Get to know these small business statistics

Sometimes entrepreneurs are working so quickly and are so focused that it can feel like we're working in a vacuum. Getting to know what's going on with other small businesses can be a crucial way to gauge what's happening in the industry and where we stand.To make that a little bit easier, we've compiled some statistics about small businesses that can help you take the temperature of the field and gain an understanding of today's climate. We sifted through reams of government data to drill down ...
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5 HR metrics startups should be tracking

Your human resources initiatives directly affect your employees. They may even mean the difference between happy and unhappy staff.To help you understand what's working, and whether or not it's cost-effective, you want to use human resources (HR) metrics.This way you can measure which of your human resource activities are contributing to your overall startup growth and performance. These may include such things as:Hiring and onboardingEmployee retentionPerformance managementOverall staff satisfa...
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5 of the most common hiring mistakes startups make

According to Career Builder, 74% of companies that admit they've hired the wrong person for an open position lost an average of $14,900 for each bad hire.What's more, according to the US Department of Labor, the cost of a bad hire can reach up to 30% of the employee's first-year earnings.These stats show you just how important it is to hire right the first time. To assist you, let's look at five of the most common hiring mistakes startups make.#1: Hiring people you knowWhile in some instances hi...
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Should your startup consider a shorter working week?

A business in New Zealand experimented by offering their employees a 32-hour work week while paying them for 40 hours.The results? Happier employees and increased productivity.In fact, the experiment worked so well the company found their staff to be on time, have better attendance, take less breaks, and produce at the same level as they did with their five-day work week.While this same experiment has been repeated in countries all over the world, it may leave you wondering if your startup shoul...
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How a great careers page can improve a startup's recruiting efforts

Your startup has huge potential, and that's not only for your business. It's also for the team members you hire.New team members can experience growing a company from the ground up, they can help you build a terrific company culture, and there's often a lot of room for growth.Yet, hiring can be one of the most difficult parts of running a startup. So, what's a startup owner to do? One of the first things in your hiring process is to turn to your website.In this article, we look at how a great ca...
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Here’s the age you’re most likely to gain startup success

As tech firms work to settle charges of ageism and retreats are popping up to help workers over 30 learn to compete with younger employees, many people may assume that any age over 25 is too old to launch a startup. But luckily for older workers, that view is inaccurate. In reality, the mean age for founders at the highest-growth new ventures is 45.That's the word from a report conducted by researchers from MIT, Northwestern University and the US Census Bureau, which was recently published by No...
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5 advantages of seeking venture capital

You're beginning a new company and as such, you're most likely looking for funding. This is where venture capital comes in.What is venture capital? It's the financing that is invested in startups. It's usually a high risk investment with the potential for unlimited growth.Most people who provide venture capital do it on an ongoing basis. In other words, that's their business. To help you decide whether or not you should seek it out, we look at the five advantages of seeking venture capital. ...
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How startups can get traction by attending trade shows

Are trade shows worth it for your startup?The answer is yes. While many businesses forgo trade shows for other forms of advertising, if you do this, you're leaving money on the table.Trade shows create an incredible opportunity for your startup to be seen. It's a great place for people to try your product and see it in person.What's more, Meeting Professionals International found there's a 40% close rate for meetings you have in person. Let's say you're selling hot tubs at a trade show – that's ...
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How surveying your employees can improve your startup

As a standard business practice, most companies survey their customers. You may have even sent surveys of your own. Businesses survey their customers to gauge customer loyalty, see how likely customers are to refer a business to family and friends, and to measure their overall satisfaction with the products and services they are using.Customer surveys provide powerful data that can help your startup improve. So, it stands to reason that asking your employees for their opinions can even further y...
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How startups can offer career advancement opportunities to their employees

The job market is tight, and the number of voluntary separations by employees is rising year over year. It's an employees' market, and it's more important than ever to take care of your staff. What does this mean for your startup?To be successful and retain the best employees, you want to put the professional development of your team at the forefront. The most talented workers want to enhance their skills.This is good not only for your team but for your startup. Here's how startups can offer car...
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