Franchises Opportunities and The U.S. Economy

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Here is an article worth pondering for the Negosyanting Pinoy. It takes a certain personality and style to become a successful entrepreneur. However, what does it take to become the man or woman on top? Are you the next Richard Branson or Oprah? A recent study noted some common traits top entrepreneurs share.

They believe knowledge should be shared

More than three-quarters of Canadian respondents are mentoring other entrepreneurs in some form. They value the lessons learned from these relationships, and they pass that knowledge on. Collaborating like this benefits the teacher, and the student.

They know keeping an eye on the cash prize pays off

Accessing funding is the top challenge facing entrepreneurs today, and a real stumbling block to startup success. Those who succeed do so by building strong relationships and thinking outside the financing box, looking for alternatives and opportunities long after the first “no.”

Some see opportunity where others see disruption

Success lies in the way entrepreneurs view the world. Even disruptions like the financial crisis generated opportunities for entrepreneurial leaders willing to take them. Our survey reveals entrepreneurs have at their core a unique way of viewing the world around them and acting on that view. Go Negosyanting Pinoy! We all know we can make it big all over the world.

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A report from CNN Money tells a story about an attorney that went into trading spices.  After a decade as a divorce attorney, Alexander Rhoads grew weary of “seeing people in conflict,” he says. “It took a toll on me.”

A foodie whose own kitchen is stocked with 150 seasonings, he began thinking about the spice store he loved visiting in his native Chicago. After two years studying similar shops across the world (his wife, Jennifer, a human resources director for a financial firm, did reconnaissance when she traveled for work), he leased a 1,700-square-foot store in Des Moines in early 2010.

He quit the law firm and by September opened AllSpice Culinarium, a purveyor of spices, herbs, oils, and vinegars. Premium spice shop here in the Philippines is seldom seen, perhaps opening one is a new negosyo idea.

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This is a great business idea that can be easily made with the right tools using scrap woods. A Japanese company called Kiko is now offering wooden sandals called Ashiato for kids that leave animal tracks in the sand as they walk. The website is in Japanese, but here’s what I’ve been able to figure out via Google’s translate tool: Ashiato are children’s clogs with animal footprints. Shapes available include a cat, owl, monkey, dinosaur, and gecko. Great for the beach or sandbox for fun.

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Happy New Year Everyone! Have you made any business resolutions for the New Year? While many people set personal goals based around the idea of dieting, many business owners are looking for ways to help fatten up their earnings. Reuters has posted a list of resolutions that might help inspire you.

Social Media

Do whatever it takes to get out of your comfort zone and into your “power place” to grow your business. Embrace change and new technologies, including social sites. Choose what works best for reaching your target market, and run with it. Most important: Have fun. — Starr Hall, Social Media

Sales

In 2011, show up to the meetings that you would have passed on previously. Never underestimate the power of face-to-face meetings for building stronger relationships and connections with your prospects and customers. Activity creates opportunity. — Barry Farber, Make the Sale

Starting Young

Forget the mantra of “work hard, get good grades and go to school to get a job.” For too long, young people have been force-fed this nonsense from their parents and mentors. It’s stifling their income generating potential. Gen Y needs to become the most entrepreneurial generation in history. — Scott Gerber, Never Get a “Real” Job

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Everyone seems to know that Black Friday is the shopping day after Thanksgiving day in the U.S.

However, Cyber Monday is the online analogue of Black Friday, on the Monday following Thanksgiving is still something not so popular specially here in the Philippines where we can actually participate since all orders are online.

A new poll released exclusively to dealnews by Lightspeed Research shows that one third of american shoppers still don’t know what Cyber Monday is.

That number doesn’t fluctuate much among age groups, geography or household income, although those earning over $50,000 have the most awareness.

Cyber Monday only sprang into the lexicon five years ago, promoted by the Shop.org division of the National Retail Federation as a way to spotlight Internet retail sales.

The NRF declined to comment and instead pointed to its own research showed that 80% of shoppers were familiar with the term and that nearly 100 million people shopped during that day last year. For Filipinos this is a chance to order great items from U.S. stores thru online here in the Philippines next monday. You can actually use forwarders in the U.S. to deliver your orders in the states and have it forwarded here in the Philippines.

