No, this isn’t another article about how you can turn your hobby into a side hustle. But having a hobby can be great for your existing business. It may not feel like you have enough time for a hobby, but here’s why you should prioritize hobby time (or time spent cultivating one).
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Does your business seem to be a revolving door of employees? If so, there are several reasons why that could be true that have nothing to do with your business itself. It could be the nature of your industry. Some industries are seasonal or attract a more nomadic employee base that tends to wander. It could also be a problem with one of your managers or supervisors. Perhaps, it’s a lack of growth opportunities.
If you’re shaking your head thinking, “No, that’s not it,” and you’re wondering what it could be for your business, The 2024 Intuit QuickBooks Allstate Health Solutions Benefits Survey may provide some answers. The survey of 1,000 employees from both small and large companies reveals just how important employee benefits packages are in today's competitive job market. Here’s a summary of the key findings: Have you noticed these days that everyone seems to have a course or at least a YouTube video on how they do what they do? Teaching has become a secondary (and sometimes primary) revenue stream for the small business professional. Marketers, eBay sellers, and even real estate agents are turning how-to instruction into a new business.
Sure, it can enhance your brand, generate additional revenue, and establish you as an authority in your field. But it’s not always the answer for every business. Before jumping into becoming an online guru in your industry, it's important to weigh the benefits and challenges to instructional content creation. Here’s a guide to help you decide whether going that route is the right step for your business. If you’re a business owner or feel responsible for a business (regardless of your actual job title), it’s not unusual to feel stuck. No, I’m not talking about the golden handcuff-kind-of-stuck where because of the cost of living, you can’t get off the work treadmill. I’m talking about feeling stuck from a mental perspective—completely uninspired.
Like the business version of writer’s block, when you’re stuck, you’re not feeling creative, and your business is paying the price for it. Yes, the simple answer to when you feel this way is to take some time off—a vacation or, if you’re able, a sabbatical. But that’s simply not feasible for many of us. So, what do you do to bring back that loving feeling? To feel the excitement you used to feel about your business? To see things from a new perspective again? You must first recognize that there is a problem and then you need to shake things up. Trust is the cornerstone of customer relationships, driving sales and fostering loyalty. Yet, building that trust swiftly, especially in a competitive landscape filled with countless options for consumers, can be hard. Establishing credibility and rapport takes time and effort. (It’s the one thing you can’t buy at Costco.) But strategic actions can accelerate trust building. By focusing on transparency, communication, and consistently exceeding expectations, you can cultivate trust quickly and effectively. If you want to build trust with current and potential customers, check out these important values.
On September 1, 2023, we lost a big name in music–Jimmy Buffet. As always happens when a celebrity passes, suddenly everyone is talking about him and his myriad contributions to entertainment. But Buffet’s popularity wasn’t because of his complex songs or his professionally-trained voice (he had neither). Buffet had something else. He became known as the king of vacation, his laid-back attitude was something a lot of people aspired to. For that reason, and eleven others, entrepreneurs can learn from this “son of a son of a sailor.” After all, he “sold” a way of life and a community that most of us find enviable.
The new year is a time of review and introspection coupled with making new promises for the future. We are often filled with a sense of control over our destiny and a desire to begin again. If you’re feeling the same, here are a few ways you can capitalize on the new year’s momentum by embracing the habits of successful people:
From Thanksgiving to Christmas there’s a battle that occurs for consumer dollars. The big guy against the little guy, the brick-and-mortar versus the online retailer, everyone is looking for a bigger piece of the pie. It’s time to start thinking about your holiday marketing.
If you have a brick-and-mortar location, chances are you're doing some sort of decorating for the holidays. Even if you don't celebrate, it's likely your customers do so in order to spread the holiday cheer you get festive.
The same should be true of your website. While you don't need to decorate per se, you do need to prepare for holiday traffic. Even if what you do or sell has nothing to do with Christmas, people often turn to the internet or online solutions during the holiday season. Plus, if you run a business that helps people prepare for the holidays, even if just peripherally, you want to make sure your website is ready. Here's how you can go about doing that: By now you’ve likely seen the statistics that shopping small/local keeps roughly $68 out of every $100 in our community, whereas shopping at a national chain means about $43 remains here. Why is that important and what does it mean to you and your family? A lot more than you may think. How Small Business Spending Makes a Big Difference in Our CommunityWhere Do the Dollars Go? While it’s difficult to track the exact path of a dollar spent locally versus one spent at a chain, you can imagine it looks something like this: That image is an example of what’s called “indirect impact.” Indirect impact is felt when a local business owner or employee spends the money they make locally but it’s not the only kind of impact that can be felt by spending local. Johnny Goes to Band Camp When your son or daughter has a school expense like a club trip, sporting event, yearbook expense, camp, or graduation program, do you email Elon Musk to fund it? No. You ask your local pizza parlor or favorite small business owner. They get their name listed as a sponsor and your child is one step closer to their goal. Small Nonprofits Win Along the same lines of sponsors, when it comes to local nonprofits and raising money for local causes or even natural disasters, it’s the local businesses that come through. They understand the importance of helping neighbors. Yes, large companies give hundreds of thousands of dollars to large nonprofits. We’re not discounting that. But local charities and nonprofits are often not on their funding radars. Chains are doing their part donating to the United Way and national groups like the American Cancer Society. Local charities often rely on local support. We Enjoy a Better Quality of Life According to studies compiled by the Institute of Self Reliance, “the more locally owned businesses per capita that a community has, the better off that place is on many of the other indicators of community health. The larger the share of transactions in our economy—buying, producing, investing—that involve a locally owned business, the more thriving, equitable, and resilient our economy and community can be.” Local Vendors and People Win During COVID and immediately after reopening, there were supply chain issues (we’re still feeling them in some industries). Many of those issues were due to lack of transportation or lack of labor in the transportation industry. That caused many businesses to look for local options to meet their needs. When local businesses pay for things they need to do business (like inventory, utilities, equipment and pay to employees) locally, that has a direct impact on the local economy. Chains and local businesses pay a salary to local employees so they both have a direct impact on the local economy. However, a chain is limited in where it can get its inventory, equipment, and other items from. These costs are probably paid to, or dictated by, corporate. A small business owner makes those decisions themselves and can choose to keep some of those purchases local as well. Jobs Are Plentiful
In times when jobs are needed most—in high unemployment—local businesses are there. According to the article “The Contribution of Large and Small Employers to Job Creation in Times of High and Low Unemployment,” which appeared in the American Economic Review, “…in times of high unemployment, small businesses both retain and create more jobs than large firms do.” Where you spend your money is an investment in the growth and prosperity of our area. You’re either investing for maximized returns on your holiday dollars by spending local or you’re not. We hope it’s the former. |
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