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How to Know When to Hire Your First Employee


Opinions expressed by Entrepreneur contributors are their own.

At some point as an entrepreneur, you’ll face a challenging decision: When is it time to hire your first employee? After incubating the idea of your startup. then deploying your resources and making it all happen, at some point you may realize it’s time to bring someone else in to help you achieve your vision and grow the business. It’s exciting, but at the same time, can be daunting. What if the new hire doesn’t work out? What if you hire too many people or too few?

Entrepreneurs are inherently self-starters and ambitious, and shifting responsibilities to new workers can be difficult – but it’s a necessary step for growth. A company needs support to grow and thrive. You can’t do it all on your own, which makes hiring employees — especially the early ones — a crucial step toward entrepreneurial success. Before you do anything, though, ask yourself: Is this the right time to hire?

Knowing when you shouldn’t hire

Before addressing best practices for hiring, it’s vital to recognize common pitfalls entrepreneurs face when starting to grow their workforce – that starts with knowing when not to hire. Similar to making big life decisions, you should avoid hiring employees out of anxiety or uncertainty. Your choices should be deliberate and strategic. Take a step back and reconsider hiring employees if you find yourself in the following situations:

You’re desperate

If you have more work than you can humanly handle and you just need to get another body behind a desk, it’s tempting to find someone right away. However, a hasty decision born of desperation is rarely a good one. Take the time to find the right person for the job.

You don’t have specific responsibilities for an employee

Unless you have a defined set of tasks and expectations for your new hire, do them a favor and don’t hire anyone. A new hire at this stage will rightfully be confused and ineffective. You may need help, but if you don’t know exactly what that help will look like, consider hiring a coach instead of an employee.

You’ll take anyone

If you’re lucky, the first applicant will be an absolute rockstar who can bring your business to the next level – but that’s not the norm. You’ll learn a lot about yourself, the applicant market and your own position by interviewing more candidates. The variety of skill sets on display can also hone your focus for what your future employee will do.

Hiring your first employee

Hire someone too early and you could have cash flow problems, a worker who has nothing to do and the added stress of management. Hire too late, and you could be inundated with work you can’t accomplish, which could lead to missing deadlines and losing out on business.

Finding the right moment to hire, therefore, can make the difference between a failed enterprise and a successful business. But how do you know when the time is right? The following tips can make this process a little less painful and provide options for making that first hire:

Start with a cofounder

If you’re a solopreneur looking to make that next step, bringing on an employee can be intimidating. Instead, hire a cofounder, or at least someone who thinks like one.When making that first hire, look for someone with cofounder potential and traits, such as complementary skills, similar values and vision, teachability, passion, emotional intelligence, flexibility and honesty. Your first employee will hopefully be one of your longest lasting and most knowledgeable.

Ask yourself: Will these tasks generate money?

It’s been said that the only two purposes of an employee are to: 1) make money for the business, or 2) save money for the business. If you’re confident a new hire will do at least one of those two things, go for it. In the early stage of a company, making money is more important than saving it. Typically, these early roles involve creating products (designers, developers, etc.), marketing products (growth hackers, content marketers, etc.) and supporting products (customer support, help desk, etc.).

Know your desired skill set

Before you search for an employee, you need to know what kind of candidate you’re looking for. It’s not enough to simply know that you “need some help” or “need a developer.” Get specific: You don’t want just a “developer.” You want a Javascript developer with GitHub experience able to create machine learning algorithms with educational applications, for example. The clearer your set of responsibilities are, the more effectively you can hire someone to fulfill those duties r.

Delay the decision by hiring a contractor

You may still be undecided over whether or not it’s time to hire. Don’t sweat it. Instead, test it. Try hiring a contractor with the same set of parameters you’re looking for in a full-time employee. The introductory hassle of onboarding a contractor is relatively low compared to that of hiring an employee. You can create a contract for one month, six months or a year. If it works out, you can transition this person into an official hire or look for a full-time employee.

The differences between hiring freelancers, contractors and employees

The major differences between freelancers, contractors and employees has to do with their relationship with the business owner. Freelancers and contractors are self-employed individuals, while employees are hired by the company. Freelancers and contractors typically set their schedules based on the needs of their clients and work out a payment schedule (typically upon completion of a job).

Employees, on the other hand, work the schedule established by the company and receive a regular paycheck on a schedule set by the company. As a business owner, you’re responsible for tax reporting on your payroll employees. But since freelancers and independent contractors are considered self-employed, they are responsible for reporting their taxes.

So what’s the best decision for your company? It depends on your needs, your resources and your ambitions.

When should you hire a freelancer?

Some people use the terms “freelancer” and “contractor” interchangeably, but there is a difference in the type of professional you are hiring. Freelancers usually work on smaller, short-term projects, while contractors work on larger, more long-term projects.

