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You are here: Home / Link Roundup / PBO Link Roundup for August 18th, 2011

PBO Link Roundup for August 18th, 2011

August 18, 2011 By Jerod Morris

In today’s edition of the PBO Link Roundup: small business are now trying their hand at forex as a hedge; an intriguing article about the concept of “decision fatigue”; and, an important lesson for any business using Facebook.

Before we get to links to articles, here is a link to a contest being run by the Wall Street Journal that may interest some of you:

Introducing ‘Small Business, Big Innovation’

The recession that started in December 2007 dealt a crippling blow to U.S. small businesses.

Facing tough times, many entrepreneurs did something creative, imaginative or cutting-edge with their business models, which allowed them to survive and thrive. We want to hear your stories.

The WSJ invites eligible businesses to apply for The Journal’s Small Business, Big Innovation competition . Use our application form (deadline: Sept. 5, 2011) to tell us about the challenge your business faced; the innovative solution you put in place; and the significant milestone—such as vastly improved revenue or expansion into new markets—that has resulted since Jan. 1, 2009.

And here is an article from the WSJ as well:

Small Businesses Try Hand at Forex — WSJ

Efforts by small-business operators to crack the challenges of predicting currency movements certainly don’t come without risk. Trading currencies can bedevil even experienced traders. Currencies move largely on central bank rates, which provide the underlying yield of a currency. Expectations of what a central bank might do next requires some guesswork. Geopolitical events and purely technical-based trading can make currencies move suddenly. And knowing when to exit a position and secure one’s profits can be tricky in a notoriously volatile market. Transaction costs can be steep. Of course, smaller companies have more to lose if they bet wrong.

Do You Suffer From Decision Fatigue? — New York Times

Decision fatigue helps explain why ordinarily sensible people get angry at colleagues and families, splurge on clothes, buy junk food at the supermarket and can’t resist the dealer’s offer to rustproof their new car. No matter how rational and high-minded you try to be, you can’t make decision after decision without paying a biological price. It’s different from ordinary physical fatigue — you’re not consciously aware of being tired — but you’re low on mental energy. The more choices you make throughout the day, the harder each one becomes for your brain, and eventually it looks for shortcuts, usually in either of two very different ways.

The Big PR Lesson Companies Still Need to Learn about Facebook — Forbes

Corporate communications folks, listen up. Nestle fell on its social networking sword to teach you this lesson, but apparently you still haven’t learned: If people are posting unwanted links or information on your Facebook wall, you need to address it. What you emphatically do not need to do is shut down your wall. Or get pissy with Facebook “fans”. Or delete wall posts or comments. Or even worse, lie about deleting them.

© 2011 Generational Equity, LLC All Rights Reserved

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Filed Under: Link Roundup Tagged With: Big Innovation, business, small, WSJ

About Jerod Morris

In addition to producing the link roundups and managing the online promotion of the Private Business Owner, Jerod is also the founder and Managing Editor of Midwest Sports Fans and Primility.com, as well as the Director of Blogging and Social Media for Orangecast. Jerod interacts on Twitter avidly: @JerodMorris, so contact him there or via email at jerodmorris40 [at] gmail [dot] com. (And yes, he's on Google+ as well.)

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The Private Business Owner is an online publication sponsored by Generational Equity. PBO aims to provide useful tips and information that will improve both the lives and businesses of entrepreneurs, as well as provide valuable insight into the company exit process through bi-weekly M&A Digests.
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