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☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ You're not imagining it — it feels damn near impossible to get into top colleges right now
▼ + stars: | 2024-01-10 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +10 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementEven students who have gone megaviral for acceptance videos showing they got into multiple Ivy League schools called social media a major stressor. Schools are rethinking their admissions processes amid a glut of applicantsAn exponential increase in applications has benefited schools financially and reputationally. "A lot of these schools are making so much money from these application fees, which are $80, $90," Rim said. AdvertisementAnd as the game gets more and more competitive year after year, students know they must rise to untold challenges.

Persons: —, Christopher Rim, Rim, It's, Steve Gardner, Gardner, Grant Tucker, Grant Tucker Gardner, Olivia Zhang, Zhang, Kyungyong Lim, Tucker, Tucker's, Oliva Zhang, they've, Lim, who's, it's, " Tucker Organizations: Service, Command, New York City, Hamptons, Rim, Business, Ivy League, New York University, Northeastern, Babson, NYU, MIT, Yale, Facebook, Harvard, Duke, Cancer, Olympic, . News Locations: Asia, Christopher, New, yesteryear, Georgetown, Harvard merch, Jacksonville , Florida

☆ This is the No. 1 way to combat buyer's remorse, expert says
▼ + stars: | 2023-11-24 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

We've all snagged a Black Friday, Cyber Monday, or Travel Tuesday deal and then been hit with a wave of buyer's remorse. The most obvious way to solve this problem, and the advice many shopping experts will give you, is to make a list and stick to it. Lauren Beitelspacher, an associate professor of marketing at Babson College who studies holiday shopping behavior, has some counterintuitive guidance to help you combat buyer's remorse: budget in the impulse purchase. "But oftentimes when you're shopping you'll see something you want to buy. The guilt might not come from buying it, but come from deviating from your list."

Persons: Lauren Beitelspacher, you'll Organizations: Babson College, Black

☆ More workers should be on PIPs, but they have to be used right first
▼ + stars: | 2023-11-14 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementYou were just told you're being put on a performance-improvement plan at work. Instead, she said, bosses need to be undertaking the essential and sometimes difficult work of coaching workers who need to beef up their performance. Ask about your chances of surviving a PIPNot all PIPs are necessarily well-intentioned efforts to help workers, of course. In many cases, workers have said they felt unfairly targeted by PIPs . AdvertisementFalcone said a good PIP, used judiciously, can help both sides.

Persons: they're, —, Jeanne MacDonald, MacDonald, Paul Falcone, he's, Falcone, Falcone doesn't, He's, yank —, Danna Greenberg, It's Organizations: Service, Korn, Workers, Babson College

☆ How working moms can make sure they don't get lost in the RTO conversation
▼ + stars: | 2023-11-12 | by ( Tim Paradis | Josée Rose | ) www.businessinsider.com time to read: +6 min

Leaders need to articulate team needs; workers need to be honest about work-life prioritization. The flexibility of signing on from their living room leaves more time for school pickups, doctor's appointments, and meal planning, but it's more of a Band-Aid than a real fix for the pile of challenges working moms often face. For these women, who want to be great moms and have fulfilling careers, and some RTO mandates may make achieving both (or either!) AdvertisementAdvertisementTaking an individual approach to employees can help them do their best work — and meet the employer's needs — especially because many RTO mandates often fail to take into account what many working moms need, Scheib said. And I think the kids will suffer at the end of the day and moms and their mental health will suffer."

Persons: —, it's, it'll, Kelly Resendez, Danna Greenberg, Wells, Cork Gaines, Greenberg, Resendez, aren't, Mandy McAllister, Kelly Scheib, Scheib, prescriptively Organizations: Service, Babson College, Bank of America

☆ Moderate US job growth slowdown expected in September
▼ + stars: | 2023-10-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Labor Department's closely watched employment report on Friday is also expected to show wage gains remaining elevated. Eighteen months after the Federal Reserve started raising interest rates, the labor market is only gradually easing. Labor market resilience, which is underpinning demand in the economy, raises the risk that the U.S. central bank could hike rates again by year end. Nonfarm payrolls likely increased by 170,000 jobs last month after rising 187,000 in August. Wage growth likely remained solid, with average hourly earnings forecast to have risen 0.3% after climbing 0.2% in August.