Freelancers are great options for specific support — for example, bringing on a digital marketer to get your social media up and running. If you’re not financially ready to bring on full-time employees for whom you have to provide employee benefits, a freelance relationship may be a better setup.

When should you hire a contractor?

Contractors generally come with a team of expert professionals who can get you the help you need, whatever it may be. They can handle specialized projects, such as IT, remodels, design and consulting. As your business grows, financial consultants can keep you on track with your financial goals. If you need highly specialized work that requires a team, contracting a company will ensure the job gets done right.

When should you hire an employee?

Not every company needs a large number of employees, but if you hold frequent meetings, rent an office space or interact with customers, you’ll want reliable employees to help support the business. Remember, just because someone looks good on paper doesn’t mean they’re a good fit for your business. They must fit into your company’s culture. Consider bringing on full-time staff if they can make you more money or improve the customer experience.

Why hiring globally might be your best move

The growing popularity of remote work has meant dramatic growth in the pool of available talent. Don’t limit yourself to just domestic workers, though. By hiring workers outside your country, you can save money, increase efficiency and still provide customers with superior service. Consider the following benefits to hiring globally.

A wider talent pool

As unemployment levels drop, the demand for skilled workers rises — especially for roles in software engineering or data science. By looking past your own borders, you can grow your pool of potential employees and have access to a wider swath of workers. For example, Poland, Slovakia and India are renowned for their pool of highly qualified tech professionals available to work remotely for international companies. Tap into this talent network to find the right fit for your company.

Cost efficiencies

Hiring overseas means access to employees who live somewhere with a much lower cost of living, which generally means lower salary expectations. The requirements for compulsory employer contributions and payroll taxes that increase business costs also vary by country. For example, countries like Germany and Japan generally require that employers deduct a certain amount of the employee’s pay for health insurance. But Australia and New Zealand, with public healthcare systems, do not require such employer insurance contributions.

Access to resilient international markets

If you run a growing, ambitious business, you may be eyeing overseas expansion. One of the biggest factors in your success will be having employees familiar with that market. You have a few options for growing an international presence: set up a local entity or subsidiary (abiding by local employment laws) or use an Employer of Record (EOR) solution, in which you designate a third-party company to handle payroll, HR compliance and employee tax withholding.

Compliance benefits

Employer compliance can vary depending on the country, and some are more strict than others. Whether you’re concerned about at-will employment, parental leave allowance or pension contributions, you can hire from countries whose labor laws align with your needs.

24/7 customer support

Customers expect fast and capable support, no matter where they’re based or when they contact the company. With just 9% of customers able to solve business queries on their own, customer service channels are more important than ever. Having staff in multiple international locations and time zones ensures someone will always answer the support line and provide 24/7 support for your customers.

Before you hire globally, though, you should look into any logistical challenges it might create. Despite the many benefits, hiring international talent can lead to internal communication challenges, scheduling conflicts across time zones, cultural differences, and discrepancies in pay scales. While these challenges can be overcome, they’re worth considering before building a continent-spanning workforce.

Related: 10 Pros (and Cons) of Hiring International Employees

Can college students solve your employee needs?

Different hires provide varying solutions for business, and hiring college students can infuse your company with young energy and ambitious workers. Whether you develop an internship program or employ them part time or seasonally, college students are often more affordable to hire than full-time employees and can support your team’s specific needs.

Creating a pipeline between universities and your business could be a worthwhile investment. Students are trying to get their foot in the door, and they can also provide your company with much-needed help. Here are a few benefits of hiring college students:

They bring fresh perspectives and new ideas

College students are at a unique stage in their lives and are just beginning to form professional identities. Eager to develop skill sets and apply classroom lessons in the professional world, they often bring welcome new perspectives to the table. This can be especially valuable in industries that are constantly changing or in need of innovation.

They’re highly motivated and ready to learn

The most ambitious college students are proactive and eager to take on new challenges — both promising traits for future employees. When you empower college workers, they’ll go above and beyond to learn and contribute to your organization. Additionally, young people are generally tech-savvy and comfortable with digital tools and platforms — a huge asset in today’s business landscape.

They’re cost-effective employees

Because school is the main priority, students are often willing to work for less pay than more experienced candidates; they’re also more open to part-time or internship positions, helping small businesses bring in new talent without breaking the bank. These internships can act as trial runs for potential full-time employment.

How to attract and hire the best salespeople

Just about any business needs persuasive salespeople. In order to sustain and grow your company, you need someone who can bring in new clients while you focus on the business itself. No matter what role someone in your company fulfills, everyone does some kind of selling on a regular basis — pitching investors or bankers, selling coworkers on a new project idea or vision, providing customer service, negotiating with vendors, etc.

