How long after I quit smoking are there benefits?
a) 20 minutes: after a few minutes, your blood pressure returns to normal levels
b) 2 days: your sense of smell and taste return, while your risk of having a heart attack begins to decrease
c) 3 days: the bronchial tubes relax and your overall energy levels begin to increase; you can walk up the stairs again!
d) 1 year: the probability of having a heart attack drops by half
e) 5 years: the likelihood of suffering a stroke returns to that of a non-smoker
f) 10 years: your odds of getting lung cancer return to non-smoker status
g) 15 years: your risk of a heart attack returns to non-smoker levels
Wednesday, August 29, 2007
Friday, August 24, 2007
Snippets from Inc.
May, 2007
Search For Tomorrow: fledgling companies taking on Google
-The technologists: www.hakia.com and www. powerset.com, using "natural language" technologies
-The people-powered: www.chacha.com and search.wikia.com, using "guides" to help stumped online searchers
-The specializers: www.toptenwholesale.com, www.zillow.com, and www.kayak.com, "vertical search" specializing in a topic or industry and using rudimentary search means
-The comeback kids: www.yahoo.com, www.ask.com, and www.live.com, rebranding to make themselves more attractive to advertisers if Google's keyword prices continue to rise
-The Adsense assailants: www.contextweb.com and www.quigo.com, the Adsense network allows website owners to display Google ads in return for a share of revenue, is responsible for 39% of Google's revenue ($4.2B)
How to vet a board member: here's how to get the right person in the chair with smart questions
i) "What will it take for my company to grow from $10M to $100M?"
-Insert your own sales figures, but the point is to find out how much a candidate knows about building a business and how he'd take yours to the next level. His ideas may be different from yours, which is fine. Good directors challenge your thinking and help you hone your strategy.
ii) "Why do you want to be on my board?"
-A retired CEO might enjoy mentoring up-and-comers. Other candidates may see it as a chance to expand their networks or as a smart career move. All of these answers are legit. Take a pass if someone only talks about how much money he stands to make. "Upside shouldn't be one of the top reasons," says Clark Waterfall, managing director at BSG Team Ventures, an executive search firm in Boston.
iii) "Are you on any other boards?"
-Be wary of candidates who collect board seats like candy. Conscientious directors seldom sit on more than three or four boards at a time.
iv) "How do you expect to be paid?"
-Directors generally spend at least 25 to 30 hours a year participating in meetings, phone calls, and committee work. In return, according to Waterfall, a private company with less than $25M in revenue typically offers 0.15 to 1 percent of equity, meeting fees ranging from $750 to $1,250, plus travel expenses. Tack on an annual stipend of about $2,500 to $25,000 if your business does more than $25M a year.
v) "Do you require D&O insurance?"
-Directors and officers insurance protects corporate officers and board directors if a business get sued, and you'll have a hard time luring A-list candidates without it. A D&O policy for a small company runs about $10,000 to $50,000 a year, says Waterfall, so if you're not willing to pay for it, tell a candidate up front. It could be a deal breaker, especially for individuals with high net worth.
vi) "Are you willing to be evaluated every year?"
-Your board members should be reviewed like everyone else in the company. A candidate who plans to take his role seriously won't have a problem with it. For early-stage companies, Waterfall suggests that outside directors serve a one-year term at first, then be re-elected, perhaps for a longer term, if the board is working well together.
Travel: easy come, easy go
-The security line fast track:
--Clear (www.flyclear.com) has express security lanes at five airports in New York, Cincinnati, Indianapolis, Orlando, and San Jose. They'll need four fingerprints and an iris scan. It claims to cut average wait times down to a few minutes.
--Fast Lane Option (www.fastlaneoption.com) will be creating express lines later this year.
-The best of first class:
--Singapore Airlines (Givenchy pajamas), Virgin Atlantic (swinger-lounge/massage parlour), Emirate Airlines (private suites with closing doors and minibar), and Qatar Airways (separate terminal for first- and business-class passengers with a jacuzzi and saunas). Compare the best of the best with Skytrax (www.airlinequality.com).
-Websites that can help you search for a good seat:
--www.seatguru.com: spellbinding details about every nook and cranny of seats on a wide array of carriers. It eve lists which plane models have electrical outlets, TVs, and earphone jacks.
--www.boardfirst.com: if you're flying Southwest Airlines, spend $5 on this site to reserve an A pass, which allows you to be first in line to jockey for a seat.
--www.webflyer.com: helps you get the most out of your frequent-flyer miles and find the best way to swap between programs.
--www.flightstats.com: lists the percentage of delayed and cancel flights by airport and carrier. Also estimates when a particular flight will really take off and land.
-Five ways to lighten your load
--Shoes go first: pick one or two pairs of versatile footwear and coordinate your clothing with them.
--Pack by color: base your wardrobe for each trip on one set of colors so you can mix and match. Bonus: take at least one suit jacket that can be worn with jeans.
--Buy it when you get there: you know exactly where to shop for anything from toothpaste to a tasteful new suit.
--Use the hotel laundry service: most you really need is a few days' worth of clothing.
--Ditch the laptop: for short trips, a PDA will usually cut it. It you have a lot of typing to do, pack a folding keyboard.
