Business
Email marketing rules every small business owner needs to know
According to the Direct Marketing Association, the typical ROI (return on investment) for email marketing is about 4,300 percent. With that kind of effectiveness, it’s definitely a marketing activity worth considering for your small business. But before you blast out your first message, you need to know the rules. There are laws to protect people from unwanted email solicitation—you need to abide by the CAN-SPAM Act, the Federal Trade Commission’s rules and regulations for commercial marketing.
According to the FTC’s compliance guide for businesses, “It covers all commercial messages, which the law defines as ‘any electronic mail message the primary purpose of which is the commercial advertisement or promotion of a commercial product or service,’ including email that promotes content on commercial websites. The law makes no exception for business-to-business email. That means all email—for example, a message to former customers announcing a new product line—must comply with the law.”
If you fail to comply, you might find yourself paying a lofty fine. Each individual email in violation of the rules could penalize you up to $16,000.
Here are the FTC’s main requirements to keep in mind every time you create and launch an email marketing campaign:
- Do not try to disguise who is initiating the message by using false or misleading information in the “To,” “From,” and “Reply To” fields. Routing information (such as the domain name in the originator’s email address) must also be accurate so recipients know who is sending them the message.
- Do not use subject lines that are deceptive. You can be creative with subject lines to make them interesting, but don’t attempt to trick readers into opening your email by making them think the contents will be something other than what it is.
- Make sure that people know what you’re sending is an advertisement or a promotion if that’s what it is. In other words, don’t use a subject line like, “An Update On Your Account” or something similar that would lead recipients to believe you’re sharing information relevant to their accounts when instead you’re promoting a new product line.
- Provide your physical postal address (street address, P.O. box, or mailbox through a commercial mail service that follows U.S. Postal Service regulations.
- Let recipients know how they can stop receiving future emails from you. Include a direct and clear explanation of how they can opt out of your email list, and give them a return email address or another easy electronic way (like an unsubscribe link) to inform you that they don’t want to receive any more email messages from you.
- Act on opt-out requests as quickly as possible—you have 10 business days to honor recipients’ wishes.
- Make sure others doing marketing on your behalf are complying with the law. If you contract another company to manage your email marketing, you both bear legal responsibility for complying with the law.
Those points cover the main requirements of the CAN-SPAM Act, and we recommend you read the FTC’s compliance guide for more details to make sure your small business follows the rules.
For additional guidance and insight about marketing and other aspects of starting and growing a small business, contact the SCORE chapter near you.
Since 1964, SCORE “Mentors to America’s Small Business” has helped more than 10 million aspiring entrepreneurs and small business owners through mentoring and business workshops. More than 11,000 volunteer business mentors in over 320 chapters serve their communities through entrepreneur education dedicated to the formation, growth and success of small businesses. For more information about starting or operating a small business, call 1-800-634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org.
Business
Pitfalls: The Stepping Stones of Business Growth
Embracing Challenges on the Road to Success.
The journey of entrepreneurship is often romanticized, but the reality is laden with challenges and setbacks. For small business owners, the road to success is not just about innovation and strategy but also about navigating the myriad pitfalls accompanying growth.
The Inevitable Hurdles of Business Growth
Growing a business encompasses a range of activities that can quickly become overwhelming. Managing clients, balancing finances, meeting payroll demands, and continually finding new customers are just a few tasks that business owners juggle daily. These responsibilities, while crucial, often lead to stress and, sometimes, failure.
Understanding and Redefining Failure
The concept of failure is frequently discussed in entrepreneurial circles, but its true meaning remains elusive. Is failure quitting a job, abandoning a startup, or the inability to grow a business? The common perception of failure as a mark of personal inadequacy is a misconception. In reality, failure is an integral part of business growth, a step in the learning process.
Learning from Past Mistakes
Previous failures should not be a deterrent but rather a guide for future endeavors. The experience gained from past setbacks is invaluable in avoiding similar pitfalls in the future. The key is to recognize these challenges and strategically sidestep them.