Ultimately, though, it will be your sales team that drives your company’s growth. If you want to add top-notch talent to this group and increase your revenue, keep these things in mind:

Your mission should be exciting and purposeful

What are you looking to achieve with your business? Most people these days are looking to join a company because of its mission — its goal to change the world in some meaningful way. According to a 2021 McKinsey study, 70% of Americans say work defines their sense of purpose. Your mission doesn’t need to save lives, it just needs to inspire workers and point to a larger goal. Find salespeople who buy into this mindset, and they’ll evangelize the company or product for you.

Be the best salesperson you can be

If you’re looking to hire salespeople, you should also know how to sell. You may get to a point in your business where you’re not the main person bringing in new clients, but you still have ideas you need to sell to investors, journalists or marketers — and your own team. When interviewing a potential candidate, pay attention to your own energy level. Are you charismatic? Are you enthusiastic about the position and the opportunity? When the interview is done, you’ll want the candidate to feel like they’re ready to jump on your bandwagon and get started right away.

Know what else you can offer

If you can’t compete in the market with a high salary, you can at least offer other incentives that attract top talent and keep your business afloat. Many employees are looking for better work-life balance. Can you offer a flexible work schedule? Consider offering profit sharing or a higher commission in the near future. If your product or services are innovative or revolutionary, that can also be an incentive, as employees are eager to join a business that’s about to rapidly expand.

The best recruiting platforms for small business hiring

When it’s time to hire, finding quality candidates doesn’t need to be complicated. Job search sites can help you recruit and retain talent no matter your company’s budget or size. Some companies advertise jobs across a variety of platforms, and the sites you choose will determine who applies for your open roles.

Similar to reaching a target audience, you want to meet candidates where they already are — think industry-specific forums, alumni networks or on social media. But there’s also value in casting a wide net and posting on major job boards with millions of visitors. With so many platforms to choose from, which will best support your mission? Here are some of the top recruiting platforms to consider:

ZipRecruiter

ZipRecruiter allows you to post job openings and receive applications from relevant candidates, as well as organize applicants in a resume database. Applicant tracking tools, including providing candidates with notes and feedback, also help you manage the hiring process.

LinkedIn

LinkedIn is particularly effective for recruiting candidates in the business, finance and technology sectors. To help you find and hire top talent in — and outside of — your network, it offers job postings, resume searches and applicant tracking.

Indeed

One of the world’s largest job search websites, Indeed allows you to search for candidates based on their location, experience and skills. It also provides rates for sponsored listings that prioritize your job openings in the search results.

Glassdoor

In addition to job postings, Glassdoor features reviews from people who’ve worked at various companies. By providing insight into a company’s culture and employee satisfaction, the site can help attract candidates to your open positions.

Workable

With affordable pricing plans and an easy-to-use interface, Workable is a recruiting platform that’s particularly effective for small- and medium-size businesses looking to streamline their hiring process. It offers a variety of features, including job postings, applicant tracking and candidate sourcing.

Writing job advertisements to attract remote workers

The pandemic ushered in a widespread adoption of work-from-home policies that may be here to stay. These policies allow for more flexible working situations, and they’re an excellent way for businesses to stay competitive in the job market.

When writing your job advertisements, keep in mind it’s still just a listing, so you need to effectively communicate the benefits of working remotely and the job requirements. Consider the following tips for writing job advertisements to attract remote workers:

Communicate the remote nature of the job

Specify that the job is a remote position and include details about the type of work environment and equipment that will be required. Does this person need to work certain hours or be in a certain time zone? Spell everything out. If the job advertisement doesn’t say remote up front, many people will assume that it’s not.

Highlight the benefits to employees working remotely

Make it clear that the job offers the flexibility and autonomy of working remotely. Mention any perks or benefits that come with the position, such as a flexible schedule or the ability to work from anywhere.

Clearly outline the job requirements

Your job advertisements should clearly state the skills, experience, and qualifications that are required for the position. This will help you attract the right candidates and weed out those who are not a good fit.

Use language that resonates with remote workers

Use language that speaks to the realities of working remotely. For example, mention the ability to work from anywhere or the need for strong self-motivation and discipline. Also mention skills necessary for collaborating remotely, such as clear and concise communication.

Include information about your company culture

Whether in-person or working remotely, employees place a high value on company culture. In fact, this may be even more crucial in a remote environment, where your only coworker interactions are happening in chats and on video calls. Include information about your company’s values and mission in your job advertisements to help attract candidates who are a good fit.

It’s time to start hiring

By following these tips, you can make the most effective hiring decisions for your business. Keep in mind: no two companies are the same. Before you make a hire — or post a job, for that matter — consider the work you need done, the kind of worker you need to complete it, and where that person should be located. By outlining your needs early, you’ll save money (and headaches) in the long run.



