#AskPeshev 175: The Lifeblood of Business

#AskPeshev 175: The Lifeblood of Business

January 11, 2023

In a recent Twitter survey I initiated, I asked about the number one work challenge my followers are focused on for the next six months. Expectedly, over 50% are focusing on more sales and cash flow—and rightfully so, because as Sir Richard Branson put it: “Never take your eyes off the cash flow because it’s the lifeblood of business.”In this week's newsletter, let's talk about financial issues in most aspects of the business.Plus, it's time for my monthly business tips! Check it out ⬇️ Dive right in and let us know what another pressing point are you focusing on next 🚀 Mario My Take 5 Business Predictions for 2023 Following the Downward Spiral in TechIn 2022, one share of Meta Platforms Inc, the parent company of Facebook, Instagram, and WhatsApp, was traded at $378. Less than two months in, the technological juggernaut collapsed to under $89 a share — reaching the trading levels of 2015. But, Meta is not alone. The Nasdaq 100 took a 38% hit from its peak. Layoffs have followed suit across the titans of technology — with tens of thousands of employees losing jobs across Meta, Amazon, Microsoft, and Twitter alone. Heading into 2023, the future is tumultuous. What geoeconomic changes are about to resurface in the new year?Read more…

 Business Strategy 

  • DOW: 33,704 (+0.56%)

  • NASDAQ: 10,742 (+0.88%)

  • S&P: 3,919 (+0.70%)

*Economy numbers as of January 10th*

The UK economy isn’t looking too hot right now; soaring inflation and stagnant wages have led to a cost of living crisis for the ages. Leaders have welcomed the New Year with a sense of trepidation, with concerns about how they will be able to grow their businesses, while also retaining and attracting talent and saving on unnecessary costs.Read more… Management 

  • UK November inflation: 10.7%

  • Households with money for essential spending: 33%

  • Households able to spend freely: 5%

*Statistics and Forecasts taken from the Bank of England & NielsenIQ*

Bloomberg: UK Finance Firms Lead Europe in Push to Shrink Board Gender GapUK finance firms now have a higher proportion of women on their boards than their European counterparts, a rare boost for the City of London’s attempts to improve the industry’s diversity.Read more… Recruitment 

  • Tech Companies with Layoffs 2023: 50

  • Employees Laid off 2023: 20743

* Statistic taken from layoffs.fyi as of January 11th *Toggl: The True Cost of Hiring an Employee in 2023When running a business, it takes money to make money. You make spending decisions every day for the betterment of your company, and one of the most important decisions is people. The cost of hiring an employee is arguably one of the most expensive parts of running a business. While that may seem scary, people are the key enabler to business growth and performance, so hiring new employees is a super-exciting process.Read more…

 Breaking News 🚨

  • Twitter blocks hashtags used to promote child sex abuse material

  • House Minority Leader Jeffries becomes the first Black person to lead a major party in Congress

  • FDA approves Alzheimer's drug shown in clinical trials to slow cognitive decline in patients in the early stages of the illness

 Marketing 

  • Popularity of email marketing among Millenials: 79%

  • Popularity of email marketing among Generation X: 67%

  • Popularity of email marketing all ages average: 70%

*Statistics taken fromStatista's "Popularity of email marketing among consumers in the U.S. 2022, be generation" *

As a financial service business, you’re facing a unique set of challenges when it comes to creating content. Finance isn’t a particularly glamorous or entertaining subject to write about, which can make it tough to engage your readers. There are heavy regulations and strict guidelines in Google results that limit what you can say, as well as how you can say it.

 Sales 

  • BMW AG: 90.49€ (+0.39%)

  • Mercedes Benz AG: 67.46€ (0.20%)

* As of January 10th *

BMW AG outsold rival Mercedes-Benz AG for the second year in a row by better navigating the supply-chain issues hampering global auto production. Worldwide deliveries of BMW-branded cars fell 5% to 2.1 million last year, edging out Mercedes, whose shipments slipped 1% to 2.04 million. While both brands grew sales in the final months of 2022, they couldn’t compensate for business lost during the first half, when parts shortages and the war in Ukraine crimped output.

 Featured Story of the Week 

I'm always excited to reset the month with another set of 6 business tips I'm personally focused on! And since goal-setting is so trendy in early January, if this is the first time you're stumbling upon the tips - welcome aboard! #tips #strategy #guide #business #askpeshev