The World's Best Book Summaries
What are the important characteristics of a leader? How do your leadership skills determine your success? The most successful people are those who lead others. For instance, the CEO of a company is surely considered more successful than an entry-level employee. If you want to take your business to the next level, embrace these important characteristics of a leader.
When does reinvesting profit make sense? Are there other things you need to prioritize before making a reinvestment in your business? Reinvesting profit allows you to reframe profits as business expenses and avoid extra taxes. Knowing when to reinvest profit is key to doing this successfully. This article will detail the steps you need to take and the things you need to consider before reinvesting your profits.
Is your company currently going through a transition? How do you navigate change in the workplace? Many people fear change because it can be difficult and painful, even if it’s necessary and inevitable. Therefore, you must readily embrace change, rather than fear it. Continue reading for the key to embracing change in the workplace.
How do you set sales targets that are realistic? What factors should you take into account when setting a sales quota? You set sales targets by considering how much money you need for your own comfort, which and how many customers you will attract, and whether you can deliver that quantity of goods or services to your customers. Each of these factors is important to understand before setting a target. Here are the factors you should consider when setting a target for sales.
How is the explosive rise of obesity and diabetes weight-loss medications changing Americans’ snacking habits? Will the medications kill the snack food industry? Prescriptions for appetite-suppressing diabetes medications like Ozempic and Wegovy are surging as Americans use the drugs for weight loss. The drugs are altering Americans’ snacking habits—benefiting drugmakers but threatening the snack industry’s bottom line. Here are the two views on whether or not the snack food industry will decline.
What’s the Business Hierarchy of Needs? How does it work? The Business Hierarchy of Needs is a system for prioritizing tasks in business introduced by business author Mike Michalowicz in Fix This Next. Understanding this system is an advantage for any business owner. Learn how the Business Hierarchy of Needs works and how to use it.
What is a fabless business model? Do companies benefit from prioritizing design over manufacturing? The fabless business model is a design-centric model wherein a company focuses only on designing products rather than both designing and manufacturing. Digging deeper into the origins of the fabless model, you can see where and how this model has played a role in economic development. Continue reading to learn what makes the fabless model successful.
What is conscious capitalism? Why is there a need for an improved version of capitalism? In Conscious Capitalism, John Mackey and Rajendra Sisodia explain why they believe free-market capitalism benefits people, despite common critiques of the system. They further explain how conscious capitalism improves on traditional capitalism, addressing those critiques. Continue reading for a breakdown of conscious capitalism and how it benefits businesses.
What is dynamic pricing? Who does dynamic pricing benefit and harm? Dynamic pricing, also known as surge pricing, is spreading across US industries—from flights and rideshares to restaurants, retail, and entertainment. Dynamic pricing can help companies, but it’s also criticized for exploiting consumers, harming lower-income buyers, and eroding customers’ trust. Here’s a look at dynamic pricing pros and cons.
What are the key points in Mike Michalowicz’s Fix This Next book? How does Michalowicz explain business needs? In Fix This Next, Mike Michalowicz introduces the Business Hierarchy of Needs, a take on Maslow’s Hierarchy of Needs applied to business. The ideas in Fix This Next provide a foundation for business owners to understand how to manage their companies. Read more for an overview of Fix This Next, including a detailed explanation of the Business Hierarchy of Needs.