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Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.


Opinions expressed by Entrepreneur contributors are their own.

Not every business can be franchised, nor should it. As the founder and operator of an exciting, new concept, it’s hard not to envision opening a unit on every corner and becoming the next franchise millionaire. It’s a common dream. At one time, numerous concepts were claiming to be the next “McDonald’s” of their industry.

And while franchising can be the right growth vehicle for someone with an established brand and proven concept that’s ripe for growth, there are other options available for business owners who want to expand their concept into prime locations before their competition does but who don’t want to go it alone for a number of reasons. For instance, they may not have the resources or cash reserves to finance a franchise program (it is important to note that while franchising a business does leverage the time and capital of others to open additional units, establishing a franchise system is certainly not a no-cost endeavor). Or they don’t want the responsibilities and relationship of being a franchisor and would rather concentrate on running their core business, not a franchise system.

Related: The Pros and Cons of Franchising Your Business

But when you have eager customers asking to open a branded location just like yours in their neighborhood, it’s hard to resist. You might think: What if I don’t jump on the deal, and I miss out on an opportunity that might not come around again?

Licensing your intellectual property, such as your name, trademarks and trade dress, in exchange for a set fee or percentage of sales is one way to accomplish this without having to go the somewhat more laborious and legally controlled franchise route. Types of licensing agreements range from granting a license to allow another entity to manufacture or make your products to allowing someone to use your logo and name for their own business. Unlike in a franchise, your partner in a licensing situation will only be allowed certain predetermined rights to sell your products and services, not an all-in agreement to give them a turnkey business, accompanied by training and support, in exchange for set fees. A licensing agreement spells out each party’s rights, responsibilities, and what they can and cannot do under the terms of the agreement. Having a lawyer draw up the paperwork is vital, as well as consulting with a trusted business advisor who has helped others along this path and can shorten your learning curve while protecting your rights. License agreements are governed by contract law as opposed to franchise laws. However, care must be taken: To ensure that you’re staying in your lane and not crossing over into franchisor territory, you’ll want your advisers to detail what you can and can’t do as a licensor.

For instance, a license agreement excludes you from being involved in the day-to-day operations of the licensee’s business. While having no oversight may sound like a relief, it can be a double-edged sword, especially for people who are used to controlling all aspects of their products or services. You won’t have to provide licensees with ongoing services, such as marketing materials and continuous training, but it also means you have no control over how they run their business, their product mix or even how they decorate their space. If you’re a type-A, this may be hard for you.

Most people are more familiar with trademark licensing with a third party because these agreements are big in the sports and entertainment industries, where a celebrity lends their name to endorse a product, whether it’s branded athletic wear or trendy foodservice menu items such as pizza, chicken, or even gelato.

Using a celebrity’s cache garners media attention you might otherwise never get. But not everyone who comes up with a great concept or product has the recognition that would allow them to attract famous business partners or endorsements, and rabid fans that follow.

There are other methods of getting your products in front of more consumers. Some coffee concepts, including Caribou for example, have created market saturation by both franchising traditional stores and granting licenses for nontraditional locations, such as airports, big-box stores, and college campuses. Others, on the other hand, like Starbucks, employ a combination of company-owned stores and licensees in high-traffic locations where a small kiosk can service a high-density population of shoppers. And, of course, bags and pods of these brands’ coffee blends are also sold in retail locations such as grocery stores.

Related: Startups Must Protect Their Trademark. Here’s How and Why

But again, here’s that cautionary note: If you go the licensing route for your products or services, be careful not to cross over into trying to direct the way that licensees do their business, from selecting locations to training employees.

While licensing or franchising may be valid business growth vehicles for many brands, additional business structures that can be considered include:

  1. Company-owned stores: Opening corporate locations using bank loans and/or the profits from already opened units.
  2. Dealerships or distributorships: In a distributor relationship, products are purchased from a manufacturer and then sold through local dealers.
  3. Agency relationships: These are similar to the relationships you’d have with dealers, but in this case, an agent or representative of your company sells your services to a third party. The important distinction to remember so that the relationship doesn’t cross over into franchise territory is that you, as the provider of the services, pay the agent (as an independent sales rep) rather than the agent collecting the money and paying you.
  4. Joint ventures: In this case, you, as the concept owner, would take on an operating partner who also invests his own funds in the business. The two of you would then share in the equity and profits at the percentage rate of your investment.

