Marketing is a must in today’s fast-paced world. Whether you’re running a corporation, a one-person office, a retail store, even a non-profit organization, a constant focus on marketing is crucial to your operation.
Good marketing makes your enterprise grow. That’s why major corporations have entire departments devoted to marketing.
Yet your marketing strategies have to be continually honed and updated. Marketing does not have to go beyond your town, your county, or your state. But it can go national or even worldwide. Marketing can be limited or limitless in this age of the World Wide Web.
And even if you can’t afford a marketing department or to have one person in your organization handle marketing full time, you can still get your company’s name–plus your products and services–out there.
Here are some marketing techniques you can try. You don’t have to do them all. You might want to do just a few to start. But remember: Marketing is essential to your success. In marketing, no news is bad news. You want the buzz.
BE A NEWSMAKER
Is there something of interest happening your business that the community should know about? Send out a press release about it.
Some topics for press releases
Did you recently:
hire a new employee?
expand a department?
promote an employee?
name an employee of the month?
land an important client?
open a new office?
add a new service?
add a new product line?
start a new promotion?
sponsor a Little League baseball team?
All these things are worthy of a press release, at least to your local weekly newspapers and to the business page of the daily newspaper that covers your area. Local weekly newspapers are usually happy to hear about your news and daily newspapers often have columns that cover these types of local business happenings. These press releases get your name out to the community, let people know your business exists, and work as an inexpensive way of getting some ink.
If you’re doing these things anyway, why not let people know about it?
Photos with a press release always draw people into the story about your business, but even if you can’t send a photo, it’s worth sending a release.
People often ask why a particular business is always in the newspaper. It’s because that business lets the paper know when something newsworthy is happening. It doesn’t have to be big news, just news.
The benefits
Getting in local newspapers is invaluable. Lots of times the local newspapers will even use your company’s name in the headline. What great free publicity! The more people see your business name around, the more likely they are to turn to your business when they need the products or services you offer. Being seen in local newspapers adds legitimacy to your business name. You can frame the articles and display them in your place of business. It shows that your business is a mover and shaker. Think of your business in the same way an athlete approaches his sport: You want to do anything within the rules to get an edge. Outpublicizing your competitors is within the rules.
GET KNOWN AS AN EXPERT
You’ve worked hard to develop a business. You’ve learned all you could about your business. You know all the ins and outs. Now it’s time for you to display that knowledge, to share it with others. Become known as an expert in your field, so when anything happens in your field, and anybody wants to know about it, you’re the one folks contact.
Let’s say you’re in the security business. When security issues make the news, are the local newspapers or radio or TV news departments contacting you for your insights into what’s going on? They should be.
How it works
If you’re an expert in any field, chances are news organizations are going to want to contact you to get your opinion on what’s happening when news breaks on that subject, either on the local or national scene. News can break in any field, and if reporters or producers want knowledgeable comments on the subject, they should know that you’re the go-to guy or gal. Even if you think you’re running a business that would never be contacted by a news outlet, a story could break that could fit your expertise perfectly.
Say you’re running a baseball card store. Why would the media want to contact you, you might wonder. What if a newspaper, radio or TV station wants to do a story on how steroid use in professional sports is affecting the sale of sports memorabilia like baseball cards? You should be the one they call.
There are more media outlets today than ever before, more stories printed and aired about current topics than ever before. So more experts are needed to fill that space and airtime, answer important questions, shed light on hot topics–everything from child care to addiction, behavioral problems to the latest tech devices, living green to ways of saving money. Think about it: The media needs an expert to turn to in almost every field. Today the public wants to hear from somebody who is an expert in a particular area, not just from a news commentator.
Why are you reading what someone else in your field is saying? Shouldn’t you be the one being interviewed?
Establishing yourself
So how do these media outlets know to call you?
Because you’ve established yourself as an expert. How? Speak about your business and the latest trends in your field before local organizations, including:
community and civic groups
churches and other houses of worship
schools and PTAs
senior citizens’ groups
business groups like the chamber of commerce
trade associations
You can speak before these groups on an annual or a semi-annual basis. Most groups are happy to hear from someone who would like to present a free program. Talk about something in your business that is topical, something that people are hearing about in the news. Give them your take on the subject. Let them ask questions, and be ready to answer the tough ones. Show that you have solutions, that you really know your topic, that you really know your business.
Bring some material along that you can hand out to people about the topic you’re discussing. Preferably, distribute something you have written on the topic, with your name, your company’s name, and all your contact information printed on it.
Send out press releases each time you speak. They may not always get in the local newspaper or on TV, but the press release will keep reminding the local media that you are out there talking about this topic. Make sure you include the date, time, place, and topic of your talk, and which group you are addressing. Always include a way for the media to get in touch with you (including by phone and by e-mail). Make sure your press release contains your company name and what your company does. Try to send a press release out after your talk as well, highlighting some of the key points you brought out in your talk.
Write an op-ed
If something major happens in your field of expertise on the local, state, national, or global stage, send out a short op-ed piece to your local news media about the topic and your views on it. See if your local newspaper would be interested in having you write a guest column on the event or trend. If not, you could write a pointed letter to the editor about what happened. Be sure to sign your guest column or letter to the editor with your name, your title, and your company’s name. Your letter to the editor may not always get published, but the editors will see your name and that keeps your name on their minds.
Editors will put your name and contact information on file, and when they want to do a story on the topic, they will have a reporter contact you. When a big story breaks, there usually isn’t time to start looking for experts. So reporters are going to go to the experts they know, people they’re familiar with. Any time you do get quoted, that’s free publicity for you. It puts your name out in the public, ahead of your competitors. You’re not only viewed as being in a particular business, but as someone who really knows your field. It’s the all-important credibility factor.
