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October 29, 2004
The Apprentice
The Apprentice - Week 8
Posted by Nadine Heintz at 11:41 AM
The Donald certainly redeemed himself last night. I really enjoyed the marketing challenge. Of course, hindsight is 20/20, but I liked Andy's idea from the get-go. He really redeemed himself, even if he did have to act like a bit of a dictator to improve his image. I think he made the right move by passing on Maria's idea. I didn't quite get her obsession with sex appeal. A Hummer? How would that fit into an ad campaign about joining the NYPD? When Maria called Andy on his cell phone to insist he add sex appeal, I thought he handled it well. Since George was sitting right next to him, that was key. Even though I've never been a huge Andy fan, I was really glad that he stepped up to the plate and won last night's challenge. Yay, Andy!
As for Elizabeth, what can I say? I was totally shocked by her performance last night. I knew she was an overanalyzer and a whiner, but I didn't expect her to have a complete meltdown and give up. When she and Kevin stayed up late working on a better presentation, I was pretty impressed. Then, she totally blew it by letting the team push her around. I'm all for collaborative leadership, but she let them walk all over her.
Last night really made me think about leadership. I was surprised that Apex simply folded after Elizabeth flip-flopped. They mentioned electing a new leader, but they never did. I guess they figured that Elizabeth would be voted off if they lost, so they didn't put much effort into winning the challenge. It seemed like they threw the challenge on purpose just to get her off the team. Elizabeth seemed to think she was being a good leader just because she stuck to her guns. That seems to be the trend this season...project managers assume that if they stick to their guns, no matter how wrong they are, they're doing the right thing. Gee. That sounds kind of like a president I know.
At any rate, I'm excited for next week. Raj blew it again last night with that ridiculous military idea...will he get the boot next? I can't wait to find out.
October 27, 2004
Technology
Text Polling
Posted by at 6:32 PM
With a week before the election, Bush and Kerry are now in a statistical dead heat in national polls by Harris Interactive, Reuters/Zogby and the Washington Post, according to Blooomberg News. In a race this tight, polls can lose some of their utility, since the percentage difference between the candidates is often less than the standard statistical margin of error inherent in political polls, which typically survey between 1,000 and 2,500 people. At the point when a poll becomes this close, is there any way to squeeze out more accurate data?
Enter your cell phone. A company called Orion Information Services (OIS) announced Monday that it is teaming up with EchoStar Communications to create a polling forum that allows large numbers of people to register poll preferences via cell phone text messaging. According to the company, this will enable an unlimited number of voters to register their poll votes, promising to immediately capture the preferences of a dramatically larger segment of the voting population.
"The poll allows DISH Network customers who subscribe to AT&T Wireless, Cingular Wireless or Verizon Wireless to cast a 'vote' for their favorite presidential candidate simply by using the text messaging feature on their cell phones," said Kristian Gjerding, the CEO of OIS.
Could this type of technology represent a valuable advance in political science, further speeding up and democratizing the world of polling and allowing for more accurate information than traditional procedures? Or will it just add yet another voice to the existing cacophony and hasten the descent of the political poll into the realm of so much other useless information?
October 26, 2004
Small Business as Citizen
Posted by at 4:36 PM
Last week, the National Federation of Independent Businesses issued a statement describing its array of initiatives this election year, from voter registration drives to candidate endorsements. NFIB President and CEO Jack Faris pointed to the efforts of the NFIB's SAFE (Save America's Free Enterprise) Trust Political Action Committee in this election cycle as a demonstration of small-business owners' political participation.
"Through an impressive outpouring of volunteers, contributions and, most importantly, grassroots activity," Faris said in the statement, "the voice of small business is being heard loudly in every major election held across the country."
Of course, that voice seems to be delivering a single message: vote Republican. During the 2003-2004 election cycle, the SAFE Trust PAC has contributed $675,890 to Republican candidates nationwide, compared to $11,500 to Democratic candidates and $11,000 to candidates representing other parties, according to TRKC Inc., a service that tracks political donations through Federal Election Commission figures and other data.
Clearly, the GOP is historically the party favored by business (albeit not necessarily by a 59:1 dollar margin). But the greater point may be the civic and political power of small business leaders. By remaining active members of their communities, small business owners have the power to educate people about issues affecting small business and help encourage voter turnout among their employees. And by working together as a group, they have the ability to influence electoral politics on a national level. To quote Faris: "Main Street business owners, their employees and their families are highly concerned with the decisions made on Capitol Hill, and surveys show that small-business owners vote. This year, small-business owners are motivated and organized as never before, and all candidates would be wise to see that Main Street is on the move."
