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Smarter, shorter, and more focused podcasts help firm leaders turn listening time into a competitive edge. Accounting Influencers With Rob Brown Go PRO for members-only access to more Rob Brown. View the full article

Smarter, shorter, and more focused podcasts help firm leaders turn listening time into a competitive edge. Accounting Influencers With Rob Brown Go PRO for members-only access to more Rob Brown. View the full article

I’ve been traveling for close to twenty years. In that time, the airline industry has changed a lot. The use of points and miles has become widespread, round-the-world tickets have gone the way of the dodo, airlines have consolidated, and there has been an explosion of budget airlines. Over the last few years, the cost of airline tickets has steadily risen. They get more and more expensive while their prices often seem illogical. Since ticket pricing is an arcane and misunderstood subject, I want to take some time to explain why your airplane ticket costs what it does. A Look at the Airline Industry Ticket prices have increased over the decade for several reasons. For starters, the industry has consolidated a lot over the last few decades. Thanks to bankruptcies and mergers, there are now only three major alliance airlines (American, Delta, and United) in the United States. And, with the recent bankruptcy of Spirit and the merger of Alaska and Hawaiian, there’s even less competition outside the Big 3. In Canada, there are only two major airlines – WestJet and Air Canada. In Europe, Air France–KLM, British Airways IAG, and Lufthansa control the bulk of the market. (Though, thankfully, in Europe, there are lots of budget airlines to choose from.) As airlines have partnered up, merged, or gone bankrupt, there is little incentive to provide low fares to win your business. After all, when only one or two airlines are flying a route, airlines know you don’t have much choice. Less competition means higher prices. Secondly, the price of airline fuel has increased tremendously. Back in 2017, jet fuel cost $1.37 per gallon. In 2024, it is $6.49 per gallon! Airlines have simply passed that fivefold increase on to the consumer. Thirdly, airline taxes and security fees have increased a lot, adding to the cost of your ticket. Ever fly into London? Half the ticket price is made up of fees and taxes! Finally, demand fell following the 2008 recession, and to compensate, airlines reduced both the number of routes they offered and the frequency of their flights. Fuller planes mean more passenger revenue and fewer costs for the airline. That trend greatly accelerated during COVID. When COVID shut down global travel, airlines mothballed many of their older planes and laid off many of their staff. When travel restrictions were lifted and more people started flying again, they didn’t have enough planes or staff to return to a pre-COVID schedule. This decrease in the supply of flights, coupled with the surge in demand for travel, meant that airlines had little incentive to lower prices. According to Rick Seaney of Farecompare.com, “Before 2008, things were in favor of the passengers. After the 2009 crisis, the scale of justice tipped towards the airlines.” Taken together, a consolidated airline industry that is facing more costs is simply less likely to generally offer lower fares. How Airlines Determine Pricing Prices go up and down for many reasons. There are four major factors that drive prices are competition, supply, demand, and oil prices. Together, those four things affect something called “the load factor.” Airlines want to fill their planes and maximize profits, and they do this by calculating a plane’s load factor. Essentially, this is the percentage of seats sold on a flight. They want this number to be as high as possible. To get the highest possible load factor, airlines will constantly change prices based on the four categories above in order to get people to buy tickets. Airlines use dynamic pricing models and artificial intelligence (AI) to figure out the maximum value they can get for each seat. Have you ever wondered why airlines seem to callously raise their prices after a big event spikes demand? They aren’t. The AI is. All it sees is sky-high demand and adjusts accordingly to its programming. More demand = higher prices. These advanced computer systems constantly compare booking trends to past sales history, major events, concerts, sporting events, weather, and competitor behavior. They can look at consumer searching and booking behavior and process lots and lots of data and change prices on the fly (no pun intended) in hopes of getting the best price possible. All of this is why one day a flight may cost $100, then $400 the next, and then back to $100 the day after that. As people buy seats on a flight, airlines raise prices, and when demand falls (at a certain price point), they lower prices until fewer and fewer seats are available, then they will raise prices again. It’s a delicate balance designed to ensure maximum revenue. It’s why prices are cheapest for 5 AM flights, more expensive over the holidays, and through the roof during peak season or if there’s a major sports event in town. After all, you can’t add more seats to a plane, so all they can do to raise revenue is charge higher fares! It’s also why prices might change in seconds. It’s not because they are tracking your cookies, it’s because the AI is responding to real-time changes in seats. Think about it. How many booking companies are out there? Lots! All of them are reserving seats. Millions of people fly each day and, with limited routes, it’s easier to fill planes, so the AI doesn’t need to discount fares as much as it had to in the past. On a US domestic flight, there might be 10–15 different price points. If the load factor is low and demand is low, an airline will increase the availability of cheap fares. If the load factor is high and demand is high, the airline will raise prices. As Rick said, the airline is advantaged now. But it’s not impossible to find a cheap ticket. There are many, many ways to find cheap airfare. To avoid being the person who paid the most for their ticket, the main thing to do is to be flexible. Airlines are constantly changing prices to increase revenue, hoping to get people into the highest price buckets possible. “About three months before, airlines start to manage those bottom price points,” Rick says. That means airlines begin to look at historical trends and current seat sales to figure out whether they will release those really rock-bottom fares or keep prices high. If you’re booking inside a month, you’re playing into the airline’s hands. When your dates are no longer flexible, you’ll pay whatever they charge. To find out how to navigate this system and get a cheap flight, check out these articles I wrote: How to Get Cheap Flights How to Use Airline Credit Cards for Free Flights How I Search for Airline Tickets The days of cheap airfares are long over. They aren’t coming back, and the prices you see now are the new normal for airline tickets. They are simply going to cost a lot more, especially if you don’t find the sweet spot when prices are their lowest. But by understanding how tickets are priced, you can avoid being the person who pays the most. How to Travel the World on $75 a DayMy New York Times best-selling book to travel will teach you how to master the art of travel so that you’ll get off save money, always find deals, and have a deeper travel experience. It’s your A to Z planning guide that the BBC called the “bible for budget travelers.” Click here to learn more and start reading it today! Book Your Trip: Logistical Tips and Tricks Book Your Flight Find a cheap flight by using Skyscanner. It’s my favorite search engine because it searches websites and airlines around the globe so you always know no stone is being left unturned. Book Your Accommodation You can book your hostel with Hostelworld. If you want to stay somewhere other than a hostel, use Booking.com as it consistently returns the cheapest rates for guesthouses and hotels. Don’t Forget Travel Insurance Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are: SafetyWing (best for budget travelers) World Nomads (best for mid-range travelers) InsureMyTrip (for those 70 and over) Medjet (for additional evacuation coverage) Want to Travel for Free? Travel credit cards allow you to earn points that can be redeemed for free flights and accommodation — all without any extra spending. Check out my guide to picking the right card and my current favorites to get started and see the latest best deals. Need a Rental Car? Discover Cars is a budget-friendly international car rental website. No matter where you’re headed, they’ll be able to find the best — and cheapest — rental for your trip! Need Help Finding Activities for Your Trip? Get Your Guide is a huge online marketplace where you can find cool walking tours, fun excursions, skip-the-line tickets, private guides, and more. Ready to Book Your Trip? Check out my resource page for the best companies to use when you travel. I list all the ones I use when I travel. They are the best in class and you can’t go wrong using them on your trip. The post Why Your Airplane Ticket is So Expensive appeared first on Nomadic Matt's Travel Site. View the full article

