What Makes Entrepreneurs Burn Out
By now we are all familiar with the risks of burnout. Research shows that it leads to work-related issues such as job dissatisfaction, absenteeism, inefficient decision making, and turnover, as well as health-related issues such as depression, heart disease, and even death. Research also reveals some of the common causes of burnout, such as lack of autonomy, engagement, motivation, and passion.
But since much of this research has looked at employees in large organizations, we know less about what burnout looks like for other types of workers. We wanted to study a group that seems to be more susceptible to burnout: entrepreneurs. Read more.
How to Adapt in a Rapidly Changing Economy
This year has challenged entrepreneurs’ expectations for not just their companies, but for themselves. Hustle culture is being replaced with balance and flexibility.
Balance and flexibility might not sound like a winning business formula. This year has proven, however, that adaptability matters more than the ability to grind out a hard day.
7 Ways to Turn Your Dreams Into Reality
Dreams without action is a world of make believe. Consider the following.
- 96 percent of college professors believe they have above average teaching skills.
- 50 percent of high school students believe they will attend law school, medical school or grad school.
- Time magazine asked in a survey, “Are you in the top 1% of wage earners?” Nineteen percent said yes! And 36 percent expected to be.
A dream without a plan is soon exposed. Read more.
Restaurant Outlook for 2021: Uneven Recovery, but Better Days Ahead
If there’s one term that best describes COVID-19’s siege on the restaurant industry, it’s “uneven.” And 2021 promises to be just as strange and disjointed.
BTIG analyst Peter Saleh believes four major themes will define this coming year:
- Uneven geographic recovery
- Significant variations in unit growth across concepts
- Heightened investments in digital (more on that here and here)
- The growth of alternate restaurant formats (more on that here and here)
Regardless of where operators turn, they’ll find a shifting industry that won’t feel the same state-by-state, market-to-market and from one segment to another. If anything, that will be COVID-19’s signature and one that will be felt for years to come—the divergence of sectors, blurring of models, and shattered or accelerated trends that had no choice but to gain speed in the wake of dine-in restrictions. Read more.
“Good is somebody who delivered and allowed the company to overcome obstacles, without leaving a profound impact on its culture. Great is somebody who leads his company to achievements and performance and value that nobody was expecting it had.”Carlos Ghosn
20 Lessons We Learned About Marketing in 2020 | Social Joey
Can you believe 2021 is coming up so quickly? If you’re reading this, we’re at least midway through December…meaning the new year is literally days away.
While most of us would like to put 2020 in our rearview mirror, even the most challenging year has lessons for us! That’s definitely been the case this year, which has been packed with challenges and lessons alike.
Before we leap into the new year, our Social Joey team wants to take a few minutes to reflect back on the year that was—and every single thing it taught us about marketing. Read more.
4 Steps to a Resilient, Success-Driven Mentality
Failing fast sounds simple enough, and it’s become a common mantra in the entrepreneurial space. This mentality affects more than just entrepreneurs, though. Many people preach the power of failure—swift, forward or otherwise—as the key to future success. It’s become a rite of passage these days, where you must flounder in order to prove yourself.
I don’t dismiss the learning experiences and growth that comes from past failures, but I believe it’s much more beneficial to highlight past successes. From a mentality perspective, I can’t stress enough how important it is to approach things with a resilient, success-driven mindset. Letting thoughts of failure creep into your goals and aspirations isn’t productive. Read more.
Aging Could Be the Next Booming Business
Those over 50 account for more than one-third of the U.S. population, half of all consumer spending, and 83% of household wealth. That should make catering to the aging population a lucrative opportunity for entrepreneurs and investors—one that could be akin to investing in the software boom in the 1980s or internet in the 1990s.
That was the takeaway from aging experts and investors at a virtual panel discussion on Monday at the 2020 Century Summit held by the Longevity Project and the Stanford Center on Longevity. Read more.
Small Business Start-Up Funding Options
Over 17,000 entrepreneurs just like you have received $4+ billion in start-up funding through Benetrends Financial. With multiple small business funding options available – from tax-deferred and penalty-free financing through 401(k)/IRA accounts to SBA and conventional business loans – your dream of owning a small business is now a realistic goal. Learn more.