Instagram has posted strong user growth and boasts a huge number of daily active users, making it a potentially lucrative platform for brands. Carlos Gil, CEO of Gil Media, explains how to make use of the social network by discussing the purpose of hashtags, Stories tools and location tagging.
Robert Sutton, a professor of management at Stanford University, reflects on the power of an offhand comment and discusses the trouble this can cause leaders. Sutton advises a clear distinction between actual commands and when you're thinking out loud.
Creating distance between yourself and your team will limit your ability to collaborate, write Edgar Schein and Peter Schein. "The more you get to know each other, the more likely it will be that people will be more open both in producing new ideas and in challenging groupthink," they write.
Referencing her own experience as an entrepreneur, Ashley Hampton discusses how small businesses can tap into the insights data can provide. It's important to perform a monthly analysis of revenues and expenses, drill into customer information and create processes to handle repetitive tasks, she writes.
Buying a business can be a more complicated process than people realize. Prospective buyers should seek to understand the emotions of the seller, analyze the source of the business' profitability and do their due diligence.
Small-business owners seeking loans have to be prepared to navigate a maze of complex banking terminology, writes Megan Tyler. She offers definitions for six terms, including APR, factoring and merchant cash advance.
Employee turnover can be especially painful for small businesses, but these companies can use a variety of tactics to boost retention. Entrepreneurs offer several tips, including giving employees opportunity for advancement, offering feedback and explaining why the work matters.
Lila Owens spent a decade working for her family's real estate business after college before pursuing her passion by opening Cupcakin' Bake Shop in Berkeley, Calif., in 2014. Owens is now leasing a second space, and she plans to expand her business and her product line.
Virtually none of the gemstones, silver or gold that go into the handcrafted custom jewelry that is the hallmark of Amber's Designs Fine Jewelry outside Houston comes from the US. That's why owner Amber Gustafson is concerned the growing trade war could mean increased costs for her and higher prices for her customers. Read more.
MainStreet SmartStat: Aug. 17, 2018
Online retail sales in July were up 11.3% year over year and 0.8% month over month. Source: NRF
NRF upgrades 2018 economic forecast but says tariffs remain a threat
With retail sales growing faster than expected thanks to tax reform and other economic factors, NRF has increased its forecast for 2018 but says tariffs threaten to dampen consumer confidence. NRF now expects sales to grow a minimum of 4.5% over 2017 rather than the 3.8% to 4.4% forecast earlier this year. Read more.
If there's something I like to eat, then I want to learn how to make it.
Lila Owens, owner of Cupcakin' Bake Shop, as quoted by Berkeleyside