Written for the leaders, owners and professionals of the 11 million businesses with between $50,000 and $50 million in revenue.

Back in 2022, the ratio of job openings to unemployed individuals was 2-to-1, with employers struggling to attract and retain talent. But that's so two years ago. Hiring has since cooled off to where it was before COVID, sending the labor market on a roller coaster.

Wage growth is down, too, and jobseekers increasingly feel their applications are disappearing into LinkedIn's void. Still, the economy has been growing all year — and the layoff rate hasn't (yet) — so it could be worse. Just don't expect another Great Resignation anytime soon.

Read business.com's guide to 12 Reasons Employees Quit (and How to Prevent It).

Today's Edition...

Exit Stage: What to ask your business's potential buyers

Politics: Avoiding controversy might not be the answer?

The Killer: Film depicts cybersecurity's life-or-death stakes

4 Questions to Ask Before Selling Your Business

You've decided it's the right time to cash out and have found a potential buyer for your business. But you want to make sure it's in good hands, especially if you're sticking around after the sale as a paid consultant, minority owner, or even an employee.

Here are questions beyond "what's your offer?" to ask before signing the company over.

"Why are you interested in my business?"

Understanding the buyer's motivation is critical. Are they passionate about the products, services, local market, or industry? Their reasons can give you a clearer picture of how they might steer the ship once it's theirs.

"How will you finance the purchase?"

Knowing whether a potential buyer has the cash on-hand or a solid financing plan in place can accelerate the transaction and ensure that it has a good chance of closing. It's also a good indicator of how serious they are.

"What's your vision for after the acquisition?"

You've put your blood, sweat, and tears into this venture. It's natural to want to know if the new owner will continue on the path you've set or take a detour. Their vision can also signal how well they understand the business, a timeline for achieving milestones, and the potential for growth.

"Can you provide references?"

This sounds like a job interview question, but it's still applicable if your buyer is a complete stranger (or even if they came via a broker). Ask to speak with their partners or current vendors, key customers, and even their employees to get the best picture of who'll be taking over from here.

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Talking Politics at Work Is Dangerous, But Steven Olikara Wants Us to Try

(Source: Shutterstock)

Earlier this year, we provided some tips for not letting politics divide your workforce. But as the November election approaches, tempers are flaring. With partisans all over the ideological map eager to boycott companies for any perceived misstep, is staying neutral the right or wrong course?

Steven Olikara, president of Bridge Entertainment Labs, has hosted workshops at Coca-Cola Scholars, SXSW, the USC Schwarzenegger Institute, and the Sundance Film Festival. He also appears in Van Jones' and Meghan McCain's documentary The Reunited States — championing the idea that business leaders have a pivotal role in depolarizing America. He told b. why and how he facilitates challenging discussions in the workplace.

b.: What are your thoughts on companies avoiding political stances?

Olikara: Businesses are right to avoid getting too red or too blue in a partisan way. But on the flip side, more than ever, the next generation of employees are looking to their companies … to represent their values and their broader purpose in life. If companies aren't doing right by their communities … they'll have trouble recruiting top young talent.

b.: How can companies navigate the perception that having values is political?

Olikara: One way to disrupt that polarization vortex is by having human, empathetic, open, listen-first types of conversations within your companies. When you have that kind of open exchange, you're often going to come up with better ideas. You'll not only humanize your fellow employees, but also apply the same rationale for why you want a diverse board or diverse teams…

My expression for those types of political conversations is jazz music. I grew up playing in jazz groups. … It's about co-creating ideas on the spot and riffing on each other's ideas. The more diverse the ensemble, the more interesting the ideas you'll get.

b.: Why shouldn't companies just focus on profits, especially if they're scared?

Olikara: Having this expertise at companies is important to the bottom line. Look at Disney's battle with Ron DeSantis. If you get tied up in divisive politics — and don't know how to take the right steps that are both helping to depolarize the situation as well as stand up for your employees — you're going to get hit in your bottom line…

The issue of polarization is tearing apart families and friend groups. It can become radioactive, even in businesses as well. I understand the fear that's out there. I actually don't believe the answer is just ignoring it or sweeping it under the rug.

I think the answer is exercising our bridging muscles. And that takes time. You can't ask people to run a marathon without ever training for it … but when you start to do that exercise, it becomes muscle memory, and people will all be better off for it.

David Fincher's The Killer Shows Vulnerability of Paper Records

(Source: Netflix)

You might think keeping your records on paper makes them more secure — if hackers can't get to them, they're safe, right? Well, not exactly.

In Netflix's new thriller The Killer, directed by David Fincher and starring Michael Fassbender, a nameless hitman stalks his targets in Parisian hotels and luxury gyms. That is, until things go awry and he becomes the prey, forcing him to hunt down his own employers. Fassbender gains sensitive information by infiltrating an office where all client data is stored on outdated punch cards in a standard filing cabinet.

In real life, it's often true that paper records offer less storage security than digital records. That's because physical locks on doors and cabinets are easier to breach than cybersecurity software; paper records are vulnerable to fires and other natural disasters; and physical data can be hard to keep track of, making it possible for employees to misplace files.

Nearly half of small and midsize businesses still keep client and vendor data on paper. It might be time to rethink document security, even if you (probably?) don't need to worry about revenge-hungry paid assassins.

On August 2 in Business History:

1892: George A. Wheeler patented a prototype that would be a stepping stone for the first commercial escalator.
1937: The Marihuana Tax Act of 1937 was passed, largely to impede the hemp industry's growth. (Cannabis lost the battle but is winning the war.)
2018: Apple became the first U.S. company to reach $1 trillion in value. It's also the day Musical.ly merged with TikTok, making the latter a global app.