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Get your company’s growth metrics from right inside Slack

(ENTREPRENEUR NEWS) Growth Report for Slack helps you understand and fine-tune your startup’s growth engine by offering real growth metrics.

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Check your pulse

When it comes to starting or running a business, ensuring success is based on a variety of factors. One of the most important keys to expanding your business is measuring growth.

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By keeping up with well designed products or marketing analytics, business leaders will almost ensure they can continue to grow, or at the very least they will be able to identify problems before they become too great and mitigate them. You want to make sure you keep a pulse on your performance, especially if you have your own business.

What is the Growth Report?

This is where the Growth Report comes in to provide the much-needed metrics from which businesses can derive insights regarding their growth. Growth Report helps you understand and fine-tune your startup’s growth engine.

The service was created by Alex Cook, who comes from a user growth background. According to Cook, “One of the most powerful things you can do to grow faster is to understand how you’re currently growing, set a weekly growth goal (5%, 7%, 10%), and then force yourself to look at the results each week.”

This is why he set out to assist businesses by offering his growth report.

Metrics at your fingertips

Growth Report works by sending you daily and weekly growth metric reports.

The reports contain the most important metrics to monitor the performance of your company growth.

Metrics include weekly growth, which monitors the amount of growth for your company and compares it against a growth goal you set. Other metrics include the number of new users who are engaging with your product by signing up for authenticating usage.

Retention is another metric, which focuses on whether people are sticking around by keeping tabs on people who signed up a while ago and what their habits are with your product. The final major metric included in the growth report is acquisition, which gives you information on how many new users have signed up.

The Growth Report can either be emailed to you or sent via Slack. This is one of the added bonuses of the report because it means you never have to log into a tool or use a spreadsheet to see your most relevant metrics. If you’re interested in getting your own Growth Reports, you can get beta access for free.

#GrowthReport

Nichole earned a Master's in Sociology from Texas State University and has publications in peer-reviewed journals. She has spent her career in tech and advertising. Her writing interests include the intersection of tech and society. She is currently pursuing her PhD in Communication and Media Studies at Murdoch University.

Business Entrepreneur

How to effectively share negative thoughts with your business partner

(BUSINESS) You and your business partner(s) are in a close relationship, and just like a marriage, negative emotions may play a role in the relationship.

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You and your business partner are in a relationship. Your business was born when you shared a common vision of the future and became giddy from the prospect of all you could do together that you couldn’t do alone. Now, you spend much of the day doing things together in collaboration. The stakes are high; there are obstacles to overcome, decisions to make together, deadlines to meet, and all the stresses of running a business.

It’s no wonder a business partnership can often be just as complicated and emotional as a romantic relationship. If you are struggling with your business partner, you might find helpful advice in resources originally targeted towards troubled couples.

Relationship expert Dr. Jeffrey Bernstein has explored how to share “toxic thoughts” with your partner. In a linked article, Bernstein describes toxic thoughts as distortions of the truth that cause us to overemphasize the negative attributes of our partner.

Some examples of toxic thoughts include blaming your partner for larger problems that aren’t really their fault, inaccurately assuming your partners intentions, or resenting your partner for not intuiting your needs, even if you haven’t expressed them. The defining characteristic of these toxic thoughts is that, although they may be based in the truth, they are generally exaggerations of reality, reflecting our own stresses and insecurities.

Just as much as in a love relationship, these toxic thoughts could easily strain a business partnership. If you find yourself having toxic thoughts about your business partner, you will need to decide whether to hold your tongue, or have a potentially difficult conversation. Even when we remain quiet about our frustrations, they are easily felt in the awkward atmosphere of interpersonal tension and passive aggressive slights that results.

Dr. Bernstein points out that being honest about your toxic thoughts with your partner can help increase understanding and intimacy. It also gives your partner a chance to share their toxic thoughts with you, so you’d better be ready to take what you dish out. It might be hard to talk about our frustrations with each other so candidly, but it might also be the most straightforward way to resolve them.

Then again, Bernstein points out, some people prefer to work through their toxic thoughts alone. By his own definition, toxic thoughts are unfair exaggerations of and assumptions about our partner’s behavior. If you find yourself jumping to conclusions, assuming the worst, or blaming your partner for imagined catastrophes, perhaps you’d better take a few minutes to calm down and consider whether or not it’s worth picking a fight about. Then again, if you’re self-aware enough to realize that you are exaggerating the truth, you can probably also tease out the real roots of any tension you’ve been experiencing with your business partner.

