Monday, May 11, 2020

Don’t Let a Single Metric Drive Your Business

It’s impossible to capture the complexities of your business with a single metric. Prioritize a single headline number — to the exclusion of all others — and you’ll invariably leave a lot of people and priorities out. Moreover, you’re likely to constrain your growth. Instead, you need to think about a constellation of metrics that focus on the measurement of three things: quantity, quality, and efficiency.

Metrics are essential to running a business. We all know that. What may not be as obvious, though, is how metrics intersect with your company mission and even employee happiness. Prioritize a single number — to the exclusion of all others — and you'll invariably leave a lot of people and priorities out. Moreover, you're likely to constrain your growth. During my time at Airbnb, I lead teams that included product managers, designers, engineers, and data scientists.

Publisher: Harvard Business Review
Date: 2020-05-11T12:25:54Z
Twitter: @harvardbiz
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While you're here, how about this:

UK lockdown plans criticized by business groups and labor unions - CNN
Publisher: CNN
Date: 2020-05-11T10:54:30Z
Author: Hanna Ziady CNN Business
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Mnuchin Supports Changes to Small-Business Aid Program - WSJ

WASHINGTON—Treasury Secretary Steven Mnuchin said Monday that the government will look to make fixes to help restaurants and others participate in the $660 billion small-business aid program, a move that could help ease some of the criticism surrounding the program.

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Publisher: WSJ
Date: 2020-05-11T20:01:00.000Z
Author: Amara Omeokwe and Paul Kiernan
Twitter: @WSJ
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North Ridgeville mayor steps up invitations for business relocations to the city - cleveland.com

NORTH RIDGEVILLE, Ohio -- Kevin Corcoran, elected North Ridgeville's new mayor last November, is seeking to make good on a major campaign promise: Bring new business to the city.

During the campaign, some residents commented that there is enough residential development in the city, but not enough business activity.

Corcoran is making his case to attract businesses to North Ridgeville, touting the city as "… the fastest-growing city in Northern Ohio and sixth in the entire state. We have consistently been rated as one of the safest cities in Ohio."

Publisher: cleveland
Date: 2020-05-11T15:56:46.118Z
Author: gancom32
Twitter: @clevelanddotcom
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Not to change the topic here:

The Battle Between Politicians And Business Leaders: California Assemblywoman Tweets 'F*ck Elon

In a measured, thoughtful tweet intended to constructively deal with the simmering conflict between lawmakers who want to refrain from opening the economy to protect the health and safety of American citizens and companies that need to start operating again to keep workers employed, produce needed goods and services and stave off financial ruin, California assemblywoman Lorena Gonzalez (D) elegantly wrote:

Gonzalez sent the message after Tesla cofounder and CEO Elon Musk announced that he planned on moving his operations out of California, in response to his view of the state's unfair, capricious and heavy-handed treatment.  

Publisher: Forbes
Date: 2020-05-11
Author: Jack Kelly
Twitter: @forbes
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Maui retail business reopenings begin today | News, Sports, Jobs - Maui News

HouseMart Ben Franklin employees at the Queen Ka'ahumanu Center location prepare the store for reopening Monday. Restocking are employees Malia Ah Hee and Maileen Harris-Akamine. LEI LEE photos

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Retail businesses in Maui County will be allowed to open today under restrictions that will include the wearing of masks, social distancing and regular sanitizing.

The reopening marks the first signs of recovery since Maui County’s “stay at home, work from home” order went into effect on March 25, requiring many nonessential businesses to close temporarily and directing residents to stay home as much as possible.

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Steer Your Family Businesses Through an Unplanned Transition

At first glance, Alice's and Ben's stories may seem like they couldn't be more different. But in fact, they are both cast from the same mold: the difficult aftermath of family business leadership transitions that happen outside of a conventional timeframe.

An unprepared next generation often defaults to backing away, either opting to leave employment in the business or treating it purely as a financial asset without engaging in leadership. Both options tend to lead to selling the business altogether — an outcome that the previous generation may not have anticipated or wanted. But such unplanned transitions don't have to inevitably end in disaster.

Publisher: Harvard Business Review
Date: 2020-05-11T12:45:37Z
Twitter: @harvardbiz
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Extension offers webinar for small business on finding and managing money | University of Nevada,

In lieu of in-person events for small businesses, such as this, Extension is now offering virtual town halls and webinars for small businesses to help them through the COVID-19 crisis. Photo by Donna Morell.

During the COVID-19 crisis, small-business owners need additional support and guidance, as well as opportunities to talk with other small-business owners. Extension is offering virtual question-and-answer “Coping With COVID-19 Town Halls” for small businesses every Wednesday, and webinars on specific topics for small businesses every Friday.

Publisher: University of Nevada, Reno
Twitter: @unevadareno
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