Why Micromanaging Backfires Every Time and What to Do Instead – ShoeMoney

I once had a typing teacher in high school who thought I sucked at typing. She would stand over my shoulder and watch me type. Naturally, I’d mess up, start to look at my fingers while I typed, and feel the hairs on the back of my neck stand on end. She’d say something about not looking at my fingers and I’d mess up even more. When she moved to another student, my typing improved. I no longer had to look at my fingers. This teacher thought she was doing me a favor by watching and making corrections. She probably wouldn’t have called it micromanaging, but that’s exactly what she was doing to her students. If I had been typing something consequential, I’d have spent entirely too long on my work. This is what happens in too many workplaces. Bosses who need to control every aspect of their company micromanage […]

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5 Tips to Successfully Sell Your Company

Seasoned entrepreneur shares everything you need to know about selling a business. September 3, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. I started a digital agency over 15 years ago — and selling it was not anywhere near the forefront of my brain. In fact, I was bringing in very little revenue which made the prospect of selling my company down the road even more unlikely. However, over a decade later, my agency suddenly had over 250 employees in multiple offices around the world. We raked in millions in revenue each month. And not only was selling my company a real reality, but brokers and larger enterprise companies were seeking me out to inquire how they could purchase it autonomously, without any legwork from me. To fast forward through the boring parts of this story, I did eventually sell my digital agency to a global company. […]

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Choose the Best Small Business Loan for your Needs

Specific loans can help you start or improve your small business. August 19, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Starting a business is expensive. Upgrading equipment, expanding to new locations and adding employees is also pricey. No matter where you are in the business life cycle, from startup to growth, a business loan can help get you started or address specific needs along the way. A 2019 Small Business Credit Survey by Federal Reserve Banks found that 43% of small business seek external funds and 70% of small employers firms carry outstanding debt. According to this survey, 56% of respondents applied for loans to expand their businesses, pursue new opportunities, or acquire business assets and 44% needed the funding to meet operating expenses. Most small businesses apply to online banks or large lending institutions for these funds, though some use credit unions and other […]

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4 Painful Realities Your Scaling Startup Must Accept in Order to Grow

70 percent of startups scaled too quickly in some aspect of their business. August 9, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. While growing a startup can be an exciting endeavor, it doesn’t come easy. According to data from Statistic Brain Research Institute, over 50 percent of all companies in the United States fail within five years of when they first open for business. After 10 years, that number climbs to 70 percent. How you scale can have an even greater impact than you’d expect… The Startup Genome Report’s coverage of premature scaling found that 70 percent of startups scaled too soon in some aspect of their business, directly contributing to their eventual failure. So what separates the successes from the failures? Part of the process requires that founders accept some of the painful realities of scaling a business: 1. Hire slow and fire fast The […]

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5 Badass Women Who Persevered and Built a Business

The entrepreneurial world has been a boys club for a long time. Recently that trend has been changing. The number of woman-owned businesses increased by 45% from 2007 to 2016. They represent over $1.6 trillion dollars in revenue. Are you looking to start your own business? These women will inspire you to push forward and kick ass. Let’s get inspired. 1. Riawna Capri and Nikki Lee In So Cal, high end salons are plentiful. Competition is fierce. But that didn’t stop Riawna and Nikki in 2010. As coworkers and friends at two other salons, they wanted to take their impressive skills and start off on their own. But this meant being competitive in an already saturated market. They took stock of what other high-end salons were doing and decided to be different. “…it felt like people were more about the shoes we were wearing or the bags we were carrying. […]

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15 Local SEO Tips That Are Bound to Change Your Game

Did you know that 71% of people who use the internet look and confirm the location of a business before heading to it for the first time? Think of the last time you did? You might have been looking for the time a business opens or closes. Local search is now as integral to our lives as toilet paper. We probably wouldn’t be able to navigate our world without it now. So, if your local SEO game isn’t on, you probably want to pay attention to these relevant tips. 1. Start Outside the Internet It’s weird, but when local journalists cover your business, you get a linkback on their online journal. Funny how that works, right? But connecting to local news sources is one incredible way to show Google you’re a local star. 2. Get Scheming With Schema Markup If you’re not using schema.org, you’re not telling Google enough information […]

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The No-Collar Workforce: What’s Next for Man and Machine?

“In a properly automated and educated world, then, machines may prove to be the true humanizing influence. It may be that machines will do the work that makes life possible and that human beings will do all the other things that make life pleasant and worthwhile ”  -Issac Asimov I’m obsessed with the idea of AI world domination. And not because I’m afraid our machines will decide to subjugate us, but because our machines will free up so much of our time. But this all depends on how we decide to proceed. I am an optimist even though I often write fiction that features machines gone rogue. My stories are about the consequences should we decide to treat AI and sentient machines as objects. I think it was Heinlein who proposed that a sentient machine would go mad if we simply put it in a box and gave it no […]

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How to Automate the Hell Out of Your Business

