Richard

While flex scheduling has become very popular, it is not quite the norm just yet. Flex scheduling is what it sounds like: Employees are allowed to work a flexible schedule so long as they accomplish their tasks and meet certain quotas.

For example, full-time employees are required to work 40 hours. However, a company might state that they do not care when an employee meets that amount, so long as they do it each week by midnight on Sunday. This allows employees to work whenever it is most convenient for them — this could be overnight, on weekends, early mornings or late nights. This does not mean employees never work during the typical 9-5, but it allows them to schedule things easier in their lives such as picking up kids from school, visiting the doctor’s office or even taking small vacations.

Although more and more companies are going to this model, there are still some that are sticking with the traditional 9-5, even though those companies and their employees are completely remote.

Working with businesses of all shapes and sizes, I have found that flex scheduling really is one of the best ways to allow employees to work remotely.

Related: How Flexible Work Will Give Your Business the Biggest Advantage

Strict schedules create sneaky employees

First of all, no one is looking over an employee’s shoulder when they work at home to verify they are actually working when they should be. Yes, there is software that can monitor “activity” on computers. However, there are a million and one ways to get around that software.

Working from home cuts down on in-office distractions such as coworkers coming by to chat, phones ringing or customers walking in with complicated questions. However, that does not mean that working from home does not come with its own distractions. For example, the dog might get sick or the laundry may need to be done.

Attempting to force someone to sit at their desk from 9-5 at home creates sneaky employees — this is not to say these people are bad or doing something that is bad. They still do their work. They meet their deadlines. They just might do it a little earlier or later in the day. They have their own distractions they want to take care of — and let’s be honest, no one is chained to their desk the whole time they are in the office, either. People get up to take breaks, grab coffee, chat with coworkers who are friends, etc.

Since remote employees are in their own personal space and there is no one from work to micromanage their activities, they should be allowed a little wiggle room in their schedule.

Related: Your Employees Expect Schedule Flexibility. Here’s How to Give It to Them.

Strict schedules lead to burnout

Flex scheduling has actually been shown to lead to more productivity and overall employee satisfaction, according to an article written by Ludmila N. Praslova in the Harvard Business Review. Think about the “afternoon slump” many people experience after being awake for several hours and eating lunch. Most people are a little sleepy in the afternoon. If they are allowed to clock out, they can return when they are refreshed rather than working while exhausted, which can lead to mistakes.

Furthermore, it is hard for remote employees to separate their personal from their professional lives. After all, their computer (a.k.a. their work), never leaves the premises. While companies require employees to be at their desks at certain times when working remotely, many employees work over that time to accomplish deadlines. Again, if an employee feels extra exhausted in the afternoon, they might find it hard to push through their work so they stay late to finish, which can lead to more exhaustion the next day and create a vicious cycle.

However, with flex time they can take a nap or break, return refreshed and finish the work faster and on time — whatever that time may be for them!

Related: This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be ‘More Attractive’ Than an Office Job

Strict schedules are not a perk

Many companies now offer flex scheduling as a perk. If a candidate is choosing between your company and another, they might choose the other one if it has flex scheduling. After all, the thing to keep in mind is that flex scheduling does not mean employees will always be working at crazy hours. More often than not, employees still work around the 9-5 schedule — it’s just that some days they may choose to make it a little different.

Additionally, it is still okay to tell employees they have to be available at certain times with flex scheduling. Let them know that every Monday at 3 p.m. there is a required meeting. This ensures that you keep in contact with them on a regular basis while allowing them to plan the rest of their day around that time.

This is a great perk to offer remote employees; people often choose remote work so that they have more freedom in when and how they operate. Trying to force people to sit in their own homes at their desks for days at a time is not a perk, and you might lose out on great candidates because of that.

Now, you might think that flex scheduling causes you to lose control over your employees; many companies feel it is scary because of this. However, there are certainly lots of pros to keep in mind.

Of course, flex scheduling is not a one-size-fits-all solution. There are some companies and job positions where it just will not work. However, if it is something your company has been considering, you should give it some thought as it can lead to happier, more productive employees who enjoy the perks your company offers.