To improve your closing rates, you need to master five vital techniques that can transform your sales approach. Building strong customer relationships through personalized communication is imperative, as is demonstrating thorough product knowledge to boost your credibility. Addressing objections effectively can deepen engagement and implementing regular follow-ups helps maintain momentum. Finally, leveraging technology for better tracking can provide invaluable insights. Comprehending these strategies can greatly impact your sales success, but how can you start applying them today? Key Takeaways Build strong customer relationships through personalized communication to enhance loyalty and closing rates. Demonstrate thorough product knowledge to establish credibility and trust with potential buyers. Address objections effectively by viewing them as opportunities for deeper engagement and understanding. Implement regular follow-ups, as most prospects require multiple attempts to close a deal successfully. Leverage technology, such as CRM systems, to track interactions and streamline communication processes. Build Strong Customer Relationships Building strong customer relationships is essential for boosting your closing rates and nurturing long-term loyalty. By using effective door to door sales techniques, you can establish trust and rapport with your customers. Remember, 70% of customers remain loyal to companies that offer consistent, personalized communication. Engaging in active listening helps you understand their pain points, which can increase your sales opportunities by 50%. Personalizing your interactions—such as recalling customer preferences—can greatly improve satisfaction, as nearly 60% of consumers value customized engagement. In addition, maintaining ongoing communication promotes loyalty, as 78% of customers prefer to stay connected with trusted brands. Focus on these strategies to build strong customer relationships that lead to repeat business and valuable referrals. Demonstrate Thorough Product Knowledge Strong customer relationships set the stage for effective sales, but demonstrating thorough product knowledge is what truly seals the deal. You need to understand your product’s features and how they uniquely benefit your customers. This not merely improves your credibility but additionally builds trust. Be prepared to answer common questions and share real-life examples of how your product has helped others. Familiarity with industry trends and competitors helps you position your offering as the best solution. Continuous education is essential; 70% of successful salespeople attribute their success to staying informed. Engaging customers with personalized insights shows your commitment to their needs, increasing your chances of closing sales. Feature Benefit Example Energy Efficiency Cost savings Reduced utility bills User-Friendly Design Easy to use Quick setup Durable Materials Long-lasting Fewer replacements needed Customizable Options Meets specific needs Customized solutions Excellent Support Peace of mind 24/7 customer service Address Objections Effectively Even though objections may seem like hurdles in the sales process, they actually present opportunities for deeper engagement with your customers. To address objections effectively, start by anticipating common concerns during your pitch. This proactive approach can lead to smoother conversations and a 20% increase in your closing chances. Listen actively and respond empathetically to customer worries, which cultivates trust and makes them feel valued. Employ the Feel-Felt-Found technique to relate to their objections by sharing similar experiences and demonstrating how others have benefited from your product. Viewing objections as chances for further discussion allows you to uncover valuable insights into customer needs, helping you tailor solutions that align with their requirements and eventually improving your close rate. Implement Regular Follow-Ups Implementing regular follow-ups is crucial for maintaining momentum in the sales process, as many prospects simply won’t convert after a single interaction. In fact, over 40% of salespeople give up after one attempt, whereas most prospects need at least six follow-ups to close a deal. For effective door to door sales, reach out within 24 hours to improve engagement and keep your offering top-of-mind. Personalize your messages by addressing specific customer needs, as nearly 60% of consumers prefer this approach. Establish a systematic follow-up schedule, utilizing CRM tools to track interactions. Following up with additional information or answering previous questions demonstrates your commitment to customer satisfaction, in the end building trust and boosting your closing rates. Leverage Technology for Improved Tracking Leveraging technology for improved tracking can greatly improve your sales process by providing you with the tools needed to stay organized and informed about your prospects. Utilizing Salesforce software centralizes customer information, tracks interactions, and effectively manages sales processes. Automated follow-up systems guarantee timely communication, increasing your chances of closing deals in door-to-door sales. Regularly evaluating strategies through data analysis helps identify performance trends for improvement. Sales Tools Benefits CRM Software Centralizes customer data Automated Follow-Ups Maintains prospect engagement Analytics Features Provides insights into behavior Frequently Asked Questions How to Increase Close Rate? To increase your close rate, start by building strong relationships with customers. Understand their needs and communicate the value of your product clearly. Don’t underestimate the importance of follow-ups; prospects often need multiple interactions before deciding. Use CRM software to track customer interactions and personalize your approach. Finally, regularly analyze your sales metrics to identify areas for improvement, ensuring your strategies evolve based on performance and feedback. What Is the 1 10 Closing Technique? The 1-10 closing technique involves you asking a prospect to rate their likelihood of buying on a scale from 1 to 10. If they score below 10, you can inquire about what would need to change for them to feel more positive. This approach helps uncover specific objections or concerns, encouraging a dialogue that allows you to address their needs effectively. It promotes collaboration, enhancing engagement and increasing your chances of closing the deal. What Is One Technique a Salesperson Can Use to Close a Sale? One effective technique you can use to close a sale is the Assumptive Close. This approach involves assuming the customer is ready to buy and asking questions like, “How many would you like to order?” By framing the purchase as a natural next step, you encourage commitment. This technique works well since it shifts the focus away from hesitation and reinforces the idea that making a decision is expected, making it easier for the customer to agree. Which of the Skills Are Needed to Ensure Effective Sales Closing? To guarantee effective sales closing, you need several key skills. First, comprehension of customer needs is vital; this helps you tailor your approach. Building trust and rapport makes customers more comfortable, increasing their likelihood of purchasing. You should furthermore prepare for objections, as persistence is often necessary. Communicating the value of your product, not just its features, is important. Finally, leveraging technology, like CRM systems, can improve your strategy and boost follow-up effectiveness. Conclusion By implementing these five crucial techniques, you can markedly improve your closing rates. Building strong customer relationships, showcasing product knowledge, effectively addressing objections, maintaining regular follow-ups, and leveraging technology are all vital components of a successful sales strategy. Each of these elements contributes to increased trust and satisfaction among customers, ultimately resulting in more successful deal closures. Prioritizing these strategies in your sales approach will lead to a more effective and efficient sales process. Image via Google Gemini This article, "5 Essential Salesman Techniques to Boost Closing Rates" was first published on Small Business Trends View the full article

To improve your closing rates, you need to master five vital techniques that can transform your sales approach. Building strong customer relationships through personalized communication is imperative, as is demonstrating thorough product knowledge to boost your credibility. Addressing objections effectively can deepen engagement and implementing regular follow-ups helps maintain momentum. Finally, leveraging technology for better tracking can provide invaluable insights. Comprehending these strategies can greatly impact your sales success, but how can you start applying them today? Key Takeaways Build strong customer relationships through personalized communication to enhance loyalty and closing rates. Demonstrate thorough product knowledge to establish credibility and trust with potential buyers. Address objections effectively by viewing them as opportunities for deeper engagement and understanding. Implement regular follow-ups, as most prospects require multiple attempts to close a deal successfully. Leverage technology, such as CRM systems, to track interactions and streamline communication processes. Build Strong Customer Relationships Building strong customer relationships is essential for boosting your closing rates and nurturing long-term loyalty. By using effective door to door sales techniques, you can establish trust and rapport with your customers. Remember, 70% of customers remain loyal to companies that offer consistent, personalized communication. Engaging in active listening helps you understand their pain points, which can increase your sales opportunities by 50%. Personalizing your interactions—such as recalling customer preferences—can greatly improve satisfaction, as nearly 60% of consumers value customized engagement. In addition, maintaining ongoing communication promotes loyalty, as 78% of customers prefer to stay connected with trusted brands. Focus on these strategies to build strong customer relationships that lead to repeat business and valuable referrals. Demonstrate Thorough Product Knowledge Strong customer relationships set the stage for effective sales, but demonstrating thorough product knowledge is what truly seals the deal. You need to understand your product’s features and how they uniquely benefit your customers. This not merely improves your credibility but additionally builds trust. Be prepared to answer common questions and share real-life examples of how your product has helped others. Familiarity with industry trends and competitors helps you position your offering as the best solution. Continuous education is essential; 70% of successful salespeople attribute their success to staying informed. Engaging customers with personalized insights shows your commitment to their needs, increasing your chances of closing sales. Feature Benefit Example Energy Efficiency Cost savings Reduced utility bills User-Friendly Design Easy to use Quick setup Durable Materials Long-lasting Fewer replacements needed Customizable Options Meets specific needs Customized solutions Excellent Support Peace of mind 24/7 customer service Address Objections Effectively Even though objections may seem like hurdles in the sales process, they actually present opportunities for deeper engagement with your customers. To address objections effectively, start by anticipating common concerns during your pitch. This proactive approach can lead to smoother conversations and a 20% increase in your closing chances. Listen actively and respond empathetically to customer worries, which cultivates trust and makes them feel valued. Employ the Feel-Felt-Found technique to relate to their objections by sharing similar experiences and demonstrating how others have benefited from your product. Viewing objections as chances for further discussion allows you to uncover valuable insights into customer needs, helping you tailor solutions that align with their requirements and eventually improving your close rate. Implement Regular Follow-Ups Implementing regular follow-ups is crucial for maintaining momentum in the sales process, as many prospects simply won’t convert after a single interaction. In fact, over 40% of salespeople give up after one attempt, whereas most prospects need at least six follow-ups to close a deal. For effective door to door sales, reach out within 24 hours to improve engagement and keep your offering top-of-mind. Personalize your messages by addressing specific customer needs, as nearly 60% of consumers prefer this approach. Establish a systematic follow-up schedule, utilizing CRM tools to track interactions. Following up with additional information or answering previous questions demonstrates your commitment to customer satisfaction, in the end building trust and boosting your closing rates. Leverage Technology for Improved Tracking Leveraging technology for improved tracking can greatly improve your sales process by providing you with the tools needed to stay organized and informed about your prospects. Utilizing Salesforce software centralizes customer information, tracks interactions, and effectively manages sales processes. Automated follow-up systems guarantee timely communication, increasing your chances of closing deals in door-to-door sales. Regularly evaluating strategies through data analysis helps identify performance trends for improvement. Sales Tools Benefits CRM Software Centralizes customer data Automated Follow-Ups Maintains prospect engagement Analytics Features Provides insights into behavior Frequently Asked Questions How to Increase Close Rate? To increase your close rate, start by building strong relationships with customers. Understand their needs and communicate the value of your product clearly. Don’t underestimate the importance of follow-ups; prospects often need multiple interactions before deciding. Use CRM software to track customer interactions and personalize your approach. Finally, regularly analyze your sales metrics to identify areas for improvement, ensuring your strategies evolve based on performance and feedback. What Is the 1 10 Closing Technique? The 1-10 closing technique involves you asking a prospect to rate their likelihood of buying on a scale from 1 to 10. If they score below 10, you can inquire about what would need to change for them to feel more positive. This approach helps uncover specific objections or concerns, encouraging a dialogue that allows you to address their needs effectively. It promotes collaboration, enhancing engagement and increasing your chances of closing the deal. What Is One Technique a Salesperson Can Use to Close a Sale? One effective technique you can use to close a sale is the Assumptive Close. This approach involves assuming the customer is ready to buy and asking questions like, “How many would you like to order?” By framing the purchase as a natural next step, you encourage commitment. This technique works well since it shifts the focus away from hesitation and reinforces the idea that making a decision is expected, making it easier for the customer to agree. Which of the Skills Are Needed to Ensure Effective Sales Closing? To guarantee effective sales closing, you need several key skills. First, comprehension of customer needs is vital; this helps you tailor your approach. Building trust and rapport makes customers more comfortable, increasing their likelihood of purchasing. You should furthermore prepare for objections, as persistence is often necessary. Communicating the value of your product, not just its features, is important. Finally, leveraging technology, like CRM systems, can improve your strategy and boost follow-up effectiveness. Conclusion By implementing these five crucial techniques, you can markedly improve your closing rates. Building strong customer relationships, showcasing product knowledge, effectively addressing objections, maintaining regular follow-ups, and leveraging technology are all vital components of a successful sales strategy. Each of these elements contributes to increased trust and satisfaction among customers, ultimately resulting in more successful deal closures. Prioritizing these strategies in your sales approach will lead to a more effective and efficient sales process. Image via Google Gemini This article, "5 Essential Salesman Techniques to Boost Closing Rates" was first published on Small Business Trends View the full article

