Categories
Branding

Going Local

going-local.jpgInflux Insights: One of the secrets behind the new premiums was that they didn’t rely on advertising, instead they found a way to get the bar staff and bar tenders on their side and used the power of recommendation.
Even though the brand’s owner, the Swedish government is due to sell its prized asset, early in the year, Absolut broke a new ad global campaign and yesterday launched a fascinating new initiative.
Absolut is known for its bottle, but also its flavors, at one moment in the late 90s, it seemed like the brand was launching a new flavor a week. The brand is now taking its flavor story in a new direction by launching flavors named after locations with specific recipe designs.
The first one out of the gate is Absolut New Orleans- mango flavor with a black pepper kick. The new flavor will be limited to a run of 35,000 cases.
This is a very interesting development for a brand trying to escape from the tyranny of ubiquity by becoming more local and limited. It allows Absolut to be relevant to important drinks markets and gives them the opportunity to create a new conversation with bar tenders.
Absolut Local [Influx Insights]

Categories
Business Ideas

A Good Idea?

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BusinessWeek: How can people distinguish between a great idea and a good idea? You make a list of all the things that have to work in order for the idea to be successful. That means focusing on the process rather than the product. For instance, distribution: Where is the product sold to the consumer, and are there middlemen? Who’s selling it for you? What’s the pricing model? Where do you get the raw materials? What’s your marketing strategy, and how will it scale?
Then you give yourself an honest appraisal of whether it’s going to work, recognizing that not one of the people whose help your success depends on cares about your idea unless it helps them make money. I can’t tell you how many people I talk to think they have a brilliant idea and can’t figure out why other people don’t agree.
Vetting Your Idea [BusinessWeek]

Categories
Newsletter

BIZNESS! Newsletter Issue 48

BIZNESS! Newsletter

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This Issue’s Top Stories:
MARKETING
Reaching Her
We introduce you to SheSpeaks, a national network of smart and insightful women who have a special opportunity to test products and influence them. SheSpeaks gives you a forum to tell companies what you need, what you want, what you like and what you don’t. And, as the SheSpeaks network grows, so does the power of our collective voices.
NON-PROFIT & CHARITY
White Cane Label
Two Rochester Institute of Technology students, Jaimen Brill and Asmah Abushagur, are launching an online clothing site for the blind and visually impaired. The site, White Cane Label, is a non-profit effort to help blind people shop online and easily keep track of their wardrobe without the help of a sighted friend.
GADGETS
New MP3 Concept
Why is it that the best designs almost always seem to be just concepts? Oh right, they don’t have to work. Still, that won’t stop us from admiring this lighted, cylindrical MP3 player, which looks more like a Lightsaber than a music gadget. (There’s no reason, of course, it can’t be both.)
AUTOMOBILES
Easy Car Buying
Americans who are in the market for new automobiles, but don’t want the headaches of searching or haggling for the best price, now have an alternative that can help them sidestep the usual dealership woes—No Haggles, a new car buying service that promises to save customers time and money by negotiating all of the details of the sale on their behalf.
CONSUMER GOODS
Chew For Babies
These pendants by Smart Mom Jewelry look good enough to eat, which is the whole idea. Colorful heart- or donut-shaped pendants of food-safe, phthalate-free, federally approved silicone adorn the mom and satisfy her teething baby at the same time.
FOOD & BEVERAGES
All-Natural Worcestershire Sauce
Enjoyed by the British since the reign of Queen Victoria, Worcestershire Sauce is surely one of our more versatile and well-loved “secret ingredients”. So when Geo Organics decided to produce a version that is not only organic but vegetarian and gluten-free, they knew they faced a challenge to meet the exacting standards of Worcestershire Sauce fans.
EDUCATION
Baby Jamz
Mathew Knowles’ Music World Entertainment has partnered with Planet Toys to launch the first ever hip-hop/rhythm inspired preschool toy line promoting creativity, learning and movement through music. Mr. Knowles, who has made it a top priority to create and release “child-friendly” music content over the past year with his Kid’s Rap Radio series, has brought to fruition this groundbreaking line of innovative, educational and musically stimulating toys.
GADGETS
Gamers’ Chair
Lumisource presents BoomChair, a piece of multi- media furniture for the purpose of entertainment. They feature interior speakers and vibration motors that enhance video games, music and movies. You’ll actually feel a part of them. They are made out of different materials including, Microsaude, vinyl, and mesh.
TECHNOLOGY
Best Tech Help
Most small-business owners can’t afford consultants or an IT staff. For tech support, they draw on other resources: neighbors, friends, relatives — anyone they know who might have a handle on a tech issue they don’t understand. But there are other sources that small businesses can turn to for reliable, inexpensive and even free tech support: online, government, and academics.
HOW-TO GUIDES
How To Get More Customers
The good news and bad news about marketing is that price and results are not necessarily connected. You can pay the same price for poor results as you would for great results. By planning your marketing well, you can put more quality into it and therefore, get better results out of it.
WORK LIFE
Time of Crisis
The everyday pressures of running our businesses may feel like life and death on a daily basis – collecting payment, running payroll and managing various personalities. These can lead to high pressure situations for even the most prepared entrepreneurs. When crises do happen, they put real life in perspective.
SALES & MARKETING
WOM Important For Business
With the increasing number of blogs and consumer review sites on the web many marketers are concentrating all of their efforts with these kinds of word-of-mouth efforts. And with 66 million adults sharing information online it is understandable why online may take precedence. However, marketers need to be just as aware of how their products and brands are faring offline.
PEOPLE & MANAGEMENT
Develop Profitable Relationships
No question about it; you provide one of the most valuable services imaginable. However, without an ongoing and ever-increasing number of new, quality prospects, you’ll eventually run out of people with whom to share the benefits. Develop profitable, win/win relationships with practically every new person you meet – whether one on one or in a social setting.
ONLINE BUSINESS
Neighbour + Navigate
The search-engine leader in South Korea, with 77 percent of searches, is a home-grown site called Naver.com. Founded in 1999 by NHN, an online gaming company, Naver capitalizes on both the lack of Korean-language content online as well as the interest amongst Koreans to try to help each other out.
STARTING UP
Now Your Passionate Job
You’ve worked hard, you’ve invested well, and now you have the financial means to exit early. While others might be perplexed by the unscheduled blocks of time in retirement, you know exactly what you want to do. Now you’d like to turn that hobby or passion into your life’s work.