The appropriate method to grow your business depends on several factors, including your type of concept, service, or products; your risk aversion factor; your access to capital; where you’re located; and current market conditions. So, if you choose another option to franchising, be cognizant of not slipping into becoming a franchise. The Federal Trade Commission’s regulations define a franchise as meeting at least three standards: a shared name, fees and royalty payments paid to the company by the franchisee, and ongoing support and control of the day-to-day operations by the franchisor.

Keep in mind that if you start with one expansion method, you can consider changing that structure with legal and professional guidance should your business needs merit a shift in strategy. Case in point: some licensors will eventually convert licensees to franchises under a newly crafted agreement and program if they see the need to change the fee structure and maintain additional control over operations.

Slow growth can be detrimental to a business, but not picking the right vehicle for that growth can be worse than standing still. That’s why doing your homework — consulting with professionals, such as attorneys, accounting and franchising advisors, and talking to others in the same boat as you will save you from drifting too far from shore.



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More Companies Are Rushing to Hire A Chief AI Officer — But Do You Need One? Here’s What You Need to Know.


Opinions expressed by Entrepreneur contributors are their own.

This spring, the U.S. government took an unprecedented step: requiring every U.S. agency to appoint a chief AI officer. This follows on the heels of companies across diverse industries adding similar roles to their leadership ranks.

This is a move in the right direction for companies seeking to integrate AI, but it’s not enough on its own. Yes, every company must become an AI company. But expecting a chief AI officer to get the job done alone is shortsighted.

When businesses are confronted with a major technological shift, often their knee-jerk reaction is to stick with what they know: Putting a new executive in charge and hoping they can solve everything. But for AI to truly take root in a company, people at all levels of the business need to get their hands on it and start innovating, not follow orders from a gatekeeper in the C-suite.

In fact, the fastest way to integrate AI into a company, in some instances, maybe to skip the chief AI officer role altogether.

Related: The Future Founder’s Guide to Artificial Intelligence

Why having a chief AI officer might not make sense

Companies appointing a chief AI officer have good intentions as they seek to avoid getting disrupted by the technology. But they may not need this role, and any business adding it should assume that it’s temporary.

A useful comparison is the stampede in the middle of the last decade to appoint chief digital officers to oversee the digital transformation to internet and mobile technologies. In hindsight, that looks quaint.

Experts pronounced CDO the next big executive title, but it often turned out to be little more than window dressing — especially when digital skills became table stakes for most employees. In recent years, companies have been ditching the role or folding it into other jobs. In digitally native businesses, it doesn’t exist at all.

Google, for instance, never had a CDO directing how employees use web technology. Instead, they empowered employees to explore tools on their own through initiatives like 20% time, setting the stage for innovations such as Gmail.

Likewise, AI-native companies don’t have an executive overseeing AI. That would be redundant. At companies like mine, the technology is embedded from day one across the organization rather than siloed in a single role.

By default, we all leverage AI. Our marketing team uses it to better understand our customer base, our engineers deploy it to help write code, and our customer support leans heavily on AI agents. AI is written into every role, much like digital literacy now is at nearly all companies. Of course, there are areas of our business where we could use AI more and better, but making that happen doesn’t call for a specific job title. It’s everyone’s responsibility.

A better way to usher in an AI transformation

But I realize that not every company is built from the ground up on AI. So, how can legacy companies make real strides in integrating the technology?

In place of the top-down response to organizational change, consider a bottom-up approach. For a company that wants to usher in an AI transformation, the first step is to look across the roles you’re already hiring for and pick a few where AI agents can do the job today.

Customer service is an obvious place to start — today’s AI agents can now address most issues at least as well as humans. AI sales development representatives (SDRs) are also making an immediate impact, automating much of the toil involved in pursuing prospects. Another promising area — junior data analyst roles, which often consist of pulling information from reports. Then there’s coding. Autonomous software engineering agent Devin and OpenDevin, its open-source rival, can step in here.

Choosing the right technology partner to provide AI tools is equally important. When it comes to customer service, for example, companies should look for a vendor whose AI agents have a track record of resolving most issues without human intervention. Rather than following a script, they should have some ability to reason, drawing on past interactions and the conversation at hand to determine the best solution for each customer’s unique problem.

Then, it’s important to treat your agents more like employees than like a piece of software that will work straight out of the box. Onboarding, measuring and coaching — the same steps you’d take to develop any new hire — are essential to get the most out of AI tools.

The upside here is having team members experiment with AI begins to build AI expertise inside the company. For example, my company works with a financial services firm where AI employee manager has become a key position. Former customer support specialists there now teach AI agents new skills that add value throughout the business — thus making themselves an indispensable member of the team.

Companies can even make driving productivity gains via AI a criterion for career advancement. To get promoted, an employee must show their manager how they’re applying AI to deliver results for the business.