If the news media goes to you for your opinion, then when people in the community need that expertise, they’re going to turn to you as well.
Keep in mind that the media can tell if you really know your stuff. So stay on top of all the trends, have the latest information at your fingertips, be on top of your game at all times.
The benefits
If you’re an expert and your views are out there for the public to see, that will translate into additional business. It’s not being a publicity hound, it’s just good marketing and good marketing is a sound business practice. Prospective customers and clients can’t avail themselves of your talents and expertise if they don’t know you exist.
SEEK OUT FREE LISTINGS
There are more free listings for businesses and services than ever before. Are you taking advantage of all these free listings? You should be.
A free listing is free publicity. It’s worth taking the time to research the free listings in your area and make sure your business is listed. Free listings are available in the brochures, newsletters, and websites of non-profit organizations and government agencies, on municipal websites, and in business directories.
Where to find these listings
Websites promoting a particular town or county often include listings of services and links to the websites of companies offering those services, especially if your company offers a free service of some kind, like a home energy survey.
Websites of non-profit organizations like animal rescue groups might be looking to include the names of companies in the immediate area that work with animals, such as obedience schools, doggie day care centers, kennels, and groomers. Neighborhood watch programs are happy to include links to area locksmiths, security services, and emergency clinics.
Sometimes local weekly newspapers or pennysavers will run free listings of businesses or services offered in a particular area.
Realtors and town clerks publish newcomer’s guides that are given out free to people who move into the community, and area services are listed in these guides. The guides help newcomers get acquainted with the area. These are good places to be listed, and editors of these guides are usually looking for information they can include in these publications. It’s a way of getting your business name out to people as soon as they move into the area.
If you provide a service to a targeted group, sometimes these groups have a tool they use to communicate with their membership. Do you have a business or provide a service of particular interest to senior citizens? The local senior citizens’ group might have a newsletter that contains a list of these businesses or service providers. Have a business or provide a service that new moms might be interested in? Many communities have groups for new moms; some hospitals sponsor these groups as well. They, too, might have a newsletter or do mailings or e-mailings to let members know about a business or service in their area that caters to them.
Once again, it may take some research to find these groups, but the time you spend will be well worth it, when you see new customers streaming through the door.
The benefits
These free listings often go to a targeted audience, a mailing list or group of people you otherwise couldn’t get to. May not even know about. If the listings are contained in a brochure or newsletter, it’s printed at no cost to you. If the brochure or newsletter is mailed out, the mailing doesn’t cost you anything. If it’s e-mailed, it’s sent to e-mail addresses you probably don’t have, wouldn’t have a way of getting, and it probably will be opened by the recipients because it’s coming from a person or an organization they know and trust. Providing this information to these lists is actually doing something to help the community or the organization you’re providing it to. It’s a completely win-win situation.
MAKE THE MOST OF YOUR BUSINESS CARDS
You do business in lots of places. You get to know many people. Will they help you promote your business if you help promote theirs?
Have a special business card printed up that not only has the essentials, like your business name, address, phone number, website, and e-mail address, but also lists the services you offer and the type of products you carry. Use both sides of the card if you have to. Carry a lot of these cards with you. Always keep a supply in your car. Then leave the cards wherever you do business, especially in places where there’s a lot of foot traffic.
Where to put these cards
Think of all the places where you do business every day and see if you can display your cards there.
The local coffee shop.
The newspaper store.
Restaurants you patronize.
Your hair salon or barber shop.
The local pizza parlor.
Your drugstore.
Your doctor’s office.
The liquor store.
Your veterinarian’s office.
The dry cleaners.
The local hardware store.
Any business where you have a special working relationship might let you display your business cards, and you can offer to display their cards in return. The possibilities are limitless.
Don’t forget to print up this same kind of business card for your employees, and ask them to put them out wherever they can. Increased business benefits the whole company.
The benefits
Exchanging business cards is a simple, inexpensive and effective way of getting the word out about your business. Not only are you gaining free additional exposure, but these other businesses are, too. You both can get new business by spreading the word among an array of different customers, people who you might not come in contact with any other way.
In addition, you are providing another service to your customers by letting them know about a business in the area that they may need. People are always looking for referrals, and this is a great way to help them out.
This allows you to network with other businesses as well as networking with potential customers. It’s basically a form of word of mouth advertising.
TYING IT ALL TOGETHER
These are some surefire ways of marketing your business. Sound like a lot of work? It really isn’t.
Once you set up a solid marketing program, after a while it will take on a life of its own. Sure, you’ll have to tweak it every now and then. But once you get into the swing of sending out press releases, knowing who to contact in the media, making sure the media knows how to contact you, identifying promising speaking opportunities, having your written material ready to hand out, and knowing where to put out your business cards, your marketing campaign will become a fully functioning component of your business that will probably take a minimal amount of your time but will have a major impact on your client base.
Look at all the work you’re putting into establishing your business. Isn’t it worth the effort to market it as well? Your business is your product. Marketing is how you sell it.
www.credila.com
Wednesday, August 4, 2010
UC Berkeley MBA Students Collaborate on Innovative Incubator
Have you heard of The Hub? Chances are if you live outside of Europe you haven’t – until now. Thanks to a group of forward thinking business visionaries, including a group of UC Berkeley MBA candidates, on September 1st the first Hub space in the United States opened in San Francisco. This unique model provides work and event space ‘for social innovators to work, meet, connect and inspire’.
What is The Hub?