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Warren Buffett, chairman and CEO of Omaha, Nebraska-based holding company Berkshire Hathaway, is one of the world’s most well-known investors, with a net worth north of $145 billion.

^{Image Credit: Eric Francis | Getty Images. Warren Buffett.}

However, like all successful investors, Buffett had to start somewhere.

In his biography The Snowball: Warren Buffett and the Business of Life, author Alice Schroeder recounts Buffett’s early fascination with money — and an important lesson he learned from his first investment.

Related: Introvert Warren Buffett Was ‘Terrified’ of Public Speaking. Here’s the Secret That Helps Him Address 40,000 People at the Berkshire Hathaway Annual Meeting.

Buffett got his first taste of entrepreneurship at age six when he started selling packs of chewing gum. “I would buy packs of gum from my grandfather and go around door to door in the neighborhood selling this stuff,” Buffett tells Schroeder. “I used to do that in the evening, largely.”

Eventually, the young entrepreneur moved on to selling Coca-Cola, a more profitable venture that earned him a nickel every six bottles. Selling golf balls at the Elmwood Park golf course and peanuts and popcorn at the University of Omaha football games followed.

One day, Buffett visited the library and stumbled upon a book called One Thousand Ways to Make $1,000, which opened his eyes to the power of compound interest. Buffett wanted to try it for himself.

Related: Want to Become a Millionaire? Follow Warren Buffett’s 4 Rules.

By the following year, 1942, 11-year-old Buffett had saved $120 to purchase his first stock: Cities Service Preferred. He took his sister Doris on as a partner and purchased three shares for each of them for $114.75.

Unfortunately, the market hit a low that June, and Cities Service Preferred plummeted from $38.25 to $27 a share, a fact that Buffett’s sister “reminded” him of every day, Schroeder writes. So, when the stock had recovered enough to net a small profit — $5 a share — Buffett sold.

Then, Cities Service Preferred skyrocketed to $202 a share.

Related: Warren Buffett Finally Reveals What Mystery Company Got a $6.7 Billion Investment from Berkshire Hathaway

Buffett tells Schroeder the experience was one of the most important of his life because it taught him three lessons about investing:

1. Don’t “overly fixate” on what you’ve paid for a stock.
2. Don’t rush to sell for a small profit.
3. Don’t invest someone else’s money unless you know you can succeed.

The lesson has served Buffett, now 94, well over the years. In August, Berkshire Hathaway surpassed $1 trillion in market value for the first time.

Recently, I had the privilege of delivering a keynote and a series of in-depth training programs for a client in Australia. The initiative was aimed at improving the customer experience, but this wasn’t just about energizing the customer-facing teams; it was a company-wide effort aimed at embedding a customer-centric mindset across the entire organization.

Their leadership gets it. They understand that every employee, regardless of their role, plays a pivotal part in shaping the ultimate customer experience, as well as their brand.

This experience reinforced my belief that customer-centricity is a critical topic that every leader, manager, and employee needs to understand. Let’s examine why this topic is so important.

In today’s competitive market, businesses face a new reality: customer expectations are soaring. Gone are the days when delivering a good product or a transactional service was enough. Customers now seek personalized, memorable experiences with the brands they choose to engage with. To stay ahead, companies must adopt a customer-centric culture — where every action, every process and every decision is aimed at enhancing the customer experience.

At the core of this concept is the understanding that every employee plays a role in the customer journey. It’s not just the responsibility of customer service or sales teams. Whether directly interacting with customers or not, every person within the organization has a profound impact on the customer experience and on the company brand.

Let’s explore what it means to create a customer-centric culture and how to embed this mindset into every person in every department.

How non-customer-facing roles impact customers

Consider Best Buy, a retailer specializing in consumer electronics. Best Buy’s sales associates directly interact with store customers, helping with product selections. But, the customer experience extends beyond the sales teams. Employees across departments, including logistics, inventory management and corporate teams, play critical roles in shaping how customers perceive the brand.

For example, inventory managers ensure shelves are stocked. If they fail, customers might leave frustrated. Similarly, corporate decisions on product selection or pricing impact what’s available. These behind-the-scenes roles directly affect whether a customer leaves satisfied or disappointed.

This highlights a fundamental truth: the customer experience is shaped by everyone in the company, not just the employees who interact with customers directly.

