#AskPeshev 171: Entrepreneurial Pursuits

#AskPeshev 171: Entrepreneurial Pursuits

December 14, 2022

We're officially starting to wrap up the year! And what better way to begin the wrapup than with The Entrepreneurship Guide for 2023 🚀 As we put the spotlight on what drives and sustains entrepreneurial pursuits, we also explore certain aspects of the business that companies must ace to grow steadily, especially in these uncertain times.Celebrating with you,Mario My Take LinkedIn: The Entrepreneurship Guide for 2023Working on 2023 resolutions yet? If launching a new venture or pivoting into a side hustle is among the goals for the coming year, my Entrepreneurship Guide is here for you. Some of my best resources on the matter (along with a shameless plug to my book) are for aspiring startup founders. Also, I'm meeting some founders on Friday over a coffee - make sure you shoot some questions in the comments before that!Read more…

 Business Strategy 

  • DOW: 33,942 (-0.19%)

  • NASDAQ: 11,256 (-1.01%)

  • S&P: 4,001 (+0.26%)

*Economy numbers as of December 13th*

In the first of a series of practical guides for organizations on sustainability, Knut Haanaes, FrĂ©dĂ©ric Dalsace, and Jules Wurlod explain why any successful sustainability strategy needs to be underpinned by a solid business case. The vast majority of companies see sustainability as mission-critical, with climate change at the core of priorities, but far fewer have actually implemented sustainability strategies.Read more… Management 

  • CPI for all items: +0.1%

  • PPI for final demand: +0.3%

  • PPI for services: +0.4%

*Statistic taken from US Bureau of Labor Statistics November Final Reports *

Management Today: Recession Dilemmas: Should I Launch a Value Line?When prices rise and belts tighten, consumers look to make savings. The first casualties are those little everyday luxuries, the nice-to-haves which just have to go if the priority is keeping the heating on.Read more… Recruitment 

  • Tech Companies with Layoffs Q4 2022: 384 

  • Employees Laid off Q4 2022: 71,473

* Statistic taken from layoffs.fyi as of December 14th *CMSWire: How Good Is Your Marketing Strategy at Attracting Talent?Attracting the right talent is priority one in today’s jobs climate. Is your organizational marketing genuine? While we may be staring down an imminent recession, attracting the right talent is priority one in today’s jobs climate. Many sectors are still struggling to recruit. And when things go south, you’ll want the very best people in your corner. But will your employer brand make you the destination of choice?Read more…

 Breaking News đźš¨

  • President Biden signs Respect for Marriage Act, codifying federal protections for same-sex and interracial marriages nationwide

  • FTX Founder Sam Bankman-Fried has been arrested in the Bahamas after American authorities filed criminal charges against him

  • CVS and Walgreens agree to pay a combined $10.7 billion to settle allegations that they failed to adequately oversee opioid prescriptions, thus contributing to America’s addiction crisis

 Marketing 

  • Marketing Budget increase of surveyed companies: 64%

  • Companies with the top goal of maximizing omnichannel performance: 38%

  • Sales and revenue attributed to marketing: 35%

*Information is taken from Oracle’s “Marketing trends 2022” report*

In today’s all conducive and comprehensive world, brands and entrepreneurs are brainstorming and strategizing the optimum way to market their products. We live in an era where everything is available in an instant. The availability of information in a split second and access to multiple alternatives to the same commodity has fostered fierce competition.

 Sales 

  • PCE Consumer Spending in October 2022: 0.8% (+0.2%)

  • Personal Income in October 2022: -0.7%

  • International Transactions Q2 2022: -$251.1B

* Information taken from the US Bureau of Economic Analysis *

In an uncertain economy, it’s the small to medium businesses (SMBs) that often struggle the most. Right now, consumer behaviours are shifting due to inflation, supply chain delays, a focus on ESG and a potential recession on the horizon — all elements outside of a business’s control. This can ultimately impact your bottom line, with sales figures dropping and prospects going AWOL.

 Featured Story of the Week 

Who I was when I was still a teenager may have something to do with my pursuit of being my own boss, and my being an entrepreneur now. I was not a “born entrepreneur” but I definitely didn’t lack ideas and creativity along the way. I’ve always been curious and intrigued by the concept of solving problems. At the age of 9, I built my first static site, just around the time I got into programming in my effort to automate homework-solving activities (formulas and the like.)