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.
As many entrepreneurs discover, raising money to fund a small business isn’t for the faint of heart. Only 46% of small firms received some or all of the financing they sought in 2014, according to a 10-state survey … But fortunately, new options for small business owners on a money hunt are fast evolving. Here are five that first-time entrepreneurs often overlook. (TIME)
Consumers don’t want to spend time reading about a product; they want videos. And brands that cater to such demands stand to see higher sales and gain loyal customers, according to February 2015 research by Animoto. Among US digital video viewers polled, 62.5% said that companies using video marketing understood how to reach their customers, and 56% believed video was mandatory for company websites. (eMarketer)
First impressions are easy to make and hard to break… For entrepreneurs, an essential part of making memorable first impressions is the business card. Business cards are a way to differentiate your brand from competitors,” says Mark Stokes of MediaNovak, a creative design agency. (YFS Magazine)
In 2000, the majority of tech acquisitions were primarily stock. One company would buy another using its own shares, instead of paying for the target business in cash. But since then, there’s been a secular trend to cash deals. In 2014, 90% of the tech M&A transactions consummated by companies, and excluding private equity firms, in the US with disclosed deal values were cash deals. (TOMASZ TUNGUZ)
Starting a business could make you rich. But that doesn’t mean you’ll be satisfied Researchers have long known that entrepreneurs generally feel much more satisfied than people who work for somebody else. And studies have suggested that the key factor in making them feel that way is money—the more the better. (Wall Street Journal)
Consumer electronics company Jawbone has sued rival Fitbit for “systematically plundering” trade secrets, by poaching Jawbone employees who had access to confidential information and took steps to download this information before leaving the company. According to the suit … Fitbit had recruited an estimated 30 percent of Jawbone’s workforce since early 2015 and induced some employees to join Fitbit, who brought with them “intimate knowledge of key aspects of Jawbone’s business.” (Re/code)
According to new statistics released by the U.S. Census Bureau, there were 30,174 “nonemployer” firms that brought in $1 million to $2,499,999 in 2013. That’s up from 29,494 in 2012 and 26,744 in 2011. And there are many more nonemployer businesses getting close to the $1 million mark. In 2013, there were 221,815 bringing in $500,000 to $999,999, a number that held steady since 2012. What’s driving their success? (Forbes)
How do you become a fantastically wealthy and successful entrepreneur? To the untrained eye, it may seem that wealth is a pure stroke of luck. There are, however, five distinct qualities that have helped the world’s most successful entrepreneurs become incredibly wealthy. (Huffington Post)
Remember, journalists receive hundreds of emails and phone calls a day, and unfortunately, they don’t have time for every pitch. That’s why it is important for you to make the effort and follow up. This is just as important as writing the pitch itself. Here are some handy tips for how to follow up a media pitch. (PR Daily)
Entrepreneurs are known for their passion and commitment—doing whatever it takes to push their small businesses to new heights. But it can be tough to grow a company beyond $1 billion in annual sales without hitting a few speed bumps in the road, as the experience of Greek-yogurt tycoon Hamdi Ulukaya of Chobani shows. Here are five common issues entrepreneurs run into as their businesses succeed and expand. (Wall Street Journal)
Pinterest CEO Ben Silbermann said that while his five-year-old startup has social elements — you can re-pin an image or send someone a private message — he doesn’t view the company as a social network. (Re/code)
It’s no coincidence experienced hiring managers and recruiters tend to get tight-lipped and refuse to celebrate any new hire early. They’ve been burned in the past and have had to learn the hard way a search doesn’t end until the candidate is sitting at their desk for their first day in office. (OpenViewLabs)
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