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Compelling Small Business Story
A great narrative about your small business will build trust and connection with your target audience. Here’s how to develop and share your story. Humans crave connections in every facet of their lives. For business owners, a powerful and well-crafted story is the best way to forge those connections and make sure your brand resonates with your target audience.
Empathy and Accountability:
In this edition of "Ask the Board," we asked Jaime Blaustein, CEO and Co-Founder of the Sylvia Brafman Mental Health Center, to advise small business owners on how they can strike the right balance between empathy and accountability. If you could create your own fantasy board of directors, who would...
Pivoted and Built a Multimillion-Dollar Self-Care Brand
When competitors copied her hair tie innovation, Louisa Booth shifted her business model to self-care. Her new brand, Popmask, is now in 35,000 retail doors from CVS to Nordstrom. Why it matters:. After working in the investment banking industry, beauty entrepreneur Louisa Booth built hair-tie company Popband for women by...
IT Management
IT management ensures your system operates efficiently and employees work more productively. Roughly 95% of small businesses use at least one technology platform since technology usage is associated with an increase in sales, employment, and profits. However, companies that rely heavily on technology should consider implementing IT management. Let’s look at how IT management works and how you can implement it in your business.
Accept Credit Card Payments
Accepting credit cards helps small businesses increase revenue and attract more customers. This step-by-step guide explores ways to take payments online, in person, and over the phone. Aside from fees, it's hard to argue against the benefits of accepting credit cards. Electronic payment options are convenient, support multichannel sales, and...
I'm Not a CEO, I'm a Coach: This C-Suite Exec's Approach to Leadership
In this edition of "Ask the Board," we asked Shane Evans, Co-Founder and CEO of Massage Heights, a leading massage and wellness franchise, to share her leadership tips. If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we asked a C-suite executive how to effectively lead a team.
How to Calculate the Costs of Manufacturing a Product
Calculating your manufacturing costs can help you improve your pricing and boost your bottom line. Total manufacturing cost is the metric used to describe the amount your business will spend to manufacture its products. Knowing your total manufacturing cost will help you make better budgeting decisions, find a manufacturing partner, and price your final product for customers.
Credit Card Authorization
If your business accepts large or recurring payments, a credit card authorization form can prevent fraud and chargebacks. Learn how the authorization process protects cardholders and merchants. Credit card authorization occurs during a sale, whether over the phone, online, or in person. This quick preapproval process occurs automatically millions of...
3 Unexpected Ways AI Will Change Small Business
Business owners are finding new ways to leverage artificial intelligence for growth and efficiency as this technology continues to evolve. In recent years, artificial intelligence has had a tremendous impact on small businesses. More than half (54%) have cited AI as a key reason behind their growth, and nearly three-quarters believe that internal use of AI tools could give them an edge against competitors.
Manufacturing Business Plan
A manufacturing business plan can help get your new venture off the ground and running smoothly. A manufacturing business plan outlines the goals, strategies, and operations of a manufacturing company. Use this article as a road map for your business and to help recruit investors as your operation grows. Manufacturing...
Credit Card Machines and Terminals:
The right payment processing hardware improves customer experiences and increases efficiency. Explore countertop and portable equipment options. When choosing tools to support your payment acceptance strategy, the types of credit card machines and terminals you outfit your business with matter. Not all devices take contactless payments or work with existing systems. Some have built-in receipt printers, whereas others email or text billing statements.
Mastercard’s SVP On the Mentor Who Taught Her Lifelong Leadership Skills
Salah Goss explains how her mentor taught her to lift folks on her shoulder, then how to keep them steady for years to come. Why having a mentor is important, according to Mastercard SVP Salah Goss:. They see things about you that you would never see in yourself. They are...
Payment Gateways vs. Payment Processors: What's the Difference?
Although payment processors and gateways play vital roles when businesses accept credit cards, their functions differ. Compare solutions to see which one you need. The payment ecosystem involves many players, including payment gateways and processors. Shoppers interact with gateway technologies when checking out from your e-commerce platform or payment link. Meanwhile, merchants rely on processors to process and deposit funds securely.
'Feature Creep' Teaches Small Businesses
A new study shows that feature creep can dampen sales in more ways than one. As technology gets more complex, marketers must find a way to communicate the many capabilities that new products offer without confusing consumers. This challenge was the subject of a recent study by researchers at The University of Texas at Austin's McCombs School of Business, who dug into the phenomenon of “feature creep” and its impact on consumer sentiment. Researchers found that it’s not just the number of features that marketers should worry about; it’s also how the features work together that needs to be clarified for potential buyers.
Kiehl’s Executive on How Partnering With Amazon
General Manager John Reed on being the latest premium brand to embrace the online giant — which is edging toward becoming the nation’s top beauty seller —to woo new customers. Why it matters:. Beauty brands, both heritage businesses and emerging startups, are using Amazon, the nation’s biggest...
In this edition of “Ask the Board,” we asked Kate Assaraf, mother and Founder of Dip, to provide tips on how to strike a balance between motherhood and entrepreneurship.
If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask an expert about how moms can succeed while running a business and raising their children.
'Mobile Giving Gap'
A recent study shows that consumers take in information differently depending on their device. A study published recently in the Journal of Consumer Psychology proposed the existence of a "mobile giving gap" — a phenomenon in which consumers are less likely to donate (or donate less) when they're using their smartphones than if they are on a PC. Researchers found that consumers process information and behave differently on their smartphones compared to browsing on laptops or desktop computers.
Wonder CMO on How Partnerships With Walmart to Chef Bobby Flay Are Key to Growth for the Digital Food Hall
Daniel Shlossman on how big retailers and high-profile chefs from Marcus Samuelsson to José Andrés are incentivized to help serial entrepreneur Marc Lore’s ‘fast fine’ dining concept grow. Why it matters:. Sixty-six percent of consumers said they are more likely to order takeout food from...
5 Low-Cost Ways to Retain Employees
You can improve your company’s employee retention rates, even if you don’t have a lot to spend. Offering competitive salaries is the most obvious way to improve employee retention, but it may not be an option for small businesses with a limited budget. If you find yourself in this situation, here are five low-cost ways you can improve your employee retention rates.
Turn Off Social Media Comments
It's best to keep the comments turned on, even if someone has negative feedback for your business. There are times when small businesses with active social media accounts might be tempted to mute user comments to avoid negative feedback or controversy, but a recent study suggests that may not be the best approach.
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