-Door-to-door luggage delivery services:
--Luggage Free: typically offers refunds for late shipments ($220 per bag)
--Luggage Forward: offers a refund and up to $500 if your domestic shipment doesn't arrive on the right day ($305)
--Luggage Express: part of a large logistics company, so it can offer low rates ($153)
--SkyCap International: bundles FedEx shipping with its own customer service ($159)
-Snacks on a plane:
--www.dietdetective.com/content/view/1916 lists the caloric content of the snacks offered on six of the largest domestic carriers.
Top 20 Boomtowns, Large Cities (Employment base of 450,000)
i. Las Vegas-Paradise, Nev.: manufacturing, business services, leisure
ii. Phoenix-Mesa-Scottsdale, Ariz.: retail, business services, leisure
iii. Fort Lauderdale, Fla.: business and financial services, education and health
iv. Orlando-Kissimmee, Fla.: business and financial services, wholesale, leisure
v. Riverside-San Bernardino-Ontario, Calif.: retail, business services, transportation
vi. West Palm Beach-Boca Raton, Fla.: business services, leisure, transportation
vii. Raleigh-Cary, N.C.: education and health, government
viii. Honolulu, Hawaii: information, transportation
ix. Northern Virginia: business services, retail
x. Salt Lake City, Utah: business services, education and health
xi. Tampa-St. Petersburg-Clearwater, Fla.: business services, leisure, retail
xii. Jacksonville, Fla.
xiii. Washington, DC-Arlington-Alexandria, Va.
xiv. Nashville, Tenn.
xv. Sacramento, Calif.
xvi. Austin-Round Rock, Texas
xvii. Houston-Sugar Land-Baytown, Texas
xviii. Seattle-Bellevue-Everett, Wash.
xix. Bethesda-Gaithersburg-Frederick, Md.
xx. Portland-Beaverton, Oreg.-Vancouver, Wash.
Top 20 Boomtowns, Midsize Cities (Employment base of 150,000-449,999)
1. Cape Coral-Fort Myers, Fla.
2. McAllen-Edinburg-Mission, Texas
3. Sarasota-Bradenton-Venice, Fla.
4. Fayetteville-Springdale-Rogers, Ark.
5. Deltona-Daytona Beach-Ormond Beach, Fla.
6. Lakeland, Fla.
7. Provo-Orem, Utah
8. Reno-Sparks, Nev.
9. Boise City-Nampa, Idaho
10. Savannah, Ga.
11. Bakersfield, Calif.
12. Tucson, Ariz.
13. Baton Rouge, La.
14. Tacoma, Wash.
15. Charleston-North Charleston, S.C.
16. Ogden-Clearfield, Utah
17. Pensacola-Ferry Pass-Brent, Fla.
18. Palm Bay-Melbourne-Titusville, Fla.
19. Albuquerque, N.Mex.
20. Springfield, Mo.
Top 20 Boomtowns, Small Cities (Employment base less than 150,000)
1. St. George, Utah
2. Yuma, Ariz.
3. Prescott, Ariz.
4. Naples-Marco Island, Fla.
5. Morgantown, W.Va.
6. Bend, Oreg.
7. Laredo, Texas
8. Port St. Lucie-Fort Pierce, Fla.
9. Las Cruces, N.Mex.
10. Coeur d'Alene, Idaho
11. Casper, Wyo.
12. Midland, Texas
13. Fort Walton Beach-Crestview-Destin, Fla.
14. Myrtle Beach-Conway-North Myrtle Beach, S.C.
15. Dubuque, Iowa
16. Dover, Del.
17. Ocala, Fla.
18. Sebastian-Vero Beach, Fla.
19. Auburn-Opelika, Ala.
20. Idaho Falls, Idaho
June, 2007
A boss's guide to buying flowers
Get well:
-tip 1: deliver an bouquet to a home address as some hospitals have rules against fresh flowers
-best picks: sunflowers, gerbera daisies, and hyacinths
-tip 2: arrangements should be big and bright, and easy to care for
Apology:
-tip 1: stick with the understated and pared down, avoid bright colors. An over-the-top bouquet can look like you're trying to bribe someone.
-tip 2: always include a handwritten card
-best picks: orchids because they are elegant, simple, relatively neutral, and expensive-looking
Client thank-you:
-tip 1: think less to impress, get the wow factor with the quality of blooms, not the quantity
-best picks: careful selection of a few exotic or harder-to-find blooms such as frilled tulips, peonies, or dendrobium orchids
Birthday:
-tip 1: big and showy, sent directly to the person's desk
-best picks: lilies because they're large and come in attention-grabbing colors like bright yellow and orange
Sympathy:
-tip 1: deliver to a home address, delivery to a desk may draw unwanted attention
-tip 2: always include a handwritten card
-best picks: classic white calla lillies tend to be too mournful, so opt for irises, tulips, or freesias in gentle hues like blue, purple and pale yellow
Company milestone:
-tip 1: go for something big and extravagant; the flowers should attract the level of attention that this exciting achievement deserves
-best picks: arrangement of one kind of premium flower; too dramatic for other occasions, but fits the bill here. Try cymbidium orchids, irises, or stargazer lilies
New baby:
-tip 1: don't worry about finding pink or blue, the new parents will have more than enough of these. Just stick with vibrant, warm colors
-best picks: mix of seasonal flowers; spring and summer flowers like tulips and hydrangeas; in the fall, dahlias or assorted berries
Greeting a client (lesson from a professional driver)
a) The sign: hold it at chest height; write the client's name (last name only) in black felt-tipped marker; bring a clipboard to hold behind the sign so it doesn't flutter in the wind; close up your o's, sloppiness is an insult to the customer; when the client is in the car, place the sign neatly back in your briefcase, never fold or dispose of the sign in front of the customer.