October 22, 2004
The Apprentice
The Apprentice - Week 7
Posted by Nadine Heintz at 10:44 AM
Last night's task was pretty lame compared to the restaurant opening and even the doughnut challenge. I don't have a dog, but I used to when I was a kid, and I never would have let a bunch of people with no experience clip my collie's nails. And if anyone offered to massage him, I would be tempted to call the police, not cough up $20 for the service.
That's why I didn't totally agree with the Donald's decision to fire little Stacy. Yes, she was annoying, yes she was a distraction. But she was the only team member who thought of an alternative to the lame dog grooming idea. I actually liked her idea to dress up the dogs in outfits and take pictures. Sure, the costumes in the pet store were too expensive at $30 a pop, but they could have just bought a couple of items...like a studded collar and a pretty bow...to dress up the dogs for pictures and offer that service in addtion to the washing. I guess it's true that nobody listens to Stacy's ideas because she's annoying. That's her fault. But still, I didn't think she deserved to be fired last night.
As far as I'm concerned, Wes was the real loser. His ideas were boring and he took way too long to execute them. As a leader, he was uninspired. Jennifer was a bit better...at least she thought to expand the range of "spa" services and branch out into two locations. Overall, it was kind of hard to judge people's performances on this challenge. That said, Andy clearly screwed up big time by losing the cell phone. But I'm not quite sure why George's fill-in kept bringing up what would have happened if he had done that on the battlefield. That's a tad dramatic, no?
When is George coming back, anyway? I hate when he goes away on business. The boardroom isn't the same without him. But Carolyn definitely pulled her weight. She's acting a lot tougher this season, maybe because Bill Rancic isn't around? I loved it when she busted Kelly for lying about the number of dogs he had washed. He made a huge mistake by saying he washed eight dogs in a certain time span when Carolyn knew it was only four. The Donald let Kelly off the hook by saying he "exaggerated." To me, it seemed more like an outright lie. I was kind of surprised that Kelly would stoop to that sort of behavior.
Overall, I was pretty disappointed in the latest episode. The Donald seems to be firing people based on personality flaws, not on actual performances. But the team swap was rather revealing. I'm not surprised that Jennifer dumped Stacy and Sandy, but why Maria? She irks me, but she did perform well on the last task. I would have kept her and gotten rid of Elizabeth the whiner instead. As for Wes, I'm surprised he got rid of Kevin. Maybe he's still bitter about last week's pricing debacle, which they were both partially responsible for. I would have kept Kevin and ditched Andy. I bet Wes regretted the decision to keep Andy after the cell phone incident. As for Raj, I guess that was a reasonable decision. I still like Raj because he's dynamic and has good ideas, but he's starting to seem like a loose cannon.
Judging from the previews for next week, it looks like Apex is going to turn on Elizabeth. I can't say I blame them. Hopefully the next challenge will be more exciting than this one!
October 21, 2004
My Favorite Inc. 500 CEO: Rhonda Turner
Posted by Jess McCuan at 10:36 AM
The first in a series of weblogs on the most inspiring CEOs on this year's list from the staff of Inc. magazine
Rhonda Turner's company, The Prosthetic Center, may not be racking up the whopping revenue figures that some on the Inc 500 do. But I guarantee there's no other company like hers on the list. Turner is a rare case, both in her background and in the changes she's pushing for in her field. She's an MBA and a certified orthotist and prosthetist, which, for a female, is unusual enough. Of the 5,000 certified prosthetists in the country, roughly 4,300 are men, and the women in the industry rarely own their own shops. The business of attaching prosthetic limbs is a curious niche in the medical field, mainly because the industry can fluctuate with, for example, the country's involvement in wars that result in limb-less citizens. The prosthetics biz can also be somewhat old-fashioned. When Turner took over The Prosthetic Center from her father, she inherited a business that offered a wide range of services, from fitting and molding new arms and legs to helping patients pick out walkers and wheelchairs. But Turner decided to take a shrewd MBA's look at her father's company, and she immediately pared down. She picked only a handful of products to sell, but she made sure that they were the best the industry had to offer. She began specializing in lower limb work and post-mastectomy breast-fitting. Instead of using a ten-step process to mold and carve a new artificial limb, she invested in computer equipment that let her do it three to four steps, with fewer mistakes.