Persons: Elizabeth Frantz, Nick Bunker, Nonfarm, payrolls, Veronica Clark, Clark, Megan Way, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor, Federal Reserve, Citigroup, United Auto Workers, UAW, General Motors, Ford Motor, Chrysler, Hollywood, Babson College, Thomson Locations: Arlington , Virginia, U.S, y WASHINGTON, Tampa , Florida, Payrolls, New York, Washington ., Wellesley , Massachusetts

☆ This Southern city is the No. 1 place to start your own business
▼ + stars: | 2023-09-24 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

The home of mega-corporations like Coca Cola and Delta Airlines is also the best place to start your own business, according to new LinkedIn data. 1 U.S. metro area with the fastest year-over-year growth, 92%, in people founding their own companies, per the job search site. 1 place for young professionals to start a career, according to a report from Wallethub, based on metrics like availability of jobs, average starting salary, unemployment rate, median annual income, housing affordability and family-friendliness. Elsewhere in the country, the only representative for Silicon Valley — San Francisco — comes in at No. "Though the San Francisco Bay Areas remains one of the world's leading places for tech startups, it's possible or perhaps likely that smaller 'Main Street' businesses aren't opening at a nation-leading pace," Anders says.

Persons: Austin, George Anders, LinkedIn's, Anders, San Francisco —, that's, Donna Kelley Organizations: Coca, Delta Airlines, Fox, Seattle, metros, LinkedIn, Atlanta, Atlanta Austin , Texas Seattle San, Atlanta Austin , Texas Seattle San Francisco Chicago Boston, Fort Lauderdale, Fort Lauderdale New York City Los Angeles Denver, San, Global Entrepreneurship Monitor, The Washington Post . Entrepreneurship, Babson College, Washington Post, CNBC Locations: Coca Cola, Atlanta, U.S, Wallethub, pricey, San Francisco and New York, Atlanta Austin , Texas, Atlanta Austin , Texas Seattle San Francisco, Atlanta Austin , Texas Seattle San Francisco Chicago Boston Miami, Fort Lauderdale New York, Fort Lauderdale New York City Los Angeles Denver Atlanta, Austin, Silicon, San Francisco, San Francisco Bay, New York City, Los Angeles, Chicago, Miami, United States, Montana

☆ 35-year-old CEO of $1.4 billion company: 'Don't let perfect be the enemy of good' is terrible advice
▼ + stars: | 2023-09-21 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

You've probably heard the aphorism "perfect is the enemy of good" before. Spenser Skates, the 35-year-old CEO and co-founder of analytics software company Amplitude — which has a market cap of $1.38 billion — disagrees. Yet behind the scenes, the co-founders weren't sold on their own idea — which was "pretty good," but not "the bestest best," Skates says. It's timely advice: Entrepreneurship is on the rise in the U.S., and starting your own business is risky. "For a lot of teams, it's a hard decision, because you're talking about killing your momentum on something and restarting on something else, even when that might be the right decision," Skates says.

Persons: You've, Mark Cuban, Jeff Bezos, Spenser, Curtis Liu, Siri, weren't, That's, —, Liu Organizations: Global Entrepreneurship, Babson College, U.S . Bureau of Labor Statistics, CNBC Locations: Plenty, U.S

☆ Essence Magazine was meant to be a place for 'Black girl magic.' Internally, some employees say it was more like 'Black girl tragic.'
▼ + stars: | 2023-07-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +34 min

"Essence is the most deceptive Black media company in America. Essence Magazine was first published in 1970 at a time when Black business and civil rights leaders called for greater self-determination and empowerment. The magazine was the brainchild of a group of four Black businessmen who identified a lack of publications for Black women in America. "And that is to serve Black women deeply, to serve women of color in a way that no one else has thought about." Essence CEO Michelle Ebanks, Richelieu Dennis, and Essence chief content & creative officer Moana Luu at the 2020 13th Annual ESSENCE Black Women in Hollywood luncheon.