b) The briefcase: carry extra signs (paper and laminated), and an extra marker
c) The shoes: keep them well-polished; people notice shoes
d) The greeting: look your client directly in the eye and prepare to greet with a firm handshake; be aware that some people don't like to shake hands, always be reading your client's mood
July, 2007
Funding terminology
-Ratchets: automatically rewards extra shares to prevent your original investors from having their stakes diluted. If you've given these to seed investors, get them to give them up, or forget about raising VC funds.
-Preemptive rights: related to ratchets, preemptive rights give investors the option to buy more shares during a subsequent round, thus maintaining a large stake. Remind friends and family investors that small is beautiful. Dilution is not necessarily a bad thing if the company's overall value increases.
-Liquidation preference: shareholders with this status get paid first in the event that the company is sold or goes bankrupt. This will decrease your chance of a windfall and put off VCs, who almost always demand that they get paid before your seed investors do.
-Veto rights: these give friends and family the right to veto a subsequent investment. Most professional investors will force you to waive veto rights before beginning negotiations.
-Board seats: it's okay to create a board that contains seed investors, but friends and family should understand that they'll probably have to give up their seats in the event of a deal.
How to find the best market research firm for your company: Questions to ask
i) Have you worked with businesses like mine? Researchers tend to specialize by industry and by client size, so ask for a list of references and look to see if it includes your peers. If a firm has done work for a director competitor, however, make it sign a nondisclosure agreement.
ii) What methodology will you use and why? Researchers collect data in three ways: through face-to-face interviews, over the phone, and online. If you are looking for answers to basic questions about your customers, then an online survey, which costs only pennies per respondent, is right for you. If your company is entering a new market and you want qualitative research on your new customer base, then a researcher may recommend face-to-face interviews with potential customers, although that kind of project can cost hundreds of dollars per respondent.
iii) Can you correct for any skey in the sample? Certain methods allow researchers to cross-reference participants' answers in order to verify that they are telling the truth and not just saying what they think the researcher wants to hear. On this score, Internet surveys come up short: They are often anonymous and there may not be a way to crosscheck a respondent's answers. You also want to be wary of a sample that includes too many people who have taken part in numerous previous research projects because they can "become less like humans and more like expert panelists," says Joel Huber, editor of the Journal of Market Research and a professor at Duke University.
iv) Are omnibus surveys planned for the topic in which I'm interested? Omnibus surveys are conducted on behalf of many different clients. Some research firms will let you buy a question on these generalized surveys for between $100 and $1,000. This is a good way to score original research on the cheap.
v) Who will own the rights to the research? Typically the client owns market research, but a research firm may want some rights to its work. Negotiate this up front.
vi) May I have a weekly progress report? Ask your firm to report each week how many interviews it has completed and to provide you with selected interview transcripts and spending activity. This is a good way to guarantee that a study stays on the right track.
August, 2007
SWAG resources (and sample products)
-corplogoware.com (fishing lure)
-epromos.com (gummi worms, back massager, stapler, flashlight)
-baileygp.com (matches)
-theideacatalog.com (fleece blanket)
-leedsworld.com (tape measure, steak knives, hydration backpack)
-promoideas.org (travel pack)
-onsalepromos.com (iPod docking station)
-ipromo.com (USB drive)
-cables4computer.com (wireless travel PC mouse)
-swervepoint.com (notebook)
Culturally Appropriate Gifts
India
-what: chocolates, dried fruits, fancy nuts, crystal vases or sculptures; company-branded items, such as thumb drives.
-how: status in India is key. Those with a higher rank should get a more expensive version of the same gift. Present the gift in a social setting, not at the office.
China
-what: pens, small electronic devices, golfing items. Stay away from clocks, handkerchiefs, and anything white, as these items have bad connotations in Chinese superstition.
-how: give the gift at the end of your first meeting or at a social event after the business is done. The receiver will likely decline the gift three times before accepting. You will be expected to do the same when you are offered a gift.
Nigeria
-what: think luxury - engraved high-end pens, or a $100 to $200 bottle of wine, assuming the executive is not Muslim.
-how: give a gift at initial meetings and at high-level sales calls. Give a nicer gift to senior executives than you do junior ones. If the CEO is a man, you can also bring gifts for his spouse.
Brazil
-what: gifts are generally more personal and should represent the interests of the executive. For example, if he is a sports fan, bring a jersey from a top US team. High-tech gadgets also are appreciated.
-how: give the gift at the end of the meeting or in a social setting after business matters are concluded.
Russia
-what: a good bottle of liquor is appreciated (cognac or whiskey, not vodka), as are cigars. Chocolates and flowers also are appropriate.
-how: gifts aren't generally expected in Russia. If you want to give a gift, do it at the end of a meeting or in a social setting.