Hubs are member-based work and event spaces where social entrepreneurs, freelance professionals, artists, funders, students, mentors, and community leaders can work and interact. Working together, it’s hoped these groups will access market opportunities and capital, build community, and scale ideas.
Hubs are a type of co-working space in which members receive a set of tools and services from a community of professional hosts, mentors and local enterprises who are passionate about supporting innovative ideas. Depending on the location, Hub centers may offer donated legal services, mentor office hours, and unlimited coffee. Aside from the shared services, the real benefit to Hub members is the business incubator environment.
History of The Hub
The Hub began four years ago in London and quickly spread to 18 cities and across four continents. Today, there are nearly 4,000 Members of The Hub, interconnected by a place-based and online network. The Hub Bay Area is the first Hub location in the United States and was started in partnership with Hub Global by a San Francisco-based team who founded Good Capital and The Social Capital Markets Conference (SoCap).
“We are thrilled to be working with the people from Good Capital and SoCap, and the stellar team they’ve put together,” said Jonathan Robinson, co-founder of The Hub Global. “We have known them for years and are impressed at what they have accomplished at the forefront of a new kind of investing, and at the way they have been able to convene and build strong community.”
MBA Students Integral to United State’s First Hub
Hub Bay Area was designed by a team of architects, Hub Members, IDEO and MBA students at UC Berkeley’s Haas Business School. The space at the David Brower Center features collaborative workspaces, meeting rooms, private phones booths, kitchen and cafe, and lounge areas that reflect the dynamic working needs of its members.
Money, Mobs and Media
Being part of The Hub community includes access to their Innovation Series that will regularly produce interactive events focused on inspiration, aspiration and operation of social change. This summer, before the doors even opened, The Hub presented Money, Mobs, and Media, a panel featuring the founders of Kiva, Virgance, and Change.org. They discussed ways to create and scale community-driven non-profit and for-profit social enterprises.
“We are providing a home, inspiring community and support structure for those who are building solutions for people and planet. By connecting change-makers, sharing resources, and cultivating new ideas, we can massively increase the scale the impact of our collective work,” says Alex Michel, Managing Director of Hub Bay Area.
The Future of Hub Bay Area
Plans are in place to extend Hub Bay Area to the Mission District in San Francisco in early 2010, and into the South Bay in 2011.
“Bringing the Hub concept to the Bay Area and beyond is a natural extension of what we are already doing,” says Kevin Jones, a founder of both Good Capital and SoCap. “We convene many of the people who are making the social capital market happen in an annual conference, but The Hub is where the rubber meets the road every day of the year.”
www.credila.com
What is The Hub?
Hubs are member-based work and event spaces where social entrepreneurs, freelance professionals, artists, funders, students, mentors, and community leaders can work and interact. Working together, it’s hoped these groups will access market opportunities and capital, build community, and scale ideas.
Hubs are a type of co-working space in which members receive a set of tools and services from a community of professional hosts, mentors and local enterprises who are passionate about supporting innovative ideas. Depending on the location, Hub centers may offer donated legal services, mentor office hours, and unlimited coffee. Aside from the shared services, the real benefit to Hub members is the business incubator environment.
History of The Hub
The Hub began four years ago in London and quickly spread to 18 cities and across four continents. Today, there are nearly 4,000 Members of The Hub, interconnected by a place-based and online network. The Hub Bay Area is the first Hub location in the United States and was started in partnership with Hub Global by a San Francisco-based team who founded Good Capital and The Social Capital Markets Conference (SoCap).
“We are thrilled to be working with the people from Good Capital and SoCap, and the stellar team they’ve put together,” said Jonathan Robinson, co-founder of The Hub Global. “We have known them for years and are impressed at what they have accomplished at the forefront of a new kind of investing, and at the way they have been able to convene and build strong community.”
MBA Students Integral to United State’s First Hub
Hub Bay Area was designed by a team of architects, Hub Members, IDEO and MBA students at UC Berkeley’s Haas Business School. The space at the David Brower Center features collaborative workspaces, meeting rooms, private phones booths, kitchen and cafe, and lounge areas that reflect the dynamic working needs of its members.
Money, Mobs and Media
Being part of The Hub community includes access to their Innovation Series that will regularly produce interactive events focused on inspiration, aspiration and operation of social change. This summer, before the doors even opened, The Hub presented Money, Mobs, and Media, a panel featuring the founders of Kiva, Virgance, and Change.org. They discussed ways to create and scale community-driven non-profit and for-profit social enterprises.
“We are providing a home, inspiring community and support structure for those who are building solutions for people and planet. By connecting change-makers, sharing resources, and cultivating new ideas, we can massively increase the scale the impact of our collective work,” says Alex Michel, Managing Director of Hub Bay Area.
The Future of Hub Bay Area
Plans are in place to extend Hub Bay Area to the Mission District in San Francisco in early 2010, and into the South Bay in 2011.
“Bringing the Hub concept to the Bay Area and beyond is a natural extension of what we are already doing,” says Kevin Jones, a founder of both Good Capital and SoCap. “We convene many of the people who are making the social capital market happen in an annual conference, but The Hub is where the rubber meets the road every day of the year.”
www.credila.com
New Tool in the Search for Better B School Candidates
Students have a new way to demonstrate their potential to succeed in business school. Along with GMAT scores, essays, and exhaustive applications, potential MBA candidates can now submit the results of personality testing directly to graduate programs. And while the use of this new technology is still a student choice, if the idea takes off you can expect graduate schools to begin requiring the personality test results as part of the standard package.
