Weekly Buzz: Sit back, relax, and enjoy our curated reads. Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
Dump that shirt that isn’t selling well. Delete SKUs with low sales. Don’t carry that product line because no-one’s buying it. Jack your prices around because that’s what your competitors are doing — and in real time. Right? Well, the answer is a resounding: Don’t do it! Here’s why. (Upstream Commerce)
Fewer than 1 in 5 companies around the world (19% in the US) meet their sales lead generation targets, reports 360 Leads in a recently-released study. The research examines the use of various lead generation channels, finding that different groups rate them in different ways depending on their performance, size, and function. In fact, about the only thing that respondents agree on is that internal issues are an impediment to meeting targets. (MarketingCharts)
One of the business ironies that many entrepreneurs have learned the hard way in the past is that ideas which are truly disruptive carry the highest risk of failure, take the longest to gain traction, and thus are the least likely to get external funding. So some entrepreneurs stick with incremental solutions, avoiding more transformational or adaptive solutions implying disruptive change. (Forbes)
You already know that if you follow people on Twitter, a portion of those users will follow you back. But is that really the best way to get your first 100 Twitter followers? It actually isn’t! From running contests and writing guest posts to reaching out to influencers, you can use at least 10 different tactics to grow your follower count. (Quick Sprout)
There’s an old Silicon Valley stereotype that MBAs are stiff, corporate types who you bring in to help grow your business but who lack the vision or creativity to start something worthwhile of their own. In the HBO series “Silicon Valley,” for example, business school grad Jared completely lacks personality and serves as the caregiver of the quirky entrepreneurs, who initially have no idea how to draw up a business plan. (BusinessInsider)
Giving credence to the adage, “find a way to get paid for the job you’d do for free,” passion is arguably the most important component startup business owners must have, and every edge helps. While the prospect of becoming your own boss and raking in a fortune is alluring to entrepreneurial dreamers, the possible downside to hanging one’s own shingle is vast. Income isn’t guaranteed, employer-sponsored benefits go by the wayside, and when your business loses money, your personal assets can take a hit — not just a corporation’s bottom line. (Investopedia)
Startups are usually strapped for cash. The ones promising enough to receive large checks from venture capitalists and investors are not so much jumping for joy because they’ve won the lottery, rather because they know the cash injection means an extended lifespan. One sizable drain on any young company’s resources is the cost of living in the city it calls home. (Forbes)
Twitter can be an incredibly effective addition to your online marketing and a strategic way to amplify and unleash your personal brand to the online world. Twitter moves fast, but with practice and a little structure, Twitter can be a fantastic network builder. When you use it to listen, monitor, and research what is happening in and around your personal brand, you become agile and able to adjust to the ever-changing needs of your target market. (PRDaily)
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.