Owners of small and medium businesses never expect to fail, but every year, thousands of companies close shop, anyway. Reasons for failure vary from cash flow problems to poor product-market fit, but in many cases, company leaders could have avoided the worst if they’d known what to expect. Keep an eye out for these common mistakes so you can prevent them: 1. Failure to Delegate When you start…
Updated October 16, 2019 The concept of wellness is an old one. Originating thousands of years ago, wellness describes a harmony between one’s body, mind, and spirit. Wellness gained steam in the West in the 1980s, and soon, the workplace wellness program was born. In the 40 years since, a lot has changed. For one, wellness programs were once found primarily at enterprises. Today, they’re actually more common…
Updated October 15, 2019 If you’re looking for a good deal in influencer marketing, there’s one platform where you’ll find it: YouTube. According to influencer marketing agency Mediakix, just 11 percent of marketers plan to spend most of their influencer money on the social video platform this year. Compare that to Instagram, where 69 percent of marketers will sink the majority of their influencer dollars. But it isn’t…
By now, marketers understand that members of Generation Z aren’t just younger Millennials. The latest generation to join the workforce has its own unique preferences, and brands that fail to acknowledge those differences will struggle to connect. Research from McKinsey found that Gen Zers prioritize individuality more than their older peers. They don’t see differences between the people they meet online and the people they meet in person.…
Imagine spending decades building a team, turning it into a national brand, moving it to another city — and then a hurricane blowing the whole thing to pieces. That’s exactly what happened to George Shinn, the former owner of the Hornets basketball team, when he moved it from Charlottesville to New Orleans. “Growth means change and change involves risk, stepping from the known to the unknown,” Shinn famously…
Every business partnership has ups and downs. Usually, the lowlands and peaks balance each other out. When the valleys become the status quo, however, it may be time to dissolve the partnership. The good news for partners in this predicament is that there are always other entrepreneurial fish in the sea; you can even use a dating app to find them. In the meantime, though, you have to…
When your co-worker underperforms, you have the option of looking the other way. But when you’re the team leader, you’re in a different position. As a manager, you’re expected to deal effectively with underperformers — either by letting them go or helping them improve. Easier said than done, right? However, with the proper mix of patience, guidance, and tact, you can manage your direct reports to success and…
Are good business leaders born or made in the trenches? Early work experience forges how a person will lead. For many successful CEOs, starting out on the company’s bottom rung has been an invaluable opportunity for learning. For example, David Cote started out at General Electric as an hourly employee when he was 21. By age 33, he’d worked his way up to a midlevel financial planner role…
Top Collision Speaker’s We’re Looking Forward to Seeing and Hearing This Week! The Collision Tech Conference is one of the leading tech conferences of its kind. In fact, the Toronto-based event is the fastest-growing tech conference in all of North America — now with over 25,000 attendees. Each year, Collision features some of the top faces in technology, allowing attendees to engage with industry leaders. Plan to…
For small businesses, a local customer base can be extremely lucrative. But to reach customers in your immediate area, you’ll have to develop a concrete strategy that addresses their specific wants, needs, and expectations. Try These 5 Local Marketing Tactics In a business world where large, sweeping marketing strategies dominate the landscape, there’s something to be said for adopting a simple, focused approach that prioritizes customers in your…