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Results from a clinical trial show that Merck’s antiviral pill for COVID-19 is effective, the company said Friday.

The antiviral, molnupiravir, cut the risk of hospitalization or death in half for adults who were deemed at risk but not hospitalized, according to a planned interim analysis of the trial.

Compared to the 14.1 percent of patients who received placebos, 7.3 percent of trial participants who received the drug were hospitalized through day 29, the company and its partner Ridgeback Biotherapeutics said.

Eight people died in the placebo group and zero did in the group given molnupiravir.

Based on the findings, Merck plans to apply to the Food and Drug Administration (FDA) soon for emergency use authorization for its drug.

“With these compelling results, we are optimistic that molnupiravir can become an important medicine as part of the global effort to fight the pandemic,” Robert Davis, Merck’s CEO and president, said in a statement.

“We are very encouraged by the results from the interim analysis and hope molnupiravir, if authorized for use, can make a profound impact in controlling the pandemic,” added Wendy Holman, the CEO of Ridgeback.

The drug works by inhibiting the replication of the virus that causes COVID-19. The virus is known as SARS-CoV-2 or the CCP (Chinese Communist Party) virus. So far, the only drugs authorized to treat COVID-19 are monoclonal antibodies, which run over $2,000 each and take more time to administer than a pill. However, clinical trials on drugs approved for other uses, including the antidepressant fluvoxamine, have shown promise against the disease.

The molnupiravir trial analysis evaluated data from 775 patients who had laboratory-confirmed cases of COVID-19. None had received a COVID-19 vaccine. The phase 3 trial was meant to enroll 1,550 patients, but enrollment was stopped at the recommendation of a Data Monitoring Committee in consultation with the FDA. The trial was conducted at sites around the world, including in the United States. Full results have not yet been released. Merck did not immediately respond to emailed questions.

The company did say that the analysis found an incidence of adverse events comparable between the groups, with 35 percent of participants getting its drug experiencing an event and 40 percent of the placebo group experiencing an event. The incidence of adverse events described as being related to the drug was similar between the groups.

Merck has already been producing doses of molnupiravir in anticipation of the results from the trial and projects to produce 10 million courses by the end of the year. The United States earlier this year agreed to buy approximately 1.7 million doses upon emergency authorization or approval from U.S. drug regulators. Each course, which involves multiple pills, will cost the government $705 if the agreement kicks in.

Dr. Walid Gellad, professor of medicine at the University of Pittsburg’s School of Medicine, said the antiviral would be “a game changer” and urged the FDA to prioritize granting it authorization.

Other experts noted that the data has not been peer reviewed but said the results appeared encouraging.

Two other companies are also racing to develop antiviral pills against COVID-19.

Pfizer launched two trials of its oral drug last month while Roche is also studying its version. 

By Zachary Stieber

 

Zachary Stieber covers U.S. news, including politics and court cases. He started at The Epoch Times as a New York City metro reporter.

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A groundbreaking interactive series featuring companies that are letting viewers Click-to-Invest while they watch.


4 min read


Brought to you by Going Public

When a company goes public, the average investor generally can’t invest before the IPO. That’s often reserved for institutional investors — leaving the everyday American to invest afterwards. But that’s about to change — thanks to a groundbreaking new show debuting on Entrepreneur.com on October 19th. Watch the world premiere trailer by clicking here
Going Public® is the first interactive series where viewers can Click-to-Invest in featured deals while they watch. This series follows the stories of entrepreneurs on their capital raising journey as they launch their public offerings. Combining elements of popular show formats like Shark Tank and American Idol, the viewer can now play an active role by deciding whether to invest while they watch.

The companies featured on Going Public will actually launch live investment campaigns and give viewers access to the deals. This means that if you watch the show and believe in one of the entrepreneurs you see, you can participate in their public offering.
 

More About the Show

Going Public is the brainchild of Todd M. Goldberg and Darren Marble, co-founders of Crush Capital, Inc., a pioneering new entertainment company operating at the intersection of fintech and capital markets. The show is being produced by Emmy-nominated studio INE Entertainment, whose previous reality-show credits include The Biggest Loser and MasterChef.

Companies on the show will utilize a capital raising tool known as Regulation A, made possible by JOBS Act of 2012. This is what enables regular viewers to invest in their public offerings.