Why customer-centric culture matters

Customers today expect more than just transactions. They seek relationships with brands that deliver value at every interaction. Ensuring a consistently exceptional customer experience isn’t the job of one department; it’s the responsibility of the entire organization.

At Best Buy, customer-centricity is embedded in the company’s DNA. From marketing to operations, every team’s work ultimately serves the customer. And it’s working! Despite competition from online giants like Amazon, Best Buy has held its own by enhancing the experience through expert advice and after-sales support, areas where online retailers often fall short.

Related: How to Cultivate a Customer-Centric Approach to Brand Building

A customer-centric culture is every employee’s responsibility

So, how can a company ensure every employee adopts a customer-centric mindset?

1. Understand the bigger picture: Every employee must see how their role connects to the overall customer experience. For instance, even employees in departments like IT or HR play a significant role in shaping that experience. IT can improve customer interactions by ensuring that systems, such as the company’s website or in-store technology, function smoothly for a seamless shopping experience. HR, on the other hand, contributes by maintaining a positive work culture that energizes and supports customer-facing employees, helping them provide the best possible service both in-store and online.
2. Collaboration: A customer-centric culture thrives on teamwork. Employees should feel comfortable asking colleagues, “How can I help you improve the customer experience?” Collaboration between departments ensures that every team member is aligned in serving the customer, whether directly or indirectly.
3. Create a strategy for customer-centricity: Embedding a customer-centric mindset into the company culture requires intentional effort. Employees need to be strategic about how they approach their roles. For example, teams should regularly review customer feedback to refine their product offerings and improve service. Whether it’s enhancing the customer’s in-person experience, optimizing the online shopping journey, or streamlining delivery processes, businesses must continually adjust their strategies based on customer needs and feedback. This ongoing refinement ensures the company evolves with consumer expectations, maintaining its reputation as a customer-first organization.

Making customer experience part of the DNA

Becoming customer-centric doesn’t happen overnight. It requires sustained commitment from everyone. Your employees should be encouraged to consider how their tasks impact the customer. Whether managing inventory, assisting customers in-store or in their office, or overseeing logistics, every action must be evaluated through the lens of customer impact. This customer-first mentality must become part of every employee’s daily routine, ensuring the customer experience is always a priority.

Related: Customer Centricity: What It Is, Why It Matters and How to Improve Yours

The “three asks” of a customer-centric employee

To solidify customer obsession, employees should embrace what I call the “Three Asks” of a customer-obsessed employee:

1. Ask how you can support colleagues in improving customer interactions. Even if you don’t work directly with customers, supporting teammates who do can boost overall satisfaction.
2. Ask how processes can be improved for the customer experience. Identifying inefficiencies within internal processes and suggesting improvements helps streamline service.
3. Ask how you can take ownership of customer outcomes. Recognize that your work contributes to the company’s customer experience, whether or not you’re customer-facing. Ownership and proactive thinking positively impact overall success.

Recognizing and celebrating progress

Creating a customer-centric culture requires continuous improvement and regular recognition. Celebrating and rewarding customer-centric behaviors reinforces their importance and motivates employees to strive for excellence. By recognizing these efforts, companies foster an environment where employees take pride in contributing to the mission of putting customers first.

Related: Starting My First Business at 11 Taught Me These 4 Lifelong Business Lessons

A customer-centric culture isn’t built in silos. It’s built when every employee, regardless of role, adopts a mindset of customer obsession. It’s about going beyond job descriptions and asking, “How does my work impact the customer?”

When every team member works toward the same goal — delivering an outstanding experience — customer satisfaction soars, employee morale improves, and the company gains a competitive edge.

At the end of the day, customer-centric organizations don’t just meet expectations — they exceed them. That success requires a unified, company-wide commitment. By embedding customer-centricity into the business, employees will feel empowered, customers will be delighted, and the organization will thrive for years.

Months ago, ChatGPT introduced a memory feature that remembers details across conversations — and most users still aren’t aware of what it means and don’t realize the massive privacy and copyright risks it poses. Imagine sensitive client information or trade secrets bleeding across projects without your knowledge. This isn’t just a glitch; it’s a wake-up call for anyone using AI in business.

