Up and Running Blog

October 2009

Recession Successes

by Steve Lange on October 7, 2009

It’s always difficult to keep an upbeat view during hard times, and to remember that there are always opportunities for those who look close enough. Still, without those doggedly incurable optimists, we would still be plodding along without the benefits of some iconic inventions.

A list of Recession Inventions: Success Stories in Bad Times, was posted last Monday on mainstreet.com.

Chocolate Chip Cookies — 1930
Fortune magazine — 1930
Basketball — 1891
Miracle Whip — premiered nationally 1933
Monopoly board game — the early 1930s
Transparent adhesive tape — 1930
Coors Brewery — opened 1873
iPod — 2001
Ketchup — 1876
Compact fluorescent light bulbs — 1970s
Twinkies — 1930
Photocopiers — 1937
Diet Coke — 1982

The LA Times posted a similarly-themed list in their Some inventions born amid recession recently. So did ABC News Eureka! Recession Sparks Inventive Spirit while this BusinessWeek article, 20 Most Import Inventions of the Next 10 Years looks at Innovation from Recession.

So even in a bear market, grab the bull by the horns and pursue your dreams of innovation.

Steve Lange
Palo Alto Software

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There are long-term needs and wants, and then there is fashion, and there is changing technology as well. Does the recession mean markets are falling apart? Is technology making some markets fall into disorder? Does that make this a good time to start something new in those same markets? Maybe.

Seth Godin suggested this the other day, in Crowded at the Top:

The very best time to launch a new product or service is when the market appears exhausted or depleted. There’s more room at the top and fewer people in a hurry to get there.

He cites four specific markets that seem to fit this general pattern:

The next golden age of journalism, of communications, of fashion, of car design–those are being established now, in a moment when it’s not so crowded at the top.

That makes sense in general, but you have to be careful. Sometimes markets crumble because something else replaces them, or the need dies, or fashions change forever. Think about buggy whips, telegrams, cassette tapes or hula hoops. The underlying needs are still there, but the actual markets have died where they were and been reborn somewhere else.

(Photo credit: Vibrant Image Studio, Dean Pennala/Shutterstock)

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Are you kicking yourself that you missed the Grow Smart Biz conference the other week in DC?

Well kick yourself no longer!

Network Solutions has graciously placed videos from the conference on their GrowSmartBusiness.com website.

Make sure to check out Palo Alto Software’s Jake Weatherly in the Panel 3 video: Staying Ahead in the Current Economy.

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youngguns

“The Big Idea is what makes you get up and reinitiate the process of building your dream whenever you hit an obstacle.”—Robert Tuchman

Technology, these days it is something we cannot live, breathe, or function without. Right now is the best time to be an entrepreneur and tackle your next big idea and dive in head first, to take advantage of starting your own business. Fifty-years ago your contacts remained in your regional and even local area. Today the vast number of people you can reach, communicate with, and do business with is global.

So what is “The Big Idea?” When we hear this we think, well it is something that doesn’t exist anymore, all the big ideas have already been created, and we are programmed to think that we have to work for the “Big Man,” instead of harnessing that idea ourselves. The problem is there actually is an absence of big ideas in an entrepreneur’s world. Even if you have all the access to all of the tools you could possibly need to launch, build, and grow your business, that business will not succeed if you see impossible-to-solve problems everywhere you look. Let’s take for example, Kevin Greaney, the CEO of Children’s Progress, a company that helps teachers and school administrators evaluate how kids are doing in the classroom. He harnessed his idea and believed in the opportunities of his company:

“We were already very interested in student assessment and student achievement. I had managed several small businesses in the educational field. My partner Eugene Galanter and I each had some strong opinions about the players who were already out there, these big for-profit publishers who controlled most of the market. They were doing their version of assessment: these big standardized, bring-a-number-two-pencil, fill-in-the-bubble tests.  We knew that those kinds of tests had been developed in 1906, and they really hadn’t changed since then. We felt very strongly that those tests were just boring, that they didn’t really tap into the mind of a child being tested, and that they didn’t really tell the instructor much. We felt we could build a better tool because we were using principles that weren’t, you know, a century old. So we were pretty excited about student achievement, even before we formally started the business.”