Six Social Networks Worth Knowing About For Businesses
i) LinkedIn, best for finding professionals.
-A membership service through which 11 million people list work experience, references, and job goals. LinkedIn's search engine, which scans the profiles, is an excellent tool for recruiting and job hunting. It's aimed at individuals, though some companies use it. Basic version is free. Premium version offers more introduction requests, fuller access to other people's profiles, and the ability to directly contact people who aren't connected to you.
ii) Small World Labs, best for looking good fast
-An online service that hosts customized social networks that use your own branding and Web address. Small World builds it; you can use it to link employees or to turn customers into a social network so they can share ideas. $10,000 to $75,000 setup fee, monthly hosting fees between $500 and $3,000.
iii) MySpace, best for marketing to Gen-Y
-About 65 million people us it to create pages with personal pictures, blog entries, video clips, and links to the pages of their friends. Its size and the passion of its users make MySpace a good way to build buzz among consumers, especially younger ones. Bands and authors build pages looking to get linked to by MySpace members and featured on MySpace pages dedicated to music or artists. Free.
iv) Twitter, best for mobile marketing
-A message-posting service designed to let people send very short messages (140 characters or less. While many people use it for short-form blogging, marketers can use it to post quickie updates to customers and work groups can use it to keep tabs on what other members are doing.
v) Yelp, best for hearing customers
-An online service that lets users rate and comment on local businesses. You can see what your customers think about you and engage with them. Free to register, sponsorships cost $250 to $2,000 a month.
vi) Visible Path, best for helping salespeople
-Software that integrates with email, CRM applications, and other corporate programs to produce a searchable web of the relationships that exist within and outside a company. Basic version is free; added support and administration is $20 per subscriber per month.
September, 2007
What To Look For In An Ad Agency: Questions To Ask
i) Describe my brand. This gives an agency a chance to demonstrate that it's done its homework. Its staff should be well versed in your overall message and strategy as well as tactical matters, such as where you've placed ads before. As the agency folks talk about your company, look to see how passionate they are about what you do. And look for any special insights about your positioning in the market, which will show that they are not only good researchers but also independent thinkers.
ii) How many clients do you have? How big are their accounts? Every agency has a pecking order. Ideally, you want to be one of the several lead clients, says Dave Beals, CEO of Jones Lundin Beals, a Chicago-based firm that specializes in agency search and selection. "You need to balance attention to your account versus the breadth and depth of an agency's resources," he says.
iii) How well do you know my industry? This is a bit of a trick question. You want a company that is familiar with your industry, but if the agency works exclusively in one field, there's a chance it won't be very innovative - or worse, that it'll end up repurposing old ideas. An agency with experience in a few different areas is more likely to try something new.
iv) Can I meet your copywriters and art directors? Agencies always trot out the bigwigs for pitch meetings. Make sure you meet the little guys - the account people and the creative team with whom you'll actually interact, says Mel Sokotch, author of Shortcuts to the Obvious: How to Get More Effective Advertising More Efficiently. How impressive are they? And how confident are their bosses when it comes to introducing you to them?
v) Tell me the story behind a winning campaign. Ask the agency to identify how it moved from the client's direction to the creative execution, where the ideas came from, and how they were tested. Then loop back to the client. The agency's process should become clear - as should its willingness to collaborate.
vi) What are the different ways that I can pay you? Some agencies still live by the vaunted billable hour, while others charge a flat fee per project. Some companies, including Procter & Gamble, now offer incentives to their agencies, says Beals, by paying a percent of sales, for example.
Search For Tomorrow: fledgling companies taking on Google
-The technologists: www.hakia.com and www. powerset.com, using "natural language" technologies
-The people-powered: www.chacha.com and search.wikia.com, using "guides" to help stumped online searchers
-The specializers: www.toptenwholesale.com, www.zillow.com, and www.kayak.com, "vertical search" specializing in a topic or industry and using rudimentary search means
-The comeback kids: www.yahoo.com, www.ask.com, and www.live.com, rebranding to make themselves more attractive to advertisers if Google's keyword prices continue to rise
-The Adsense assailants: www.contextweb.com and www.quigo.com, the Adsense network allows website owners to display Google ads in return for a share of revenue, is responsible for 39% of Google's revenue ($4.2B)
How to vet a board member: here's how to get the right person in the chair with smart questions
i) "What will it take for my company to grow from $10M to $100M?"
-Insert your own sales figures, but the point is to find out how much a candidate knows about building a business and how he'd take yours to the next level. His ideas may be different from yours, which is fine. Good directors challenge your thinking and help you hone your strategy.
ii) "Why do you want to be on my board?"
-A retired CEO might enjoy mentoring up-and-comers. Other candidates may see it as a chance to expand their networks or as a smart career move. All of these answers are legit. Take a pass if someone only talks about how much money he stands to make. "Upside shouldn't be one of the top reasons," says Clark Waterfall, managing director at BSG Team Ventures, an executive search firm in Boston.
iii) "Are you on any other boards?"
-Be wary of candidates who collect board seats like candy. Conscientious directors seldom sit on more than three or four boards at a time.
iv) "How do you expect to be paid?"
