The September Intellectual Capital Connection features Tom Jaeb, President of Heartland Investigative Group, discussing the importance of Conducting due diligence background checks on potential business partners, acquisition targets, vendors and other relevant counterparties. Also in this edition, "Make Sure You're Insured For Growth" and Your Business Credit Rating, What You Don't Know Can Hurt You!"
Intellectual Capital Connection
Combating Digital Fraud
American Banker - In association with Deloitte RSA (09/16/14)
Digital fraud can cover both fraud carried out by customers as well as against them. Examples include Credit Card fraud that generates chargebacks, online bank attacks, attacks on point-of-sale (POS) systems, man-in-the-middle attacks on web and mobile payments, and complex frauds against e-commerce systems. Combating digital fraud has become a business issue and presents risk for any organization with online operations.
5 Family Business Lessons Learned
Small Business Trends - Tim Berry (9/4/14)
So it’s not surprising that many business people crave the support and camaraderie that comes from making their calling into a family business. And what family business lessons have I learned? What can I share here that might help you? Let’s take a look.
October 2015: Say Goodbye to Credit Card Swipes and Signatures, Hello to PINs
Small Business Trends - Joshua Sophy (02/11/14)
Starting October 2015, MasterCard and Visa will usher in a major change in the U.S. credit card industry. Credit cards will have microchips in them. Consumers will use PIN numbers instead of signing credit card receipts. And consumers will insert the credit card into or wave it near the card reader, instead of swiping a magnetic strip.
And watch for additional information regarding this change to come from Fidelity Bank.
How to Persuade The Most Stubborn Buyers to Change Their Minds
Build - Ilan Mochari (08/04/14)
Tom Smith, with the help of the orange paint known as Pantone 151 C and some next-level sales skills, is challenging the traditional structure of hockey--one rink at a time.
Study: By 2020, 78 percent of Small Businesses will Use Cloud
Small Business Trends - Joshua Sophy (08/10/14)
By the end of this decade, most small businesses in the U.S. will have adopted cloud technology.
Build a Purposeful Business Plan with These 10 Pointers
The EarlyShareholder Blog - Madelyn Young (03/19/2014)
Creating a business plan is an important step for any young business. Since drafting a plan requires putting the goals, growth plans, and marketing strategies of the business down on paper, it forces the business owner to think through many of the elements that can make the business more investor-ready.
How Peer Advisory Groups Inspire Leaders to Be Accountable
Entrepreneur.com - Beth Miller, Contributor (07/11/14)
Peer advisory groups, such as those operated by the Entreprenuer organization or Vistage, create an environment where individuals can find and give support, solve problems and achieve their goals among like-minded people who face similar challenges.
5 Lessons Entrepreneurs Can Learn From the World Cup
Entrepreneur.com - Dan Newman, Contributor, President of Broadsuite (07/09/14)
Much like the teams, the games and the fans, there are lessons learned that can be applied to the life of an entrepreneur.
Why Claims “Brainstorming Doesn’t Work” Are So Silly
LinkedIn/Big Ideas and Innovations - Bob Sutton, Stanford Professor and Co-author of SCALING UP EXCELLENCE (07/08/14)
Don't Underestimate the Casual Meeting
Entrepreneur.com - Adam Callinan (07/03/14)
There are an abundance of opportunities to garner help, connections and support from many of the people around you or that you have the chance to casually meet. You just need to open your eyes and learn to step outside your comfort zone to take advantage of these opportunities.
How to Take a Vacation From Your Small Business
Bloomberg Business Week - Karen E. Klein (06/26/14)
Here’s a sign the economy’s on a good track: More small business owners plan to take a full week off this summer than in any year since the recession began.
3 Tips For Getting A Sale Unstuck
Inc.com - Craig Wortmann (05/22/14)
You’ve sent 10 emails, left four voicemails, camped out in your potential customer’s reception area, and still you can’t get any love. It sure seemed like you were making progress. But now everything has gone dark. Is the sale alive? Is it dead? Has the prospect moved on?
What is happening?
13 Best Practices for Building Solid Small Business Operations
Small Business Trends - The Young Entrepreneur Council (06/16/14)
Running and scaling a business will always be challenging. But having a solid foundation of smoothly operating practices underlying your company can make it much easier.
5 Essential Tips for Growing Your Business
Small Business Trends - Larry Kim (06/11/14)
To say that getting a business off the ground is hard work would be an understatement. Whether you’re still drafting your first business plan or recently opened your store, starting and running a business can be an exhilarating – and terrifying – experience.
85% of Small Businesses Get Customers Through Word of Mouth
Small Business Trends - Anita Campbell (06/04/14)
Verizon, in conjunction with Small Business Trends, conducted a survey of Philadelphia small business owners in May of 2014. One of the questions was: How do your customers find out about your business?
The answer was telling – and not because it was a surprise. It was telling because it is almost exactly in alignment with a survey we conducted online here at Small Business Trends almost a decade ago.
10 Tips for Building Stronger Networks in Work and Life
Inc.com - Deborah Peterson (05/27/14)
Most people understand that to be successful they need to network. But actually going out and doing it is another matter.
How to find a banker who adds value to your business
Twin Cities Business Journal - Andy Birol (May 20, 2014)
Andy Birol, contributing writer at the Business Journal, gives an interesting perspective on the relationship between bankers and business owners.
A jolt of needed confidence for Minnesota manufacturers
The Star Tribune - Editorial Board (05/19/14)
Recent rains and the forecast calling for warmer weather are hopeful signs for Minnesota agribusiness. Meanwhile, there’s another essential sector of the state’s economy showing springtime optimism — manufacturing.
Lose Your Biggest Customer? Here Are 9 Steps to Recovery
Inc.com - Brent Gleeson (05/14/14)
No business has a perfect record when it comes to retention. Even your best customers will eventually move on at some point, and not necessarily because of a lack of performance on your end. When you come to terms with this reality, you'll be better prepared for when it happens.