In this video, I’ll uncover the surprising risks and share actionable strategies to help you use AI safely and responsibly. Learn how to harness the power of AI to grow your business, safeguard your brand and stay ahead of your competition.

Download the free “AI Success Kit” (limited time only) — and you’ll also get a free chapter from Ben’s brand new book, “The Wolf is at The Door – How to Survive and Thrive in an AI-Driven World.“

Let’s get real: If you’ve been on social media lately, you’ve probably seen everyone and their dog claiming to be a “coach.” Big promises, high-ticket prices and flashy marketing are everywhere — Become a millionaire overnight! Get unlimited success in 30 days! All that hype has created one big problem: skepticism. And people have every reason to be cautious.

If you’re serious about starting a real coaching business, you’ve got to rise above the noise. Here’s how to build trust, create impact and attract clients for the long haul — without the empty promises.

Related: 4 Steps to Building a Successful Coaching Business

Step 1: Keep it real about what you can offer

If you’re starting a coaching business, the first step is knowing what you actually bring to the table. You don’t need to promise “life-changing results” if that’s not what you deliver. So, ask yourself: What can I teach that’s truly going to make a difference? By defining what sets you apart, you’re setting yourself up to attract the right clients.

Niche down or get drowned out:

General “business coaches” are everywhere. But the coaches who succeed are the ones who have a clear niche. Instead of trying to cover it all, focus on something specific, like “pitch development for new startups” or “productivity for busy parents.” When you’re clear about what you do, you attract clients who are looking for exactly that. A clear niche allows you to offer a more personalized, targeted approach that addresses your clients’ unique challenges.

• Example: A friend of mine coaches startup founders specifically on crafting killer pitch presentations. That’s her thing, and because she owns that niche, she’s become the go-to expert in her space.

• Quick tip: When you’re too broad, you blend in with every other coach out there. Find your specific angle, and stick with it. The right clients will come to you, and you’ll avoid spreading yourself too thin.

Establish your signature approach:

Once you’ve defined your niche, think about your unique approach to delivering results. Maybe it’s your 5-step framework for achieving work-life balance or a 10-day boot camp that accelerates learning. A signature approach not only gives clients clarity on what they’ll get but also differentiates you from others in your field. Highlighting this approach on your website or in your marketing materials can be a great way to showcase your value.

Step 2: Build trust before trying to sell anything

Coaching is all about trust. If clients don’t believe in you, they’re not sticking around. And nothing kills trust faster than a hard sell before you’ve shown them you’re worth it. Instead, start by delivering real value that builds credibility.

Give people a reason to believe in you:

Sharing free tips and insights allows potential clients to see your expertise in action. This could be through quick video clips, social posts or blog articles that offer practical advice. Focus on things that get people actual results, even if it’s something small — because those small wins build trust and make people want more.

An easy way to get started is by offering a mini training series or a weekly “tip of the day” on platforms like LinkedIn or Instagram. For instance, a productivity coach might post a daily reminder about a time-saving habit or a two-minute video on how to tackle procrastination.

• Example: A productivity coach could post weekly tips on LinkedIn about streamlining routines or tackling time management. When people start seeing results from your free advice, they’ll naturally want to know more about your paid programs.

Cut the hype and keep it authentic:

It’s tempting to sell with buzzwords and big promises, but here’s the thing: People can spot inauthenticity a mile away. Instead of trying to impress, focus on transparency. Share the ups, the downs and the lessons. Honesty is your advantage in a world of over-the-top claims.

• Quick tip: Clients relate to coaches who show up as real people. Talk about your wins but also the challenges. People trust those who keep it authentic, and this relatability is often what encourages them to hire you.

Related: How to Maintain Brand Authenticity in an Increasingly Skeptical World

Step 3: Scale smart — but keep quality in check

One-on-one coaching is powerful, but it limits your reach and your income. If you want to grow, you need to create products that let you work with more clients while still delivering value.

Use creator tools and lead magnets to build your audience:

Scaling your coaching business means reaching the right people consistently, and that’s where platforms like GetResponse can be a game-changer. With built-in creator tools for creating online courses, lead magnets to attract new clients and email automation to keep them engaged, you’ll have everything you need to grow while maintaining quality. For example, a career coach might offer a “10-Step Resume Guide” or “Interview Checklist” as a free lead magnet to attract interested clients.