-Directors generally spend at least 25 to 30 hours a year participating in meetings, phone calls, and committee work. In return, according to Waterfall, a private company with less than $25M in revenue typically offers 0.15 to 1 percent of equity, meeting fees ranging from $750 to $1,250, plus travel expenses. Tack on an annual stipend of about $2,500 to $25,000 if your business does more than $25M a year.
v) "Do you require D&O insurance?"
-Directors and officers insurance protects corporate officers and board directors if a business get sued, and you'll have a hard time luring A-list candidates without it. A D&O policy for a small company runs about $10,000 to $50,000 a year, says Waterfall, so if you're not willing to pay for it, tell a candidate up front. It could be a deal breaker, especially for individuals with high net worth.
vi) "Are you willing to be evaluated every year?"
-Your board members should be reviewed like everyone else in the company. A candidate who plans to take his role seriously won't have a problem with it. For early-stage companies, Waterfall suggests that outside directors serve a one-year term at first, then be re-elected, perhaps for a longer term, if the board is working well together.
Travel: easy come, easy go
-The security line fast track:
--Clear (www.flyclear.com) has express security lanes at five airports in New York, Cincinnati, Indianapolis, Orlando, and San Jose. They'll need four fingerprints and an iris scan. It claims to cut average wait times down to a few minutes.
--Fast Lane Option (www.fastlaneoption.com) will be creating express lines later this year.
-The best of first class:
--Singapore Airlines (Givenchy pajamas), Virgin Atlantic (swinger-lounge/massage parlour), Emirate Airlines (private suites with closing doors and minibar), and Qatar Airways (separate terminal for first- and business-class passengers with a jacuzzi and saunas). Compare the best of the best with Skytrax (www.airlinequality.com).
-Websites that can help you search for a good seat:
--www.seatguru.com: spellbinding details about every nook and cranny of seats on a wide array of carriers. It eve lists which plane models have electrical outlets, TVs, and earphone jacks.
--www.boardfirst.com: if you're flying Southwest Airlines, spend $5 on this site to reserve an A pass, which allows you to be first in line to jockey for a seat.
--www.webflyer.com: helps you get the most out of your frequent-flyer miles and find the best way to swap between programs.
--www.flightstats.com: lists the percentage of delayed and cancel flights by airport and carrier. Also estimates when a particular flight will really take off and land.
-Five ways to lighten your load
--Shoes go first: pick one or two pairs of versatile footwear and coordinate your clothing with them.
--Pack by color: base your wardrobe for each trip on one set of colors so you can mix and match. Bonus: take at least one suit jacket that can be worn with jeans.
--Buy it when you get there: you know exactly where to shop for anything from toothpaste to a tasteful new suit.
--Use the hotel laundry service: most you really need is a few days' worth of clothing.
--Ditch the laptop: for short trips, a PDA will usually cut it. It you have a lot of typing to do, pack a folding keyboard.
-Door-to-door luggage delivery services:
--Luggage Free: typically offers refunds for late shipments ($220 per bag)
--Luggage Forward: offers a refund and up to $500 if your domestic shipment doesn't arrive on the right day ($305)
--Luggage Express: part of a large logistics company, so it can offer low rates ($153)
--SkyCap International: bundles FedEx shipping with its own customer service ($159)
-Snacks on a plane:
--www.dietdetective.com/content/view/1916 lists the caloric content of the snacks offered on six of the largest domestic carriers.
Top 20 Boomtowns, Large Cities (Employment base of 450,000)
i. Las Vegas-Paradise, Nev.: manufacturing, business services, leisure
ii. Phoenix-Mesa-Scottsdale, Ariz.: retail, business services, leisure
iii. Fort Lauderdale, Fla.: business and financial services, education and health
iv. Orlando-Kissimmee, Fla.: business and financial services, wholesale, leisure
v. Riverside-San Bernardino-Ontario, Calif.: retail, business services, transportation
vi. West Palm Beach-Boca Raton, Fla.: business services, leisure, transportation
vii. Raleigh-Cary, N.C.: education and health, government
viii. Honolulu, Hawaii: information, transportation
ix. Northern Virginia: business services, retail
x. Salt Lake City, Utah: business services, education and health
xi. Tampa-St. Petersburg-Clearwater, Fla.: business services, leisure, retail
xii. Jacksonville, Fla.
xiii. Washington, DC-Arlington-Alexandria, Va.
xiv. Nashville, Tenn.
xv. Sacramento, Calif.
xvi. Austin-Round Rock, Texas
xvii. Houston-Sugar Land-Baytown, Texas
xviii. Seattle-Bellevue-Everett, Wash.
xix. Bethesda-Gaithersburg-Frederick, Md.
xx. Portland-Beaverton, Oreg.-Vancouver, Wash.
