By Adam Toren
Ben Cohen and Jerry Greenfield have ice cream in their veins. These two unlikely entrepreneurial heroes rose to pop culture status by following different paths. Jerry is more of the joker, always ready with a quick quip, who landed his first job in the industry as an ice cream scooper in college. He tried moving through medical school without any success and reverted to work as a lab technician, whilst Ben drove an ice cream truck in his senior school year, but also dropped out of college.
The pair first met each other when they shared a Manhattan apartment following graduation, but they did not explore their entrepreneurial possibilities until they became reunited in upstate New York and decided to go into the food business.
Ben and Jerry’s could just as easily have been a bagel bakery, but they deemed that option too expensive and decided to make ice cream instead. In the equally-as-funky Burlington, VT., they opened their first scoop shop and started churning out their off-the-wall ice cream creations. (more)
Tuesday, June 30, 2009
Trump Blog: Wrestling, Ratings and Guerrilla Marketing
Guerilla marketing is a term that was coined by Jay Conrad Levinson in his book of 1984, Guerilla Marketing. This is a form of advertising and promotions that depends on the unconventional. Imagination is key, and a big budget isn’t always necessary. Entrepreneurs use this technique, and it’s considered to be non-traditional--just what entrepreneurs are known for being.
A very good example of this would be the June 22nd WWE (World Wrestling Entertainment) event that drew 6.8 million viewers. That’s a 25% increase in viewers from an earlier broadcast in June. Some of you may have heard of Vince McMahon, who owns WWE and is a brilliant entrepreneur. Vince and I go at each other once in awhile because we both like a good fight, and he’s a worthy opponent. (more)
A very good example of this would be the June 22nd WWE (World Wrestling Entertainment) event that drew 6.8 million viewers. That’s a 25% increase in viewers from an earlier broadcast in June. Some of you may have heard of Vince McMahon, who owns WWE and is a brilliant entrepreneur. Vince and I go at each other once in awhile because we both like a good fight, and he’s a worthy opponent. (more)
Jordan Post: Jordan to boost ties with Turkmenistan
AMMAN (JT) - His Majesty King Abdullah and Turkmen President Gurbanguly Berdimuhamedov on Monday underlined their keenness to bolster bilateral relations, especially in economy sector, citing many opportunities for cooperation in this field.
At a meeting yesterday, the two leaders looked into the steps needed to boost cooperation in different fields, including education, culture, health, trade exchange and investment, the Jordan News Agency, Petra, reported.
They also agreed that officials from both countries will continue coordination and consultation to translate the two countries' commitment to develop ties into institutional cooperation, according to Petra.
The talks, which continued over a lunch banquet His Majesty held in honour of the Turkmen president and the accompanying delegation, also touched on regional and international developments and several issues of common concern, especially efforts to achieve a just and lasting peace in the Middle East. (more)
At a meeting yesterday, the two leaders looked into the steps needed to boost cooperation in different fields, including education, culture, health, trade exchange and investment, the Jordan News Agency, Petra, reported.
They also agreed that officials from both countries will continue coordination and consultation to translate the two countries' commitment to develop ties into institutional cooperation, according to Petra.
The talks, which continued over a lunch banquet His Majesty held in honour of the Turkmen president and the accompanying delegation, also touched on regional and international developments and several issues of common concern, especially efforts to achieve a just and lasting peace in the Middle East. (more)
Small Business Trends: How to Become the Center of Everyone’s Attention
By Shirley Frazier
It’s easy to watch someone else get all the glory. All you have to do is stand and listen. But if you’re an entrepreneur who craves media attention, you may ask yourself, “Why isn’t that me in front of the camera?”
Molding your business into an industry and media darling takes time and planning. If you truly want free publicity, it’s up to you to start and maintain the process of becoming an industry leader. Here are three painless steps to begin.
1. Write a comment or rebuttal whenever you see an article regarding your industry or a situation that impacts on your business.
Articles are published in trade journals, local newspapers, state-based magazines, and on Web
sites. Save each submitted comment in a Word or Notepad document, along with the publication’s name and date, to track what you’ve written and to also help you craft future responses.
I practice this consistently, which puts my name and business in front of reporters and other media groups who need expert comments in upcoming stories. The exposure has the potential to increase notoriety and revenue by a minimum of 30 percent each year.
2. Contact television and cable news producers with timely information that makes you their only choice for an interview. (more)
It’s easy to watch someone else get all the glory. All you have to do is stand and listen. But if you’re an entrepreneur who craves media attention, you may ask yourself, “Why isn’t that me in front of the camera?”
Molding your business into an industry and media darling takes time and planning. If you truly want free publicity, it’s up to you to start and maintain the process of becoming an industry leader. Here are three painless steps to begin.
1. Write a comment or rebuttal whenever you see an article regarding your industry or a situation that impacts on your business.
Articles are published in trade journals, local newspapers, state-based magazines, and on Web
sites. Save each submitted comment in a Word or Notepad document, along with the publication’s name and date, to track what you’ve written and to also help you craft future responses.
I practice this consistently, which puts my name and business in front of reporters and other media groups who need expert comments in upcoming stories. The exposure has the potential to increase notoriety and revenue by a minimum of 30 percent each year.
2. Contact television and cable news producers with timely information that makes you their only choice for an interview. (more)
The Entrepreneurial Mind: Taxes Linked to Small Business Failure
By Jeff Cornwall
We already know that higher tax rates decrease the rate of entrepreneurial start-ups in an economy. My friend and colleague John Wark passed along a post from TaxProf Blog that cites a recent study by Rafael Efrat, of California State University-Northridge suggesting that taxes are also a culprit in small business failures, as well. TaxProf Blog offers this quote from the conclusion of the study:
Consistent with the growing tax burden on small-business owners, as well as the growing body of evidence linking higher tax burden with limited entrepreneurial growth and higher closure rates, this study has found that tax problems constitute an important reason for bankruptcy filings for a sizable number of entrepreneurs. Interestingly, those entrepreneurs that attribute their business collapse to tax problems do not come from disadvantageous background. Instead, the average entrepreneur in the bankruptcy sample that has faulted tax problems for his financial woes was typically older male, white, native-born, well-educated and an experienced business owner. Nonetheless, the typical entrepreneur with tax problem in the bankruptcy sample was facing enormously higher debt burden with more than five times as much debts as other entrepreneurs in the bankruptcy sample. (link)
We already know that higher tax rates decrease the rate of entrepreneurial start-ups in an economy. My friend and colleague John Wark passed along a post from TaxProf Blog that cites a recent study by Rafael Efrat, of California State University-Northridge suggesting that taxes are also a culprit in small business failures, as well. TaxProf Blog offers this quote from the conclusion of the study:
Consistent with the growing tax burden on small-business owners, as well as the growing body of evidence linking higher tax burden with limited entrepreneurial growth and higher closure rates, this study has found that tax problems constitute an important reason for bankruptcy filings for a sizable number of entrepreneurs. Interestingly, those entrepreneurs that attribute their business collapse to tax problems do not come from disadvantageous background. Instead, the average entrepreneur in the bankruptcy sample that has faulted tax problems for his financial woes was typically older male, white, native-born, well-educated and an experienced business owner. Nonetheless, the typical entrepreneur with tax problem in the bankruptcy sample was facing enormously higher debt burden with more than five times as much debts as other entrepreneurs in the bankruptcy sample. (link)
Monday, June 29, 2009
Young Entrepreneur: The Most Common Errors When Writing A Business Plan
By Adam Toren
The thought of compiling a formal business plan can be quite daunting to the entrepreneur. Many of us see ourselves as the creative type rather than the formal intellectual and we might have an inbuilt tendency to try and fly by the “seat of our pants”. In spite of the pain, perceived or otherwise, involved in its creation, we must invest the time and effort to come up with a formal business plan. It is not as hard as you think, there are plenty of good books on the subject and some really great software packages, such as Business Plan Pro, for example.
So what are the most common errors people face when writing a business plan? Apart from the obvious - procrastination - you should always make sure that you include the necessary items. Make sure that you do devote time to creating the plan and don’t use any excuses, such as your busy schedule. You must look at the bigger picture, which includes the need to craft a formal projection of where you want to go. (more)
The thought of compiling a formal business plan can be quite daunting to the entrepreneur. Many of us see ourselves as the creative type rather than the formal intellectual and we might have an inbuilt tendency to try and fly by the “seat of our pants”. In spite of the pain, perceived or otherwise, involved in its creation, we must invest the time and effort to come up with a formal business plan. It is not as hard as you think, there are plenty of good books on the subject and some really great software packages, such as Business Plan Pro, for example.
So what are the most common errors people face when writing a business plan? Apart from the obvious - procrastination - you should always make sure that you include the necessary items. Make sure that you do devote time to creating the plan and don’t use any excuses, such as your busy schedule. You must look at the bigger picture, which includes the need to craft a formal projection of where you want to go. (more)
Capital Business: Canada, Jordan sign free trade agreement
By Agence France Presse
OTTAWA, Jun 29 - Canada on Sunday signed a free trade agreement with Jordan, Canadian Minister of International Trade Stockwell Day said.
The agreement is the first free trade deal between Canada and an Arab nation.
"Following the visit by King Abdullah II to Canada in July 2007, our countries have made significant progress in strengthening trade and investment," Day said.
Three other agreements were also signed.
Two of the deals promote greater cooperation between the two countries on employment and environmental issues and the third promotes and protects foreign investment. (more)
OTTAWA, Jun 29 - Canada on Sunday signed a free trade agreement with Jordan, Canadian Minister of International Trade Stockwell Day said.
The agreement is the first free trade deal between Canada and an Arab nation.
"Following the visit by King Abdullah II to Canada in July 2007, our countries have made significant progress in strengthening trade and investment," Day said.
Three other agreements were also signed.
Two of the deals promote greater cooperation between the two countries on employment and environmental issues and the third promotes and protects foreign investment. (more)
Sunday, June 28, 2009
Small Biz Bee: Technology, New Media, and Your Business
By Robert Tuchman
The 1990s are over. No longer do we exchange 800 numbers—now, only URLs. URLs are the 800 numbers of the 1900s. You have got to work through the Internet—there is no way to step on it or go around it.
You Need a Web Presence
The first step is to build a website for your company. Your website must display the concept of who you are to the external world—and it has to compel them to come inside.
When building a website, take advantage of those looking for jobs in our poor economy: hire a young, driven web designer who is looking for a shot at success. All you need is a clear sense of the image and feel you want your site to convey to said designer. Once the site is established, keep it updated and always look to improve it.
A well done website can make your five-cent lemonade stand look like Country Time. Emphasize the fact that you can offer better services than some of your competitors (who are probably extremely large, impersonal corporations).
Web Communication Strategy
Building a website is an absolute must—as you cannot be taken seriously without it—but it should not suck up all the energy and resources that you have. Today’s amazing capacity for communication makes extraordinary new things possible for you and your business.
If you concept is solid, your timing is right, and your commitment to your core idea is unshakeable, you can make big things happen with your website, and make them happen quickly. But as with any other communications medium available to your business—free or paid—the message has to be crafted carefully, the resources invested wisely, and the potential and actual payoff evaluated closely. (more)
The 1990s are over. No longer do we exchange 800 numbers—now, only URLs. URLs are the 800 numbers of the 1900s. You have got to work through the Internet—there is no way to step on it or go around it.
You Need a Web Presence
The first step is to build a website for your company. Your website must display the concept of who you are to the external world—and it has to compel them to come inside.
When building a website, take advantage of those looking for jobs in our poor economy: hire a young, driven web designer who is looking for a shot at success. All you need is a clear sense of the image and feel you want your site to convey to said designer. Once the site is established, keep it updated and always look to improve it.
A well done website can make your five-cent lemonade stand look like Country Time. Emphasize the fact that you can offer better services than some of your competitors (who are probably extremely large, impersonal corporations).
Web Communication Strategy
Building a website is an absolute must—as you cannot be taken seriously without it—but it should not suck up all the energy and resources that you have. Today’s amazing capacity for communication makes extraordinary new things possible for you and your business.
If you concept is solid, your timing is right, and your commitment to your core idea is unshakeable, you can make big things happen with your website, and make them happen quickly. But as with any other communications medium available to your business—free or paid—the message has to be crafted carefully, the resources invested wisely, and the potential and actual payoff evaluated closely. (more)
Business Writing: What Out-of-Date Websites Say About Us
By Lynn Gaertner-Johnston
Someone wrote to me recently, asking for my opinion of two other business professionals. Because I am in a professional group with them, she knew I could vouch for them.
The reason she wasn't sure whether they were reliable, successful people is that their websites were woefully out of date. One hadn't posted on her blog for four months. Another listed "upcoming classes" that had happened in March and April. (more)
Someone wrote to me recently, asking for my opinion of two other business professionals. Because I am in a professional group with them, she knew I could vouch for them.
The reason she wasn't sure whether they were reliable, successful people is that their websites were woefully out of date. One hadn't posted on her blog for four months. Another listed "upcoming classes" that had happened in March and April. (more)
CNN.Money: Make purchases without cash
By Justin Martin
(FSB Magazine) -- Tina Ames owns the Craftsmen Cafe, a Clarence, N.Y. eatery that specializes in organic comfort fare such as chicken soup and apple pie. Recently she needed to replace her restaurant's roof, a $7,000 job. Ames was loath to part with that much cash and didn't want to take out a loan.
Her solution? She cut a deal with a local contractor who handled the roofing job in exchange for a Ford F-150 pickup that Ames no longer needed. "I grew up on a farm," she says. "If you had eggs and someone else had corn, you traded. It's an old way of doing things, and it makes a lot of sense."
Even in modern times, bartering remains a practical choice for small businesses. It's a cash preservation tool, something that's especially useful in a tough economy. It can also help move unsold inventory or put idled staff to work. Done right, bartering can even drive new cash business. (more)
(FSB Magazine) -- Tina Ames owns the Craftsmen Cafe, a Clarence, N.Y. eatery that specializes in organic comfort fare such as chicken soup and apple pie. Recently she needed to replace her restaurant's roof, a $7,000 job. Ames was loath to part with that much cash and didn't want to take out a loan.
Her solution? She cut a deal with a local contractor who handled the roofing job in exchange for a Ford F-150 pickup that Ames no longer needed. "I grew up on a farm," she says. "If you had eggs and someone else had corn, you traded. It's an old way of doing things, and it makes a lot of sense."
Even in modern times, bartering remains a practical choice for small businesses. It's a cash preservation tool, something that's especially useful in a tough economy. It can also help move unsold inventory or put idled staff to work. Done right, bartering can even drive new cash business. (more)
Thursday, June 25, 2009
Young Entrepreneur: Why word of mouth is still the best form of marketing
By Matthew Toren
Word-of-mouth is certainly the best form of marketing available. In a recent study by the authority site emarketer.com, it was shown that fully 53% of online traffic comes from word-of-mouth – recommendations and referrals made by others.
The growth of the Internet has certainly enhanced the potential for positive results from word-of-mouth referrals. News used to take a lot longer to spread when the telephone was the most effective means of communication. News can now travel at lightning speeds through the many forms of e-mail, instant messaging, SMS text messaging and the Web 2.0 children – Facebook, MySpace, YouTube, Twitter, etc.
Nowadays, in Internet marketing terms, it is relatively easy to prompt people for a recommendation. “Tell a friend” scripts are easy to promote and these messages stand a great chance of reaching their proposed recipients, due to the fact that they are coming from a trusted friend or acquaintance. Recognizable e-mail addresses normally sail past those pesky spam filters. (more)
Word-of-mouth is certainly the best form of marketing available. In a recent study by the authority site emarketer.com, it was shown that fully 53% of online traffic comes from word-of-mouth – recommendations and referrals made by others.
The growth of the Internet has certainly enhanced the potential for positive results from word-of-mouth referrals. News used to take a lot longer to spread when the telephone was the most effective means of communication. News can now travel at lightning speeds through the many forms of e-mail, instant messaging, SMS text messaging and the Web 2.0 children – Facebook, MySpace, YouTube, Twitter, etc.
Nowadays, in Internet marketing terms, it is relatively easy to prompt people for a recommendation. “Tell a friend” scripts are easy to promote and these messages stand a great chance of reaching their proposed recipients, due to the fact that they are coming from a trusted friend or acquaintance. Recognizable e-mail addresses normally sail past those pesky spam filters. (more)
Inc.: Two Entrepreneurs Plan for Higher Energy Costs
By Alexandra Cheney
With summer gas prices steadily climbing toward $3 per gallon, according to the Energy Information Administration, many entrepreneurs who were hit hard by previous pump price spikes have permanently incorporated energy-saving strategies into their company culture.