Creating a business plan template is crucial for anyone looking to outline their business idea clearly and effectively. By following five straightforward steps, you can develop a thorough plan that covers everything from your executive summary to financial projections. Each step builds on the last, ensuring you address all critical components. Comprehending how to approach this process can greatly improve your chances of success, so let’s explore these steps in more detail. Key Takeaways Start with an Executive Summary that encapsulates your business’s mission, vision, and objectives in a concise format. Create a Company Description detailing your business purpose, history, and an inspiring mission statement. Conduct thorough Market Research to analyze target demographics, competitive environments, and market viability. Develop a Marketing and Sales Strategy outlining methods for customer outreach, pricing, distribution, and promotion. Include Financial Projections with revenue forecasts, cost structures, and funding needs for realistic financial planning. Identify Key Components of Your Business Plan Template When creating a business plan template, it’s essential to identify and include key components that will guide your business strategy effectively. Start with an executive summary that presents your vision, mission, and objectives on one page for quick reference. Next, include a company description detailing your business’s purpose and history, ensuring your mission statement is both inspiring and engaging. Conduct thorough market research to analyze target demographics and competitive environments, demonstrating market viability. Your marketing and sales strategy should outline methods for reaching customers, including pricing, distribution, and promotional tactics, with measurable goals. Finally, provide financial projections including revenue forecasts, cost structures, and funding needs, ensuring realistic financial planning. This is how to create a business plan template that works. Outline the Structure for Clarity and Navigation To create a well-structured business plan, you’ll want to organize your document into clear sections that guide the reader through your strategy and objectives. Start with an executive summary that encapsulates your business mission, vision, and key objectives, providing a quick overview. Next, divide the business plan into distinct sections such as Company Description, Market Analysis, Marketing Strategy, and Financial Projections. This structure facilitates easy navigation. Include a table of contents at the beginning, enhancing usability. Consistently use headings and subheadings to delineate topics, ensuring coherence throughout. Finally, make sure each section flows logically into the next, creating a cohesive narrative that effectively communicates your business strategy and goals. This is essential when learning how to write a business plan template. Develop Prompts for Each Section Developing prompts for each section of your business plan is crucial, as it helps you focus your thoughts and guarantees you cover all necessary aspects of your strategy. Start with a mission statement prompt: What’s the core purpose and values of your business? Next, create a product or service description prompt: How do your offerings meet your target market’s needs, and what makes them unique? For market research, ask yourself: Who’s your target audience, and what’re their behaviors and preferences? When conducting a competitive analysis, consider: Who are your main competitors, and what’re their strengths and weaknesses? Finally, for your financial plan, formulate prompts about revenue projections and funding requirements. For a thorough guide, check out how to write a business plan pdf. Design for Visual Clarity and Professionalism A well-designed business plan not just conveys your ideas but also reflects your professionalism and attention to detail. When you learn how to draw up a business plan, focus on creating a clean, organized layout. Use headings and subheadings to guide readers and improve readability. Select a professional font and maintain consistent sizes for a polished appearance. Incorporate visual elements like charts, graphs, and tables to present complex data clearly, making it easier to digest. Utilize bullet points and numbered lists to break down information into scannable sections, allowing quick comprehension of key points. Finally, choose a cohesive color scheme that aligns with your brand identity, ensuring your document is both visually appealing and professional. Review and Refine the Template for User Needs In the process of crafting a business plan template, it’s vital to continuously review and refine it based on user needs. Regularly solicit feedback from potential users to identify areas for improvement, ensuring the template meets their specific requirements. Incorporate user-friendly features like checklists and prompts that guide users through each section, enhancing usability. Analyze successful business plans to pinpoint common elements and best practices, integrating these for greater effectiveness. Make sure the template is adaptable for various business types and stages, allowing users to customize it to fit their unique situations. Conduct periodic reviews to incorporate industry trends and changes, keeping the template relevant and valuable. This is significant when learning how to create a business plan that truly works. Frequently Asked Questions How to Write a Business Plan in 5 Steps? To write a business plan in five steps, start by defining your mission and goals using SMART criteria. Next, conduct thorough market research to identify your target audience and competitors. Then, outline your products or services, highlighting their unique features and customer benefits. After that, create a detailed financial plan, including revenue projections and costs. Finally, summarize everything in an engaging executive summary to attract potential investors and stakeholders. How to Draw a Simple Business Plan Template? To draw a simple business plan template, start with a clear header that outlines the main sections, such as Executive Summary and Market Analysis. Use bullet points to encapsulate key information for each section, ensuring clarity. Include placeholders for financial data and specific goals to make future completion easier. Organize the template logically, beginning with broad overviews and moving to detailed strategies, as you leave room for appendices to support your plan. What Are the Five-Five Steps in the Business Planning Process? The business planning process involves five crucial steps. First, you’ll define your mission and set SMART goals to guide your direction. Next, conduct market research to understand your target audience, competitors, and trends. Then, develop a marketing and sales strategy that outlines how you’ll attract and retain customers. After that, create a financial plan detailing forecasts and budgets. Finally, outline your operational processes to guarantee efficient daily management and staffing. What Are the 5 Steps in Creating a Business? To create a business, start by conducting market research to identify your target audience and industry trends. Next, define your mission and objectives using the SMART criteria for clarity. Then, outline your products or services, emphasizing their key features and pricing strategies. Develop a marketing and sales strategy that details customer acquisition and promotional tactics. Finally, create a financial plan that projects revenues and expenses, ensuring you understand your profitability timeline. Conclusion Creating a business plan template in five easy steps guarantees you cover crucial components effectively. By identifying key elements, outlining a clear structure, developing prompts for guidance, designing for visual appeal, and refining for user needs, you establish a solid foundation. This structured approach not merely streamlines the planning process but likewise improves clarity for stakeholders. With a well-crafted template, you’ll be better equipped to adapt to changes and achieve your business objectives successfully. Image via Google Gemini This article, "How to Create a Business Plan Template in 5 Easy Steps" was first published on Small Business Trends View the full article

