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.
Wisdom, in the words of Maria Popova, is knowledge that matters; it has both a practical and moral component to it that enriches our lives and ushers us to act wisely. Because the path to creativity is fraught with uncertainty, fear, and self-doubt, we naturally look to the wisdom of others to stop us from getting off course. (99U)
The entrepreneurial buzzword that drives me crazy is exit strategy. Entrepreneurs, especially family-owned business leaders, obsess over exit-strategy planning and devote immense time, money and other resources to the effort. What they ignore, however, is that planning an exit strategy requires the simultaneous acts of planning entry strategies and leadership-development plans … (The Wall Street Journal)
It is possible to create a good startup with a good idea, but great startups are often the result of ideas that seem ridiculous if you hear them prior to seeing them work.This is true almost by definition: If the idea is so obvious, someone would have [brought it to life] already. Ask yourself, if you were a venture capitalist who was pitched one of these ideas, what would your reaction have been? (Mashable)
Flu season and winter storms are here, which means a slowdown in productivity if your small business doesn’t have a contingency plan in place. While everyone thinks about creating a remote worker environment after a major disaster, it’s something that should be on the books and tested all the time. (FOX Business)
Whether you’re talking football, engineering, or acting, you’ve seen the best and brightest make mistakes. Fumbles, crashes, and bloopers—the losses can be minor or tragic. Likewise, they can be in business presentations. Mistakes can cost a sale, a promotion, or a career. The best business presenters and public speakers never fumble in the following six ways. (PRDaily)
As a small business owner, a deep understanding of your company’s financial situation drastically improves your chance of long-term success. When you know exactly where you stand in terms of your financials, you can plan for the future and avoid common financial management pitfalls. (The Globe and Mail)
The shift in power in Congress may give small businesses help with taxes and regulations, but there’s little expectation that sweeping changes are in store. In fact, more gridlock could be on the way. Although Republicans won a majority in the Senate in Tuesday’s election, Democrats have enough votes to prevent GOP leadership from cutting off filibusters aimed at stalling legislation. And President Barack Obama can veto bills. That could result in little getting accomplished. (ABC News)
Unfortunately, many entrepreneurs seem to prefer to fail their way to the top, rather than do some research and learn from the successes and mistakes of others. It seems to be part of the “fail fast, fail often” mantra often heard in Silicon Valley. As an advisor to many startups, I’m convinced it’s an expensive and painful approach, but I do see it used all too often. (Forbes)
Whether you’re creating an innovative mobile user interface or a brand new web series, competition in the creative industry is as stiff. Time and effort alone aren’t enough to gain a real competitive advantage. Consider some of your favorite products, as stated in entrepreneur and tech investor Peter Thiel’s Zero to One. (99U)
Not too long ago I asked myself, “Why is it that the best athletes in the world are always working at becoming even better athletes, yet the best thinkers in the world don’t work on becoming better thinkers?” World-class athletes like LeBron James, arguably the best basketball player in history, continue working on their vertical leap, strength, flexibility, shooting and nutrition. So, considering that their brains are the most important contribution that CEOs give to their companies, why aren’t they constantly trying to improve their decision-making and overall brain function? (CEO)
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