Top 20 Boomtowns, Midsize Cities (Employment base of 150,000-449,999)
1. Cape Coral-Fort Myers, Fla.
2. McAllen-Edinburg-Mission, Texas
3. Sarasota-Bradenton-Venice, Fla.
4. Fayetteville-Springdale-Rogers, Ark.
5. Deltona-Daytona Beach-Ormond Beach, Fla.
6. Lakeland, Fla.
7. Provo-Orem, Utah
8. Reno-Sparks, Nev.
9. Boise City-Nampa, Idaho
10. Savannah, Ga.
11. Bakersfield, Calif.
12. Tucson, Ariz.
13. Baton Rouge, La.
14. Tacoma, Wash.
15. Charleston-North Charleston, S.C.
16. Ogden-Clearfield, Utah
17. Pensacola-Ferry Pass-Brent, Fla.
18. Palm Bay-Melbourne-Titusville, Fla.
19. Albuquerque, N.Mex.
20. Springfield, Mo.
Top 20 Boomtowns, Small Cities (Employment base less than 150,000)
1. St. George, Utah
2. Yuma, Ariz.
3. Prescott, Ariz.
4. Naples-Marco Island, Fla.
5. Morgantown, W.Va.
6. Bend, Oreg.
7. Laredo, Texas
8. Port St. Lucie-Fort Pierce, Fla.
9. Las Cruces, N.Mex.
10. Coeur d'Alene, Idaho
11. Casper, Wyo.
12. Midland, Texas
13. Fort Walton Beach-Crestview-Destin, Fla.
14. Myrtle Beach-Conway-North Myrtle Beach, S.C.
15. Dubuque, Iowa
16. Dover, Del.
17. Ocala, Fla.
18. Sebastian-Vero Beach, Fla.
19. Auburn-Opelika, Ala.
20. Idaho Falls, Idaho
June, 2007
A boss's guide to buying flowers
Get well:
-tip 1: deliver an bouquet to a home address as some hospitals have rules against fresh flowers
-best picks: sunflowers, gerbera daisies, and hyacinths
-tip 2: arrangements should be big and bright, and easy to care for
Apology:
-tip 1: stick with the understated and pared down, avoid bright colors. An over-the-top bouquet can look like you're trying to bribe someone.
-tip 2: always include a handwritten card
-best picks: orchids because they are elegant, simple, relatively neutral, and expensive-looking
Client thank-you:
-tip 1: think less to impress, get the wow factor with the quality of blooms, not the quantity
-best picks: careful selection of a few exotic or harder-to-find blooms such as frilled tulips, peonies, or dendrobium orchids
Birthday:
-tip 1: big and showy, sent directly to the person's desk
-best picks: lilies because they're large and come in attention-grabbing colors like bright yellow and orange
Sympathy:
-tip 1: deliver to a home address, delivery to a desk may draw unwanted attention
-tip 2: always include a handwritten card
-best picks: classic white calla lillies tend to be too mournful, so opt for irises, tulips, or freesias in gentle hues like blue, purple and pale yellow
Company milestone:
-tip 1: go for something big and extravagant; the flowers should attract the level of attention that this exciting achievement deserves
-best picks: arrangement of one kind of premium flower; too dramatic for other occasions, but fits the bill here. Try cymbidium orchids, irises, or stargazer lilies
New baby:
-tip 1: don't worry about finding pink or blue, the new parents will have more than enough of these. Just stick with vibrant, warm colors
-best picks: mix of seasonal flowers; spring and summer flowers like tulips and hydrangeas; in the fall, dahlias or assorted berries
Greeting a client (lesson from a professional driver)
a) The sign: hold it at chest height; write the client's name (last name only) in black felt-tipped marker; bring a clipboard to hold behind the sign so it doesn't flutter in the wind; close up your o's, sloppiness is an insult to the customer; when the client is in the car, place the sign neatly back in your briefcase, never fold or dispose of the sign in front of the customer.
b) The briefcase: carry extra signs (paper and laminated), and an extra marker
c) The shoes: keep them well-polished; people notice shoes
d) The greeting: look your client directly in the eye and prepare to greet with a firm handshake; be aware that some people don't like to shake hands, always be reading your client's mood
July, 2007
Funding terminology
-Ratchets: automatically rewards extra shares to prevent your original investors from having their stakes diluted. If you've given these to seed investors, get them to give them up, or forget about raising VC funds.
-Preemptive rights: related to ratchets, preemptive rights give investors the option to buy more shares during a subsequent round, thus maintaining a large stake. Remind friends and family investors that small is beautiful. Dilution is not necessarily a bad thing if the company's overall value increases.
-Liquidation preference: shareholders with this status get paid first in the event that the company is sold or goes bankrupt. This will decrease your chance of a windfall and put off VCs, who almost always demand that they get paid before your seed investors do.
-Veto rights: these give friends and family the right to veto a subsequent investment. Most professional investors will force you to waive veto rights before beginning negotiations.
-Board seats: it's okay to create a board that contains seed investors, but friends and family should understand that they'll probably have to give up their seats in the event of a deal.
