Has your business ever gone through a crisis? If so, how did you react? We’re sure you would have done some things differently and if you haven’t had one yet, keep reading, because this week’s Trending on Thursday lays out a plan for conquering a crisis and emerging on the other side stronger than before. We’ve also got news of the latest big business deal and how it could effect you, as well as tips for having successful projects.
Keep reading for all the latest #smallbiz news and tweet us at @MarlinBusiness with your crisis communication tips.
- In big business news, Microsoft has snapped up LinkedIn for $26.2 billion in the largest acquisition in its history, betting the professional social network can rev up the tech titan’s software offerings despite recent struggles by both companies. The deal is Chief Executive Satya Nadella’s latest effort to revitalize Microsoft, which was viewed not long ago as left behind by shifts in technology. Mr. Nadella hopes the deal will open new horizons for Microsoft’s Office suite as well as LinkedIn, both of which have saturated their markets, and generally bolster Microsoft’s revenue and competitive position.
- Regardless of your company’s size, character or the industry it belongs to, no brand is immune to enduring a business crisis. The findings of a recent study indicated that 59 percent of business decision makers have experienced a crisis in either their current or previous company. And 70 percent of those companies go out of business within one year of that crisis. However, if and when one strikes, it does not mean your business is doomed to sink. With the right response, a brand can withstand the troubled waters and come out sailing smoother than before. Check out these three tips in a piece from Entrepreneur: respond quickly, answer honestly, and be accountable.
- For many people, starting a new project means excitement and fun. Others dread having to tackle a new process regardless of the opportunistic outcome. Either way, the success of a new project depends heavily on several factors including motivation, planning and resources. Kevin Daum at Inc. recently interviewed Izzet Bensusan, founder and CEO of Karbone, to find out what it takes to make a new project successful.
- When you own a small business, everyone wants to give you advice. And it comes from all kinds of sources: friends, family members, neighbors, social media connections, people you meet walking your dog. But many entrepreneurs have a bad habit of failing to listen to any advice, stubbornly sure of their own ideas and stuck in their ways of doing things. That’s not a recipe for long-term survival or success. Rhonda Abrams at USA Today detailed the seven people who have worthwhile insights and experience that can help you grow your business.
- While the ability of small businesses to obtain capital has improved in recent years, getting a traditional bank loan is still a tough obstacle, a new study finds. Research from Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet revealed that over the last four years, there has been a 13 percent increase in access to capital for small businesses. But most of that isn’t from traditional banks. Thankfully there are options, like Marlin’s Funding Stream, which provide alternative means for small businesses to get quick, easy revenue.