Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.
Let’s dive into the day’s news: the differences between the way men and women run a business, important things to consider when making the leap from side hustle to full-time job and ways to protect your business from workplace violence.
Male and female business owners run their business differently, study says
When it comes to running a business, men and women have different outlooks on their company’s future, cash flow issues, attitudes towards technology and major funding sources. For instance, women seem to be less worried about payment process and cash flow issues, while men tend to place a higher importance on technology. Hmm…
The Number: 46%. In general, male business owners are inclined to place more of an emphasis on the role technology plays in the success of their business, with 46% of men responding that keeping up with technology is critically important.
The Quote: “Female business founders seem to be less worried about certain aspects of their companies’ payment processes than their male counterparts.”
Case studies: turning a side gig into a full-time job
Today, approximately half of all American reports having a side gig, and more and more people are looking for ways to turn their side hustle into their full-time job. SBOs who have successfully made the transition to self-employment point to a number of important considerations, particularly figuring out what type of personal and professional insurance you might need, the right price point to be competitive and ways to supplement savings for retirement income.
The Number: 81%. 8 out of every 10 people with a side gig are interested in making it into their full-time job.
The Quote: “You’d think having two business degrees and working at a marketing agency, you would easily succeed. You have to have the business, pricing and selling skills.”
Preparedness and planning key to protecting against workplace violence
While the statistics and new coverage of workplace violence and shootings are alarming, there are a number of things that business owners can do to protect themselves, their employees and their brand. Owners and managers must create policies and plans for such circumstances and employees should be taught early signs for spotting and reporting potential threats.
The Number: 394. In 2017, there were 394 workplace shootings in the U.S.
The Quote: “Experts agree that listening, compassion, counseling, and assistance can go a long way to diffusing difficult work situations.”