For the last 35 years, Rita Henry an employee of Atlanta-based Lathem Time, had driven 70 miles to work every morning. That is, until gas prices rose so sharply she couldn't afford to do so. Her employer, Bill Lathem, the president and CEO of Lathem Time, a manufacturer of time clocks, door locks and electronic recorders, started a vanpooling program in 2004 as a result of the strain rising gas prices was having on his employees. Today, 23 percent of Lathem's 105 employees participate in the program either by self-arranged carpools, or by climbing into one of the two white vans Lathem provides.
On Friday's, Lathem encourages his employees to work from home via a teleworking system that redirects calls from the office to their homes. He calls the operation "seamless" and believes his employees are more productive when working from home one day a week. (more)
With summer gas prices steadily climbing toward $3 per gallon, according to the Energy Information Administration, many entrepreneurs who were hit hard by previous pump price spikes have permanently incorporated energy-saving strategies into their company culture.
For the last 35 years, Rita Henry an employee of Atlanta-based Lathem Time, had driven 70 miles to work every morning. That is, until gas prices rose so sharply she couldn't afford to do so. Her employer, Bill Lathem, the president and CEO of Lathem Time, a manufacturer of time clocks, door locks and electronic recorders, started a vanpooling program in 2004 as a result of the strain rising gas prices was having on his employees. Today, 23 percent of Lathem's 105 employees participate in the program either by self-arranged carpools, or by climbing into one of the two white vans Lathem provides.
On Friday's, Lathem encourages his employees to work from home via a teleworking system that redirects calls from the office to their homes. He calls the operation "seamless" and believes his employees are more productive when working from home one day a week. (more)
NYT: How to Enlist a Global Work Force of Freelancers
By Kermit Pattison
Small businesses increasingly are tapping a new talent pool: the world.
A new generation of online service marketplaces is giving small companies more opportunities than ever to find specialized expertise and affordable labor. Main Street businesses can shop a virtual international bazaar of freelancers to recruit computer programmers in Russia, graphic designers in San Francisco or data analysts in India.
“This is one more step in the path to leveling the playing field between small and large businesses,” said Thomas W. Malone, a professor at the Sloan School of Management at the Massachusetts Institute of Technology and author of “The Future of Work” (Harvard Business School Press, 2004). “A small-business person in a company of one can look to the world like a very large company and have access to all kinds of services — and that’s largely because of this kind of model.”
These online marketplaces are fueled by several trends. The recession and recent wave of downsizing have forced many corporations to eliminate in-house services and use independent contractors instead. Buyouts and layoffs have pushed many skilled professionals into the freelance marketplace. (more)
Small businesses increasingly are tapping a new talent pool: the world.
A new generation of online service marketplaces is giving small companies more opportunities than ever to find specialized expertise and affordable labor. Main Street businesses can shop a virtual international bazaar of freelancers to recruit computer programmers in Russia, graphic designers in San Francisco or data analysts in India.
“This is one more step in the path to leveling the playing field between small and large businesses,” said Thomas W. Malone, a professor at the Sloan School of Management at the Massachusetts Institute of Technology and author of “The Future of Work” (Harvard Business School Press, 2004). “A small-business person in a company of one can look to the world like a very large company and have access to all kinds of services — and that’s largely because of this kind of model.”
These online marketplaces are fueled by several trends. The recession and recent wave of downsizing have forced many corporations to eliminate in-house services and use independent contractors instead. Buyouts and layoffs have pushed many skilled professionals into the freelance marketplace. (more)
NYT: Is Entrepreneurship Really That Easy?
By Scott Shane
Today, I received an e-mail message from the Ewing Marion Kauffman Foundation announcing White House support for the Kauffman Foundation-New Economy Initiative to revitalize Detroit. The message made me wonder if the White House has found an entrepreneurship-based solution to all of our economic problems.
The Kauffman Foundation’s program involves a three-year $9.5 million investment “to assist auto suppliers and advance entrepreneurship.” The foundation claims that the program will create 1,200 new companies, generate 5,000 new jobs, save 20,000 existing jobs and generate $300 million in “spending power for the local economy.”
If this is true, then the White House should take notice. And it shouldn’t be Ed Montgomery, the executive director of the White House Council on Automotive Communities and Workers, who should be commenting, it should be President Obama himself. If the program does what the Kauffman Foundation says it will do, then we’ve got the solution to our job loss and G.D.P. shrinkage problems. (more)
Today, I received an e-mail message from the Ewing Marion Kauffman Foundation announcing White House support for the Kauffman Foundation-New Economy Initiative to revitalize Detroit. The message made me wonder if the White House has found an entrepreneurship-based solution to all of our economic problems.
The Kauffman Foundation’s program involves a three-year $9.5 million investment “to assist auto suppliers and advance entrepreneurship.” The foundation claims that the program will create 1,200 new companies, generate 5,000 new jobs, save 20,000 existing jobs and generate $300 million in “spending power for the local economy.”
If this is true, then the White House should take notice. And it shouldn’t be Ed Montgomery, the executive director of the White House Council on Automotive Communities and Workers, who should be commenting, it should be President Obama himself. If the program does what the Kauffman Foundation says it will do, then we’ve got the solution to our job loss and G.D.P. shrinkage problems. (more)
Wednesday, June 24, 2009
Donald Trump: Donald Trump's Biggest Challenge
The following question was submitted to "Ask Donald Trump" by a Trump University member.
What was your biggest challenge as one of the top entrepreneur’s in the world? (more)
What was your biggest challenge as one of the top entrepreneur’s in the world? (more)
Small Business Trends: How Solo Business Owners Hire It Done
By Shirley Frazier
“You do all that? You must be exhausted!”
That was the verdict I received after explaining my one-person enterprise to another business owner at a networking event in New York City. She was right; I was limp from years of going it alone.
That statement convinced me that it was time to find outside assistance. As I searched, my main concern centered around the cost rather than how much time and revenue I lost every day I didn’t have help.
How many of you focus on the bottom line the same way I did rather than concentrate on the benefits from outsourced individuals who contribute to growth and freedom?
There are 20.8 million independent entrepreneurs in the United States alone, according to the 2006 Nonemployer Statistics released by the U.S. Census in August 2008. How are they finding help to generate the corresponding $970 billion in sales?
Although hiring help would be a major step forward in my business, I was nervous. I asked people on Twitter for examples, but I still wasn’t convinced. Then I realized that long-time friends of mine, who I spoke with practically every day, had all of the answers. (more)
“You do all that? You must be exhausted!”
That was the verdict I received after explaining my one-person enterprise to another business owner at a networking event in New York City. She was right; I was limp from years of going it alone.
That statement convinced me that it was time to find outside assistance. As I searched, my main concern centered around the cost rather than how much time and revenue I lost every day I didn’t have help.
How many of you focus on the bottom line the same way I did rather than concentrate on the benefits from outsourced individuals who contribute to growth and freedom?
There are 20.8 million independent entrepreneurs in the United States alone, according to the 2006 Nonemployer Statistics released by the U.S. Census in August 2008. How are they finding help to generate the corresponding $970 billion in sales?
Although hiring help would be a major step forward in my business, I was nervous. I asked people on Twitter for examples, but I still wasn’t convinced. Then I realized that long-time friends of mine, who I spoke with practically every day, had all of the answers. (more)
Small Biz Bee: Stop! Don’t Spend One Advertising Dollar Until You Read This
Don’t spend one single dollar on advertising until you know your target customer, inside and out, top to bottom. Period, end of discussion. Why draw a hard line on this?
Precision Trumps Plentiful Marketing
Too often businesses use the shotgun approach to marketing, and in this economy that’s wasted money. Sure if you blast off a bunch of advertising you’re bound to hit something, but how much ammo did you waste in the process?
Right now we probably don’t have the marketing budgets to try stuff out, see what works, and throw money around hoping to hit a buyer.
Wouldn’t it be better to know your target customer so well you can then advertise specifically to them – the people most likely to buy your stuff? I think so. You’ll get more sales with less money, and an overall higher ROI for your efforts if you are precise in your marketing efforts, not just plentiful. (more)
Precision Trumps Plentiful Marketing
Too often businesses use the shotgun approach to marketing, and in this economy that’s wasted money. Sure if you blast off a bunch of advertising you’re bound to hit something, but how much ammo did you waste in the process?
Right now we probably don’t have the marketing budgets to try stuff out, see what works, and throw money around hoping to hit a buyer.
Wouldn’t it be better to know your target customer so well you can then advertise specifically to them – the people most likely to buy your stuff? I think so. You’ll get more sales with less money, and an overall higher ROI for your efforts if you are precise in your marketing efforts, not just plentiful. (more)
Entrepreneur: New Web Tool Calculates Biz Success
Starting a business is not for the risk averse. But in an effort to help entrepreneurs assess just how much risk is associated with launching or running their business, StartupNation.com, a website that provides business advice and networking for entrepreneurs, recently introduced an Odds of Success Calculator.
The business valuation device calculates a business owner's odds of success based on eight factors: amount of capital investment, difficulty in obtaining funds, quality of financial management, degree of business planning, annual industry growth rate, management experience, industry experience and timeframe.
After a short questionnaire, the online tool computes the probability of success by accessing a database that compares the company against hundreds of thousands of data points of other companies. (more)
The business valuation device calculates a business owner's odds of success based on eight factors: amount of capital investment, difficulty in obtaining funds, quality of financial management, degree of business planning, annual industry growth rate, management experience, industry experience and timeframe.
After a short questionnaire, the online tool computes the probability of success by accessing a database that compares the company against hundreds of thousands of data points of other companies. (more)
Harvard Business: The Key to Shorter, Better Meetings
By Anthony Tjan
Here is a simple managerial tip for meeting effectiveness that I learned some years ago.
Outside of general relationship building, consider that there are only three functional purposes for having a business meeting:
1. To inform and bring people up to speed.
2. To seek input from people.
3. To ask for approval.
Use this as a filter to determine why you are having a meeting and explain that purpose to your audience. Your meetings may often cut across multiple objectives but forcing yourself to clarify the agenda into these three purposes can result in more effective meetings. (more)
Here is a simple managerial tip for meeting effectiveness that I learned some years ago.
Outside of general relationship building, consider that there are only three functional purposes for having a business meeting:
1. To inform and bring people up to speed.
2. To seek input from people.
3. To ask for approval.
Use this as a filter to determine why you are having a meeting and explain that purpose to your audience. Your meetings may often cut across multiple objectives but forcing yourself to clarify the agenda into these three purposes can result in more effective meetings. (more)
Business Week: Why Less Is More for Startups
By Vivek Wadhwa
If I only had another few million dollars to spend on…
That's the refrain I grew accustomed to rattling off when I was getting my tech startups off the ground. I now hear it with increasing frequency from nervous entrepreneurs who can't find capital and want my thoughts on what to do. I always respond with the same three-word phrase: Less is more.
Yes; it's a cliché. But it's the best piece of survival advice for young companies, bar none. When a company is running on a tight budget, it will perform far better than a company that has gotten a chunk of cash from VCs. While this seems like common sense, it's actually news to many entrepreneurs (and aspiring entrepreneurs) who learned that raising venture capital is essential for high-growth companies.
Seasoned Pros Want Perks
A growing body of research implies that the correlation between raising money and success of startups has been exaggerated. In a study released this month of 79 tech companies funded over a 10-year period, David Townsend, an assistant professor of entrepreneurship at North Carolina State University, along with a co-author, professor Lowell Busenitz at the University of Oklahoma, found that a venture's success isn't necessarily dependent on funding. "Contrary to conventional wisdom, undercapitalization is not a death sentence. We found that moderate levels of undercapitalization—even capitalization ratios as low as 20% of the venture's initial goals—are not statistically related to a venture's probability of surviving. What appears likely to matter more for these ventures is the creative transformation and use of resources at hand and a disciplined approach to cash management," says Townsend. (more)
If I only had another few million dollars to spend on…
That's the refrain I grew accustomed to rattling off when I was getting my tech startups off the ground. I now hear it with increasing frequency from nervous entrepreneurs who can't find capital and want my thoughts on what to do. I always respond with the same three-word phrase: Less is more.
Yes; it's a cliché. But it's the best piece of survival advice for young companies, bar none. When a company is running on a tight budget, it will perform far better than a company that has gotten a chunk of cash from VCs. While this seems like common sense, it's actually news to many entrepreneurs (and aspiring entrepreneurs) who learned that raising venture capital is essential for high-growth companies.
Seasoned Pros Want Perks
A growing body of research implies that the correlation between raising money and success of startups has been exaggerated. In a study released this month of 79 tech companies funded over a 10-year period, David Townsend, an assistant professor of entrepreneurship at North Carolina State University, along with a co-author, professor Lowell Busenitz at the University of Oklahoma, found that a venture's success isn't necessarily dependent on funding. "Contrary to conventional wisdom, undercapitalization is not a death sentence. We found that moderate levels of undercapitalization—even capitalization ratios as low as 20% of the venture's initial goals—are not statistically related to a venture's probability of surviving. What appears likely to matter more for these ventures is the creative transformation and use of resources at hand and a disciplined approach to cash management," says Townsend. (more)
Knowledge @ Wharton: Raghda Shaheen: Bridging Two Worlds -- America and The Middle East
Raghda Shaheen, who works for the Dubai International Finance Centre, recently completed a four-week business and legal fellowship program at Wharton and the University of Pennsylvania law school. The program, funded by the U.S. Department of State Middle East Partnership Initiative (MEPI) and supported by America-Mideast Educational and Training Services (AMIDEAST), teaches management, business and legal skills to women from the Middle East and North Africa. This year, 22 women from 11 countries attended the program. Shaheen will spend the next three months working at the Chicago Chamber of Commerce before returning to the UAE. She spoke with Knowledge@Wharton about her experiences in Gaza City, Canada, the U.S. and the Middle East.
An edited transcript of the conversation follows.
Knowledge@Wharton: Raghda, thanks for joining us.
Shaheen: Thank you for having me.
Knowledge@Wharton: Can you start off by telling us a little bit about yourself? Where you were born, educated and where you have worked so far?
Shaheen: Sure. I am an Arabic girl, born in Kuwait to Palestinian parents. So I am Palestinian. I lived in Kuwait for seven years and then moved to Palestine. I grew up in Gaza City, and moved to Toronto, Canada, in 2001. I received a bachelor's degree in engineering. I worked there for a couple of years and then moved to Dubai in 2008 and that's where I live right now (more)
An edited transcript of the conversation follows.
Knowledge@Wharton: Raghda, thanks for joining us.
Shaheen: Thank you for having me.
Knowledge@Wharton: Can you start off by telling us a little bit about yourself? Where you were born, educated and where you have worked so far?
Shaheen: Sure. I am an Arabic girl, born in Kuwait to Palestinian parents. So I am Palestinian. I lived in Kuwait for seven years and then moved to Palestine. I grew up in Gaza City, and moved to Toronto, Canada, in 2001. I received a bachelor's degree in engineering. I worked there for a couple of years and then moved to Dubai in 2008 and that's where I live right now (more)
Tuesday, June 23, 2009
Window of China: China-Jordan trade ties
AMMAN, June 23 (Xinhua) -- A Communist Party of China (CPC) senior leader has aired satisfaction over China-Jordan trade ties and called for stronger cooperation.
In a meeting late Monday with Jordan's Minister of Planning and International Cooperation Suheir Al-Ali, He Guoqiang, China's anti-graft chief, said Jordan was China's important cooperation partner in the Middle East.
"China attaches great importance to ties with Jordan and is satisfied with the continued growth of bilateral trade cooperation," said He, who is member of the Standing Committee of the Political Bureau of the CPC Central Committee.
Jordan's trade with China hit about 360 million U.S. dollars in the first quarter this year, only next to Saudi Arabia and the United States, according to Jordan's official statistics.
The senior CPC leader said China would like to make joint efforts with Jordan to upgrade and widen bilateral cooperation in a substantive manner. (more)
In a meeting late Monday with Jordan's Minister of Planning and International Cooperation Suheir Al-Ali, He Guoqiang, China's anti-graft chief, said Jordan was China's important cooperation partner in the Middle East.
"China attaches great importance to ties with Jordan and is satisfied with the continued growth of bilateral trade cooperation," said He, who is member of the Standing Committee of the Political Bureau of the CPC Central Committee.
Jordan's trade with China hit about 360 million U.S. dollars in the first quarter this year, only next to Saudi Arabia and the United States, according to Jordan's official statistics.
The senior CPC leader said China would like to make joint efforts with Jordan to upgrade and widen bilateral cooperation in a substantive manner. (more)
Young Entrepreneur: Sir Stelios Haji-Ioannou
If any of you have flown easyJet, stayed in an easyHotel, or rented an easyCar, then you know this serial entrepreneur. Sir Stelios Haji-Ioannou defines the entrepreneurial spirit, both by his success in developing businesses and in giving back to the community. He offers a multitude of best practices that I think all entrepreneurs, whether just starting out or in business for years, will find beneficial.
