The ninth of 10 children, Robert L. Johnson was born in Mississippi in 1946. He received his undergraduate degree from the University of Illinois and a Master's degree in International Affairs from Princeton University. After graduating, Johnson moved to Washington, D.C. where he lobbied on behalf of the budding cable television industry. During his time in the nation's capital, he established business and political connections that would later help him fund his dream.
While working as a lobbyist, Johnson realized that the African American population was largely underserved in the cable industry. He obtained a $15,000 loan as well as a $500 million investment and launched Black Entertainment Television (BET) in January of 1980. At its inception, BET aired mainly music videos and reruns of black sitcoms; but the network blossomed over the next decade adding a variety of news and special interest programs aimed at African Americans to its lineup.
BET became the first African American-controlled company to trade on the New York Stock Exchange in 1991; and by 2001, Johnson was listed on the Forbes list of the world's richest people, making him one of the first African American billionaires to make the list. Although Johnson sold the network to Viacom in 2003, he continues to support African American interests. One of his biggest campaigns is aimed at reducing unemployment in black communities. His proposal calls for companies to consider several African American candidates when hiring for senior level positions. His proposal also calls for companies to consider African American companies when contracting out work which would decrease the number of unemployed African Americans.
Friday, December 9, 2011
Monday, December 5, 2011
It All Started With a List
Chances are you've never heard of Craig Newmark but you've heard of his list. Newmark is the founder of Craigslist, the extremely popular online classified site that helps users find everything from cars and apartments to jobs and local events. After receiving Bachelors and Masters degrees from Case Western Reserve University in the 1970s, Newmark spent 30 years working in the computer field for a variety of companies including Bank of America, Charles Schwab, GM and IBM.
When Newmark relocated to San Francisco in 1995, he started a list of all his friends' e-mail addresses. He sent notifications of area events to the list and before long, many people were asking to be added to the list and to have their events or job openings distributed. As the distribution list grew, new categories were added including job openings and for sale items. In 1996, Craigslist transitioned from an e-mail distribution list to a website and by 2000, pages were added for Chicago, Los Angeles, New York and six other regions. That same year, Newmark realized that the project he considered his hobby had grown by leaps and bounds and decided to hire nine employees to help develop and maintain the site.
Until 2004, all listings on Craigslist were free, regardless of the category. Starting in 2004, the company began charging certain listings such as job postings in some of the larger markets. Despite this fact, Newmark does not focus on the fact that his site could be making more money if he charged all listings or added advertising; however,he is more interested in helping people find what they need. Newmark works at Craigslist not as an executive as many might think but rather as a customer service representative seeking out people using Craigslist to scam others.
When Newmark relocated to San Francisco in 1995, he started a list of all his friends' e-mail addresses. He sent notifications of area events to the list and before long, many people were asking to be added to the list and to have their events or job openings distributed. As the distribution list grew, new categories were added including job openings and for sale items. In 1996, Craigslist transitioned from an e-mail distribution list to a website and by 2000, pages were added for Chicago, Los Angeles, New York and six other regions. That same year, Newmark realized that the project he considered his hobby had grown by leaps and bounds and decided to hire nine employees to help develop and maintain the site.
Until 2004, all listings on Craigslist were free, regardless of the category. Starting in 2004, the company began charging certain listings such as job postings in some of the larger markets. Despite this fact, Newmark does not focus on the fact that his site could be making more money if he charged all listings or added advertising; however,he is more interested in helping people find what they need. Newmark works at Craigslist not as an executive as many might think but rather as a customer service representative seeking out people using Craigslist to scam others.
Thursday, December 1, 2011
Many Applications
Depending on where you’re coming from, the company Garmin may give you different impressions. I first heard about this company because of running. They have a line of watches that not only monitor your heart rate, but also your speed and distance travelled through the use of GPS.
So I was under the impression that this must have been a watch company that had become more sophisticated and was now using GPS. In fact, some of their great watches feature a digital running man which lets you know if you are running at the pace you planned and can tell you if you’re falling behind or running too fast ahead.
After a bit of research, I found out that the company’s main line of business really has to do with producing products with GPS applications. I initially thought Garmin was an acronym for something sophisticated only to find out that it stood for the first names of the company founders Gary Burrell and Min Kao; but the products they produce, though customer friendly have sophisticated technology behind them.
Garmin started out with a marine product and then moved into handheld GPS devices which were heavily used by the military industry. From then on, the company has been producing many products with GPS applications. Created in 1989, the company continues to grow. Annual sales in 2010 stood at $2.7 billion.
Combining GPS and mapping is so useful. The most important thing is you know where you are, or in other words you won’t get lost. It gives you the capability to track yourself or track others be they persons, bicycles, cars, boats, or airplanes.
The applications for GPS just keep on growing, Garmin even has products with GPS applications for golf! By offering more products for general public use, this company will become more recognizable, and it looks like it will continue its growth.