A lead magnet like a free checklist or video tutorial not only captures leads but also builds trust by offering value upfront. When someone downloads your lead magnet, GetResponse’s automation can send a series of nurture emails, gradually introducing your services. This not only builds rapport but also guides leads toward your paid programs, like a full coaching course or a personalized workshop.

• Quick tip: A lead magnet that delivers real value — like a downloadable guide or checklist — doesn’t just create leads; it also sets the stage for converting followers into paying clients. Consider what free resources could best showcase your expertise and engage your audience.

Scale your approach with online courses and group coaching:

Once you’ve built a steady audience, consider scaling with digital products like online courses or group coaching sessions. These offerings let clients learn on their schedule while keeping your time commitments flexible. Many platforms offer tools for building online courses, making it easy to package your expertise into a product that can reach a wider audience.

If you’re a wellness coach, for instance, you might create a self-paced course on “10 Steps to Better Health Habits,” allowing clients to work through it in their own time, with optional one-on-one sessions for those wanting more personalized guidance.

Step 4: Build a community, not just a client list

The secret to a thriving coaching business? An engaged community. When clients feel connected to each other and to you, they’re more likely to stay involved, see results and refer others.

Create a space where clients can engage:

Whether it’s a private group, monthly live Q&As or an exclusive email list, creating a community makes clients feel like they’re part of something bigger. When clients feel connected to others on the same journey, they’re more motivated, more engaged and more likely to keep working with you. This community vibe often strengthens your brand, creating advocates who bring in new clients organically.

For example, a wellness coach I know hosts virtual meetups where clients can share progress, get feedback and set new goals. That little bit of extra community support keeps clients coming back and turning into referrals.

Foster long-term engagement with content and consistency:

Community is about consistent interaction. Set up regular check-ins, like monthly “goal-setting” webinars, or encourage discussions within your private group. By actively participating and providing content that addresses the latest challenges and trends in your field, you foster a community that’s not just clients but loyal supporters.

• Quick tip: Invest in building a community. It’s not only valuable for your clients but becomes a powerful asset that adds value to your coaching brand. It’s a long-term approach that keeps clients engaged and encourages word-of-mouth growth.

Related: A Step-by-Step Guide to Building a Community for Your Business

Starting a coaching business today isn’t just about setting up a website and offering a service. It’s about building a reputation based on real results, authentic communication and value. The coaches who succeed focus on helping clients first and selling second. So, if you’re serious about starting a coaching business that’s credible and impactful, remember: Trust and authenticity are everything.

Clients want guidance they can rely on, so give them that — and watch your coaching business grow for the long haul.

As an entrepreneur with 17 years of experience and now working on my fourth company, I’ve become hyper-aware of how vital it is to protect company culture. Building a successful company is about much more than hitting revenue goals or scaling quickly — it’s about fostering a healthy, vibrant workplace where your team can thrive. A toxic culture will undermine that faster than you can imagine.

Here are some hard-learned lessons I’ve gathered over the years about identifying toxic culture and, more importantly, how to fix it before it’s too late:

1. Toxic culture doesn’t always look toxic at first

It’s easy to think of toxic culture as blatant negativity, conflict or disrespect. But in my experience, it starts in much more subtle ways: passive-aggressive comments, cliques forming, communication breakdowns and employees feeling like they can’t speak up.

At one of my earlier companies, I didn’t notice these red flags until they started showing up in our results — people missing deadlines, more frequent sick days and a noticeable dip in team morale. By the time I realized it, the culture had already started to rot from within. Toxicity starts small, but its impact grows quickly.

Related: These Toxic Behaviors Are Employees’ Biggest Frustrations – Is Your Company Guilty of Them?

2. As a leader, you set the tone — always

One of the biggest mistakes I’ve seen leaders make is thinking culture will take care of itself. It doesn’t. You, as the entrepreneur or business leader, are responsible for setting the cultural tone.

As a leader, make a conscious effort to lead by example. That means being transparent with my team, reinforcing our core values, and creating a space where everyone feels heard. It’s not enough to say you have great company values — you have to live them every day. If the leader isn’t walking the talk, no one else will either.