The Personal Potential Index
Educational Testing Service (ETS) has created the ETS Personal Potential Index (ETS PPI), a web-based evaluation system that provides graduate applicants ratings on specific personal attributes deemed by graduate and professional school deans and faculty to be critical for academic success.
The tool is the first of its kind to evaluate students’ noncognitive or personal attributes. Specifically, the testing process measures:
Knowledge and Creativity
Communication Skills
Teamwork
Resilience
Planning and Organization
Ethics and Integrity.
These “soft skills” are considered essential for academic success. The launch of ETS PPI marks the first large-scale use of noncognitive measures for admissions in higher education.
Michael L. Jeffries, Associate Dean of Students at the University of Illinois, Urbana-Champaign, and Director of McNair Scholars & Minority Student Affairs, says ETS PPI will help identify candidates that might otherwise have been missed, while expanding opportunities for a diverse range of students. The McNair Scholars Program is a national initiative aimed at increasing the number of first-generation, low-income and/or underrepresented students in Ph.D. programs.
“The graduate community needs to continue to reduce barriers to graduate education and allow more underrepresented scholars to join the ranks of the professoriate,” explains Jeffries. “To the extent that the ETS PPI will broaden opportunities for students, it is something that I strongly support.”
Early Evidence of Success
Based on more than a decade of research, ETS PPI was developed in response to requests from graduate deans and admissions professionals to address a need for noncognitive measures to evaluate applicants. The development and introduction of ETS PPI comes with the full support of the independent Graduate Record Examinations (GRE) Board.
ETS PPI has been piloted for the past three years through the National Hispanic Research Center’s Project 1000, a program based at the University of Arizona that seeks to increase the number of underrepresented students in graduate school. ETS PPI also was successfully used during this time by ETS for selecting candidates for its summer intern program.
According to David G. Payne, Ph.D., Vice President and COO in the ETS Higher Education & School Assessments Division, research indicates that achievement gaps that exist in standardized tests do not exist in noncognitive measures, which is why ETS PPI is seen as a tool that may help to level the playing field for students seeking graduate and professional degrees, such as an MBA.
“Solid GRE scores and undergraduate grades are very important, but they don’t provide the complete picture of a candidate’s potential,” says Payne. “We’ve known for some time, thanks to research and anecdotal evidence, that qualities like resilience and teamwork were indicators of success in graduate school. The problem was how to measure them effectively. But now, with the introduction of ETS PPI, we have a tool that allows for accurate and valid measures of these critical personal attributes.”
Ready to Be Tested?
Students who have registered for the GRE General Test after May 1, 2009 will have the option of using ETS PPI and sending up to four ETS PPI evaluation reports at no additional cost. ETS PPI is not exclusive to GRE registrants. It is also available to past GRE test takers and others for a fee of $20 per report.
Student can create an ETS PPI profile online as well as contact information for the evaluators he or she would like to complete an ETS PPI evaluation. ETS then sends an e-mail to each evaluator inviting them to access the ETS PPI system to complete the student’s evaluation. Evaluators log in to the system and respond to a series of statements to rate the student on the six personal attributes and to provide an overall rating of the student. The student is notified when each evaluation has been completed and can choose the schools to which the evaluations will be sent. ETS creates an evaluation report, and sends it to the institutions designated by the student.
Find out more here: www.ets.org/ppi
The way ETS describes the process, it sounds like an extended reference letter, but apparently the science supports the results.
What do you think about personality trait testing as a criteria for grad school admission?
www.credila.com
The Personal Potential Index
Educational Testing Service (ETS) has created the ETS Personal Potential Index (ETS PPI), a web-based evaluation system that provides graduate applicants ratings on specific personal attributes deemed by graduate and professional school deans and faculty to be critical for academic success.
The tool is the first of its kind to evaluate students’ noncognitive or personal attributes. Specifically, the testing process measures:
Knowledge and Creativity
Communication Skills
Teamwork
Resilience
Planning and Organization
Ethics and Integrity.
These “soft skills” are considered essential for academic success. The launch of ETS PPI marks the first large-scale use of noncognitive measures for admissions in higher education.
Michael L. Jeffries, Associate Dean of Students at the University of Illinois, Urbana-Champaign, and Director of McNair Scholars & Minority Student Affairs, says ETS PPI will help identify candidates that might otherwise have been missed, while expanding opportunities for a diverse range of students. The McNair Scholars Program is a national initiative aimed at increasing the number of first-generation, low-income and/or underrepresented students in Ph.D. programs.
“The graduate community needs to continue to reduce barriers to graduate education and allow more underrepresented scholars to join the ranks of the professoriate,” explains Jeffries. “To the extent that the ETS PPI will broaden opportunities for students, it is something that I strongly support.”
Early Evidence of Success
Based on more than a decade of research, ETS PPI was developed in response to requests from graduate deans and admissions professionals to address a need for noncognitive measures to evaluate applicants. The development and introduction of ETS PPI comes with the full support of the independent Graduate Record Examinations (GRE) Board.
ETS PPI has been piloted for the past three years through the National Hispanic Research Center’s Project 1000, a program based at the University of Arizona that seeks to increase the number of underrepresented students in graduate school. ETS PPI also was successfully used during this time by ETS for selecting candidates for its summer intern program.
According to David G. Payne, Ph.D., Vice President and COO in the ETS Higher Education & School Assessments Division, research indicates that achievement gaps that exist in standardized tests do not exist in noncognitive measures, which is why ETS PPI is seen as a tool that may help to level the playing field for students seeking graduate and professional degrees, such as an MBA.