As the son of a wealthy Greek shipping tycoon, it would have been easy for Sir Stelios Haji-Ioannou to sit back and take it easy. But instead, he worked to amass his own fortune by establishing a business empire that continues to expand and succeed. His first endeavor was at age 25 with the shipping company Stelmar, funded in part with a loan from his father. With its success, Haji-Ioannou founded easyJet, now a well-known budget airline throughout Europe. The multitude of easyGroup companies soon followed.
“I was just lucky with easyJet. I took an enormous risk with my family’s fortune back in the 90s and I was lucky to have been in the right place and at the right time when the European airline industry was deregulating and with the right father to give me a lot of money to bet on new aircraft. And it worked.” (more)
As the son of a wealthy Greek shipping tycoon, it would have been easy for Sir Stelios Haji-Ioannou to sit back and take it easy. But instead, he worked to amass his own fortune by establishing a business empire that continues to expand and succeed. His first endeavor was at age 25 with the shipping company Stelmar, funded in part with a loan from his father. With its success, Haji-Ioannou founded easyJet, now a well-known budget airline throughout Europe. The multitude of easyGroup companies soon followed.
“I was just lucky with easyJet. I took an enormous risk with my family’s fortune back in the 90s and I was lucky to have been in the right place and at the right time when the European airline industry was deregulating and with the right father to give me a lot of money to bet on new aircraft. And it worked.” (more)
Small Business Trends: Young Entrepreneur Cram Session
By Anita Campbell
Are you a recent grad with a great business idea, but have no idea how to get started? Or a young entrepreneur looking to take your business to the next level?
On Wednesday, June 24 at noon PDT (California time) Intuit will be hosting a “Young Entrepreneur Cram Session.” In this one-hour online event, you will hear from other young entrepreneurs on how they started their businesses, and what challenges they faced and how they overcame them. You will also be able to ask questions and share your own advice.
Featured panelists include:
Michael Adams, who founded Eddie’s Energy Bars based in Richmond, VT. Eddie’s makes all natural, no preservative energy bars that are locally homemade and community supported. The company was recently named one of Entrepreneur Magazine’s 100 Companies to Watch.
Melissa Baswell, owner of Mountains of the Moon, a Chicago-based sustainable design and apparel organization aimed at creating chic, high-quality eco-friendly clothing. Melissa was also one of the Intuit Small Business United Grant Competition winners.
Kavin Stewart, co-founder and CEO of LOLapps, a provider of easy-to-use tools that allow anyone to create and customize applications on social networks.
This exclusive event is open to the first 100 who register, so sign up here now.
If you aren’t able to attend the Cram Session, no worries. You can follow the event using the hashtag #YECram on Twitter, or look for updates on the Small Business United Blog. (link)
Are you a recent grad with a great business idea, but have no idea how to get started? Or a young entrepreneur looking to take your business to the next level?
On Wednesday, June 24 at noon PDT (California time) Intuit will be hosting a “Young Entrepreneur Cram Session.” In this one-hour online event, you will hear from other young entrepreneurs on how they started their businesses, and what challenges they faced and how they overcame them. You will also be able to ask questions and share your own advice.
Featured panelists include:
Michael Adams, who founded Eddie’s Energy Bars based in Richmond, VT. Eddie’s makes all natural, no preservative energy bars that are locally homemade and community supported. The company was recently named one of Entrepreneur Magazine’s 100 Companies to Watch.
Melissa Baswell, owner of Mountains of the Moon, a Chicago-based sustainable design and apparel organization aimed at creating chic, high-quality eco-friendly clothing. Melissa was also one of the Intuit Small Business United Grant Competition winners.
Kavin Stewart, co-founder and CEO of LOLapps, a provider of easy-to-use tools that allow anyone to create and customize applications on social networks.
This exclusive event is open to the first 100 who register, so sign up here now.
If you aren’t able to attend the Cram Session, no worries. You can follow the event using the hashtag #YECram on Twitter, or look for updates on the Small Business United Blog. (link)
Small Biz Bee: Overcoming Fear, Will You Take the First Step?
ust how much does fear limit what we think we can do? I’d guess it’s the number one reason so many of us have said, “I’ll start that business – someday”. It has nothing to do with preparedness, it’s a fear of the unknown, fear of change, and ultimately fear of failing that keep so many people on the sidelines of their life.
Today I’m happy to have a young man named Josten, who blogs at Positivewayoflife.com, share his thoughts on overcoming fear.
Overcoming Fear Has Everything to do With You
If you are wondering how to overcome fear it is not that hard to do. I’ve overcame many different types of fears. Fear of failing, fear of not being as good as the next person. Mainly any type of fear you can think of.
My fear first came when I was younger trying to live up to standards I believed where set for me. So as anyone would do i started to try and live up to them. By doing what I believed was right. (more)
Today I’m happy to have a young man named Josten, who blogs at Positivewayoflife.com, share his thoughts on overcoming fear.
Overcoming Fear Has Everything to do With You
If you are wondering how to overcome fear it is not that hard to do. I’ve overcame many different types of fears. Fear of failing, fear of not being as good as the next person. Mainly any type of fear you can think of.
My fear first came when I was younger trying to live up to standards I believed where set for me. So as anyone would do i started to try and live up to them. By doing what I believed was right. (more)
Entrepreneur: Are Gen Y Workers Good for Business?
In his new book The Future Arrived Yesterday: The Rise of the Protean Corporation and What It Means for You (Crown Business), business and technology journalist Michael S. Malone argues that a new generation of young Americans entering the workforce -- Generation Y -- isn't the best choice if you want loyal, hard-working, long-hour employees on your team.
"Managing this generation may not only be a nightmare, it may actually be impossible," Malone writes. "It is quite likely that some sizable percentage of these new workers (and, being the so- called "echo" of the Baby Boom, their numbers are huge) will never work in a steady job on the payroll of a single employer. And an equally large segment may never know a career different from that of a 'permanent part-timer,' contractor, or consultant."
Malone cites a piece written by Jake Halpern in the Boston Globe Magazine in which that author says evidence might suggest "this generation, which is flooding into the workplace, will create chaotic, unpleasant, and utterly unproductive work environments that will drive many a good business directly into the ground ..." (more)
"Managing this generation may not only be a nightmare, it may actually be impossible," Malone writes. "It is quite likely that some sizable percentage of these new workers (and, being the so- called "echo" of the Baby Boom, their numbers are huge) will never work in a steady job on the payroll of a single employer. And an equally large segment may never know a career different from that of a 'permanent part-timer,' contractor, or consultant."
Malone cites a piece written by Jake Halpern in the Boston Globe Magazine in which that author says evidence might suggest "this generation, which is flooding into the workplace, will create chaotic, unpleasant, and utterly unproductive work environments that will drive many a good business directly into the ground ..." (more)
AME Info: American Chamber of Commerce in Jordan celebrates tenth anniversary
The American Chamber of Commerce in Jordan (AmCham-Jordan) recently celebrated its tenth anniversary with a gala dinner at the Sheraton Amman Al Nabil Hotel & Towers.
Attending the festive event were esteemed guests of honor, the Minister of Industry and Trade, H.E Engineer Amer Al Hadidi, and the United States Ambassador to Jordan, Ambassador R. Stephen Beecroft. During the celebration, an award ceremony was held as a tribute to former AmCham-Jordan Chairmen and CEOs, the United States Agency for International Development (USAID) Mission Director, and to the guests of honor, Minister of Industry and Trade, and the United States Ambassador to Jordan. The Chairman of AmCham-Jordan, Mohammad Sa'ad Al Bataineh, also gave a speech highlighting the Chamber's accomplishments in Jordan over the past ten years.
'It is a great source of both pride and pleasure to celebrate the tenth anniversary of the American Chamber of Commerce in Jordan. This is not only an exceptional achievement in and of itself, but also testament to the successful partnership between Jordan and the U.S. and another step forward on the path to increasing bilateral trade between the two countries. Over the past ten years, we have endeavored to initiate and grasp the trade and investment opportunities that arise, thereby cementing relations between the two countries, strengthening the capacity of the business community, and increasing the benefits for all involved,'he stated. (more)
Attending the festive event were esteemed guests of honor, the Minister of Industry and Trade, H.E Engineer Amer Al Hadidi, and the United States Ambassador to Jordan, Ambassador R. Stephen Beecroft. During the celebration, an award ceremony was held as a tribute to former AmCham-Jordan Chairmen and CEOs, the United States Agency for International Development (USAID) Mission Director, and to the guests of honor, Minister of Industry and Trade, and the United States Ambassador to Jordan. The Chairman of AmCham-Jordan, Mohammad Sa'ad Al Bataineh, also gave a speech highlighting the Chamber's accomplishments in Jordan over the past ten years.
'It is a great source of both pride and pleasure to celebrate the tenth anniversary of the American Chamber of Commerce in Jordan. This is not only an exceptional achievement in and of itself, but also testament to the successful partnership between Jordan and the U.S. and another step forward on the path to increasing bilateral trade between the two countries. Over the past ten years, we have endeavored to initiate and grasp the trade and investment opportunities that arise, thereby cementing relations between the two countries, strengthening the capacity of the business community, and increasing the benefits for all involved,'he stated. (more)
Monday, June 22, 2009
NPR: The Entrepreneurial Spirit Burns Bright In Detroit
By Judy Woodruff
John Hughes and his business partner want to make money by encouraging Detroit residents to spend it — in Detroit.
It's hard to imagine how to help the failing city in the state with the highest unemployment rate. But this 25-year-old is determined. And helping his city is one of the things that Hughes says drives him to work with little time off and no time for dates — all while still living at home with his parents.
"And that's what allows me to get excited about the idea, whereas if I were just opening ... a real estate company or something like that, I don't know if I'd be as excited about it," Hughes tells NPR guest correspondent Judy Woodruff. "Because ... I can make money, but is that all I'm going to do at the end of the day?" (more)
John Hughes and his business partner want to make money by encouraging Detroit residents to spend it — in Detroit.
It's hard to imagine how to help the failing city in the state with the highest unemployment rate. But this 25-year-old is determined. And helping his city is one of the things that Hughes says drives him to work with little time off and no time for dates — all while still living at home with his parents.
"And that's what allows me to get excited about the idea, whereas if I were just opening ... a real estate company or something like that, I don't know if I'd be as excited about it," Hughes tells NPR guest correspondent Judy Woodruff. "Because ... I can make money, but is that all I'm going to do at the end of the day?" (more)
Young Entrepreneur: Why a great logo design is key to your business
By Matthew Toren
First impressions are everything. We know this from our daily life experience, where we are constantly discovering new people, places, products and services and making instantaneous, subconscious, assumptions. When it comes to your business, one of the first impressions that a client gets to see is your logo. It should be a well conceived, well designed instant interpretation of everything that your business stands for. So, when it comes to designing a logo, there’s no pressure, right?
It’s crucial to understand several key elements when it comes to designing a great logo for your business. Firstly, you should do some soul-searching. Do you have the funds or resources to be able to employ the services of a professional logo designer? Whilst this person or company may be the answer to your problem, many new businesses rarely have the funds available to go down this route. As this is often the case, here are some of those key elements to consider as you come up with your own masterpiece. (more)
First impressions are everything. We know this from our daily life experience, where we are constantly discovering new people, places, products and services and making instantaneous, subconscious, assumptions. When it comes to your business, one of the first impressions that a client gets to see is your logo. It should be a well conceived, well designed instant interpretation of everything that your business stands for. So, when it comes to designing a logo, there’s no pressure, right?
It’s crucial to understand several key elements when it comes to designing a great logo for your business. Firstly, you should do some soul-searching. Do you have the funds or resources to be able to employ the services of a professional logo designer? Whilst this person or company may be the answer to your problem, many new businesses rarely have the funds available to go down this route. As this is often the case, here are some of those key elements to consider as you come up with your own masterpiece. (more)
MENAFN: Jordan to Federation of Arab Businessmen for Another Term until 2013
(MENAFN - Jordan Times) The Federation of Arab Businessmen (FAB) on Saturday reelected Jordan to head the federation for another term until 2013.
During a meeting held in Amman, the federation looked into means to implement the decision taken during the Kuwait Economic Summit in January as well as other issues that concerns the Arab world such as food safety, road and railway networks between Arab countries and cooperation in the field of energy.
Hamdi Tabbaa, president of FAB and the Jordanian Businessmen Association, said another meeting will be held soon to discuss investment projects in Arab countries. FAB was established and Amman is the headquarter.
During a meeting held in Amman, the federation looked into means to implement the decision taken during the Kuwait Economic Summit in January as well as other issues that concerns the Arab world such as food safety, road and railway networks between Arab countries and cooperation in the field of energy.
Hamdi Tabbaa, president of FAB and the Jordanian Businessmen Association, said another meeting will be held soon to discuss investment projects in Arab countries. FAB was established and Amman is the headquarter.
Gulf News: Jordan's quarterly growth falls to 3.2%
Amman: Jordan's economic growth rate eased to an annual 3.2 per cent in the first quarter from 4.1 per cent in the last three months of 2008 as mining and services contracted.
Mining and quarrying shrank 12 per cent, compared with 14.5 per cent in the last quarter of 2008. Finance, insurance and real estate contracted 1.2 per cent, compared with an expansion of 1.6 per cent in the previous three months, the Amman-based Department of Statistics said in an e-mailed statement. The kingdom's economy grew 7.9 per cent last year, revised from 5.6 per cent, the government agency said.
Economic growth may ease to four per cent this year as the global economic slowdown leads to less investment from the Arabian Gulf states, which account for 70 per cent of foreign cash, Finance Minister Bassem Salem said on April 20. (more)
Mining and quarrying shrank 12 per cent, compared with 14.5 per cent in the last quarter of 2008. Finance, insurance and real estate contracted 1.2 per cent, compared with an expansion of 1.6 per cent in the previous three months, the Amman-based Department of Statistics said in an e-mailed statement. The kingdom's economy grew 7.9 per cent last year, revised from 5.6 per cent, the government agency said.
Economic growth may ease to four per cent this year as the global economic slowdown leads to less investment from the Arabian Gulf states, which account for 70 per cent of foreign cash, Finance Minister Bassem Salem said on April 20. (more)
Sunday, June 21, 2009
Huffington Post: Honoring World Refugee Day
By Queen Noor of Jordan
For 35 years, my home has been one of the world's major conflict regions, home also to over 10 million refugees and displaced inhabitants. World Refugee Day (June 20) is a time to honor and support these individuals and families who persevere through devastating tragedies.
I have lived and worked with the nearly 6 million Palestinian refugees and now nearly 5 million displaced Iraqis, many from each group now making their homes in Jordan. I have also worked with displaced people from Afghanistan, Colombia, Somalia, and those seeking safe haven during the first Gulf War. I have witnessed first-hand the anguish of those uprooted from their homes -- people who have had their lives threatened, homes bombed, and family members kidnapped or murdered.
The global displacement crisis is both a humanitarian and a security issue. History shows that mass migrations pose a serious threat to regional stability, as we have seen in Palestine, Afghanistan, Somalia, Sudan and West Africa. The Middle East is particularly vulnerable as ongoing tensions are further strained by such large scale displacement. (more)
For 35 years, my home has been one of the world's major conflict regions, home also to over 10 million refugees and displaced inhabitants. World Refugee Day (June 20) is a time to honor and support these individuals and families who persevere through devastating tragedies.
I have lived and worked with the nearly 6 million Palestinian refugees and now nearly 5 million displaced Iraqis, many from each group now making their homes in Jordan. I have also worked with displaced people from Afghanistan, Colombia, Somalia, and those seeking safe haven during the first Gulf War. I have witnessed first-hand the anguish of those uprooted from their homes -- people who have had their lives threatened, homes bombed, and family members kidnapped or murdered.
The global displacement crisis is both a humanitarian and a security issue. History shows that mass migrations pose a serious threat to regional stability, as we have seen in Palestine, Afghanistan, Somalia, Sudan and West Africa. The Middle East is particularly vulnerable as ongoing tensions are further strained by such large scale displacement. (more)
The Entrepreneurial Mind: Entre-Boomers Rule
By Jeff Cornwall
There has been quite a bit of discussion lately about the role the Entre-Boomers (those of us from the Baby Boomer generation who are pursuing entrepreneurship) in the economy. Now that we are in what looks to be a prolonged economic lull, the role of Entre-Boomers may become more important than ever.
