Wednesday 24th July 2024
  • Why the FTC Is Eyeing 'Surveillance Pricing' at Companies Like Mastercard, JPMorgan Chase, and McKinsey

    The FTC has asked Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, PROS, Accenture, and McKinsey to provide information about products and services they offer that help other businesses determine how they set prices for consumers.

    The services in question feed customer data such as purchase history, demographics, and credit history into algorithms to determine individualized pricing. The FTC characterizes the market for such products as "opaque" and wants to know more about what the products do and who is using them.

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  • Financial Stress Leaves Workers Struggling to Focus

    Almost 52 percent of employees are stressed about their finances daily or several times per day, according to a new report by earned wage access provider ZayZoon. More than half of workers surveyed said they have no money saved for an unexpected expense, meaning they're barely earning enough to make ends meet. And when an employee isn't sure if they'll be able to cover their monthly expenses, it's harder to show up to work as the best version of themselves, the report found.

    Focus is the first trait that suffers: More than 40 percent of surveyed workers said financial stress impacts their ability to concentrate at work. Employers have also noticed: 65 percent of workplace leaders said they have observed employees' financial health affecting their focus negatively.

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  • The Myth of the Extroverted Leader: Why Ambiverts Might Be the Real Success Story

    When we think of a leader, many of us imagine a magnetic, extroverted person -- a "salesperson" who loves socializing and thrives in the spotlight. We associate leadership with traits such as assertiveness and extroversion, just as we do with salespeople. But research has shown this to be wrong and to veer us in the wrong direction in our thinking about effective styles of leadership.

    Grant studied sales reps at a software company and found that their personalities ranged from introvert (given a score of 1 point) to extrovert (given a score of 7 points). After three months, the average revenue they generated per hour didn't vary much: $120 for the introverts and $125 for the extroverts. This goes against the popular notion that extroverts might naturally be more successful in sales or leadership roles.

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  • 3 Ways to Implement Emotional Intelligence Practices When Hiring

    Emotional intelligence, or EI, has become a big buzzword in the last few years. An immensely helpful tool in all aspects of business, it can help leaders and employees alike navigate the people side of the workplace and make for a better overall work culture where people can share their ideas and feel respected by their peers.

    Mental Health America defines EI as the "ability to manage both your own emotions and understand the emotions around you." EI comes in various forms, including self-awareness, empathy, and social skills, and can be applied to various facets of one's life, including both the personal and professional.

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  • The Astronaut Analogy: Limiting Your Work Hours for Maximum Value

    As a business owner, it can often feel like you're being pulled in a thousand different directions, much like the Stretch Armstrong toy, constantly stretched to your limits. This constant pressure can lead to burnout and inefficiency. One powerful approach to combating this is the astronaut analogy: treating your work hours like an astronaut treats their limited resources. This perspective can help you focus on what truly matters and maximize the value of your time.

    Imagine an astronaut preparing for a space mission. They have a finite amount of resources -- oxygen, water, food, and fuel. They must use these resources wisely to ensure their survival and the success of their mission. Similarly, as a business owner, your most critical resource is your time. Just like an astronaut, you need to manage this limited resource strategically to achieve your goals.

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  • Richard Branson Says This 1 Small Habit Separates Average Performers From Exceptional Ones 

    Virgin Group founder Sir Richard Branson has built dozens of companies, circled the globe in a hot air balloon, and been to space, among many other adventures. By just about any measure, he's achieved exceptional things.

    Certainly, that's in part because of his exceptional personality. But as Branson explained in a recent appearance on WorkLife, the podcast hosted by organizational psychologist and author Adam Grant, it's also because of one small, dead-simple habit that absolutely anyone can start doing today.

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  • As Reid Hoffman Backs Harris, Like-Minded Business Owners Say, 'Yes We Kam'

    Welcome to this week's Founder Focus! I'm Melissa Angell, Inc.'s policy correspondent, and each week I'll be dissecting some of the top policy issues small businesses face. You can sign up to get this in your inbox every week here.

    A startling debate between President Joe Biden and former president Donald Trump. Trump surviving an assassination attempt and picking a running mate. Biden getting Covid again, and then withdrawing from the presidential race just four days later and naming Vice President Kamala Harris as his chosen successor.

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  • 8 Strategies For Success Using Remote On-Demand Teams

    With the pace of change ever escalating, business owners today can't afford to acquire talent through traditional hiring and need to revise the perception that "talent" is only full-time office employees. More and more people in the workforce don't want to be resident employees. More than 40 percent of U.S. workers say they would start looking for another job if they weren't offered remote options.

    The answer to both is a new fast and flexible talent strategy based on freelancers, consultants, experts, and specialists, who are part of the new "1099 economy" including Baby Boomers and Millennials. For the full picture, see the classic book, Navigating the Talent Shift, with convincing arguments by Lisa Hufford, Founder of Simplicity Consulting talent solutions.

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  • Why the Most Successful People Always Solve for the Monkey First

    Before I left my corporate job, I needed to see if I could generate income as a ghostwriter. Instead of buying a desk, buying a fax machine, buying a bunch of supplies, and converting a room into a home office, I used the kitchen table and the laptop I already owned.

    Say you want to teach a monkey to stand on a pedestal and recite Shakespeare. It's tempting to build the pedestal first or at least spend some amount of time building the pedestal. The pedestal is lower hanging fruit. The pedestal is a relatively easy win.

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