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    • The Economic History of the World in One Simple Picture

      The History of Opportunity via fundersandfounders.com

      This infographic from fundersandfounders.com may be a little simplistic – especially because the timeline goes all the way back to pre-history - but it's still a powerful representation of economic history. It should give us all hope for the future – especially since more and more startups are focusing on areas like energy and healthcare and the environment. But is it all true? Where do numbers like these come from?

      Back in 1998, J. Bradford DeLong of the Department of Economics at U.C. Berkeley wrote a paper on estimating World GDP from one million BC to the present. It’s a fascinating economic read that looks at the growth in human populations and the connection between human population and economic growth. Most interesting are the points where economic output and production jump and stop being linearly connected to population. Basically these changes occur approximately in 1500 with the growth in trade and the Renaissance and in about 1820 with a steady increase in industrialization

      Read More »from The Economic History of the World in One Simple Picture
    • Surveys show that more than half of small businesses still don't have websites. That number represents a huge opportunity to help busy people on budgets establish themselves online inexpensively and quickly. Among those competing for that prize is RebelMouse.

      CEO Paul Berry, who served as CTO at the Huffington Post for 5 years, founded RebelMouse a year ago because creating a good website should be as simple as “point, click, boom,” he says. “You shouldn’t need any developers or designers. Too many people are struggling too hard with their websites.”

      Meanwhile, Berry says many small businesses are starting to see a return on social media investments, but their posts are scattered all over the place, and quickly get buried in various platforms' chronological streams. The several million dollars in venture capital his idea has reeled in indicates Berry is not the only one who thinks this is a problem.

      The RebelMouse concept: Pull all of your Twitter, Facebook, Pinterest, Instagram, and

      Read More »from Startup offers DIY way to build a website in minutes
    • Sales Tax

      Privately held retailers are operating with relatively thin profit margins nearly four years after the end of the recession, according to recent data from Sageworks, a financial information company.

      And some analysts say costs could go up and pinch margins even more if Congress approves the latest effort to get more retailers to collect taxes on their online sales.

      Under the “Marketplace Fairness Act” approved by the Senate, states can require sellers generating more than $1 million in “remote” sales, including those via the Internet, to collect and remit to various states and local governments the jurisdictions’ taxes on those sales. Under current law, businesses must collect applicable state and local sales tax from customers only in states where the firm has a physical presence, such as a store, office or warehouse.

      While the House must pass its own version of the bill and both sides would need to work out any differences, much of the debate surrounding the move has focused on the

      Read More »from Could online-sales tax hurt privately held retailers’ already-thin margins?
    • Why you should give neurotic colleagues a chance

      Personality types at work

      Workplace mangers and team leaders tend to have higher expectations of extraverts. People with more outgoing personalities are more likely to be stronger contributors on the job, employers assume. But when it comes to teamwork, UCLA business school professor and researcher Corinne Bendersky says that’s not necessarily the way things pan out.

      In a recent study, Bendersky and Neha Parekh Shah found that people with neurotic traits exceeded their colleagues’ expectations, while extraverts more often disappointed them.

      “A lot of staffing practice over-weights extraversion as a positive performance signal and sees neurotic cues as a negative performance signal,” Bendersky says. Her research shows that “those signals are not very accurate and the behaviors might not actually persist.”

      Bendersky notes: neither “extravert” nor “neurotic” is used as a derogatory label here, but as an academic terms. They’re just two of the “big 5” personality dimensions that scholars rely on to describe people.

      Read More »from Why you should give neurotic colleagues a chance
    • Summer's coming for everyone. For some of us it is basically already here. School's going to be out soon. And it's just over a week to Memorial Day. The challenge for the business owner is that for some businesses this heralds a slow time when sales dip and it becomes a struggle to keep the doors open. While for others. this is the busy time - the precious few months to make most of the money for the year. Either way, the challenge is that you need to maximize your sales and find more customers. We've tried to include a good set of articles below to help you out. For those of you that haven't yet taken the jump into starting your own business, you can get started with our series on starting a business - the links to the three articles that make up part four (all about naming your business) are below and you can find the links to parts 1 through 3 in them.

      Read More »from Advice, getting help, marketing tips and the return of Summer: Small Business Reading for May 17th, 2013
    • Despite the fact that the cost of providing healthcare benefits is rising at a slower pace, organizations continue to look for ways to control healthcare costs. Anyone who administers an employer-sponsored health plan understands that the cost of healthcare coverage is more expensive for organizations that employ unhealthy people. This understanding led companies to embrace wellness programs.