Regulation A+ or “Reg. A+” is a securities registration exemption that allows companies to raise up to $75 million, market their deal broadly, and permits anyone over the age of 18 globally to legally invest. 

Reg A+ was designed to both democratize access to capital for emerging businesses, and to level the playing field for retail investors.

Season 1 of Going Public will follow three companies who will be offering real-time investment opportunities to the viewers. That’s one of the reasons we partnered with Entrepreneur.com. The stars of this show are the diverse cast of entrepreneurs themselves. Going Public chronicles their journey as they launch their public offerings to viewers who can now Click-to-Invest, while they watch.

Television viewers aren’t new to interactive shows. From American Idol to Big Brother, where the fate of a contestant or cast member rests with the audience, viewers have enjoyed playing a role in the outcome of these shows. That’s one of the main reasons why you won’t see Going Public on broadcast television. The uniqueness of the real-time opportunity is a key disruptor of this older television format. American Idol pioneered “Text-to-Vote,” and Going Public is pioneering “Click-to-Invest” in this high-caliber, business-entertainment meets capital-markets docuseries.
 

Who You’ll See

The show’s first season is hosted by Lauren Simmons, the youngest-ever female trader on the floor of the New York Stock Exchange and only the second Black woman to have ever held such a role.
The entrepreneurs featured on the show include TREBEL, whose mission is to bring premium music to five billion consumers for free; PROVEN Skincare, which is revolutionizing skincare with personalization, big data, and AI; and Hammitt, an emerging player in the prestige handbag market. Each company is attempting to capture a share of extremely competitive industries where there are few dominant players including Spotify (NYSE: SPOT) Unilever (NYSE: UL) and Coach (NYSE: TPR).

Throughout the show, the featured entrepreneurs will meet with mentors who provide them with tough love and priceless leadership advice. These people include Jeff Hoffman, Chair of the Global Entrepreneurship Network (GEN) and Executive Producer of Going Public; Jaime Schmidt of Schmidt Naturals; and Josh Snow of Snow Oral Care.
 

To watch Going Public, just visit Entrepreneur.com on October 19th. Watch the world premiere trailer by clicking here!

 

Securities offered by Dalmore Group LLC, member of FINRA (www.finra.org), member of SIPC (www.sipc.org).

With respect to Hammitt, please see Offering Circular here.

With respect to PROVEN, please see Offering Circular here.
With respect to TREBEL, please see Offering Circular here.

Disclosure Regarding Going Public and the role of Crush Capital: Click here.
17(b) Disclaimer: Click here.



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Dollar Tree, known for selling $1 items, will start testing higher price points in what it’s calling a “multi-price evolution” driven by a combination of customer demand and inflation.

The company, which operates over 15,000 stores across the United States and Canada, said in a Sept. 28 release that customers have welcomed the rollout of Dollar Tree Plus and Combo store formats, which offer items at higher price points.

“For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar—and we remain committed to that core proposition—but many are telling us that they also want a broader product assortment when they come to shop,” the company’s chief executive, Michael Witynski, said in a statement.

While the company’s press release made no mention of inflation, Witynski told The Wall Street Journal in an interview that higher costs— including materials, wages, shipping—were also a factor.

Investors welcomed the announcement, with Dollar Tree Inc. shares shooting up around 15 percent on the news.

“Our brand promise is that customers get great value for what they spend at Dollar Tree,” Witynski said. “We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50.”

With the announcement, Dollar Tree has become the latest retailer to look at passing on at least some of the rising costs to customers.

Costco’s chief executive recently estimated the average price inflation of the goods the retailer is selling to fall in the 3.5–4.5 percent range, though the high cost of plastics and resins led some items—like trash bags and plastic cups—to go up by as much as 11 percent.

Surging prices have been a headline theme amid the economic recovery, rising faster than wages and eroding the purchasing power of Americans.

Core personal consumption expenditures (PCE) inflation, which excludes the volatile categories of food and fuel and is the Fed’s preferred gauge for price growth, has risen sharply in recent months, well above the central bank’s 2 percent target.

In April of this year, core PCE was 3.1 percent, rising to 3.5 percent by May and 3.6 percent in June and July, the latest months of available data from the Commerce Department.

While Fed officials have expressed concern about price pressures, they predict that the high rate of inflation is a transitory phenomenon. Still, they acknowledge there’s a risk that price pressures will be stickier than previously anticipated.