Keep a pulse on your team’s dynamics. Regularly check in with employees at all levels — not just your managers — to uncover the unspoken problems that might be festering.

3. Toxic culture drains talent — and fast

It’s not just productivity that suffers when a company has a toxic environment — it drives your best people out the door. One of the most painful lessons I learned early on was losing talented employees because of issues I didn’t address in time.

A toxic culture drains creativity, enthusiasm and the desire to stay. One powerful way to build the culture back into your company is for all employees to take ownership of their work, collaborate freely and feel proud to be part of something meaningful. When your team feels valued and supported, they’ll stick around. They’ll leave when they don’t, no matter how great the product or pay is.

Related: Do You Work for a Toxic Company? Here Are 4 Not-So-Obvious Signs to Watch Out For.

4. Don’t wait — address issues immediately

If you see signs of toxicity — address it immediately. Delaying is dangerous. In my experience, waiting to have tough conversations only allows the problem to fester. Whether it’s poor communication, office politics, or someone undermining your company values, these issues must be confronted head-on.

I’ve adopted a zero-tolerance policy regarding behaviors that threaten our culture. That doesn’t mean being ruthless — it means being firm about what the company stands for and making sure everyone aligns with that vision. Sometimes, tough decisions have to be made. Letting toxic behavior slide, no matter how small, is a slippery slope.

5. Culture is a living thing — nurture it

One of the most important lessons I’ve learned in 17 years as an entrepreneur is that culture isn’t static. It evolves as your company grows, your team changes and new challenges arise. That’s why I’m constantly checking in with my team—gathering feedback, assessing the vibe and making sure we’re staying true to our values.

Protecting your culture is an ongoing process. It’s not something you can set and forget. You need to nurture it, keep it in check, and make sure it’s growing in a healthy direction. At the end of the day, your culture is one of your greatest assets — don’t take it for granted.

Related: If You Do Any of These 3 Things, You Might Be a Toxic Co-Worker

Ways to be proactive in creating a great culture

1. Hire for culture fit, not just skill: When we hire, we don’t just look for the most qualified candidate; we look for people who align with our values and bring a positive attitude to the team. It’s easier to teach skills than it is to fix a toxic personality. Make cultural fit a key part of your hiring process — you can’t build a great culture with people who don’t align with your vision. This is a fiery topic, though. If you weigh too much on culture fit, you could hurt your company culture – don’t overlook the necessary and critical skillsets required. When you fill a company with wonderful people who lack the skills, those with the skills tend to be frustrated very quickly.

2. Create a feedback-rich environment: I’ve found that creating an open environment where team members feel safe sharing feedback is essential to maintaining a healthy culture. Encourage regular, honest communication, whether that’s through structured reviews or casual check-ins. We make it a point to listen—both to celebrate wins and to identify areas where we can improve. Take the time to have monthly scorecard meetings. Identify topics you wish to discuss ahead of time, send them to your team, and give them the chance to come ready to engage in meaningful conversations.

3. Celebrate wins, big and small: Building a great culture isn’t just about avoiding the negative — it’s about celebrating the positive. Recognizing achievements — whether it’s hitting a big milestone or overcoming a tough challenge — boosts morale and strengthens the bond between team members. Small gestures of recognition can go a long way in creating a positive and motivated team.

On Thursday, the Federal Reserve’s Federal Open Market Committee (FOMC) announced that it would lower the federal funds rate by 25 basis points (bps), or 0.25%, because of “somewhat elevated” inflation and an unemployment rate that “moved up but remains low.”

The rate is now 4.5% to 4.75%, down from 4.75% to 5%. A lower federal funds rate, or borrowing rate that banks charge each other, means lower borrowing costs on credit cards and personal loans — so there’s a ripple effect that could directly affect your wallet. Banks decide individually how to respond to rate cuts.

The news aligned with analyst expectations.

“We continue to expect the Fed to ease policy by 25bps at every meeting through June next year amid resilient but moderating growth and cooling labor market trends,” EY chief economist Gregory Daco told Entrepreneur in an emailed statement ahead of the Fed’s announcement.

