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Profit Coaching Roundup : How Leaders Can Shape Up in 2015

BY Ann Whittaker In Profitability On Jan 02, 2015 With 0 Comments

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As part of our profit coaching efforts, we try to go beyond number crunching and help clients really grow their business. We weed through a lot of crap on the Internet, but we save the good stuff to share with you. Here's the 6 most insightful and inspiring bits we found on the world wide web this week:

Tips for Entrepreneurs in 2015

01. "4 Reasons Millennials Should Start Their Own Business"

Lais Pontes gives Millennials 4 solid reasons why they should start their own business in a recent Entrepreneur.com article:

  1. Milliennials aren't afraid to take (calculated) risks.
  2. Millennials not only think outside the box, but we often prefer to build a new one altogether.
  3. Millennials are social media savvy.
  4. Milliennials want to make a difference.

She points to research that shows that in 2011, millennials launched 160,000 startups each month. Why so many? Pontes suggests that

While past generations may have relied on the government for social security or a pension plan from a life-long employer, millennials have experienced an economic landscape where taking the risk to bet on themselves is actually a very viable option.

02. "Entrepreneurs Live in the Future"

Inc.com's Thomas Koulopoulos shares his entrepreneurial success story, and how he and his partner built a company by dreaming big while being small. His advice:

We did everything we could do to create a footprint much larger than our shoe size. In large part just to convince ourselves that we were more than what we were at the time. We behaved and acted the way a company many times our size would need to act in order to be ready when the future arrived.

Tips for Leaders in 2015

01. "Questions to Ask Before Starting a Business in 2015"

Mashable provides a helpful list of questions to ask before you think about starting a business. Read the full article to get a full description of what you should be asking yourself.

  1. What's your motivation?

  2. How developed is your business savvy?

  3. How thick is your skin?

  4. Do things need to be perfect?

  5. Are you willing to get your hands dirty?

  6. What's your financial situation?

02. "For Leaders, Looking Healthy Matters More Than Looking Smart"

David Burkus writes in a recent Harvard Business Review article that

While we tend to separate out career goals from health/lifestyle goals in our minds, in reality there is a lot of overlap. If you’re looking to set some career goals, then you might think about getting healthier too. New evidence suggests that healthy-looking individuals are perceived as better leaders, even over intelligent-looking people.

Turns out all of your new year's resolutions might have more in common than you think.

Tips for the Budget-Conscious in 2015

01. "How to Get Customers to Pay More"

Yes, please. Elizabeth MacBride has some great advice about how to sell a high-quality product for a higher price. Start by asking yourself a couple questions:

  1. How do you quickly indicate to customers that your product is different — of higher quality — so that they are willing to pay more for it?

  2. How do you solve the distribution challenge?

Read the full article here to really understand how you can charge more and get willing customers.

02. "SBA Reveals Top Small Business Lenders"

Depending on what kind of loan and how much you need to borrow, there's a top 5 list for your small business. Elaine Pofedlt provides a summary of the SBA's recent report.  If you're looking for a loan under $100,000, here's a list of your top 5 lenders:

  1. American Express Co.

  2. GE Capital Retail Bank

  3. Capital One Fiancial Corp.

  4. JPMorgan Chase & Co.

  5. Wintrust Financial Corp.

If you don't like the looks of these lenders, we suggest you check out more options at Lendio.

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