New York Federal Reserve Bank President John Williams said Monday that consumer expectations for what the rate of inflation will be several years down the road remain “well-anchored” around the Fed’s 2 percent objective, though he said there are upside risks and a “great deal of uncertainty” around the inflationary outlook. 

By Tom Ozimek

 

Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communications, and adult education. The best writing advice he’s ever heard is from Roy Peter Clark: ‘Hit your target’ and ‘leave the best for last.’

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This story was originally published on CO— by U.S. Chamber of Commerce and was written by Mark Hamstra.

Mega brands including Hot Wheels, Barbie and Looney Tunes are forging licensing collaborations that align with social causes and tap into the hot digital collectibles market — trends that businesses of all sizes can monetize, too: That’s because they’re courting younger audiences via the buying triggers shaping how they shop for toys to T-shirts today, executives said at the 2021 Licensing Expo attended by CO—.

Dr. Seuss and NFTs: ‘This is a whole new way of interpreting the characters’

Dr. Seuss Enterprises, for example, is preparing to roll out its first NFTs (non-fungible tokens), which are limited-edition or one-of-a-kind digital works of art that have rapidly become collectors’ items, and are particularly popular among young consumers. They are traded on digital networks and such as Ethereum and often bought and sold using cryptocurrencies.

“We are jumping in in a big way with our characters,” said Susan Brandtpresident, Dr. Seuss Enterprises, which publishes the popular children’s books featuring characters such as The Grinch and Horton the Elephant. “This is a whole new way of interpreting the characters.”

Likewise, Mattel recently unveiled Hot Wheels NFT Garage, which is a line of NFTs leveraging the toy company’s iconic toy car brand. The line debuted with three one-of-a-kind digital versions of popular Hot Wheels cars that Mattel auctioned off this summer.

“We put a lot of thinking into it,” said Richard Dickson, president and chief operating officer at Mattel, who noted that it was the company’s first foray into the NFT space.

Robert Marick, executive vice president of global consumer products and experiences at MGM, said consumer interest in NFT collectibles “opens up a whole new world of collaborations” for licensors.

“I am excited to see what that morphs into in the years to come,” he said.

Similarly, he said MGM properties such as the James Bond movie franchise also lend themselves to digital formats popular with young consumers, such as video games. Getting a licensed brand into a video game tends to have a ripple effect, spilling over into other licensing opportunities in the form of new products and experiences.

Related: Google, Walmart’s Outdoor Chain, QVC and More on Turning Inspiration Into Innovation

Aligning with social causes: Recycled plastic Barbie hits shelves

Brands are also reaching consumers by focusing on social causes, such as sustainability and diversity.

Barbie, for example, recently launched its first doll made from recycled plastic, called Barbie Loves the Ocean, supported by the tag line, “The future of green is pink.”

Millennials and Gen Z are attracted to brands that demonstrate a purpose, said Dickson of Mattel, which owns the Barbie franchise.

“Our brands have been purpose-built right from the start,” he said, noting that the company’s corporate values around diversity and inclusion are also woven into the stories of each of its brands.

Dr. Seuss also lends itself to tie-ins with social causes, said Brandt, citing the success of the company’s partnership with sustainable clothing brand Tentree and the Dr. Seuss book, “The Lorax,” about a character who “speaks for the trees” against forces that would destroy them.

The partnership has generated millions of social media impressions, she said, keeping the Dr. Seuss character front-and-center among consumers interested in sustainability.

Related: Not Just Skin Deep: Marketers From CVS to Startup Geenie Take on Mental Wellness in the Beauty Aisle

Expanding e-commerce via DTC ventures

As they lean into trends, licensors are also expanding their reach through direct-to-consumer (DTC) platforms, although they have to tread carefully to avoid conflict with their brick-and-mortar and e-commerce partners, executives said.

Mattel, for example, has established a new DTC brand called Mattel Creations that features limited-edition collectibles. The goal of such DTC ventures is to complement the offerings of other retailers, said Dickson.

Similarly, Warner Bros. also has its own DTC e-commerce and retail channels, but works closely with its retail partners to understand their customers.

“We lean into what the retailer wants in terms of what they see as the bigger opportunities,” said Pam Lifford, president, WarnerMedia Global Brands and Experiences.

Data analytics are key to ensuring that licensed products appeal to the specific consumer demographics of each individual retailer, she said.

