Predictive analytics killed Subway’s $5 footlong. While the retirement of the sandwich chain’s famed economical menu item was bad news for sandwich fans, it provided a significant upside for Subway: increased profits. Predictive analytics gave the sandwich giant an unexpected insight—the increased sales brought about by the promotion weren’t offsetting the discounted price. As a
At just 18, Gaby Bayona started making dresses out of her apartment with nothing but a sewing machine, some fabric, and the skills she picked up working alongside her mother, a professional seamstress. A decade later, she leads a team of 40 across multiple bridal brands and four retail stores—all while keeping production local in
In today’s competitive corporate landscape, strong customer loyalty can mean the difference between a surviving business and a thriving one. What’s one way to bring customers in and have them come back for more? An enticing rewards program. Small business rewards programs can be a cost-effective way to build trust with customers and encourage repeat
It takes more than 14 different instruments to play Beethoven’s Symphony No. 9. Performing this complex piece of music requires a lot of behind-the-scenes teamwork. Groups of musicians start working together long before the conductor assembles the entire orchestra. If even one of the instrument sections doesn’t prepare and ultimately play their part, the entire
Whether you need to fund a project or cover business expenses, there are plenty of financing options out there. Many small business owners turn to business loans and business lines of credit, the two most popular funding options in the Federal Reserve’s Small Business Credit Survey. But what’s the difference between a business line of
So you had your eureka moment—congrats! But your great idea is just the first step to starting a business. You may also need funding to cover your startup costs and, eventually, fund your growth. Raising capital is an obstacle some businesses never clear. According to federal data, about 22% of new businesses fail within their first
Think of your finances like a busy train station—your personal and business funds are two different lines running on separate tracks. Mixing them in one account is like sending every train to the same platform: confusing, inefficient, and risky. A checking account is one of the key tools for managing your finances. But it’s important
Let’s say you’ve got a $10,000 marketing budget. Should you go all-in on paid advertising, allocate a portion to influencer marketing, or invest in search engine optimization (SEO)? Some entrepreneurs get giddy in the face of decision-making, others get the jitters, and most experience both at some point. But the ability to make good choices
High-quality, up-to-date website content is important for all businesses. It’s particularly critical in the ecommerce space, where it functions as a storefront, greeter, sales team, and customer service desk. Strong site content can also support your digital marketing strategy by improving your performance in search results and encouraging your target audience to convert. Ecommerce businesses
In the traditional startup playbook, entrepreneurs typically develop a product, test it with customers, generate some sales, and then approach investors with data in hand. But Evan Quinn, cofounder and CEO of Hiyo, flipped this script. While getting his MBA at UCLA Anderson in 2019, a personal crisis involving family members hospitalized with alcohol-related incidents