This company was able to take advantage of a technology (GPS) that is free for civilian use and turned it into a multi-billion dollar business.
Monday, November 28, 2011
Telework Research Network: Keeping the Worker Home
Although telework may not be the future of working, it is a future of working. Teleworking is when an employee works out of his or her home via the internet or other wired or wireless communication between the worker and the office.
Teleworking is more widespread than you may realize: that person right on the other side of your cubicle’s patrician could be a part-time teleworker.
I’ve got to be honest with you, I’m a part-time teleworker. I’ve got my full-time gig with all the benefits along with the opportunity to wear a tie forty hours a week in downtown Sacramento. But in the evenings and on the weekend I put in close to twenty hours a week writing freelance assignments.
Since I work for a number of different employers, I am by no means stuck at twenty hours a week. I can cut back when I wish to and ramp back up at other times. The twenty hours is my upper limit and something I can do rather easily while my daughter is busy with homework.
There are also some employees who do all of their full-time work, or at least the bulk of it, as telework. The worker enjoys it because working from home gets rid of ten commutes a week and also reduces clothing and lunch costs. The employer enjoys it too, because telework cuts down on office costs and also improves employee morale.
There is an organization dedicated to spreading the positive word about teleworking: the Telework Research Network. If you are interested in learning more about teleworking for yourself or your organization, I strongly recommend that you contact this organization since they can help you form a pro-telework argument that just might turn the heads you need to turn.
Teleworking is more widespread than you may realize: that person right on the other side of your cubicle’s patrician could be a part-time teleworker.
I’ve got to be honest with you, I’m a part-time teleworker. I’ve got my full-time gig with all the benefits along with the opportunity to wear a tie forty hours a week in downtown Sacramento. But in the evenings and on the weekend I put in close to twenty hours a week writing freelance assignments.
Since I work for a number of different employers, I am by no means stuck at twenty hours a week. I can cut back when I wish to and ramp back up at other times. The twenty hours is my upper limit and something I can do rather easily while my daughter is busy with homework.
There are also some employees who do all of their full-time work, or at least the bulk of it, as telework. The worker enjoys it because working from home gets rid of ten commutes a week and also reduces clothing and lunch costs. The employer enjoys it too, because telework cuts down on office costs and also improves employee morale.
There is an organization dedicated to spreading the positive word about teleworking: the Telework Research Network. If you are interested in learning more about teleworking for yourself or your organization, I strongly recommend that you contact this organization since they can help you form a pro-telework argument that just might turn the heads you need to turn.
Thursday, November 24, 2011
The Pet Industry’s Most Innovative Business: Zoom Room
Is your dog your best friend? If so, then you must be willing to invest in its health. A small company, Zoom Room, is one of the best places dog owners can rely on to keep their pet’s wellness at optimum levels. The fastest-growing pet franchise in America, Zoom Room is the only brick-and-mortar dog-training establishment in the country. It is also the first dog agility franchise in the world.
The company specializes in dog agility training, using the latest equipment and techniques in canine physical exercise. In every franchise, weave poles, A-frames, jumps, teeter totters, tunnels, dog agility walks, and more custom-designed dog agility equipment, are used by trainers. Dogs of any breed, size, and age are welcome to these classes, as well as their owners.
In addition to dog agility, Zoom Room also offers dog obedience training, therapy dog training, dog tricks training, and even puppy preschool. They employ innovative, advanced dog training classes for dogs who need special attention such as Shy Dog class, which is perfect for rescue dogs, and Calm Down! class for hyperactive pups.
The company also allows pet owners to bond with their dogs by teaching them techniques to make their dogs physically upbeat and mentally alert. The “perfect pet franchise” does not simply train dogs. They also train the people who love and care for them.
Zoom Room’s fun, incredibly affordable, and unique approach to business made them one of the top seven small, innovative businesses in 2010. If that’s not enough, the company is also entirely run by an iPad. Each dog has a unique bar code which is scanned into their system using the iPad, much like a regular gym. This way, all information about a particular dog, including updates on its progress, can be easily retrieved.
The pet industry has yet to see another business as innovative as Zoom Room.
The company specializes in dog agility training, using the latest equipment and techniques in canine physical exercise. In every franchise, weave poles, A-frames, jumps, teeter totters, tunnels, dog agility walks, and more custom-designed dog agility equipment, are used by trainers. Dogs of any breed, size, and age are welcome to these classes, as well as their owners.
In addition to dog agility, Zoom Room also offers dog obedience training, therapy dog training, dog tricks training, and even puppy preschool. They employ innovative, advanced dog training classes for dogs who need special attention such as Shy Dog class, which is perfect for rescue dogs, and Calm Down! class for hyperactive pups.
The company also allows pet owners to bond with their dogs by teaching them techniques to make their dogs physically upbeat and mentally alert. The “perfect pet franchise” does not simply train dogs. They also train the people who love and care for them.
