Archive for January 2005
This week’s Carnival of the Capitalists is up at Ashish’s Niti.
So You Want To Be A Computer Consultant
Slashdot: “Stephen Friedl writes ‘I’ve been a self-employed consultant for almost 20 years – I still have my first customer! – and I’m asked often about the business by those who are considering it. It’s not for everybody, and there are often surprises, so I’ve written up a Tech Tip that recounts my experiences and [...]
“Real Estate Investment Course” Scam
REO News: “Inman News reports that the Federal Trade Commission filed charges against marketers of a course that claimed to teach students how to buy and sell mortgage notes. One more get rich quick course scamming people who just want to learn to make a legitimate real estate or mortgage investment. Best bet is still [...]
Starbucks Creates Opportunities For Others With Their Costly WiFi
David St Lawrence: Starbucks charges a pretty penny for wireless access and they are doing the competition an enormous favor. If you are not up to paying starbucks a $30 monthly fee for wireless access, you can expect to cough up $6.95 per day to check your email. (cough! cough!) This makes it easy for [...]
Entrepreneurs Reinvent The Family Farm
MSN: Call it the lure of the land. Just as the family farm seems destined to become a romantic icon of another era, entrepreneurs are spying opportunity in agriculture. Membership in the American Cheese Society has doubled, to 250 artisanal cheesemakers, since 2001. Small wineries now sell more than 66 percent of California wines priced [...]
Defining an Exceptional Business
NFIB: “Every large, Fortune 500 company once was a small business. So what did they do differently that allowed them to grow and profit so well? Maybe more appropriately, the question should be, what does it really take to create an exceptional business that prospers? In the book Built to Last, Jim Collins and Jerry [...]
A Revival For Door-to-door Marketing
MSN: “Now that the national do-not-call list makes it impossible to reach millions of potential customers, some marketing companies are returning to an old-fashioned alternative: door-to-door salespeople.” via Linda Riley.
The Venture Capital Cycle, Second Edition
Paul Kedrosky: “Some of you may have an appetite for deeper analysis of the venture capital industry. If so, a good place to start is Gompers and Lerner’s “The Venture Capital Cycle” which recently came out in a second edition. You can read the introduction in its entirety here.”
The Entrepreneurial Mind: I have known a couple of folks who started businesses offering their services as professional organizers. This article at StartupJournal shows how much financial opportunity and satisfaction that there may be for this type of business. “‘I keep doing it because I love it; it’s instant gratification,’ says Sally Allen, owner of [...]
Glenn Fleishman: “It took a little doing, but you can watch my presentation on The Entrepreneurial Blog from the recent Blog Business Summit. I managed to sync up the audio that was recorded to MP3 with my slides. The intra-slide sync is a little off: the bullet points and reveals aren’t perfectly timed to my [...]
Newest Pension Plans Target Self-Employed
Startup Journal: “Financial-services companies are offering a way to help self-employed workers stow away more money for retirement: pension plans. These so-called defined-benefit plans allow self-employed workers to set aside $100,000 or more a year, substantially more money for retirement than they ever could in a traditional 401(k). The maximum self-employed workers could save in [...]
→ houlihans.com A pioneer in the full-service, casual dining industry, Houlihan’s has been serving up the finest pastas, ribs, desserts and more in a relaxed, friendly atmosphere since 1972. Houlihan’s signature indulgences include tender Barbecued Baby-Back Ribs, decadent Caramel Nut Crunch Pie and Herb-Cheese Stuffed ‘Shrooms. Currently, 78 Houlihan’s restaurants operate throughout the country, including [...]
→ huhot.com HuHot Mongolian Grills, L.L.C. started with a Mongolian BBQ grill called Mongos Mongolian Grill in Missoula, Montana in June 1999. Since then, the concept has proven to be very successful and the company plans to rapidly expand. The name HuHot (the ancient capital of inner-Mongolia) was chosen for future and franchised restaurants. It’s [...]
Indigo Joe’s Sports Pub and Restaurant
→ indigojoes.com The compelling Indigo Joe’s story is one of opportunity, not only for their customers and employees but for those who are looking for a quality franchise investment. A growing number of individuals are enthusiastically joining the Indigo Joe’s franchise program in order to: Get in on the ground floor of a quickly growing [...]
→ italianpierestaurants.com The Italian Pie began in New Orleans, Louisiana, on Bienville Street, back in 1992. Musa and Fatima Ulusan conceived the concept and opened this first location. In 1998, Tom Cangemi partnered with Musa to begin to grow the concept. Tom Cangemi is the former CEO of Ruth’s Chris Steakhouse and first sampled the [...]
→ kriegerspub.com Krieger’s feels confident that their sports-minded restaurants and quality foods fit a needed niche in the restaurant industry. They have developed a great brand, both in their Hometown and outside the St. Louis Area, by consecutively being voted the #1 Sports Bar in St. Louis, Best Place to take the Kids, and Best [...]