“It’s not just important for us to understand who our customer is, it’s also important for us to understand who is walking into the Walmart environment and the Target environment, and understanding what their needs are, and then bringing those two things together,” said Lifford.

Case in point: Licensed product related to the Looney Tunes-themed movie Space Jam: A New Legacy, has been a strong success, she said.

Warner Bros., which owns the Looney Tunes and Space Jam franchises, worked closely with LeBron James, the pro basketball player who is the star of the most recent incarnation of the movie property, along with his sneaker partner, Nike. (The new movie comes 25 years after former pro basketball player Michael Jordan launched the first hit Space Jam movie in partnership with Warner Bros. and Looney Tunes.)

“The fact that that we showed up in all the right places at the right time, integrated with the right [intellectual property] — it’s pretty special,” said Lifford.

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How often do you reinvent yourself? Sometimes we do it automatically and sometimes because the environment forces us. The COVID-19 pandemic was undoubtedly one of those times when we had to restart various systems and paradigms that we were used to.

Prateek Katyal vía Unsplash

And, although, little by little the reactivation begins, we can still find events completely online that we can attend from anywhere on the planet and hybrids that combine the best of both worlds.

In this context, on October 13 and 14 the hybrid version of Social Media Week Mexico 2021 will be held , which seeks to generate dialogue between digital leaders and the audience around the theme “REINVENTION”.

Image: Courtesy of SMWMexico.

Right now we are in the midst of a great reinvention of both society and business and ourselves personally. Importantly, systems undergo a stress test.

“All the systems come from public health, education, government infrastructure, business and, also marketing, and in 2020/21, many of these systems failed or collided with their own arrogance,” the experts explain.

According to the spokesmen of Social Media Week Mexico, some of the failures of the marketing system are:

  • Focus on the tactic and forget the strategic truths
  • The short-term view of looking at short-term profits
  • Exalting any trend or the most striking thing in social networks
  • Don’t think of smart data more than big data
  • The inability of marketers to put themselves in the shoes of their customers and lead with empathy.

During the pandemic, many brand messages were inconsistent and many leaders, completely out of their comfort zone in the way of marketing, and there was a disconnect vacuum with their audience.

According to experts, some of the brands that did stand out in this situation were Postmates, P&G, Clorox, Aviation Gin and Airbnb, since their brand values, their leadership, and their messages were previously aligned to something bigger than themselves. .

So we ask ourselves: how should marketers reinvent themselves and respond to the challenges of our time?

Crises bring inventions and this is achieved through constructive resilience. But what should be invented and what should be reinvented?

In her October 2020 article ” The ABCDE of Marketing Re-Invented “, Rishad Tobacawala addresses this question by developing a framework on how marketing has changed and how it is changing in the future.

  • A = Audience
  • B = Brand
  • C = Content
  • D = Data
  • E = Company.

By adapting to the ABCDE framework for reinvention, the organizers of Social Media Week Global drew up a list of questions that represent priority areas that we can or should focus on:

  • Audiences: How can we think of people and not consumers?
  • The brand: How should experience and purpose influence brand strategy?
  • The content: It has always been the key to marketing, but now there are trends in TikTok and IG Reels minute by minute, there are new ways to do it, faster and cheaper, so how do we break through the noise?
  • Data : How can we focus on quality versus quantity?
  • Company: A current company that wants to survive must show transparent information and decision-making and its leaders must be responsible. How do we empower people and inspire leaders?

Where does this reinvention begin?

Of course, like many change processes, reinvention begins with recognizing what does not work, asking ourselves difficult and important questions, and willing to accept the transformation, no matter how expensive or uncomfortable it may feel in the first place. This will allow anyone to survive and walk into the future.

It is time to reevaluate and rebuild systems that lead to a less divisive, more transparent and just world.

To participate in #SMWMexico during 2021, check their Social Media Week Mexico City page or follow them on social networks where you find them as SMWMexico Fanpage.

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Ready to start your business? Many who start a business launch in the industry they have been working in already have some familiarity. Due to this, many assume they know what they need, especially regarding overhead, such as office space, equipment, employees, and other factors. However, this is a flawed approach, as many do not start and budget for any brand identity or strategy, as the assumption is made that “if you build it, they will come.” This assumption can result in a costly pivot after launch or, worse, higher and unnecessary overhead costs that could delay or prevent business growth. How does an entrepreneur ensure that this does not happen? 