“Solid GRE scores and undergraduate grades are very important, but they don’t provide the complete picture of a candidate’s potential,” says Payne. “We’ve known for some time, thanks to research and anecdotal evidence, that qualities like resilience and teamwork were indicators of success in graduate school. The problem was how to measure them effectively. But now, with the introduction of ETS PPI, we have a tool that allows for accurate and valid measures of these critical personal attributes.”
Ready to Be Tested?
Students who have registered for the GRE General Test after May 1, 2009 will have the option of using ETS PPI and sending up to four ETS PPI evaluation reports at no additional cost. ETS PPI is not exclusive to GRE registrants. It is also available to past GRE test takers and others for a fee of $20 per report.
Student can create an ETS PPI profile online as well as contact information for the evaluators he or she would like to complete an ETS PPI evaluation. ETS then sends an e-mail to each evaluator inviting them to access the ETS PPI system to complete the student’s evaluation. Evaluators log in to the system and respond to a series of statements to rate the student on the six personal attributes and to provide an overall rating of the student. The student is notified when each evaluation has been completed and can choose the schools to which the evaluations will be sent. ETS creates an evaluation report, and sends it to the institutions designated by the student.
Find out more here: www.ets.org/ppi
The way ETS describes the process, it sounds like an extended reference letter, but apparently the science supports the results.
What do you think about personality trait testing as a criteria for grad school admission?
www.credila.com
UC Berkeley MBA Students Collaborate on Innovative Incubator
Have you heard of The Hub? Chances are if you live outside of Europe you haven’t – until now. Thanks to a group of forward thinking business visionaries, including a group of UC Berkeley MBA candidates, on September 1st the first Hub space in the United States opened in San Francisco. This unique model provides work and event space ‘for social innovators to work, meet, connect and inspire’.
What is The Hub?
Hubs are member-based work and event spaces where social entrepreneurs, freelance professionals, artists, funders, students, mentors, and community leaders can work and interact. Working together, it’s hoped these groups will access market opportunities and capital, build community, and scale ideas.
Hubs are a type of co-working space in which members receive a set of tools and services from a community of professional hosts, mentors and local enterprises who are passionate about supporting innovative ideas. Depending on the location, Hub centers may offer donated legal services, mentor office hours, and unlimited coffee. Aside from the shared services, the real benefit to Hub members is the business incubator environment.
History of The Hub
The Hub began four years ago in London and quickly spread to 18 cities and across four continents. Today, there are nearly 4,000 Members of The Hub, interconnected by a place-based and online network. The Hub Bay Area is the first Hub location in the United States and was started in partnership with Hub Global by a San Francisco-based team who founded Good Capital and The Social Capital Markets Conference (SoCap).
“We are thrilled to be working with the people from Good Capital and SoCap, and the stellar team they’ve put together,” said Jonathan Robinson, co-founder of The Hub Global. “We have known them for years and are impressed at what they have accomplished at the forefront of a new kind of investing, and at the way they have been able to convene and build strong community.”
MBA Students Integral to United State’s First Hub
Hub Bay Area was designed by a team of architects, Hub Members, IDEO and MBA students at UC Berkeley’s Haas Business School. The space at the David Brower Center features collaborative workspaces, meeting rooms, private phones booths, kitchen and cafe, and lounge areas that reflect the dynamic working needs of its members.
Money, Mobs and Media
Being part of The Hub community includes access to their Innovation Series that will regularly produce interactive events focused on inspiration, aspiration and operation of social change. This summer, before the doors even opened, The Hub presented Money, Mobs, and Media, a panel featuring the founders of Kiva, Virgance, and Change.org. They discussed ways to create and scale community-driven non-profit and for-profit social enterprises.
“We are providing a home, inspiring community and support structure for those who are building solutions for people and planet. By connecting change-makers, sharing resources, and cultivating new ideas, we can massively increase the scale the impact of our collective work,” says Alex Michel, Managing Director of Hub Bay Area.
The Future of Hub Bay Area
Plans are in place to extend Hub Bay Area to the Mission District in San Francisco in early 2010, and into the South Bay in 2011.
“Bringing the Hub concept to the Bay Area and beyond is a natural extension of what we are already doing,” says Kevin Jones, a founder of both Good Capital and SoCap. “We convene many of the people who are making the social capital market happen in an annual conference, but The Hub is where the rubber meets the road every day of the year.”
www.credila.com
What is The Hub?
Hubs are member-based work and event spaces where social entrepreneurs, freelance professionals, artists, funders, students, mentors, and community leaders can work and interact. Working together, it’s hoped these groups will access market opportunities and capital, build community, and scale ideas.
Hubs are a type of co-working space in which members receive a set of tools and services from a community of professional hosts, mentors and local enterprises who are passionate about supporting innovative ideas. Depending on the location, Hub centers may offer donated legal services, mentor office hours, and unlimited coffee. Aside from the shared services, the real benefit to Hub members is the business incubator environment.
History of The Hub
The Hub began four years ago in London and quickly spread to 18 cities and across four continents. Today, there are nearly 4,000 Members of The Hub, interconnected by a place-based and online network. The Hub Bay Area is the first Hub location in the United States and was started in partnership with Hub Global by a San Francisco-based team who founded Good Capital and The Social Capital Markets Conference (SoCap).
“We are thrilled to be working with the people from Good Capital and SoCap, and the stellar team they’ve put together,” said Jonathan Robinson, co-founder of The Hub Global. “We have known them for years and are impressed at what they have accomplished at the forefront of a new kind of investing, and at the way they have been able to convene and build strong community.”
