Facebook to Reopen Offices in July With Limited Capacity

The social network will require employees to submit to temperature checks and wear face masks. Free Book Preview No BS Guide to Direct Response Social Media Marketing The ultimate guide to – producing measurable, monetizable results with social media marketing. May 21, 2020 2 min read Opinions expressed by Entrepreneur contributors are their own. Facebook plans to reopen its doors in July, with a slew of new health measures in place. According to Bloomberg, the social network will initially limit offices to 25 percent occupancy, put workers on multiple shifts, and require temperature checks. Starting July 6, those employees allowed back inside must wear masks when not social distancing (or, depending on where you work, at all times), and will be seated six feet apart and face restrictions on internal gatherings. Facebook is also replacing buffets with grab-and-go meals and intends to keep office gyms closed. No outside visitors will be […]

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U.S. Weekly Jobless Claims Hit 2.4 Million, Bringing 9-week Total to Nearly 39 Million

May 21, 2020 5 min read This story originally appeared on Business Insider The number of Americans who have filed for unemployment insurance during the coronavirus pandemic has continued to grow. U.S. jobless claims totaled 2.4 million last week, the Labor Department said on Thursday. That matched the median economist estimate. The figure raised the nine-week total to nearly 39 million. That’s more than the roughly 37 million people who filed unemployment-insurance claims during the year and a half of the Great Recession. “The coronavirus crisis continues to inflict swift and deep impacts on the labor market at a near unprecedented clip,” said Daniel Zhao, an economist at Glassdoor. Still, unemployment filings last week fell from nearly three million in the previous week. The number of new filings has now declined for seven straight weeks. Related: The Future of Internships Is Mostly, But Not Entirely, Virtual In addition, there were 2.23 million initial claims […]

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We Lost $140k in Sales in Less Than 30 Days. Here’s What We’re Doing to Fix It.

May 18, 2020 12 min read Opinions expressed by Entrepreneur contributors are their own. The following article is written by Ben Angel. Author of the book, Unstoppable: A 90-Day Plan to Biohack Your Mind and Body for Success. Buy it now from Amazon | Barnes & Noble | iBooks | IndieBound. And be sure to order The Unstoppable Journal, the only journal of its kind based on neuroscience, psychology and biohacking to help you reach your goals. When I launched my new bestselling book, Unstoppable, I had minus $3,000 in my bank account in October 2018. A year later, we had built our new business to $1.2 million in online sales and sold more than 50,000 copies of my book. We were on track to do $1.7 million in sales this year when the pandemic hit. Our sales dropped by $140,000 within 30 days. The Facebook ad campaigns we’d been running stopped working. As a result, we had to reduce […]

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11 Entrepreneurs Who’ve Defied the Odds

May 15, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. Heading into 2020, I was enthralled to have been recognized as one of the world’s top five women fashion influencers and eagerly anticipated the launch of my BOLDTV series, featuring inaugural guest and New York Fashion Week creator Fern Mallis. Fast forward to May 2020, and like millions of others around the world, I’ve transitioned to conducting business online. That’s meant interviewing prominent subjects remotely rather than in BOLD’s NYC studios before readying the shows for online visibility. But there are so many entrepreneurs who have risen to the current challenge and found ways to keep their established brand or product in place, and in some cases soar even higher.  In no particular order of preference, here are 11 such individuals, each of whom has typified that determination to beat the odds in the face of an unimaginable obstacle. Ashton Henry, Founder/CEO, Ashton Henry Financial In a recent […]

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5 Tips for Recognizing a Meaningful Business Opportunity When You See One

May 11, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. According to the Small Business Association, roughly 50 percent of businesses survive to reach their fifth year. What is interesting, however, is that the SBA’s analysis found that these survival rates generally remain consistent regardless of the overall state of the economy. In other words, lasting success is largely dependent on choosing the right business opportunity. While understanding the basics of running a business is certainly important, your ability to recognize meaningful opportunities will play a major role in whether you author a lasting success story. Idenitfying these opportunities isn’t an exact science, but there are still telltale signs to look out for, beginning with the following five. 1. You’ve found a noteworthy market inefficiency Not surprisingly, the best ideas come when you find a meaningful problem to solve. As I’ve written previously, some of the easiest […]