Related: If You’re Not Approaching Your Brand This Way, You’re Losing Customers

Start with a strategy first

While the idea is just a concept, before the first conversation with a bank, landlord, investor, or other parties, start with a brand strategy. Identify what type of brand your business will be and an initial concept of the customer base. In addition, begin developing goals for the first six months, year, five years, and more. What do ‘wins’ look like in those time frames? What is truly necessary to spend now, and what can wait? With sound strategy, many startups can use incoming revenue after opening to help fund additional expenses if required, rather than purchasing everything at once before launch. With sound strategy first, an entrepreneur can spend both less and better and realize better results. 

Related: 3 Tips for Mastering Storytelling as a Small Business Owner

Work with a team of experts to ensure your brand identity 

While many marketing agencies claim to assist new startups and existing businesses with their brand identity and clarity, entrepreneurs should be cautious of such claims. Some agencies are more interested in a monthly retainer or pushing companies to purchase services and deliverables that may be unnecessary for business growth but instead helps the agency in an area where they may not have enough work. While an entrepreneur should always do their due diligence, this is one of the critical areas required. Ask for references, and check those references. Ask other businesses how the agency has helped and what impact the recommended strategies had on their business. 

Define the “me only” differentiator

One of the first steps in working with an agency is to define the “me only” differentiator. Not a “me too” or a “me better” difference, but something offered in a way that the customer base wants it and cannot source, or perceives they cannot source elsewhere. Getting the help of brand strategy professionals with experience navigating this process is critical, especially before launch. Determine competitors, the value or perceived value those competitors bring to the market, and then determine what differentiating factors separate all in the market. 

Related: How to Craft a Compelling Brand Story That Drives Sales

Consistently evaluate and pivot when required

After launch or opening, evaluate the brand strategy. What is working and what is not? Are there other opportunities for the business that are not currently realized? In choosing and working with an agency, make sure it is an agency that can produce on strategy both before launch and after. It is not enough for an agency to create videos or social media content, ensure that the agency can build a strategy that promotes continued growth and expansion.  

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Whether you have a good year or miss your revenue goals, all entrepreneurs and small business owners want to boost their bottom line. One simple way to do this is by changing the payment method you use for business expenditures.

Choosing a credit card that earns rewards is essential for scaling startups and small businesses. Selecting a card with cashback rewards can add to your bottom line as you invest in your company. It is literally a way you can “spend money to make money.”

Related: How Entrepreneurs Can Scale And Save Money Without Startup Capital

How cash-back cards can help your business

As a consumer, you are likely aware of the many options for cash-back credit cards on the market today. Companies like Capital One, American Express, Chase and others aggressively advertise on TV, via mailers and other media.

You might see these advertisements and recognize the value of a cash-back credit card. You might even use one in your personal life. Many entrepreneurs and small business owners, however, do not connect the benefits of a cash-back card to their business.

Cash-back credit cards for businesses pay you back a percentage of the money you spend on business-related expenses. This includes expenditures on supplies for the office, gas and accommodations for business-related travel, vendor services and more.

The amount of cashback varies by card. Most companies offer a cash-back rate ranging from 1.5 percent to 5 percent. Such a refund might seem small, but the money you receive adds up when you consider how much you spend on your business.

Related: How to Choose a Business Credit Card?

Recouping money from a cash-back program directly offsets a portion of the money you spend on your business. This is money that goes straight to your bottom line without requiring extra work or expenditures on your part.

For example, our agency uses the Capital One Spark Pro credit card, which provides two percent cash back. This can augment our revenue by as much as $100,000 without adding to the payroll or requiring us to take on more projects.

What to look for in a cash-back credit card for your business

Entrepreneurs have a number of choices for credit cards with cash-back programs that are specially designed for business owners. When considering a cash-back credit card, evaluate the following:

Cash-back rate: How much money you are awarded for your business spending is not just a question of more. Although you want to maximize your cash back, it is also important to assess the other features of the card before you apply.

Minimum purchases: Some programs require you to spend a minimum amount of money before you are eligible for cash back. For entrepreneurs and small business owners with a high volume of business expenses, this is generally not an issue. However, if the monthly minimum is higher than what you typically spend, it may be best to look for a different card.

