Wednesday, 24 April 2013

INSPIRING SMALL BUSINESS STORIES 3

Liane Weintraub and Shannan Swanson of Tasty Brand 
 
 

With the current obsession with label-reading and organic ingredients, surely there must be dozens of organic baby food brands, right? That's what Los Angeles moms (and friends) Liane Weintraub and Shannan Swanson thought. But they were wrong. The pair started making organic purees for their own babies and couldn't believe how few options were available in stores. So Weintraub, 42, a local TV reporter, and Swanson, 38, a Cordon Bleu-trained chef and former cook at one of Wolfgang Puck's restaurants, got inspired to fill it. Today the brand is carried at Whole Foods, Fairway, Tops, and other chains. The company turned a profit four years after its founding, and it's on track for sales of $2.5 million this year.

INVESTORS DUMP GOLD, CRUDE AS GROWTH REALITY DAWNS


US stock futures were up 0,5%, pointing to a rebound at the Wall Street open after US stocks dropped more than 2% .N and the Standard & Poor’s 500 index had its worst day since November 7 overnight, after two bombs ripped through the crowd at the finish line of the Boston Marathon on Monday killing at least three people and injuring more than 100.

The MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0,1% after shedding as much as 1% to come closer to a 2013 low hit earlier this month, dragged down by its materials and energy sectors.

Markets were ripe for some correction after recent rallies. US stocks hit record highs, underpinned by optimism about a steady recovery in the world’s two largest economies, despite patchy economic reports. Oil and base metals were resilient despite supply capacities and investors piled up positions shorting the yen on expectations for bold monetary stimulus.

“Broadly, risk markets had been rallying at a pace not in line with a tepid global growth recovery, so in a way, they are trying to revert to levels more in line with fundamentals. It’s time to book profits from recent rallies and hoard cash,” said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory in Tokyo.

Cash gold and US gold futures plunged to their weakest in more than two years, pulling silver lower and dragging Tokyo gold futures down almost 10%.

AFRICA'S SUCCESSFUL WOMEN: DIVINE NDHLUKULA

Like I promised , here is more on Africa renowned successful Zimbabwean woman, Divine Ndhlukula.
Divine Ndhlukula is a Midlands State University MBA graduate and has a MBA (Honorary) from Women's University in Africa . She recently won the Africa Awards for Entreprenuership. Here is her journey to success in short.

After attaining an accounting diploma from an institution in Zimbabwe , she worked briefly for the government at Zimbabwe Broadcasting Corporation as an accounting officer. She went on to take up an appointment at Old mutual and later took up a job at a local insurance company in 1985. While working at these places,  she was always running around doing some small business on the side e.g.  was ordering clothes from Harare factories and selling them to colleagues at work. Within a short while, she had made enough money to buy an 8-tonne truck, which she hired out to a construction company.



As time went on, a situation cropped up where she had to rescue her  late father’s farm from being auctioned.  Her brother (who had inherited the farm according to custom) had taken a loan with a local bank which he had been unable to service, so the bank opted to auction the farm which her brother had tendered as collateral. As a result, she had to sell the truck in order to raise funds to rescue the family farm from being auctioned. The title of the farm was changed into her name and  she ventured into the farming business in 1992 and quit her job. She then took a loan against her house in Harare, to prop up the farming business and poured the loan in a maize crop that flopped due to a drought that season.

Thinking  of almost losing her house in 1995, she went back to her former employers,  Intermarket Insurance (now ZB Insurance), and asked for her job back. Since she had been one of their top performers, the company was happy to take her back. In no time she moved to the executive team.

"Let me say that right from a tender age, I had always told myself and everyone that I was going to start and run my own business which I always envisaged as a large business".

Hence the time she had stopped working, she had taken time to learn about all the critical elements of business as she had learnt her lesson the hard way. Among the various development programmes  sheenrolled for was an Entrepreneurial Development Programme which she did in 1995 and this  sharpened her entrepreneurial competences in a big way. She learned elements like opportunity seeking, to goal setting, business planning, networking etc.

Her quest to start and run her own company never dissipated and therefore, even as she was back at work, she started scanning at the various opportunities that she could see and think of.
Eventually in 1998 she  saw an opportunity in the security services sector. The opportunity was prompted by what she  had noted in this sector- a total lack of professionalism, quality and services that customers really yearned for. There were two distinct groups of security organizations: the first group was comprised of the long established and larger companies – there were about five of them at the time.

Words from her:

My advice to women all the time is: If you want a certain future, go out and create it. Conquer your fears as that is what enslaves most women. Opportunities are now galore.  We just need to roll up our sleeves, lift our feet, and walk through the door as no one will carry us.
Have a game plan and execute it with passion, determination and focus. Never mind that you are a woman. Do not think about that except as a competitive advantage. No one is going to give you anything on a silver platter. You have to work twice, thrice, five times as hard and do not lose focus. Work with your passion, it will keep you going and once you have a footing in your business, make the most of it and create the momentum and that will get rid of all the little challenges that may bog you down. Lastly, choose your team carefully and get rid of non-performers soon enough.

INSPIRING SMALL BUSINESS STORIES 2

Kenny Lao and David Weber of Rickshaw Dumpling 

Kenny Lao and David Weber met in 2002 when they were both students at NYU's Stern School of Business. They joined forces to enter the Rickshaw concept in a business plan competition in 2004. (They placed second behind a scrap-booking company that was never heard from again, as far as they know.) The partners opened their first store in 2005. Soon after, they opened a second, which quickly proved to be too ambitious. "It was a really dark time," Lao says. "It almost bankrupted us," Weber adds. After they closed that location, they decided to try a food truck—and the success was almost immediate. Their trucks produced the steady cash flow that made a second go at brick-and-mortar expansion possible. The business has grown to 70 employees, and the partners hope to double revenue this year.