Pitfalls as Opportunities for Growth
Pitfalls, while often seen as obstacles, are crucial for personal and business development. They force entrepreneurs to confront challenges head-on, fostering resilience, determination, and perseverance. Overcoming these hurdles enhances problem-solving skills and instills a sense of achievement and confidence.
The Multi-Faceted Role of Pitfalls
- Building Resilience and Determination: Each challenge faced and overcome bolsters an entrepreneur’s resilience and determination, qualities imperative for long-term success.
- Providing Learning Experiences: Pitfalls necessitate a reassessment of strategies and approaches, leading to valuable insights and improved methodologies.
- Motivating and Inspiring: Viewing setbacks as growth opportunities keep entrepreneurs motivated and focused on their goals.
- Developing Character and Integrity: Choosing to face challenges rather than succumb to them builds character and integrity, reinforcing a commitment to one’s values and objectives.
Growth: A Double-Edged Sword
While growth is essential, it is also an obstacle that must be managed. Striving for improvement often requires sacrifices, such as less leisure time or socializing. Recognizing that growth is not just a goal but a necessary part of the entrepreneurial process is crucial.
The Necessity of Growth
Growth is not only important for personal development but also for survival. Staying healthy and informed is as vital as achieving business milestones. Embracing growth as an essential component of success is key to a fulfilling entrepreneurial journey.
Success and Its Accompanying Failures
Success stories are frequently peppered with tales of past failures. The distinction lies in whether these setbacks are viewed as learning opportunities or as burdens to be carried.
The journey to business success is fraught with pitfalls, but these are not just obstacles to be overcome; they are opportunities for learning, growth, and character development. By embracing and learning from these challenges, entrepreneurs can pave their way to success, fortified with resilience, knowledge, and a deeper understanding of their journey.
Business
The Big Mac: A Tale of Tenacity and Tastiness
From Rebellion to Global Fame: Unraveling McDonald’s Bestseller.
Golden arches. A sesame seed bun. And that unforgettable special sauce. These are the symbols and flavors that dance in our minds when we think of the Big Mac. Not just a sandwich, the Big Mac has become an emblem of pop culture, with McDonald’s ringing up sales of over half a billion of these iconic burgers annually. But how did this global sensation come to be?
Our story takes us back to 1957, in the steel town of Uniontown, Pennsylvania. Here, franchisee Jim Delligatti, facing fierce competition from local diners serving “whopping sandwiches,” felt the standard McDonald’s fare was too skimpy for the hard-working steelworkers. His solution? A double-decker burger to rival all others. But as with all great inventions, Delligatti’s idea met resistance. Corporate leaders weren’t too keen on altering the tried-and-tested McDonald’s menu.
Despite the pushback, Delligatti’s vision didn’t waver. Ten years after he opened his first restaurant, McDonald’s relented, allowing him to introduce his sandwich masterpiece. The twist? Only current McDonald’s ingredients were permitted. Well, rules are meant to be bent, aren’t they? Delligatti procured sesame buns from a local bakery and concocted the now-legendary special sauce. The sandwich made its debut at a mere 45 cents, a small price for what was about to become a culinary legend.
Interestingly, the Big Mac wasn’t always known by its iconic name. Initial monikers like the Blue Ribbon Burger and the Aristocrat were trialed, but it wasn’t until advertising secretary Esther Rose christened it the “Big Mac” that the name truly stuck. The burger’s overnight success was clear to the powers at McDonald’s, who, recognizing the goldmine they had, rapidly launched the Big Mac across the country. As for the recipe for that delicious, tangy orange sauce? It remains one of the best-kept secrets in the fast-food world.
Today, the Big Mac stands as a testament to innovation, resilience, and a dash of rebellion. It reminds us that sometimes, going against the grain (or, in this case, the bun) can lead to delicious outcomes that stand the test of time.
Business
Mastering Time Management: A Guide to Prioritizing Life and Business
Balancing Personal and Professional Goals in a Busy World.
In an era where multitasking is often seen as a virtue, many find themselves overwhelmed by the sheer volume of tasks demanding our attention. From nurturing social media profiles to managing family and business responsibilities, the struggle to effectively allocate our finite resources—time, money, and energy—is a common plight. This article delves into strategies for maximizing productivity while maintaining a healthy balance between personal and professional life.