Creating a business plan template is crucial for anyone looking to outline their business idea clearly and effectively. By following five straightforward steps, you can develop a thorough plan that covers everything from your executive summary to financial projections. Each step builds on the last, ensuring you address all critical components. Comprehending how to approach this process can greatly improve your chances of success, so let’s explore these steps in more detail. Key Takeaways Start with an Executive Summary that encapsulates your business’s mission, vision, and objectives in a concise format. Create a Company Description detailing your business purpose, history, and an inspiring mission statement. Conduct thorough Market Research to analyze target demographics, competitive environments, and market viability. Develop a Marketing and Sales Strategy outlining methods for customer outreach, pricing, distribution, and promotion. Include Financial Projections with revenue forecasts, cost structures, and funding needs for realistic financial planning. Identify Key Components of Your Business Plan Template When creating a business plan template, it’s essential to identify and include key components that will guide your business strategy effectively. Start with an executive summary that presents your vision, mission, and objectives on one page for quick reference. Next, include a company description detailing your business’s purpose and history, ensuring your mission statement is both inspiring and engaging. Conduct thorough market research to analyze target demographics and competitive environments, demonstrating market viability. Your marketing and sales strategy should outline methods for reaching customers, including pricing, distribution, and promotional tactics, with measurable goals. Finally, provide financial projections including revenue forecasts, cost structures, and funding needs, ensuring realistic financial planning. This is how to create a business plan template that works. Outline the Structure for Clarity and Navigation To create a well-structured business plan, you’ll want to organize your document into clear sections that guide the reader through your strategy and objectives. Start with an executive summary that encapsulates your business mission, vision, and key objectives, providing a quick overview. Next, divide the business plan into distinct sections such as Company Description, Market Analysis, Marketing Strategy, and Financial Projections. This structure facilitates easy navigation. Include a table of contents at the beginning, enhancing usability. Consistently use headings and subheadings to delineate topics, ensuring coherence throughout. Finally, make sure each section flows logically into the next, creating a cohesive narrative that effectively communicates your business strategy and goals. This is essential when learning how to write a business plan template. Develop Prompts for Each Section Developing prompts for each section of your business plan is crucial, as it helps you focus your thoughts and guarantees you cover all necessary aspects of your strategy. Start with a mission statement prompt: What’s the core purpose and values of your business? Next, create a product or service description prompt: How do your offerings meet your target market’s needs, and what makes them unique? For market research, ask yourself: Who’s your target audience, and what’re their behaviors and preferences? When conducting a competitive analysis, consider: Who are your main competitors, and what’re their strengths and weaknesses? Finally, for your financial plan, formulate prompts about revenue projections and funding requirements. For a thorough guide, check out how to write a business plan pdf. Design for Visual Clarity and Professionalism A well-designed business plan not just conveys your ideas but also reflects your professionalism and attention to detail. When you learn how to draw up a business plan, focus on creating a clean, organized layout. Use headings and subheadings to guide readers and improve readability. Select a professional font and maintain consistent sizes for a polished appearance. Incorporate visual elements like charts, graphs, and tables to present complex data clearly, making it easier to digest. Utilize bullet points and numbered lists to break down information into scannable sections, allowing quick comprehension of key points. Finally, choose a cohesive color scheme that aligns with your brand identity, ensuring your document is both visually appealing and professional. Review and Refine the Template for User Needs In the process of crafting a business plan template, it’s vital to continuously review and refine it based on user needs. Regularly solicit feedback from potential users to identify areas for improvement, ensuring the template meets their specific requirements. Incorporate user-friendly features like checklists and prompts that guide users through each section, enhancing usability. Analyze successful business plans to pinpoint common elements and best practices, integrating these for greater effectiveness. Make sure the template is adaptable for various business types and stages, allowing users to customize it to fit their unique situations. Conduct periodic reviews to incorporate industry trends and changes, keeping the template relevant and valuable. This is significant when learning how to create a business plan that truly works. Frequently Asked Questions How to Write a Business Plan in 5 Steps? To write a business plan in five steps, start by defining your mission and goals using SMART criteria. Next, conduct thorough market research to identify your target audience and competitors. Then, outline your products or services, highlighting their unique features and customer benefits. After that, create a detailed financial plan, including revenue projections and costs. Finally, summarize everything in an engaging executive summary to attract potential investors and stakeholders. How to Draw a Simple Business Plan Template? To draw a simple business plan template, start with a clear header that outlines the main sections, such as Executive Summary and Market Analysis. Use bullet points to encapsulate key information for each section, ensuring clarity. Include placeholders for financial data and specific goals to make future completion easier. Organize the template logically, beginning with broad overviews and moving to detailed strategies, as you leave room for appendices to support your plan. What Are the Five-Five Steps in the Business Planning Process? The business planning process involves five crucial steps. First, you’ll define your mission and set SMART goals to guide your direction. Next, conduct market research to understand your target audience, competitors, and trends. Then, develop a marketing and sales strategy that outlines how you’ll attract and retain customers. After that, create a financial plan detailing forecasts and budgets. Finally, outline your operational processes to guarantee efficient daily management and staffing. What Are the 5 Steps in Creating a Business? To create a business, start by conducting market research to identify your target audience and industry trends. Next, define your mission and objectives using the SMART criteria for clarity. Then, outline your products or services, emphasizing their key features and pricing strategies. Develop a marketing and sales strategy that details customer acquisition and promotional tactics. Finally, create a financial plan that projects revenues and expenses, ensuring you understand your profitability timeline. Conclusion Creating a business plan template in five easy steps guarantees you cover crucial components effectively. By identifying key elements, outlining a clear structure, developing prompts for guidance, designing for visual appeal, and refining for user needs, you establish a solid foundation. This structured approach not merely streamlines the planning process but likewise improves clarity for stakeholders. With a well-crafted template, you’ll be better equipped to adapt to changes and achieve your business objectives successfully. Image via Google Gemini This article, "How to Create a Business Plan Template in 5 Easy Steps" was first published on Small Business Trends View the full article

The statistical blind spot could affect everything from interest rate cuts to investment decisionsView the full article

Shops face the question of whether to round up or down as the last one cent coin enters circulationView the full article

Outdoors brand Yeti dropped its new holiday commercial, and it has a lot of what you’d expect from a seasonal spot. “Bad Idea” outlines all the reasons you probably shouldn’t get a Yeti for someone you care about: “Don’t get them a Yeti,” says the voice-over, as a ribboned cooler flies out the back of a pickup truck. “Unless you like dogs that are always wet, eyebrows that are still growing back, and sand in places sand should never be.” By the end of the commercial, it’s clear that the brand is aiming at people who are obsessed. It could be surfing, fishing, camping, golf, whatever—it’s about those chasing the dream wherever it leads them. But for all its charming predictability, this is more than just another ad for Yeti; it’s a major shift in the way the company approaches marketing and advertising. Thanks to a partnership with Wieden+Kennedy, this commercial is the first piece of advertising Yeti has made with an outside agency, and it signals a new era for a brand that has been staunchly self-made. For the past 19 years, Yeti has largely created all its own marketing and advertising, including ambitious projects like its ongoing series of short documentaries under the “Yeti Presents” banner. That’s why my ears perked up when Yeti CEO Matt Reintjes announced the W+K partnership on his company’s November 7 earnings call. This came amid outlining how revenue was up 2% year over year but profits were down slightly by 2%, which the company credited to higher tariff costs. International revenue was up 14%. Mixing strong in-house creative cultures with big-name agencies is rare, especially today, as more brands build out robust in-house teams to replace or reinforce their long-standing relationships with agencies. When the two do mix, one typically emerges as the alpha. When I spoke to Reintjes recently, he told me that teaming up with the same agency as Nike, Ford, DoorDash, and McDonald’s is a reflection of Yeti’s ambition and expansion into mainstream sports, backyards, and yoga studios around the world. “We’re incredibly proud of the team that we have at Yeti and the way this brand has come to life with their vision and creativity,” he says. “We saw an opportunity to take the power of the in-house creative and content we have at Yeti and pair it with an incredible partner in Wieden+Kennedy and their global scale and global brand storytelling experience capabilities.” It’s also an opportunity to redefine how a world-class creative marketer can coexist and thrive with a world-class creative shop. The Great In-house Debate Over the past 15 years or so, there has been an omnipresent tension in advertising between the role of in-house creative departments and ad agencies. Many in-house agencies were created to save a brand money by not having to outsource all of its creative work. It was also about control, the theory being that an in-house team would know the brand better, and it would be able to produce work faster to keep up with the pace of culture as social media exploded. The reality is that brands were also fed up with unnecessary fees and bloated holding company bureaucracy. So they started to build out their own teams. The Association of National Advertisers (ANA) publishes an in-house report every five years. Its 2023 report said that 82% of its members had an in-house agency, up from 78% in 2018. Some estimates now put that figure closer to 90%, though the trade group’s next report won’t be published until 2028. Each brand has its own model. Almost all brand work from Airbnb, Squarespace, and Liquid Death comes from their in-house teams. Patagonia, another heavyweight in outdoorsy film content, produces all of its marketing in-house, too. In the past three years, Kraft Heinz’s in-house agency, the Kitchen, has expanded its work from 4 of the company’s brands to 19, and grown its team from 35 to more than 135 across two offices. PepsiCo has three different in-house agencies—Sips & Bites for bigger projects, D3 for PepsiCo Foods in the U.S., and Creators League, which is focused on beverages. All told, it’s a major investment for these companies. Ad agencies began to feel threatened. Every project or creative win by an in-house agency could conceivably have been theirs. Trade group In-House Agency Council reported last year that external agencies did 70% of the workload in 2021, but by 2023 that dropped to just 30%. Some execs estimated that 30% to 40% of revenue had bled from the traditional creative agency model through in-housing. Yet Kraft’s most high-profile (and awarded) work still comes primarily from partner agencies like Rethink. When Pepsi’s in-house agency made the infamous Kendall Jenner ad in 2017, many ad agencies not-so-quietly celebrated the blowback. What makes Yeti and W+K unique is their chance to reset this narrative and show what two incredibly strong creative entities—in-house and external—can achieve together. Irrational Commitment Last year, Yeti released a short film called All That Is Sacred. Directed by Scott Ballew, the 34-minute film is a portrait of Jimmy Buffett and his group of friends in Key West, Florida, back in the late 1960s and ’70s. It shows the balance between the work and leisure life of writers and musicians, including Thomas McGuane, Jim Harrison, Guy de la Valdéne, and Richard Brautigan, and their shared obsession with fishing. No ad agency on earth would’ve made this. Or let me rephrase: No client would likely buy this idea from an agency. Not because ad agencies lack the creative talent. Ad agencies can, and do, make great, unexpected creative work. Even if we just stick to films, look no further than The Seat on Netflix (Modern Arts for WhatsApp), award-winning short doc The Final Copy of Ilon Specht (McCann for L’Oréal Paris), or waaay back to Pereira O’Dell’s role in Werner Herzog’s 2016 feature doc Lo and Behold for Netscout. But All That Is Sacred is ambitious even by Yeti standards. Most of Yeti’s best work has a direct tie to the brand, typically telling a personal story or chronicling an adventure of one of its many ambassadors. This is none of that. The tie to the brand is less direct, and more about vibes. That can be tough for an agency to push from the outside. To use a Yeti-appropriate metaphor here, as a piece of brand content goes, it’s not just out in the wilderness—it’s fully off-grid, to a point that would make most marketers feel naked and afraid. But it’s beautiful. And it fits. It fits in a way that only a brand so fully confident in itself and its point of view could. That point of view has been the backbone of Yeti’s overall brand strength. Pierre Jouffray, Wieden+Kennedy executive creative director, says the agency worked with the internal Yeti team to really crystallize what that point of view is. After talking to all the brand’s ambassadors, one thing stood out. “There’s something that is so true about their product, about the ambassadors, about the people, and about the way we would work together, which is this idea of irrational commitment,” he says. “That’s something that you can really connect with no matter what your pursuit is.” For Reintjes this isn’t about taking a weird left turn for the brand. “This isn’t about doing something different; it truly is additive,” he says. “It’s almost like a layer cake. We’re just adding another layer on top of the incredible work that our team does from the most grassroots, endemic, connected, authentic audiences across social media and different platforms. We look at this as augmenting and a partnership in and how we scale this brand for a really long time.” “Bad Idea” is a great start, blending what both companies do incredibly well. It’s even narrated by musician and actor Ryan Bingham (Yellowstone), who hosted a Yeti show called The Midnight Hour in 2020. The real test will be to build up the global brand work that truly taps into that idea of irrational commitment while still connecting and creating with the audiences who built this brand in the first place. Just Yeti It. View the full article

