It’s safe to say Americans are pretty passionate about this year’s election cycle, but one group may be more concerned than most. Can you guess the group? If you said #smallbiz owners, then you’re on the right track. In this week’s Trending on Thursday’s roundup we discuss a poll that shows the future resident of Pennsylvania Avenue is currently the second-highest concern among #smallbiz owners. We’ve also got business lessons from an Army Special Forces veteran, an interactive map of the top U.S. cities to start a small business, and tips for spotting burnout.
Get your full #smallbiz news roundup right here and let us know why your city was perfect (or not so perfect) for starting your business.
- Are you stressed about the 2016 election? A new poll commissioned by Capital One (COF) Spark Business and conducted in the latter half of March found that uncertainty that comes with a new occupant in the White House is among the biggest worries of the nation’s small business owners, topped only by concerns about growing their own enterprises. More than a quarter of entrepreneurs ranked the latter as their primary worry for 2016, while 25 percent pointed to the upcoming presidential election. The poll consisted of 401 U.S. businesses with annual revenues of less than $10 million.
- In the new book The Art of Risk, journalist Kayt Sukel talks to several people who mastered their particular strategy to success. One of the most enlightening interviews is with Army Special Forces’ Mark Walters. At the time the book was written, Walters had served nearly two decades, involving highly intense combat and stressful, unpredictable situations. Damon Brown at Inc. came up with three big business lessons from their conversation, and they’re all about preparation.
- The best cities to start a small business may surprise you. This Fast Company article shares an interactive map of cities across the country from WalletHub, which crunched numbers from 16 metrics, including the five-year survival rate to office-space affordability to educational attainment of the local labor force. Some notable findings include: Miami has the most startups per 100,000 residents (246) and Irvine, California has the highest percentage of college-educated workforce. Check out the map to see how your city ranks.
- If your business is focused on a great idea, you’d better be sure that everything about your brand reinforces the core benefits of that idea. Most entrepreneurs and business owners already know this, but coming up with the idea is actually the easy part. There are plenty of idea people out there. What the business world lacks – and what will set a company’s idea apart from the others – is your ability to execute that idea. Michael Luscher, founder of POINT 3 Basketball, details why you should build your brand around a singular, great idea in this Entrepreneur piece.
- Even the best jobs can lead to burnout. The harder you work and the more motivated you are to succeed, the easier it is to get in over your head. The prevalence of burnout is increasing as technology further blurs the line between work and home. A Society for Human Resource Management (SHRM) poll found that “burnout from my current job” was one of the top reasons that people quit. Before you can treat and even prevent burnout, you need to recognize the warning signs so that you’ll know when it’s time to take action. Travis Bradberry at Entrepreneur has listed the top ten signs of burnout, which include health problems, negativity, and poor self-care.