Friday Five Business Briefing – October 27, 2023
Consumers business services
Here’s news you can use in a constantly changing business environment, including Michigan’s average personal income, how to overhaul meetings, tips from big names on growing small businesses and more.
- Michigan’s personal income falls — Michiganders are earning less these days; in 2022, the average resident’s income was $57,038 compared to the national average of $65,470. As a state, we rank 39th in per-capita income, earning just 87.12 cents for every $1 the average U.S. resident earns. Get the full report on personal income.
- Focus on the future, not the past — Business review meetings spend too much time on things that have already happened. Dedicating at least 70% of the agenda to future-focused items creates more positive energy. Discover more ways to overhaul your meetings.
- Big names have tips for small businesses — Entrepreneur magazine surveyed executives at big companies to elicit advice for helping small businesses grow. Being 10% more efficient and getting paid faster are two of the tips. Get all 10 tips for growing business.
- The science of proximity for employee morale — Placing a poor performer near a high performer—physically or on a team—can have a dramatic positive impact on team performance. See how the science of proximity works and why you need to be careful about moving a toxic employee.
- Pickleball sponsorships quadruple — Major League Pickleball has seen sponsors quadruple in a year. See what marketers are doing to stand out in this sport with cross-generational appeal.
Thank you to our Friday Five sources: Bridge Michigan, Kellogg Insight, Entrepreneur, Inc. and Marketing Brew.
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