The key to effective time management lies in understanding the value of the present moment. Procrastination or misallocation of resources can lead to missed opportunities and decreased productivity. By focusing on what truly matters, you can ensure that your efforts are concentrated in areas that yield the most significant results.
Setting priorities is the cornerstone of this approach. Understanding what matters most is crucial, whether personal life, work, or family. This process involves making tough choices and accepting that nothing can be accomplished on the to-do list. It’s about quality over quantity, ensuring that the tasks you undertake are done well and have a meaningful impact.
One common mistake is overcommitting to tasks of lesser importance, leading to burnout and a sense of unfulfillment. The art of saying no, or at least not now, is an essential skill in time management. This doesn’t mean neglecting responsibilities but understanding the best time to address them.
For business owners and entrepreneurs, this means recognizing that while social media presence and marketing are important, they should not come at the cost of core business operations or personal well-being. Similarly, family time and personal hobbies are crucial for a well-rounded life and should not be sacrificed in the pursuit of professional success.
Effective planning is another critical aspect. By setting realistic goals and breaking them down into manageable tasks, you can avoid the overwhelming feeling that comes with looking at a mountain of responsibilities. This approach also allows for more flexibility, accommodating unexpected changes or emergencies.
Time management is an ongoing process that requires regular reassessment and adjustment. It’s about finding a balance that works for you, allowing you to enjoy the fruits of your labor in your personal and professional life. By setting clear priorities, planning effectively, and staying focused on what matters most, you can maximize your productivity and satisfaction, leading to a more fulfilling life.
Business
Cable TV’s Uncertain Horizon: Disney-Charter Standoff Reveals Industry Fractures
Tensions Flare Between Powerhouses in the Face of Streaming Era.
Cable TV, a household staple for decades, may be facing its twilight years. The recent and very public disagreement between entertainment giant Disney and Charter Communications, America’s second-largest cable provider, paints a picture of an industry grappling with change, competing interests, and the undeniable influence of streaming.
Historically, Charter had forked out billions to Disney, ensuring their subscribers had access to Disney’s range of linear channels. But the tide shifted. During recent contract negotiations, Charter put forth a proposal: If their subscribers were already paying a premium for Disney’s content through cable TV packages, shouldn’t they also gain complimentary access to Disney’s apps, like Disney+ and ESPN+? Disney wasn’t having it. The result? An impasse over a $2.2 billion carriage fee, leading millions of Charter’s cable subscribers to lose their beloved channels, including ESPN and the Disney Channel.
To some, it’s not just a contract disagreement but a symptom of a larger rift in the television industry, a sign that the once-stable ground of the $200 billion TV sector is showing cracks. The landscape is evolving. Content creators, in a bid to maintain their audience, are venturing into creating streaming platforms. Disney’s venture into the world of streaming, for instance, resulted in a loss of $512 million in the third quarter. Warner Bros, too, wasn’t spared and reported a loss of nearly two million subscribers in just three months.
While content programmers view carriage fees from cable networks as vital revenue streams, cable distributors, on the other hand, see it differently. To them, these fees are fueling programmers’ race to erect streaming platforms – platforms that are perceived as threats to the very essence of cable. A staggering 2.3 million individuals bid farewell to their cable TV packages in the first quarter of 2023. These numbers are reminiscent of 1992, hinting at a full-circle moment for the industry. In the span of ten years, more than 40 million U.S. homes opted out of cable, with a significant chunk moving to streaming platforms.
When two titans like Disney and Charter lock horns, it’s more than just a corporate feud; it’s an indication of a shifting terrain. Cable TV, once the crown jewel of home entertainment, might find itself in a battle for relevance. With streaming’s rise and the deep-seated conflicts between content creators and distributors, one can’t help but ponder: Will cable TV, as we know it, eventually fade to black?
Business
Skyrocketing Salaries: The Price Tag of College Football Glory
From Modest Figures to Multi-Millions: The Evolution of College Coaching Paychecks.
