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Showing posts from April, 2018

How to Avoid Letting Emotions Control Financial Decision-Making

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As a business owner or entrepreneur, your success will, to a large degree, be determined by how well you  manage the financial resources  you have at your disposal. And, if there’s one mistake you don’t want to make, it’s letting your emotions control financial decision-making Emotions and Decision-Making Emotions can screw up your decision-making – that’s an idea that behavioral scientist  Francesca Gino explores and confirms  in an article published in the Harvard Business Review. Gino touches on a number of different aspects of emotion-based decision making, but one of the most interesting takeaways is a Wharton School study she highlights. In the study, participants were asked to estimate the weight of a person based on nothing more than a picture of the person. Participants were told they’d be paid based on accuracy, which provided ample motivation After providing estimates, they watched a short video clip. Some participants viewed a  Natio...

How to Make Better Decisions to Move Your Business Forward

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Inside of your business, there are three levels of decision-making. The problem is, most  entrepreneurs  are unaware of this, so they simply make whatever decision they think is best. In the beginning this is fine, because you build initial success and momentum through trial and error. It helps to be the entrepreneur who breaks things and innovates, but as you scale your business from six to seven figures, you need to evolve from an entrepreneur into a CEO. You need to own your business so it no longer owns you, which requires a  different level of thinking . Within your business there are three types: Reactive decision-making Proactive decision-making Strategic decision-making In the beginning, most entrepreneurs base their decision-making on reactive thinking. You move at a fast pace, so it's near impossible to strategize and come up with a plan. Your aim is to elevate through these three levels until you base the majority of your deci...

7 Factors That Make a Brand Stand Out

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Image credit:  Bloomua | Shutterstock.com The world is drowning in brands. There are  more than 28 million small businesses  in the United States, and even more mid- to large-size businesses that increase that number further. Even if only a fraction of those businesses compete with yours, that’s an overwhelming number to deal with in an age where information is plentiful and digital exchanges are commonplace. To make matters even more complicated, all those brands are competing with one other for visibility by using marketing and advertising campaigns to clamor for their target audience’s attention. If you want any hope of your own audience noticing your brand among this mass of competition, you need to stand out. How can you do that? By making sure your brand has, and demonstrates, these seven important qualities: 1. Originality First, your brand needs to be original. If you attempt to mimic a competitor’s brand, people won’t ha...