The Fed previously cut rates by half a point in September, in its first reduction in four years. The next FOMC meeting, scheduled for December 17 through 18, is the last one of the year; Daco, as well as EY colleague and senior economist Lydia Boussour, both expect another rate cut of 25 bps then.

^{Federal Reserve Chair Jerome Powell. Photographer: Al Drago/Bloomberg via Getty Images}

Daco wrote that after the Fed cut rates by an “outsized” 50 bps in September, it would opt for a more “gradual recalibration” in November because of “ongoing disinflation and softening labor market momentum along with strong productivity growth.”

Related: A Fed Rate Cut Finally Happened For the First Time in 4 Years. Here’s How the Decision Will Affect Your Wallet.

Elyse Ausenbaugh, Head of Investment Strategy at J.P. Morgan Wealth Management, also told Entrepreneur in September that the 50 bps cut in that month “creates some breathing room to go at a slower (or every-other-meeting) pace” for subsequent meetings.

The CME FedWatch Tool, a measure of the latest probabilities of FOMC rate changes, agreed with Daco and Ausenbaugh’s predictions of a slower rate cut pace. It placed the likelihood of a 25 bps cut in November at 99.1% before the decision was announced.

Related: ‘Stage Is Set:’ EY Senior Economist Expects Three Rate Cuts Before the End of the Year

Japanese automaker Nissan reported a loss on Thursday for the fiscal quarter, leading the company to announce it is cutting 9,000 people, around 6% of its workforce. Nissan models did not sell well in the U.S. last quarter.

Makoto Uchida, Nissan’s CEO, told reporters that he is taking the situation “very seriously,” according to the AP—and cutting his salary in half.

Related: Should CEOs Take a Pay Cut to Avoid Layoffs and Cutting Jobs? It’s Complicated, Experts Say

Uchida said he was taking a 50% pay cut and the company is cutting its production capacity globally by 20%.

In 2022, Uchida made ¥673m (around $4.5 million), per the BBC.

“Nissan will restructure its business to become leaner and more resilient,” he added.

Uchida isn’t the first CEO to reduce their pay when business is down.

In 2023, Zoom CEO Eric Yuan cut his salary by 98% amid a layoff announcement. Later that year, Container Store CEO Satish Malhotra took a voluntary 10% pay cut so that staffers could receive merit bonuses.

In 2013, Nintendo’s CEO famously cut his salary in half to avoid layoffs.

Related: CEO of Tesla Rival Drops Salary to $1 to Cover Bankruptcy Costs

The Federal Trade Commission banned businesses from writing and buying their own reviews in an August ruling. Now, it’s alleging that a customer review site, Sitejabber, published “misleading” ratings and reviews on behalf of the 130,000 businesses on its platform. The FTC’s proposed order would stop Sitejabber from “misrepresenting” customer ratings and reviews “in the future.”

The FTC’s complaint alleges that Sitejabber collected reviews at the point of sale, or before customers received or experienced a product or service. In one example, customers were asked to rate their overall shopping experience out of five stars and write something quickly directly after checking out.

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These quick ratings and reviews, or Instant Feedback Survey results, become part of a site’s profile on Sitejabber. The FTC says this could mislead people into thinking prior customers rated a business’s product or service highly when they were actually just rating the shopping experience.

“Presenting [Instant Feedback Survey] results as post-fulfillment reviews and ratings can mislead consumers into believing that a business’s high review count and high rating means thousands of customers have had positive experiences with the business’s products or services, when in fact the ratings and reviews displayed primarily reflected only customers’ experiences shopping on the business’s websites,” page four of the FTC complaint reads.

How to Avoid FTC Scrunity on Your Website Reviews

Businesses can avoid FTC scrutiny by making sure their Instant Feedback Survey ratings and reviews are unentangled from their product ratings and reviews — so customers clearly know what’s being rated.

This is one of the FTC’s first enforcement actions under its new rule.

“Along with our rule on fake reviews and testimonials, cases like this one show that we’ll act to stop all forms of deception in the review ecosystem.” FTC Bureau of Consumer Protection director Samuel Levine stated.

The FTC’s earlier rule on fake reviews and testimonials stops businesses from buying or selling fake reviews, including AI-generated ones.

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