Benefits Lag appeared first on Small Business Trends. |
| Bieber Invests in Social Media for Teens Posted: 11 Nov 2013 03:00 AM PST
If teens are getting bored with Facebook, maybe teen heart throb Justin Bieber can help. Facebook recently admitted teens aren’t as active on the social network as they used to be (something you should take note of, if you market to this group.) Business Insider even went so far as to interview some 13-year-olds about why they’re becoming less active on the site. Meanwhile, Bieber, who counts teens as a major part of his audience, was among a group of investors who recently put a combined $1.1 million into a new social site called Shots of Me targeted directly at this demographic. John Shahidi, CEO of RockLive, the company responsible for the new social network, told Fortune:
Of course, you don’t need a million dollars to start your own online community. Tools like Ning, Mixxt and others provide cost effective opportunities to create a more specific community for your fans, customers or industry. Imagine a social network targeted at your niche. An accounting business, for example, could create an online community for people with tax questions. Or a local automotive repair shop could sponsor a community for people with concerns about their cars. Niche communities could be a major part of marketing to your customers in the future and the tools are easily available. Justin Bieber Photo via Shutterstock The post Bieber Invests in Social Media for Teens appeared first on Small Business Trends. |
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