→ rotellipizzapasta.com Rotelli Pizza & Pasta knows that quality in its finest form has to begin with people, products, and performance. From the assistance with site selection to the premium quality of their products to their staffs on-going service in training, field marketing and standards of excellence in operations – Rotelli stands apart from the [...]
→ pepes.com Pepe’s Mexican Restaurants in the Chicago and Northwest Indiana area offers a broad selection of authentic Mexican style food, available in full service restaurants, quick service locations and carryout. Pepe’s also offers branded programs as well as private label. Established in 1967 by Mario Dovalina and Edwin Ptak, Pepe’s has grown from humble [...]
→ ribcrib.com Rib Crib is a barbecue-themed casual dining restaurant concept that delivers award-winning barbecue and outstanding customer experiences, resulting in substantial economic performance. For almost a decade, individuals, families, businesses and organizations have enjoyed their high-quality menu. Hickory smoked meats, side orders, appetizers and desserts are prepared and presented by employees who implement their [...]
SBA Approves Record Number of Loans
Inc.: “Despite rising interest rates and higher fees, small business owners tapped a record number of Small Business Administration-backed loans in the first quarter of fiscal year 2005. In the quarter, which began October 1, 2004 and ended December 31, 2004, the Small Business Administration (SBA) and its partner banks approved 23,197 loans worth $3.56 [...]
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Infectious Greed: “About the closest study I could find on-point was this one from a Case Western doctoral student. And as I suspected, his data shows that the evidence is ambivalent, at best, with respect to the efficacy of incubators. Matter of fact, the most significant benefits of incubators seem to come from reputational effects [...]
I’m trying to gain a better understanding of my readers, and would really appreciate it if you would take a couple seconds and answer the following survey questions. Thank you. Age under 14 14-18 19-24 25-30 31-40 41-50 51-60 61-70 71+ Gender Female Male Entrepreneurial Status Full time entrepreneurPart time entrepreneur (have a job and [...]
Wanted: A Few Good Entrepreneurs
Dan Sherman is looking for a few good entrepreneurs. I wonder what he’s up to…
Business Week: Talk to enough family-business owners, and one thing becomes clear very quickly: For those with their own name on the shingle, business and family life are intertwined. Yet with increasing specialization, competition from corporate giants and from outsourcing, family businesses are under more pressure than ever to innovate, find new efficiencies, and improve [...]
Craigslist And Cottage Industries
Kottke: “I’d never really thought about it before, but in some ways, [Craigslist] helps lots of people build businesses cheaper and more effectively than more “robust”, complex, and expensive enterprise software solutions. Movers are just one example. CL can help you find employees for your business. If you’ve got a van, you can pick up [...]
Birth of an Industry: IPod Loading
NY Times: It sounds like a line from a spam e-mail: Work from home! Low risk! Flexible schedule! Earn hundreds of dollars each gig! But an emerging group of resourceful entrepreneurs says there is no catch. The rising popularity of Apple’s sleek iPod has created a new niche service: the professional iPod loader. There are [...]
Collections & Hobbies Can Become Real Businesses
CBS Market Watch: An estimated 430,000 Americans make a full- or part-time living from running a business on eBay, says spokesman Hani Durzy. “It offers a level playing field to businesses of all sizes,” Durzy says. Ninety percent of eBay’s volume is small businesses and individual sellers — it’s one place where big businesses fear [...]
Welcome to this week’s edition of the Carnival of the Capitalists. There were tons of great posts last week in the capitalist blogosphere: David Tufte wondered, in voluntaryXchange: “when is a good worth more when you remove what makes it a good (e.g., a musician wonders whether his reel-to-reel masters of past studio work are [...]
How Small Business Owners Sabotage Business Growth
Michael Cage: Small business owners believe they are extraordinarily capable, able to fix the biggest disaster through sheer force of will, and are able to out-work, out-think, and out-hustle anyone and everyone else in or around their business. This is a strength and a weakness. In many cases, they are right. But it is serious [...]
Small Business Trends: According to the just-released 2004 Global Entrepreneurship Monitor, 73 million people worldwide are entrepreneurs. That equates to roughly 9.3% adults, or one in eleven people, out of a total workforce of 784 million. Many of the findings are similar to past reports, such as: Most entrepreneurs (65%) are opportunity-driven, versus 35% who [...]
Though not the typical kind of book I link to from here, The Frozen Water Trade is an insightful look at an early American entrepreneur who created an entire industry. Amazon: “[The book] introduces turn-of-the-19th-century Bostonian Frederic Tudor as an indefatigable American dreamer who sought to give people something they didn’t know they wanted-and make [...]
eHow: “Think you’ve got gold in them thar hills? Or oil, gas, coal, copper or other minerals? Sell the mineral rights while you hang on to the property. Depending on the particulars, mineral rights may produce a steady stream of income.”