MBA Students Integral to United State’s First Hub
Hub Bay Area was designed by a team of architects, Hub Members, IDEO and MBA students at UC Berkeley’s Haas Business School. The space at the David Brower Center features collaborative workspaces, meeting rooms, private phones booths, kitchen and cafe, and lounge areas that reflect the dynamic working needs of its members.
Money, Mobs and Media
Being part of The Hub community includes access to their Innovation Series that will regularly produce interactive events focused on inspiration, aspiration and operation of social change. This summer, before the doors even opened, The Hub presented Money, Mobs, and Media, a panel featuring the founders of Kiva, Virgance, and Change.org. They discussed ways to create and scale community-driven non-profit and for-profit social enterprises.
“We are providing a home, inspiring community and support structure for those who are building solutions for people and planet. By connecting change-makers, sharing resources, and cultivating new ideas, we can massively increase the scale the impact of our collective work,” says Alex Michel, Managing Director of Hub Bay Area.
The Future of Hub Bay Area
Plans are in place to extend Hub Bay Area to the Mission District in San Francisco in early 2010, and into the South Bay in 2011.
“Bringing the Hub concept to the Bay Area and beyond is a natural extension of what we are already doing,” says Kevin Jones, a founder of both Good Capital and SoCap. “We convene many of the people who are making the social capital market happen in an annual conference, but The Hub is where the rubber meets the road every day of the year.”
www.credila.com
Dingman Center Names a New Angel for Entrepreneurs
Earlier this month, the Dingman Center for Entrepreneurship at the University of Maryland’s Robert H. Smith School of Business announced that Craig Dye will take over as Director of Investments. In this new position, Dye will lead the Dingman Center’s Capital Access Network, which provides early-stage funding (up to $1.5 million) to area start-ups. This type of angel investment captial is crucial in nurturing start-up companies.
“Craig will help us continue the center’s role in supporting economic development and innovation throughout Maryland,” said Asher Epstein, managing director of the Dingman Center for Entrepreneurship. “His investment and entrepreneurial experience brings a valued set of skills to lead the Capital Access Network’s growth.”
Economic Growth Through Entrepreneurship
The Capital Access Network is one of the Mid-Atlantic’s largest angel investment networks linking entrepreneurs with potential investors. Together with regional tech councils, incubators and state-funded institutions, Dye will work to expand the Dingman Center’s regional presence and outreach across the university’s campus.
In addition to providing early-stage capital, the Dingman Center provides MBA and undergraduate students at the Smith School with practical experiences and opportunities to pitch their business ideas, obtain feedback from experienced entrepreneurs-in-residence, and access funding.
Angel Investors vs. Venture Capitalists
Angel investors and venture capitalists are similar, but there’s are a couple of key distincitons. Angel investors put their own money into a business, and it is typically less than what can be raised from the venture capitalists. An angel investor is any individual who provides start-up capital in exchange for debt or equity. Sometimes they organize into groups or networks to share research and pool their investment capital, but even when they do, it’s typically their own money on the line. This differs from venture capitalists, who manage the pooled money of others.
The amount invested by angels fills an important gap between the resources entrepreneurs can raise on their own and formal venture capital, which usually considers only very high dollar investments. Angel investment is sometimes a viable ’second round’ of financing for high-growth start-ups.
Like companies who receive venture capital, their start-up nature makes angel investments high risk. This, plus the fact that if the business is successful, the investment will likely be diluted by future investment (venture capital) rounds, requires that angel investments provide a high return. Similar to getting connected with venture capital, companies meet angel investors by referrals, at investor conferences, and at pitch meetings organized by groups of angels.
Angels Provide More Than Money
On old Broadway, angels were the wealthy individuals who provided money for theatrical productions. Business has borrowed the term. Angel investors may be retired entrepreneurs or executives interested in mentoring the future generation and leveraging their experience and contacts without committing to full time employment. Many angel investors provide much more than capital in the form of advice and access to their powerful networks.
If you’ve run out of cash, but don’t yet need millions, you might be ready for an angel investor. And if you’re in Maryland, the Dingman Center might be able to help you out!
www.credila.com
“Craig will help us continue the center’s role in supporting economic development and innovation throughout Maryland,” said Asher Epstein, managing director of the Dingman Center for Entrepreneurship. “His investment and entrepreneurial experience brings a valued set of skills to lead the Capital Access Network’s growth.”
Economic Growth Through Entrepreneurship
The Capital Access Network is one of the Mid-Atlantic’s largest angel investment networks linking entrepreneurs with potential investors. Together with regional tech councils, incubators and state-funded institutions, Dye will work to expand the Dingman Center’s regional presence and outreach across the university’s campus.
In addition to providing early-stage capital, the Dingman Center provides MBA and undergraduate students at the Smith School with practical experiences and opportunities to pitch their business ideas, obtain feedback from experienced entrepreneurs-in-residence, and access funding.
Angel Investors vs. Venture Capitalists
Angel investors and venture capitalists are similar, but there’s are a couple of key distincitons. Angel investors put their own money into a business, and it is typically less than what can be raised from the venture capitalists. An angel investor is any individual who provides start-up capital in exchange for debt or equity. Sometimes they organize into groups or networks to share research and pool their investment capital, but even when they do, it’s typically their own money on the line. This differs from venture capitalists, who manage the pooled money of others.
The amount invested by angels fills an important gap between the resources entrepreneurs can raise on their own and formal venture capital, which usually considers only very high dollar investments. Angel investment is sometimes a viable ’second round’ of financing for high-growth start-ups.