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Only $120 Billion Left, Favorable Forgiveness Guidance from SBA and IRS Tax Pitfall

May 11, 2020 7 min read Opinions expressed by Entrepreneur contributors are their own. The SBA Paycheck Protection Program (PPP) is the most significant small-business relief effort in modern history. A key component of the $600 billion-plus (and counting) stimulus rollout is that beneficiaries can have their loans forgiven so long as they use the funds for qualifying expenses, which can include payroll, rent, mortgage interest and utility payments.  The program was extremely popular in round one, and the initial $350 billion in funding was claimed in only 13 days. The SBA began approving an additional $310 billion from the second round on April 27, but as of May 10, only $120 billion in funding remained. (A good chunk of which is owed to dozens of publicly traded companies having returned multi-million-dollar loans.) Related: Should I Return My Small-Business Loan? Only $120 Billion in Round-Two PPP Funding Left Here’s a quick table summary of PPP round-two data as of 5 p.m. EST on […]

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4 Reliable Tips for Quickly Moving Inventory Online

Fortunately, there are a number of ways for brick-and-mortar stores to simplify this difficult process. May 8, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Our current public-health crisis has resulted in a drastic shift in consumer spending habits, with stay-in-place orders drastically increasing demand for sanitary products and other household supplies, as well as entertainment options like board games and video games. And it should come as no surprise that the vast majority of these purchases are happening online. For brick-and-mortar stores, the loss of foot traffic can be devastating. After an initial spike in foot traffic when people were stocking up on supplies, even major retailers like Costco and Walmart are seeing a notable drop. That’s why a robust online presence is a must for any small retail businesses hoping to sustain revenue. The sooner you can move your inventory online, the better your chances of reducing […]

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4 Ways Solopreneurs Can Strengthen Their Businesses

May 7, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. Business is hurting across the globe. Supply chains have been disrupted. People are staying home. Many businesses that rely on traditional sources of revenue are not able to stay open. For solopreneurs, the pain can be even more acute. Recessions traditionally impact small businesses disproportionately, as we saw in 2008, when they accounted for 45 percent of employment but 62 percent of jobs lost. And it’s even worse for businesses with under 10 employees or young businesses period. Solopreneurs almost always fall into one of these categories and often both. And this current downturn seems to be following a similar trend, with nearly 80 percent of small businesses negatively impacted. Fifty-four percent have dealt with slower sales. No matter your sector, you’re probably going to be dealing with fallout, but there is hope, and there are ways that solopreneurs can still thrive. Cut your marketing […]

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Apple Gives $10 Million From Its Manufacturing Fund to a COVID-19 Testing Firm

The money will help Copan ramp up production on sample collection kits. May 7, 2020 2 min read This story originally appeared on Endgadget Apple has awarded $10 million to Copan Diagnostics, a company that manufactures COVID-19 sample collection kits. The funds will help Copan scale up its coronavirus sample-kit production capability from several thousand to over a million kits a week by early July. Apple is drawing on its Advanced Manufacturing Fund — normally reserved for close suppliers like Corning — showing the relative urgency it’s placing on the project. The funds will help Copan expand to a new and larger facility in Southern California, creating around 50 jobs. At the same time, Apple will help Copan source equipment and materials from “companies across the U.S.,” while designing new equipment itself in collaboration with two other companies. Copan is a “global player in the field of specimen collection and preservation for infectious-disease diagnostics,” Apple […]

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Company Builders Are the New Accelerator Programs

With this market uncertainty, entrepreneurs are better off planning for long-term growth than the quick-scaling approach. May 7, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. For startup entrepreneurs, participating in an accelerator program provides financial resources, an invaluable network and prestige, but the current public-health crisis has interrupted operations for many of them. For instance, Y Combinator’s next batch will be mentored remotely, and instead of investing in the entire batch, they will evaluate each startup individually to determine who receives funding. Meanwhile, 500 Startups is eliminating cohorts entirely and allowing rolling admissions, with two demo days and only one investment round per year. Other accelerators around the world are making adjustments to how they distribute funding in response to global economic uncertainty.  Entrepreneurs looking for guidance and funding for their ideas right now should consider other opportunities, and company builders provide an alternative for entrepreneurs in this […]