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Birthday Parties, Weddings, here is a new twist to ice cream business here in the Philippines. At a Jonas Brothers concert in the US. Felicia Hatcher, owner of Feverish Ice Cream Trucks in Miami is a walking advertisement for her business, which puts a cool, updated spin on traditional ice cream trucks, from a story at Inc.com.

I wear these shirts with funny sayings about my business on the back such as, ‘It’s like an explosion in your mouth’,” she says. At a Jonas Brothers concert, she happened to be standing in front of a top executive at a local arena, who made a comment about her shirt. “We started up an interesting conversation about ice cream and unique ice cream trucks,” she says.

“He ended up booking an event for his daughter’s birthday party and we are now talking about us handling all the ice cream sales at his arena.” Great business idea for the Pinoy ice cream lovers market.

Photo by Feverish Ice Cream.

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With the fashion trend right now of wearing great looking flip-flops a 16 year old lady named Lindsay Phillips in the U.S. came up with the idea for a flip-flop with interchangeable straps during art class. Today, her company — Lindsay Phillips — employs 35 full-time staffers and is projected to bring in $30 million in revenue this year, reports AOLSmallbusiness.

The idea is simple — SwitchFlops are sandals with interchangeable straps. So instead of buying several pairs of sandals, customers can instead own one sandal with multiple straps. In the wake of the Great Recession, a 3-in-1 shoe (or, heck, 50-in-1) is tailor-made for shoppers on a budget.

The basic sandal itself costs $35, and additional straps are $12. Officially launched in 2007, SwitchFlops are now sold in more than 4,000 stores around the world, and Phillips’ line has evolved into other footwear like ballet flats, wedges and espadrilles. The company also makes shopping bags, scarves and sandals for children. Lindsay Phillips, the company, is currently building an overseas office.

“I bought some fun buttons and tried to put them on some sandals, but they kept falling off when I’d go to the beach, so I used some Velcro, and started lining it to the shoes,” says Phillips, who gave out her prototype sandal straps to family members and friends.

It was just a hobby at first, until a relative said, “This is really an amazing idea. You need to patent this.”

“I’m 16,” Phillips replied. “I really don’t know what a patent is. Can you help me?”

She wound up going to a sympathetic but skeptical patent attorney, who told her to do some research and make sure there wasn’t anything similar already on the market. If she couldn’t find anything, he said he would work with her. She did her research, turned up nothing, and to the attorney’s astonishment, he couldn’t find anything either. They began the process of applying for a patent. It took four years.

Phillips recalls meeting one of her customers who had eight pairs of her shoes and 30 straps, and seeing women staring at her displays like kids in a candy store, as they selected straps and matched them up with shoes. “It’s amazing to be in the store and watch it happen because everyone picks out something different,” she says.

And being different, of course, is the whole idea.

Photo by Lindsay Phillips.

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Cloth diapers is back again. In the U.S. Rachel Hall and her husband estimate that they’ve saved over $1000 by using cloth diapers on their 16 month old daughter. This savings allowed Rachel to stay home with her daughter and pursue her writing career on a freelance schedule a report from The Charleston Gazette.

The environmentally friendly aspects of cloth diapers appeal to Hall, especially after she and Charlie lived briefly in Hawaii, where recycling and trash reduction are a necessary way of life. There isn’t much room for landfills on islands.

“We became more environmentally conscious while we lived there. We were surrounded by this amazing natural beauty that we didn’t want to impact in a negative way,” she said. “When we moved back here, I realized West Virginia has the same beauty, but I hadn’t noticed it before. I didn’t want to have a negative impact on it, either.”

In May, Hall launched a business, Diaper Parties by Rachel, in which she hopes to both educate parents about the advantages of cloth diapers and to sell diapers and related products.

Hall brings a kit containing a wide array of modern cloth diapers and associated products to groups of parents, or anyone interested in child care.

“They can touch and feel the diapers,” she said. “Even people who are pretty adamantly opposed to them, if they just hear about them, especially the financial considerations, they might be interested.”

Photo by Baby Zara Diaper

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