      Corporate wellness programs can consist of multiple approaches. Many businesses concentrate on weight loss programs for employees after they have a medical exam. Others stock vending machines with healthy snacks only. A corporation can even encourage employees to walk during break and lunch times. Other long-term strategies include newsletters that keep everyone up to date on health issues and guest speakers.

      Improving employee health is vital to a successful business and its bottom line. Businesses can gain a handle on healthcare costs if their employees are healthier and make fewer trips to

      Read More »from Reasons to Consider a Company Wellness Program
    • Mobile Credit
      In order to pay bills and stave off creditors, many small business owners have traditionally used a line of credit or taken out a new card for their business while waiting for invoices to get paid. Nearly half of small business owners surveyed by Bank of America last year said not getting paid on time was their biggest challenge. But for many, that may soon be a thing of the past.

      More and more businesses are turning to an array of payment applications and technological devices that instantly convert sales into cash. They include Intuit GoPayments, PayPal Here, PaySimple, and Square Card Reader. The popularity of these new technologies is soaring as more and more small businesses embrace emerging mobile technology payment solutions.

      PaySimple, a Denver-based company that entered the marketplace in 2006, now counts 10,000 small businesses as customers. The company saw a 50 percent increase in users last year. Others, like Flint Mobile Inc., take photos of credit cards with an iPhone and

      Read More »from Mobile Payment Strategies for Today’s Small Business Owner
    • Would an Internet Sales Tax cost or win you customers?

      If you buy or sell over the Internet, you likely have an opinion on The Marketplace Fairness Act. And if you’re like most Americans surveyed earlier this month, you don’t like it one bit.

      The proposed law, which passed the Senate 10 days ago and now awaits vote in the House, would permit states to require some online retailers to collect appropriate local and state sales taxes. The law would only apply to sellers with at least $1 million in sales in states where they don’t have physical operations. And it would only apply to purchases made by customers in states where sales tax is already collected on similar purchases from non-online retailers.

      In fact, by law, consumers are already required to pay state sales tax on their online purchases. But when online retailers don’t collect, most consumers don’t voluntarily pay, and states have a hard time enforcing the law. The argument of those who support The Marketplace Fairness Act is that passing a bill allowing states to require retailers

      Read More »from Would an Internet Sales Tax cost or win you customers?
    • Generation Y gives entrepreneurship a new definition

      Infographic: The oDesk and Millennial Branding Spring 2013 Future of Work SurveyTo be an entrepreneur you need not own a business, risk your personal capital, create jobs, or even work your rump off. You just need to have a certain mindset. At least that’s the definition of entrepreneurship offered by the expanding freelance workforce.

      Survey results released today by the consulting firm Millennial Branding and oDesk reveal that 90 percent of independent workers and “solopreneurs” associate “being an entrepreneur” with having a mindset to “see opportunities, take risks, and make things happen,” rather than with having actually started a company. In fact, more than half of freelancers consider themselves to be entrepreneurs, according to survey results.

      On behalf of Millennial Branding and oDesk, Genesis Research Associates surveyed more than 3,000 freelancers worldwide—over 60 percent of them between 19 and 30 years old (a.k.a. “millennials” or members of Generation Y) to examine their perspectives on the future of work. Small business owners might say their

      Read More »from Generation Y gives entrepreneurship a new definition
    • Business Debt

      Debt Service Coverage

      One of the most basic measures of a company’s creditworthiness is the Debt Service Coverage ratio, which shows a firm’s ongoing ability to keep in control both debt and interest. The Debt Service Coverage Ratio, defined as EBITDA divided by a firm’s current portion of long-term debt and interest expense, is an extremely important metric for predicting default. More than half of the banks and asset-based lenders in the Pepperdine Capital Markets survey said this statistic was important or very important in their lending decisions.

      Given its role in lending decisions, an improvement to the Debt Service Coverage Ratio can be beneficial, and it can be accomplished in a variety of ways. Cutting expenses may boost the firm’s EBITDA, even if debt and interest payments stay the same.

      But a business can also improve this ratio by focusing on debt and interest expense. Short of extending the term of a loan or refinancing to lower interest expense, one effective way of tackling

      Read More »from Looking to apply for a business loan? Three areas of improvement for your small business

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    ABOUT PROFIT MINDED

    Profit Minded is the Yahoo! Small Business Advisor blog that looks at ideas, trends, commerce, and noteworthy developments that can help small business owners develop and grow their organizations.

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    Owen Linderholm

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