Monthly Archives: May 2019

Can a New Restaurant Ever Be Too Successful? | AllBusiness.com

Given the dismal failure rates for new restaurants (some reports put it as high as 90%), it is heartening to watch a local restaurateur succeed with a new restaurant. But can a successful new restaurant ever be too successful?

Being “too successful” may sound like a nice problem to have; after all, how can you ever have too much success? But a hot new restaurant can, in fact, overestimate its capabilities and cause its own demise.

Read More

58 Percent of Small Businesses Spend 5 Hours or Less on Marketing | Small Business Trends

How much time do you spend on marketing for your small business? A new survey carried out by OutboundEngine reveals 58% spend five hours or less on marketing. And stress is a major contributing factor for how much time small business owners spend.

Titled “Stress, Time & Growth: Factors Affecting Small Business Marketing in 2019,” the report looks at the marketing strategies of small businesses. And according to OutboundEngine, the complexities of today’s small business ecosystem is making marketing much more difficult.

Read More

What is up with My Employees? | Management Consulting Connection

When we left off with Sarah, she was going to do some research to understand what was going on. In this posting, we’ll share Sarah’s findings and next steps outlined with the organization.

Sarah’s Findings

Sarah met with a number of employees from throughout the organization, at all levels, to understand more about what was happening. The employees she met with were more influential among their peers and therefore were likely to have had conversations with their peers about perceptions of the organization. She also met with the COO. Below are the findings from her meetings/research, presented at a high level.

Read More

Why You Should Take a Break from Your Business (and How to Do It)

A sabbatical can work wonders to restore your mindset and motivation.

It doesn’t help you or your customers if you work all the time and never take a break to recharge. Entrepreneur motivation requires time for new ideas, restoring energy, and creative thinking.

I decided to take a break from my business in 2018. I took seven months off and hiked 1800 miles of the Appalachian Trail. It was both the most difficult and most amazing thing I’ve ever done.

Not everybody can take seven months away from their business, but even if you can take a shorter break, you’ll reap amazing benefits. You’ll recharge your batteries and come back feeling more inspired, more creative, and with a more positive mindset than you’ve ever had before.

Read More

How to Assemble a Team for Selling Your Business | Business

After years of running your business, you’ve decided to sell.  Maybe the “next generation” doesn’t want to take over the business, or you’ve decided to retire or start a new business; maybe you just feel the time is right.  If you’ve never sold a business before, you’re probably wondering what you need to do to get from “I’ve decided to sell” to “congratulations on the closing.” Putting together the right team should be your first step.

Your best chance of having a smooth and successful transaction is to put the right team together, which will consist of an accountant, a lawyer, selected key employees and in all likelihood, an investment banker. Yes, the outside members of the team are an added expense, but it will be money well spent. Let’s take them in order.

Read More

Best New Crowdfunding Projects on Kickstarter and Indiegogo this Week | Digital Trends

At any given moment, there are approximately a zillion different crowdfunding campaigns happening on the web. Take a stroll through Kickstarter or Indiegogo and you’ll find no shortage of weird, useless, and downright stupid projects out there — alongside some real gems. We’ve cut through the fidget spinners and janky iPhone cases to round up the most unusual, ambitious, and exciting new crowdfunding projects out there this week. Keep in mind that any crowdfunding project — even those with the best intentions — can fail, so do your homework before cutting a check for the gadget of your dreams.

Read More

How POS Systems Help Improve Customer Experience | The Startup Magazine

If you own a retail business, customer experience needs to be one of your primary concerns. With more and more consumers turning to the Internet for many of their shopping needs, creating a positive experience is one of the most important things you can do to keep customers coming to your location instead of shopping online. While often thought of as solutions for accepting payments, POS systems are powerful tools that can help with nearly every aspect of your business – including improving customer experience.  From streamlining the checkout process to providing an opportunity for shoppers to share their experiences, there are several ways that POS systems can help improve customer experience.

Read More

Avengers: Endgame beats box office records with $1.2bn debut | BBC News

Avengers: Endgame has made box office history by taking a record-breaking $1.2bn (£929m) in global ticket sales in its opening run.

The Disney blockbuster has become the fastest film ever to break the $1bn barrier, doing so in just five days.

Endgame is the 22nd offering in the Marvel Studios superhero franchise.

Its opening takings smashed the previous global debut record of $640m set by last year’s Avengers: Infinity War.

Read More