The day's top reads for small-business owners, as selected by our business experts, Rieva Lesonsky, Mike Michalowicz, Barry Moltz and Mike Periu.
Can Entrepreneurs Be Happy?
Is it possible to better manage your time to achieve maximum happiness? A study reveals the “optimally happy” day for an average person consists of 106 minutes of intimate relations, 82 minutes of socializing and 78 minutes of relaxing—but only 48 minutes on the computer, 36 minutes working and about half an hour of commuting. Conclusion: Either being truly happy while running a small business is impossible or entrepreneurs aren’t "average." [ScienceDirect]
Demand for Office Space Holds Steady
If you think you’re going to need more space sometime this year, you might think about finding office space now. Although nationwide the office vacancy rate is holding steady, hovering around 17 percent, in some cities the demand for space is quickly increasing. Rents are on the rise in San Francisco, New York, Houston and San Jose, California, where businesses seem to be on the rebound. If you’re looking for a bargain, check out Phoenix, Las Vegas, Detroit or Dayton, Ohio, which all had vacancy rates of at least 26 percent. [Reuters]
The Joke's on Them
The Google April Fools' jokes have been a remarkable way for the company to gain even more positive exposure. This year was packed with laugh-out-loud jokes. But the "shutting down of YouTube" was perhaps a misstep. It was salt in the wound for the recent (non-April Fools') shutdown of Google's RSS service. [Huffington Post]
Social Media Don'ts
"Just do it" may work for Nike, but it doesn't for social media campaigns. Too many business are just initiating social media efforts without any form of a strategic plan. The result is a mishmashed campaign that represents the brand itself as a mishmash. Go in prepared or be prepared to fail. [BizJournals
An Economic Change of Heart?
For the past two months, small businesses across the country have cut back on their borrowing. According to research by the Thomson Reuters/PayNet Small Business Lending Index, business owners just don't feel it's the right time to grow through borrowed money. Despite the trillions of dollars spent by the Federal Reserve to keep interest rates and record lows, it's clear that the problem isn't the cost of money but the concern that the sales won't be there to pay back what's borrowed.
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