Summary of “Ace Your First Impression: Then Follow These 7 Steps to Keep Impressing”

So how do we do this in business? How can you make the impression you want, and then keep impressing them enough to create a lasting relationship?
For YPO member Heather Shantora and her company, success is all about relationships.
Shantora always gets to know the people she’s working with, and she sincerely cares about them.
Shantora expresses her enthusiasm for the possibilities when she says, “My frame of mind is one of learning from one another and innovating in new and creative ways. Instead of trying to one-up each other, we can leverage each other’s strengths. To me, this is the epitome of working smarter, not harder.” By working together, you can make both your industry and your individual business that much stronger.
Unlike some CEOs, Shantora believes her job requires her to be intimately involved in the finer details of the business.
“For me, it’s important that at every level of the business, I am able to meet an individual in their role and know about their day and job. They are consistently surprised that I know and care about the details.” Some CEOs don’t get involved at this granular level, but for Shantora, “I don’t comprehend how one can make decisions about the business if they don’t.” Another reason for this approach is “Knowing which dark corners of the business to probe. Working ‘in’ the business is actually as important as working ‘on’ the business,” she explains.
Listening to a variety of opinions helps your company grow and helps you become a better CEO. Shantora explains, “Diversity of minds enables me to identify my own blind spots, and I use that to become a better leader.” Don’t be afraid of being challenged.
Jim Collins’ research in Good to Great shows that a consistent feature of great CEOs is humility, and to Shantora, the underdog mentality requires humility in abundance.

The orginal article.

Summary of “Bad Internet Maps Are Created to Make You Crazy”

The post accompanying the map on Business Insider explained the crackpot methodology: The total number of restaurant check-ins on Foursquare divided by the number of a given chain’s restaurants in the state.
The map is bad, is my point, and obviously bad, and I sincerely wish that we didn’t have to talk about it.
Because maps like this one aren’t merely birdbrained schlock: They are a social media plague, a scourge that can reduce just about any social network to gibbering in-fights in the space of a few virally shared minutes.
A dumb internet map with incendiary falsehoods is coming for all of us, and there is just about nothing we can do to stop it.
To create an interesting map-i.e., a map with enough variance between states that we can all get mad online-publishers have to manipulate the data in ways that are doctored to the point of statistical uselessness.
A lack of academic rigor doesn’t seem to stop many publishers from producing-and, especially reproducing-these maps.
Consider how the Business Insider map spread. When Business Insider pulled down its tweet with the viral map a few hours after posting it, it seemed like a minor moral victory for fast food truthers: Twitter users successfully shamed a publisher out of a bad, silly post! But Business Insider confirmed to The Ringer that the deletion had nothing to do with the nonsense data set.
Are we supposed to believe that in the last 14 months, Americans abandoned McDonald’s for Chick-fil-A in droves? Wouldn’t that lead to some kind of greater McDonald’s crisis of the sort that might make just a little bit of news? Were the two maps generated with Foursquare built using different methodologies, and if so, how could both of them have yielded “The most popular fast food chain in every state”? Does Business Insider know that it published the other map? If it did, would anyone there care?

The orginal article.

Summary of “The State Of Small Business Marketing”

Small businesses are adopting new marketing technologies.
Most small business owners already know the power of word of mouth marketing.
Few small business owners outsource their marketing.
54% of small businesses outsource graphic design and website design according to the 2017 WASP Barcode Technologies “State of Small Business Report.” But only 14% outsource their marketing, public relations, and advertising.
“This comes up again in other studies. In the InfusionSoft 2017″Small Business Marketing Trends Report, 70.8% of small businesses reported doing their marketing in-house.
Street Fight’s research on small business owners found that among business owners that either do their marketing themselves, delegate it to an internal team, or outsource it to an agency, the owners who do their marketing themselves are the least satisfied with their results.
So how bad is it? Well, 29% of small businesses still don’t have a website, according to Clutch’s third annual Small Business Survey.
It’s a good opportunity for them, too: Websites are regularly named as the most effective marketing channel for small to medium businesses.