My colleague John Wark sent along a discussion about this that was published this week at The American:
Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurial activity (a measurement of new business creation) belongs to the 55-64 age group. The 20-34 age bracket meanwhile--which we usually identify with swashbuckling and risk-taking youth (think Facebook and Google)--has the lowest. Perhaps most surprising, this disparity occurred even during the decade surrounding the dot-com boom--when the young entrepreneurial upstart became a cultural icon. (more)
There has been quite a bit of discussion lately about the role the Entre-Boomers (those of us from the Baby Boomer generation who are pursuing entrepreneurship) in the economy. Now that we are in what looks to be a prolonged economic lull, the role of Entre-Boomers may become more important than ever.
My colleague John Wark sent along a discussion about this that was published this week at The American:
Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurial activity (a measurement of new business creation) belongs to the 55-64 age group. The 20-34 age bracket meanwhile--which we usually identify with swashbuckling and risk-taking youth (think Facebook and Google)--has the lowest. Perhaps most surprising, this disparity occurred even during the decade surrounding the dot-com boom--when the young entrepreneurial upstart became a cultural icon. (more)
Harvard Business: How the Army Prepared Me to Work at Google
By Doug Raymond
Upon learning of my military background, one of my Google team members exclaimed, "You don't seem like an Army guy! It must be so different for you here". His assumption was that an ex-military officer would be more comfortable barking orders to a line of soldiers standing at attention than debating product features with a software development team. Well, he was right in some regards. Google is a very different environment from the tank platoon I led at the beginning of my Army career. We've got better food, a more relaxed dress code, and a very flat organizational structure. However, the leadership qualities that make an Army officer and a leader of an innovative organization successful have a lot in common. What I and many of my fellow ex-military leaders at Google have found is that military leadership experience has prepared us well to succeed in a fast-moving, innovative environment.
Communicate the mission. Officers are often evaluated by how well their soldiers understand the mission of the unit and their role in accomplishing it. In an innovative organization roles are often fluid and only roughly defined, so communication of a vision is even more important. Just as soldiers confront unexpected challenges on the battlefield, employees in innovative companies are faced with hard problems with no well-defined approach to solve them. Google's founders have been particularly effective at challenging us to "organize the world's information" without telling us how to do it. Successful military leaders exhibit a similar ability to define a challenging mission and inspire their troops to believe that they are up to the task of getting it done. (more)
Upon learning of my military background, one of my Google team members exclaimed, "You don't seem like an Army guy! It must be so different for you here". His assumption was that an ex-military officer would be more comfortable barking orders to a line of soldiers standing at attention than debating product features with a software development team. Well, he was right in some regards. Google is a very different environment from the tank platoon I led at the beginning of my Army career. We've got better food, a more relaxed dress code, and a very flat organizational structure. However, the leadership qualities that make an Army officer and a leader of an innovative organization successful have a lot in common. What I and many of my fellow ex-military leaders at Google have found is that military leadership experience has prepared us well to succeed in a fast-moving, innovative environment.
Communicate the mission. Officers are often evaluated by how well their soldiers understand the mission of the unit and their role in accomplishing it. In an innovative organization roles are often fluid and only roughly defined, so communication of a vision is even more important. Just as soldiers confront unexpected challenges on the battlefield, employees in innovative companies are faced with hard problems with no well-defined approach to solve them. Google's founders have been particularly effective at challenging us to "organize the world's information" without telling us how to do it. Successful military leaders exhibit a similar ability to define a challenging mission and inspire their troops to believe that they are up to the task of getting it done. (more)
Inc.: Can Entrepreneurship Crack the Glass Ceiling for Asians?
By April Joyner
Two recent studies by the Asian Society and Ascend indicate that entrepreneurship is the sole bright spot in a somewhat depressed outcome for Asian Americans in business over the past ten years. While 23 percent of Bay Area residents are Asian, they comprise just 5 percent of board members in the top 100 Bay Area firms and 13 percent of CEOs in the top 100 Bay Area firms. Six of those CEOs, however, were also founders of their companies.
That entrepreneurs are well represented among top Asian American executives comes as no surprise to anyone familiar with companies such as Yahoo! and Sun Microsystems. But those successes, say Buck Gee and Wesley Hom, co-authors of the study, obscure many persistent obstacles. "When you look at Asians, by and large you see success stories," Gee says. "But the Asian population in Silicon Valley is 30 percent. There could be a lot more in those ranks."
Previous studies have supported the notion that many minority and immigrant entrepreneurs start their companies because they perceive a lack of opportunity elsewhere. Building their own businesses may be a more effective means of attaining executive positions than attempting to ascend the ranks through technical positions (more)
Two recent studies by the Asian Society and Ascend indicate that entrepreneurship is the sole bright spot in a somewhat depressed outcome for Asian Americans in business over the past ten years. While 23 percent of Bay Area residents are Asian, they comprise just 5 percent of board members in the top 100 Bay Area firms and 13 percent of CEOs in the top 100 Bay Area firms. Six of those CEOs, however, were also founders of their companies.
That entrepreneurs are well represented among top Asian American executives comes as no surprise to anyone familiar with companies such as Yahoo! and Sun Microsystems. But those successes, say Buck Gee and Wesley Hom, co-authors of the study, obscure many persistent obstacles. "When you look at Asians, by and large you see success stories," Gee says. "But the Asian population in Silicon Valley is 30 percent. There could be a lot more in those ranks."
Previous studies have supported the notion that many minority and immigrant entrepreneurs start their companies because they perceive a lack of opportunity elsewhere. Building their own businesses may be a more effective means of attaining executive positions than attempting to ascend the ranks through technical positions (more)
Inc.: International Trade Could Boost Small Business
By Meredith Maines
International trade could be the key to jump starting a stagnate economy, believes Sen. Mary Landrieu, D–La.
Landrieu, chair of the U.S. Senate Committee on Small Business and Entrepreneurship, presented a bill June 8 that calls for the creation of an assistant U.S. trade representative with a small business focus.
"By creating jobs and lessening the trade deficit, an increase in small business trade will lead us out of this recession and make our country better able to compete," Landrieu said at the bill's introduction.
Even though small businesses represent about 97 percent of the country's exporters, the committee says the market is still dominated by large firms. And because every $1 billion created by exporting produces 14,000 high-paying jobs, Landrieu is working to improve the SBA's Office of International Trade. (more)
International trade could be the key to jump starting a stagnate economy, believes Sen. Mary Landrieu, D–La.
Landrieu, chair of the U.S. Senate Committee on Small Business and Entrepreneurship, presented a bill June 8 that calls for the creation of an assistant U.S. trade representative with a small business focus.
"By creating jobs and lessening the trade deficit, an increase in small business trade will lead us out of this recession and make our country better able to compete," Landrieu said at the bill's introduction.
Even though small businesses represent about 97 percent of the country's exporters, the committee says the market is still dominated by large firms. And because every $1 billion created by exporting produces 14,000 high-paying jobs, Landrieu is working to improve the SBA's Office of International Trade. (more)
Small Business Trends: Email Marketing Success Is About Relevance
By Lisa Barone
Though it may sit in the shadows of today’s shiner marketing techniques, email marketing continues to be an effective, low-cost way for SMB owners to reach out to, inform and retain current customers. In fact, according to new numbers from Forrester Research, email marketing will reach $2 billion by 2014. And that’s a very good thing.
Email marketing is effective for one simple reason: Customers like receiving targeted messages from companies they care about. They like when they’re emailed about things they’ve already shown in an interest in. And that’s where the email thrives.
Email marketing is all about customer retention. It’s about building stronger relationships with customers who already know you and decided that, yes, they want to keep hearing from you. They want to stay up to date on what you’re doing, they want to hear about new products, they want to hear about hot deals, etc. The messages that land in their inbox help keep your company name in their top of mind and force them to constantly be thinking about you. WebProNews took a look at the Forrester Research and quoted an Epilson brand study that said that 84 percent of recipients like receiving emails from companies with whom they’ve subscribed to their newsletter. Eighty four percent. That’s impressive. It’s hard to get 84 percent of people to agree on anything. (more)
Though it may sit in the shadows of today’s shiner marketing techniques, email marketing continues to be an effective, low-cost way for SMB owners to reach out to, inform and retain current customers. In fact, according to new numbers from Forrester Research, email marketing will reach $2 billion by 2014. And that’s a very good thing.
Email marketing is effective for one simple reason: Customers like receiving targeted messages from companies they care about. They like when they’re emailed about things they’ve already shown in an interest in. And that’s where the email thrives.
Email marketing is all about customer retention. It’s about building stronger relationships with customers who already know you and decided that, yes, they want to keep hearing from you. They want to stay up to date on what you’re doing, they want to hear about new products, they want to hear about hot deals, etc. The messages that land in their inbox help keep your company name in their top of mind and force them to constantly be thinking about you. WebProNews took a look at the Forrester Research and quoted an Epilson brand study that said that 84 percent of recipients like receiving emails from companies with whom they’ve subscribed to their newsletter. Eighty four percent. That’s impressive. It’s hard to get 84 percent of people to agree on anything. (more)
Thursday, June 18, 2009
Entrepreneur: Economic Recovery in Sight, Economists Say
By Jennifer Wang
Good news from the 2009 Chapman University Economic Forecast: Expect the recovery to begin in the next few months.
During an event held this morning in Orange County, Calif., Chapman University president James Doti and Esmael Adibi, director of the A. Gary Anderson Center for Economic Research, presented an update of the 2009 Forecast to an audience of approximately 800 business and community leaders. They reaffirmed the predictions first given in December 2008, and pointed to signs that the economy is on its way up.
On the plus side, the banking sector is "almost out of the woods," stocks have rebounded, consumer confidence is finally rising and housing remains affordable. And most likely, the recovery won't be W-shaped, which would be the case if the stimulus was the only thing supporting a turnaround. (more)
Good news from the 2009 Chapman University Economic Forecast: Expect the recovery to begin in the next few months.
During an event held this morning in Orange County, Calif., Chapman University president James Doti and Esmael Adibi, director of the A. Gary Anderson Center for Economic Research, presented an update of the 2009 Forecast to an audience of approximately 800 business and community leaders. They reaffirmed the predictions first given in December 2008, and pointed to signs that the economy is on its way up.
On the plus side, the banking sector is "almost out of the woods," stocks have rebounded, consumer confidence is finally rising and housing remains affordable. And most likely, the recovery won't be W-shaped, which would be the case if the stimulus was the only thing supporting a turnaround. (more)
Business Writing: Using . . . Ellipses
By Lynn Gaertner-Johnston
I don't know whether you have any punctuation marks that are hard for you to keep straight. I have only one whose spacing and length challenge me: the ellipsis.
Last week a client emailed me with an ellipsis question, and I realized I have to face the ellipsis and write about it here if I want to maintain my reputation as a business writing expert. So this post is for my reputation and our edification (yours and mine), I hope.
Here are a few things I understand well about ellipses: (more)
I don't know whether you have any punctuation marks that are hard for you to keep straight. I have only one whose spacing and length challenge me: the ellipsis.
Last week a client emailed me with an ellipsis question, and I realized I have to face the ellipsis and write about it here if I want to maintain my reputation as a business writing expert. So this post is for my reputation and our edification (yours and mine), I hope.
Here are a few things I understand well about ellipses: (more)
The Entrepreneurial Mind: Bootstrappers Offer Ideas to Save Money
By Jeff Cornwall
Jeremy Quittner at Business Week has some great ideas for entrepreneurs from entrepreneurs on creative ways to bootstrap during tight times like these.Nothing revolutionary here, but lots of good suggestions. Here is one sample related to equipment:
Printers, desks, telephones, and monitors are the lifeblood of your business, and they can be costly. For big-ticket items, head to the "free" section on craigslist or freecycle listings. If you're willing to pick through offers for floral love seats, Star Wars figurines, and '70s-era shag rugs, you'll also likely stumble on Epson printers, Ikea desks, file cabinets, and shelving, and they won't cost you a penny. You can list your needs there as well. Gary Cassera, owner of Balanced Dog, a Marlton (N.J.) dog walking and training business with about $100,000 in sales, says he found three free kennel cages by posting on craigslist. "Most times these things just sit in people's garages," Cassera explains.
Then there are yard sales, the Salvation Army, Goodwill, and your local thrift store. Companies going out of business often donate what they can't otherwise get rid of, says Jeff Yeager, author of The Ultimate Cheapskate's Road Map to True Riches. "A week does not go by when I don't go to a thrift store," he says. (more)
Jeremy Quittner at Business Week has some great ideas for entrepreneurs from entrepreneurs on creative ways to bootstrap during tight times like these.Nothing revolutionary here, but lots of good suggestions. Here is one sample related to equipment:
Printers, desks, telephones, and monitors are the lifeblood of your business, and they can be costly. For big-ticket items, head to the "free" section on craigslist or freecycle listings. If you're willing to pick through offers for floral love seats, Star Wars figurines, and '70s-era shag rugs, you'll also likely stumble on Epson printers, Ikea desks, file cabinets, and shelving, and they won't cost you a penny. You can list your needs there as well. Gary Cassera, owner of Balanced Dog, a Marlton (N.J.) dog walking and training business with about $100,000 in sales, says he found three free kennel cages by posting on craigslist. "Most times these things just sit in people's garages," Cassera explains.
Then there are yard sales, the Salvation Army, Goodwill, and your local thrift store. Companies going out of business often donate what they can't otherwise get rid of, says Jeff Yeager, author of The Ultimate Cheapskate's Road Map to True Riches. "A week does not go by when I don't go to a thrift store," he says. (more)
Small Business Trends: Google Offers Free Business Dashboard for SMBs
By Lisa Barone
If you’ve been holding out for just one more reason to list your small business in Google’s Local Business Center, you’ve got it. Google is now offering a full dashboard of information to small businesses who are proactive enough to verify their company’s listing. The dashboards contain information intended to help SMB owners understand where their visitors are coming from and how they found them in the search results.
Starting this month, small business owners who create and verify their business listing in Google’s Local Business Center will be privy to their own customized dashboard that reveals stats like how often people visit your site, your top search queries, how many times people asked for driving directions and the cities the people who ask are from. If you take a step back, you’ll see that Google is really offering basic analytic data to help you understand and improve your Web site. Through the Local Business Center dashboard, you’re given a strong look into what terms you’re ranking well for, where you need to improve, and maybe even whether or not you need to open up a new location in a popular area.
The motive for Google’s generosity is very likely two-fold.
First, they want small business owners to verify their business listings so that they’re more accurate and are therefore more useful to searchers. The more complete Google’s listings are, the more people will use them, and the bigger Google Local will grow. However, you have to wonder if Google isn’t also doing a good job setting up small business owners to dive into the area of paid local search by encouraging the use of free analytics. (more)
If you’ve been holding out for just one more reason to list your small business in Google’s Local Business Center, you’ve got it. Google is now offering a full dashboard of information to small businesses who are proactive enough to verify their company’s listing. The dashboards contain information intended to help SMB owners understand where their visitors are coming from and how they found them in the search results.
Starting this month, small business owners who create and verify their business listing in Google’s Local Business Center will be privy to their own customized dashboard that reveals stats like how often people visit your site, your top search queries, how many times people asked for driving directions and the cities the people who ask are from. If you take a step back, you’ll see that Google is really offering basic analytic data to help you understand and improve your Web site. Through the Local Business Center dashboard, you’re given a strong look into what terms you’re ranking well for, where you need to improve, and maybe even whether or not you need to open up a new location in a popular area.
The motive for Google’s generosity is very likely two-fold.
First, they want small business owners to verify their business listings so that they’re more accurate and are therefore more useful to searchers. The more complete Google’s listings are, the more people will use them, and the bigger Google Local will grow. However, you have to wonder if Google isn’t also doing a good job setting up small business owners to dive into the area of paid local search by encouraging the use of free analytics. (more)
Wednesday, June 17, 2009
Guardian: Jordanian banks resilient but face harsher times
By Suleiman al-Khalidi
AMMAN, June 17 (Reuters) - Jordanian banks enjoy sound financials that have allowed them to escape the worst of the global financial crisis, but property market downturns threaten to dent their bottom line, bankers and investment analysts said.
The country's 23 commercial banks, which hold 19 billion dinars ($26.8 bln) in deposits, have had minimal exposure to Western markets, and a strong supervisory system run by an independent central bank has limited their currency, property and stockmarket exposure.
"Jordan's banks were not directly affected in their investment portfolio from the crisis and a regulatory framework has been effective in encouraging and promoting risk management," said former central bank governor and finance minister Ziyad Fariz.
But the banks' bottom line and average profitability this year will be hurt as a result of the weakening of the Jordanian economy, hurt by the slowdown in the Gulf Arab states, a main source of remittances and foreign direct investment. (more)
AMMAN, June 17 (Reuters) - Jordanian banks enjoy sound financials that have allowed them to escape the worst of the global financial crisis, but property market downturns threaten to dent their bottom line, bankers and investment analysts said.
