2009 Will Be an Economic Engine for Change
Interesting article from HBR Online, predicting the coming year will be “an economic engine for change.”
Author Jeff Stibel offers some historical examples supporting his point that economic upheavals create the greatest opportunities. I rather like his analogy with forest fires as a necessary part of nature’s life-cycle, this may “clear some underbrush” that isn’t contributing but is using resources.
Economic contraction creates market dislocation, i.e., recession upsets the status quo in a free market system. And ergo, opportunities. As I alluded to in an earlier post, the TRICK of all this is of course figuring out the right thing, the right way, at the right time. Bon chance to us all!
written by Nancy Chorpenning
\\ tags: Business Development, recession
Angel Investing Down
Check out this article in Inc.com. Maybe not a huge surprise but economic uncertainty is impacting the private equity world. But there are some recession-resistent markets for startups that may disprove the rule: green technologies, renewable energy, and health care, to name but a few.
written by Nancy Chorpenning
\\ tags: Angel Investor, equity, Investors
Effective Communication for Managing Virtual Office Employees – Entrepreneur.com
If you are thinking about letting some of your team work from home, or adding some staff that will work remotely, this article in Entrepreneur.com may shed some light on your decision.
The author, David Javitch, presents a nice overview that rings true to me. I managed a team of 19 in NYC from Atlanta for over 3 years and learned many of these lessons the hard way!
Some questions to ask yourself might include:
- How are you with technology? (You don’t have to be a chip-head, but it will make a difference if you’re comfortable with instant messaging, web conferencing programs, Continue reading »
written by Nancy Chorpenning
\\ tags: managing virtually, virtual employee, virtual office
Eight Insurance Coverage Areas to Review Annually
A once-a-year checkup can save you big bucks in the year ahead!
Year end is always busy, but it’s also the perfect time to review your insurance coverage as you look ahead to the beginning of a new year. Even if you don’t do it all at once, you need to review each of these areas at some point during the year. Your insurance agent should be able to advise what is appropriate for your business (or steer you towards other agents who handle them!), and there may even be other insurance types depending upon your industry (e.g., Errors & Omissions for professional services).
Here are some areas you might want to check out: Continue reading »
written by Nancy Chorpenning
\\ tags: Insurance
Don’t Skimp On Ad Budgets – Forbes.com:
So you read or heard the news the other day (and I use the term “news” loosely) – the US is in a recession and has been since December of ‘07. I’m so glad there’s a group of academics poised to tell us such things!
More helpful is the advice from Knowledge@Wharton via Forbes.com: Now is not the time to slash your ad budget! This harkens back to what I’ve preached for some time (see my Oct 15 post) but it is very hard for most small business owners to buy into. It takes particular intestinal fortitude this season, but this is precisely when it has the potential to pay off the Continue reading »
written by Nancy Chorpenning
\\ tags: Advertising, long-term planning, Planning