A reader writes: I have a new employee who is refusing to do some parts of her job. She hasn’t done this with me directly, but when I left for a week’s vacation, I gave very clear guidance on what she should be working on. That included learning to use some of our equipment, practicing her job skills, and reviewing training videos with the team. Unfortunately, while the other team members were focused on the training videos, she was watching personal videos on her phone. Each team member later told me separately that when they asked her to participate, her response was, “No, I’m not going to do it.” What should I do now? Minda Zetlin responds: Unless your employee is covered by a union contract, or a contract between you and her, you certainly have the legal right to fire her. Ethically, you have that right as well. When you hire someone to do a specific job, you can reasonably expect that they will do that job. The exceptions would be if you asked her to do something dangerous, illegal, or that violated her own ethics. Or, if you had unreasonable expectations for when or how much she would work, as in last week’s Ethics question. Assuming none of that is the case, you can do whatever you choose. So ask yourself what’s best for you and for your company, and also what’s best for her. The answer will depend on why you hired her in the first place. Does she have skills your company needs? Do you see potential in her? Is she refusing to do these things because she’s inexperienced and perhaps afraid of doing them badly? Your next step should be to have a one-on-one meeting with her. I’d begin by asking her why she declined to do tasks that clearly are part of her job. I’d also ask about her future career goals both inside and outside your organization. Her answers will help you make an informed decision about what to do next. Update: The reader writes that they met with this employee one-on-one. “I asked if she wanted the job, and she said yes,” they write. “I then listed the specific behaviors that needed to change—including refusing to participate and using her phone during work time.” This was done firmly but with kindness, the reader says. The reader also explained that the goal was to help this employee develop valuable professional skills. “I made sure she understood the opportunity in front of her. The more senior person in her role earns more than $82,000 a year, and I explained that the training she’s receiving could put her on a similar path at this company or anywhere else.” The reader then printed out a list of the expectations this employee was to fulfill, and they each signed it. The two met again for a follow-up two weeks later. By that time, her performance had improved dramatically. “She’s now on week seven, and time will tell if she continues to grow into the role,” the reader writes. “But the kindly, structured explanation seems to have made a real difference.” Got an ethical dilemma of your own? Send it to Minda at minda@mindazetlin.com. She may address it in a future column. View the full article

This week’s biggest business news is perhaps that the U.S. federal government shutdown finally ended; however, that ending didn’t come without more than a few noteworthy concessions. Meanwhile, a beloved coffee chain walked straight into a strike on one of its biggest promo days, and a regional grocer found a way to turn literal loose change into both PR and foot traffic. In the background, the tech world reminded everyone that hype cycles come with fine print. CoreWeave, one of the hottest names in AI infrastructure, delivered blockbuster revenue but still saw its stock sink on news of a delayed data center. IBM, facing louder rivals in quantum computing, rolled out new chips and a faster manufacturing plan to reassure customers it is still a contender. And amid all of that, Target is telling workers to smile more, and Google is suing over scam texts. Here are the stories that defined the week in business. Marriott and Sonder’s Split Leaves Guests on the Street Marriott abruptly terminated its licensing deal with Sonder, and within a day, the short-term rental operator announced plans to liquidate and file for Chapter 7 bankruptcy protection. The collapse has created chaos for roughly 1,400 employees across more than 35 cities, not to mention for guests caught in the middle of stays. Some travelers reported being told to vacate with little warning, and others were denied access to their rooms or forced to navigate partial refunds and small credits after hours while on hold on the phone. Marriott says its priority is minimizing disruption for guests who booked through its channels, but both companies have gone quiet publicly as blame for the failed partnership flies in both directions. Google Sues Alleged Smishing Kingpins Behind Fake USPS Texts If you have ever gotten a fake USPS or toll road text, Google says it has found one of the groups responsible. The company filed a lawsuit against 25 unnamed individuals it ties to a global “phishing as a service” operation called “Lighthouse,” which allegedly used hundreds of fake website templates to mimic brands such as Google, USPS, and New York City agencies. Google argues that the nefarious network may have stolen as much as a billion dollars over three years by tricking users into entering logins and payment information. The suit leans on RICO, trademark, and computer fraud laws, and aims to disrupt Lighthouse’s infrastructure, even if the operators themselves are based overseas and beyond easy reach of U.S. law enforcement. Starbucks Baristas Turn Red Cup Day Into a Red Cup Rebellion On what is usually one of Starbucks’s biggest promotional days, unionized baristas at more than 65 stores across 42 cities walked off the job. Members of Starbucks Workers United say negotiations over pay, hours, and hundreds of alleged unfair labor practices have stalled, and they accuse the company of refusing to bring serious proposals to the table. Starbucks insists the strike has had minimal impact so far and says it is ready to bargain when the union returns. The union counters that it is prepared to escalate into the largest, longest strike in company history if leadership does not agree to a contract that improves scheduling and take-home pay. Hemp Becomes Collateral Damage in the Shutdown Deal To move a bill that would reopen the federal government, senators accepted language that could effectively outlaw many hemp-based products within a year. The provision bans unregulated sales of items containing THC, which even legal hemp can include in trace amounts, and could devastate a $28 billion industry built after the 2018 Farm Bill loosened restrictions. Kentucky Sen. Rand Paul tried and failed to strip the hemp language, arguing that it threatened thousands of jobs in his home state and elsewhere. Shutdown Fix Sets Up a 2026 Sticker Shock for Health Insurance The same deal that moved the government toward reopening will leave millions of Americans facing higher health insurance premiums in 2026. Senators agreed to fund the government without extending enhanced Affordable Care Act premium tax credits that currently keep exchange plans more affordable. Data from the Kaiser Family Foundation suggests that individuals could pay up to $1,836 more per year, and families of four could pay up to $3,735 more a year, if the credits expire. Democrats secured only a promise of a future vote on an extension and will now have less leverage, while employers are expected to hike premiums on workplace plans as well, continuing a decades-long trend of costs outrunning inflation. Target Bets on Smiles and Service With New ‘10-4’ Policy Target is testing a back-to-basics strategy for its in-store experience as it heads into the holiday rush. A new “10-4” policy instructs employees to smile, wave, and acknowledge customers who are within 10 feet and to actively greet shoppers who are closer than 4 feet. The initiative lands just ahead of Black Friday and at the start of weeks of rolling promotions that stretch through late December, a period when two-thirds of Americans say they will already be shopping. Behind the friendlier vibes, Target is coming off better-than-expected second-quarter earnings, but also traffic declines, DEI-related boycotts, and recent layoffs that trimmed about 8% of its corporate staff. CoreWeave’s Data Center Delay Spooks AI Investors AI infrastructure firm CoreWeave reported staggering growth, with revenue up 134% year over year and a $55.6 billion backlog of future business, yet its stock slid nearly 10%. The problem is a delay at a third-party data center that forced the company to lower its full-year 2025 revenue forecast by about $200 million. CoreWeave says the affected customer has agreed to keep the contract intact, meaning the revenue should arrive in 2026 instead, and stresses that 41 other data centers remain on track. Even so, the market reaction shows how jumpy investors have become about richly valued AI names, and how quickly sentiment can swing when execution hiccups threaten hyper-growth narratives. IBM Pushes Back in the Quantum Arms Race With DARPA publishing a list of top quantum contenders, and with rivals like Quantinuum touting record-setting machines, IBM is working to remind customers that it is still on schedule. The company announced two new processors: Nighthawk for near-term quantum advantage experiments, and Loon for longer-term, fault-tolerant architectures backed by advanced error correction codes. IBM is also moving quantum chip production into a 300-millimeter wafer fabrication plant at the Albany NanoTech Complex, a shift that should double its manufacturing speed and allow for much more complex processors. Executives say the goal is to make sure both hardware and classical software tools are ready so that real-world applications can scale by the latter half of the decade. Pennies End, but a Grocer Turns Them Into a Marketing Win With the U.S. Mint pressing its final penny this week after an order from President The President to stop producing one-cent coins, a regional grocer is trying to capture both coins and customers. Market 32 and Price Chopper stores in six Northeastern states are hosting a “Double Exchange Day” that will swap up to $100 in pennies for gift cards worth twice as much. For shoppers, it is a way to turn jars of change into a sizable grocery credit. For the chain, it is a clever way to stock up on coins ahead of a looming shortage. View the full article

