Business Central Magazine
Table of Contents July/August 2020


CONTENTS      
GROW I NETWORK I PROFIT ♦ CELEBRATING 18 YEARS IN BUSINESS
       
President's Letter:   RISK ASSESSMENT 6
Editor's Note:   Rememberings 8
Top Hats:     17
Network Central:     20
       
  •  PROFIT
     
Cover Story:   AN INCREDIBLE RIDE   Simonson Lumber President Richard Hobbs is proud of his company's success, but his real passion is creating a culture of inclusion and respect.. 34
    COMMON MISTAKES  Whether you've been in business for years, or are just getting started, here are five business mistakes you'll want to avoid. 32
    DOING GOOD   It's not enough for businesses to do well. Communities only thrive when businesses do good at the same time. 40
       
 
  •  NETWORK
   
 
 
 
UPFRONT   Valuable and important information designed to guide and educate. 10
BUSINESS TOOLS   Useful tips and intelligence on how to continue to grow your business. 22
BUSINESS SPOTLIGHT:   Don Blonigen, Dijital Majik 46
 
  • GROW
   
     
ONLYONLINE:   Improve Your Zoom Meetings    
    Company Culture in 2030      
    10 Leadership tips to ignore      
    Satisfying Unhappy Customers
 
 
 

News & Events

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  • Live video and audio content can be repurposed for use across multiple social media channels.  It all begins with having a plan in place before you start recording, one that outlines the key points, promotional aspects, and opportunities you can maximize when repurposing your content.
    Source: socialmediaexaminer.com

  • When it comes to purchasing or leasing business equipment, the right decision depends on what works for your specific situation.  Conserve working capital vs. a balance-sheet asset?  Long-term investment vs. moving on to the newest technology?  Potential tax deduction vs. greater upfront costs?  As with any decision, researching your options and considering both pros and cons is the best way to determine what works best for your company.
    Source: Nav.com

  • You may have been conducting performance reviews for years, but in the era of COVID-19 everything has changed.  If half of your workforce is working remotely, how do you review their performance?  The Harvard Business Review has several suggestions, including reflecting on the purpose of the review, determining exactly what you're evaluating, and being compassionate.

  • Making a big decision can be paralyzing. Jobs, revenue, even companies can be on the line if you make a bad decision.  How can you learn to move forward without over-thinking a situation?  Look for the decision that both "thinks" and "feels" right and be prepared to adapt.  There's more to it than that, of course, but this process can help you get started.
    Source: Fast Company Online

  • COVID-19 Infects Consumer Confidence
    Like any good virus, the coronavirus spreads rapidly infecting both people and business, by Allison Bily and Lynn MacDonald, St. Cloud State University.
     
    Following are the sources used in this article, which first appeared in the November 2020 issue of Business Central Magazine.
     
    References
     
    Chetty, R., Friedman, J.N., Hendren, N., Stepner, M, and the OI Team, “The Economic Impacts of COVID-19: Evidence from a New Public Database Built from Private Sector Data.” Working paper. September 2020. https://opportunityinsights.org/wp-content/uploads/2020/05/tracker_paper.pdf
     
    Chetty, R. ET Now. “Coping with the Covid-19 Pandemic,” Interview with Raj Chetty. August 10, 2020. https://www.youtube.com/watch?v=byVeYOaCvoI
     
    Mankiw, N. Gregory. “The Covid-19 Recession of 2020,” forthcoming in Macroeconomics 11e. August 2020. https://scholar.harvard.edu/files/mankiw/files/covid-19_recession_of_2020_aug2020.pdf
     
    Data from: Opportunity Insights Economic Tracker, Explore the Data, National and MN data. https://tracktherecovery.org/. Accessed on September 20, 2020.

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