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Weekly Business News Roundup

News Roundup for SME Businesses & Startups

5 Essential Steps to Prepare Your Company’s Finances for the Holidays

With the holidays just around the corner, it’s time to square your business finances so you’re set up for success. Here the author discusses five tips to help you prepare your business finances for the holidays, from running key accounting reports and analyzing your sales to ensuring you have a strong cash flow and streamlining your invoicing process.

3 things modern managers can learn from decades’ old studies of human behavior

And what is old is new again: studies from more than a half-century ago hold classic management lessons for business leaders. The author provides an in-depth discussion of three evergreen studies of human behavior, and what managers can learn from them: “conformity is powerful”; “diffusion of responsibility”; and “you don’t change people’s minds.”

How to Keep a Good BBB Rating (and Why It Matters)

As the Better Business Bureau (BBB) is the go-to resource for verifying the credibility of a business, it’s important to not only establish but maintain your BBB rating. Here the author discusses the five most important factors that the BBB uses to create your numeric score, from customer complaint volume to time in business, as well as the issues that can deduct points from your score.

Neuroscientists Just Explained How Coffee Makes Your Brain Healthier. The Reason Why Really Surprised Them

Coffee addicts, rejoice! Neuroscientists have found a correlation between increased coffee consumption and better brain health – including a decreased risk of the age-related brain diseases Alzheimer’s and Parkinson’s. However, caffeine isn’t the agent responsible, but the “phenylindanes” created during the roasting process. Here the author discusses the study, as well as why you should drink more coffee and less soda.

Drowning in Data: 4 Tips for Managing Metrics without Going Under

The author begins: “The problem with too much information is that you think you’re swimming when you’re drowning.” While obtaining useful data in a timely fashion was once one of its biggest challenges, now the issue for management teams has become selecting the right data to review from the start and presenting it in a way that informs decisions.

He then offers four tips to help you manage metrics to provide useful insights: standardize your views (“masking fuzzy goals with fancy plots makes good PowerPoints but bad business”); display forward as well as backward (“while there’s nothing wrong with looking back, rare is the manager who’s tasked today with producing a result yesterday”); then, display forward again (“data shouldn’t only indicate what the team already thought was going to happen – it should also show how its view of the future has changed”); and finally, stick to your views (“once your management team has arrived at the key graphs…stick with them as a basis for updates, discussions and decision-making”).

Why these CEOs think transparency is crucial for workplace success

Tech leaders from Box, Front, and Buffer discuss why they believe transparency is crucial for businesses: it’s not only good practice for workplace culture, it is vital to their financial success. How? They share three reasons: making your goals (and progress) transparent leads to better decisions and less resentment; transparency allows you to execute with speed; and lastly, being transparent is an effective way to prevent disengagement. The CEOs also discuss situations when it is better not to be transparent.

60 Stats & Trends That Will Define The Future of E-Commerce

As any company with an online “store” knows, e-commerce is evolving rapidly with the continuous influx of new technologies and innovations designed to improve user experience and security. The rate of e-commerce sales is also growing at an exponential rate, and according to the author, it is estimated that it will reach approximately $2.8 trillion by the end of this year and is projected to reach $4.5 trillion in 2021.

This infographic shares no less than 60 e-commerce stats and trends to help online business owners prepare for the remainder of this year, and 2019. (Note: this infographic was published in July 2018, but since it is from a local Toronto business and has some great information, we thought we’d include it.)

Use These Creative Strategies To Staff Up Before the Holidays

It can be challenging for businesses to secure seasonal workers for the holidays, and especially so for smaller companies. Here the author discusses how leveraging artificial intelligence (AI) and other hiring software can expedite the process so you have the help you need well ahead of the holiday season.

City of Toronto Leads a Pan-Canadian Business Mission to Web Summit

With the goal of promoting the benefits of doing business in Toronto and raising awareness that the City will be the three-year host of the Web Summit’s sister conference, Collision, beginning May 2019, a pan-Canadian delegation will attend the world’s largest annual technology conference in Lisbon, Portugal, November 5th through the 8th. The delegation will include Toronto Mayor John Tory, Chair of the Economic Development Committee Councillor Michael Thompson, as well as 400+ established and startup tech companies, incubators, VC’s, organizations, and individuals.

The Web Summit attracts approximately 70,000 attendees from more than 170 countries. It is “widely regarded as an event that sparks significant international technology partnerships and investments,” says Councillor Thompson. “It is essential for us to be there to promote Toronto as a serious industry player and to encourage conference attendees to come to Collision next year in Toronto.” Further information about the Web Summit can be found at its website.

Fine-Tuning Your Business Presentation

No matter how well you’ve prepared for your business presentation, there are some details and fine-tuning that you should tend to if you want it to go over well. Here the author discusses details such as perfecting visual aids (down to the font and images), as well as investing in quality presentation folders and handouts.

 

About Laura Crest

With an educational background in journalism, Laura began her career as a professional writer and editor 35 years ago with an internship for a magazine while an undergraduate at Michigan State University. After the advent of the internet, Laura transferred her skills from print to digital with a small online consulting business specializing in SEO and content strategy. Since, she has also served as the blog writer, managing editor, and content curator for several small online businesses before joining Telsec Business Centres, where she continues to apply her expertise in content discovery and curation for small businesses.

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