Persons: Richelieu Dennis, Dennis, Susan Taylor, Taylor, —, Jason Kempin, wasn't, Essence Communications Michelle Ebanks, Rich Dennis, Arturo Holmes, Margarita Corporan, Forbes, let's, Black, didn't, Sandra Okerulu, Michelle Ebanks, Luu, Moana, Rich Polk, Wears, Danielle Young, Julee Wilson, Candace Montgomery, Wilson, Montgomery, Martha, Martha Dennis, Rechelle, Sophia, Richelyna, Alan Lescht, bristled, Ebanks, Joy Collins Profet, Readers, Essence's, Collins Profet, Caroline Wanga, — it's, Wanga, unappreciated, Travis Montaque, cofounders, Lionel Hahn, Yesha Callahan, Rich, That's what's, Yoonji Han Organizations: Black, Essence Magazine, Time Inc, Vogue, Sports, Essence Communications, Entertainment, New York Times, Meredith Corporation, Brands, Ventures, Upfronts, Babson College, The, Depot, PepsiCo, Accenture, Unilever, Inc, Magazine, Magazine's, Penske Media, Getty, Essence Ventures, Afropunk, Vice Media, Black Entertainment Television, Digital, Sports Illustrated, Media, Fortress Investment, NASDAQ, Trace Media, texturism, Hamptons, Readers, Employees, Staff, BET, Culture, Democracy, Inkwell, Essence Locations: America, Black, Liberia, Queens, shea, Moana Luu, Martinique, France, Paris, Philippines, Hollywood, Industry City, Brooklyn, Cannes

☆ Former Essence Magazine employees say they witnessed a 'hellish' and 'dehumanizing' culture at the leading publication for Black women in America
▼ + stars: | 2023-07-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +34 min

On June 28, 2020, a group of women using the name Black Females Anonymous published a damning public letter that shook Essence magazine, the leading publication for Black women in America, to the core. Essence magazine was launched in 1970 at a time when Black business and civil-rights leaders called for greater self-determination and empowerment. The magazine was the brainchild of a group of four Black businessmen who identified a lack of publications for Black women in America. "And that is to serve Black women deeply, to serve women of color in a way that no one else has thought about." Essence CEO Michelle Ebanks, Dennis, and Essence chief content and creative officer, Moana Luu, at the 2020 13th Annual Essence Black Women in Hollywood luncheon.

Persons: Richelieu Dennis, Dennis, haven't, Susan Taylor, Taylor, —, Jason Kempin, wasn't, Michelle Ebanks, Rich Dennis, Arturo Holmes, Margarita Corporan, Forbes, let's, didn't, Sandra Okerulu, Ebanks, Luu, Moana, Rich Polk, Wears, Danielle Young, Julee Wilson, Candace Montgomery, Wilson, Montgomery, Martha, Martha Dennis, Rechelle, Sophia, Richelyna, Alan Lescht, bristled, Joy Collins Profet, Readers, Essence's, Collins Profet, Caroline Wanga, — it's, Wanga, unappreciated, Travis Montaque, cofounders, Lionel Hahn, Yesha Callahan, Rich, That's what's, Yoonji Han Organizations: Black, Time Inc, Vogue, Sports, Essence Communications, Entertainment, New York Times, Meredith Corporation, Essence, Inc, Brands, Ventures, Upfronts, Babson College, The, Depot, PepsiCo, Accenture, Unilever, Magazine, Magazine's, Penske Media, Getty, Essence Ventures, Afropunk, Vice Media, Black Entertainment Television, Digital, Sports Illustrated, Media, Fortress Investment, NASDAQ, Trace Media, texturism, Readers, Employees, Staff, BET, Culture, Democracy, Inkwell Locations: America, Black, Liberia, Queens, shea, Moana Luu, Martinique, France, Paris, Philippines, Hollywood, Industry City, Brooklyn, Cannes

☆ Successful people avoid this terrible advice, says bestselling 'Atomic Habits' author: It's 'a very common pitfall'
▼ + stars: | 2023-06-28 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

That's terrible advice, says bestselling author James Clear: Instead, you need to find 100 role models. In other words, the choices and actions that worked for your favorite business mogul or role model may not work for you. Clear's solution: Find a plethora of role models and assess the similarities between them. As you identify potential role models to add to your list, Murphy — who teaches about organizational behavior, leadership and negotiation — recommends asking questions like:How do they conduct themselves? 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

Persons: you've, James Clear, Adam Grant's, Wendy Murphy, Murphy —, Lisa Skeete Tatum, Landit, Tatum, she's, Warren Buffett Organizations: Babson College, Harvard, CNBC

☆ Robert E. Weissman, Former CEO of Dun & Bradstreet, Dies at 82
▼ + stars: | 2023-04-23 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

Robert E. Weissman joined Dun & Bradstreet Corp. in 1979 and rose to chief executive there in 1994. Photo: Weissman FamilyFew would have seen Robert E. Weissman as CEO material in 1960. Within four years, Mr. Weissman was a graduate of Babson College. He was embarking on a fast-track career with stops at a maker of liquid detergent, a manufacturer of cable-TV equipment and a provider of computer timesharing services. When he described his experience as “kind of eclectic,” he wasn’t exaggerating.