The point of building a business is to eventually fire yourself. Yes. Your job as an entrepreneur is to be so successful that you eventually train your replacement. This could mean selling your website or it could mean scaling to the point where you only make decisions and do none of the work. But until then, you should constantly be looking for ways to lessen the burden on yourself and your employees if you have them. “The market rewards business leaders for making things more efficient.” So, why not seek that reward by automating as much as possible in your business? In the next few paragraphs, I’ll outline some awesome ways you can automate various aspects of your business. 1. Automate Your Marketing A 1500 word blog post takes the average marketer 3 hours to complete. That includes research, editing, images, promotion, and SEO. Add on top of that PPE, marketing […]

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It Might Be Cliche, But You Can Turn Your Passion Into a Business

You’re sitting your cubicle staring at a blinking cursor. It dances there mocking you. You’re supposed to be typing up that yearly report for the boss. But you’d rather be out in the mountains or on a lake somewhere fishing. Someone comes and taps on your shoulder. It’s the FedEx guy with a large envelope. You rip it open and out slides a flip phone. You open the phone and it rings. You answer, “Hello?” “What if I told you that you don’t have to sit in a cubicle forever.” “Yeah, well, I’m heading home here in an hour…” “What if I told you that you could turn your passion into a business? That it might take a lot of work, but you could be on the river fishing and making money at the same time.” Would you believe the man on the phone? Or would be like Neo and […]

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Cities Where Millennial Entrepreneurs Are Likely to Thrive

Being originally from farm-town USA, I understand the woes of being a connection-less entrepreneur. People don’t understand your mindset. They don’t get why you don’t want to marry your high school sweetheart and take over the family business. Why would you ever leave these fields of dreams? Don’t you want to be buried here? While I went through a Country phase in high school, tractors and cow shit aren’t really my thing. I prefer mountain trails and artsy cafes. Which is why I’m a freelance writer and not a farmer. This is why the Northwest United States is now my home. I get the beauty of the Cascades and the opportunities to network all in one place. If you’re looking for a city where opportunities abound, I’ve got the goods. It may not be my city (although two PNW cities are on this list), but I guarantee that any one of […]

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Screw the Naysayers. Learn From Beryl Stafford and Her Vegan Snack Success

Sometimes, having the world against you is a good thing. You realize whatever you’re trying to accomplish is bigger than what most people believe is possible. And if you were to accomplish it, the world would bow down in adoration. You wouldn’t think the world would be against a new kind of vegan cereal bar. But only 6% of U.S. consumers claim to be vegan. And most people don’t understand vegetarianism let alone veganism. (You’re vegetarian? Ok, I’ll fix chicken!) When Beryl Stafford began baking oat bars and wrapping them in Saran wrap, she wasn’t exactly gunning to change the world’s mind about vegan snacks. Instead, she was hoping to avoid a boring 9-5 and the whole panty-hose and uncomfortable pants-suit culture. Here’s how she fought through the naysayers and came out on top. Hint: she never gave into the pants-suit culture. 1. Stafford Started Small and Local Whenever you […]

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Is Drop Shipping Really a Good Idea?

Weebly founder David Rusenko isn’t a fan of drop shipping. He believes we’ve flooded the world with enough cheap crap. We don’t need any more middlemen flooding out Instagram feeds with knock-offs. But is he right? What’s wrong with middlemen doing the marketing legwork? I’ve been around the web a time or two and have seen drop shipping touted as the next affiliate marketing. But I’ve encountered few who’ve made it work. Here’s why you should be careful with one of the hottest trends in e-commerce right now. 1. What is Drop Shipping? I use the word middleman literally. If you sell or make lanyards but don’t really care to market your lanyards, a drop shipper is a great way to get your product out there. A drop shipper essentially sets up shop and sells your product as if it’s theirs. Often, a drop shipper works directly through a wholesaler […]

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How to Deal With Entrepreneurial Debt

According to everyone around you, debt is normal. The average American household owns $139.5 thousand in debt. School and housing loans make up a large chunk of that number for each person. Even if you’re not among the highly indebted, as an entrepreneur, you’re told to spend. Even if you don’t have the money, you’re supposed to miraculously attract customers with outbound marketing, SEO services, and expensive video production equipment. At every turn is the temptation to go into even more debt. While some debt might be unavoidable, there are ways to handle your debts in such a way as not to drown. 1. Destroy Any Other Previous Debt If you’re already drowning in debt, it may not be the time to invest money in a business. If you’re hoping for a business loan, you need to have good credit. Most people are only in the “fair” range (on average, […]

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Five Myths About Passive Income You probably Still Believe

Time is the great equalizer. In the grand scheme of things, you don’t get much more of it than I do. On average, we only live 80 years. No wonder many of us are scrambling to free up more time. We realize that if we want to accomplish our life goals, we need to spend less time making a living. Passive income seems like a great solution. While passive income is achievable, it’s not as easy as other bloggers make it out to be. Myths perpetrate through lazy blogging. Some of us have swallowed these myths with gusto. Here are five you should probably quit believing. 1. You Need a Bunch of Money to Make Passive Income Brian Clark turned Coppyblogger into a $7 million company with a mere $1,000. Now that might seem like a decent sum to a few of you out there but think of the ROI on […]

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