Turner also brought with her progressive ideas about what her business should be. Prosthetic limbs, she believes, should be a last resort. She noticed that a large number of her patients had lost limbs because their diabetes was so advanced that their wounds didn't heal properly, which resulted in amputation. But rather than simply cater to surgeons who might send amputees her way, Turner and her staff have begun aggressively promoting healthy eating habits and exercise regimens that prevent diabetes in the first place. Though it might seem like such a campaign would translate into fewer patients for her clinic, the patients -- and the local community -- get the message that Turner and her staff genuinely care about the health and well-being of others. Turner also promotes breast cancer awareness programs, and her clinic sets itself apart by offering counseling services for breast cancer survivors.
Turner says she is often moved by her patients' stories. But the breast-cancer survivors are particularly exceptional. "When you help a person walk again, it's pretty amazing. But my ladies are closer to my heart," she says. "When you fit a woman that has gone through so much -- you're giving her back something she's lost. I always think, when you don't get a hug, you didn't do a good job."
October 20, 2004
Miss Management: I Need Some Respect
Posted by Nadine Heintz at 2:50 PM
Each week, Inc. staff writer Nadine Heintz (Miss Management) will help you tackle office etiquette problems both big and small.
Dear Miss Management,
I work in retail. I carry a position that is in the top four of the business. My dilemma is I feel that my manager treats me with a lack of respect. In the past I have gone to this person with ideas and they weren't implemented. A few months later, another associate gave the exact same idea and now it's being implemented. All of the praise goes to this other associate. I feel that too much "visiting" goes on in the office as well, so I do my best to stay out and keep busy elsewhere instead of complaining. Any insight as how to gain respect or not worry about it?
No Respect
Dear No Respect,
Unfortunately, we don't always get credit for our ideas at work. Most of the time, it's unintentional. Don't jump to conclusions or take it personally. Perhaps the timing was off the first time you made a suggestion to your manager, and she forgot that you even had the idea by the time she implemented it later on. That said, you shouldn't just ignore the problem if it's happened more than once, and if it's bugging you. But you can't just blurt out your dismay with the situation without seeming needy or paranoid (which I don't think you are, but your boss might unless you proceed with caution.) Calmly ask for a private meeting in her office, then ask her for tips on how you could improve your pitches. Point out (nicely!) that she turned down your idea, only to implement it later on, and that you'd like to hone your proposals to make them more appealing. By emphasizing your desire for self-improvement, you'll be able to bring up the fact that you had the idea without seeming like a mere whiner.
The "visiting" going on in the office is a stickier situation, however. If being one of the top four managers at your company means that you're doling out work to employees, you might want to evaluate their workloads and figure out if they have too much time on their hands. You might even bring it up at a meeting with the other top dogs. But, chances are, your co-workers are just blowing off some steam, which is okay as long as they're also doing their jobs well. Asking people to stop "visiting" won't win you any friends in the workplace. You already seem unhappy with your situation and attracting the ire of your colleagues will only make things worse. If the chatting is really distracting, my advice is to try harder to ignore it or request an office in a quieter location. Hey, you might even try joining in once in a while...it might be just the lighthearted touch you need to get through the day.
Miss Management
Have a dilemma for Miss Management? Send her an e-mail and check back here Tuesdays for the answer.
Diary of a Start-up
Diary of a Start-up: On the Road
Posted by Victoria Keddie at 2:42 PM
This is the second in an series of weblogs from one of the owners of redwagon, a business that makes and sells hand-crafted fashion accessories and clothing. Check back often for more from-the-trenches viewpoints on starting and building a business.
We recently had a fashion show in Philadelphia at a well-known art collective space showcasing our new fall line. The theme was Puss & Boots and consisted of leather belts, skirts, coin purses, and jewelry. It was, to say the least, a memorable experience. It is our first fashion show since our company began and in the city that three of us went to school.
A friend and co-curator at the space put together a show with music and fashion on a Sunday afternoon. The show itself was disorganized, the attendees were questionable, and most of the fashion contributors backed out last minute. Needless to say, we were there, and became the instant highlight of the event.
We had under two weeks to put a complete line together from our initial designs. With one sewing machine, and too little time, we made prototypes for all of our designs--and ran into a few problems. Our member out in LA sent some of her items for the show, and they were lost in the mail (eventually returned to sender), so we had no representation from her at the show. Also, we had major trouble locating models for the event in such short notice. Kelli headed the styling, I took over make up, and Hillary became a model. We had three models in total and all with a few runs. It was a bit tricky timing the girls, but it worked out extremely well. I brought some of our t-shirts on hand to sell, and we quickly sold out of them. We also had cupcakes to share, which the crowd loved.