Zoom Room’s fun, incredibly affordable, and unique approach to business made them one of the top seven small, innovative businesses in 2010. If that’s not enough, the company is also entirely run by an iPad. Each dog has a unique bar code which is scanned into their system using the iPad, much like a regular gym. This way, all information about a particular dog, including updates on its progress, can be easily retrieved.
The pet industry has yet to see another business as innovative as Zoom Room.
Sunday, November 20, 2011
Adam Witty’s Advantage
Imagine for a moment that you are a motivational speaker. You’ve had some success and have even begun to write a book to help people who can’t come to your talks; but you’re not famous enough for a major publisher to pick it up and all of the self-publishing options either have poor results or are just too complicated. Enter Advantage Media Group. Founded in 2005, Advantage has become more than a publishing house for motivational speakers. It has become a global media presence with expertise in book, magazine, and e-book publishing, as well as an unbeatable marketing force.
Adam Witty, founder of Advantage Media Group, sells his company as a hybrid between the big publishing houses and self-publishing outlets. It has the advantages and polish of big publishers with the customizability and client-centered service of a better self-publisher. That hybridization and Advantage’s emphasis on marketing and distribution gives the publisher an edge over traditional publishing houses whose market share is being gobbled up by e-books and other digital media.
In some ways, Advantage encapsulates the split that will be seen more and more in the publishing world, not only in their smaller print-runs but also in the fact that their clients are people who come to Advantage with their work — however finished or unfinished — and pay the company rather than being paid by the company. In the long run, both the author and Advantage Media Group come out ahead as Advantage works to meet the goals they have set with the author. Traditional publishing houses have the expense of paying the author before his or her book has sold a single copy and without knowing if the book will sell at all.
Advantage’s business model of being a marketing firm that happens to publish books rather than the other way around allows it to remain flexible in a constantly-changing publishing environment.
Adam Witty, founder of Advantage Media Group, sells his company as a hybrid between the big publishing houses and self-publishing outlets. It has the advantages and polish of big publishers with the customizability and client-centered service of a better self-publisher. That hybridization and Advantage’s emphasis on marketing and distribution gives the publisher an edge over traditional publishing houses whose market share is being gobbled up by e-books and other digital media.
In some ways, Advantage encapsulates the split that will be seen more and more in the publishing world, not only in their smaller print-runs but also in the fact that their clients are people who come to Advantage with their work — however finished or unfinished — and pay the company rather than being paid by the company. In the long run, both the author and Advantage Media Group come out ahead as Advantage works to meet the goals they have set with the author. Traditional publishing houses have the expense of paying the author before his or her book has sold a single copy and without knowing if the book will sell at all.
Advantage’s business model of being a marketing firm that happens to publish books rather than the other way around allows it to remain flexible in a constantly-changing publishing environment.
Friday, November 18, 2011
Solne Collections: An Eco-Friendly Online Store
Founded on the core values of sustainability and healthy living, Solne Collections offers consumers organic and eco-friendly products that enhance the quality of their lives. An online store, Solne thoroughly vets its merchandise to ensure that it adheres to the company’s exacting standards. For example, Solne only supplies toys free of harmful volatile organic compounds. With a network of suppliers in Canada, Germany, and the United States, Solne searches widely for environmentally sensitive products. Offering an extensive selection, the company caters to men, women, children, and infants. From fashion apparel to organic beauty products to eco-gift wrap, Solne supports green lifestyles.
Based in Colorado, Solne was started by entrepreneur Lin Merage, considered a leading figure in the state’s green movement. Recognizing buyers’ increasing demand for natural products, she tapped into a market growing in size and influence. By deciding to operate a web-based storefront, Ms. Merage, who serves as CEO of Solne, accomplished the goal of reducing its carbon footprint while offering environmentally conscious choices.
Since the company’s launch in 2004, it also has served as a resource for advice on green living. Aside from its products, Solne’s website includes helpful articles on a range of topics. One such article notes that household materials commonly used for decades, such as wood floor finishes, carpet, insulation, paint, and drywall, release toxic volatile organic compounds. Another article by Solne suggests using natural bedding to create a safe sleeping environment for babies.
Based in Colorado, Solne was started by entrepreneur Lin Merage, considered a leading figure in the state’s green movement. Recognizing buyers’ increasing demand for natural products, she tapped into a market growing in size and influence. By deciding to operate a web-based storefront, Ms. Merage, who serves as CEO of Solne, accomplished the goal of reducing its carbon footprint while offering environmentally conscious choices.
Since the company’s launch in 2004, it also has served as a resource for advice on green living. Aside from its products, Solne’s website includes helpful articles on a range of topics. One such article notes that household materials commonly used for decades, such as wood floor finishes, carpet, insulation, paint, and drywall, release toxic volatile organic compounds. Another article by Solne suggests using natural bedding to create a safe sleeping environment for babies.