The country's 23 commercial banks, which hold 19 billion dinars ($26.8 bln) in deposits, have had minimal exposure to Western markets, and a strong supervisory system run by an independent central bank has limited their currency, property and stockmarket exposure.
"Jordan's banks were not directly affected in their investment portfolio from the crisis and a regulatory framework has been effective in encouraging and promoting risk management," said former central bank governor and finance minister Ziyad Fariz.
But the banks' bottom line and average profitability this year will be hurt as a result of the weakening of the Jordanian economy, hurt by the slowdown in the Gulf Arab states, a main source of remittances and foreign direct investment. (more)
ZDNetAsia: Jordan’s Internet minister on piracy, open source, outsourcing
By Declan McCullagh
Unlike its neighbors to the south and east, it enjoys no vast oil wealth. It shares the region's longest border with Israel, about 150 miles, and signed a peace treaty with its neighbor in 1994. Although the northern third of the country benefits from a Mediterranean climate, the rest is largely desert.
That leaves outsourcing and other businesses as one obvious bright spot, and Jordan is hoping to enlist computer technology and the Internet to fight an unemployment rate that probably hovers around 30 percent, thanks in part to the hundreds of thousands of Iraqi and Palestinian refugees the country has taken in.
Embracing the Internet also means trying to reconcile its rollicking, unruly culture of free expression with a population that's about 92 percent Muslim and a society that's far from as strict as neighboring Saudi Arabia--but nevertheless conservative enough to prompt most women to follow the dictates of the hijab by wearing head scarves.
Jordan has had flare-ups of offline and online censorship, including imprisoning a female member of Parliament (since pardoned by King Abdullah) and encouraging bloggers to self-censor. Reporters Without Borders says that even though a law providing for prison terms for press offenses was canceled, journalists remain under pressure. (more)
Unlike its neighbors to the south and east, it enjoys no vast oil wealth. It shares the region's longest border with Israel, about 150 miles, and signed a peace treaty with its neighbor in 1994. Although the northern third of the country benefits from a Mediterranean climate, the rest is largely desert.
That leaves outsourcing and other businesses as one obvious bright spot, and Jordan is hoping to enlist computer technology and the Internet to fight an unemployment rate that probably hovers around 30 percent, thanks in part to the hundreds of thousands of Iraqi and Palestinian refugees the country has taken in.
Embracing the Internet also means trying to reconcile its rollicking, unruly culture of free expression with a population that's about 92 percent Muslim and a society that's far from as strict as neighboring Saudi Arabia--but nevertheless conservative enough to prompt most women to follow the dictates of the hijab by wearing head scarves.
Jordan has had flare-ups of offline and online censorship, including imprisoning a female member of Parliament (since pardoned by King Abdullah) and encouraging bloggers to self-censor. Reporters Without Borders says that even though a law providing for prison terms for press offenses was canceled, journalists remain under pressure. (more)
Young Entrepreneur: Interview with Bobby Chang
This week our interview is with Bobby Chang.
Bobby Chang is the COO of Rapidshare.com, one of the worlds most visited websites, with an Alexa ranking of just 15!
1. You have had considerable success with the launch of RapidShare in 2006.What business were you in prior to this?
I was in telecommunication voice and IP business before joining RapidShare, and the team already had a lot of experience in file hosting.
2. You always talk about learning lessons and moving on, what lessons did you take with you into the launch of RapidShare?
I knew that technology is one of the keys to success. You need a high performing system landscape to match the users´ expectations. Another lesson I had learned was to always listen to the users carefully. Some companies loose this ability as they grow and I am always trying to match the users’ needs as quickly as possible.
3. What is your educational background, do you believe that the traditionaleducation system fosters entrepreneurial spirit? (more)
Bobby Chang is the COO of Rapidshare.com, one of the worlds most visited websites, with an Alexa ranking of just 15!
1. You have had considerable success with the launch of RapidShare in 2006.What business were you in prior to this?
I was in telecommunication voice and IP business before joining RapidShare, and the team already had a lot of experience in file hosting.
2. You always talk about learning lessons and moving on, what lessons did you take with you into the launch of RapidShare?
I knew that technology is one of the keys to success. You need a high performing system landscape to match the users´ expectations. Another lesson I had learned was to always listen to the users carefully. Some companies loose this ability as they grow and I am always trying to match the users’ needs as quickly as possible.
3. What is your educational background, do you believe that the traditionaleducation system fosters entrepreneurial spirit? (more)
Small Biz Bee: 10 Business Lessons Learned
In sticking with that theme a little while longer, here’s another great list of 10 business lessons learned. Some of my favorites from the presentation include:
1. Differentiate yourself – like you differentiate your product
2. Business is about cycles (and luck)
3. You can’t be a great leader unless you’ve been through a crisis
4. Some of your best learning will come from your worst boss
5. Hire people different than you, and capable in many more things (more)
1. Differentiate yourself – like you differentiate your product
2. Business is about cycles (and luck)
3. You can’t be a great leader unless you’ve been through a crisis
4. Some of your best learning will come from your worst boss
5. Hire people different than you, and capable in many more things (more)
On Startups: 10 Things An Angel Investor Will Never Say
By Dharmesh Shah
1. I really want to support entrepreneurs — but just those that are going to make me money.
2. I dread having to explain your business idea to my spouse (who can veto any deal).
3. I don’t really have enough stake in your company to spam my network on your behalf.
4. I was lying when I said that some of my best friends were VCs. Even VCs aren’t best friends with VCs.
5. I have no idea what the hell you’re talking about 50% of the time. What’s a socially-semantic mobile platform for non-virtual currency mean? (Oh, it’s an iPhone/Facebook payment app). (more)
1. I really want to support entrepreneurs — but just those that are going to make me money.
2. I dread having to explain your business idea to my spouse (who can veto any deal).
3. I don’t really have enough stake in your company to spam my network on your behalf.
4. I was lying when I said that some of my best friends were VCs. Even VCs aren’t best friends with VCs.
5. I have no idea what the hell you’re talking about 50% of the time. What’s a socially-semantic mobile platform for non-virtual currency mean? (Oh, it’s an iPhone/Facebook payment app). (more)
CEO Blog: How the Mighty Fall Book Review
I am at the end of week 2 as President and CEO of Nu Horizons Electronics. This puts me at halfway through my first month which I called the "Listen and Learn stage". (Of course that does not mean that I will know it all at the end of the month or that I will stop learning).
I have learned a lot. I do notice that I have a propensity to take action though and find it hard to "hold back" and just listen. I particularly have difficulty when I have an idea that I think can truly add value (my quest is always to add value). But what I need to consider is do I really know the real situation and is my idea really a good one?
I have a high propensity to action and a very high sense of urgency. I think that is one characteristics that helps companies and people succeed. (more)
I have learned a lot. I do notice that I have a propensity to take action though and find it hard to "hold back" and just listen. I particularly have difficulty when I have an idea that I think can truly add value (my quest is always to add value). But what I need to consider is do I really know the real situation and is my idea really a good one?
I have a high propensity to action and a very high sense of urgency. I think that is one characteristics that helps companies and people succeed. (more)
The Entrepreneurial Mind: Keep Your Eye on Target Market
By Jeff Cornwall
These days many entrepreneurs are struggling to find enough customers just to keep the doors open. While survival is the key right now, be careful not to set the stage for a business model that won't be sustainable when the good times return.
Understanding who our target market is and what they want from us as customers, are the keys to developing a brand that customers will remain loyal to over time. It help to create what marketing folks like to call our product positioning. A strong market position can help protect sales over the long-term, even during economic downturns.
Steve McKee reminds us of the importance of a clear target market in our businesses in his recent article in Business Week: (more)
These days many entrepreneurs are struggling to find enough customers just to keep the doors open. While survival is the key right now, be careful not to set the stage for a business model that won't be sustainable when the good times return.
Understanding who our target market is and what they want from us as customers, are the keys to developing a brand that customers will remain loyal to over time. It help to create what marketing folks like to call our product positioning. A strong market position can help protect sales over the long-term, even during economic downturns.
Steve McKee reminds us of the importance of a clear target market in our businesses in his recent article in Business Week: (more)
Young Entrepreneur: The keys to a great PR campaign
By Matthew Toren
Much has been written about the ways to write a “killer” press release. You can get advice about form, formats, the title, the heading, the various technical specs - such as city of announcement, date and time - and even the best way to signoff. Don’t spend all your time focusing on the creation of your press release. Make sure that you have all the elements in place to ensure that your PR campaign is successful and extends beyond the simple creation of a press release itself.
Consider the four “Ps” when it comes to establishing the groundwork for a successful PR campaign. Make sure that you are prepared for the follow-up. Line up all these elements in advance — photography, pitch, profile and pack.
Make sure that you have a great selection of photography available. This will include projects, screenshots, shots of the spokesperson, and anything else that is relevant. Try and have a good selection of photographs available, rather than using the same one, which might be reproduced many times in the media. Make sure that you have high-quality content. Many journalists use digital images, so make sure that these are provided with a resolution of at least 300 dots per inch (300 dpi). (more)
Much has been written about the ways to write a “killer” press release. You can get advice about form, formats, the title, the heading, the various technical specs - such as city of announcement, date and time - and even the best way to signoff. Don’t spend all your time focusing on the creation of your press release. Make sure that you have all the elements in place to ensure that your PR campaign is successful and extends beyond the simple creation of a press release itself.
Consider the four “Ps” when it comes to establishing the groundwork for a successful PR campaign. Make sure that you are prepared for the follow-up. Line up all these elements in advance — photography, pitch, profile and pack.
Make sure that you have a great selection of photography available. This will include projects, screenshots, shots of the spokesperson, and anything else that is relevant. Try and have a good selection of photographs available, rather than using the same one, which might be reproduced many times in the media. Make sure that you have high-quality content. Many journalists use digital images, so make sure that these are provided with a resolution of at least 300 dots per inch (300 dpi). (more)
Business Writing: Lazy Lies in Testimonials
By Lynn Gaertner-Johnston
I was talking the other day to one of our vendors who is going out of business but starting a new line of work. He had referred me proudly to his new website, and I told him how impressed I was with the testimonials on the site. They were especially impressive because the business is new.
(Note: Testimonials are quotes from customers or clients praising the product or service. They are a form of evidence that the product or service is worth buying.)
He responded, "I'm glad you like them. I wrote all of them."
In response to my questions, I learned, shocked, that our vendor had made up all the testimonials and simply added attributions like "John T." and "Rita M." and "Ellie A."--apparently based on real people who had been his actual first customers. (more)
I was talking the other day to one of our vendors who is going out of business but starting a new line of work. He had referred me proudly to his new website, and I told him how impressed I was with the testimonials on the site. They were especially impressive because the business is new.
(Note: Testimonials are quotes from customers or clients praising the product or service. They are a form of evidence that the product or service is worth buying.)
He responded, "I'm glad you like them. I wrote all of them."
In response to my questions, I learned, shocked, that our vendor had made up all the testimonials and simply added attributions like "John T." and "Rita M." and "Ellie A."--apparently based on real people who had been his actual first customers. (more)
Havard Business: Can Small Changes Save Your Business, and the Planet?
By Andrew Winston
At a recent executive education program on sustainability, I spoke about the many tactical ways to reduce environmental impacts and save money quickly in areas such as facilities, fleet, IT, telework, and waste (these are the main topics in a free special report I put out recently on green cost cutting). To fit the current economic climate, my focus was specifically on short-term, quick wins. After I finished my talk, an interesting challenge came from one of the program faculty: Given the scale of environmental challenges we face, shouldn't we be talking more about systematic, disruptive changes in how we do business?
After the session, one of the attendees, Mike Desso, Head of the Operations Environmental Sustainability Council for Nestle USA, told me he wanted to ask the group a simple question: "Has anyone here done all the things Andrew suggested?" His point was basically that there are still many simple things companies can do — so why debate whether we're doing the "big" things when we haven't even acted on all the "small" ones yet?
The whole discussion got me thinking a lot about the perceived trade offs between incremental and systematic approaches or, similarly, between incremental and disruptive change. The question is not an idle one given the legitimate concern about whether traditional eco-efficiency approaches will be enough to tackle large-scale environmental challenges. (more)
At a recent executive education program on sustainability, I spoke about the many tactical ways to reduce environmental impacts and save money quickly in areas such as facilities, fleet, IT, telework, and waste (these are the main topics in a free special report I put out recently on green cost cutting). To fit the current economic climate, my focus was specifically on short-term, quick wins. After I finished my talk, an interesting challenge came from one of the program faculty: Given the scale of environmental challenges we face, shouldn't we be talking more about systematic, disruptive changes in how we do business?
After the session, one of the attendees, Mike Desso, Head of the Operations Environmental Sustainability Council for Nestle USA, told me he wanted to ask the group a simple question: "Has anyone here done all the things Andrew suggested?" His point was basically that there are still many simple things companies can do — so why debate whether we're doing the "big" things when we haven't even acted on all the "small" ones yet?
The whole discussion got me thinking a lot about the perceived trade offs between incremental and systematic approaches or, similarly, between incremental and disruptive change. The question is not an idle one given the legitimate concern about whether traditional eco-efficiency approaches will be enough to tackle large-scale environmental challenges. (more)
Duct Tape Marketing: The Firefox Small Business Add-on Collection
Users of the Firefox browser know about the capability to extend the browser’s functionality through add-ons. There are thousands of these little tools and more are developed everyday.
While these toolbars and add-ons can help you find, communicate, search, automate, chat, post and tweet, half the battle is finding ones that really add value for your needs.
Recently Firefox introduced what they call add-on collections, giving anyone the ability to put together recommended groups of add-ons with a specific user in mind - power user, designer, web developer, etc. (more)
While these toolbars and add-ons can help you find, communicate, search, automate, chat, post and tweet, half the battle is finding ones that really add value for your needs.
Recently Firefox introduced what they call add-on collections, giving anyone the ability to put together recommended groups of add-ons with a specific user in mind - power user, designer, web developer, etc. (more)
Small Business Trends: The Business of Intellectual Property
By Mark Anderson
This is actually thanks to my wife.
She got a daily book recommendation calendar for Christmas and every so often comes across one she thinks I might like. Max Brooks’ “World War Z: An Oral History of the Zombie War” was one such suggestion, and I loved it.
I’m not normally a zombie fan, but for whatever reason this ignited a two month obsession with zombie films, video games, books, comics, and zombie banks. Though that last one was just good timing. (more)
This is actually thanks to my wife.
She got a daily book recommendation calendar for Christmas and every so often comes across one she thinks I might like. Max Brooks’ “World War Z: An Oral History of the Zombie War” was one such suggestion, and I loved it.
I’m not normally a zombie fan, but for whatever reason this ignited a two month obsession with zombie films, video games, books, comics, and zombie banks. Though that last one was just good timing. (more)
Venture Beat: Trying to sell shares in a private startup? Join the club!
By Matt Marshall
SharesPost is just the latest in a host of companies that are trying to make it easier to buy and sell shares in private companies.
Until recently, the assumption for most startups was that they’d get sold or go public in a reasonable amount of time — say six or seven years. That meant founders and executives of these companies didn’t really worry too much about finding an early way to sell shares.
But the dearth of IPOs — there have been some, but far fewer than in past years — has blown up that assumption and ushered in a set of companies trying to help founders and others sell their shares.
SharesPost says it has an online platform that is the “first to bring true liquidity” to the private equity market, by directly connecting buyers and sellers of private equity, and then automating the stock sale to the buyer. And it does this without charging commission. It has listings to buy and/or sell shares of several recognized private companies, including Facebook, Tesla Motors, SolarCity and XDX. As is the case for most exchanges, buyers must either be institutional investors or individuals with high net-worth, or about $100 million. The Los Angeles company hopes to charge a monthly subscription fee for buyers and sellers. (more)
SharesPost is just the latest in a host of companies that are trying to make it easier to buy and sell shares in private companies.
Until recently, the assumption for most startups was that they’d get sold or go public in a reasonable amount of time — say six or seven years. That meant founders and executives of these companies didn’t really worry too much about finding an early way to sell shares.
But the dearth of IPOs — there have been some, but far fewer than in past years — has blown up that assumption and ushered in a set of companies trying to help founders and others sell their shares.
SharesPost says it has an online platform that is the “first to bring true liquidity” to the private equity market, by directly connecting buyers and sellers of private equity, and then automating the stock sale to the buyer. And it does this without charging commission. It has listings to buy and/or sell shares of several recognized private companies, including Facebook, Tesla Motors, SolarCity and XDX. As is the case for most exchanges, buyers must either be institutional investors or individuals with high net-worth, or about $100 million. The Los Angeles company hopes to charge a monthly subscription fee for buyers and sellers. (more)
Small Business Trends: Best Kept Marketing Secrets: Editor Picks
By Staci Wood
Did you ever notice … it seems that everyone is always more interested in the things they are NOT supposed to know, things such as secrets? It’s true — people love secrets and are attracted to knowledge of “insider information.” And we’ve got some of that here for you.