In the end, it turned out pretty well. It could have been more organized, we could have had a more suitable audience-- but we proved that we could pull off something like that in two weeks with much success and much learned.
October 19, 2004
Planning for Disaster
Posted by Nicole Gull at 3:12 PM
When Hurricane Charley hit Charlotte County, Florida, Charles Brown, president of Charlotte State Bank was prepared. He and his employees had charted out employee call lists, invested in an additional generator and plotted disaster response plans well before the storm wiped his town of electricity and basic supplies such as food and water. So it wasn't a shock when all of Brown's employees reported to work the morning following the storm. I wonder how many business owners reading this site could say the same.
Likely not many. Or so says Secretary Tom Ridge, who heads the Department of Homeland Security. This morning I was one of a handful of reporters invited to chat with Ridge about the department's new Ready Business campaign. Ridge encouraged business owners to follow Brown's lead and be proactive in planning for disaster -- especially in a post-September 11th world. The campaign is designed, Ridge says, to warn business owners to think ahead. Business owners need to work with employees and local first responders, he says, to coordinate efforts should a disaster -- natural or otherwise -- arise. He stressed that disaster plans needn't be expensive or cause unnecessary panic at a business or in a community. The idea is to be ready to take care of the company and its employees no matter the circumstances.
According to Brown, with whom I also recently spoke, his plan had been in place for months before the hurricane arrived at his door. He and the senior officers at Charlotte State Bank were more than prepared for Charley. The bank even subsidized a general store, where employees could pick up incidentals such as milk and eggs free of charge to take home to their families. Mind you, Florida is no stranger to tropical storms -- so it seems perfectly reasonable that Brown plan for something that torments his state year after year. For the president of a manufacturing firm in New Hampshire? Maybe not so much. Perhaps that business owner may want to spend his company's "extra" cash on new equipment his employees use daily or a developing a new arm of the company to bring in new business. But, as Ridge points out, planning may mean different things to different businesses depending on budgetary constraints. Yet, he insists it should be an integral part of doing business now that terror attacks have joined the list of crises which may have previously only included tornadoes and earthquakes.
The government has set up a website (www.ready.gov) laying out several ideas of how to prepare for a dangerous situation. For example, Ridge says, it might be a good idea to review your insurance plan regularly, take inventory, design an evacuation plan or even assemble emergency kits with duct tape and extra clothing.
October 15, 2004
The Apprentice
The Apprentice -- Week 6
Posted by Nadine Heintz at 2:22 PM
I'm really glad that the women FINALLY won a challenge last night. I must admit that I was skeptical at first, especially when Maria started bragging about her home ec minor. I'm not desparaging home ec classes in general. But I didn't realize you could minor in that in college! What are the classes like? At any rate, Maria did a great job in last night's episode. Her instinct to hire the lower-priced, industry-savvy designer proved correct. And I liked the way she handled Elizabeth: get her away from the group, but make her feel important.
That proved to be a wise move, considering that Elizabeth started overanalyzing almost immediately when she balked on hiring the more reasonably-priced designer. Boy, was she wrong. Those low prices turned out to be the main reason for the Apex victory. Thankfully, Maria took control, made the decision she felt good about, and sent Elizabeth away for the rest of the day. That ALMOST makes up for her ridiculous behavior in the previous episodes. But the jury's still out on Maria. As for Elizabeth, I predict that she'll be fired within the next two episodes.
Unlike Maria, John was awful last night. Kelly was right when he said he acted more like the PM than John did. First of all, Kelly blew me away when he started sketching outfits. An army guy who also designs clothes? Is there anything he can't do? Raj really disappointed me last night...I was definitely having a Sam flashback when he kept annoying Ilsa. He really lost it. Thank goodness Kelly stepped in and told him to get a grip, as John looked on sheepishly from afar. I hope Raj goes back to his old ways next week.
Well, John was pretty nervy to bring Andy and Kevin into the boardroom with him. Okay, so Kevin did screw up royally by jacking up the prices on the clothes, but Wes was right there with him. And, as the Donald pointed out, John should have helped out with the crucial task of pricing the items rather than hanging out with the models. Come on, John! Plus, I don't understand why people keep using Andy's age as a reason for firing him. John is only a year older, after all! That said, Andy didn't do much last night, or any other night. I don't really understand why the Donald seems convinced that Andy is so great. I just don't see it. If anyone else can shed some light on that situation, please do.
Despite bad performances from several of the men, John was the clear choice for last night. He had no control over the team. The one decision he did make (to hire Ilsa) turned out to be wrong. I liked her designs, but they were too couture for the challenge. But I don't blame Ilsa for this one...she told the guys what she would charge, and they doubled everything. It's not your fault, Ilsa!