Wednesday, November 16, 2011
Browse Free with AnchorFree
AnchorFree, a service which allows users to access the internet privately and for free in places where it is often password-protected at the very least, was founded in 2005 by David Gorodyansky. Its Hotspot Shield makes it easy to both protect personal information while you browse and to surf the web in anonymity, safe from firewalls and censorship that may otherwise hamper the experience. AnchorFree offers a free, ad-supported version in addition to a paid, ad-less version.
The importance and benefit of AnchorFree in general and Hotspot Shield in particular cannot be overstated. In an interview, Gorodyansky stated that his intention with the company was to create a way for users to access the internet without restrictions, a mission he rightly feels has been accomplished. The hotbed for Hotspot is the Middle East and China where governments have a tight grip on their country’s internet usage. China, in particular, has seen a 159 percent increase in users over the past year. Hotspot’s use as a proxy server makes it appealing to citizens but a target for government censors, creating a somewhat precarious balancing act.
In the past year, proxy services like AnchorFree’s Hotspot Shield have been indispensable tools for pro-democracy uprisings like the Arab Spring. At its peak, more than one million people in Egypt alone were using Hotspot to communicate and plan in private. If governments continue to restrict and monitor internet access, proxy services will become even more indispensable. Or even if the internet is restricted not by governments but by corporations, Hotspot Shield will see its user base continue to expand. I believe that the future will be guided by the ways in which people are able to break free from superficial restrictions; and the success of AnchorFree in the face of otherwise overwhelming opposition only solidifies my belief.
The importance and benefit of AnchorFree in general and Hotspot Shield in particular cannot be overstated. In an interview, Gorodyansky stated that his intention with the company was to create a way for users to access the internet without restrictions, a mission he rightly feels has been accomplished. The hotbed for Hotspot is the Middle East and China where governments have a tight grip on their country’s internet usage. China, in particular, has seen a 159 percent increase in users over the past year. Hotspot’s use as a proxy server makes it appealing to citizens but a target for government censors, creating a somewhat precarious balancing act.
In the past year, proxy services like AnchorFree’s Hotspot Shield have been indispensable tools for pro-democracy uprisings like the Arab Spring. At its peak, more than one million people in Egypt alone were using Hotspot to communicate and plan in private. If governments continue to restrict and monitor internet access, proxy services will become even more indispensable. Or even if the internet is restricted not by governments but by corporations, Hotspot Shield will see its user base continue to expand. I believe that the future will be guided by the ways in which people are able to break free from superficial restrictions; and the success of AnchorFree in the face of otherwise overwhelming opposition only solidifies my belief.
2011 Egyptian protests. Photo courtesy of Essam Sharaf.
Sunday, November 13, 2011
Steven Wolt Brings Unique Business Philosophy to Executive Role at ParqAdvisors
A dynamic entrepreneur and business leader with more than 17 years of experience in the life insurance industry, Steven Wolt serves as a trusted advisor to corporate and high net-worth clients. In his position as an Executive for ParqAdvisors in Beverly Hills, California, Mr. Wolt identifies long-term financial planning strategies for businesses, corporate senior managers and directors, and individuals who want thorough, exacting arrangements for their assets. Clients turn to Steven Wolt for advice because of his highly personalized approach to handling their assets and designing their wealth management tactics.
Planning for the future requires in-depth scrutiny of a client’s financial status, long-range expectations for health and wealth, and anticipated expenses later in life. In addition, many people prefer to allocate or outline bequests or trusts to their heirs before their death; such decisions made early provide the best possible information about exactly what each party will receive and sometimes reveal additional funding that could be used to support a favorite charity or new trust.
Corporate executives often make determinations on how to disburse or distribute stocks and other company holdings; these choices may be made as a group with investment colleagues or other shareholders to protect their combined interests. Business owners safeguard their assets and the value of their company with life insurance plans that purchase their partners’ shares in the event of the death of one or more partners. Such measures eliminate the possibility that an heir with no stake in the business might sell the interest or try to draw a salary that the company cannot sustain.
His long tenure in the industry, as well as his reputation for developing sound, customized solutions for clients, gives Steven Wolt insight about innovations he could employ to advance the goals of those who rely on his counsel. His vision for ParqAdvisors includes uncompromising service, high-quality insurance products, informed investment advice, and ongoing monitoring of new opportunities and assessment of existing portfolios. Steven Wolt’s clientele at ParqAdvisors includes a family with major real estate connections in New York and California, a well-known New York hospital, prestigious national law firms, and professional athletes and entertainers.
A noted lecturer on the subjects of financial planning and insurance, Steven Wolt also oversees marketing operations for ParqAdvisors and is working toward earning the designation of Charter Life Underwriter.
Planning for the future requires in-depth scrutiny of a client’s financial status, long-range expectations for health and wealth, and anticipated expenses later in life. In addition, many people prefer to allocate or outline bequests or trusts to their heirs before their death; such decisions made early provide the best possible information about exactly what each party will receive and sometimes reveal additional funding that could be used to support a favorite charity or new trust.