We’ve got some of our own ”insider information” to share, thanks to YOU, the Small Business Trends community.
You see, one of our most popular articles in the last year has been our collection of “Marketing Secrets.” Over the past several months people have been referencing the article, linking to it, and best of all - even talking about how they used some of the secrets successfully. (more)
Did you ever notice … it seems that everyone is always more interested in the things they are NOT supposed to know, things such as secrets? It’s true — people love secrets and are attracted to knowledge of “insider information.” And we’ve got some of that here for you.
We’ve got some of our own ”insider information” to share, thanks to YOU, the Small Business Trends community.
You see, one of our most popular articles in the last year has been our collection of “Marketing Secrets.” Over the past several months people have been referencing the article, linking to it, and best of all - even talking about how they used some of the secrets successfully. (more)
Inc.: Two Entrepreneurs Plan for Higher Energy Costs
By Alexandra Cheney
With summer gas prices steadily climbing toward $3 per gallon, according to the Energy Information Administration, many entrepreneurs who were hit hard by previous pump price spikes have permanently incorporated energy-saving strategies into their company culture.
For the last 35 years, Rita Henry an employee of Atlanta-based Lathem Time, had driven 70 miles to work every morning. That is, until gas prices rose so sharply she couldn't afford to do so.
Her employer, Bill Lathem, the president and CEO of Lathem Time, a manufacturer of time clocks, door locks and electronic recorders, started a vanpooling program in 2004 as a result of the strain rising gas prices was having on his employees. Today, 23 percent of Lathem's 105 employees participate in the program either by self-arranged carpools, or by climbing into one of the two white vans Lathem provides.
On Friday's, Lathem encourages his employees to work from home via a teleworking system that redirects calls from the office to their homes. He calls the operation "seamless" and believes his employees are more productive when working from home one day a week. (more)
With summer gas prices steadily climbing toward $3 per gallon, according to the Energy Information Administration, many entrepreneurs who were hit hard by previous pump price spikes have permanently incorporated energy-saving strategies into their company culture.
For the last 35 years, Rita Henry an employee of Atlanta-based Lathem Time, had driven 70 miles to work every morning. That is, until gas prices rose so sharply she couldn't afford to do so.
Her employer, Bill Lathem, the president and CEO of Lathem Time, a manufacturer of time clocks, door locks and electronic recorders, started a vanpooling program in 2004 as a result of the strain rising gas prices was having on his employees. Today, 23 percent of Lathem's 105 employees participate in the program either by self-arranged carpools, or by climbing into one of the two white vans Lathem provides.
On Friday's, Lathem encourages his employees to work from home via a teleworking system that redirects calls from the office to their homes. He calls the operation "seamless" and believes his employees are more productive when working from home one day a week. (more)
Small Biz Bee: Series Recap: Small Business Questions Answered
We’ve covered a road this week in answering Josef’s original question about starting your own business.
In a nutshell Josef wanted to know:
How to decide it’s worth quitting a safe, well paid day job?
Should the idea be revolutionary? Or at least novel? Or it may be rather ordinary, just betting on good execution?
Should I start only once I have a detailed business plan with detailed market research, or is that just a perfection paralysis and I should rely more on gut feelings?
What are the signs it could go well or all wrong?
Starting a new business can be exciting, nerve racking, stressful, and overwhelming all at the same time. It’s no wonder the idea of starting your own business is met with endless questions, second guessing, and some uncertainty about your ability to be successful. (more)
In a nutshell Josef wanted to know:
How to decide it’s worth quitting a safe, well paid day job?
Should the idea be revolutionary? Or at least novel? Or it may be rather ordinary, just betting on good execution?
Should I start only once I have a detailed business plan with detailed market research, or is that just a perfection paralysis and I should rely more on gut feelings?
What are the signs it could go well or all wrong?
Starting a new business can be exciting, nerve racking, stressful, and overwhelming all at the same time. It’s no wonder the idea of starting your own business is met with endless questions, second guessing, and some uncertainty about your ability to be successful. (more)
Harvard Business: Can We Please Stop Saying the Market is Efficient?
By Freek Vermeulen
The economist Jovanovic wrote, about a quarter of a century ago, "efficient firms grow and survive; inefficient firms decline and fail". What he meant is that the market is Darwinian; it will rule out the least efficient firms, with habits and practices that make them perform comparatively badly, and it will make sure efficient firms prosper, so that only good business practices prevail.
Yeah right.
When you look around you, in the world of business, one sometimes can't help wonder where Darwin went wrong... How come we see so many firms that drive us up the wall, how come we see silly business practices persist (excessive risk taking, dubious governance mechanisms, corporate sexism, grey suits and ties to name an eclectic few), and how come so many - sometimes well-educated and intelligent - people continue to have an almost unshakable belief that the market really is efficient, and that it will make the best firms prevail if you just give it time? (more)
The economist Jovanovic wrote, about a quarter of a century ago, "efficient firms grow and survive; inefficient firms decline and fail". What he meant is that the market is Darwinian; it will rule out the least efficient firms, with habits and practices that make them perform comparatively badly, and it will make sure efficient firms prosper, so that only good business practices prevail.
Yeah right.
When you look around you, in the world of business, one sometimes can't help wonder where Darwin went wrong... How come we see so many firms that drive us up the wall, how come we see silly business practices persist (excessive risk taking, dubious governance mechanisms, corporate sexism, grey suits and ties to name an eclectic few), and how come so many - sometimes well-educated and intelligent - people continue to have an almost unshakable belief that the market really is efficient, and that it will make the best firms prevail if you just give it time? (more)
Small Business Trends: More Than Half of SMB Owners Quit Paid Ads Within 6 Months
By Lisa Barone
Well, this is sad. A new study from Borrell Associates found that nearly 60 percent of small business owners quit their local paid search campaigns within 6 months of starting, saying they are unhappy with the results and can no longer justify the costs.
Ouch. What’s going on?
I think there are a couple of reasons for the sour stats.
First, SMB owners are unsure of how to run a paid search campaign so they purchase their ads from overaggressive resellers. These resellers sell them on “guaranteed click” programs, making big promises about what they can offer, and then fail. The SMB owners, no longer able to justify the investment and high click costs, are forced to back away and abandon their paid advertising campaigns almost immediately after they start.
Covering the story, the Wall Street Journal explains: (more)
Well, this is sad. A new study from Borrell Associates found that nearly 60 percent of small business owners quit their local paid search campaigns within 6 months of starting, saying they are unhappy with the results and can no longer justify the costs.
Ouch. What’s going on?
I think there are a couple of reasons for the sour stats.
First, SMB owners are unsure of how to run a paid search campaign so they purchase their ads from overaggressive resellers. These resellers sell them on “guaranteed click” programs, making big promises about what they can offer, and then fail. The SMB owners, no longer able to justify the investment and high click costs, are forced to back away and abandon their paid advertising campaigns almost immediately after they start.
Covering the story, the Wall Street Journal explains: (more)
Thursday, June 11, 2009
The National: Smart play is to back technology start-ups
By Tom Gara
Few things excite and inspire a technology reporter as much as talking to entrepreneurs.Big companies may have the reach and the resources to take on the biggest of challenges, but it is start-ups that change the world, and we all know it.But in the Middle East, full of energy and possibility and wealth, there are few things more disheartening than the lack of investment into this most exciting breed of businesses.
Speak to enough technology entrepreneurs in the region and it quickly becomes clear that almost no one in the Middle Eastern financial world is taking investment in start-up technology very seriously. Most entrepreneurs in the Middle East get their early funding from family and friends. If they are lucky, they find a wealthy businessman willing to put a roof over their heads.Surely this situation must change. In agreement with this sentiment are, among others, a Jordanian princess, an American president and some of the brightest young minds in the Arab world.
All are saying the same thing: that investments in property, stock markets and heavy industry, while strategic and profitable, need to be supplemented by another economic pillar of growth. (more)
Few things excite and inspire a technology reporter as much as talking to entrepreneurs.Big companies may have the reach and the resources to take on the biggest of challenges, but it is start-ups that change the world, and we all know it.But in the Middle East, full of energy and possibility and wealth, there are few things more disheartening than the lack of investment into this most exciting breed of businesses.
Speak to enough technology entrepreneurs in the region and it quickly becomes clear that almost no one in the Middle Eastern financial world is taking investment in start-up technology very seriously. Most entrepreneurs in the Middle East get their early funding from family and friends. If they are lucky, they find a wealthy businessman willing to put a roof over their heads.Surely this situation must change. In agreement with this sentiment are, among others, a Jordanian princess, an American president and some of the brightest young minds in the Arab world.
All are saying the same thing: that investments in property, stock markets and heavy industry, while strategic and profitable, need to be supplemented by another economic pillar of growth. (more)
Arabian Business: Google launches new Arabic translation tool
By Andy Sambidge
Google on Thursday announced the launch of the Google Translator Toolkit, an editor that helps translators create Arabic versions of English web pages.
The Toolkit works by providing the user with a automatically translated version of any page - the translator can then correct and improve the translation, check corrections with Google's online dictionary, and publish new web pages to quickly produce Arabic-language versions of web content.
The company said the quality of the translations suggested by the Toolkit would improve over time, as it learns from translators' improvements.
Google on Thursday announced the launch of the Google Translator Toolkit, an editor that helps translators create Arabic versions of English web pages.
The Toolkit works by providing the user with a automatically translated version of any page - the translator can then correct and improve the translation, check corrections with Google's online dictionary, and publish new web pages to quickly produce Arabic-language versions of web content.
The company said the quality of the translations suggested by the Toolkit would improve over time, as it learns from translators' improvements.
Al Bawaba: Strategic Government Investments in IT Boost Jordanian Market
SAP AG (NYSE: SAP) executives in Amman have said that Jordan’s IT market will continue to develop due to strategic investment by the government alongside public and private companies.
The Government of Jordan’s national e-Government initiative is designed to drive the nation’s transformation into a knowledge-based society founded on a competitive and dynamic economy. As part of efforts to transform its society, economy, and government, Jordan is pursuing a national e-Government strategy that aims to invest heavily in IT as part of its goal to diversify the country’s economic and social development.The role of SAP in this developing market is to support the country’s IT sector to strengthen this growth, in light of world-wide economic challenges, say senior SAP executives meeting with customers today in Amman.
“Jordanian companies can utilize IT investments to improve efficiencies and operations, to be able to respond rapidly to changes in the global business landscape and ensure future success,” said Sergio Maccotta, Managing Director, SAP Middle East & North Africa (MENA).
“SAP continues to offer solutions designed to help address the challenges that are continuing to emerge on an international scale," continued Maccotta. (more)
The Government of Jordan’s national e-Government initiative is designed to drive the nation’s transformation into a knowledge-based society founded on a competitive and dynamic economy. As part of efforts to transform its society, economy, and government, Jordan is pursuing a national e-Government strategy that aims to invest heavily in IT as part of its goal to diversify the country’s economic and social development.The role of SAP in this developing market is to support the country’s IT sector to strengthen this growth, in light of world-wide economic challenges, say senior SAP executives meeting with customers today in Amman.
“Jordanian companies can utilize IT investments to improve efficiencies and operations, to be able to respond rapidly to changes in the global business landscape and ensure future success,” said Sergio Maccotta, Managing Director, SAP Middle East & North Africa (MENA).
“SAP continues to offer solutions designed to help address the challenges that are continuing to emerge on an international scale," continued Maccotta. (more)
NYT: How to Win a Business Plan Competition
By Lora Kolodny
These days, business plan competitions yield prizes worth more than ever.
The Wharton Business Plan Competition, for example, awards $20,000 in cash and $10,000 in legal services to its top entrant. Harvard Business School’s traditional track competition awards $25,000 in cash and $25,000 in business services to its winner. M.I.T.’s Clean Energy Prize includes $200,000 in cash. And Rice University offers a whopping $225,000 prize to its first-place winner, including $125,000 in equity investment, $20,000 in cash and more than $80,000 in services.
Still, it’s really not about the money, says Cliff Holekamp, a senior lecturer in entrepreneurship at Washington University’s Olin Business School, which hosts multiple competitions, including the recently introduced Social Entrepreneurship and Innovation Competition, a do-good variation with a $150,000 prize pool. “The value of participation,” says Mr. Holekamp, “is not found in funding but in a process that brings you mentorship, support, structure and access to the resources and people that will help perfect your business model.” (more)
These days, business plan competitions yield prizes worth more than ever.
The Wharton Business Plan Competition, for example, awards $20,000 in cash and $10,000 in legal services to its top entrant. Harvard Business School’s traditional track competition awards $25,000 in cash and $25,000 in business services to its winner. M.I.T.’s Clean Energy Prize includes $200,000 in cash. And Rice University offers a whopping $225,000 prize to its first-place winner, including $125,000 in equity investment, $20,000 in cash and more than $80,000 in services.
Still, it’s really not about the money, says Cliff Holekamp, a senior lecturer in entrepreneurship at Washington University’s Olin Business School, which hosts multiple competitions, including the recently introduced Social Entrepreneurship and Innovation Competition, a do-good variation with a $150,000 prize pool. “The value of participation,” says Mr. Holekamp, “is not found in funding but in a process that brings you mentorship, support, structure and access to the resources and people that will help perfect your business model.” (more)
The Independent: Branson's flights of fancy: The highs and lows of Virgin Atlantic
By Simon Calder
"Amanda!" Last Sunday afternoon, the UK's most recognisable female celebrity was arguably the Britain's Got Talent judge, Amanda Holden. The previous evening, her programme had attracted nearly 19m viewers.
How do you follow that? By flying to New York. Any one of five airlines could have taken her across; Heathrow to JFK is the busiest intercontinental air route in the world. But Ms Holden chose the airline designed to appeal to travellers who believe flying should still have elements of glamour.
Yet 25 years ago Virgin Atlantic had still to take to the skies; its maiden flight took off from Gatwick to Newark, New Jersey, on 22 June 1984. The talented music mogul, Richard Branson, leased a second-hand Boeing 747, started selling tickets through Virgin record stores, and began to transform travel as he had music retailing.
A quarter-century on, Ms Holden arrived at the airline's Upper Class Wing at Heathrow. This facility, tucked out of sight from ordinary travellers, is the closest approximation to a private-jet terminal for anyone flying on a scheduled airline. As she stepped from her limousine, she bumped into Virgin Atlantic's founder and president, Sir Richard Branson. He greeted her, they hugged, and she disappeared to the closest approximation to bliss at Heathrow: the Virgin Clubhouse.
Then the music entrepreneur-turned-airline tycoon sat down to talk about the airline that Richard built. Has Virgin got talent? And what did Branson ever do for us? (more)
"Amanda!" Last Sunday afternoon, the UK's most recognisable female celebrity was arguably the Britain's Got Talent judge, Amanda Holden. The previous evening, her programme had attracted nearly 19m viewers.
How do you follow that? By flying to New York. Any one of five airlines could have taken her across; Heathrow to JFK is the busiest intercontinental air route in the world. But Ms Holden chose the airline designed to appeal to travellers who believe flying should still have elements of glamour.
Yet 25 years ago Virgin Atlantic had still to take to the skies; its maiden flight took off from Gatwick to Newark, New Jersey, on 22 June 1984. The talented music mogul, Richard Branson, leased a second-hand Boeing 747, started selling tickets through Virgin record stores, and began to transform travel as he had music retailing.
A quarter-century on, Ms Holden arrived at the airline's Upper Class Wing at Heathrow. This facility, tucked out of sight from ordinary travellers, is the closest approximation to a private-jet terminal for anyone flying on a scheduled airline. As she stepped from her limousine, she bumped into Virgin Atlantic's founder and president, Sir Richard Branson. He greeted her, they hugged, and she disappeared to the closest approximation to bliss at Heathrow: the Virgin Clubhouse.
Then the music entrepreneur-turned-airline tycoon sat down to talk about the airline that Richard built. Has Virgin got talent? And what did Branson ever do for us? (more)
Wednesday, June 10, 2009
The Entrepreneurial Mind: Entrepreneurial Welfare?
By Jeff Cornwall
Want to see the logical conclusion that one reaches when one buys into the notion that the government is the answer to every problem we face? Go to this blog post at Yu-Kai Chou to see the "logical" conclusion one reaches when one assumes that the government knows best when it comes to fixing our economy. Here is an excerpt:
The government can give entrepreneurs a VERY low amount of survival money, like $20,000 a year, as a salary to do entrepreneurial work. This is useful because there are lots and lots of people who would be entrepreneurs but they couldn't pursue their dreams due to realistic survival issues. This plan allows them to pursue the innovation work they want without the fear of dying on the streets.