Next week should be interesting. It looks like the Donald will be pulling the old switcheroo. And just when the women are hitting their stride. Oh well. I guess that's how it goes. Hmmm...I'd sure like to see Kelly put Elizabeth in her place. And maybe the women will help bring Andy out of his shell. A romance between fashionistas Raj and Maria? Only time will tell.
October 14, 2004
Miss Management: Climate Control
Posted by Nadine Heintz at 4:02 PM
Each week, Inc. staff writer Nadine Heintz (Miss Management) will help you tackle office etiquette problems both big and small.
Dear Miss Management,
I work in an office building where each floor has control of its own thermostat. Several people on my floor are constantly complaining that they are cold, while several others of us are always too warm. I dress in layers to try to combat this problem, but there are only so many layers that you can remove before your wardrobe becomes unprofessional! In the winter I can open my window to let some cool air in (until the draft becomes too much to deal with), but in the summer time it's unbearable. The people who complain that they are cold each have space heaters in their offices year round, but rather than turn them on, they often just adjust the thermostat that controls the temperature for the floor. Is there a temperature that is commonly considered a reasonable temperature for an office building? I would like to suggest that we set the thermostat to this temperature and leave it there, but don't know what temperature to suggest.
Sweltering in Pittsburgh
Dear SIP,
Take solace in the fact that I've had similar problems at every office I've ever worked in, and have spent a lot of time pondering the office temperature conundrum. In the summer, it's freezing. In the winter, it's like a tropical rain forest. Some offices have been worse than others, but all have been less than ideal. I think a big part of the problem is that it's difficult to regulate temperatures in large office buildings (and apartments, for that matter). Heating systems in older buildings seem to be a mere step above coal burning stoves. Chances are good that your company isn't about to pony up for an updated system. Luckily, there are some ways to deal with the problem. At my last job, the office manager was the only person allowed to touch the thermostat. At the time, it seemed a bit dictatorial. But now I see the wisdom in that edict. Ask one fair-minded person in your office (probably your boss or office manager) to take charge of the controls. Place a note by the thermostat asking people to consult with the boss before changing the temperature. Hopefully, whoever is in charge will keep the thermostat firmly planted in the middle range...68 to 70 degrees should be sufficient. Inevitably, the people who are always cold will opt to turn on their space heaters rather than pester the boss. As for overheaters like you, keep wearing layers and cracking the windows when needed. Of course, during the summer months, use a desk fan. Now get back to work!
Have a dilemma for Miss Management? Send her an e-mail and check back here Tuesdays for the answer.
Up For Debate
Posted by at 3:53 PM
Last night, two ridiculously rich rivals went at it, as the media relentlessly over hyped every machination, every physical nuance, every utterance, and every detail of a contest between the two "favorites" even though there are scores of citizens across the country who could care less about either one of them...but enough about Yankees/Red Sox, there was a presidential debate for Pedro's sake.
(The previous punch line is in memory of a truly great - and always trustworthy -- American worthy of everyone's respect. Godspeed, Mr. Dangerfield.)
Back to the debates. I'm not here to say who "won," and last time I checked debates aren't sporting events, there is no final score, well other than that White House mailing address. (Although how great would it be if one of the candidates called the other one his "Daddy" after it was over?) The three debates helped John Kerry more than George Bush in terms of public polling, but they basically ended up where they started, in a dead heat. That's good by me because offshore gaming websites are currently taking electoral college parlays.
So after three debates and months of campaigning, what do you think? Is one candidate THE candidate for entrepreneurs? Are you sure about that? Our current Inc.com poll about who would make the best CEO is running 88% GOP (Bush and Cheney are counted separate), but maybe that's because they both have business experience. Or maybe not, maybe Inc. and the NRA are one in the same? I find it hard to believe that in a country as red/blue as this one, basically divided in half, that Inc. has an 88% audience of any kind, but maybe I'm wrong. If so, why? What was said in the debate, or in the platform -- RELATED TO ENTREPRENEURSHIP - by either candidate that wrapped up your support? (Please folks, let's keep the cultural issues at bay for one blog).
More intriguingly, is anyone out there still on the fence? This could be your chance to persuade a fellow entrepreneur...let's hear it my fellow Americans. Who are you going to vote for on November 2nd for the office of President of the United States?
After all, it's two weeks from Tuesday.
Will the Happy Entrepreneur Please Stand Up?