Related: How Generative AI is Revamping Digital Transformation to Change How Businesses Scale

The next stage: Those departments grow into mini centers of excellence that spread AI knowledge and best practices throughout the organization. Team members educate the rest of the business on how to hire and coordinate AI labor. AI becomes integrated into day-to-day business operations in a way that’s hard to achieve with an exclusively top-down approach.

Of course, there’s no one best way to take a company through an AI transformation. For legacy industries and large enterprises, a tandem approach — combining top-down and bottom-up — may prove a better fit.

At the very least, organizations that want to get the transformation right should think about how they can help AI bubble up through the ranks, rather than just rush to hire a chief AI officer simply because others have taken that step. As AI permanently changes companies from top to bottom, it’s just a temporary solution.



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The Daily Beast’s Hiring a Full-time Lauren Sánchez Reporter


Lauren Sánchez has found herself in the public eye, thanks to her high-profile engagement to Amazon founder and billionaire Jeff Bezos — and now one national news outlet is looking for a specialized reporter to cover her every move.

The Daily Beast announced that it is looking to hire a full-time senior reporter to cover Sánchez and her daily dealings — from business to social to space.

“The Beast plans to cover tech moguls and their ecosystem, as part of the site’s return to its roots as a ‘smart tabloid,'” per Axios.

This follows trends of other publications, such as USAToday and the Tennessean, which have hired specialized Taylor Swift and Beyonce reporters in an attempt to make sure full coverage of the subject is reported.

Related: Lauren Sanchez Gives Vogue Details on Jeff Bezos Engagement

Not much is known about the specifics of the role, though Joanna Coles, the outlet’s new chief content officer, wrote on Instagram that she was accepting applications through [email protected], and told the New York Post that benefits and salary would be comparable to other senior positions listed at the company, which range between $100,000 and $200,000.

“I’ve never seen anybody land on the radar of Americans as fast and as brilliantly as Lauren Sánchez,” said Coles, who is the former chief content officer of Hearst Magazines. “I’m just very excited to find out all about her. There is no detail too small that I am not fascinated by.”

Sánchez is a licensed pilot and former TV anchor who is currently serving as the Vice Chair of the Bezos Earth Fund, which just announced it is donating $100 million to AI efforts that fight climate change.

Related: Lauren Sánchez Is Heading to Space on a Girls Trip

The Daily Beast did not immediately respond to Entrepreneur‘s request for comment.



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Keep Inspiration in Reach with Nix Color Sensor, Now $60 for One Week Only


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

When running a business, it’s important to keep your company’s branding in mind around the clock because you never know when inspiration might strike. For example, when choosing a color palette for your design materials, you don’t have to stick with whatever you come up with off the top of your head. Live with it. Go out in the world, and when you see the right colors, you’ll know it.

Now, to get the exact shade that inspires you, you’re going to need to show up at the paint store or on Photoshop with more than just “yellow.” That’s where a color-matching sensor comes into play. From April 15 through 11:59 p.m. PT on April 21, you can get the Nix Mini 2 Color-Matching Sensor on sale for just $59.97 (reg. $99).

This pocket-sized scanning device can scan any surface and match it to any of over 100,000 brand-name paint colors, as well as sRGB HEX, CMYK, and LAB colors. Once you scan a color, you can access the color details via the Nix Paints and Nix Digital apps available on Android and iOS devices. From there, you can take that information and use it to get the exact color you want for your branding materials.

Craft the branding of your company and your product to your exact specifications, and never stop perfecting it. Empower yourself with tools like this color-matching sensor, which is remarkably affordable.

From April 15 through 11:59 p.m. PT on April 21, you can get the Nix Mini 2 Color-Matching Sensor on sale for just $59.97 (reg. $99).

StackSocial prices subject to change.



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Grab Microsoft Project Professional 2021 for $20 During This Flash Sale


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

If you’re in charge of a business and you don’t have a clear understanding of how to approach projects in an organized and effective manner, that’s a problem. Like many leaders before you, consider leaning on software that’s designed to streamline the project workflow for companies representing a wide range of industries.

A rate that will only be available from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

This well-reviewed software comes with a range of pre-built templates that you can use to set your project off on the right foot. It supports a number of helpful functions like building complex schedules with varying timelines, auto-populating those schedules in instances where it can, and submitting timesheets that can be distinguished by project work and non-project work.

Some additional features of Microsoft Project Professional that can help entrepreneurs and their teams include what-if scenario generation capabilities. Microsoft Project Professional also allows you to sync projects on your local server with those online, which is massively helpful for remote teams.

Its comprehensive and well-curated offerings are part of why Project Professional is rated an average of 4.7/5 stars on the Entrepreneur Store.

Don’t miss this limited-time opportunity to make a worthwhile investment in your business for the price of a beer at the ball game.