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Generally speaking, housing markets where inventory (i.e., active listings) has returned to pre-pandemic 2019 levels have experienced weaker home price growth (or outright declines) over the past 36 months. Conversely, housing markets where inventory remains far below pre-pandemic 2019 levels have, generally speaking, experienced more resilient home price growth over the past 36 months. Of the 50 largest metro area housing markets, 21 major metros now have more homes for sale than at the same point in 2019. Last year, that count was 13 markets. These are the 21 major markets where homebuyers have gained the most leverage: Memphis, TN; Austin, TX; Phoenix, AZ; Tucson, AZ; Denver, CO; San Antonio, TX; Orlando, FL; Nashville, TN; Tampa, FL; Oklahoma City, OK; Dallas, TX; Charlotte, NC; Seattle, WA; Houston, TX; Jacksonville, FL; Las Vegas, NV; Raleigh, NC; Birmingham, AL; Miami, FL; San Francisco, CA; and Portland, OR. Many of the softest housing markets, where homebuyers have gained the most leverage, are located in the Southeast, Southwest, and Mountain West regions. Many of those areas were home to many of the nation’s top pandemic boomtowns, which experienced significant home price growth during the Pandemic Housing Boom, which stretched housing prices beyond local income levels. “There are some markets within Florida that have struggled with some inventory balance issues,” D.R. Horton COO Michael Murray said on the company’s October 28 earnings call. “Notably, Jacksonville and Southwest Florida have had some excess inventory, and demand has been a while coming to absorb that. So that’s kind of what you’re seeing in the current quarter’s results in the Southeast for us.” Once pandemic-fueled domestic migration slowed and mortgage rates spiked, markets like Punta Gorda, Florida, and Austin, Texas, faced challenges as they had to rely on local incomes to sustain frothy home prices. The housing market softening in these areas was further accelerated by the abundance of new home supply in the pipeline across the Sun Belt. When and where needed, builders are often willing to reduce prices or make other affordability adjustments to maintain sales. These adjustments in the new construction market also create a cooling effect on the resale market, as some buyers who might have opted for an existing home shift their focus to new homes where deals are still available. In contrast, many Northeast and Midwest markets were less reliant on pandemic domestic migration and have less new home construction in progress. With lower exposure to that migration pullback demand shock—and fewer homebuilders doing large incentives—active inventory in these Midwest and Northeast regions has remained relatively tight, keeping the advantage in the hands of home sellers. View the full article

While I’m happy to extol the powers of the written word, sometimes you need a little something extra to get your point across. I’m not just referring to pictures, either, but also to annotations, flowcharts, and freeform drawings. These illustrative tools can be a powerful way to convey your message, whether by themselves or on top of an existing image. Allow me to (*ahem*) illustrate exactly what I mean, using a free tool that might end up being the image-editing, markup-magic-creating supplement you never knew you needed. This tip originally appeared in the free Cool Tools newsletter from The Intelligence. Get the next issue in your inbox and get ready to discover all sorts of awesome tech treasures! The picture of productivity Next time you need to mark up an image or feel like rolling your own flowchart, remember this website: Excalidraw.com. ➜ Excalidraw is a web-based app that bills itself as a digital whiteboard, but it is actually much more than that. With Excalidraw, you can also import your own images and then insert arrows, boxes, lines, and text—or create completely freeform drawings—all on top of them. ⌚ You’ll be ready to start drawing or annotating in just a few seconds. The site is free to use and doesn’t require any logins. ✅ To start using Excalidraw, just pick one of the drawing tools at the top of the screen, then click and drag on the canvas to insert it. To add an image, either click the image icon or—if you’re using the site on a computer and the image is in your clipboard—just hit Ctrl+V or Cmd+V to paste it in. Use the Cursor tool to select items that you want to move or delete, and use the Hand tool to move around the canvas. Excalidraw lets you save works-in-progress as files on whatever device you’re using. Once you’re finished, you can copy the resulting image to your clipboard or export it as an image file. ☝️ If you’re an expert at editing photos on your phone—thanks, perhaps, to my colleague JR Raphael’s Android Photography Masterclass—you may wonder why you’d need a separate app for annotating images. For one thing, Excalidraw works on any device, not just your phone or tablet. (I’ve found it especially helpful when marking up screenshots for my own tech advice newsletters.) Excalidraw also supports illustrations without an image, so you can build a flowchart from scratch or doodle away on an infinite canvas. Lastly, Excalidraw has more powerful annotation features than your phone’s photo markup mode, with additional drawing tools and a “Layers” feature for moving elements to the foreground or background. 💡 Some extra tips to keep in mind when using Excalidraw (some of which will only make sense if you’re using a device with a mouse or keyboard): Right-clicking on the canvas reveals some useful options, including a grid mode and a “Zen” mode that hides the toolbar. Right-clicking individual items is helpful as well, allowing you to duplicate, flip, or move items forward or backward in the scene. While drawing lines or arrows, you can connect them to the edges of a shape, and they’ll stay connected even if you move the shape later. Use Ctrl+Z or Cmd+Z to quickly undo edits. If you ever want to start from scratch, click the menu button in the top-left corner, then select “Reset the canvas.” (But consider saving your work first.) 💾 To save your creation as an image file, click the menu button and select “Export.” You’ll see a preview of what your image will look like along with some extra options. (Of note: “Embed scene” includes some data in the image file to allow for future editing in Excalidraw.) You can then save the file (as a PNG or .SVG) or copy it to your clipboard for easy sharing elsewhere. Excalidraw.com is entirely web based, though you can install it as a Progressive Web App if you’d like. The site is free to use with no ads, including the ability to save project files to your local device and export images. An optional subscription for $6 per month lets you save files online and access extra features such as presentation mode and team management. Excalidraw requires no sign-in, doesn’t ask for personal information, and advertises end-to-end encryption for drawings. Treat yourself to all sorts of brain-boosting goodies like this with the free Cool Tools newsletter—starting with an instant introduction to an incredible audio app that’ll tune up your days in truly delightful ways. View the full article

Frequent flyers and travel hackers who visited SeatGuru on October 31 were met with an unpleasant surprise: a shuttered website directing them to Tripadvisor’s homepage. After nearly a quarter-century in operation, the beloved website that helped fliers determine which seats to grab, and which to avoid, is gone. Here’s why, and three SeatGuru alternatives to try now. What was SeatGuru? SeatGuru was a website highly regarded by frequent fliers. The site hosted seatmaps for thousands of airplanes and categorized every seat on each aircraft in order to help fliers figure out which to book and which to avoid. “Good” seats were those with qualities like the most legroom in their class, the deepest unobstructed recline, and amenities like power ports. “Bad” seats were those with limited recline, proximity to the toilets, or obstructed windows. Since airlines rarely made customers aware of the drawbacks of certain seats, and priced them similarly to preferable ones, there was always some risk involved when selecting your seat while booking. SeatGuru took that uncertainty away. By visiting the site, you could pull up the exact make and model of your airplane for a selected flight and click any seat to see whether it’s good, bad, or something in between. You could then use the data SeatGuru provided to choose the seat that works best for you. SeatGuru was founded in 2001 and was one of those websites that exemplified the promise of the early internet: that newly accessible data could help improve our lives in many small ways. In SeatGuru’s case, it meant frequent travelers could make more informed choices about which seats to select. SeatGuru became so popular that in 2007, travel website king Tripadvisor acquired it. But now, 18 years after the acquisition, and 24 years after its founding, SeatGuru is no more. What happened to SeatGuru? While once a reliable repository of seat data, SeatGuru began to take a turn for the worse when the Covid pandemic started. Around 2020, SeatGuru stopped producing content for its blog, delisted its smartphone apps from app stores, and fell behind in publishing the latest seat map data, leading the site’s data to become increasingly unreliable. Still, even until this year, provided the configuration of any plane’s seat did not change, SeatGuru remained a valuable resource for frequent travelers hoping to find the best seats on their flight. But then, on October 31, with no notice and no fanfare, Tripadvisor pulled the plug on SeatGuru. Now, visitors to the site are redirected to Tripadvisor’s homepage. As for why, a Tripadvisor spokesperson told me that the company’s pivot to AI initiatives was a driving factor in SeatGuru’s decline. “Tripadvisor has been evolving its business for its next era of growth, one that is centered on experiences and powered by AI,” the spokesperson told me. “We’ve been focusing strictly on optimizing our legacy offerings, and deprioritizing areas of the business as we shift resources towards our marketplace growth opportunities.” SeatGuru was one of the areas the company felt should be deprioritized. 3 SeatGuru alternatives to try SeatGuru may be joining many of its fellow useful websites from the early 2000s in the internet graveyard, but there are other ways to learn about a seat before you book it. The first is SeatMap.com. The site was launched in 2022 and was founded by AMD and Microsoft veteran Djois Franklin and Fred Finn. Finn has the distinction of holding two travel-related Guinness World Records: most airmiles flown by a passenger and the person who has flown the most flights on the Concorde. SeatMap hosts seat maps for planes operated by more than 750 airlines worldwide and categorizes each seat by color, based on comfort and amenities. In an email, SeatMap CEO Djois Franklin told me that the site was seeing a “sharp uptick” in traffic across the globe after SeatGuru shut down. To use SeatMap, just enter your flight information, and you’ll be presented with an interactive diagram of your flight’s seatmap. A second website SeatGuru fans should try is AeroLOPA. The site, founded in 2021, doesn’t have the interactivity of SeatGuru or SeatMap.com (meaning you can’t click on an individual seat to learn more about it), but you can look up specifc planes in the fleets of nearly 200 airlines to find detailed cabin maps showing the relative positions of all seats along with general information about any cabin’s seat widths, recline, legroom, and more. Finally, those wanting more social feedback about the best and worst seats should give SeatLink.com a look. The site lets you look up your specific flight, as SeatGuru did, and shows an interactive map detailing the amenities of each seat. SeatLink also lets users post comments about individual seats, enabling crowdsourced reviews and other socially aggregated data. View the full article

