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June 15, 2012
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Business news you can use from your Better Business Bureau®

  Trends & Trust 
  • Using self-disclosure to establish trust
    In the current business environment, leaders need to be able to build trust with their employees quickly, write Lynn Offermann and Lisa Rosh. One way to do this is through self-disclosure. "There is considerable evidence that leaders who disclose their authentic selves to followers can build not only trust, but generate greater cooperation and teamwork as well," they write. However, self-disclosure may not achieve the desired result if leaders are careless about it, they note. Harvard Business Review online/HBR Blog Network (6/13) LinkedInFacebookTwitterEmail this Story
  • Protect your business from cybercriminals
    Golden State Bridge is one of many companies that has had funds stolen from its bank accounts by hackers. Companies can reduce the threat posed by cybercriminals by making sure they update their firewalls and by making sure employees follow the rules governing computer use. They should also monitor how much is in their accounts and consider buying fraud insurance. The New York Times (tiered subscription model) (6/13) LinkedInFacebookTwitterEmail this Story
  • How small merchants can win with space-sharing deals
    Small retailers are increasingly forming space-sharing arrangements with other merchants, as a way to both cut costs and work together to boost sales and brand awareness. Some who have done it offer tips on finding the right sharing setup, starting with leases that allow for subletting. Entrepreneur online (6/13) LinkedInFacebookTwitterEmail this Story
  Customer Satisfaction & Marketing 
  • 5 tips for reaching more customers
    If you can't find enough customers in your geographic area, it may be time to look for opportunities farther afield, writes Rhonda Abrams of The Planning Shop. "[M]ost products, and even many services, can be sold and delivered from a distance," she writes. Stepping up your online efforts can be an important part of expanding your reach, she notes. USA TODAY (6/14) LinkedInFacebookTwitterEmail this Story
  • Why you should market to Asian-Americans
    Asian-Americans can be a valuable demographic for your business, writes Rieva Lesonsky of GrowBiz Media. While only about 1 in 20 people in the U.S. is Asian-American, they account for 7% of the affluent population. You can reach out to high-income Asian-Americans by using online marketing campaigns and by appealing to their sense of style, she advises. Small Business Trends (6/13) LinkedInFacebookTwitterEmail this Story
  Management & Leadership 
 
  • How to make someone's brain buzz
    If you choose your words carefully, you can establish "neural resonance" with those around you, breaking down the barriers that usually exist, writes Andrew Newberg. By staying in the moment, listening compassionately and tailoring your speech accordingly, you can inspire others and win their trust. "[I]t only takes one effective communicator -- one compassionate leader or teacher -- to cause a roomful of language-based brains to resonate to the quality of your speech," Newberg writes. Fast Company online (6/14) LinkedInFacebookTwitterEmail this Story
  • 3 tips for assessing the competition
    It's easy to get distracted by other concerns, but you should be aware of your competitors, David Choate writes. Determine which businesses are competing with yours and figure out how your company measures up against them, he writes. Small Business Trends (6/14) LinkedInFacebookTwitterEmail this Story
  • What's the best way to give feedback?
    There are several different ways to think about feedback, writes Margaret Heffernan. While some people think that giving feedback should be a continual process, management consultant Charles Jacobs argues that feedback is ineffective. "While I can appreciate Jacobs's approach, I can also see how it could get intensely annoying -- [a] lot of leading questions in place of a few straight remarks," Heffernan writes. CBS MoneyWatch (6/13) LinkedInFacebookTwitterEmail this Story
Most small business owners know the importance of managing credit effectively and that a "one size fits all" model won't work. Use Managing Credit - Made Simpler to find the right credit management model for your business and to help identify strategies to ensure you are on top of your business's financial condition.
  Funding & Finance 
  • The advantages of invoice factoring
    If you need to improve your cash flow but don't want to add to your debt, invoice factoring might be a good option. Companies can use this strategy by selling their receivables to other businesses, which buy them at discounted rates. "By using factoring as an income-generating tool, a business can immediately increase its cash flow without having to wait for loan approval and without having to increase its debt service," Lisa Ryan writes. B2C Marketing Insider (6/12) LinkedInFacebookTwitterEmail this Story
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  BBB in the News 
  SmartQuote 
Be happy. It's one way of being wise."
--Sidonie-Gabrielle Colette,
French novelist and performer


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