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The First-Ever Live, Virtual Reality Comedy Special Could Only Happen Now

April 30, 2020 7 min read The first thing you notice after strapping on a CEEK Virtual Reality headset is that the seats in its simulated theater are empty, which is an eerie approximation of the atmosphere in shuttered concert venues and movie houses around the world. A product that was designed to simulate a commonplace, but often inaccessible, consumer experience — like attending a Lady Gaga concert at Madison Square Garden or witnessing U2 wow thousands at Rose Bowl Stadium, both CEEK offerings — has suddenly become its closest real-world designate. This was not what the company’s founder and CEO, Mary Spio, had in mind when she launched CEEK in 2015. The venture was an entrepreneurial step in her career, which began with training as an Air Force engineer and evolved into groundbreaking work as a satellite-communications designer for NASA and Boeing. (The tech she helped pioneer for the latter was […]

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5 Ways Brands Can Reinvent Their Digital Marketing Strategy

May 6, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. We are all doing our best to cope under the current circumstances, and I believe that within adversity lies an opportunity to change, evolve and adapt.  Whether you’re an individual, entrepreneur or brand, the need of the hour is to reassess, rethink and reinvent your approach. While influencers, billionaires and corporations are joining hands to aid those in need, brands need to sustain business activities and simultaneously make a positive contribution to those around them.  I recently spoke with brand strategist Alex McCurry, founder of Astra Media, which is helping businesses, brands and entrepreneurs reinvent their digital marketing strategy. Our conversation inspied me to share the following five ways in which brands can rethink their online strategy and make relevant offerings as we all turn our focus toward recovery. Go Digital  With people spending much more time on social media platforms than ever before, […]

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Fight for Your Franchise Challenge, Week 5: Implementing the Franchise Equation

When a business is running at its peak in all areas, efficiency and profitability increase exponentially. May 4, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Now that we are in the strategy-implementation phase of the Fight for Your Franchise Challenge, we are focusing on real-world leadership-skill development. You can utilize this information for yourself, your executive team and your team leaders.  I am going to start this lesson by setting the bar for what we are ultimately trying to achieve as business owners. As a franchise executive coach, I introduce my clients to what I call the “Zenith Franchise” level as a goal. Zenith means the highest and most powerful state. When a business is running at its peak in all areas, the company’s efficiencies and profitability increase exponentially.  Related: Fight for Your Franchise Challenge: Week 4 The objective is to raise all five departments of your business to the […]

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The 3 Most Valuable Things Entrepreneurs Can Be Doing for Their Team Right Now

No matter how your business has been impacted, your team needs its leader more than ever. May 4, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. You may be worried about your business, but you aren’t the only one stressed out. Right now, your team members are worried about their careers, their families and their futures. No matter how much the current public health- and econimic-crisis has impacted you, your team needs its leader now more than ever. Even if you’ve avoided eliminating positions in your business thus far, people are worried. Unemployment numbers have already hit record highs, and Gallup reports that a quarter of American employees fear they’ll lose their jobs. Workers and companies fortunate enough to stay open during quarantine orders still face unique challenges. Employees who have never worked from home now spend every hour indoors. People who loved to flaunt their extroverted selves […]

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5 Steps to Help Your Business Emerge Stronger From the Health Crisis

May 4, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. The global health crisis has caused immense disruption to the global economy, and many companies around the world have been severely affected. Even so, some businesses have shown inspiring innovation in these challenging times. Over the past few weeks, American automaker Ford innovated and produced 2.4 million protective face shields for medical personnel, assembling the raw materials, manufacturing capabilities and people over one weekend. British tech company Dyson pivoted to create a ventilator product in 10 days, while French fashion and luxury retailer Louis Vuitton announced recently that it will convert its perfume production lines to start making hand sanitizer. How can business owners learn from the quick thinking of these companies and emerge stronger? Here are five suggestions. 1. Talk to your customers and listen to them. Whether you are a restaurant owner or an online ecommerce business, pick […]