Law & Entrepreneurship News: “Entrepreneur Online has an excellent article by Guy Kawasaki in which he provides a list of essentials for entrepreneural success.”
Unlicensed New York Street Mechanics
Houston Chronicle: The men saunter up and down a littered block of Third Avenue in the Bronx, casting glances at passing cars. When the cars slow down, the men mouth silent promises of a cheap fix. When the drivers pull over, the men scan for cops before sliding up to the curb. It is a [...]
The Entrepreneur’s Success Kit : A 5-Step Lesson Plan to Create and Grow Your Own Business
Amir Hegazi, reviewing on Amazon: “As an aspiring entrepreneur, small-business owner, and avid student of business, I found the Entrepreneur’s Success Kit to be much more practical and relevant to my business and own development than any other literature on entrepreneurship (or general business/management for that matter) I’ve come across. It’s my belief that the [...]
Barry Moltz: Kaleil Isaza Tuzman of Startup.com movie fame has a new book out this week, The Entrepreneur’s Success Kit : A 5-Step Lesson Plan to Create and Grow Your Own Business. KaleilLike 60 million other people, I have watched the movie several times. It does not leave a very favorable impression of Kaleil and [...]
The Safest & Riskiest Small Businesses
BizStats: “What are the safest small businesses to start, and what are the riskiest? One measure of risk is to compare relative percentages of profitable and loss businesses in a given industry. We used sole proprietorship data since net income or loss is not affected by owners’ compensation. We compiled data on 120 different types [...]
Fortune Small Business: “It is exhausting. Customer demands keep me and other managers logging ten-hour days and inhibit our ability to plan. But as much as I want to complain, I’m beginning to see relentlessness as my ally. Short lead times give us a huge advantage over our less agile rivals, especially larger manufacturers or [...]
Tax Savvy for Small Business: Year-Round Tax Strategies to Save You Money
Amazon: Knowing the ins and outs of the tax code is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line — and the IRS is always watching. Fortunately, Tax Savvy for Small Business provides valuable strategies that will free up your [...]
Help me get a Mac mini and I’ll paypal you $5. I think Apple’s new Mac mini will be a huge hit. The combination of its size, looks (both inside and out), functionality and price point (not much more than an iPod!) is bound to make a lot of people give one a try and [...]
Transition Of Worker To Entrepreneur Hard
Washington Post: Many entrepreneurs get a bit of a rude awakening when they make the transition from someone else’s employee to head of a company. Suddenly they are in charge of a long list of chores that they can’t just turn over to someone else — there’s no accounts receivables or human resources departments. And [...]
The New Yorker: “In the year and a half since Josh, Ricky, and Jakob left college, traffic to the site has grown three hundred per cent. In December of 2003, CollegeHumor.com generated $45,400; in December of this year, the revenues were $405,000.” via Darren Barefoot.
Entrepreneur: “Whether you’re about to start a business on eBay or are ready to take your existing business to the next level, we’ve put together 51 tips for successful selling on eBay from a panel of experts.” via CareerNiche.
Entrepreneur: “Though franchising as a concept has existed for centuries, it became a prevalent force in American business just a few generations ago. And as anyone who has watched TV, listened to the radio or read ads can attest, franchising has become an icon of American life. Robert A. Robicheaux, chair of the Department of [...]
An In With the In Crowd, for a Fee
NY Times: Dressed in a sober business suit, Jorge Lima, 30, a salesman for a pharmaceuticals company, looked out of place among the gyrating house music mavens at Cielo, a lounge with a futuristic theme in the meatpacking district known for a rotating cast of celebrity D.J.’s. But Mr. Lima didn’t mind. On a recent [...]
The Strange Side of the Small Business Adventure
MYOB: “One of the wonderful features of small business ownership is the ability to be unique and offer something special to customers that the mega-business simply can’t provide. So don’t be afraid to get in touch with your own ‘strange side’ if it helps your business.”
Cheap Legal Advice May Be Costly
StartupJournal: At a recent meeting of a small-business subcommittee of the American Bar Association, attorneys swapped tales of entrepreneurs who were determined to cut legal corners. Common legal mistakes in the early stages, according to Jeff Mitchell, an attorney at LeClair Ryan in Blacksburg, Va., include commingling funds of the corporation with those of the [...]
Older Americans Lead The Way For Entrepreneurship
Law & Entrepreneurship News: The USA Today is reporting that 5.6 million workers age 50 and older are now self-employed. This marks a 23% increase from the number of self-employed over 50 year olds in 1990. The article cites numerous factors for this increase in entrepreneurship amongst the over 50 population. One of the major [...]
Joseph Kowal: “Here’s a good online business idea for you: Take your camcorder to the local car shows, boat shows, rodeos, or any other big event that you think people would be interested in. Film the best, most exciting parts of each event and burn that video to DVDs. Sell the DVDs on eBay, your [...]