How to find the best market research firm for your company: Questions to ask
i) Have you worked with businesses like mine? Researchers tend to specialize by industry and by client size, so ask for a list of references and look to see if it includes your peers. If a firm has done work for a director competitor, however, make it sign a nondisclosure agreement.
ii) What methodology will you use and why? Researchers collect data in three ways: through face-to-face interviews, over the phone, and online. If you are looking for answers to basic questions about your customers, then an online survey, which costs only pennies per respondent, is right for you. If your company is entering a new market and you want qualitative research on your new customer base, then a researcher may recommend face-to-face interviews with potential customers, although that kind of project can cost hundreds of dollars per respondent.
iii) Can you correct for any skey in the sample? Certain methods allow researchers to cross-reference participants' answers in order to verify that they are telling the truth and not just saying what they think the researcher wants to hear. On this score, Internet surveys come up short: They are often anonymous and there may not be a way to crosscheck a respondent's answers. You also want to be wary of a sample that includes too many people who have taken part in numerous previous research projects because they can "become less like humans and more like expert panelists," says Joel Huber, editor of the Journal of Market Research and a professor at Duke University.
iv) Are omnibus surveys planned for the topic in which I'm interested? Omnibus surveys are conducted on behalf of many different clients. Some research firms will let you buy a question on these generalized surveys for between $100 and $1,000. This is a good way to score original research on the cheap.
v) Who will own the rights to the research? Typically the client owns market research, but a research firm may want some rights to its work. Negotiate this up front.
vi) May I have a weekly progress report? Ask your firm to report each week how many interviews it has completed and to provide you with selected interview transcripts and spending activity. This is a good way to guarantee that a study stays on the right track.
August, 2007
SWAG resources (and sample products)
-corplogoware.com (fishing lure)
-epromos.com (gummi worms, back massager, stapler, flashlight)
-baileygp.com (matches)
-theideacatalog.com (fleece blanket)
-leedsworld.com (tape measure, steak knives, hydration backpack)
-promoideas.org (travel pack)
-onsalepromos.com (iPod docking station)
-ipromo.com (USB drive)
-cables4computer.com (wireless travel PC mouse)
-swervepoint.com (notebook)
Culturally Appropriate Gifts
India
-what: chocolates, dried fruits, fancy nuts, crystal vases or sculptures; company-branded items, such as thumb drives.
-how: status in India is key. Those with a higher rank should get a more expensive version of the same gift. Present the gift in a social setting, not at the office.
China
-what: pens, small electronic devices, golfing items. Stay away from clocks, handkerchiefs, and anything white, as these items have bad connotations in Chinese superstition.
-how: give the gift at the end of your first meeting or at a social event after the business is done. The receiver will likely decline the gift three times before accepting. You will be expected to do the same when you are offered a gift.
Nigeria
-what: think luxury - engraved high-end pens, or a $100 to $200 bottle of wine, assuming the executive is not Muslim.
-how: give a gift at initial meetings and at high-level sales calls. Give a nicer gift to senior executives than you do junior ones. If the CEO is a man, you can also bring gifts for his spouse.
Brazil
-what: gifts are generally more personal and should represent the interests of the executive. For example, if he is a sports fan, bring a jersey from a top US team. High-tech gadgets also are appreciated.
-how: give the gift at the end of the meeting or in a social setting after business matters are concluded.
Russia
-what: a good bottle of liquor is appreciated (cognac or whiskey, not vodka), as are cigars. Chocolates and flowers also are appropriate.
-how: gifts aren't generally expected in Russia. If you want to give a gift, do it at the end of a meeting or in a social setting.
Six Social Networks Worth Knowing About For Businesses
i) LinkedIn, best for finding professionals.
-A membership service through which 11 million people list work experience, references, and job goals. LinkedIn's search engine, which scans the profiles, is an excellent tool for recruiting and job hunting. It's aimed at individuals, though some companies use it. Basic version is free. Premium version offers more introduction requests, fuller access to other people's profiles, and the ability to directly contact people who aren't connected to you.
ii) Small World Labs, best for looking good fast
-An online service that hosts customized social networks that use your own branding and Web address. Small World builds it; you can use it to link employees or to turn customers into a social network so they can share ideas. $10,000 to $75,000 setup fee, monthly hosting fees between $500 and $3,000.
iii) MySpace, best for marketing to Gen-Y
-About 65 million people us it to create pages with personal pictures, blog entries, video clips, and links to the pages of their friends. Its size and the passion of its users make MySpace a good way to build buzz among consumers, especially younger ones. Bands and authors build pages looking to get linked to by MySpace members and featured on MySpace pages dedicated to music or artists. Free.
iv) Twitter, best for mobile marketing
-A message-posting service designed to let people send very short messages (140 characters or less. While many people use it for short-form blogging, marketers can use it to post quickie updates to customers and work groups can use it to keep tabs on what other members are doing.
v) Yelp, best for hearing customers
-An online service that lets users rate and comment on local businesses. You can see what your customers think about you and engage with them. Free to register, sponsorships cost $250 to $2,000 a month.
vi) Visible Path, best for helping salespeople
-Software that integrates with email, CRM applications, and other corporate programs to produce a searchable web of the relationships that exist within and outside a company. Basic version is free; added support and administration is $20 per subscriber per month.
