When Mark Riley purchased his first iPhone, in 2010, the global economy was still reeling from a recession caused in large part by excessive debt burdens–not exactly an ideal business climate, at least by conventional standards. Where others saw unnecessary risk, however, Riley sensed opportunity.
My father once told me it’s impossible to manage what you don’t understand. As a sales manager with three decades of experience behind him, he's seen his share of changing consumer preferences. In my generation, the Millennials, marketers today are faced with a seemingly impossible task: chasing an often inscrutable and ever-elusive target audience.
Have you found your sponsor yet?
Not a mentor, a sponsor. Sure, a mentor is important in helping to define your dream and understand your world. But it’s a sponsor that’s the dream-enabler, says Sylvia Ann Hewlett, a scholar, author and president and CEO of the Center for Talent Innovation (CTI). A sponsor is key for really fast-tracking your career, she says, connecting you with the right people and supporting your ascent.
FreeEnterprise.com got to know Red Frog Events when the active entertainment company won the Chamber’s DREAM BIG Small Business of the Year award. The infectiously fun Chicago-based firm has created events including the Warrior Dash and Great Urban Race—it has also created an enviable company culture.
Within our first month of publicly launching Ministry of Supply in June 2012, we sold more than 6,000 shirts and gained 4,000 customers. Our company grew fast because it had to. We were an adolescent trapped in a baby’s body — we had to learn how to sprint before we could learn how to walk, and we had some serious growing pains as we tried to scale production from 300 to 6,000 shirts a month. However, we quickly realized that by empowering our customers and empowering our company, we could truly grow the way we wanted. Everything we do comes down to empowering people to be their best.
For business owners, every new year is an opportunity to change. But how many of us actually keep our resolutions when the daily grind catches up to us? This year, I suggest you dump those resolutions — and make commitments to yourself instead.
As 2013 draws to a close, now is the time to plan what you’ll be paying yourself and your staff next year.
If you are self-employed, payments you take as draws have no tax implications, but if you’re an employee of your corporation, figure your salary for 2014.
Compensation paid to owner-employees as well as to staff members of any businesses impact what the business can deduct as well as what employees report as income.
Here are some issues to consider:
This article is cross-posted from the Young Enterpreneur Council.
Hello. My name is Chris, and I’m an email addict.
Email addiction is taking a serious toll on both our personal lives and work productivity. Long gone are the days of handwritten letters, snail mail and faxes. Why use those outdated practices when you can simply type a message from anywhere and instantly send it to anyone in the world.
Is a business "socially responsible" if it does no harm, follows government mandates, and recycles?
Well, doing those things isn't socially irresponsible but these days customers expect more than the bare minimum of "do no harm." They expect positive action. They expect you to make the community that supports the business a better place.