Like companies who receive venture capital, their start-up nature makes angel investments high risk. This, plus the fact that if the business is successful, the investment will likely be diluted by future investment (venture capital) rounds, requires that angel investments provide a high return. Similar to getting connected with venture capital, companies meet angel investors by referrals, at investor conferences, and at pitch meetings organized by groups of angels.
Angels Provide More Than Money
On old Broadway, angels were the wealthy individuals who provided money for theatrical productions. Business has borrowed the term. Angel investors may be retired entrepreneurs or executives interested in mentoring the future generation and leveraging their experience and contacts without committing to full time employment. Many angel investors provide much more than capital in the form of advice and access to their powerful networks.
If you’ve run out of cash, but don’t yet need millions, you might be ready for an angel investor. And if you’re in Maryland, the Dingman Center might be able to help you out!
www.credila.com
Tuesday, August 3, 2010
Average salary of IIM-A exec programme up 30%
The fourth batch of Post Graduate Programme in Management for Executives (PGPX) in Indian Institute of Management-Ahmedabad (IIM-A) has seen an average annual salary of Rs 26.1 lakh — an increase of about 30 per cent over the previous year’s average of 20.16 lakh. The fees for the one-year full-time programme is Rs 19.35 lakh.
Of the 66 students seeking placements, 64 have been successfully placed. “The two students remaining to be placed from the 2010 batch have niche skills and location constraints and have rejected one offer each as they are looking for well-targeted positions in specific industries. The institute continues to provide full support in their career search efforts by facilitating interaction with firms that express interest,” a release from the institute said.
“As per the norms followed by international MBA programmes, placement statistics are reported at the end of three months after graduation. Students who participated in the placement process received 1.77 offers per person,” stated the release.
While information technology (IT), IT-enabled services and consulting were the industries of choice for the batch, project management, consulting, operations and business development were the top functions chosen.
Eight students of the batch are pursuing their dreams through entrepreneurial ventures in a variety of fields such as clean energy and healthcare.
The batch had an average work experience of 10 years with 80 per cent of the students having spent an average of five years working abroad. “The placements this year have shown that recruiters consider the IIM-A PGPX programme to be a source of top-notch middle to senior level executive talent. We intend to keep building on this momentum and invest in learning about recruiter needs and preferences,” said Saral Mukherjee, chairman of placements, IIM-A.
The batch attracted a diverse pool of recruiters from large multinational companies and conglomerates to small and medium enterprises and even start-up firms. Other recruiters included McKinsey, Goldman Sachs, Axis Bank, Google, Amazon, TCS, IBM, Wipro, Mahindra Satyam, HCL, Infosys BPO, Polaris, Genpact, Hero Honda, Mahindra and Mahindra and RIL.
“As per the norms followed by international MBA programmes, placement statistics are reported at the end of three months after graduation. Students who participated in the placement process received 1.77 offers per person,” stated the release.
While information technology (IT), IT-enabled services and consulting were the industries of choice for the batch, project management, consulting, operations and business development were the top functions chosen.
Eight students of the batch are pursuing their dreams through entrepreneurial ventures in a variety of fields such as clean energy and healthcare.
The batch had an average work experience of 10 years with 80 per cent of the students having spent an average of five years working abroad. “The placements this year have shown that recruiters consider the IIM-A PGPX programme to be a source of top-notch middle to senior level executive talent. We intend to keep building on this momentum and invest in learning about recruiter needs and preferences,” said Saral Mukherjee, chairman of placements, IIM-A.
The batch attracted a diverse pool of recruiters from large multinational companies and conglomerates to small and medium enterprises and even start-up firms. Other recruiters included McKinsey, Goldman Sachs, Axis Bank, Google, Amazon, TCS, IBM, Wipro, Mahindra Satyam, HCL, Infosys BPO, Polaris, Genpact, Hero Honda, Mahindra and Mahindra and RIL.
www.credila.com
Of the 66 students seeking placements, 64 have been successfully placed. “The two students remaining to be placed from the 2010 batch have niche skills and location constraints and have rejected one offer each as they are looking for well-targeted positions in specific industries. The institute continues to provide full support in their career search efforts by facilitating interaction with firms that express interest,” a release from the institute said.
“As per the norms followed by international MBA programmes, placement statistics are reported at the end of three months after graduation. Students who participated in the placement process received 1.77 offers per person,” stated the release.
While information technology (IT), IT-enabled services and consulting were the industries of choice for the batch, project management, consulting, operations and business development were the top functions chosen.
Eight students of the batch are pursuing their dreams through entrepreneurial ventures in a variety of fields such as clean energy and healthcare.
The batch had an average work experience of 10 years with 80 per cent of the students having spent an average of five years working abroad. “The placements this year have shown that recruiters consider the IIM-A PGPX programme to be a source of top-notch middle to senior level executive talent. We intend to keep building on this momentum and invest in learning about recruiter needs and preferences,” said Saral Mukherjee, chairman of placements, IIM-A.
The batch attracted a diverse pool of recruiters from large multinational companies and conglomerates to small and medium enterprises and even start-up firms. Other recruiters included McKinsey, Goldman Sachs, Axis Bank, Google, Amazon, TCS, IBM, Wipro, Mahindra Satyam, HCL, Infosys BPO, Polaris, Genpact, Hero Honda, Mahindra and Mahindra and RIL.
“As per the norms followed by international MBA programmes, placement statistics are reported at the end of three months after graduation. Students who participated in the placement process received 1.77 offers per person,” stated the release.
While information technology (IT), IT-enabled services and consulting were the industries of choice for the batch, project management, consulting, operations and business development were the top functions chosen.
Eight students of the batch are pursuing their dreams through entrepreneurial ventures in a variety of fields such as clean energy and healthcare.