Corporate executives often make determinations on how to disburse or distribute stocks and other company holdings; these choices may be made as a group with investment colleagues or other shareholders to protect their combined interests. Business owners safeguard their assets and the value of their company with life insurance plans that purchase their partners’ shares in the event of the death of one or more partners. Such measures eliminate the possibility that an heir with no stake in the business might sell the interest or try to draw a salary that the company cannot sustain.
His long tenure in the industry, as well as his reputation for developing sound, customized solutions for clients, gives Steven Wolt insight about innovations he could employ to advance the goals of those who rely on his counsel. His vision for ParqAdvisors includes uncompromising service, high-quality insurance products, informed investment advice, and ongoing monitoring of new opportunities and assessment of existing portfolios. Steven Wolt’s clientele at ParqAdvisors includes a family with major real estate connections in New York and California, a well-known New York hospital, prestigious national law firms, and professional athletes and entertainers.
A noted lecturer on the subjects of financial planning and insurance, Steven Wolt also oversees marketing operations for ParqAdvisors and is working toward earning the designation of Charter Life Underwriter.
Saturday, November 12, 2011
The Price of Pain
The management of pain is big business, both in the U.S. and worldwide. There are more than 1.5 billion people around the world suffering from chronic pain of some sort. These individuals flock to pain management doctors or clinics to get help with their chronic pain. The pain management industry currently tops $45 billion and it is expected to near $60 billion in the next three years. While many individuals rely on prescription pain killers to "manage" their pain, this can get quite expensive and can lead to drug dependence and even addiction.
An alternative to prescription drugs for pain management is over-the-counter pain relievers, such as ibuprofen and acetaminophen, but these drugs are often ineffective at handling the magnitude of chronic pain and long-term use has been linked to a myriad of health issues. NeurogesX, a biotechnology company, is dedicated to developing pain management therapies that do not rely on harmful medications. Qutenza, which is currently its leading product, uses a patch to deliver a prescription-strength amount of capsaicin to an area of pain (NeurogesX). Capsaicin is the chemical found in chili peppers that give them their heat. This chemical also relieves pain associated with neuropathy.
While some pain management clinics are simply "pill mills" where people can get their hands on prescription pain killers for the right place, there are some legitimate pain management clinics and many people do need help managing their chronic pain. Many states have started cracking down on the number of pain clinics allowed, which may mean people suffering from real pain may not be able to get help managing it. This is where Qutenza and other products like it come into play. As they are non-narcotic, they are not habit forming and can help billions of people manage their pain safely.
An alternative to prescription drugs for pain management is over-the-counter pain relievers, such as ibuprofen and acetaminophen, but these drugs are often ineffective at handling the magnitude of chronic pain and long-term use has been linked to a myriad of health issues. NeurogesX, a biotechnology company, is dedicated to developing pain management therapies that do not rely on harmful medications. Qutenza, which is currently its leading product, uses a patch to deliver a prescription-strength amount of capsaicin to an area of pain (NeurogesX). Capsaicin is the chemical found in chili peppers that give them their heat. This chemical also relieves pain associated with neuropathy.
Wednesday, November 9, 2011
A Truly Unique International Bank
Rabobank is an international bank based in the Netherlands with offices throughout Europe, North and South America, Asia, Australia and New Zealand. This is a huge bank present in 48 countries and, as of 2011, ranked as the 29th largest bank in the world. Not only that, it's also considered the 6th safest bank in the world.
What makes Rabobank unique is it's actually owned and made up of 141 local cooperative banks. Customers of local Rabobanks can also become members or owners of the local bank. These local banks in turn are the shareholders of Rabobank Nederlands. Rabobank Nederlands in turn is part of Rabobank Group which also comprises other subsidiaries and its international operations.
It’s really amazing how a bank which retains its own unique structure can operate and compete in the global financial arena where banks have the straightforward stockholder owned corporate structure. Rabobank, while operating like any other corporation, has stuck to its cooperative roots. Being one of the world’s largest and safest banks is proof that the unique setup works.
Like other banks, its central office guides the whole organization. Yet with Rabobank, the central office or entity (Rabobank Nederlands) also plays more the role of servicing the other independently-run local Rabobanks. These local Rabobanks are not treated like local branches of a big national bank. After all, they are the owners of Rabobank Nederlands. Somehow this setup works for the bank in its Netherlands operations.
This bank is also is rooted in agricultural finance and continues to be a global leader in agricultural lending while having expanded its other banking services in other sectors such as corporate finance.
Although Rabobank does not fit in the stereotype category of an international bank it has been able to leverage its cooperative origins where customers can also be members and owners. This means being close to their customers; this trait has helped them become a global success story.