INSPIRING SMALL BUSINESS STORIES 1

Scott Harrison of charity: water 

Scott Harrison didn't like the fact that things like toothpaste had better marketing campaigns than lifesaving causes. There were a few other things that he thought he could change. So at 30 Harrison founded charity: water, which brings clean drinking water to developing nations. One goal was to make sure that the branding wouldn't suck. When Harrison was 28, he had the realization that he was a "selfish scumbag" while on vacation in Uruguay. He thought he had everything he wanted: Model girlfriends, a Rolex, a BMW. But he wasn't satisfied. To date, charity: water has funded 3,962 water projects, providing access to clean, safe drinking water for 1,794,983 people in 19 countries. Harrison's goal now? Raise $2 billion to help 100 million people in the next 10 years.

FUNNY BUSINESS JOKES

What is Two and Two?
A business man was interviewing applicants for the position of divisional manager. He devised a test to select the most suitable person for the job. He asked each applicant, "What is two and two?"
The first interviewee was a journalist. His answer was "Twenty-two."
The second applicant was an engineer. He pulled out a slide rule and showed the answer to be between 3.999 and 4.001.
The next person was a lawyer. He stated that in the case of Jenkins v Brown, two and two was proven to be four.
The last applicant was an accountant. The business man asked him, "How much is two and two?" The accountant got up from his chair, went over to the door and closed it then came back and sat down. He leaned across the desk and said in a low voice..."How much do you want it to be?"
He got the job.

Quotable Business Humor

When you make a mistake of adding the date to the right side of the accounting statement, you must add it to the left side too.
Accountant's Maxim

There's no reason to be the richest man in the cemetery. You can't do any business from there.
Colonel Sanders

Nothing is illegal if a hundred businessmen decide to do it, and that's true anywhere in the world.
Andrew Young

The two most beautiful words in the English language are 'check enclosed'
Dorothy Parker

Success is simply a matter of luck. Ask any failure.
Earl Wilson

Advertising is legalized lying.
H. G. Wells

If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
J. Paul Getty

We were hoping to build a small profitable company; and of course, what we've done is build a large, unprofitable company.
Jeff Bezos (1964-) U.S. Businessman
 

Behind every successful man lurks a truly amazed ex-mother-in-law.
John Chrusciel

Catch a man a fish, and you can sell it to him. Teach a man to fish, and you ruin a wonderful business opportunity.
Karl Marx

I used to sell furniture for a living. The trouble was, it was my own.
Les Dawson

Hope you got the humor!

APPLE PROFITS DROP FOR FIRST TIME IN DECADE

Apple reported Tuesday that its quarterly profit dipped for the first time in nearly a decade as it squeezed less money from its champions in the competitive smartphone and tablet markets.The maker of iPhones, iPads, iPods, and Macintosh computers stepped in to bolster its stock price by announcing a plan to more than double to $100 billion the amount it will spend to buy back its stock and pay out dividends.
 

Apple raised a coming stock dividend by 15 percent to $3.05 per common share. While Apple coffers bulged with $144.7 billion, the company said most of that money is offshore and it will be shrewder to borrow cash to implement the stock buy-back plan.

Apple shares jumped briefly on the news in after-hours trades but slid back down to $403.95, about two dollars below where it was at the close of the Nasdaq.

The move veers from the way late Apple co-founder Steve Jobs fiercely guarded cash reserves.
Apple shares jumped briefly on the news in after-hours trades but slid back down to $403.95, about two dollars less than at the close of the Nasdaq.

The California-based company posted a profit of $9.5 billion on revenue of $43.6 billion in the first three months of this year, compared to a profit of $11.6 billion on $39.2 billion in the same quarter in 2012.It said its gross margin, or the amount of money it makes in profit from its devices, shrank to 37.5 percent from 47.5 percent.

The number of iPhones sold in the quarter rose to 37.4 million from 35.1 million during the same quarter last year.The number of iPads sold surged to 19.5 million from 11.8 million a year earlier.
Meanwhile, sales of iPod MP3 players dropped by more than a million to 5.6 million and Macintosh computers sales slipped about two percent to just below four million, according to Oppenheimer.
The Apple board raised the overall stock repurchase target to $60 billion from $10 billion.
Apple chief executive Tim Cook said that the decline in Apple stock in recent quarters has been "very frustrating for all of us."

Shares in Apple are well below their 52-week peak above $700 in September as the tech giant faces tougher competition from South Korea's Samsung and others.

"For the size company it is, Apple is plugging along very nicely," said Forrester analyst Frank Gillett.
"The question we are asking ourselves is whether they can bust out a new category. My hunch is there are a bunch of new things brewing."

Revenue in Greater China was up 11 percent to $8.8 billion, with iPad sales more than doubling despite Apple reporting that growth had slowed there.China served as an example of an Apple strategy to win over smartphone buyers with affordable prices on iPhone and iPad models, letting margins shrink in order to build ranks of loyal customers.

"We do want to grow faster, but we don't look at it as the only measure of our health," Cook said.
The iTunes shop pulled in more than $4 billion in revenue in the first three months of the year, setting a new record, according to Oppenheimer.
( F24)