If you are going to get personal, shoulder your own emotional baggage and try to approach your partner with equal parts honesty and diplomacy. Avoid insults, stay optimistic, and focus on solutions. State your own feelings and ask questions, rather than airing your assumptions about their intentions or behaviors. Keep your toxic thoughts to yourself, and work towards adjusting the behaviors that are making you feel negatively towards each other. Your business might depend on it.

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Business Entrepreneur

How to know when it’s time to go freelance full time

(ENTREPRENEUR) There may come a point when traditional work becomes burdensome. Know how to spot when it is time to go full freelance.

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Freelancing is often thought of as a mythical concept, something that is almost too good to be true. While it isn’t all about hanging out at home in your pajamas all day, being a freelance is something that is completely possible to be successful – assuming you do your homework.

Recently, a friend of mine who is a licensed esthetician was no longer happy with her position at the salon and spa she worked for. The set hours were becoming a burden, as was having to divvy up appointments between another esthetician within the salon.

She noticed an increasing number of people asking her if she could perform services (eyebrow and lip waxing) from her home, as they preferred not to go into the hectic salon. My friend also found an increase in requests for her to travel to bridal parties for their makeup, rather than the parties coming into the salon.

It was around this time that my friend began to seriously consider becoming a freelance esthetician, rather than a salon employee. After about six months of research and consideration, she decided that this was the best route for her.

Below are the reasons she felt ready to pursue this option, and if they resonate with you, you may be ready for a full time freelance career.

1. She had a number of built-in clients and a list of people she could contact to announce her at-home services. Doing this at the start of one’s career would be very difficult without a contact list and word-of-mouth references, so it’s important to have…

2. …experience! My friend had worked for a number of salons over the years, and had the experience of working with all different types of clients. She also learned what she liked and didn’t like about each salon, which were pieces that factored into her own work-from-home space.

3. Since she had years of experience and had done all of the necessary aforementioned research, she knew what was expected of her and knew that getting a freelance career off the ground wouldn’t be a walk in the park. Operating a freelance career is completely on you, so you have to be 100 percent dedicated to making it work – it won’t just happen for you.

4. Once she began thinking about this idea nonstop and became more excited, she knew it was time to move forward. At first, the “what ifs” were daunting, but became more positive as time went on. If the idea of being a freelancer elicits more smiles than frowns, definitely take the time to consider this option.

5. In addition to the clients she already had, she also had an amazing support system who helped her develop her freelance brand and get her at-home business up and running. Having a solid group of people in your life that will help you is crucial, and any offer for help should be appreciated.

Other things to consider are: do you have enough money saved in case the freelance venture takes longer than planned to take off? If not, maybe stick with the day job until you feel more financially secure.

Jumping into something too quickly can cause you to become overwhelmed and drown in the stress. Make sure you’ve covered every single base before making this leap. Good luck, freelancers!

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Business Entrepreneur

Startup helps freelancers find trusted partners for overflow work

(BUSINESS NEWS) Covailnt is a service for freelancers that takes the mystery out of collaborating, helping us all to focus on what’s in front of us.

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covailnt freelancers overflow

Trying to balance work and networking can be a huge pain even as a traditional worker; for freelancers, maintaining both categories is often downright impossible. If you’re struggling to make meaningful partnerships in the freelancing world, Covailnt may have a solution for you.

Covailnt takes the mystery out of freelancing, which—unlike romance—could do with a bit less guesswork. The service is best described as a combination of a workflow app and a social network, but its core function is to serve as a database of freelancers. Each person who signs up for Covailnt fills out a profile which includes skills, availability, location, and a portfolio; as a Covailnt user, you can use this information to determine whether you want to work with the person.

The ability to review a freelancer’s highlight reel without having to initiate a conversation is sure to be a time-saver, and you get to avoid the awkward follow-up conversation to boot.

Time efficiency is clearly a strong influence on Covailnt’s platform: each freelancer’s surface-level profile prioritizes the preview window to display their level of business, using metrics from “Not Working” all the way through “Slammed”. Having this information front-and-center makes it easy to differentiate between who in your network might be available for overflow work and who you shouldn’t contact for the time being.

Covailnt also makes it easy to find compatible people with whom to collaborate. In what always seems to be the case when a group project emerges, your go-to collaborator might be too busy to handle a joint effort, and not everyone has the time to troll through the classifieds in search of a temporary partner. Searching for a like-minded, similarly skilled freelancer via Covailnt can significantly cut down on the time you spend looking and help you prioritize the work itself.

Beyond its site-level features, the coolest part of this service is that it allows you to build a network of talented people with whom you share interests, goals, and workstyles. Once you’ve established such a network, you may find your work queue filling up with things you actually care about, enabling you to push some of your less enjoyable work to someone in your network who will give it the care it deserves.

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