Posted by Keith Ferrazzi at 8:41 AM
I was recently teaching first-year students at the UCLA Anderson School of Management how to build relationships for career growth. As in my recent column on Inc.com's Sales & Networking Resource Center, I discussed "currencies," or the unique knowledge, talents, interests, connections, etc., that each of us possess, things we can give to others to build relationships. To show the students that everyone has currencies, I facilitated a quick exercise. Here's how it goes.
I ask, "If you've worked in investment banking, please stand up." Some stand up and some stay sitting. Then I point out two things that are right before their eyes. 1) Anyone sitting down who wants to go into investment banking now knows who they should get to know -- for job-hunting help, career war stories, etc. 2) Everyone standing now knows one of their currencies, something they can contribute to the success of others who don't have the same thing -- in this case, specialized work experience.
Finally, I ask, "Now, who wants to be in investment banking? Please stand up." Usually, some of the former investment bankers stay standing, some sit down, and some newbies stand up for the first time. Now those standing can literally see who they can partner with to be more successful in their classes and their job searches. I do this very quick, no-brainer exercise for all kinds of special career interests -- entertainment, consulting, venture capital, non-profits, etc. It was shocking that, with the exception of real estate, each iteration of the exercise produced consistent results. Across the board, at least 75% (several times 100%!) of the people who had previously been in an industry sat down during part 2 of the exercise, claiming that they didn't want to be in that industry again.
For the rest of the day, I pondered: Was it just the result of young people disenchanted by their first jobs? Or was there something more fundamental there?
Then I thought about myself. There were a lot of times in my life when I would have sat down. Interestingly enough, the first time I would have sat down was when I was at Deloitte, when I chose to leave my CMO post there to be CMO of Starwood. But to be perfectly honest, in retrospect, Deloitte was one of the most wonderful partnership environments I've ever worked in. So my "taking a seat" then was clearly a situation where youth led to impatience and not appreciating what I didn't realize I had. And in subsequent jobs, while I met with success, I didn't necessarily find joy.
Today, on the other hand, since I have become an entrepreneur and started my own business, I'm finding both extraordinary success and surprising joy. I can't imagine ever going back to a job or career or company where I wasn't able to find this level of excitement and personal satisfaction and motivation. Now I wouldn't sit down for the world.
If I asked of you what I asked of those UCLA b-school students, "If you want to do [what you did yesterday], please stand up," what would you do?
October 13, 2004
Diary of a Start-up
Diary of a Start-Up: Redwagon
Posted by Victoria Keddie at 11:05 AM
This is the first in an series of weblogs from one of the owners of redwagon, a business that makes and sells hand-crafted fashion accessories and clothing. Check back often for more from-the-trenches viewpoints on starting and building a business.
This week's entry: Where Do We Go Next?
We are a company made up of four gals, three in NYC and one in LA. We started this company with the idea that a girl doesn't have to get knee deep in debt to have some quality hand-crafted clothing and accessories. So we founded redwagon in January 2004, specializing in accessories, jewelry, and clothing. We ventured from boutique to boutique, offering our line in a fully stuffed vanity suitcase. Luckily both our idea and our products began to take notice.
Hear we are nine months later, with orders, a website, and our line of merchandise in boutiques spanning LA, NYC, Philadelphia, and San Francisco. Needless to say, we are a little overwhelmed and in over our heads with the business aspects of the company: Do we incorporate? Do we copyright? Do we enlist manufacturers and investors? We bought Incorporate Your Business for Dummies, and got a vendor's license and retail certificate, and that's as far as we've gotten at the moment.
With the company growing as it has, it seems that now the four of us have slightly--and not so slightly--different views of what the company should be. What began as randomly creating excellent pieces from moderately priced fabrics and scrap leather for appliqués has turned into a highly tailored line of all leather. This has put redwagon in a position of losing lead-time to get the merchandise into the boutiques as well as losing our value prices.
What happened to that idea that we started this company for? Instead we are emulating a high-end fashion house with absolutely no budget or time to make the items we have designed. So now the customers we intended to sell our fashions to cannot afford our line. At this point we need to figure out where we're headed and what steps will be right for our company's success--and what kind of success we're actually looking for!
October 12, 2004
Innovative Technical Solutions
Posted by Carole Matthews at 12:40 PM
Today's Inc. 500 company is:
Innovative Technical Solutions
Location: Honolulu
Total Growth: 376%
2003 Revenue: $11.8 million
Employees: 80
Come work for James Karins and he'll promise you paradise, literally. Located in Honolulu, his company focuses on R&D for satellite imaging for the military and medical imaging technology for a large medical researcher. Tax breaks and incentives from the state have helped the company's growth and enabled it to end Hawaii's 15-year drought on the Inc. 500. ITS also offers five-weeks' paid vacation, 100% medical coverage for employees and their families, and a profit-sharing program. "I figured the indoor climate should match the outdoors," says Karins.