What makes Rabobank unique is it's actually owned and made up of 141 local cooperative banks. Customers of local Rabobanks can also become members or owners of the local bank. These local banks in turn are the shareholders of Rabobank Nederlands. Rabobank Nederlands in turn is part of Rabobank Group which also comprises other subsidiaries and its international operations.
It’s really amazing how a bank which retains its own unique structure can operate and compete in the global financial arena where banks have the straightforward stockholder owned corporate structure. Rabobank, while operating like any other corporation, has stuck to its cooperative roots. Being one of the world’s largest and safest banks is proof that the unique setup works.
Like other banks, its central office guides the whole organization. Yet with Rabobank, the central office or entity (Rabobank Nederlands) also plays more the role of servicing the other independently-run local Rabobanks. These local Rabobanks are not treated like local branches of a big national bank. After all, they are the owners of Rabobank Nederlands. Somehow this setup works for the bank in its Netherlands operations.
This bank is also is rooted in agricultural finance and continues to be a global leader in agricultural lending while having expanded its other banking services in other sectors such as corporate finance.
Although Rabobank does not fit in the stereotype category of an international bank it has been able to leverage its cooperative origins where customers can also be members and owners. This means being close to their customers; this trait has helped them become a global success story.
Saturday, November 5, 2011
Mail Order Marvel
Lilly Hochberg launched her mail order catalog business out of her home in 1951, at a time when many women didn’t work, much less start their own businesses. She used the two thousand dollars she and her husband had received as wedding gifts and purchased purses and belts, then placed an ad in Seventeen Magazine offering the belts and purses with free personalization. She received sixteen thousand dollars in orders from that ad alone. The company direct mailed its first catalogs in 1956, selling household goods, gifts, seasonal merchandise, and children’s products.
The Lillian Vernon company continues to provide mail order goods sixty years later. The company now has eight mail order catalogs, along with a website and fourteen outlet stores across the Eastern United States. Free personalization is still offered on a variety of items, which is one of the reasons the company is still going strong today.
The company went public in 1987, but remained a family-run company throughout much of its history. The website was launched in 1995; and in 1996, Lillian Vernon mailed 179 million catalogs and made revenues of $238.2 million. The company is headquartered in Colorado Springs, Colorado. Its national distribution center and corporate headquarters encompass an 827,000-square-foot facility. More than 130 million orders have been shipped since the company got its start in 1951. Hillary Clinton, Tipper Gore, and Frank Sinatra have all been Lillian Vernon customers at some point in their lives and the company has been featured on a variety of television shows, including Jeopardy, Saturday Night Live, and David Letterman.
The Lillian Vernon company continues to provide mail order goods sixty years later. The company now has eight mail order catalogs, along with a website and fourteen outlet stores across the Eastern United States. Free personalization is still offered on a variety of items, which is one of the reasons the company is still going strong today.
The company went public in 1987, but remained a family-run company throughout much of its history. The website was launched in 1995; and in 1996, Lillian Vernon mailed 179 million catalogs and made revenues of $238.2 million. The company is headquartered in Colorado Springs, Colorado. Its national distribution center and corporate headquarters encompass an 827,000-square-foot facility. More than 130 million orders have been shipped since the company got its start in 1951. Hillary Clinton, Tipper Gore, and Frank Sinatra have all been Lillian Vernon customers at some point in their lives and the company has been featured on a variety of television shows, including Jeopardy, Saturday Night Live, and David Letterman.
Tuesday, November 1, 2011
The Honesty of Honest Tea
Seth Goldman co-founded the Honest Tea brand with his business school professor, Barry Nalebuff. The two realized they shared in interest in flavorful, yet less sugary, beverages while the class discussed the Coke vs. Pepsi debate. In 1997, Goldman and Nalebuff revised the idea after Nalebuff returned from India where he was working on a case study for the tea industry. He’d come up with the name Honest Tea for a company that bottled tea made from real tea leaves. Goldman loved the name and quit his job to begin brewing Honest Tea.
Goldman started experimenting in his kitchen, bringing samples of the tea in thermoses along with a mock-up of the label to Fresh Fields, an organic grocer that would later become Whole Foods only five short weeks after starting with the brewing experimentation. At that fortuitous meeting, he got an order for fifteen thousand bottles of Honest Tea. The brand hit stores in June of 1998 and the company made $250,000 in sales in only seven months.
Over the years, the company has expanded to provide a variety of tea flavors, all organic, ranging from unsweetened to a tad sweet. Honest also produces tea bags, lemon and limeades, as well as a line of organic low-sugar drinks for kids. The company prides itself on using only the finest organic ingredients, and refuses to use high fructose corn syrup in its products. Honest bottles their beverages in glass bottles, and PET plastic bottles, along with individual pouches and sixty-four-ounce bottles of the kids’s drinks.
The company’s sales topped $71.5 million in 2010 and they were listed on Inc.’s list of 500 fastest-growing private companies in 2004. In 2008 the Coca-Cola Company purchased forty percent of the company, which opened up new distribution options worldwide.