☆ Whole Foods co-founder John Mackey, who is worth $75 million, says that business is 'judged and attacked' by society. 'We are the real value creators in the world.'
▼ + stars: | 2023-03-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Whole Foods co-founder John Mackey thinks business is "judged and attacked" by society. Mackey spoke at a conference, in one of his first appearances since stepping down as Whole Foods CEO. "I always felt that business is misunderstood by society," Mackey said during the presentation, according to industry publication Baking Business. "Entrepreneurs are the true heroes in a free-enterprise economy, driving progress in business, society, and the world," he wrote. Now, he plans to start a chain of health restaurants in Southern California called Love.Life!, according to Baking Business.

☆ Lowe’s Opens Warehouses to Stow Goods to Improve Seasonal Distribution Efficiency
▼ + stars: | 2023-03-08 | by ( Liz Young | ) www.wsj.com time to read: +3 min

Lowe’s Cos. is opening more warehouses that will serve as storage facilities for offseason goods, a strategy the home-improvement retailer says will help it more efficiently distribute its inventory. The facilities are part of a broader $1.7 billion investment Lowe’s has been making in its supply chain to fill online orders faster. That has included adding e-commerce fulfillment centers to its network that pick and pack orders for delivery to customers’ homes. The company now has more than 100 logistics facilities. Lowe’s reported comparable sales, those from stores and digital channels operating for at least 12 months, fell 1.5% in the fourth quarter.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

☆ Edgy Campaigns Are Out, TikTok Won’t Stop and Other 2023 Predictions for Marketers
▼ + stars: | 2022-12-19 | by ( Patrick Coffee | ) www.wsj.com time to read: +11 min

Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Most campaigns will focus on discounts to customers or showcase the usefulness of a company’s products, he said. Under this form of marketing, ad firms generally get paid upon completion of a desired end, such as a sale or download. In short, consumers should expect less “vacuous virtue-signaling” from marketers in the coming months, according to Mr. Proulx. But these platforms’ very struggles could result in ad bargains for marketers, said Mr. Solomon of Therabody.

☆ Companies are too quick to lay off employees in a recession, one entrepreneur says. Instead, they should focus on retaining valuable 'human capital.'
▼ + stars: | 2022-12-13 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

Instead, he said, business owners should look at other ways to cut costs. This article is part of Talent Insider, a series containing expert advice to help small business owners tackle a range of hiring challenges. He attributed that outcome to the closer relationships business owners have with their employees. But Niddel said it's not enough to ask employees to take a pay cut if the founder isn't doing so as well. For example, Luzio and her chief operating officer took larger pay cuts than the rest of the staff.

☆ The solution to low productivity and quiet quitting is simpler than most managers realize: It's about making people feel that they matter.
▼ + stars: | 2022-12-12 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +5 min

Meanwhile, more than half of the workforce and "probably more" engaged in quiet quitting this year, according to a June Gallup poll. The solution is simple, but it requires work on the part of leaders to make workers feel like they matter. Managers who don't give their employees a sense of meaning risk higher turnover, increased rates of quiet quitting, and lower productivity. Managers who don't give their employees a sense of meaning risk higher turnover, rates of quiet quitting, and lower productivity. An employee who only gets compliments will begin to wonder whether her manager is being sincere, the Babson professors wrote.

☆ Here's what a 2023 recession could mean for entrepreneurs and how they can prepare
▼ + stars: | 2022-12-08 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

If we're heading into a recession, entrepreneurs will have to prepare their businesses now. If these predictions are accurate, entrepreneurs will need to begin preparing their businesses now for the challenges ahead. Insider spoke with founders and experts to understand how a recession could affect entrepreneurs' bottom lines and the steps they could take now to prepare. Ryan Niddel, a serial entrepreneur and growth specialist, said a recession was not an ideal time to be in debt. "Even in a recession, there are market sectors that continue to do well or even, in some cases, do better," he said.

