Posts tagged Business Advice

Lynn Tilton, the founder and CEO of Patriarch Partners, has had ownership in and restructured more than 240 companies with combined revenues of $100 billion. From Stila Cosmetics to Rand McNally, her company’s investments span 14 industries. Tilton is all about saving American jobs. She talks about great products and working from the customer backward in this Learning from the Pros.

Should You Ever Do Business With a Good Friend?

Many people warn against hiring or partnering with friends, but it’s not always a bad thing. You just have to know what you’re getting yourself into, writes OPEN Forum contributor Dorie Clark:

…You may assume you know all about your friend based on your experiences with them. But it’s likely you’ve only seen a slice—probably the most fun side—of their personality. They may be entirely different under high-pressure situations… 

Be on the lookout for warning signs: If you’ve seen them discuss clients or employees in a problematic way (such as a pattern of blaming other people, or making choices you disagree with), be wary.

Read on for five more tips on whether or not you should work with your friends.

In this week’s Top Two Tips, Larry Cheng, managing partner at Volition Capital, and The Story Exchange’s Director of Digital Media Colleen DeBaise, join us. They share what magic number you should remember when you tweet and why not all customers are created equal.

What You Need to Know to Deliver a Great Speech

1. Deliver a performance, rather than a speech. Think beyond the words you’ll be saying to use performance tools such as inflection, gesture, tension, resolution and suspense.

2. Use the power of eye contact. ”Bill Clinton was a master of eye contact—watch any of his speeches, and you’ll see the master at work,” writes OPEN Forum contributor Mike Michalowicz.

3. Don’t hide behind the lectern. It’s a crutch, Michalowicz says. Moving around will keep your audience engaged, and will make you appear more accessible and open.

Read on for four more tips for effective public speaking.

Why Reading Fiction Is Better for Your Business

Reading fiction can be as valuable to your business as reading a business book. It can:

1. Inspire more creative thinking by introducing you to new ideas,

2. Boost your intellectual curiosity and

3. Help you refocus your priorities.

Read on for a few great pieces of fiction to add to your reading list.

This infographic will teach you how to avoid cash-flow woes.

One Big Reason Why Introverts Make Excellent Employees

Recent studies, articles and books have done away with the age-old myth that introverts were shy and ineffective in social situations. Introverts are actually a great addition to any team because they’re typically great listeners, writes introvert and OPEN Forum contributor Erika Napoletano.

While extroverts might be hopping from conversation to conversation, we’re much more interested in digging into single concepts and details. We’ll hear you out (as you go on and on and on) and are incredibly adept at summing up a whole pile of thoughts and feelings into concise summaries.

Read two more reasons why introverts are excellent employees on OPEN Forum

5 Pieces of Advice Every Young Entrepreneur Should Know

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  1. Decide who you are.
  2. Have a plan.
  3. Have a backup plan.
  4. Be realistic.
  5. Create balance.

For more, read small-business expert and entrepreneur Brian Moran’s “5 Things I Wish I Had Learned as a Young Entrepreneur,” on OPEN Forum.

Flickr user: Vernon Chan

Back-to-School Pop Quiz!

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Question 1. How much money is the back-to-school shopping market worth?

a. $2.4 billion
b. $10.5 billion
c. $72.5 billion
d. $112.3 billion

If you answered c, you’re correct! Your small business should cash in on this profitable season to heat up your summer sales.

Read more on back-to-school shopping season on OPEN Forum.