A price that will only last from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

StackSocial prices subject to change.



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Get Your Business a One-Year Sam’s Club Membership for Just $14


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

It takes time for a new business to start earning a profit. The modern timeline, according to FreshBooks, is roughly two to three years before your business becomes profitable, but that’s not a guarantee. Make sure to spend those first years investing in your business when you can and cutting costs where it’s needed.

One expense to watch out for is the little daily costs that add up over time. Whether it’s office snacks, small appliances, or a myriad of other daily staples, you might be able to keep costs low by doing all your shopping at Sam’s Club. Your first cost-effective investment is the membership itself. For a limited time, you can actually get a One-Year Sam’s Club Membership for $14.

Shop for daily essentials at Sam’s Club.

Instead of dashing all over town or paying exorbitant shipping rates, see how much of your shopping you can get done at Sam’s Club. Skip the cost of catering and grab a few lower-cost items at the deli. Don’t wait for a paper delivery when you can potentially grab all sorts of office supplies at Sam’s. You may even be able to fill up the company car at a Sam’s Club gas station.

This membership also gives you access to the Sam’s Club catalog online. Search for great products you can get delivered to a Sam’s Club warehouse or directly to your door.

This one-year membership comes with auto-renew. After one year, it will renew for the full membership price, but you can turn that off at any time.

Invest in your business and get a Sam’s Club One-Year Membership for the lowest price ever, just $14 when you purchase through April 30.

StackSocial prices subject to change.



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Netflix’s financial report highlights the success of the streaming service


Netflix’s financial report highlights that 9.33 million subscribers have joined the streaming service.

Today, Netflix reported its first-quarter earnings report, and there is a lot for the content giant to be happy about. The company would open the report by saying “revenue was up 15%, our operating income grew by 54% and our operating margin rose by seven percentage points to 28%.”

Netflix Q1 Report

Netflix’s financial prowess was further underscored by its revenue of $9.37 billion, a figure that surpassed the $ 9.26 billion projected by analysts and industry experts. This translates to an impressive $5.28 of earnings per share, outperforming the anticipated $4.51.

Netflix’s report reveals a staggering 270 million subscribers across 190+ countries, with an average of more than two people per household. This translates to an audience of over half a billion people, a scale and ambition unparalleled in the entertainment industry. The report emphasizes, “to cater to such a vast audience, we strive to offer a diverse range of compelling stories that cater to various tastes.’

The improvement in subscriber numbers can be attributed to a crackdown on password sharing. Netflix has been determined to reduce the number of users who can access a singular account, so the surge in numbers could be attributed to that brick wall being in place, and those hoping to access their catalog will have to pay up.

Salaries were also capped by Netflix for executives. Still, according to the Hollywood Reporter Co-CEO Greg Peters, his annual compensation grew from $26 million last year to almost double the following year. So the streaming platform’s shareholders must be happy with this upward trajectory.

This SEC filing would include Peters’ base salary of $2.89 million, stock awards of $22.7 million, a bonus of $13.9 million and all other compensation totaling $620,602, which relates to use of the company aircraft.”

Image: Ideogram

The post Netflix’s financial report highlights the success of the streaming service appeared first on Due.



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Boost Efficiency by Eliminating Busy Work Now


Productivity means doing things smartly and efficiently. When you’re productive, you’re not just busy—you’re doing things that really matter. First, think about what you want to achieve. Then, make a plan to reach those goals. Being productive means using your time and resources wisely. So, stay focused, plan well, and avoid busy work to maximize your efforts.

Identifying busy work

Busy work is when you spend time and energy on tasks that don’t help you achieve your goals. Sometimes, we do helpful things but don’t make real progress.

Examples of busy work include talking about things that don’t matter, spending too much time on emails, or going to meetings that aren’t important. It’s like spinning your wheels – lots of action but not going anywhere. Instead, focus on activities that actually move you closer to your goals. That’s true productivity, not just being busy.

Using a time clock can help you keep track of how much time you spend on tasks. This can help you work faster and more efficiently.

Emails can be distracting. But you can avoid interruptions by setting specific times to check them. This way, you can focus better on important tasks instead of getting caught up in busy work. So, next time you’re working on something, try using a time clock and setting email-checking times. It could really help you be more productive.

Related: This Bad Work Habit Is Stealing a Shocking 72 Days of Your Time Per Year

Workplace productivity statistics

Did you know that the average worker is only productive for about 60% of their workday? That means a lot of time might be spent not getting much done. It’s even less for office workers – only around two and a half hours of real productivity each day.

When teams are engaged and work well together, amazing things can happen. Highly engaged teams have fewer problems, such as internal theft, absenteeism, and job turnover.