Kevin Greaney’s Big Idea had to do with harnessing technology and using it to improve student achievement. My Big Idea mixed top businesses with top-tier sports and helping those companies enjoy the sporting events that I enjoy so much as well. The most important thing to remember about your Big Idea is to love it, in a way you want to be married to it. If you wake up every morning and the first thing you think about is music, check out the latest on new business ideas that connect with music. Research it, harness it, and make it your own. Always remember to add your niche to any idea that you have, stand out and be different. Love something and it will not fail, do not look at a closed door but rather finding a way to always keep it open, and the world is your oyster.

_________________________________

younggunsWhen Robert Tuchman started his first business, Tuchman Sports Enterprises (TSE), he did so with no money and no investors and ended up on the Inc. 500 list of America’s fastest growing privately held companies.

Now President of Premiere Global Sports, Robert continues to guide his company as well as writing the series “The Show Must Go On” for ESPN.com,  a monthly column for Entrepreneur.com called “Young, Fearless, and Fed Up” as well as a column called “On-Site” for Incentive Magazine, an industry trade publication for incentive and meeting planners. He is the author of The 100 Sporting Events You Must See Live, a sports travel book as well as Young Guns, The Fearless Entrepreneurs Guide To Chasing Your Dreams and Breaking Out on Your Own.

www.youngbusinessexecutives.com

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The programming may not be any better, and the advertising is threatened, but the televisions themselves, the hardware, are a growing market. Steve King points that out in his post today called The Death of TV Exaggerated on his Small Business Labs blog.

The average U.S. household has 2.86 televisions. That compares to 2.43 per household in 2000, and two per household in 1990. And that’s more TVs than people, since our last census showed only 2.56 people per household. Research also indicates that Americans watch more TV than ever, an average of 153 hours per month.

I’m guessing that one thing confusing about television trends is the gradual decline of major network market share of viewers and relative growth of internet advertising compared with television advertising. Both of those trends would seem to fit with growing importance of cable alternatives and cable programming.

Another thing that I’m guessing has happened is the impact of the new HD and thin-screen technologies. I was looking at televisions in Costco last weekend and I was shocked at how much prices of HD televisions have dropped since I last bought one a couple of years ago.

(Photo credit: Marilyn Volan/Shutterstock)

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All About You

by Chelle Parmele on October 5, 2009

Last week I started assisting my mother and my aunt in starting blogs. It’s been quite a while since I created a new blog from scratch using the WordPress platform and it gave me a unique chance to see the blank slate a blog starts on. All those exciting possibilities to create a space for your words and thoughts for people to read.

My mother will be using her blog to talk about the experience of writing a cookbook. She’s newly retired and this will be her first “I’ve got to stay busy” project.

As I was going through the different sections of the blog she needed to customize, I told her she was going to need to write an “About” page.

“About what?”

“About you,” I answered. “You want to give people an idea of who you are. Why you’re writing this blog. They will want to know why they should trust your information.”

This morning, as I was catching up on some of my blog reading, I noticed this post by Lisa Barone on “Crafting a Killer About Page” at www.smallbiztrends.com.

It goes through some really useful tips on how to make your About page stand out and creating a bases of trust between your customers and your business.

“Your About page is what allows people to get to know you. It’s your introduction and their chance to look behind the curtain to see what lies beneath. You wouldn’t go to a party and stand around not introducing yourself, so why commit the same act on your site? Don’t forget your About page.”

To her very good advice, I would add that you should also make a note to check your About page and update it, at the very least, yearly. It can be as simple as updating your profile picture or adding some new exciting information about your business, product or service.

Fantastic advice for either a personal blog or a business one. And as always, make sure you read the comments to get even more great advice.

