This has been “one of those weeks” for the business world. We all woke up on Tuesday with fears that the markets were in for their worst performance since the crash of 1987.
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Some analysts thought a fast-food slowdown would never happen, but it is here and a lot of economists and business leaders are trying to make sense of it.
KFC, McDonald's, Starbucks, Pizza Hut, and many other similar fast-food retailers are reporting significant sales slowdowns and it should be very concerning to all business leaders.
Starbucks, in particular, experienced a notable drop in same-store sales for the latest quarter, sending its shares plummeting by 17% on Wednesday. Joining the fray, Pizza Hut and KFC also reported shrinking same-store sales figures. Even industry stalwart McDonald's acknowledged the challenging landscape, adopting what it terms a "street-fighting mentality" to retain value-minded consumers.
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The Taylor Swift – Travis Kelce relationship is like two different and unique galaxies on opposite sides of the universe colliding with unprecedented business outcomes.
Think about it for a moment…
The National Football League (NFL) is one of the most important and prestigious assets in the entertainment industry and for that matter, the world. Its fanbase is one of the most desirable to advertisers and their buying power is immense. Changing the way it operates and having it pivot toward becoming more inclusive of “Swifties” is unprecedented.
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It’s a hot August night…thoughts are unfocused as there is still a lot of summer left. But... there is a nagging feeling in the back of your mind that the fall, the end of Q3, the beginning of Q4, and the new year of 2024 are accelerating around the track faster than we want to think about.
So, as the weekend approaches, what a great time for some everyday reflections through the lens of Business Acumen to keep the mind entertained and refreshed for what will be coming in a few weeks…
- LinkedIn has an overall of 675 million users from all over the world. Of those, 310 million of them are monthly active users. 165 million users come from the United States while 206 million come from Europe. 62 million come from India, and 50 million come from China. And yet every day in our Strategic Business Selling programs that train sales professionals to build a business network, only 28% of the salespeople in our programs believe there is any value in long-term social selling.
- My local supermarket is charging for bags. It’s only .10$ a bag but when you think about it, it has a double impact on the financials of the store. They are generating revenues (top line) and eliminating expenses to increase profit (bottom line) simultaneously! Hmmm...
- Auto telephone dialers for cold calling are the worst. Companies that use these systems need to rethink their strategy. You may get a few leads here and there, but unprepared telemarketers aimlessly calling the wrong markets and segments will kill your brand. And other brands as well!
- I spent over $7 for a 30-ounce bottle of Mayonnaise. I looked up the gross margin on Google and the research said the margins were around 14%. Not sure how that is possible. It goes to show you that if one element of the supply chain (eggs) goes out of whack it can hurt an entire product line and category.
As you are painfully aware, the average business professional receives about 300 emails a day. About 50% of them are unsolicited “cold” emails where the writer is trying everything and anything to capture the reader’s attention. Attention-grabbing subject lines, playing up on keywords, and sometimes flat-out exaggerations.
Just for fun and since it’s a nice summer Friday, I took a few moments to “respond” to some of the more "interesting" ones…
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