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Top Entrepreneurial News of the Day

11 August, 2010
  • Small Business Lending: The Squeeze Goes On | BusinessWeek.com: Banks had ambitious small business lending goals for 2010, but they’re having a hard time finding worthy creditors with solid expansion plans.
  • Four International Blunders to Avoid | WomenEntrepreneur.com: If you’re serious about having an international component to your business, make sure you don’t run afoul of these four major misconceptions about international business.
  • China Output Growth Weakens; Inflation Accelerates | Bloomberg.com: China’s industrial output rose the least in 11 months, retail sales growth eased and new loans climbed less than estimated, adding to signs that a slowdown in the world’s third-biggest economy is deepening.
  • Firms Spend More–Carefully | WSJ.com: Companies in the U.S. are stepping up purchases of equipment and software at the fastest pace since the late 1990s.

Categories: general

Top Entrepreneurial News of the Day

10 August, 2010
  • Finding Calm in the Unknown | Forbes.com: Bag a bundle taking a company public and you can be forgiven for lining up tee times for the rest of your days. Jeff Green wouldn’t think of it.
  • Making a Family-Run Business Work | Entrepreneur.com: Home-based businesses and family-operated businesses each have their own minefields of potential problems, but the one pitfall they share is the blurring of boundaries.
  • Five Ideas to Stimulate the Economy | CNNMoney.com: Despite the $787 billion stimulus plan Congress passed in 2009 following the financial crisis, it’s been a painfully weak economic recovery.
  • How Facebook and Twitter are Changing the Business World. And How They Aren’t. | FastCompany.com: I heard through the Tweetvine that Twitter, Facebook, and YouTube are changing the world, creating entirely new ways of reaching customers and doing business.

Categories: general

Creating a High-Octane Culture

10 August, 2010

Contributed by David Mammano, the founder and CEO of Next Step Publishing, Inc., based in Victor, New York.

As an entrepreneur, my employees are my strongest investment. Ninety-nine percent of my company’s assets are out the door at 5 p.m. every day. Without this passionate and committed team, my business wouldn’t exist. That’s why it’s important for me to get people excited about their jobs; to create a high-octane culture that encourages growth and excitement. Here are five things I do to energize my employees:

  1. Plan an awesome orientation. It all starts with a warm welcome to the company. I make it a point to take every new hire out to lunch and talk about the history of my company; the growth; the good, the bad and the ugly, etc. This lets them connect to me and the company. New employees also spend the first two weeks getting to know everyone through one-on-one meetings, group lunches and a position-oriented “boot camp.”
  2. Celebrate accomplishments. Remember those school field trips? I brought them back. By combining learning with adventure, I ensure my employees are never bored. I’ve taken my team rock climbing, to museums, boat rides, wine tastings and more. It’s always a blast to mingle outside of the office. Plus, it shows my employees that I care about who they are and their role within the company.
    Read More

Categories: general

Tags: advice bold business career company culture david mammano small business successful business tips

Top Entrepreneurial News of the Day

9 August, 2010
  • How Rich is Rich? | CNN.com: How much money do you need to feel rich? Wealth is a subjective concept, but one thing is universal in most definitions: being able to live a comfortable life without having to work.
  • The PR Crisis Playbook | Entrepreneur.com: BP is at the center of the storm now, but it’s only the latest in a long line of companies that have faced similar problems. Here’s what you can learn from their stories.
  • In Crackdown on Energy Use, China to Shut 2,000 Factories | NYTimes.com: Earlier this summer, Prime Minister Wen Jiabao of China promised to use an “iron hand” to improve his country’s energy efficiency, and a growing number of businesses are now discovering that it feels like a fist.
  • Alex Bogusky Tells All: He Left the World’s Hottest Agency to Find His Soul | FastCompany.com: Alex Bogusky, the Elvis of advertising, has left the business. Is this a New Age midlife crisis or his greatest rebranding campaign?

Categories: general

Break the Pattern of Bad Hiring

9 August, 2010

Contributed by Greg Moran, the co-founder of the Tech Valley Angel Network, a not-for-profit organization formed to bring together Tech Valley entrepreneurs and investors. Moran also serves as president and CEO of Talent Management Group LLC and PeopleAnswers America. His book, “Building the Talent Edge: A Manager’s Guide to Recruiting the Best,” was released in May 2005.

After working with hundreds of growing and emerging businesses on recruitment issues for more than a decade, I can say one thing with certainty: Most entrepreneurs, while paying lip service to the critical task of identifying and landing talent, treat the actual task of recruitment as administrative in nature and best left delegated until the final stages of candidate screening. Alternately, great entrepreneurs view themselves as the company’s Chief Recruiting Officer and drive the process as if their business depended on it … because it does. Building and maintaining a healthy pipeline of talent must be our top priority as entrepreneurs.

