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Grab this opportunity to finance business growth
Lloyd Princeton Business Management, Services & Risk ManagementYou may have seen mentions in the business news of late to "free money." Perhaps you thought to yourself, "how do I get some of that?" In reality, of course, the money isn’t free. But interest rates are so low right now that, relatively speaking, by traditional lending standards it is practically "free," which is to say that the cost of borrowing is not much more than the cost of the principal. That makes this a great time to raise money to fund business expansion and new ventures.
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7 marketing mistakes you may be making at your spa
Elizabeth Donat RetailI recently had the opportunity to do a live Instagram interview with Meghan O'Brien, who owns Marketing with Meg. Her company specializes in marketing consulting, courses and tools focused on the esthetics arena. Lucky us! During our chat, she shared some amazing tips but also highlighted some of the common mistakes that she sees out there with some easy tips to fix them. Please read through these and see if you are making these mistakes at your spa or medspa. This is some guidance you won't want to miss!
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How to advertise your small business inexpensively
Amanda Kowalski MarketingGetting the word out about your business can be the most frustrating thing a small business owner faces. If you build the world’s greatest mouse trap, but nobody knows about it, you aren’t going to sell any. With a small business’ limited budget, how can you spread the word? In the 21st century, there are myriad free or inexpensive ways to advertise.
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4 outdoor adventure companies that pivoted to mask manufacturing and how…
Amanda Ghosh Recreation & LeisureThe air is crisp, the foliage is spectacular, and the mountains are calling. Fall is the perfect season for an outdoor adventure. This year, in addition to wearing your favorite cycling jersey, headband, waders, or hiking pack, you'll add a face mask. Check out how these four outdoor adventure companies pivoted to mask making and see how they're doing now.
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Workplace survivor syndrome is another consequence of COVID-19 for businesses
Terri Williams Business Management, Services & Risk ManagementCOVID-19 has resulted in the loss of over 210,000 lives, but also the loss of livelihood for many Americans. According to September data from the U.S. Labor Department, 2.4 million people are experiencing long-term joblessness. By November, that number could more than double. While the employees who are still employed may feel grateful or fortunate, Challenger, Gray & Christmas present another emotion that these workers may experience: guilt. The executive outplacement firm Challenger, Gray & Christmas recently recommended that companies acknowledge their remaining employees may be dealing with survivor’s guilt and find a way to deal with it.
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A ‘satisfaction guaranteed’ promise holds you hostage to another’s…
Anne Rose Business Management, Services & Risk ManagementWe recently discussed the real hazards of stamping "lifetime warranty" on your products. A close corollary to that is promising "satisfaction guaranteed" on your professional services. You might make that offer because you are proud of the quality of your services — so confident that your work will be above reproach that you are implicitly claiming that you’ll redo the work or refund to make the customer happy. Think about that outrageous promise. How can you possibly guarantee another’s happiness? Why hold yourself hostage to that?
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Infographic: The business of fake supplements
Maggie Kimberl PharmaceuticalIt probably isn't surprising that 77% of supplements sold online are sold by Amazon — more than the top five specialty retailers combined. But what might be shocking is how many of those supplements are fake, expired, or mislabeled. This infographic outlines the loopholes that allow third-party sellers to sell unsafe supplements on Amazon as well as tips to avoid them.
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How geofencing can help get your profits back on track
Lisa Mulcahy MarketingGeofencing technology allows you to reach customers at or near your store locations easily and inexpensively. In a nutshell, geofencing creates a virtual "boundary" around your business location using GPS- or RFID-enabled software. Geofencing can also be used to deliver key sales information to potential customers if your business is located in a competitive area. How can you use the technology to your greatest advantage? Focus on the following key points.
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The impact of shrinkage in grocery stores and how to fight it
Andrew Hoeft Food & BeverageAccording to industry surveys, retail shrink ranges from 1.7% to over 3% of total sales, with grocery stores operating on the highest end of that range according to FMI’s 2019 Food Industry Speaks study. Beyond direct inventory dollar costs, grocers also experience increased labor costs and lower customer satisfaction as a result of shrink. The COVID-19 pandemic has delivered a temporary Band-Aid to grocers as the sales surge masks underlying root causes and symptoms. However, in time, the pandemic will pass and grocery shrink will rise north of 3% again, unless today’s profits are invested into preventative, long-term shrink savings strategies and technologies.
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The ultimate WFH guide: Everything you need to create the perfect home…
Terri Williams Business Management, Services & Risk ManagementWorking from home is the new normal for millions of Americans. In the past, you may have occasionally worked from home — which typically involved balancing a laptop on your knee or creating some space on your kitchen countertop. But now that you’re working from home on a regular basis, neither is a viable option. However, creating an effective (and comfortable) work-from-home office space includes various components. We rounded up a variety of interior designers, organizers and other experts, along with some of the coolest WFH items, to create the ultimate home office guide.
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