‘Chelle Parmele
Social Media Marketing Manager

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Launching on Twitter

by Tim Berry on October 2, 2009

This is a good story: “How TweetPhoto Used Twitter to Get the Company Off the Ground, ” by Riva Richmond at the Wall Street Journal‘s WSJ.com

It tells the story of Sean Callahan and his TweetPhoto, a Twitter-related photo sharing that launched over Twitter. Callahan was worried about waiting while the established leader, TwitPic, got bigger. So he launched while still finishing his degree in London.

Over the next few months, Mr. Callahan’s Twitter stream and blog documented, blow by blow, the startup of a new business, with all of its victories and defeats. His experience suggests that wise use of social media could help speed the birth of many new ventures–not just those involved in social networking–if a business owner knows how to connect with the right people, learn from their conversations and weather the ups and downs that come with this new form of communication.

It’s an interesting story. And there’s also the advantage of publicity; in this case it was on WSJ.com, and here I am posting about it. I’m sure that TweetPhoto isn’t the only business launched this way on Twitter, but this is the one we’re looking at.

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legalsummerlogo

During his second year of law school, Philip Amoa began the process of searching for internships. He found the research stressful — he had to locate law firms in specific geographic markets, personalize application documents, and meet important application deadlines, all while trying to prepare for classes the next day. A joking suggestion from a friend to hire a personal assistant planted the seed in his mind to create some way to make the process easier, and a short time later, Amoa launched LegalSummer.com.

LSLogoLegal Summer combines the use of proprietary technology and an extensive database of law firms to provide the services of a personal assistant to law students who are looking to further their careers, but who have limited time to devote to the search. It helps law students identify possible job/internship opportunities based on location, and gives students the ability to email their customized cover letters and resumes with a single mouse click.

When opportunity knocks

Amoa considers himself a “situational entrepreneur,” and says, “When I started law school and began applying for internships, I realized the process was time-consuming and that was the point I started to think of ways to make the process easier. Time and chance happen to us all, and once the opportunity came knocking to start my own business, I had to seize the day by following my passion.”

He admits that starting a business while attending classes at the University of Illinois College of Law was not easy. But, he says “I was able to overcome the challenge with the help of Business Plan Pro. I had this ‘aha!’ moment and I wanted to bring my idea to reality. Business Plan Pro definitely helped me organize my thoughts into a well-written plan which continues to serve me to this day.”

The business got off the ground without a business plan in place, but it wasn’t long before he saw the need for one. “I decided to just plan as I went along but soon realized that a business plan was essential to the success of my business,” said Amoa. “I had a lot of ideas and was full of passion, and the plan actually helped me to keep a steady pace instead of the ‘trying to see what works’ approach.”

Fortunately he was no stranger to business plans. As an undergraduate Business Administration major, Philip had learned all about the plan-writing process. “But the main difference in using Business Plan Pro was that Business Plan Pro had some really helpful formats and tools. The software prompted me to consider things I hadn’t thought about. It was also easy to arrange my ideas in a coherent fashion.”

Extending its reach

LegalSummer.com is continuing to grow. Currently they have started expanding to law schools across the country, giving law students “a fast, effective means of researching and applying for internships/jobs. We have an application tool that saves them a lot of time and we will try to reach as many students as possible.”

logoBIG

For Amoa, who worked for a large corporation prior to starting law school and then becoming an entrepreneur, there is a great deal of satisfaction that comes with owning his own business. “The most exciting part about being an entrepreneur is taking an intangible idea or thought and nurturing it until it becomes a reality. I enjoy the art of putting together a team of skilled people and convincing them that they can bring this intangible idea to life.”

When he graduates from law school later this year, Amoa will have quite a choice of careers to pursue. And future lawyers will have him to thank for making their career stepping stones a little easier to navigate.

During his second year of law school, Philip Amoa began the process of searching for internships. He found the research stressful — he had to locate law firms in specific geographic markets, personalize application documents, and meet important application deadlines, all while trying to prepare for classes the next day. A joking suggestion from a friend to hire a personal assistant planted the seed in his mind to create some way to make the process easier, and a short time later, Amoa launched LegalSummer.com.