After a decade in development, legendary documentarian Ken Burns is set to release his long-awaited series, The American Revolution. In the lead up to the premiere, Burns shares key lessons he gleaned from the founding of the United States—and the parallels between the revolutionary era and today. He also reflects on his admiration for Lin-Manuel Miranda’s Hamilton, and the obstacles he faces in his ongoing quest for truth. This is an abridged transcript of an interview from Rapid Response, hosted by former Fast Company editor-in-chief Robert Safian. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today’s top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. You have a new, six-part series about the American Revolution, premiering on November 16 Why were you drawn to this, and why now? I’ve been working on this for almost 10 years. I started this, and I said yes to this project in December of 2015. Barack Obama still had 13 months to go in his presidency. What drew me to the Civil War was organic and interior to my choices. I was looking at a map, a kind of 3D map, where I suddenly saw an arrow of British moving west through Long Island towards Brooklyn. This little, tiny town of Brooklyn, which is the largest battle in the entire revolution. While there are no photographs in newsreels, I felt being a lover of maps and a willingness, I think, to reexamine my usual disdain for reenactments, they’re not going to reenact that battle. They’re just being there to make you feel the weather, make you feel the heat, make you feel the cold, make you feel the location, the interiors of all of these actions, and at that point, I realized maybe we can do this. Of course, I went about three years into this project and said, “Wow. If we hit our marks, we’ll be in 2025, which is the 250th anniversary of Lexington and Concord.” Then, all of a sudden people would arrive and say, “Oh. You planned this so well.” Yes, yes. We didn’t. I’m glad that a very deep dive into the revolution is going to happen way in advance of the 4th of July of next year, which is, for many people, the 250th. Of course, it’s been going on for some time, and will go on if you want to follow it through to the end, until 2039, which is 250 years after our government officially got started and George Washington became the first President of the United States of America. There’s lots of things going on, but a lot of it will be focused next July, and there is that risk that it could become super-ficialized. The war itself is already encrusted with the barnacles of sentimentality and nostalgia. It is not bloodless or gallant. You do not want to die when a cannon takes off your head, a bayonet guts you, or a musket ball rips through you. There’s just a remarkable set of characters and remarkable interiors to the war, the details of the battles, a really long, six and a half year war from Lexington to Yorktown. We need to know about our origin story, particularly in a time when people are sort of ringing their hands. We’re so divided. Well, you just look back there, and we’re really divided back then, and that maybe reinvesting with our origin story helps us find out what’s real and what’s artificial in all of the stuff that’s going on right now. The current cultural story about the American Revolution that maybe is most prominent or most well known is Hamilton, is Lin-Manuel Miranda’s retelling in that. Did that impact the way you told the story at all? Look, let me give my props to Lin Manuel. Hamilton is the greatest cultural event of this new millennium, this new century. It is a phenomenal thing. I mean, I’ve got a teenage daughter who’s 15, a 20-year daughter and an almost 15-year-old granddaughter, and they can recite, sing the whole thing, two-and-a-half hours. And so, they know tensions between big and small states. They understand between a strong federal Hamiltonian system and a state’s rights Jefferson model. They know who Hercules Mulligan is. They know all this sort of stuff about the revolution, and they have a kind of great glee about it that must mean that history teachers of this period are just lying down and thanking God for Lin-Manuel Miranda. I mean, truth and fact are increasingly contested today, and we mentioned Hamilton. I mean, Lin-Manuel, the big picture is certainly there, but there’s a lot of artistic license in what he pulled together. When you look at this as a storyteller, and for our listeners who are business leaders and other leaders, the responsibility to promote strict accuracy, or like as long as we get the big picture right, it’s okay the details don’t matter as much. The people that are listening to this have to do the former, right? Strict accuracy, and so do I. There’s not a filmmaker in a world when a scene is working, you don’t want to touch it, but we’re always finding new and destabilizing information that are true and you need to incorporate them. Lin-Manuel can actually take the poetic license necessary to do a big, Broadway musical, and God bless him. I mean, there’s a guy that we know in our past who would take the histories and conflate characters, change countries, move these characters around. His name is William Shakespeare, and we don’t believe that there are any truths higher in fiction, which are sometimes more true than what’s real, but I can’t do that. I will sacrifice the art for the correct story. That makes it super complicated, but what’s interesting is when you do that, when you try to fit the round peg of the truth into the square hole of art, if you will, and you successfully negotiate it, it’s as good as anything. You’re right, we’re in an age where we’re supposed to be post-truth. No, we’re not. Are you post-truth? I’m not. I’m not. Right. Nor are the business leaders of the country. You’re going to fudge your figures? I don’t think so. We do know that large sections of where we supposedly get information are, themselves, unaccountable. They do not care, one way or the other. Whatever political persuasion, whatever it is, people are manipulating the truth all the time. Always has been. The problem is just the sheer size of the internet and its ability for a lie to get started before the truth can come back, but one and one is always going to be two. You can’t build an airplane, you can’t run a business, you can’t work the budget of a documentary film without one and one equaling two. You can’t just make it up, right? You cannot make it up. George Washington rides out on the battlefield at least three times, that I know of, risking his life at Kipp’s Bay in Manhattan, at Princeton, and at the Battle of Monmouth, and these are significant things. If he’s killed, it’s all over, because he is the only person that held us together as a historian, Annette Gordon Reed says, that there’s one person who was able to figure it out. I’m interested in him. He’s deeply flawed. He’s rash. Those movements potentially sacrifice the whole thing, and he makes terrible battlefield mistakes. He leaves his left flank exposed in the Battle of Long Island, the largest battle of the American Revolution, and loses it and New York for seven years. It’s the British headquarters and the loyalist stronghold for the rest of the war. He does the same mistake at Brandywine in Pennsylvania, another huge, huge battle, where this time he leaves his right flank, but there’s nobody who knew how to inspire men in the dark of night, in the dead of cold, who could pick subordinate talent, that he wasn’t afraid of their skills or talent, who could defer to Congress and understand how they work, who could speak to a Georgian and a New Hampshireite and say, “You’re not that. You’re an American, this new thing.” Nobody. Nobody could do that. Does he have undertow? Yes. Does that make him any less heroic? No. Heroism is not perfection. Heroism is a negotiation within yourself between your strengths and your weaknesses. Has truth always been sort of fungible and selective in U.S. history, a kind of a matter of debate and perspective, or is this time we’re in now different? Human beings have always lied. People have been lying as long as there have been human beings. View the full article

When the camera was invented in 1826, many people thought painting would die. But it didn’t. Instead, painters found new ways to express themselves. Painters reinvented expressionism, impressionism, and abstract art. Monet, Munch, and later Picasso, all thrived after the camera arrived. When personal computers became common in the 1980s, there was fear that creative thinking would become less valuable. But computers opened the door to digital design, animation, and new forms of storytelling. Studios like Pixar, founded in 1986, showed how technology could help artists create worlds that were impossible before. When Photoshop launched in 1988, photographers worried that editing tools would destroy the purity of photography. But Photoshop expanded what photographers and designers could do. It made visual creativity more accessible and helped build the modern creator economy. So why does AI, today, make so many creators feel threatened? History tells us one clear truth: New technology has never replaced creativity; it has always expanded it. Every time new technology arrives, progress follows. The AI Genie Can’t Be Rebottled Artificial intelligence is simply the next chapter. It can help creators work faster, explore more ideas, and bring their imagination to life with fewer barriers. Human imagination can’t be replicated by a machine. The spark that evokes tears in a story’s readers or a swoon from a melody’s listeners is innately human—that intangible side of creativity: talent, taste, lived experience, a unique point of view, and the urge to express it. But turning those intangibles into something others can see, hear, or feel also requires tangibles: time, tools, access, and resources. Too often, that’s where great creators get stuck. Not everyone can dream up and create a world worth caring about. But even those who can often lack the means to bring it to life in a way that others can enjoy as well. That’s where AI can help. It can’t create soul, but it can remove barriers to entry by lowering the cost, time, skills, and resources needed to truly bring creative expression to life. In this sense, AI can be a force multiplier for creativity. Just as the smartphone made photography universal, AI can democratize storytelling itself. Collaboration, Not Replacement In my work building an audio storytelling platform, I’ve seen how AI can help creators, not replace them. Our platform lets anyone write and publish serialized audio stories. To help them, we’ve built AI tools that act like creative partners. They don’t write for the authors—they assist them. They help a writer stay consistent across hundreds of episodes, suggest plotlines when inspiration stalls, and offer real-time feedback on pacing and dialogue. Other tools turn text into natural-sounding audio, add background sound, or generate artwork—capabilities once available only to professional studios. These tools don’t take jobs from artists; they open doors for them. Many of our creators couldn’t afford to hire professional narrators, sound designers, or illustrators. Without AI, their stories would never be heard. With it, they reach millions of listeners. That’s not replacing creators. It’s expanding who gets to be one. Keeping Humans at the Center Great art doesn’t come from pattern recognition or probability. It comes from emotion, contradiction, curiosity—the things that make us human. AI can help a writer structure a story, but it can’t feel heartbreak or hope. That’s why we must build creator systems that keep those human creators squarely at the center: ensuring transparency, maintaining creative ownership, and deeply valuing the originators of ideas. A New Chapter for Creativity We’re at a pivotal moment in a long story. The history of art and technology has always followed the same arc: disruption, fear, adaptation and, ultimately, expansion. Steve Jobs once described the home computer (a technology that stirred up a frenzy of fear when it came to market) as a “bicycle for the mind.” He envisioned a tool that didn’t replace our thinking but accelerated it, amplifying human imagination in the same way a bicycle amplifies human movement. This next chapter of creative innovation is ours to write. We can let AI reduce creativity to algorithms, or we can shape it into a bicycle for the creative mind, something that helps human talent travel farther and faster. The future of storytelling shouldn’t be about machines replacing humans. It should be about more humans telling more stories, reaching more people, and inspiring more imagination (and tears and swoons) than ever before. View the full article