The orginal article.

Summary of “The 6 Ways Business Leaders Talk About Sustainability”

The message for business leaders, as for social change agents: To change our frames is to change the way we perceive, prioritize and invest time, effort and money.
My colleagues and I see at least six main frames at work in the sustainable business space.
The focus of people using a resources frame to understand sustainability is often on waste reduction and technological innovation.
Time is fundamental to all sustainability frames, with capitalism seen as myopic at a moment when key challenges demand much longer time frames.
Challenges of this frame: Successful business leaders must evolve a much more expansive view of time, no easy task.
Turn the moral spotlight on other frames, and it is clear that the Moral Frame encompasses them all.
Challenges of this frame: At a time when some MBA courses still treat business ethics as a sort of sheep-dip treatment for students, an elective, be careful not to sound moralistic or missionary.
In summary, a key skill for all of us driving change is to recognize the frames shaping other people’s worldviews and priorities-and, equally important, to understand and evolve our own frames.

The orginal article.

Summary of “Warren Buffett reveals Macy’s, Sears, and JCPenney doom”

Retailers such as Macy’s, Sears, and JCPenney are closing stores as sales decline.
Warren Buffett’s book of essays has an explanation for the root of the problem: companies prioritizing short-term goals over long-term investments.
If Buffett’s theories are correct, it may be too late for retailers to turn business around.
Retailers like Macy’s and Sears are struggling to stay alive, as stores close and sales slump.
In “The Essays of Warren Buffett: Lessons for Corporate America,” the Berkshire Hathaway CEO lays out a problem that plagues many businesses: prioritizing short-term goals over long-term success.
In the early 2000s, as e-commerce competition was on the rise, many retailers failed to build up their e-commerce business, instead choosing to focus on the short-term and drive in-store sales – still the largest part of most traditional retailers’ business in 2017.
Retailers lack the funds to invest in store upkeep and remodeling, leaving locations looking like disaster sites.
Retailers like Macy’s, Sears, and JCPenney have been forced to close hundreds of locations as the companies struggle to survive.

The orginal article.

Summary of “The Majority of Small-Business Owners Rely on Word-of-Mouth Referrals. Here Are 3 Ways to Get Them.”

A whopping 85 percent of business owners said word-of-mouth referrals! Of course everyone loves and wants referrals, but how do you get them? Is it in your control as a business owner to increase the number of referrals you receive on a monthly basis or is it luck of the draw? When business owners ask me this question, I often think about the quote: I’m a great believer in luck.
This is a real opportunity for a number of business owners for two reasons.
Keep in mind your reviews don’t have to be perfect, as 94 percent of consumers would use a business with a four-star rating.
What if you took a picture with every satisfied customer you have and post it to your Facebook business page and tag them? That way, they would share it with their Facebook network every time.
Some of these ideas will sound crazy, but the important thing is people remember you so your business is top of mind and they can associate your business with more than just “I treat my customers well.”
The most important part of generating more referrals is deciding as a business owner that you’re going to spend time every week just focused on it.
Week 3: Think about one area of your everyday operations where you’re not being opportunistic to further get referrals.
You could have ways to be memorable each month, or it could be working to better perfect your existing “Memorable strategy.” The idea here really focuses on how you can get one person to tell others about your business, which can be done both online like on Facebook to their network, as well as offline.

The orginal article.