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Unlocking Your iPhone While Wearing a Mask Will Get Easier With Upcoming iOS Update

The change, spotted in the 13.5 beta release, will help users avoid unnecessary hassle. April 30, 2020 2 min read This story originally appeared on PCMag The pandemic is prompting Apple to make a change to the company’s Face ID technology: If the system detects you wearing a mask, your iPhone will ask for your passcode rather than needlessly scan your face a few more times.  The tweak, spotted in the iOS 13.5 beta 3 release, will help users avoid unnecessary hassle when unlocking an iPhone while wearing a mask.  Currently, the Face ID technology will stop and stutter when it can’t fully see your face, which can produce an annoying delay. The system will then give up and ask you for the six-digit passcode. However, on Wednesday, app developers began noticing a change in the iOS 13.5 beta release that promises to fix the problem. If the system detects you wearing a […]

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3 Ways to Give Back That Don’t Require a Financial Investment

April 29, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. The desire to help one another is a deeply human need, and now more than ever that help is sorely needed. Even so, many people directly impacted by the current public-health/economic crisis are not in a position to give financially. The need may be great, but everyone must also take care of their own families. With tens of millions unemployed and layoffs continuing at a record rate, no one truly knows what the future may hold. The good news is that not all help needs to be financial, and there are plenty of ways to give back without opening your checkbook or pulling out your credit card. Here are three ways to give of yourself even when finances are tight. 1. Give your time With unemployment at record levels and millions sheltering in place, time has become an […]

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Makers of Tomorrow: CareerBuilder CEO Irina Novoselsky

The employment expert and chief executive shares how her company is supporting those in need and preparing for the industry’s future. April 29, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. As unemployment surges, millions are scrambling to adapt and figure out who is is hiring, while also trying to navigate what it means to work in predominately remote environments — uncharted territory for many Americans.  One of the organizations on the front lines of this battle is CareerBuilder, the quarter-century-old talent-acquisition giant. We recently caught up with CEO Irina Novoselsky about what her team is doing to help the sudden rush of job seekers in need, how her industry is evolving and the importance of maintaining an eye on inclusivity.  Related: Makers of Tomorrow: Vizio CEO William Wang How has CareerBuilder championed businesses and job seekers during this period of historic unemployment?  We sit at the epicenter of the labor […]

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Which Public Companies Have Returned Their SBA PPP Loans?

A slew of multi-million-dollar businesses have been granted government recovery funds, to much controversy. Here are the ones who’ve given the money back. April 27, 2020 3 min read You can borrow, but you can’t hide. That’s what many multi-million-dollar, publicly shared companies are discovering during this nationwide economic freefall. Shake Shack was the first such international enterprise to offer a mea culpa after benefitting from Congress and the SBA’s Paycheck Protection Program, ultimately returning the $10 million it nabbed from an initial $349 billion government kitty for widely forgivable small-business loans. (Allocation of an additional $310 billion approved in the House of Representatives last Thursday is underway as we speak.) But plenty of other dining and hospitality chains, among other relatively solvent and resourceful businesses, have been called out for leveraging their sophisticated legal apparatus and relationships with large banks to outmuscle truly mom-and-pop outfits in the scramble for survival funds.  Related: Where’s […]

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Yes, There Can Still Be Positive Workplace Disruption

April 27, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Everything in our lives has fundamentally changed in 2020. We can’t just run to the store for a forgotten item. We can’t visit our families, our parents or our children and grandchildren. No more dropping in on friends for fun. For those of us who have loved ones who are first responders or in positions considered essential, we worry every day for their safety and for the safety of those in our homes. And the experience of work has been completely disrupted, even for people used to working remotely. School-aged children are often sharing office space with parents. The sandwich generation is now navigating working from home while keeping the peace with three generations living together. Instead of in-person meetings, web conferencing has become the norm. According to the World Health Organization, our physical and financial health […]

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