Legal Summer combines the use of proprietary technology and an extensive database of law firms to provide the services of a personal assistant to law students who are looking to further their careers, but who have limited time to devote to the search. It helps law students identify possible job/internship opportunities based on location, and gives students the ability to email their customized cover letters and resumes with a single mouse click.

Amoa considers himself a “situational entrepreneur,” and says, “When I started law school and began applying for internships, I realized the process was time-consuming and that was the point I started to think of ways to make the process easier. Time and chance happen to us all, and once the opportunity came knocking to start my own business, I had to seize the day by following my passion.”

He admits that starting a business while attending classes at the University of Illinois College of Law was not easy. But, he says “I was able to overcome the challenge with the help of Business Plan Pro. I had this ‘aha!’ moment and I wanted to bring my idea to reality. Business Plan Pro definitely helped me organize my thoughts into a well-written plan which continues to serve me to this day.”

The business got off the ground without a business plan in place, but it wasn’t long before he saw the need for one. “I decided to just plan as I went along but soon realized that a business plan was essential to the success of my business,” saidAmoa. “I had a lot of ideas and was full of passion, and the plan actually helped me to keep a steady pace instead of the ‘trying to see what works’ approach.”

Fortunately he was no stranger to business plans. As an undergraduate Business Administration major, Philip had learned all about the plan-writing process. “But the main difference in using Business Plan Pro was that Business Plan Pro had some really helpful formats and tools. The software prompted me to consider things I hadn’t thought about. It was also easy to arrange my ideas in a coherent fashion.”

Legal Summer.com is continuing to grow. Currently they have started expanding to law schools across the country, giving law students “a fast, effective means of researching and applying for internships/jobs. We have an application tool that saves them a lot of time and we will try to reach as many students as possible.”

For Amoa, who worked for a large corporation prior to starting law school and then becoming an entrepreneur, there is a great deal of satisfaction that comes with owning his own business. “The most exciting part about being an entrepreneur is taking an intangible idea or thought and nurturing it until it becomes a reality. I enjoy the art of putting together a team of skilled people and convincing them that they can bring this intangible idea to life.”

When he graduates from law school later this year, Amoa will have quite a choice of careers to pursue. And future lawyers will have him to thank for making their career stepping stones a little easier to navigate.

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I’ve seen this happen so many times: the entrepreneur gets the company going and wants financing to push it to the next level, and the investors want the company but not the founder.

It’s not at all unusual, and it’s not as bad as it sounds either. The underlying problem is that growing a company often takes different skills and talents than starting a company.

BusinessWeek.com has a good story on that this week: An Entrepreneur Prepares to Pass the Torch, by Nick Leiber. It’s about Michelle White of Michelle’s Miracle:

It’s a classic dilemma. A first-time entrepreneur creates a thriving company from scratch with the potential to be The Next Big Thing, but her investors thinks she needs an experienced CEO and management team to take it there. They also bet future investors will want to see seasoned leaders in place.

It happens to a lot of people. My favorite example these days is Steve Jobs, who was kicked out of his post at Apple Computer in the 1980s to make way for John Sculley, who ran the company from the late 1980s to the early 90s. Then when Jobs came back to run the company again in the late 1990s, he brought it back from near death to prominence. 

(Photo credit: that photo appears in the businessweek.com story online. You can click it to go to the original.)

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Technology vs Productivity vs Expectations, Oh My — Tim Berry writes about how, as tools change, so do expectations.

Good planning for succession in the family business — Handing down the family business can be done in many ways. Here’s one family’s interesting method for making the transition.

The Easiest Way To Explain the Marketing Process — Marketing expert John Jantsch uses an hourglass analogy (rather than a funnel) to explain the marketing process in simple and practical terms.

Commerce Department on Entrepreneurship Bandwagon — Tim Berry’s take on the recent announcement of the formation of the new Office of Innovation and Entrepreneurship.

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