September, 2007
What To Look For In An Ad Agency: Questions To Ask
i) Describe my brand. This gives an agency a chance to demonstrate that it's done its homework. Its staff should be well versed in your overall message and strategy as well as tactical matters, such as where you've placed ads before. As the agency folks talk about your company, look to see how passionate they are about what you do. And look for any special insights about your positioning in the market, which will show that they are not only good researchers but also independent thinkers.
ii) How many clients do you have? How big are their accounts? Every agency has a pecking order. Ideally, you want to be one of the several lead clients, says Dave Beals, CEO of Jones Lundin Beals, a Chicago-based firm that specializes in agency search and selection. "You need to balance attention to your account versus the breadth and depth of an agency's resources," he says.
iii) How well do you know my industry? This is a bit of a trick question. You want a company that is familiar with your industry, but if the agency works exclusively in one field, there's a chance it won't be very innovative - or worse, that it'll end up repurposing old ideas. An agency with experience in a few different areas is more likely to try something new.
iv) Can I meet your copywriters and art directors? Agencies always trot out the bigwigs for pitch meetings. Make sure you meet the little guys - the account people and the creative team with whom you'll actually interact, says Mel Sokotch, author of Shortcuts to the Obvious: How to Get More Effective Advertising More Efficiently. How impressive are they? And how confident are their bosses when it comes to introducing you to them?
v) Tell me the story behind a winning campaign. Ask the agency to identify how it moved from the client's direction to the creative execution, where the ideas came from, and how they were tested. Then loop back to the client. The agency's process should become clear - as should its willingness to collaborate.
vi) What are the different ways that I can pay you? Some agencies still live by the vaunted billable hour, while others charge a flat fee per project. Some companies, including Procter & Gamble, now offer incentives to their agencies, says Beals, by paying a percent of sales, for example.
Sunday, August 19, 2007
Notes from Computer Shopper
Let me start by saying that I'm now on Blogger because the Friendster blogging software failed me one too many times... and I'll stop there before I start ranting...
Alright, onto my Computer Shopper Notes
October, 2006
Fun and Practical Web 2.0 Sites
-Clipmarks (www.clipmarks.com): clip a piece of a web page the way you'd tear an article from a magazine, then tag, store, organize and share your clips.
-Dropcash (www.dropcash.com): helps you organize and manage your fundraiser. You'll need a Paypal account to receive funds.
-43 Things (www.43things.com): list your goals, share your progress, solicit advice and encouragement from others trying to accomplish the same goals, and browse other aspirations.
-Gliffy (www.gliffy.com): for your diagramming needs, like MS Visio. Lets you build flow charts, floor plans, network diagrams or just about any type of drafting you need.
-Google Page Creator (pages.google.com): not for blogging or sharing photos, but for bare-bones Web pages containing text, images, and links.
-Goowy (www.goowy.com): blurs the lines between Web browser and desktop, it's a Web-based operating environment.
-Imeem (www.imeem.com): online community using client-side software that allows sharing of messages, files, photos, music, and video.
-JotSpot Family Site (familysite.jotspot.com): social-networking site catering specifically to families.
-Lala (www.lala.com): allows users to trade CDs for a $1 charge and 75 cents for shipping.
-Meebo (www.meebo.com): browser-based IM access to AIM, Gtalk, ICQ, Jabber, MSN or Yahoo.
-Mozy (www.mozy.com): backup data with wizard-driven utility that automatically scans your hard drive for data it thinks you'll want to back up (Word, photos, MP3s), with 2GB free storage.
-Pandora (www.pandora.com): like your personal DJ, streams music from selected artist, then others like him/her/them.
-PeerTrainer (www.peertrainer.com): helps you get fit and trim by logging your meals and workouts, while connecting you with a peer group.
-Shadows (www.shadows.com): tag, store, organize, and share your bookmarks like del.icio.us, but with a different interface and more-compelling community features.
-Sportsvite (www.sportsvite.com): connects you with players and teams in your area.
-Ta-da List (www.tadalist.com): to-do list on the web, where you can manage multiple lists, share them with friends, and even track them via RSS.
-Windows Live Local (local.live.com): maps, virtual pushpins to mark out routes, driving directions, business addresses and phone numbers, and traffic conditions.
-Yahoo Answers (answers.yahoo.com): everyday users share info, advice, and opinions.
-Zillow (www.zillow.com): research tool with meticulous details on houses.
-Zoho Writer (www.zohowriter.com): Web-based word processor.
November, 2006
Price-Comparison Sites
-Froogle (www.froogle.com): Pro: incorporates local brick-and-mortar price searching with Google Maps. Cons: results are difficult to digest, no way to compare totals with tax and shipping fees.
-MySimon (www.mysimon.com): Pro: plenty of buying guides and expert shopping advice. Cons: home page is cluttered, buying advice isn't integrated into price searches.
-NexTag (www.nextag.com): Pros: Lots of filtering options, price history featuring graphs past pricing, downloadable toolbar. Cons: no buying guides or expert reviews, doesn't remove sellers with lots of negative user feedback.
-PriceGrabber (www.pricegrabber.com): Pros: easily searchable merchant info, member protection policy protects buyers from fraudulent sellers. Con: no buying guides.
-Shopping (www.shopping.com): Pros: plenty of filtering options, stringent trusted store criteria. Con: eBay listings could be better integrated into pricing results.
-ShopWiki (www.shopwiki.com): Pros: innovative feature offerings, plenty of user-submitted buying advice. Cons: innovative features are poorly executed, indigestible, often inaccurate price results.
-Shopzilla (www.shopzilla.com): Pros: large number of merchants, good integration of buying tools into pricing pages. Con: cluttered launch page.
-Smarter.com (www.smarter.com): Pros: predictive text searches, SMS pricing tool, downloadable toolbar. Con: rebate and coupon information not integrated into pricing results.
May, 2007
The Best Free Software: (http://computershopper.com/feature/200704_the_best_free_software)
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