Summary of “A Short Guide to Strategy for Entrepreneurs”

For too many entrepreneurs, especially those steeped in tech and devoted to product, strategy often seems to be an afterthought.
Each of these has value and can be the source of useful ideas, but each represents only part of what strategy can offer.
The challenge of strategy is to develop an integrated view of the workings of your business and how it creates and captures value within its operating environment.
What’s more, my academic research on strategy in the contexts of multisided platforms, crowds, big data, machine learning, and IoT shows that it is only when timeless tenets are applied that entrepreneurs can sensibly plot strategy.
As a professor teaching strategy, most recently at Harvard Business School and Northeastern University, I have tried to offer the minimum essential explanation of an integrated view of strategy, to combine the best of the many frameworks that exist, show how they relate to one another, and distill the field to the essentials that entrepreneurs need to know to get started.
Entrepreneurs who design their business around these questions will have a leg up when it comes to crafting strategy.
The first step toward a successful strategy is to clarify how you plan to create value, and for whom.
As you design your business, whether from the ground up as an entrepreneur or by evolving a legacy operation, you’ll want to go deeper into the field of strategy, to expand your theory of how you create and capture value.

The orginal article.

Summary of “These Are The People Behind Million-Dollar Sales Of Companies That Sell On Amazon”

Today, 51% of Amazon sales are through third-party sellers – that is, companies that aren’t owned by Amazon.
The most valuable businesses that sell their wares on Amazon are anywhere between three and five years old, have established brands on the marketplace, manufacture their own exclusive products, and fulfill shipping and returns through Amazon, according to brokers in the business.
“We are getting a lot more Amazon FBA, because a lot of people who started these businesses are bearing enough fruits to sell,” Greg Elfrink, content manager for Empire Flippers, told BuzzFeed News.
Ace Chapman, who bought his first e-commerce business in 1999, told BuzzFeed News that he and several business partners went in on the $1.7 million athletics company deal because it had strong profit margins and sales traffic from both Amazon and its own website.
One wrinkle is Amazon’s vague approach to sales of the businesses that sell on its site.
As Amazon fulfillment becomes a more integral part of retail companies, it is more common that business owners notify the company about new ownership after a deal goes through.
Daoust, of Quiet Light Brokerage, warned of a “Gold rush” atmosphere surrounding the buying and selling of small businesses on Amazon, and added that the market’s reliance on Amazon can leave businesses vulnerable to the whims of the company and its policies.
Similar to real estate brokers, brokers who buy and sell companies that do business on Amazon collect a number of offers and present them to the owner to review.

The orginal article.

Summary of “The 40% Rule: The Simple Secret To Success”

There is no shortage of business books on the market, most of which claim to hold the secrets to success.
This rare trait goes by many names; grit, perseverance, dedication, ambition, but the name that I think best describes it is “The 40% rule.”
I grew up with the 40% rule, but I didn’t realize it until I read Jesse Itzler’s book “Living With A SEAL.”.
The 40% rule is simple: When your mind is telling you that you’re done, that you’re exhausted, that you cannot possibly go any further, you’re only actually 40% done.
The 40% rule reminds us that no matter how exhausted we might feel, it is always possible to draw on an untapped reserve of energy, motivation, and drive that we all possess.
If it’s too hard for everyone else…. Now, I’ve never lived with a SEAL, but my father is just about the closest civilian equivalent you’ll ever find.
The mere act of saying it reinforces the core principle of the 40% rule.
Growing up my entire worldview revolved around the fact that I should, and could, push myself harder than anyone.

The orginal article.

Summary of “The 40% Rule: The Simple Secret To Success”

There is no shortage of business books on the market, most of which claim to hold the secrets to success.
This rare trait goes by many names; grit, perseverance, dedication, ambition, but the name that I think best describes it is “The 40% rule.”
I grew up with the 40% rule, but I didn’t realize it until I read Jesse Itzler’s book “Living With A SEAL.”.
The 40% rule is simple: When your mind is telling you that you’re done, that you’re exhausted, that you cannot possibly go any further, you’re only actually 40% done.
The 40% rule reminds us that no matter how exhausted we might feel, it is always possible to draw on an untapped reserve of energy, motivation, and drive that we all possess.
If it’s too hard for everyone else…. Now, I’ve never lived with a SEAL, but my father is just about the closest civilian equivalent you’ll ever find.
The mere act of saying it reinforces the core principle of the 40% rule.
Growing up my entire worldview revolved around the fact that I should, and could, push myself harder than anyone.

The orginal article.