October 11, 2004
Today's Inc. 500 Company
Posted by Carole Matthews at 9:47 AM
Brownwood Acres Foods
Location: Eastport, Mich.
Total Growth: 691%
2003 Revenue: $2.3 million
Employees: 5
This family business began as a honey stand during the sugar rationing of World War II. Over generations, the de Tar family built the company into a specialty food and gift merchant, producing homemade products from neighboring orchards--including jams, cherry salsa, cherry barbeque sauce, and its famous cherry butter (which it claims was the first of its kind). In light of recent medical interest in antioxidants, current president Steve de Tar has revamped the business into a nutraceutical manufacturer. Its tart cherry, pomegranate, and blueberry juice concentrates are sold in Kroger grocery stores, as well as in health food stores and through the company's website. The firm also sells a more highly concentrated, unsweetened (and low-carb) cherry and blueberry juice in capsule form.
October 10, 2004
Contours Express Makes 2004 Inc. 500
Posted by Carole Matthews at 10:11 AM
Contours Express
Location: Nicholasville, Ky.
Total Growth: 1,418%
2003 Revenue: $4.6 million
Employees: 5
Daren Carter started this women's fitness center franchise chain with $10,000 of his personal savings and no outside funding. The inspiration for the business came from his mother's dislike of the intimidating machines and environment at a local gym. Carter commissioned the design of smaller equipment and a special 29-minute workout, and then opened his own club for women. Today, he has more than 350 franchises in 32 states and has been opening new franchises at a rate of one every other day.
Click here to see more 2004 Inc. 500 Countdown profiles.
October 9, 2004
Today's Inc. 500 Company
Posted by Carole Matthews at 10:40 AM
Lenco Marine
Location: Stuart, Fla.
Total Growth: 446%
2003 Revenue: $5.7 million
Employees: 34
Along with trolling motors and hatch lifts, Lenco Marine makes trim tabs, which help power boats cut through water. Customers include boat manufacturers like Boston Whaler and stores like Boaters World. Partners Richard DeVito and Sam Mullinax attribute the growth to technical innovation and customer service.
October 8, 2004
The Apprentice
The Apprentice- Week 5
Posted by Bobbie Gossage at 12:16 PM
Sorry, guys. Nadine is out this week, so you'll have to settle for me today. But before I get started, I'd just like to say that doing a lap around Arthur Ashe Stadium in your underwear while Anna Kournikova laughs and points and John McEnroe* lobs tennis balls at your head sounds like the stuff of nightmares. More on that later.
In last night's episode, The Donald told the teams they would have to pick a product at QVC, set the price for it, and sell it on air. The team with the highest gross sales would win. Because the losing ladies were short-handed once again, Trump told them they would have a new teammate and project manager, someone he had grown to "respect": Pamela. (Why? Because she knew what creme fraiche was?)
When she was on the men's team, Pamela had a way of making the guys look feminine. From her first moment on the women's team, she treated them like a class of unruly first-graders that needed to be "whipped into shape." Before they'd had a chance to really talk, she started lecturing them about how she doesn't want to hear anyone complain that "that's not how we did it before. Obviously, what you were doing before wasn't f***ing working." Ivana complained that the downtrodden team needed a pep talk, not a lecture.
At QVC, the men chose an Italian panini grill to sell while the women went with a weird white sponge called It Works! that can apparently scrub crayon off of wallpaper and wood. Pricing their product was a big issue for both of the teams. In a cutaway, The Donald gave the viewers at home a lesson in economics. Something along the lines of, "If you price it too high people buy less, and if you price it less they buy more." Wow. Now we all know why he's the millionaire. Then, from the back of a limo, Trump was shown telling someone named Bill (Rancic, perhaps?) over a cell phone that if he failed his "ass is grass." Why anyone is vying to work for this man is beyond me.
Over at QVC, teams were struggling with price. Stacy R. said $19.99 might be good (for 30 sponges), but didn't feel confident about setting the price herself. After barking at her to pick a number and stick to it, Pamela set the number at around $30... way too much for sponges. The men's team had a similar discussion when Kelly insisted on $71 for the grill. He argued that if they pushed up the price a little, they could make a few more dollars on each sale. Raj very astutely argued that shoppers might have trouble crossing the mental threshold of $70, and that $69.99 might be more appealing. He was shot down by team leader, Chris.
