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.
It’s a question that has been debated by academics, venture capitalists, economists and psychologists for centuries: what sets entrepreneurs apart from other people? Is it their appetite for risk-taking? Are they more ambitious or determined? What traits can be adopted by individuals to make them more entrepreneurial? (The Telegraph)
Corporations have rediscovered venture capital, plunging into the industry in search of ideas and products to keep their businesses humming. But their timing has never been especially good. They jumped in during the dot-com bubble only to head for the hills when things turned sour. This time out, they seem to be especially interested in early-stage companies and some are behaving like venture firms. Have things changed? Are they in for the long haul? (The Wall Street Journal)
There’s a huge roadblock that paralyzes our growth in its tracks. No, I’m not talking about being denied a loan from a bank, not getting a contract or even receiving a bad review on Yelp. Rather, small business owners are plagued with fears the size of a mustard seed, which grow, paralyze and harm their business growth. In my executive coaching business, I routinely hear CEOs express these top 5 fears that prevent their growth. (The Huffington Post)
Even large companies with IT security teams such as Target, Home Depot, and even TJX Corp have faced security breaches in their database. Millions of clients’ information was released, which leads to distrust of the brand. The impact of a security breach could cause a larger effect on your business due to a smaller client base. When you are small business owner, you most likely can’t afford your own security team. However, you can do your best to prevent a security breach through a few simple tips. (The Huffington Post)
From the outside, entrepreneurship can look almost glamorous — being your own boss, living life on your terms. What’s typically overlooked is the nitty-gritty — the long days, the stress, and the fact that as an entrepreneur, you’re forced to wear a variety of hats, if not all of them. And one of those hats is money manager: You need to know enough about finance to avoid expensive blunders. Here are six entrepreneurial money mistakes that are all too common — and how they can be fixed. (Daily Finance)
In today’s fast moving world of business startups, learning trumps knowing every time. What established businesses know through experience keeps them from looking for the new and innovative ways to do what they do better, cheaper, and faster. I’m convinced that’s why most mature companies are slowing down or buying their innovation through acquisition, rather than building it. (Forbes)
Most people entertain the idea of becoming an entrepreneur or independent contractor to become their own boss. Being in control can be a satisfying aspect of business. For certain things, including retirement planning, however, self-employed small business owners are more likely to delay. So, why is retirement planning often delayed or even ignored by small business owners? (Nerd Wallet)
From the red Dell laptops for AIDS awareness to pink Nike high-tops for breast cancer research, more companies are embracing social causes as ways of helping themselves and others. Such cause-related marketing generally produces win-win outcomes: The for-profit companies generate goodwill and earnings, while the nonprofit causes share in income they may not otherwise have seen. (PR Daily)
Many founders and CEOs of startups don’t spend a lot of time thinking about CFOs. When it comes to finance for a startup, founders focus on more pressing needs: What’s my burn rate? How long is my runway? How does our annual recurring revenue (ARR) look? How much more money do we need? As an entrepreneur who has sold two companies over the past decade, I can speak from experience that it isn’t until a startup reaches some success — systematic product launches, lucrative partnerships, international expansion and reliable revenue growth — until they inevitably begin to ask The CFO Question. (TechCrunch)
Godin Almighty. Yes — Seth Godin looms larger than life. Powerful on stage. Even more so in person. As I sat 24 inches from this legend in a dimly lit room backstage, just the two of us alone in our own little world, I probed as deep as I dare go into his brilliant mind. But first, some context: Godin just wrapped a 60 minute presentation at Infusionsoft’s annual small business conference called ICON14. Three thousand screaming entrepreneurs were standing in ovation to the art he delivered onstage, insight and wisdom you can take to the bank and cash. (Forbes)
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