Salespeople are often guilty of talking too much during conversations with prospects, whether it's due to nervousness, the lack of a plan or just having a dynamic personality, writes John Doerr. Allow clients ample time to talk and ask open-ended questions in order to build more trust and learn about their needs, Doerr suggests.
American Airlines plans to drop flights to as many as 30 small cities if federal funding supporting airline payrolls is not renewed, an airline executive said in what may be an effort to bolster the case for continuing aid. "Demand for air travel has not returned as anticipated," said Katherine Estep, a spokeswoman for Airlines for America.
Epic Games has filed lawsuits against Google and Apple after the companies pulled "Fortnite" from their app stores over a dispute involving in-game payment transactions. Both companies say Epic violated their rules, while Epic accuses Apple and Google of monopolistic practices.
KFC is donating 1 million pieces of chicken to teachers and school staff with its "back-to-school buckets" initiative. Twitter or Instagram users can nominate teachers for the program starting Aug. 20.
Five Georgia high-school students localized supply chains for personal protective equipment when they saw the COVID-19 pandemic overwhelming traditional supply chains. The teens' ProjectParalink donated mapping software from a food-delivery program they created, then partnered with small manufacturers to fill local needs.
Themed events, brainstorming, flash sales and other creative hacks can attract and engage viewers on Instagram Live, says Natasha Samuel, founder of an Instagram creative studio. Other tips include how to turn photos or video into a presentation and how to save a livestream for replay.
For an insight into how financially stable your business is, understanding your operating margins can show your profits after paying operating expenses, writes columnist Susan Guillory. Steps for calculating this metric, along with why it matters and what a good operating margin looks like are discussed in detail.
Federal and state officials are suing merchant cash advance companies that they allege prey on small businesses with costly loans and menacing collection tactics. Rohit Chopra, a commissioner of the Federal Trade Commission, says they are seeking "a systemic solution that makes sure they can all be wiped out before they do more damage."
Business owners who want to sell their operation will get better prices if they finance deals themselves, small-business adviser Richard Parker writes. Buyers can reduce risk by telling sellers, "I'll pay your price; you take my terms," he notes.
Entrepreneurs unsure of whether the climate is right to provide a new product or service can begin to decide by first talking with customers to understand their priorities, writes Illumio CEO and co-founder Andrew Rubin. Look for opportunities related to current offerings, and ensure that the new product has a clear value, he writes.
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