When it came to setting up for the on-camera demonstration, the women's team had a few snags. Overall, I think one of the main problems is that the team is so used to losing that the ladies sometimes focus more on covering their backs for the boardroom than winning the task. Stacy went a little overboard with her task of handling the team's legal issues, but Pamela demeaned her entire contribution by gruffly chastising her attention to detail. Maria and Jennifer asked to be the on-air talent, and everyone seemed surprised when they turned on the cameras and Maria started awkwardly blinking and flailing her arms like she was drowning. It was decided that Jennifer should do the talking. (Duh!)
I felt very sorry for Maria when Elizabeth called to Ivana over the walkie-talkie, so loudly that everyone on set could hear, saying, "Tell Jennifer she was absolutely perfect. Pamela's coming down to talk to Maria. Don't let Maria say anything." Maria sat on the couch, clearly wounded. She had said earlier that public speaking was her strong suit. I was very impressed that she didn't pull an Elizabeth and burst into tears. The comment hurt her, but she swallowed her pride a bit and still went on camera and smiled and nodded. And she refrained from throwing a package of It Works! sponges at Pamela's head.
In the end, Jennifer did a good job demonstrating the sponge, but the price was just too high. The men were so-so on camera, but were blessed with a caller who called their product the best grill she'd ever used. Both teams sold more than $15,000 worth of merchandise, but the women lost by $10. Painful. Pamela was in shock.
For their 10-spot victory, the men were awarded a play date with Anna Kournikova and John McEnroe*. Playing doubles against those two, Andy, a tennis buff, was living out his childhood fantasies. Raj, on the other hand, attempted to live out a different kind of fantasy. He asked Anna Kournikova for a date. "What makes you think I would want to go on a date with you?" she said, laughing. She then challenged him to a game: if he could return one of five serves, she would go on a date. If he couldn't, he had to do a dare. As we all know, Kournikova isn't famous for her tennis abilities, so I thought Raj had a shot. But he failed miserably. And she made him run around the stadium in his undies while all of them laughed and hit tennis balls at him. This is what happens when you ask out Anna Kournikova. Consider yourself warned.
Back at Trump Tower, the women were ready for another trip to the boardroom. Sandy said Pamela should go for setting the price too high. (What was Sandy doing on this task, anyway?) In the end, Pamela dug her own grave by calling the outcome "a tie." That set George off, though he still said she was a good leader. Carolyn disagreed, saying Pamela was confident, but wrong. I think she was being nice. Pamela chose Stacy and Maria to go into the boardroom with her for reasons that didn't hold a lot of water. In the end, The Donald fired Pamela for setting the wrong price, and the women lost another teammate.
At this point, I am beginning to doubt if any of them can lead their team to a victory.
*Editor's Note: My apologies to Pete Sampras. Only I would confuse him with John McEnroe!
October 6, 2004
Sales and Marketing
What Would You Do If...
Posted by Bobbie Gossage at 5:01 PM
As you might have guessed, the poor residents, companies, and state government of Florida are trying to rebuild the state after the chain of hurricanes that hit this summer. So far, three of the four major theme parks have been reopened, and the Secretary of the Department of Environmental Protection is practically begging the tourists to return. What would you do to attract tourists back to Florida if you were in charge?
"Nobody Asked Me, But..."
Posted by Adam Hanft at 3:31 PM
The Big Boys Need to Be a Little Nicer to Small Business
It's no secret that big business wants to win the hearts of small
business. It's why America's giants -- banks, technology companies,
financial services conglomerates -- advertise on Inc.com and in our
hard-copy, non-virtual version.
They know small business is the growth engine of our economy, the place
where innovation creates jobs and ideas turn into action while big
companies are first turning on the lights in the morning.
But what has big business done to earn the trust of small business? Not
much. Every entrepreneur knows how hard it is to get the attention of
larger companies when it comes to selling their products and services.
It's frustrating, time-consuming and usually futile.
So while a large bank may launch a marketing campaign welcoming the
little guy, the little guy who is a software developer or a janitorial
services company or a website company knows how resistant big banks --
and big anything, for that matter -- are to "new vendors."
My suggestion: if the Big Boys want to win the heart and soul of small
business, why don't they prove they are small business supporters
themselves? How about a list on their website of the entrepreneurs they
give business to, encourage and develop?
How about special programs to make it easier -- not harder -- for small
companies to be successful business partners of theirs?
Proving that you are part of the small business family is the best way
to convince other small business that you deserve their loyalty.
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