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Categories: general

Tags: advice bold business greg morgan hiring small business

Top Entrepreneurial News of the Day

6 August, 2010
  • A Jump in Hiring—But Only Part-Time | BusinessWeek.com: More temp workers are being hired, but companies don’t trust the recovery— hence, they’re not making full-time offers.
  • Private Growth Is Tepid as U.S. Economy Sheds Jobs Overall | NYTimes.com: The unemployment rate held at 9.5 percent as private employers added 71,000 jobs in July, fewer than forecast, while governments cut their payrolls by 221,000.
  • Did the Recession Actually End? | CNNMoney.com: The National Bureau of Economic Research is known to be slow at declaring the starts and stops of a recession, but it looks as if it might have been right to hold off on any bold declarations this time around, potentially proving many policymakers and Wall Street analysts wrong.
  • Beyond the Sporting Life | Entrepreneur.com: Few athletes are able to achieve the levels of influence as Drew Brees or Dave Bing, but a growing number of pros is following an entrepreneurial path … and not always after their playing days end, either.

Categories: general

Tips for the Entrepreneurial Traveler – Australia Edition

6 August, 2010

Contributed by Gayle Cotton, an Emmy Award winner, communications expert and keynote speaker. This blog entry, which was first published on Gayle’s blog, www.circlesofexcellence.com, highlights how to effectively communicate with Australians. This will be an ongoing segment in EO Bold.

 Conversational Tips

  • Australians tend to be enthusiastic conversationalists and debaters. A wide range of topics may be open to discussion.
  • Don’t boast about yourself or your company’s accomplishments. Instead, Australians will judge your competence and abilities through your actions.
  • Cynicism is part of the national character. It may be directed at people who seem too wealthy or powerful. In this culture, there is greater respect for the “underdog.”
  • The work environment in Australian business culture tends to be collaborative. Before a decision is made, top management will consult subordinates and their input will be given careful consideration. Consequently, decision-making will be slower, so don’t rush this process.
  • Australians generally dislike aggressive sales techniques. Since they value directness, presentations of any kind should be straightforward, with an emphasis on both the positive and negative outcomes.
  • Point with your entire hand; pointing at someone with your index finger may be considered impolite.
  • Australian hospitality tends to be somewhat informal, particularly when you are invited to a home. Barbecues, affectionately known as “barbies,” are a very popular form of entertaining.
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Categories: general

Tags: bold cross cultural business cultural taboos cultural tips for countries gayle cotton

Work Teams: Internal and External Influences on Performance

5 August, 2010

Contributed by Dr. Todd Harris, a director of research at PI and an expert in industrial and organizational psychology. Todd has advised clients, ranging from small businesses to Fortune 100 companies, on leadership, personality assessment and talent management.

Organizations throughout the world have increasingly adopted team-based work structures. Consider the following points:

  • As many as half of the Fortune 500 companies use teams in some part of their operations.
  • Studies of managers show that they spend 30-80 percent of their time in team meetings.
  • As many as 11 million meetings occur daily in North America.

Most models of the organization of the future are premised on teams surpassing individuals as the primary performance unit in the company. Clearly, changes in the world of work—such as advances in information technology, globalization, hyper-competition, knowledge-based work, and worker empowerment—will mean the workplace of the future will be much more collaborative than its predecessor.

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Categories: general

Tags: advice bold business dr. todd harris meetings small business

Coaching is a Daily Practice

4 August, 2010

Contributed by Chuck Carey, the president and co-founder, Troika Design Group, based in Hollywood, California.

When the Los Angeles Lakers won the 2010 NBA Finals, why did celebrated coach Phil Jackson sit on the sidelines while his players celebrated on the court? Why does a baseball coach stay in the dugout when their team leaps onto the field after a win?

From Shakespeare to Eastern philosophy, great minds have said for centuries that true leaders operate behind the scenes, away from the fame. As the co-founder and president of a design and branding company, it is also my chief responsibility to quietly set up my team for success.

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Categories: general

Tags: advice bold business career chuck carey coaching employees leaders tips

Catch Them While They’re Young!

3 August, 2010

Written by Akhil Shahani, director of The Shahani Group.

In theory, all companies like to believe that they’re hiring the best people, and that it really takes talent to make it into their organization. But is that really true? Hiring two out of 200 job seekers doesn’t really mean a thing if they’re not the best among the entire universe of possible candidates. So, how do you go about hiring top quality people?

The real problem with hiring people once they’re through with college is that the best professionals are rarely found in the job market. They’re so busy making it big in their careers, or are so valued by their existing employers, that switching jobs holds very little incentive.

Read More

Categories: general

Tags: advice akhil shahani bold business career hiring interns small business tips

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