College football has always been a game of grit, determination, and passion, both on the field and off. Over the years, it’s not just the game’s popularity that has soared but also the compensation packages offered to the men leading these athletic warriors. The soaring paychecks of college football coaches paint a telling picture of how high the stakes have become in the chase for college football supremacy.
Once upon a time, in the mid-90s, coaches in the esteemed Big Ten Conference were drawing an average base salary of a modest $132,800. Fast forward to 2022, and we’re talking figures in the millions. The Big Ten’s lowest-paid coach is taking home a cool $4 million, while the top earner in the same conference boasts a staggering $9.5 million. And the Big Ten isn’t an outlier. Similar hefty salary figures are echoed in the SEC and other major conferences. The numbers are clear – coaching at the college level isn’t just a job; it’s a lucrative career.
Amidst this backdrop of opulence stands Jimbo Fisher, head coach at Texas A&M. His journey in the sport is nothing short of noteworthy. From guiding Florida State to a national title in 2013, likely ensuring his spot in the College Football Hall of Fame, to his transition to Texas A&M, Fisher’s story is peppered with achievements and controversies. His ten-year contract inked in 2017 with Texas A&M was a record-setter at $75 million. By 2021, negotiations pushed this figure even higher to an eye-watering $95 million over ten years.
While Fisher’s credentials are robust, guiding the Aggies to a 44-22 record (as of Sept. 28, 2022) and a notable top-five finish in 2020, questions linger. Texas A&M harbored hopes of national championship glory when they roped him in. Today, as aspirations clash with reality, many are left wondering: Can Fisher deliver a national title to College Station? Such questions might typically place a coach on shaky grounds, but Fisher’s situation is unique. With his contract fully guaranteed, Texas A&M could be looking at a mammoth $75 million bill if they decide to part ways with him.
For comparison, let’s look at Alabama coach Nick Saban, widely regarded as one of football’s coaching legends with seven national titles. Saban’s annual paycheck of $11.7 million is awe-inspiring, and his contract extends until 2030. Yet, were Alabama to sever ties, they’d owe him about $43 million – a tad over half of his contract’s remaining value. Fisher’s deal, in contrast, provides him with unparalleled security.
The world of college football coaching is glittering with both trophies and paychecks. As the game evolves and the pressure to win intensifies, universities are digging deep into their coffers. While success on the field is always the end goal, the financial realities off the field are becoming equally compelling narratives.
Business
Embracing Life Beyond the 9-5: How to Truly Live Every Day
A Modern Guide to Living Fully.
In an era where the daily grind overshadows the beauty of existence, the distinction between merely existing and genuinely living has never been more critical. With longer working hours and unyielding routines, many find themselves asking: Am I living or just surviving?
For countless individuals, life seems to have become a monotonous cycle of wake, work, sleep, and repeat. The fleeting moments of joy are overshadowed by the looming pressures of modern life. The fundamental problem? Many of us have forgotten the true meaning of “living life to the fullest.” But all is not lost; the first step towards a more fulfilled life is recognizing the need for change.
The essence of life is much more than routine tasks and societal obligations. The choices made daily – from eating habits to entertainment preferences – might seem trivial, yet they carry profound impacts on our future. While the challenges of abusive relationships or unfulfilling jobs can be daunting, one thing remains clear: Every individual has the power to choose their path. Every decision, be it perceived as “good” or “bad,” molds one’s destiny.
While dreams paint our aspirations, they risk remaining just that – dreams. Transforming these aspirations into concrete goals is vital. However, setting unattainable dreams can be just as perilous, making the once possible seem impossibly distant. The balance lies in dreaming big but grounding those dreams in reality, ensuring they inspire progress rather than stagnation.
True success and happiness lie in bridging the gap between dreams and reality. This entails moving beyond the safety of mediocrity, challenging oneself, and taking actionable steps toward one’s aspirations. Resources abound for those seeking guidance on this journey. Still, the path is neither short nor easy and demands resilience, adaptability, and an unwavering focus.
The secret to truly living is embracing life with both its highs and lows. By determining our true desires, setting actionable goals, and persistently working towards them, we can break free from the shackles of monotony and experience life in its full glory. After all, each day is an opportunity – an opportunity not just to exist but to live, laugh, love, and leave a legacy.
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