That's right...it is a call for an entrepreneurial welfare program. I kid you not. Read the entire post and the comments, but make sure you do it before you have had too much caffeine. Your blood pressure may go off the charts. (more)
Want to see the logical conclusion that one reaches when one buys into the notion that the government is the answer to every problem we face? Go to this blog post at Yu-Kai Chou to see the "logical" conclusion one reaches when one assumes that the government knows best when it comes to fixing our economy. Here is an excerpt:
The government can give entrepreneurs a VERY low amount of survival money, like $20,000 a year, as a salary to do entrepreneurial work. This is useful because there are lots and lots of people who would be entrepreneurs but they couldn't pursue their dreams due to realistic survival issues. This plan allows them to pursue the innovation work they want without the fear of dying on the streets.
That's right...it is a call for an entrepreneurial welfare program. I kid you not. Read the entire post and the comments, but make sure you do it before you have had too much caffeine. Your blood pressure may go off the charts. (more)
Young Entrepreneur: Interview with Tony Hsieh
We are really excited to have caught up with Tony Hsieh from Zappos.com
Tony Hsieh is the CEO of Zappos.com under his leadership, Zappos has grown gross merchandize sales from $1.6M in 2000 to over $1 billion in 2008 by focusing relentlessly on customer service.
1. You have had a stellar career so far, what was the motivation that drove you to achieve so much so early?
I guess I’ve never really thought of it as a “career”. I love the creativity that comes with being an entrepreneur and the challenge of building and doing things that haven’t been done before.
2. Harvard must have been a really cool experience, is going to university something you would recommend?
I don’t think it really matters what college you go to… what’s important is being exposed to a diverse group of people and perspectives, which you can get from almost any college. (more)
Tony Hsieh is the CEO of Zappos.com under his leadership, Zappos has grown gross merchandize sales from $1.6M in 2000 to over $1 billion in 2008 by focusing relentlessly on customer service.
1. You have had a stellar career so far, what was the motivation that drove you to achieve so much so early?
I guess I’ve never really thought of it as a “career”. I love the creativity that comes with being an entrepreneur and the challenge of building and doing things that haven’t been done before.
2. Harvard must have been a really cool experience, is going to university something you would recommend?
I don’t think it really matters what college you go to… what’s important is being exposed to a diverse group of people and perspectives, which you can get from almost any college. (more)
Small Business Trends: Another Reason Recessions are a Good Time to Start a Business
By Anita Campbell
Throughout the 2008-2009 recession we have seen a rash of articles about why it’s a good time to start a business. Sometimes I feel those articles are more a matter of the writer trying to convince himself or herself that it’s a good time to start a business, than convince anyone else! After all, some people lose their jobs and then become unwilling entrepreneurs.
Still, it’s true that a recession can be a rare opportunity to start a business. One reason: competitors (especially large corporations) are distracted by their own market challenges.
That can be good for you if you are thinking of starting — or expanding — your business. It means others in the marketplace are not minding the store. It could provide just enough of an opening in the market to get a toehold to scale new heights.
Over at BigThink I have a guest post up about why a recession is a good time to start a business. (more)
Throughout the 2008-2009 recession we have seen a rash of articles about why it’s a good time to start a business. Sometimes I feel those articles are more a matter of the writer trying to convince himself or herself that it’s a good time to start a business, than convince anyone else! After all, some people lose their jobs and then become unwilling entrepreneurs.
Still, it’s true that a recession can be a rare opportunity to start a business. One reason: competitors (especially large corporations) are distracted by their own market challenges.
That can be good for you if you are thinking of starting — or expanding — your business. It means others in the marketplace are not minding the store. It could provide just enough of an opening in the market to get a toehold to scale new heights.
Over at BigThink I have a guest post up about why a recession is a good time to start a business. (more)
Venture Beat: Shocker: Study shows VCs plan to invest in fewer companies
By Anthony Ha
A new survey of more than 700 venture capitalists confirms that VCs’ plans for dealing with the economy are pretty much what you’d expect. (And by you, I mean me.) Most of them say they will invest in fewer companies, but many also plan to increase their funding for cleantech companies.
That’s from the 2009 Global Venture Capital Survey by Deloitte Touche Tohmatsu and the National Venture Capital Association. Like I said, the results are less-than-revelatory, but still worth noting for what they tell us about the mindset of hundreds in the venture capital industry. To start with, 51 percent of respondents said they planned to decrease the amount of companies they invest in, while only 13 percent said they plan to invest in more. It’s worse if you’re a young company looking for funding, with 36 percent of VCs saying they intend to move towards later-stage investments, and 6 percent saying they want to go in the other direction. (more)
A new survey of more than 700 venture capitalists confirms that VCs’ plans for dealing with the economy are pretty much what you’d expect. (And by you, I mean me.) Most of them say they will invest in fewer companies, but many also plan to increase their funding for cleantech companies.
That’s from the 2009 Global Venture Capital Survey by Deloitte Touche Tohmatsu and the National Venture Capital Association. Like I said, the results are less-than-revelatory, but still worth noting for what they tell us about the mindset of hundreds in the venture capital industry. To start with, 51 percent of respondents said they planned to decrease the amount of companies they invest in, while only 13 percent said they plan to invest in more. It’s worse if you’re a young company looking for funding, with 36 percent of VCs saying they intend to move towards later-stage investments, and 6 percent saying they want to go in the other direction. (more)
Small Biz Bee: 10 Early Signs Your Business is Heading for Danger, and How to Avoid It
Today is the fourth part of our four part series in response to a reader’s question. If you missed part 1, 2, or 3, you can catch up here, here, and here.
We’ve talked a lot this week about taking that first step and starting your own business, and some things you can do as you prepare to launch your new business venture.
Part of the question that sparked this series was “Are there early warning signs that things could go wrong”. Here are ten that I can speak to from first hand experience, you probably have others – drop’em in the comments section so we can all learn something.
10 Early Signs Your Business Venture is Heading for Danger
Sign #1 You don’t know you unique selling proposition (USP)
If you’re starting up, or have already opened your doors for business, and you still don’t know what your USP is you’re in trouble. I can’t stress enough how important it is to know what makes you different, and why people should buy from you instead of a competitor, going into the venture.
Fix:
Spend time up front addressing what your USP is, before you launch. Analyze your market, analyze your competitors, and figure out where you can fill holes or gaps in what they do.
Don’t open your doors for business until you can tell me in a sentence why I should buy from you and not your competitor. Your USP can change over time, but those changes should be strengthening it, not defining it. (more)
We’ve talked a lot this week about taking that first step and starting your own business, and some things you can do as you prepare to launch your new business venture.
Part of the question that sparked this series was “Are there early warning signs that things could go wrong”. Here are ten that I can speak to from first hand experience, you probably have others – drop’em in the comments section so we can all learn something.
10 Early Signs Your Business Venture is Heading for Danger
Sign #1 You don’t know you unique selling proposition (USP)
If you’re starting up, or have already opened your doors for business, and you still don’t know what your USP is you’re in trouble. I can’t stress enough how important it is to know what makes you different, and why people should buy from you instead of a competitor, going into the venture.
Fix:
Spend time up front addressing what your USP is, before you launch. Analyze your market, analyze your competitors, and figure out where you can fill holes or gaps in what they do.
Don’t open your doors for business until you can tell me in a sentence why I should buy from you and not your competitor. Your USP can change over time, but those changes should be strengthening it, not defining it. (more)
Harvard Business: Extreme Makeover: The Email Inbox Edition
By Gina Trapani
Like all powerful tools, email is a blessing AND a curse. On one hand you can instantly send a message around the world with the click of a button. On the other, an active email address subjects you to a shower of spam, automated notifications, irrelevant CC's, rambling memos, and urgent requests all stuffed into your inbox and demanding your attention every day.
If you're spending more time dealing with email than getting actual work done, it's time for a makeover.
First, clear out your inbox. Computer scientists developed email based on the paradigm of postal mail, so think of your inbox like your physical mailbox. You wouldn't keep bills you have to pay and the invitation to that birthday party in the mailbox out on your front lawn, right? Clear the to-do's, events, and stuff you might refer to later out of your inbox each day. I use a three-folder system to do this. The folders are called: (more)
Like all powerful tools, email is a blessing AND a curse. On one hand you can instantly send a message around the world with the click of a button. On the other, an active email address subjects you to a shower of spam, automated notifications, irrelevant CC's, rambling memos, and urgent requests all stuffed into your inbox and demanding your attention every day.
If you're spending more time dealing with email than getting actual work done, it's time for a makeover.
First, clear out your inbox. Computer scientists developed email based on the paradigm of postal mail, so think of your inbox like your physical mailbox. You wouldn't keep bills you have to pay and the invitation to that birthday party in the mailbox out on your front lawn, right? Clear the to-do's, events, and stuff you might refer to later out of your inbox each day. I use a three-folder system to do this. The folders are called: (more)
Blog Maverick: Success & Motivation – 2009
By Mark Cuban
This is the year of WTF. Yep, What the F&&&.
It doesn’t matter what got you to the point of saying it. Maybe you got fired/layed off. Maybe your company went out of business. Maybe you quit because you couldn’t take it any longer. Maybe you are just graduating from school and the prospects of living at home are far worse than cramming in with 12 roommates in a beater house or apartment you call “The Hotel”. Whatever the reason, the question is how do you turn this time into the start of something good ?
I’m here to give you your WTF To Do List.
1. Recognize that its ok to live like a student.
It doesn’t matter where you live. It doesn’t matter how you live. It doesn’t matter what kind of car you drive. It doesn’t matter what kind of clothes you wear. It doesn’t matter. Your biggest enemies are your bills. The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. More importantly, if you set your monthly income requirements too high, you eliminate a significant number of opportunities. The cheaper you can live, the greater your options. Remember that. (more)
This is the year of WTF. Yep, What the F&&&.
It doesn’t matter what got you to the point of saying it. Maybe you got fired/layed off. Maybe your company went out of business. Maybe you quit because you couldn’t take it any longer. Maybe you are just graduating from school and the prospects of living at home are far worse than cramming in with 12 roommates in a beater house or apartment you call “The Hotel”. Whatever the reason, the question is how do you turn this time into the start of something good ?
I’m here to give you your WTF To Do List.
1. Recognize that its ok to live like a student.
It doesn’t matter where you live. It doesn’t matter how you live. It doesn’t matter what kind of car you drive. It doesn’t matter what kind of clothes you wear. It doesn’t matter. Your biggest enemies are your bills. The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. More importantly, if you set your monthly income requirements too high, you eliminate a significant number of opportunities. The cheaper you can live, the greater your options. Remember that. (more)
Harvard Business: Did Professional Management Cause the Fall of GM?
By John T. Landry
The recession has intensified calls for making management a profession. On top of the threat of global warming, we've seen how narrow-minded, self-serving behavior by executives can grievously damage the financial system. To inject more social responsibility, students and professors at several prominent schools are promoting a version of the Hippocratic Oath for graduating MBAs.
Yet professional management involves more than social responsibility. Doctors, for example, are trained to collect facts, analyze them objectively, and make impersonal decisions based on deep expertise. That sort of rational work has many clear benefits, but also dangers for large organizations. General Motors is a prime example.
To see why, let's go back to 1964, when HBR published "The Great GM Mystery," by Harold Wolff. GM was at the peak of its success. Longtime leader Alfred Sloan may have retired, but the company was still posting growing profits and market share. And Sloan had just published My Years with General Motors, which executives by the thousands read not as a memoir to be enjoyed but as a guide to success. (more)
The recession has intensified calls for making management a profession. On top of the threat of global warming, we've seen how narrow-minded, self-serving behavior by executives can grievously damage the financial system. To inject more social responsibility, students and professors at several prominent schools are promoting a version of the Hippocratic Oath for graduating MBAs.
Yet professional management involves more than social responsibility. Doctors, for example, are trained to collect facts, analyze them objectively, and make impersonal decisions based on deep expertise. That sort of rational work has many clear benefits, but also dangers for large organizations. General Motors is a prime example.
To see why, let's go back to 1964, when HBR published "The Great GM Mystery," by Harold Wolff. GM was at the peak of its success. Longtime leader Alfred Sloan may have retired, but the company was still posting growing profits and market share. And Sloan had just published My Years with General Motors, which executives by the thousands read not as a memoir to be enjoyed but as a guide to success. (more)
Venture Beat: Facebook, MySpace still better than Twitter for connecting people to your site?
By Eric Eldon
Major television events are continuing to see good results when they integrate social media, especially using services that let people take their social networking identities with them around the web. The latest example is media conglomerate Turner Networks, which recently told AdAge about its experiment in letting users log in and chat to each other using Facebook, MySpace and Twitter while watching the NBA Eastern Conference Finals and last weekend’s NASCAR race, the Pocono 500, on Turner’s home site.
Turner’s results showed Facebook came out on top in both instances, but MySpace users messaged each other more. Twitter trailed the others in both traffic and information-sharing. As these sites grow — or don’t grow — their integration services are becoming powerful new ways for TV companies to reach new users. The broadcaster used widget-maker Gigya’s Socialize authentication service to let people log in through the site of their choice while watching the two events. (more)
Major television events are continuing to see good results when they integrate social media, especially using services that let people take their social networking identities with them around the web. The latest example is media conglomerate Turner Networks, which recently told AdAge about its experiment in letting users log in and chat to each other using Facebook, MySpace and Twitter while watching the NBA Eastern Conference Finals and last weekend’s NASCAR race, the Pocono 500, on Turner’s home site.
Turner’s results showed Facebook came out on top in both instances, but MySpace users messaged each other more. Twitter trailed the others in both traffic and information-sharing. As these sites grow — or don’t grow — their integration services are becoming powerful new ways for TV companies to reach new users. The broadcaster used widget-maker Gigya’s Socialize authentication service to let people log in through the site of their choice while watching the two events. (more)
Entrepreneur: Entrepreneurs Show Their Mettle
By: Jennifer Wang
"What do you need MOST right now to stimulate your business?" This was last week's featured question on Entrepreneur Connect, and we got a lot of good responses. Confidence and certainty, some said. Sales and easier access to financing, said others. Clearly, things aren't right yet, but no one sounded defeated.
This might be because entrepreneurs who have made it through the low point earlier this year have come out stronger. They're "battle-tested," to use a great adjective I recently heard used to describe small business owners.
During a Business Matchmaking event in Orange County, Calif., I had a chance to speak with Hector Barreto, former head of the U.S. Small Business Administration; Ken Yancey, CEO of The SCORE Association; and Brian Burch, HP's director of SMB marketing. The overarching sentiment? Main Street will come out of the recession stronger than ever. (more)
"What do you need MOST right now to stimulate your business?" This was last week's featured question on Entrepreneur Connect, and we got a lot of good responses. Confidence and certainty, some said. Sales and easier access to financing, said others. Clearly, things aren't right yet, but no one sounded defeated.
This might be because entrepreneurs who have made it through the low point earlier this year have come out stronger. They're "battle-tested," to use a great adjective I recently heard used to describe small business owners.
During a Business Matchmaking event in Orange County, Calif., I had a chance to speak with Hector Barreto, former head of the U.S. Small Business Administration; Ken Yancey, CEO of The SCORE Association; and Brian Burch, HP's director of SMB marketing. The overarching sentiment? Main Street will come out of the recession stronger than ever. (more)
Inc. How to Put Your Website on Cell-Phone Screens
By Mark Spoonauer
These days, it's not enough to build a good website; to reach customers online, you have to reach them on their mobile phones. Here are two free tools for adapting your site for the small screen.
Ubik
This online service, which is in beta, lets you build a mobile site in just a few steps. Select one of 32 templates (which include ones for specific businesses, such as restaurants and car dealerships). Then edit the content through any Web browser and click Publish. If you don't want to use the standard-issue Web address (sitename.ubik.net), you can create a custom domain name or use an existing one. Ubik will even place ads for you, if you are willing to split the revenue 50-50.
Dotmobi
DotMobi answers the call for simplicity with its Instant Mobilizer service, which automatically reformats your site for mobile phones. You will need a special .mobi domain name (get one from Go Daddy for $8 a year), but dotMobi takes care of the rest for free. At the top of each page, your mobile site will list both your phone number (for one-click dialing) and address (with a link to Google's directions page). DotMobi's website is at mtld.mobi.
These days, it's not enough to build a good website; to reach customers online, you have to reach them on their mobile phones. Here are two free tools for adapting your site for the small screen.
