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News of the day - Why April 22 is important and this is not a job!
Article of the Month - Finding the right management tool An audience of managers and owners was asked how many hours they worked each week. As answers were shouted, I remember the individual who thought they had won when they said, "80 hours each week". Much to this person's surprise, and many other people, the "winner" was the person working the least amount of hours. Let me invite you to read this month's article which could help you be the winner the next time we ask that question.Who is visiting Small Business Converations this month? - The April 22nd Small Business Conversation will be the start of our 12th year of hosting the widely syndicated program. We appreciate all of you that listen to the program by way of the live event; from the Profits Plus website; or through your favorite podcast service. Our guest for April is Dr. Frank Wood who will discuss with us what we refer to as "covid stress". Perhaps you have been experiencing what we have; businesses that have challenges and the pandemic has been their crutch as to why they cannot get things done. Most likely all of us have similar situations. Dr. Wood's expertise is not just how to deal with stress but how to thrive with stress. We call on Dr. Wood because we want more than some motivational speaker who is there to cheer us up. This is a real concern and Dr. Frank Wood is a real doctor with a specialty in stress. Find yourself a relaxing place and an enjoyable drink as we listen to his words of wisdom.Book of the Month - Thinking in Bets Years ago in school I remember a teacher who was having us look at many bad decisions made over the years. The situations ranged from George Armstrong Custer to Sears & Roebuck. "Given the information these people had at the time they made their decision, they made a wise choise. Only in looking at the situation after the fact do we see their decision was a poor choice" was how their decisions were explained. This may be OK in looking at history, but what about when we are in that same situation? This is why we are suggesting, "Thinking in Bets" by Annie Duke. The subtitle of the book says it all; "Making smarter decisions when you don't have all the facts".Internet Tool for Your Business - Gross Profit Percentage Gross profit percentage is a close relative of the gross margin on an item. The difference is gross profit percentage shows on your income/profit and loss statement while the gross margin is a calculation for an individual item. The math is the same. In non-math terms, you could look at your total sales as a pie.The first slice you cut is a big one as it pays for the inventory sold. What remains of the pie is your gross profit. Click on the link below to calculate yours.Staff Incentive for Your Business - Relaxing As our Small Business Conversations program for April is going to focus on relieving stress for you, we want to share an idea of what you could do for your staff. Perhaps you have a customer who could help. Schedule a time to invite someone who can give chair massages to your employees. Generally, these massages last about 15 minutes. It is a great way to show your staff your concern for their well being as well as your appreciation. We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.
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