Spending categories: The awards on purchases vary by cash-back program. Some cash-back cards provide full reimbursement on any expenses related to your business, while others offer varying levels of cash back for different types of purchases. Be aware of the different levels of cash back when you sign up for a credit card and carefully review the terms and conditions so you are not confused by your rewards.

Cap-on rewards: The majority of programs offer cash back on all eligible purchases with no spending limit. However, some cards only provide the maximum cash back on purchases up to a certain amount of spending. Once you exceed this amount, your benefits are reduced. If you spend a lot on your business, you will want to make sure that your cash back is not subject to a cap. 

Bonuses: The attraction of cash-back credit cards is not limited to the extra money you earn on purchases. Programs vary in their incentives, but you may be able to take advantage of bonus cash after your spending reaches a certain level, $0 annual fees and more.

As with any credit card, it is also important to budget for annual fees, APR and other costs. Cash-back programs can help defray some of the expenses associated with the card, but you want to be aware of fees and interest rates that offset the money added to your bottom line.

Related: What 6 Money Pros Wish They’d Known About Credit Cards

Adding it all up

Many entrepreneurs have maxed out credit cards and even gone into debt to get a business off the ground. Given the expenses associated with starting and running a small business, credit cards can seem like both an essential ally and — when the balances are high — an implacable adversary.

Cash-back credit cards enable entrepreneurs and small business owners to invest in the company while getting something back. The rewards may seem small in terms of percentages, but the money you are reimbursed on purchases can add up to a large chunk of change.

Ultimately, businesses with a lot of purchases can add hundreds of thousands of dollars to the bottom line without having to work harder or hire more people.

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After years of struggling to make ends meet, your business is finally booming. Old clients are referring new clients, new clients are taking notice and your staff can barely keep up with the influx of client-related tasks.

The boutique business model you worked so hard to create has worked better than you ever dreamed and you are nearly drowning in new business. The phone keeps ringing and the prospects for the future look incredibly bright. By all accounts, life couldn’t be better. So why is everything suddenly so challenging?

Related: Why Does Coaching Matter for Entrepreneurs?

Just when a robust workforce is more important than ever, some of your best talent is quitting. The rest of your staff is stressed to the max as they work around the clock to manage a burgeoning workload. A behind-the-scenes balancing act is holding together an uneasy peace.

The growing pains are real and how your organization handles them will shape your company’s future. It’s a pivotal time for your team that must be addressed with care.

Proceed with caution

During these periods of rapid growth, companies need to hire quickly to accommodate the increasing workload, but it is important to be smart about it. With so many variables in play, statistics on the long-term success rate for startups are not in your favor. According to Fundera, 20 percent of small businesses fail the first year, 30 percent fail the second year, 50 percent fail within the fifth year of business and 70 percent fail by their tenth year.

Causes of failure

Let’s consider why startups collapse in the first place. According to a research brief by CBInsights, the causes for failure range from no market need, poor marketing and inadequate finances to having the wrong management team, burnout, legal challenges and a lack of passion among employees.

In other words, miscalculating your target market and personal capabilities can be disastrous.

Entrepreneurs who don’t do their homework and don’t adjust to ever-evolving market challenges are setting themselves up for failure during periods of growth. Successful businesses can pivot quickly in the face of a bad hire, a poor product or misguided decision whether they are experiencing a lull or a growth period.

For example, the smart luggage manufacturer Bluesmart shut down in 2018 after most major US airlines began requiring passengers to remove lithium-ion batteries from their checked luggage, CBInsights reported. The company couldn’t pivot because their product relied upon lithium-ion batteries to operate.

Related: Morning Brew Founder Alex Lieberman Isn’t an Overnight Success. Instead, He’s Harnessing the ‘Balloon Effect’ — Here’s What That Is

In another instance, an e-commerce startup DoneByNone failed because of poor customer experiences. The company illustrated that getting distracted in the race to the top and forgetting your customers’ needs can be a company killer.

The CBInsights study shows that many companies nosedive when they don’t spend enough time talking to customers, rolling out features or getting feedback from clients. Squabbling over company goals, mission statements and management hierarchies can also sink a ship.

Preparation, planning and a careful evaluation of the existing marketplace will save you time, money and loads of disappointment during periods of rapid growth.

Stay true to core values

The best way to make sure you are on track is to retain your company’s core values, no matter how fast or slow your organization grows. A company’s core values are its roadmap to success and will steer the organization in the right direction, even if it means navigating some bumps along the way.