Ubik
This online service, which is in beta, lets you build a mobile site in just a few steps. Select one of 32 templates (which include ones for specific businesses, such as restaurants and car dealerships). Then edit the content through any Web browser and click Publish. If you don't want to use the standard-issue Web address (sitename.ubik.net), you can create a custom domain name or use an existing one. Ubik will even place ads for you, if you are willing to split the revenue 50-50.
Dotmobi
DotMobi answers the call for simplicity with its Instant Mobilizer service, which automatically reformats your site for mobile phones. You will need a special .mobi domain name (get one from Go Daddy for $8 a year), but dotMobi takes care of the rest for free. At the top of each page, your mobile site will list both your phone number (for one-click dialing) and address (with a link to Google's directions page). DotMobi's website is at mtld.mobi.
NYT: What Do Customers Really Want? Here’s How to Find Out
By Paul Brown
It has always been important to be close to your customers, but never more so than now.
In a recession, you simply cannot afford to let any profitable customers slip away. And in this environment especially, it is easier to sell additional products to existing clients than to look for new ones.
How do you find out what is on your customers’ minds? These tips should help. (more)
It has always been important to be close to your customers, but never more so than now.
In a recession, you simply cannot afford to let any profitable customers slip away. And in this environment especially, it is easier to sell additional products to existing clients than to look for new ones.
How do you find out what is on your customers’ minds? These tips should help. (more)
Marketing Duct Tape: 7 Signs Your Marketing May Need to Evolve
A lot of marketers get both confused and fed up with all the talk about things like new media, social media, inbound marketing, user generated content, and the age of conversation. I mean, how is a person suppose to apply all these somewhat vague and hard to pin down terms and trends. Well, there’s no denying that the world and certainly the world of marketing has changed. If you’re trying to wrap your head around what that might mean for you, here are seven very concrete ways to start viewing the evolution of your marketing strategies and practices.
1) Your marketing strategy is a sales strategy - far too many small business folks view marketing as selling. I’ve got nothing against sales, you must have them, but what you must have, before a sales presentation is ever made, is a crystal clear, very easy to understand difference. You must claim and communicate at every turn the way that your products, services, and processes are uniquely here to make some narrowly defined target market’s life better. Oh, and it can’t be boring, there must be something remarkable enough about your business or strategy that people go out of their way to tell others about it. Do that and selling not only gets easier, it gets somewhat superfluous. (more)
1) Your marketing strategy is a sales strategy - far too many small business folks view marketing as selling. I’ve got nothing against sales, you must have them, but what you must have, before a sales presentation is ever made, is a crystal clear, very easy to understand difference. You must claim and communicate at every turn the way that your products, services, and processes are uniquely here to make some narrowly defined target market’s life better. Oh, and it can’t be boring, there must be something remarkable enough about your business or strategy that people go out of their way to tell others about it. Do that and selling not only gets easier, it gets somewhat superfluous. (more)
Young Entrepreneur: I Knew That What I Was Building Would Be Very, Very Valuable – Kevin Ham
By Adam Toren
He is known as the man who owns the Internet because of the sheer volume of web domains under his ownership. But I think you will find that Kevin Ham’s path to entrepreneurship is an interesting one and his ambitious spirit serves as inspiration to all of us.
Very few recognize the name Kevin Ham, yet he is one of the most influential people in the dotcom world with an empire worth $300 million. Much of his fortune was made by buying domain names and from pay per click ads. But that wasn’t his initial career path. Ham is a family doctor, but he put off practicing medicine when he was bit by the Web bug. Since entering the dotcom business in 2000, he has amassed over 300,000 domain names and makes about $70 million in revenue each year. “If you control all the domains, then you control the Internet.”
That the 39-year old Ham remains under the radar in terms of notoriety is fine with him. He says his is a business that attracts many enemies, particularly other domain owners. The son of Korean immigrants, Ham, who grew up in Vancouver, British Columbia, works aggressively to accomplish his goals despite the obstacles put before him by naysayers. (more)
He is known as the man who owns the Internet because of the sheer volume of web domains under his ownership. But I think you will find that Kevin Ham’s path to entrepreneurship is an interesting one and his ambitious spirit serves as inspiration to all of us.
Very few recognize the name Kevin Ham, yet he is one of the most influential people in the dotcom world with an empire worth $300 million. Much of his fortune was made by buying domain names and from pay per click ads. But that wasn’t his initial career path. Ham is a family doctor, but he put off practicing medicine when he was bit by the Web bug. Since entering the dotcom business in 2000, he has amassed over 300,000 domain names and makes about $70 million in revenue each year. “If you control all the domains, then you control the Internet.”
That the 39-year old Ham remains under the radar in terms of notoriety is fine with him. He says his is a business that attracts many enemies, particularly other domain owners. The son of Korean immigrants, Ham, who grew up in Vancouver, British Columbia, works aggressively to accomplish his goals despite the obstacles put before him by naysayers. (more)
Arabian Business: Job creation is ME's biggest challenge - ex-World Bank chief
By Andrew White
Unemployment rather than the price of oil is the biggest challenge facing the Middle East region, according to the former head of the World Bank.
James Wolfensohn, told delegates at the second annual Silatech summit in Doha, Qatar that the need to create up to seven million jobs per year in the region was "daunting". (more)
Unemployment rather than the price of oil is the biggest challenge facing the Middle East region, according to the former head of the World Bank.
James Wolfensohn, told delegates at the second annual Silatech summit in Doha, Qatar that the need to create up to seven million jobs per year in the region was "daunting". (more)
Harvard Business: Seize the Silver Lining: A Checklist for Innovation
By Scott Anthony
It's tough out there, but companies that think their choice is to innovate or to survive are missing the point. Innovation is a corporate necessity, not a nicety.
There's little doubt that innovation is going to become harder as resources become tighter and competition becomes fiercer. But, those companies that continue to focus on innovation have a rare chance to create substantial space between themselves and their competitors — those that don't will fall further and further behind.
The Silver Lining: An Innovation Playbook for Uncertain Times makes the case that today's turbulent times make mastering innovation a competitive necessity. The book aims to provide corporate innovators and entrepreneurs with practical guidance to seize the ample opportunities that still exist in today's markets.
The following 10-point checklist synthesizes The Silver Lining's key messages and provides practical guidance for leaders looking to realize opportunities in their markets. Each item links to a blog post describing the item in more depth.
Does your organization:
1. Recognize today's transformation imperative?
2. Have a handle on the future potential of innovation? (more)
It's tough out there, but companies that think their choice is to innovate or to survive are missing the point. Innovation is a corporate necessity, not a nicety.
There's little doubt that innovation is going to become harder as resources become tighter and competition becomes fiercer. But, those companies that continue to focus on innovation have a rare chance to create substantial space between themselves and their competitors — those that don't will fall further and further behind.
The Silver Lining: An Innovation Playbook for Uncertain Times makes the case that today's turbulent times make mastering innovation a competitive necessity. The book aims to provide corporate innovators and entrepreneurs with practical guidance to seize the ample opportunities that still exist in today's markets.
The following 10-point checklist synthesizes The Silver Lining's key messages and provides practical guidance for leaders looking to realize opportunities in their markets. Each item links to a blog post describing the item in more depth.
Does your organization:
1. Recognize today's transformation imperative?
2. Have a handle on the future potential of innovation? (more)
Monday, June 8, 2009
Zawya: Greater Amman Municipality Launches New Projects on the Independence Day and King's Accession to the Throne
Amman, Jordan: In commemoration of the Kingdom's Independence Day and the 10th anniversary of His Majesty King Abdullah II Accession to the Throne, the Greater Amman MunicipalityGreater Amman Municipality recently organized a large national festival at King Abdullah II Gardens Project in Al-Muqabileen.
The Municipality will also inaugurate several developmental and services projects in different regions of Amman, along with 12 IT centers, and public libraries.
Head of GAMGAM's Celebrations Committee and Mayor of Amman's Advisor for Regions Affairs, Mahmoud Al-Armouti said that the Municipality, in line with the Mayor's directives, has completed its preparations for the festival and the inaugurations in Amman. He noted that these events aim at enhancing the values of Independence, the notion and accomplishments as perceived by Jordanians. The celebrations also help in recalling the times of giving and goodwill in the past 10-year march, under the leadership of His Majesty King Abdullah II.
The festival was held under the patronage of H.E. Prime Minister Nader Al-Dahabi, and attended by senior officials from the public and private sectors, as well as members of the local community. (more)
The Municipality will also inaugurate several developmental and services projects in different regions of Amman, along with 12 IT centers, and public libraries.
Head of GAMGAM's Celebrations Committee and Mayor of Amman's Advisor for Regions Affairs, Mahmoud Al-Armouti said that the Municipality, in line with the Mayor's directives, has completed its preparations for the festival and the inaugurations in Amman. He noted that these events aim at enhancing the values of Independence, the notion and accomplishments as perceived by Jordanians. The celebrations also help in recalling the times of giving and goodwill in the past 10-year march, under the leadership of His Majesty King Abdullah II.
The festival was held under the patronage of H.E. Prime Minister Nader Al-Dahabi, and attended by senior officials from the public and private sectors, as well as members of the local community. (more)
Young Entrepreneur: Analyzing A Competitor’s Website
By Matthew Toren
Knowing as much as you can about your competition enables you to better position your company to succeed. Since so much of today’s business is done over the Internet, evaluating how your competitors position themselves online will reveal valuable information that will help you enhance traffic to your website.
Do you know the leaders in your industry? It’s good information to have because they are the ones setting the pace in your line of business. By analyzing their product offerings, presentation and inventive approaches, you can establish your business so it is perceived by customers to be better than theirs. A good place to start is a competitor’s website. Here are 3 key strategies for analyzing a competitor’s website so you can enhance your own: (more)
Knowing as much as you can about your competition enables you to better position your company to succeed. Since so much of today’s business is done over the Internet, evaluating how your competitors position themselves online will reveal valuable information that will help you enhance traffic to your website.
Do you know the leaders in your industry? It’s good information to have because they are the ones setting the pace in your line of business. By analyzing their product offerings, presentation and inventive approaches, you can establish your business so it is perceived by customers to be better than theirs. A good place to start is a competitor’s website. Here are 3 key strategies for analyzing a competitor’s website so you can enhance your own: (more)
Sunday, June 7, 2009
Arabian Business: Young Arabs tell of obstacles to finding good jobs
By Andy Sambidge
A shortage of good jobs and the need to know someone senior in a company (wasta) are the main factors young Arabs most frequently mention as obstacles to getting a job in the region, according to a new survey.
The first Silatech-Gallup poll conducted among young Arabs across Middle East and North Africa found that 58 percent of respondents said they would be willing to relocate to find a suitable job.
When asked whether knowing people in high positions is critical to getting a job, the majority of the respondents in all countries answered yes, The Peninsula reported on Sunday. (more)
A shortage of good jobs and the need to know someone senior in a company (wasta) are the main factors young Arabs most frequently mention as obstacles to getting a job in the region, according to a new survey.
The first Silatech-Gallup poll conducted among young Arabs across Middle East and North Africa found that 58 percent of respondents said they would be willing to relocate to find a suitable job.
When asked whether knowing people in high positions is critical to getting a job, the majority of the respondents in all countries answered yes, The Peninsula reported on Sunday. (more)
Arabian Business: Islamic banks: Trouble beneath calm waters?
By Reuters
As Western regulators stress test top banks, Islamic finance wants to tighten its regulatory and disclosure framework amid concerns that unhealthy banks may have slipped under the radar.
Few islamic financial firms have reported headline-grabbing losses so far, but the industry's relatively modest size and opaque framework could mask more trouble than appearances suggest, according to bankers and lawyers. (more)
As Western regulators stress test top banks, Islamic finance wants to tighten its regulatory and disclosure framework amid concerns that unhealthy banks may have slipped under the radar.
Few islamic financial firms have reported headline-grabbing losses so far, but the industry's relatively modest size and opaque framework could mask more trouble than appearances suggest, according to bankers and lawyers. (more)
Inc. The Start-up Guru: Y Combinator's Paul Graham
By: Max Chafkin
Of all the things that Paul Graham hates about running a start-up -- and there's not a whole lot about it that he likes -- the customers bug him the most. Everyone has a problem with your product, and people are constantly calling to complain about things you cannot possibly fix. Then there is the fact that you are doing everything for the first time, which creates a crippling sense of uncertainty, as well as a persistent fear that a single bad decision could doom the whole enterprise. There are squabbles with co-founders and combative negotiations with investors and that gut-wrenching period when you realize that success isn't going to come quickly or easily -- Graham calls it the Trough of Sorrow. Graham's start-up days are more than a full decade behind him, but he can't help recalling them with a shudder. "It's like talking to someone who went to war," Graham says. "It sucks to run a start-up." (more)
Of all the things that Paul Graham hates about running a start-up -- and there's not a whole lot about it that he likes -- the customers bug him the most. Everyone has a problem with your product, and people are constantly calling to complain about things you cannot possibly fix. Then there is the fact that you are doing everything for the first time, which creates a crippling sense of uncertainty, as well as a persistent fear that a single bad decision could doom the whole enterprise. There are squabbles with co-founders and combative negotiations with investors and that gut-wrenching period when you realize that success isn't going to come quickly or easily -- Graham calls it the Trough of Sorrow. Graham's start-up days are more than a full decade behind him, but he can't help recalling them with a shudder. "It's like talking to someone who went to war," Graham says. "It sucks to run a start-up." (more)
Venture Beat: The incredible shrinking venture capital industry
By Anthony Ha
The venture capital industry is still shrinking, and not just in terms of the amount of money it’s investing or raising — there are fewer firms in the business, according to new data compiled by Dow Jones VentureSource and published in the Wall Street Journal.
In 2008, the number of active firms (those that made at least one investment in the United States) fell 5.6 percent to 868. And that number has been declining steadily since 2000, when there were 1,229 active investors. Earlier this year, the National Venture Capital Association released numbers looking at the problem from a different angle, but finding the same result: (more)
The venture capital industry is still shrinking, and not just in terms of the amount of money it’s investing or raising — there are fewer firms in the business, according to new data compiled by Dow Jones VentureSource and published in the Wall Street Journal.
In 2008, the number of active firms (those that made at least one investment in the United States) fell 5.6 percent to 868. And that number has been declining steadily since 2000, when there were 1,229 active investors. Earlier this year, the National Venture Capital Association released numbers looking at the problem from a different angle, but finding the same result: (more)
Business Writing: A.M., P.M., a.m., p.m.: What Is the Correct Time?
By Lynn Gaertner-Johnston
Pam wrote to me to settle a debate between the younger and the older employees in her office.
Her brief question was this:
4pm or 4:00pm?
My answer: (more)
Pam wrote to me to settle a debate between the younger and the older employees in her office.
Her brief question was this:
4pm or 4:00pm?
My answer: (more)
Harvard Business: How to Write a Résumé That Doesn't Annoy People
By David Silverman
A Google search for "résumé" results in over 178,000,000 hits, whereas "possum" nets only 5,340,000. Thus the documentation of work experience is 33 and 1/3 more popular than arboreal marsupials. But what does this really tell us? Not much, but neither does the average résumé that comes across my desk. Some excerpts:
"Administered resolution of issues and implementation of ideas surfaced by individuals."
"Partaking in meetings designed to enhance collaboration, identify and develop strategies to ensure success regarding the accomplishment of goals."
"Experienced leader with superior interpersonal skills and business acumen talented at building productive relationships across a global organization."
Huh?
We all know that there are more jobs being lost than created, and that an opening will get dozens, if not hundreds, of applicants. But in our fear to avoid saying anything that might get our résumé tossed out of the pile, we end up saying nothing at all. As a result, the hiring manager feels like she's reading tea leaves, not CVs. One feels forced to come up with arbitrary rules to narrow the field. Nobody with an objective statement, no résumés longer than 3 pages, no serif fonts. (more)
A Google search for "résumé" results in over 178,000,000 hits, whereas "possum" nets only 5,340,000. Thus the documentation of work experience is 33 and 1/3 more popular than arboreal marsupials. But what does this really tell us? Not much, but neither does the average résumé that comes across my desk. Some excerpts:
"Administered resolution of issues and implementation of ideas surfaced by individuals."
"Partaking in meetings designed to enhance collaboration, identify and develop strategies to ensure success regarding the accomplishment of goals."
"Experienced leader with superior interpersonal skills and business acumen talented at building productive relationships across a global organization."
Huh?
We all know that there are more jobs being lost than created, and that an opening will get dozens, if not hundreds, of applicants. But in our fear to avoid saying anything that might get our résumé tossed out of the pile, we end up saying nothing at all. As a result, the hiring manager feels like she's reading tea leaves, not CVs. One feels forced to come up with arbitrary rules to narrow the field. Nobody with an objective statement, no résumés longer than 3 pages, no serif fonts. (more)
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