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Categories
Entrepreneurship

Entrepreneurs: Born or Made?

bonds.gifBusinessWeek: When it comes to being an entrepreneur, is it simply a matter of physiological hard wiring? Or is the entrepreneurial spark something that can be lit? Clearly, qualities such as risk taking and determination, common traits in many entrepreneurs, are part of one’s DNA. However, transforming inspiration into a business concept is one thing, and transforming a concept into an actual business is another. Can the characteristics often associated with entrepreneurs—drive, confidence, insight—be acquired? Can they be learned?
With more and more individuals eschewing the corporate ladder in order to start their own outfits at ever younger ages, BusinessWeek.com recently put the question to a cross-section of entrepreneurs and academics: Are entrepreneurs born or made?
Is There a Gene for Business? [BusinessWeek]

Categories
People & Relationships

Succeed With Teamwork

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Entrepreneurs: I’ve worked with entrepreneurs for more than 25 years, and most of the successful ones have created and developed their products on their own and love being independent. “Being my own boss” is the answer I usually get when I ask them what they like best about being an entrepreneur.
But in fact, successful entrepreneurs are not Lone Rangers — which, for inexperienced entrepreneurs, should be regarded as a good thing. I’ve talked to more than 100 successful entrepreneurs over the past 10 years, and they frequently don’t have a lot of business management experience, don’t have any more money than the average person and typically have never tried to introduce a product before.
The key moment in their entrepreneurial process has been when they recognized their shortcomings and sought help from other people. That help is exactly what they need to succeed, and it can come in hundreds of forms, such as these:
A manufacturer willing to extend dating on orders
An industry connection who helps you fund your initial production run
A retailer who heavily promotes your product at its expense
You should think about the kind of help you will need right at the start, before you even begin to introduce a product to market. If you can prototype and make your product at home, you can probably survive on your own until you’re ready to sell. But most entrepreneurs have products that require a little more investment upfront, and they could go broke if they wait too long to get experienced advice. Not only that, but getting help early will prevent a lot of mistakes in creating your product, and this will help you save money for the crucial tasks that lie ahead.
Teaming Up for Success [Entrepreneurs]