Every fall, I anticipate the winter holidays with almost childlike joy. I look forward to familiar traditions with friends and family, eggnog in my coffee, and the sense that everyone is feeling a little lighter and more connected. At the same time, I feel anxious and annoyed by the manufactured sense of urgency around gift giving: the endless searching and second-guessing shaped by advertisers, retailers, and cultural expectations. Don’t get me wrong, I mostly love giving—and, yes, receiving—gifts during the holidays. But as a researcher who studies consumer psychology, I see how those same forces, amplified by constant buying opportunities and frictionless online payments, make us especially vulnerable and often unwise this time of year. Buying behavior, including gift giving, doesn’t just reflect needs and wants but also our values. Frequently, the values we talk about are more akin to aspirational ideals. Our actual values are revealed in the seemingly inconsequential choices we make day after day—including shopping. The cumulative effects of our spending behaviors carry enormous implications for society, the environment, and everyone’s well-being—from the purchaser and recipient to people working throughout the supply chain. This makes consumer behavior an especially important place to apply the emerging social science research on wisdom. While wisdom is defined in different ways, it can be understood as seeing decisions through a broader, values-informed perspective and acting in ways that promote well-being. Over the past decade, consumer psychology researcher David Mick and I have studied what that means when it comes to consumption. “Consumer wisdom?” you may wonder. Isn’t that an oxymoron? But there are vast differences in how we consume—and as our research shows, this can lead to very different effects on individual well-being. Defining consumer wisdom Building on some of David’s earlier work, I began my own research on consumer wisdom in the summer of 2015, interviewing dozens of people across the U.S. whom others in their communities had identified as models of wisdom. Previous research guided me to settings where I could easily find people who represented different aspects of wisdom: practicality on farms in upstate New York; environmental stewardship in Portland, Oregon; and community values in Tidewater, Virginia. I didn’t use the term “wisdom,” though. It can be intimidating, and people often define it narrowly. Instead, I spoke with people whose peers described them as exemplary decision-makers—people leading lives that considered both the present and the future, and who balanced their needs with others’ needs. From those conversations, David and I developed a theory of consumer wisdom. With the help of a third coauthor, Kelly Haws, we validated this framework through national surveys with thousands of participants, creating the consumer wisdom scale. The scale shows how consumer wisdom is not some lofty ideal but a set of practical habits. Some are about managing money. Some are about goals and personal philosophy, and others are about broader impact. We have found that six dimensions capture the vast majority of what we would call consumer wisdom: Responsibility: managing resources to support a rewarding yet realistic lifestyle. Purpose: prioritizing spending that supports personal growth, health, and relationships. Perspective: drawing on past experiences and anticipating future consequences. Reasoning: seeking and applying reliable, relevant information; filtering out the noise of advertising and pop culture. Flexibility: being open to alternatives such as borrowing, renting, or buying used. Sustainability: spending in ways that support the buyer’s social or environmental goals and values. These are not abstract traits. They are everyday ways of aligning your spending with your goals, resources, and values. Importantly, people with higher scores on the scale report greater life satisfaction, as well as better health, financial security, and sense of meaning in life. These results hold even after accounting for known determinants of well-being, such as job satisfaction and supportive relationships. In other words, consumer wisdom makes a distinctive and underappreciated contribution to well-being. Putting it into practice These six dimensions offer a different lens on holiday norms—one that can reframe how to think about gifts. Interestingly, the English word “gift” traces back to the Old Norse rune gyfu, which means generosity. It’s a reminder that true giving is not about checking boxes on referral, revenue-generating gift guides or yielding to slick promotions or fads. Generosity is about focusing on another person’s well-being and our relationship with them. From the perspective of consumer wisdom, that means asking what will genuinely contribute to the recipient’s life. One of the most important dimensions of consumer wisdom is “purpose”: the idea that thoughtful spending can nurture personal growth, health, enjoyment, and a sense of connection. Out with trendy gadgets, fast fashion, and clutter-creating décor or knickknacks—things that feel exciting in the moment but are quickly forgotten. In with quality headphones, a shared cooking class, a board game, and a workshop or tools to support a hobby—gifts that can spark growth, joy and deeper connection. In my ongoing research, people have described wise gifts as those that define value from the recipient’s perspective—gifts that stay meaningful and useful over time. The wisest gifts, respondents say, also affirm the recipient’s identity, showing that the giver truly understands and values them. Wiser consumption is learnable, measurable, and consequential. By choosing gifts that reflect purpose and the original spirit of “gyfu”—true generosity—we can make the holidays less stressful. More importantly, we can make them more meaningful: strengthening relationships in ways that bring joy long after. Michael Luchs is a JS Mack professor of business at William & Mary. This article is republished from The Conversation under a Creative Commons license. Read the original article. View the full article

Underperformance usually shows up in the guise of missed deadlines, low-quality work, or a bad attitude. This gets spotted sometimes, but not always, by a leader who then has to make a choice: when and how to tackle the underperformance. However, the problem can be exacerbated by acting too quickly: there is often a fierce desire within leaders to jump to action. They want to stop the badness, stop the ripples, and solve the situation as quickly as possible. But often, this means that they make assumptions about what is causing the underperformance and how to solve it without taking a little time to explore the real reasons behind the poor performance. The problem can also be exacerbated by acting too slowly: underperformance has a nasty habit of rippling out. Whether it creates a sense among colleagues that this low standard is acceptable, or whether it means that team members get annoyed that this individual is “getting away with it” (and therefore reduce their own efforts to create a sense of “parity”), it all ends in the same place: more underperformance and a potential impact on the workplace culture. I developed SOLVE, a leadership problem-solving model, to deal with exactly these sorts of problems: ones that need solving but aren’t as easy as jumping straight to action. Causes need establishing, options need considering, context needs to be taken into account. In the case of underperformance, the five stages of the SOLVE model would work like this: S – State the Problem Try to express, in 1–2 sentences, what the problem appears to be and the impact it’s having. Try to be precise about the behaviour causing concern: “They’re regularly late with deliverables and hesitant to give their opinion in meetings, which reduces their impact and makes our team look unprepared.” O – Open the Box Here, leaders dig into the problem more deeply, trying to work out why this situation is occurring. I encourage them to do a bit of research, and in this case, research should absolutely include talking to the team member in question to find out what’s going on. In the case of underperformance, I would investigate the following areas: Has their workload increased recently, either because you’ve given them more tasks, or someone else has without your awareness? Are they being asked to do work at a higher level than before? You might not perceive this in the same way they do, so it’s worth asking them the question. Has anything changed in their personal life? In some country and company cultures, it’s not appropriate to ask this outright, but there is no harm in a catch-up asking them how things are going “in general” and seeing if they bring anything up. Are they still finding their work interesting? Has anything changed that may have put their values out of line with the company’s or vice versa? Has the level of clarity over what’s expected of them changed? If the company’s strategy has changed, you’re a new manager, or they are working across two projects, they may simply be confused as to what to prioritize and why. L – Lay Out Your Solution Based on what you’ve discovered, you can now create a workable response. It might be offering clearer priorities, adjusting scope, or helping them to see the value of their work again. Leaders should think hard about what fits the context and the individual. With these very messy leadership problems, there is no such thing as a universal solution—think about how your organization’s size, industry, and status affect which solutions would work. If it’s a team issue, what impact does your function, size, and sub-culture have? And with regard to the individual involved, how does their background, personality, and experience affect your approach? V – Venture Forth Here, leaders start to put their actions into practice while looking out for problems along the way, ready to pivot. It may be that, as the underperformer starts to roll out actions to improve their performance, more factors reveal themselves as being important to take into account. For example, a leader I worked with recently thought that the solution to team disengagement was to increase rewards. However, the very mention of rewards led one team member to start to gripe about how this company thinks you can pay off anyone. It emerged that, even though the team member hadn’t previously said it, their disengagement was as a result of feeling bored with the work, rather than feeling unrewarded. The leader focused instead on providing work that team member perceived as more interesting, and their engagement rapidly improved. E – Elevate Your Learning This is about using the new skills and knowledge you’ve gleaned to generate further positive impacts. For example, if you’ve learned more about how to help team members manage their workload, can you share this with other leaders who have overstretched teams? I believe, and have seen through my work, that the SOLVE model can make a meaningful difference in handling underperformance (as well as plenty of other types of leadership problems). Leaders I work with on staff underperformance benefit from the encouragement that they should slow down, lay the situation out clearly, and then pick a solution that properly fits their context. They also appreciate being shown, through the Elevate stage, how to make sure that the time they’ve taken solving this problem hasn’t gone to waste. They have developed skills and approaches that will continue to help them and others in the future. The SOLVE framework allowed one leader I recently worked with to break down precisely why their sub-teams were underperforming, looking at the issue on an individual basis, and come up with targeted solutions. Importantly, they were also able to use their skills to help other leadership teams across the firm, multiplying the impact that their careful handling of underperformance had for their firm. I recommend, if you are keen to deal with an underperformance issue, to work through the five stages and see the positive impact that they can have on your team and, therefore, your leadership. View the full article

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