Surprisingly, social media can cost businesses a lot of money. Employees spending time on Facebook and other sites wastes billions of dollars annually. And those long, unproductive meetings? They’re taking up billions of hours, too.

Nowadays, it’s not just about being busy – it’s about having the right talent. Talented and right employees can change how much work gets done. In fact, they can be up to 400% more productive than average workers. The best ones can even complete difficult tasks super efficiently, sometimes reaching productivity levels that are eight times higher than normal.

Related: Wasted Employee Time Adds Up: Here’s How to Fix It

Key elements of productivity

Did you know that employees can be twice as productive when they are engaged in their work? When people feel connected to what they’re doing, they tend to work harder and get more done.

But there’s something else that can affect how productive people are: sleep. If you’re not getting enough sleep, it can make you less efficient at work. In fact, sleep deprivation costs businesses a lot of money – $63 billion every year. And it’s not just a few people – one-third of workers in the US aren’t getting the sleep they need.

Another thing that can distract people at work is the internet. When employees spend time online doing things like watching sports or shopping, their productivity can be cut in half. It’s important to stay focused on work tasks to get things done efficiently.

Turning busy work into productivity

To make sure your team is using their time wisely, it’s important to plan ahead and delegate tasks properly. Start by figuring out what needs to be done first, and then guide your team to focus on those tasks. This will help them stay on track and motivated.

If you notice your team spending too much time on the same things over and over, try finding ways to make those tasks easier. You could use software or tools to automate them or group similar tasks together to get them done more efficiently.

It’s also a good idea to break up the workday into smaller chunks and take breaks in between. This can help prevent burnout and keep your productivity levels high. Also, keeping the office tidy and organized can help reduce distractions and keep your team focused.

Besides, you can use tools like time clocks, to-do lists, and project management software. These can help your team stay organized and on top of their tasks. With the right planning and tools, busy work can become productive work in no time.

If you delegate tasks based on expertise, you’ll find less time wasted on busy work. Follow up by regularly evaluating workflow. Keep your team informed about fresh methods and tools; thus, you can support them in working more intelligently rather than just harder. Identify what needs improvement and be willing to make changes.

Related: 12 Factors That Are Fueling Your Workplace Mental Exhaustion

Tools to stimulate productivity

If you’ve ever used a legacy digital calendar to become better with time and more organized, you probably felt you were spending too much time entering and revising data. The latest digital calendars are equipped with AI-enabled solutions that memorize your schedule and take over booking, organizing, and updating events and meetings on your calendar. They also sync across devices and tools, enabling a more efficient and productive work process.

Cluttered inboxes are one of the most significant productivity roadblocks employees encounter. The best email management tools can categorize similar emails and give employees a variety of tools to manage them easily, quickly, and efficiently. They can block senders, delete multiple emails at once, or unsubscribe from emails automatically.

Final Verdicts

By organizing tasks, setting clear goals, and using helpful tools, you can turn busy work into productive work. You should plan well, divide tasks wisely, and stay motivated to succeed. With your effort and the right methods, productivity can increase, distractions can decrease, and work can be more efficient for everyone.



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Man Faces $70M Medicare Fraud Scheme Charges


A Mississippi man has been charged with multiple offenses relating to $70 million Medicare fraud by the Justice Department.

An indictment was unsealed in Tampa last week for Joel Rufus French, 46, who appeared when summoned in Oxford, Mississippi. The FBI Tampa Field Office and HHS-OIG are investigating the case.

Man charged with millions of dollars of fraud

French allegedly used bribes to obtain doctors’ orders to obtain unnecessary amounts of durable medical equipment (DME). The accused had also created a network of co-conspirators who received bribes and kickbacks in an elaborate scheme involving orthotic braces.

Initial court documents highlighted that French did not disclose his status or role whilst running multiple DME companies to Medicare. French would then use the fraudulently obtained doctors’ orders to allegedly charge Medicare for reimbursement to the tune of $70 million.

The release by the Department of Justice said the charges against French include “conspiracy to defraud the United States and to pay and receive illegal health care kickbacks, conspiracy to commit health care fraud and wire fraud, and conspiracy to commit money laundering.”

Health Care Fraud Strike Force Program of the Justice Department is composed of “of nine strike forces operating in 27 federal districts, has charged more than 5,400 defendants who collectively have billed federal health care programs and private insurers more than $27 billion.”

If French is convicted of these crimes he could face maximum penalties of twenty and five years respectively for each of the charges levied against him.

This would be one of three medical fraud cases that the Justice Department recorded this week. A New Jersey Doctor was sentenced for illegally distributing oxycodone and two other Doctors were sentenced for their part in a fraudulent drug testing scheme.

Image: Ideogram.

 

The post Man Faces $70M Medicare Fraud Scheme Charges appeared first on Due.



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