Innovative Business Strategies

By American Express OPEN

Hear top women entrepreneurs Alli Webb (DryBar), Susan Feldman (One Kings Lane) and Taryn Rose (Taryn Rose) share insights at OPEN for Women: CEO BootCamp on how they launched their successful ventures using innovative business strategies. Moderated by Nicole Valentine of Synergy Business Development

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3 Ways to Stop Losing Your Best Employees

By Mike Michalowicz

You know the only thing that’s more expensive than hiring, paying and training new employees? Losing an employee and having to do it all over again. Over and over I see that improving employee retention is one of the smartest and most fiscally sound moves any business can make.

As usual, a little planning can go a long way to reducing employee turnover and keeping your staff stable and productive.

1. Match Your Culture

Here’s a secret: Turnover can start on a new employee’s very first day! Rather than hiring only for a particular skill set and hoping that the qualified applicant will …read more

Vetrepreneurs

By JJ Ramberg

When people in the armed services enter the civilian workforce, they usually bring a drive, discipline, and focus on teamwork that make them ideal entrepreneurs. In this week’s Small Biz and Veterans, Larry Broughton, vetrepreneur and co-author of the book, “Victory: Seven Entrepreneur Success Strategies for Veterans,” joins us. He shares the benefits of adding veterans to your small business team.

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The Ultimate Guide to Summer Business Travel

By Geoff Williams

Summer travel usually brings to mind tropical beaches, national parks and family reunions. But for busy entrepreneurs, summer travel simply means you’re hitting the road while everyone else—or so it seems—is on vacation.

Due to the sudden influx of people headed for some rest and relaxation, hotel lobbies, airports, train stations, rest areas and roadways are more crowded than usual—which only helps underscore that you’re doing anything but getting some R&R. As you fight the crowds to connect to your next flight or train, it can make for a weird disconnect seeing everyone else having fun while you’re hoping to score …read more

What Your Employees Can Teach You About Running Your Business Better

By James O’Brien, PhD

It should come as no surprise to small-business owners that employees often see things differently than they do, especially when it concerns how the company should be run. Understanding what these differences are, however, is crucial to a healthy business—one that prospers under strong management and continues to thrive and grow with help from loyal employees.

“CEOs who speak to their teams about the company’s purpose and invite their employees to help build how they collectively behave and realize their purpose are companies of inclusion and respect,” says Shannon Mullen, founder of New York City-based Mullen Marketing Search. “CEOs …read more

How One Company Reinvented the Most Ordinary Product You Can Imagine

By Donna Fenn

Sometimes the most disruptive innovation is wrapped around the most ordinary product. Think Warby Parker, Bonobos and Harry’s. Each of these companies makes everyday products (eyeglasses, men’s clothing and men’s shaving products, respectively), keep quality high and prices reasonable by cutting out the middleman, and deliver an appealing brand message directly to consumers.

Last year, serial entrepreneur Philip Krim began wondering if the same business model could be applied to mattresses. Several months later, he and four co-founders launched Casper (tagline: “The Mattress Reimagined”). The product, manufactured entirely in the United States, is made with a combination of latex …read more

Executive Presence: 7 Strategies to Stand Out as a Leader

By Bruna Martinuzzi

Executive presence is sometimes referred to as personal presence, or leadership presence. We admire it in others and want it for ourselves.

But executive presence is an elusive concept—there’s no dictionary entry for it. You know it when you see it, of course. It’s the X factor that makes someone stand out above the din of the crowd.

There’s a myth that executive presence is something that’s innate—you either have it or you don’t. While it’s true that executive presence comes more naturally for some than others, the reality is, everyone can work on developing executive presence. And once you achieve …read more

How to Create a Home Office You’ll Love Working In

By Jayson DeMers

Working from home has many advantages, such as reduced costs, better work-life balance and increased productivity. One way to further improve productivity is to design an ideal home office—one you love being in.

To start, you’ll need to take a number of aspects into consideration, as outlined by ClickMeeting blogger Agnes Jozwiak. Are you going to be video conferencing? How about receiving visitors? Will you have a partner or intern working with you in your space? It’s a lot to plan for. What else do you need for a productive home office?

Equipment

Only purchase equipment that will be …read more

Are You to Blame for Your Employees’ Workplace Conflicts?

By Vivian Giang

When employee conflicts rear their ugly heads in the workplace, it’s easy to blame personality differences. It’s simple, and makes us feel as if we have control of the situation.

On the Harvard Business Review blog, organizational psychologist Ben Dattner explains that the reason we tend to immediately blame people during conflicts comes down to evolution. “As human beings evolved, our survival depended on being able to quickly identify and differentiate friend from foe, which meant making rapid judgments about the character and intentions of other people or tribes,” Dattner explains. “Focusing on people rather than situations is faster …read more

Top 10 Business Tips From This Week’s OPEN Forum

By Anthonia Akitunde

1. Make referrals part of your marketing strategy. When it comes to marketing, word of mouth is still king: 84 percent of people trust recommendations from someone they know, according to a Nielsen survey. Use your existing customers to build up referrals to your business. “They can provide you with the best referrals possible,” writes OPEN Forum contributor Denise O’Berry. “Plus, if they are your ideal customer, they likely know more people like themselves and will refer more ideal customers to you.” (From “The One Marketing Tactic That Can Improve Your Cash Flow,” by Denise O’Berry)

2. <a class="colorbox" href="https://www.americanexpress.com/us/small-business/openforum/articles/the-key-to-profitability-that-many-small-businesses-get-wrong/" …read more