After starting companies during the Great Recession, the Inspired Capital co-founder knows the importance of quick pivots.
This article originally published on GoDaddy’s OpenWeStand.org website.
Small businesses across the country have been drastically impacted by the COVID-19 pandemic. According to the U.S. Chamber of Commerce Small Business Coronavirus Impact Poll, 70% of small businesses are concerned about long-term financial hardship while 58% worry about having to permanently close. With small businesses teetering on the edge of failure, other entrepreneurs are stepping in. Local business owners can help each other out and build each other up during this pandemic.
While some companies might technically be your competitors, it’s important to focus on collaboration over competition: we’re all in this together. Here’s how to support local businesses and protect small businesses as an entrepreneur.
Buy from local vendors
The OKR framework is a method used to bridge the gap between strategizing and executing ambitious business goals, but it can be used for personal goals too. OKR, which stands for “Objectives and Key Results,” has revolutionized the way the corporate world approaches goal-setting. OKR allows teams to focus on big picture outcomes and achieve more than the team thought possible, even if they don’t completely attain the original goal.
Since the late 1990s, thousands of organizations and Fortune 500 companies worldwide have implemented the OKR framework to improve both team and individual performance, and increase their bottom lines. What if you could use these same principles to achieve your personal goals? It’s definitely possible to apply the OKR framework in a non-business context to map your future success.
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Millions of people around the world dream of becoming an entrepreneur. Be your own boss, work your own hours, and get to sit back and relax while telling others what work needs to be done.
Now if only being an entrepreneur was that easy!
Venturing out on your own path to not only run your own business but succeed at entrepreneurship, is a lot of risk even if you are only choosing to do it in your spare time. However, by implementing a business plan to handle the following dangers, you will have solutions in place to “get your ducks in a row” before jumping into the business owner pond.
1. No steady paycheck
All businesses must reinvest capital back into the company to allow for growth and it can take months, if not
With all the fuss over O’Shea Jackson, better known as Ice Cube, “assisting” the Trump Administration with their Platinum Plan for Black Americans, people are frustrated that the former NWA rapper would even meet, let alone, collaborate with Trump’s team so close to the election. The irony is the plan that the Trump administration has devised is eerily similar to something the Congressional Black Caucus has introduced, according to TheGrio.
When asked about Ice Cube’s Contract With Black America, Rep. Sheila Jackson Lee, (D-TX) told theGrio, “I have not heard first-hand of any attempt to reach out to any senior members of the caucus about this.”
The Congressional Black Caucus says the plan makes similar points brought forth in its Jobs and Justice Act 2020 legislation proposal introduced just last month in September.
Rep. Jackson Lee added that the Trump administration has shown little interest in the … Read the rest