Entrepreneurs continued to project a strong business outlook this spring even as confidence in the national and local economy weakened, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. Health care costs and the political environment topped the list of small business owners’ concerns for the year ahead, while entrepreneurs reported a mixed view on the impact of last year’s landmark tax reform and shifts in trade policy. Read more.
On Sunday, May 5, the U.S. Small Business Administration National Small Business Week 2019 kicks off with a week long celebration. And once again, Small Business Trends is proud to be named a co-sponsor of National Small Business Week.
National Small Business Week 2019 celebrates and recognizes the contribution of small businesses in the U.S. for the whole week until Saturday, May 11. And with so many events, promotions, and deals to be had, the Big List of National Small Business Week is designed to help you find what is taking place across the country. Read more.
Gen Z keeps confounding Corporate America. They’ve shunned beer, they want companies to take political stands and they trust Kardashians to make their makeup choices. But perhaps the biggest surprise about this new cohort of teenagers is the most unexpected of all: They love the shopping mall. Around 95 percent of them visited a physical shopping center in a three-month period in 2018, as opposed to just 75 percent of millennials and 58 percent of Gen X, according to an International Council of Shopping Centers study. And they genuinely like it; three-quarters of them said going to a brick-and-mortar store was a better experience than online, ICSC found.
Nimble retailers are making their stores more Instagram-worthy in a bid to appeal to this connected crowd. About a third of Gen Z consumers say shopping should also be entertaining, according to data from Cassandra, a cultural insights and strategy agency. With these Gen Z shoppers in mind, old-guard department store Macy’s Inc. earlier this month rolled out in 36 of its locations “Story,” a colorful themed shop-in-shop. In its behemoth Herald Square store, the 7,500-square-foot space is brightly painted with primary colors, a pillar completely made of Crayola crayons, a pingpong table and a rainbow tunnel. Read more.
This week on Franchising & You, newly appointed president of the International Franchise Professionals Group, Red Boswell is our guest. Based upon his insight from his experience working with third-party sellers, Red shares his perspective on how candidates can greatly benefit by understanding the value of the Franchisor / Franchise Consultant relationship. Red also provides input on the growing home-based sector of franchising and how the Franchise Consultant helps close the gap often filled by the candidate’s lack of personal experience with the brand.
Franchising & You airs every Saturday at 9:30 AM EDT / 8:30 AM CDT with each segment available on-demand. Listen here.
Sleep is one of the most important investments you can make to succeed as an entrepreneur.
“Just when you need to be bursting with energy and busting stress to enable constructive, creative business thinking, lack of sleep instead reduces your ability to concentrate, calculate, think logically and remember.” Harvard sleep expert Dr. Charles Czeisler
Do you rely on that Grande Starbucks latte with an extra shot of espresso to get you going in the morning because you’re sleep deprived? If you do, you’re not alone. While sleep is a necessity, most of us aren’t getting enough of it. In fact, the Centers for Disease Control and Prevention (CDC) recently declared sleep disorders a public health epidemic. Research conducted by the CDC found that 23.2% of survey respondents (almost 50 million people) reported having problems concentrating during the day and 8.6% (18 million) said that sleep deficiency interfered with job performance.
The New York Times reported that 1.23 million days of work in the U.S. are lost each year due to chronic sleeplessness. Entrepreneurs are especially susceptible to sleep deprivation. In the early days, it’s tempting to stay up all night or sleep for a few hours at a time as you get your business up and running. Instead of benefiting your startup, this routine will backfire over time. Read more.
Welcome to Franchising & You! If you’re interested in learning more about owning your own business and considering franchising as the path to business ownership, then this podcast is right for you. If your interest is in expanding your portfolio of businesses and franchises, then you’re in the right place. And, if you’re a current business owner exploring whether or not to franchise your business, then Franchising & You is right for you. Read more.
When you first started out in business you probably did everything yourself. It took patience, tenacity, and discipline. You should be proud of yourself for getting this far.
Who has the time to teach someone else every little detail involved in getting these tasks done? It only takes a few minutes to knock them out yourself, teaching sucks up so much more time. It’s just easier to do it myself.
As time has passed and business has grown, you may have lost patience with the tedious tasks involved in running your business. This impatience, frustration, or whatever you would call it, is your brain telling you it’s time to step away from the busywork. It’s no longer your job to see to the minor details. Don’t ignore this message; to succeed you’ll need to hand off your non-entrepreneurial tasks. Read more.