Friday, October 28, 2011
Get Your Groupon
Pretty much anyone who is computer savvy has heard of Groupon and other group coupon websites. Groupon offers one amazing deal every day in each of its markets. Deals include everything from restaurant certificates to manicures, pedicures, massages and more, for between fifty and ninety percent off retail price. Groupon is the brainchild of Andrew Mason, who is currently the company’s CEO. With a million dollars in seed money from former employee, Eric Lefkofsky, Mason launched the company in 2008.
Businesses in each of Groupon’s markets submit deals they’d like to offer and Groupon selects just one to offer each day. Sometimes national companies, such as Amazon.com and The Gap, offer deals across the country. Deals are typically of two types: a specific service or product at a reduced price, or an amount of money to spend on goods or services. Consumers love Groupons because they offer savings on services and products they normally use as well as the opportunity to try new things without spending a fortune. It also appeals to the bargain hunter inside everyone. The company prides itself on customer service and honesty and does its best to point out any catches plainly up front, so customers are not disappointed with the Groupon experience.
Groupon, which is currently worth more than $1.3 billion, offers deals in forty-three countries, including Brazil, Germany, Mexico, and South Africa. The company offering the Groupon deal typically keeps fifty percent of the sale price and Groupon takes the other 50 percent. Each deal has a minimum quantity that must be purchased before the deal becomes active, but meeting the minimum is typically not an issue. Groupon has turned down purchase offers from both Yahoo! and Google. An initial public offering is expected in 2013.
Monday, October 24, 2011
Save Some Green with the GasBuddy App
With gas prices continually fluctuating — and typically on the rise — it’s good to know what the prices are around town before you fill up. This is especially important considering for people who are out of work or struggling to make ends meet. While entrepreneurs Jason Toews and Dustin Coupal were brainstorming about Web start-up ideas in Minneapolis in 2000, they came up with the idea of a website that would help people find the best gas prices in their area. GasBuddy.com was launched in 2000, relying on user data for up-to-date gas prices.
While the site was helpful, users needed to write down or remember gas prices until they could get to a computer to input the information. Data was gathered slowly and there were often mistakes since the information was entered at a later date. As mobile apps gained popularity, Toews and Coupal realized that a mobile app could be the solution to their problem. Using the app, users could log in and update gas prices at the pump, rather than waiting until they got home.
The GasBuddy app was introduced for both iPhone and Android in 2009 and quickly became one of the most popular downloads. The app has been downloaded more than six million times and about fifty thousand new downloads occur every day. There is no cost to download the app and there are no advertisements on the app.
For those who need an incentive for taking a moment to enter a gas price to help others save money, the site offers points each time you enter price information. These points can be used for drawings for free gas and other offers. Many “Spotters” update several times a day, updating prices as they drive to and from work or run errands, earning points and helping hard-working people save money.
Friday, October 21, 2011
Coherix Seeing the World in Detail
Coherix Inc. creates machines with amazing abilities. Its machines can see to one millionth of a meter – ie, one micron – in three dimensions. Yeah, and you thought Google Earth was cool, huh?
Coherix does this, according to its website, in order to “supply Robust 3D products that enable customers to produce their products with higher precision and with higher yields, leading to high quality products produced at a lower cost per unit.”
The means by which Coherix goes about accomplishing this mission seems to be working, since in September, 2011 (according to this press release) the company received a Phase II Small Business Innovative Research (SBIR) contract from the U.S. Naval Warfare Center.
This contract was awarded to Coherix for the purpose of enabling the company to “develop a system for Surface Mapping of Corrosion on Complex Curved Surfaces. Coherix will apply its unique and proprietary 3-dimensional holographic metrology technology, previously delivered by Coherix for precision measurements in worldwide transportation industry manufacturing applications, to provide the Navy with the capability to detect and measure corrosion to the micron level of resolution.”
Coherix developed a method that deploys holographic technology to measure and determine the shapes of “critical mating surfaces ‘where microns matter.’” According to its corporate profile, two relevant fields using its machines are the vehicle and semiconductor industries. In total, the company has developed and field-tested more than 150 functional tools that are being used in more than 3,000 locations across the globe.
To learn more about Coherix, visit:
abc story
cbs story
Profile
Coherix does this, according to its website, in order to “supply Robust 3D products that enable customers to produce their products with higher precision and with higher yields, leading to high quality products produced at a lower cost per unit.”
The means by which Coherix goes about accomplishing this mission seems to be working, since in September, 2011 (according to this press release) the company received a Phase II Small Business Innovative Research (SBIR) contract from the U.S. Naval Warfare Center.
This contract was awarded to Coherix for the purpose of enabling the company to “develop a system for Surface Mapping of Corrosion on Complex Curved Surfaces. Coherix will apply its unique and proprietary 3-dimensional holographic metrology technology, previously delivered by Coherix for precision measurements in worldwide transportation industry manufacturing applications, to provide the Navy with the capability to detect and measure corrosion to the micron level of resolution.”