The batch had an average work experience of 10 years with 80 per cent of the students having spent an average of five years working abroad. “The placements this year have shown that recruiters consider the IIM-A PGPX programme to be a source of top-notch middle to senior level executive talent. We intend to keep building on this momentum and invest in learning about recruiter needs and preferences,” said Saral Mukherjee, chairman of placements, IIM-A.
The batch attracted a diverse pool of recruiters from large multinational companies and conglomerates to small and medium enterprises and even start-up firms. Other recruiters included McKinsey, Goldman Sachs, Axis Bank, Google, Amazon, TCS, IBM, Wipro, Mahindra Satyam, HCL, Infosys BPO, Polaris, Genpact, Hero Honda, Mahindra and Mahindra and RIL.
www.credila.com
Business Majors: Is the Entrepreneurship Focus Worthwhile?
This is a guest post by Dee Barizo. He operates The Best Degrees, an online degree site.
We’ve heard the dire predictions and alarming statistics for people starting their own businesses. Most operations fail within a few years and leave the entrepreneur deeply in debt. Sadly, this leaves the business major with a difficult decision in this uncertain economy. Do you play it safe by specializing in accounting or marketing, or do you study the broader field of entrepreneurship and eventually start your own company? With a business degree focused on the wide-ranging areas that form an entrepreneurship program, you may be able to beat the odds and grow your business well into the future.
Pros and Cons
First, let’s examine some pitfalls of entrepreneurship. Many people enter the world of startups with a great idea and no clue how to get it to market and turn a profit. They may be brilliant in their field but lacking in necessary business skills such as planning cash flow, developing merchandise, maintaining staff, and marketing products. Some owners may have the luxury of learning on the job, but even the best idea can collapse if there is no business foundation to support it. Those are some of the strictly business risks; your personal life may be in similar peril if you spend every waking moment dealing with your business.
But then there are the possible rewards. Who doesn’t want to be his own boss and skip the politics of larger corporations? Who among us doesn’t want to experience the benefits of entrepreneurship – financial, professional, and emotional? You can improve your personal bottom line, become a leader in a field, and provide support to your community. Win, win, win.
The pitfall paragraph is longer than the one about rewards, but don’t let that alarm you. One of the snares mentioned above is actually the key to preparing yourself for success: knowledge.
Knowledge is Key
Entrepreneurs have long been a valuable resource in our economy, and entrepreneurship degree programs can guide you toward effective business management with courses in product development, capital management, accounting, marketing, and finance. Most importantly for the startup business, quality entrepreneur degree concentrations will produce graduates who can write a practical business plan that is the template of a successful enterprise. In addition, top entrepreneurial colleges support their students with clubs, mentorship programs, and even business-plan competitions with prize money awarded.
Risk and reward, these are the ingredients of entrepreneurship that you must balance, but you can tip the scales by arming yourself with relevant knowledge and skills. You will be responsible for every aspect of your company’s success, from negotiating loans to hiring staff, and entrepreneurship programs offered by quality business schools can help you develop technical expertise, business theory, and people skills. With the degree and the comprehensive knowledge of business that it represents, you will be equipped to enjoy the challenging and rewarding experience of running your own business. Best of all, you determine what constitutes the true reward of entrepreneurship.
www.credila.com
We’ve heard the dire predictions and alarming statistics for people starting their own businesses. Most operations fail within a few years and leave the entrepreneur deeply in debt. Sadly, this leaves the business major with a difficult decision in this uncertain economy. Do you play it safe by specializing in accounting or marketing, or do you study the broader field of entrepreneurship and eventually start your own company? With a business degree focused on the wide-ranging areas that form an entrepreneurship program, you may be able to beat the odds and grow your business well into the future.
Pros and Cons
First, let’s examine some pitfalls of entrepreneurship. Many people enter the world of startups with a great idea and no clue how to get it to market and turn a profit. They may be brilliant in their field but lacking in necessary business skills such as planning cash flow, developing merchandise, maintaining staff, and marketing products. Some owners may have the luxury of learning on the job, but even the best idea can collapse if there is no business foundation to support it. Those are some of the strictly business risks; your personal life may be in similar peril if you spend every waking moment dealing with your business.
But then there are the possible rewards. Who doesn’t want to be his own boss and skip the politics of larger corporations? Who among us doesn’t want to experience the benefits of entrepreneurship – financial, professional, and emotional? You can improve your personal bottom line, become a leader in a field, and provide support to your community. Win, win, win.
The pitfall paragraph is longer than the one about rewards, but don’t let that alarm you. One of the snares mentioned above is actually the key to preparing yourself for success: knowledge.
Knowledge is Key
Entrepreneurs have long been a valuable resource in our economy, and entrepreneurship degree programs can guide you toward effective business management with courses in product development, capital management, accounting, marketing, and finance. Most importantly for the startup business, quality entrepreneur degree concentrations will produce graduates who can write a practical business plan that is the template of a successful enterprise. In addition, top entrepreneurial colleges support their students with clubs, mentorship programs, and even business-plan competitions with prize money awarded.
Risk and reward, these are the ingredients of entrepreneurship that you must balance, but you can tip the scales by arming yourself with relevant knowledge and skills. You will be responsible for every aspect of your company’s success, from negotiating loans to hiring staff, and entrepreneurship programs offered by quality business schools can help you develop technical expertise, business theory, and people skills. With the degree and the comprehensive knowledge of business that it represents, you will be equipped to enjoy the challenging and rewarding experience of running your own business. Best of all, you determine what constitutes the true reward of entrepreneurship.
www.credila.com
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