Month: May 2020

7 Methods to Maximize Your Decision-Making

7 min read

Opinions expressed by Entrepreneur contributors are their own.

People make thousands of decisions a day. Some are small and insignificant, others are big and potentially life-changing. Managers, business owners, and leaders make substantially more decisions than the average person and are regularly faced with making high-stakes decisions. As a result, it’s common for leaders to suffer from decision fatigue, to fall back on comfortable decision-making styles, or to defer making big decisions. 

Yet, being an effective decision-maker is one of the most important skills for leaders to have. Good decision-makers positively impact the trajectory of their business and earn the confidence and respect of their teams. , the well-known management consultant and business author, often talks about the importance of decision-making. He advises that, “making good decisions is a crucial skill at every level” and has observed that “wherever you see a successful business, someone once made a courageous decision.” 

The good news is that there are things you can do to become a better decision-maker. Even if decision-making is an area of angst for you, something that you often put off, or something you struggle with, there things you can do to maximize your decision-making potential. Here are 7 proven methods that all business leaders should implement.

Related: Let Go of

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IRS Announcements Provide Guidance on Small Business Tax Issues and Tools

Note: The information on this page and links to which they point were prepared by the IRS. always suggests that small business owners refer to a trusted financial and tax advisor before making any financial decisions.

The Families First Coronavirus Response Act

Last month, the IRS issued an overview regarding tax credits that can be used to reimburse employers for the costs of providing paid sick leave and paid family and medical leave to employees unable to work because of the coronavirus (COVID-19). For more information, see the complete Families First Coronavirus FAQ.

Have a tax-related payment question? The may have the answer here.

Taxpayers within the small business community are reminded that the IRS regularly posts new and updated answers to the most frequently asked questions about Economic Impact Payments and the Get My Payment tool. Those who wish to know the status of their Economic Impact Payment are reminded to visit Get My Payment regularly.

Economic impact payments are still being sent by prepaid debit cards.

Some Economic Impact Payments are still being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.” Two sets of IRS frequently asked questions have also been updated to help taxpayers get answers about their payments, including those arriving on prepaid

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When Negotiating Term Sheets, How Much Is Too Much?

5 min read

Opinions expressed by Entrepreneur contributors are their own.

It was pounding rain outside my bedroom when my co-founder bursted through the door in a panic. He didn’t wait for my reaction to explain his ever pressing fear. 

“One of our investor leads is on the phone and he’s about to walk away. He said we were too aggressive! How do we save this?

I responded immediately: “What did we do? We asked way too much on the valuation, right?”

“I bid him up on price too much and he is just threatening to walk away. He is not even picking up the phone. He just periodically texts me now. It’s very scary.”

“Give it some time,” I responded. “Then, let him get in touch with you on his schedule. Make him want to come to you.” 

Although my co-founder and I quickly closed this particular deal in a matter of days, it shows how entrepreneurs can take a too far with investors and easily screw up a potential investment. 

The pandemic has historically upended the market. According to Techcrunch, anecdotal evidence indicates the venture market has either frozen in place or is barely limping along. Data from CB Insights bears this out, with seed venture deals down cumulatively 22 percent 

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Add it to Your List: Microsoft Lists Arriving This Summer

Microsoft has provided more information about its recently announced Microsoft Lists*, a feature that will soon be joining Microsoft 365’s productivity suite of software. With Lists, users can track issues, manage inventory, build out event agendas, report status, manage FAQs, and more.

When you write down a list of things you must recall, it can be a challenge just to keep up with that initial information. But if your list grows and changes and starts being added to by others, the list can soon grow out of control. That’s the type of challenge that Microsoft Lists solves, according to Seth Patton, general manager of Microsoft 365.

*Note: On April 21, 2020, Microsoft rebranded Office 365 to Microsoft 365 to focus it more towards the consumer and small business markets.

Some Features of Microsoft Lists

  • Web-based or mobile app | Lists can be created and shared using either a web browser or a mobile app. Information from both sources is constantly syncing.
  • Microsoft Lists and Microsoft Teams | Create a new list or embed an existing list directly in a Teams channel – enabling a side-by-side conversation.
  • Ready-made templates | Comes with preconfigured forms, views, formatting, and more. Or create your own.
  • Stay in sync | Customizable views, smart rules, and sharing.

Above | Miceile Barrett, Lists program manager, demonstrates

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10 Movies All Entrepreneurs Should Watch on Hulu

Opinions expressed by Entrepreneur contributors are their own.

As an , you’re constantly in need of inspiration and motivation to keep building your dream. We all know that books are a great way to fuel that fire, but when you’re in a need of a brain break, a good movie may be the next best thing.

When you’re feeling burnt out, movies can stimulate your mind and give you a boost of motivation and creativity. Pick the right movies to watch and you’ll broaden your horizons as you relax on your couch.

Related: 18 Movies Every Entrepreneur Should Watch

Here’s a list of the 10 best films available on that will offer some interesting ideas to chew on as you relax.

Parasite is a tale of two families in a symbiotic relationship. The Kims are a poverty-stricken family who cunningly place themselves in the service of the Parks, an obscenely wealthy household who have been unknowingly harboring strangers in their basement for years.

Key points: Parasite can be seen as a fable about economic equality, but if there is one lesson to take away, it’s that money doesn’t make you immune to misery.

This action-packed war-crime film chronicles the life of Yuri Orlov (Nicolas Cage), an immigrant from Ukraine who decides his route to success is through the

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What the Regime Uncertainty of the Pandemic Means for Entrepreneurs

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4 min read

Opinions expressed by Entrepreneur contributors are their own.

Major upheavals, such as an unexpected pandemic, cause shakeouts in markets. While virtually all businesses suffer, startups and are typically the ones to go under first. Because entrepreneurs have tight margins and small or no buffers, they suffer immediately and immensely when their cash flow is disrupted.

Entrepreneurship saves business

It’s true, yet what makes businesses survive dramatic is their entrepreneurial acumen. Big corporations may have the means to hold out longer but will be hopelessly out of sync with the market unless they adapt to the new situation. We have seen many examples of such entrepreneurialism lately, both in big business and opportunity-seeking entrepreneurial startups, from well-established alcohol producers shifting to producing hand sanitizers to offering drive-through coronavirus testing.

Related: 4 Ideas for Actually Pivoting Your Business Right Now

The for entrepreneurs is to focus on what they do best — entrepreneurship — or figure out how to best create value for consumers. Simply put, entrepreneurs are bearers of uncertainty because they are creators of tomorrow. When consumers change their behavior, good entrepreneurs quickly adapt, adjust, and try to meet them where they will be.

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