Archive for the ‘Money’ Category

Zappos’ CEO Tony Hsieh recently tweeted this:

“$1.6 million mistake on sister site I guess that means no ice cream for me tonight. Details:

Apparently an employee had made a mistake while updating the prices on the web site, which meant that for a whole day, no item could cost more than $49.95. Some of their items cost a lot more. Ouch!

Now what do you do? In many organizations, a mistake like this would be the starting point for a witch hunt. Who is responsible? How did they screw up? What would be an appropriate punishment? [read]


image from  playhappy.files.wordpress.comTouring was supposed to be the savior of music. Live concerts are something fans can’t download, the story went, and thus will provide a reliable source of artist income to offset slumping profits from recorded music sales.  But while some artists do still make their livings from live performances, it’s not always the panacea that some would have you believe.

At least that’s what UK artists Imogen Heap, a successful artist by most measures, told her fans in a short series of tweets earlier this week.

“So expensive to tour! Just had a rather depressing meeting with tour manager. Record sales low (across the industry) really impacting me.”

“Sad truth is touring US especially such a monopoly. Audience end up paying double ticket price to the venue @Seattle_D. Huge mark up.”

“This may be the last tour in a while. A bit emotional. Ugh. Not easy keeping afloat in this climate!”

Source Hyperbot

Whether the work week is made up of two hours or two hundred, all freelancers, entrepreneurs, business owners, experts have one common goal: squeeze every last ounce of productivity out of time spent working. After all, time is money, and maximizing productivity is something that typically translates directly into bigger profits. But even the most experienced veterans of work can unknowingly fall victim to productivity killers and undermine their earning potential, or worse – willingly and actively participate in killing their productivity. Here are six productivity killers you need to watch out for to ensure that you stay productive, stay on point, and maximize your potential. [read eLance]

image from At its I/O Conference yesterday Google announced that it would open a store for paid and free web apps later this year. Outside deveopers will be able to sell via The Chrome Web Store which will support all major web platforms including Windows, Mac, Linux and of course, Google’s Chrome OS.

Why should the music industry care? Just as Apples iTunes App Store opened up new avenues to  deliver and monetize music, the Chrome Web Store will offers a new opportunity to reach a much larger set of potential customers – anyone with a computer or web enabled device. [read]

Here’s a simple MBA lesson: borrow money to buy things that go up in value. Borrow money if it improves your productivity and makes you more money. Leverage multiplies the power of your business because with leverage, every dollar you make in profit is multiplied.

That’s very different from the consumer version of this lesson: borrow money to buy things that go down in value. This is wrongheaded, short-term and irrational.

A few decades ago, mass marketers had a problem: American consumers had bought all they could buy. It was hard to grow because dispensable income was spoken for. The only way to grow was to steal market share, and that’s difficult. Enter consumer debt.

Why fight for a bigger piece of pie when you can make the whole pie bigger, the marketers think. Charge it, they say. Put it on your card. Pay now, why not, it’s like it’s free, because you don’t have to repay it until later. Why buy a Honda for cash when you can buy a Lexus with credit? [read Seth Godin]

Bloggers aren’t the only folks who struggle with the fluctuating incomes, of course. Many freelancers face the same issue, as do those whose pay is tied to commission. Creating a budget when your income fluctuates can be a frustrating experience. I’m sure that each of us finds our own ways to cope. Today, I want to share the method that I’ve developed. [read The 99 Percent]

Selling a Lot of iPhones Made Apple a Lot of  MoneyApple sold 8.75 million iPhones in the last quarter. That’s over double what they did a year ago. Which is how Apple nearly doubled their profits: Up 90 percent for their best ever non-Christmas quarter. [read]