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Is there any worse time to be interrupted than right now? Regardless of what we're doing or the nature of the interruption, we often feel as if we have no time to spare at the moment. According to a new study in the Journal of Consumer Research, consumers feel busier when they are close to finishing a task or reaching a goal. "We often decline or delay opportunities because we are just so close to finishing what we are doing right now. Consumers often postpone a visit to a financial planner, skip going to the gym, or put off having a drink with a friend just because they are so close to completing what they are doing at the moment," write authors Ji Hoon Jhang (Oklahoma State University) and John G. Lynch Jr. (University of Colorado). Across three studies, the authors showed that consumers tolerate interruptions less the closer they are to completing a task or achieving a goal. Just start your first business? This book could help. Click on image to order. In one study, co...

“ Success is a process, a quality of mind and way of being, an outgoing affirmation of life ” - Alex Noble, artist & entrepreneur L ike you, I’ve read plenty of articles, posts and books on time management, most based on the personal experiences of the author.  Not to demean what these people teach, I decided to find what scientific research has to say about this too vexing problem. I found a recent review of current research on time management written by two Ph. D. researchers, Temesgen Belayneh Zerihun, Asst. Professor, Department of Marketing, and S. Murali Krishna, Professor, Department of Management, both of the College of Business and Economics at Mekelle University in Ethiopia.  They reviewed the entirety of scientific literature on time management of the past decades, and distilled all if this into seven simple principles of time management that were common to the reams of research reports they studied. Their conclusions : Understand that we cannot do everything in...

The USA is the most entrepreneurial economy in the world, according to the 2014 Global Entrepreneurship and Development Index . The GEDI index combines data on entrepreneurial activities and aspirations with data describing how well the country supports entrepreneurial activity in the US and 119 other countries across the world. The USA came top, followed by Canada, Australia and Sweden in second, third and fourth place, respectively. #1 in Venture Capital The researchers found that the USA is a world leader when it comes to financing new businesses through venture capital. This type of financial capital is provided to early-stage, high-potential and riskier start-up companies. This enables many new businesses to develop. About the Study The study was carried out by researchers from Imperial College Business School in association with the London School of Economics and Political Science, University of Pécs and George Mason University. Professor Erkko Autio, of Imperial College Business...

Phrases that pay on Kickstarter A s part of a study of more than 45,000 projects on Kickstarter, Georgia Tech researchers reveal dozens of phrases that pay and a few dozen more that may signal the likely failure of a crowd-sourced effort. Researchers at Georgia Tech studying the burgeoning phenomenon of crowdfunding have learned that the language used in online fundraising hold surprisingly predictive power about the success of such campaigns. Suggested reading click on image As part of their study of more than 45,000 projects on Kickstarter, Assistant Professor Eric Gilbert and doctoral candidate Tanushree Mitra reveal dozens of phrases that pay and a few dozen more that may signal the likely failure of a crowd-sourced effort. "Our research revealed that the phrases used in successful Kickstarter campaigns exhibited general persuasion principles," said Gilbert, who runs the Comp. Social Lab at Georgia Tech. "For example, those campaigns that follow the concept of recipr...

A s a certified Baby-boomer(circa 1949) retiree (2012), I elected to "retire" young to pursue a career that I had long desired, combining my love of science and my avocation of working with prospective small business owners and entrepreneurs. My decision is far from uncommon as is the decision by many boomers to continue to work beyond retirement age either staying on a full-time job, working part-time or starting a business.  Other research shows that taking retirement and actually retiring tends to shorten a retiree's life, and that staying active and involved lengthens it, as well as keeping a retiree healthier and mentally sharper. As more baby boomers reach retirement age, employers such as state governments face the likelihood of higher workforce turnover. For example, in the state of Missouri, more than 25 percent of all active state employees will be eligible to retire by 2016. Such large numbers of retirees threaten the continuity, membership and institutional hi...

Business plans are nonsense.   That is, FINANCIAL Business Plans are nonsense. What is a Financial Business Plan?  It’s the plan that a business owner or prospective business owner writes in the vain hope of obtaining financing from a bank, an investor, an angel or a Venture Capitalist.  This type of business plan is at best described as pie-in-the-sky fiction, based on base-case scenarios and wishful thinking.   Think I’m overstating this? Read my post:   The Myth of Venture Capital I Personally Recommend Click on image for info Personally, I wouldn’t waste my time or my money if for no other reason than no one reads them and if they do, they do not believe what’s in them.  To quote author, CPA and small business consultant, Ebong Eka, in his recent book, Start Me Up ,  “ Business plans are bullshit .”   I can’t argue his conclusion about financial or funding business plans.  They are at best exercises in mental masturbation and at wors...

The question is: should family businesses always keep it in the family?  From the Murdochs to the Hiltons, families have long sought to keep their businesses in the bloodline. But new research shows that's not necessarily the best method of management. The recent study, published in the journal Entrepreneurship Theory and Practice, shows that if the family business is part of a traditional industry built on quality and reputation, a family member would make a good CEO. But  if it operates in an industry that values innovation, and the firm has to stay on the cutting edge, it's best to look elsewhere for leadership. The study's lead author, CIBC Distinguished Professor of Family Business Peter Jaskiewicz, says that in industries that prioritize pushing boundaries over preserving tradition, an aggressive attitude in the marketplace is necessary to lead. "Because family CEOs tend to focus more on family values, while non-family CEOs seek to innovate, that means a CEO from...