☆ Elizabeth Holmes, Donald Trump, and childcare are all contributing to a loss of trust in women leaders
▼ + stars: | 2022-12-03 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Trust in women leaders is decreasing across the globe, a new study found. Experts say that the normalization of sexism, as well as perceived failures of some female leaders, may be why. That's on top of reduced childcare options during the pandemic locking many women out of the workforce. The survey, which was taken by over 30,000 people across the G20 countries, found that trust in women as leaders has fallen significantly over the past year. In particular, she pointed out that when Hillary Clinton lost the presidential election to Trump, many media outlets speculated whether America was really ready for a female president.

☆ Don't bank on free returns: 60% of retailers roll out stricter policies
▼ + stars: | 2022-11-25 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Roughly 60% of retailers said they're making changes to existing returns policies, with fewer promising free returns, according to a recent survey of retail executives. "These adjustments in return policies are not there to cover costs," Kieboom said. "The more money retailers lose on returns the more they have to make up for that by raising prices," Beitelspacher said. How to avoid return feesStill, shoppers love free returns almost as much as they love free shipping. In fact, 98% of consumers said that free shipping was the most important consideration when shopping online, followed by more than three-quarters who said the same about free returns, according to a recent report by PowerReviews.

☆ Free returns may soon be a thing of the past as retailers roll out stricter policies
▼ + stars: | 2022-11-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Crew (which was once well-known for a generous return policy that spanned the lifetime of a garment) have shortened their regular return windows to within a month. Changing the return policy is an easier pill for the costumer to swallow than an increase in the purchase price. "Changing the return policy is an easier pill for the costumer to swallow than an increase in the purchase price." How to avoid return feesStill, shoppers love free returns almost as much as they love free shipping. In fact, 98% of consumers said that free shipping was the most important consideration when shopping online, followed by more than three-quarters who said the same about free returns, according to a recent report by PowerReviews.

☆ Justice Ketanji Brown Jackson's potential impact on corporate America "cannot be overstated"
▼ + stars: | 2022-10-12 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

Ketanji Brown Jackson was sworn into the Supreme Court in June and is now hearing cases. But political and social tides could be changing: Ketanji Brown Jackson was sworn in as the first Black female Supreme Court justice in June, following Justice Stephen Breyer's retirement. While Biden makes moves in the political sphere, corporate America, too, is trudging forward. Jackson's work in the Supreme Court could inspire leaders in different sectors to further advance diversity, equity, and inclusion, sources said. Tina Opie, a Fortune 500 strategist and an associate professor of management at Babson College, is hopeful about the future of corporate America.

Kanye West’s breakup with Gap Inc. reflects a broader trend of celebrities seeking more control over the brands they create or back. But in this instance, Mr. Shabelman said the friction between Mr. West and Gap fits into a larger development in the world of celebrity marketing. Mr. West “doesn’t need those corporations,” said Anjali S. Bal, an associate professor of marketing at Babson College. Mr. West formally notified Gap on Thursday that his Yeezy LLC fashion brand was terminating his partnership with the apparel chain. More recently, tennis champion Naomi Osaka last year began a media company called Hana Kuma in partnership with SpringHill Co., an entertainment firm co-founded by LeBron James.

☆ What the corporate rule book skips: The unspoken guidelines every Gen Z worker should know to help their career
▼ + stars: | 2022-08-16 | by ( Ebony Flake | ) www.businessinsider.com time to read: +9 min

Most big companies provide comprehensive orientation programs, employee handbooks, and on-the-job lessons to get new hires up to speed. To help recently hired graduates better understand the corporate world, Insider spoke with five human-resources professionals and advisors about their advice for young workers. But Traci Wilk, the chief people officer at The Learning Experience, a national preschool franchise, says new hires especially should demonstrate their curiosity. When determining how to show up for work, new hires should weigh what the culture actually is versus what it professes to be. To that end, Walden advises new hires to sweep their social-media accounts for any posts that could be deemed inappropriate.

Persons: Traci Wilk, David Altman, McKensie Mack, Mack, Sasha Diskin, Sasha Diskin Sasha Diskin, Rob Cross, Leah Scanlan, Scanlan, Wilk, Jeanniey Walden, Walden Organizations: Starbucks, Center for Creative Leadership, Horizon Therapeutics, Babson College, Oak HC

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