If you built your company’s reputation on top-notch customer service, then stay the course and make sure you continue to provide the same quality of goods or services that vaulted you to success.

Here are 4 tips to manage growing pains as you progress to the next level:

  • Create mechanisms for quality control. The products or services that got you to the top should never suffer because of growth.
  • Hire carefully, making sure each new employee is inducted into the company culture. Introductions to existing employees are important when so many people are working remotely, and it is easy to feel disconnected. If face-to-face introductions are out of the question, video conferencing can be a good alternative.
  • Show appreciation to people who have been with you through the ups and downs of the company’s earliest days. Loyalty to those who helped you get where you are today is one of the keys to successful growth. Startup CEOs and C-suite leaders rely upon devoted employees who will stick with him or her through thick and thin.
  • Provide management and leadership training. Employees don’t instinctively know how to manage. Employers must invest in leadership training so when employees move into positions of authority they can learn how to effectively manage others.

If your company has reached that sweet spot in growth where business is booming, staffing is lean and work is piling up, then hold on tight. Dig deep, ask for assistance if you need it and remember help is on the way. Growing pains are temporary and commitment to abiding by these principles ensures that the best is yet to come.

 

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Twitter will now allow content creators to receive tips in the form of bitcoin from their followers and will launch a fund for users who are leaders in the audio chat rooms in Spaces, the company announced in a session with journalists.

Depositphotos.com

Convert followers to fans and fans to backgrounds

The microblogging social network wants to help content creators who contribute to public conversations through Super Follows, Tip Jar, and their hosts on Spaces.

What will this tool be like?

  • Super Follows : Twitter is testing Super Follows with a small group of creators on iOS, in the United States. This is a monthly subscription service so that creators can charge for an extra level of content, such as behind-the-scenes opinions or private conversations, so their followers can have more of the content they like.

  • Tips: O Tip Jar, as it is known in English, allows you to send and receive payments through third-party services. Since May, a small group of people in the United States have had access to Tips, but today the tool has already been deployed globally for iOS devices. They also added more Tipped payment services so that people can do it with Bitcoin by using Strike , a payments application built on the Bitcoin Lightning Network, which allows people to send and receive bitcoins for free and instantly.

  • New Spaces Host Program: Twitter announced that it will soon introduce a Spaces Host program designed to provide financial, technical and marketing support to emerging audio creators interested in creating recurring content on Spaces.

More ways to tweet

The social network that became famous for only allowing 140 characters per message also announced today that it will open up new ways to open a conversation, beyond its current 280 characters.



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When most people go home and park their car in their driveway, they’ll lock it for extra safety precautions so that no one can break in or steal anything.

Twitter

Twitter via @ijayt205

Usually not on the list of potential carjackers? Giant black bears.

This was the case for one woman in a video that has since gone viral on Twitter who found an unlikely guest sitting in the driver’s seat upon walking up to the front door of her car.

Related: Teenager Goes Viral After Fighting Off Giant Bear to Save Family Dogs

The clip, presumably taken from security footage at the woman’s home, shows the woman walking towards a black Lexus SUV in her driveway while carrying a picnic basket.

As she approaches the open door and peers inside, she jumps back and attempts to close the door shut in a frantic frenzy, trying to jam it shet several more times before bolting back to the house and dropping the basket, leaving a trail of apples behind over muffled screams.

As she runs away, the black bear can be seen leaping out of the front seat of the car and running in the opposite direction before turning around and walking slowly back in the driveway and towards the picnic basket.

The nearly unbelievable clip has been viewed over 4.7 million times and received over 31,500 retweets.

“She gave the bear the Lexus,” Twitter user @ijayt205, who posted the clip joked, alongside several crying laughing emojis.

“The fact she tried to trap him in HER car,” Twitter user @SomaKazima pointed out.

“The fact she was still screaming tho off camera and the bear wasn’t even chasing her,” Skeeter Jay said. “But she was OUTTA there.”

The woman in the video and the location of her home have not been publicly identified.

The video is reminiscent of another viral video from earlier this summer where a teenage girl fought off a bear that was trying to enter her home and attack her dogs.

It is estimated that there are around 40 bear attacks around the world each year, with 23 reported fatal attacks by black bears on humans from 2000-2016.

Related: Why the ‘Save Ralph’ short went viral



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