Small business owners often find themselves with extra time during the summer and wonder how they can best use it. While that extra time is well spent with family or on a much need vacation, entrepreneurs should also consider joining organizations in your local community. This Trending on Thursday details why it’s so important for small business owners to have a strong presence in their hometowns, as well as some advice for conducting internal audits and business tips from a former nuclear submarine captain.
Check out this week’s #smallbiz news roundup below and tweet us at @MarlinBusiness with your summer plans.
- There’s a great article in this Tuesday’s Wall Street Journal detailing how the government can do more to help small businesses. In the 1980s, small businesses generated 58 percent of the new jobs, according to the Census Bureau. Today, only 31 percent of new job growth comes from small businesses. Although headlines rave about high-tech entrepreneurs, startups created only about 2.8 million jobs a year during the recovery, down from 3.6 million in 2006. While political leaders often invoke small businesses as crucial to America’s growth, author Robert Wilmers argues that there is much more they can do to show their support.
- Speaking of government, Karen Clark Cole at Forbes wrote an illuminating piece detailing how small business owners and entrepreneurs don’t need a seat on Capitol Hill to effect meaningful change. While there may be challenges associated with both doing the right thing and maintaining good business standing, small business owners always have a chance to influence their local communities in positive ways. From school boards to neighborhood safety, there are numerous ways to get active in your town.
- The first time you said to someone, “I’m starting my own business,” you probably felt a sense of pride and empowerment, as well as nervousness. When setting up a small business, you want to plan for as many contingencies as possible, and prepare for anything the marketplace or business world may throw at you. But when you read up on tips for small business owners, one thing you probably won’t see is information about a crucial activity: the internal audit. Melinda Emerson details why this process is so important in this piece on Small Business Trends.
- “How do you stay so motivated?” That is a question all small business owners are asked on a constant basis – by friends, business connections, colleagues. Jonathan Long says, “we are often so consumed by motivating our teams, employees, business partners and customers, that we sometimes forget something extremely important — our own motivation.” Long details six ways he stays motivated that you can practice, too, in an article on Entrepreneur.
- Imagine spending a year of your life studying and preparing to captain a nuclear submarine, only to be re-assigned to a brand-new sub just two weeks before departure. That’s exactly what happened to David Marquet, who has turned his amazing story into a best-selling business book, Turn the Ship Around. Turns out there are a lot of similarities between submarines and offices. Like a captain on a submarine, many office employees view their boss as someone who gives out instructions for them to simply do as they are told. But as Marquet says, no submarine in history has ever sunk only half the vessel – it either all sinks or all succeeds based in large part on the teamwork of the crew and the leadership of the captain.