Coherix developed a method that deploys holographic technology to measure and determine the shapes of “critical mating surfaces ‘where microns matter.’” According to its corporate profile, two relevant fields using its machines are the vehicle and semiconductor industries. In total, the company has developed and field-tested more than 150 functional tools that are being used in more than 3,000 locations across the globe.
To learn more about Coherix, visit:
abc story
cbs story
Profile
Sunday, October 16, 2011
oDesk: Bringing the World Together One Freelancer at a Time
The workforce is changing, and jobs are moving and shifting around. To survive, workers and employers alike have got to be able to adapt and take advantage of this ever-changing environment. oDesk is one of the most effective ways for employers to match up with employees that possess the exact skill sets they are looking for.
oDesk is an online platform that is home to a global job marketplace. It works simply by providing a place for employers to post help-wanted type ads online, which thus simultaneously offers a way for prospective employees to apply for these jobs. Once a contract has been assigned, oDesk tracks an employee's hours worked and takes screen shots of the work being done, giving the employer an effective means to monitor the work as it is being done. oDesk also handles the payment process, and it guarantees that hourly workers get paid. For this, oDesk receives 10% of the payment. There are no other fees.
Created in 2003 by Greek entrepreneurs Odysseas Tsatalos and Stratis Karamanlakis, the Redwood City, CA company – according to CEO Gary Swart in this article – has at least 1.5 million freelancers working for 250,000 employers. Most of oDesk's employers are small companies and its employees come from all around the world. Employers can find work writing, translating, developing software, statistical analysis and virtual personal assisting.
People can decry the shifting landscape of employment, of the moving of jobs around the world. People can also celebrate it and take advantage of it. However, what people must not do, is deny it.
To learn more about Odesk, visit:
Interview with Odesk CEO Gary Swart
CNN Odesk Article
Created in 2003 by Greek entrepreneurs Odysseas Tsatalos and Stratis Karamanlakis, the Redwood City, CA company – according to CEO Gary Swart in this article – has at least 1.5 million freelancers working for 250,000 employers. Most of oDesk's employers are small companies and its employees come from all around the world. Employers can find work writing, translating, developing software, statistical analysis and virtual personal assisting.
People can decry the shifting landscape of employment, of the moving of jobs around the world. People can also celebrate it and take advantage of it. However, what people must not do, is deny it.
To learn more about Odesk, visit:
Interview with Odesk CEO Gary Swart
CNN Odesk Article
Thursday, October 13, 2011
CopyMe: Giving Expert Traders the Power to Build Investment Businesses
Investing is tough. Investing is vital to a happy future. But when done poorly, investment can financially destroy a person. Many do not know where to turn when it comes to investing. However, there is good news, for there is a new technology that is introducing a great number of expert investors into the world, peddling their wares, their skills and their expertise.
The technology is CopyMe, an application that gives individual expert traders the power to showcase their skills and create their own investment businesses, in order to create an additional stream of income.
The application has so much promise that it earned its company, eToro – the world’s largest investment network, – its second consecutive Best of Show award at FinovateFall, a technology awards show.
eToro CEO, Jonathan Assia, was honored to have won the award, saying in this profile, "We are very proud to be recognized by Finovate on both sides of the Atlantic. This award confirms industry endorsement for our vision to enable every expert to easily create their own respectable investment business and to offer potential investors with a fully transparent and performance-based investment alternative."
CopyMe works by giving expert traders access to eToro’s OpenBook, which in turn gives them the opportunity to showcase their trading skills to the more than 1.75 million registered eToro members. As eToro users are able to examine the success of these expert traders, they will be able to sign up the expert of their choice to potentially realize the same levels of profit that the experts do.
To learn more about eToro’s CopyMe, visit:
cnbc Article
Award for Copy.Me
Trends: Finovatefall
The technology is CopyMe, an application that gives individual expert traders the power to showcase their skills and create their own investment businesses, in order to create an additional stream of income.
The application has so much promise that it earned its company, eToro – the world’s largest investment network, – its second consecutive Best of Show award at FinovateFall, a technology awards show.
eToro CEO, Jonathan Assia, was honored to have won the award, saying in this profile, "We are very proud to be recognized by Finovate on both sides of the Atlantic. This award confirms industry endorsement for our vision to enable every expert to easily create their own respectable investment business and to offer potential investors with a fully transparent and performance-based investment alternative."
CopyMe works by giving expert traders access to eToro’s OpenBook, which in turn gives them the opportunity to showcase their trading skills to the more than 1.75 million registered eToro members. As eToro users are able to examine the success of these expert traders, they will be able to sign up the expert of their choice to potentially realize the same levels of profit that the experts do.
To learn more about eToro’s CopyMe, visit:
cnbc Article
Award for Copy.Me
Trends: Finovatefall
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