Experts Views on the Value of Business Plans - Blog 2

Toms Shoes has one mindset and that includes “One for One”. When someone buys a pair of TOMS Shoes, a pair is given to a child in need. This business model incorporates social responsibility. There are over 1 Billion people at risk around the world with Podoconiosis (foot disease), and shoes can prevent it (tomsshoes.com/content).

I strive to base my business model to feature similar qualities like those that Blake Mycoskie built into his company. Coming from South Africa I feel it is my duty to give back and help as much as I can and as far as my abilities can take me. My company, Purple Gorilla, aims to use Social Entrepreneurship to further social & environmental goals with the WWF (World Wildlife Fund For Nature) through entertainment.

According to Mr. Donald Trump, creating a structured business plan is planning for success. Solo practitioners are probably the worst offenders of this. Without a plan, it is a plan to fail. It is too easy to become distracted, or find the newest thing to promote. With a business plan, there is a direction and a focus (2009, Ten Donald Trump Business Tips for Business).

The main objective will be to finalize the Purple Gorilla business plan. Once that is in place everything else will follow. After that a website will need to be developed for Purple Gorilla. For the first year all sales will be done via the online store. That will be the time to build credibility for the brand and a following. After that has been completed construction for the official store will commence in the second year of operation.

When an investor reads through the Purple Gorilla business plan, the first thing that will stand out will be the company description. This section will explain exactly how unique and different Purple Gorilla is from any other clothing brand out there. The second thing that will capture the investor’s attention will be the financial section. When any investor is interested in investing in a company, the first thing they want to know is how they will make their money back. With a well-explained company description and financial section, chances of getting an investor will increase dramatically.

References
Schmidt, David. April 2008. The Challenge of Social Entrepreneurs. Retrieved from Inc. Magazine website on August 3rd, 2011. http://www.inc.com/resources/leadership/articles/20080401/dschmidt.html

Wong, Grace. September 2008. Blake Mycoskie: Sole Ambition. Retrieved from CNN on August 3rd, 2011.

n/n. n/d. What is Social Entrepreneurship. Retrieved from The New Heroes on August 3rd, 2011. Website: http://www.pbs.org/opb/thenewheroes/whatis/

Williams, Delores. April 2009. Ten Donald Trump Business Tips for Business. Retrieved from Associated Content on August 3rd, 2011. Website: http://www.associatedcontent.com/article/1634723/ten_donald_trump_business_tips_for.html?cat=3

Experts Views on the Value of Business Plans

When starting a new business in our modern time, it’s important to know how your business is going to be different, stand out from the rest in such a way so that your target market can differentiate you from the competition. This is where an effective business plan comes in play.

Blake Mycoskie is the owner and chief shoe giver (CEO) of Toms Shoes, a shoe company based out of Santa Monica. California. But it’s this company’s message that makes it so unique. For every pair of shoes purchased, Toms gives a pair to a child in need, that’s where the companies slogan comes in play; One For One.
While vacationing in Argentina, back in 2006, Blake volunteered to help a charity hand out basic amenities to the people and specifically shoes. He thought to himself that there must be an easier way to get shoes to these people. So the next day he started thinking what if you bought a pair and with that you can make a small profit and still give a pair back? Thus Toms Shoes was born with a very extraordinary business plan.

In the first 6 months Toms was active, they gave away 10 000 pairs of shoes to children in need in Argentina. Toms first turned a profit 2008 and to date they’ve given away over 1 million pairs of shoes (2008. Blake Mycoskie: Sole Ambition).
This unique business model is based on social entrepreneurship. A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur assesses success in terms of the impact he has on society as well as in profit and return (n/d. What is Social Entrepreneurship).

When you mention the name Donald Trump, everyone immediately thinks billionaire, real estate tycoon, playboy, arrogant and for good reason; he is all of these things. But maybe his arrogance has helped him become the man he is today. Mr. Trump is a business expert and when it comes to business plans he definitely knows his stuff.

According to Mr. Trump, creating a structured business plan is planning for success. Solo practitioners are probably the worst offenders of this. Without a plan, it is a plan to fail. It is too easy to become distracted, or find the newest thing to promote. With a business plan, there is a direction and a focus (2009, Ten Donald Trump Business Tips for Business).

It only takes a small idea and asking yourself how and why to come up with a very unique business plan. Blake’s story proves that even the simplest idea can become a huge success. Mr. Trump on the other hand believes in structure and discipline when it comes to business.

References
Schmidt, David. April 2008. The Challenge of Social Entrepreneurs. Retrieved from Inc. Magazine website on August 3rd, 2011. http://www.inc.com/resources/leadership/articles/20080401/dschmidt.html

Wong, Grace. September 2008. Blake Mycoskie: Sole Ambition. Retrieved from CNN on August 3rd, 2011.

n/n. n/d. What is Social Entrepreneurship. Retrieved from The New Heroes on August 3rd, 2011. Website: http://www.pbs.org/opb/thenewheroes/whatis/

Williams, Delores. April 2009. Ten Donald Trump Business Tips for Business. Retrieved from Associated Content on August 3rd, 2011. Website: http://www.associatedcontent.com/article/1634723/ten_donald_trump_business_tips_for.html?cat=3

Blog Efficiency Survey

Improving Your Business With Social Media

According to Edison Research, more then half of America’s population 12 and older now have a Facebook page and those numbers keep on growing daily. With statistics like that how can your business not afford to have a Facebook page?

Creating a Facebook or Twitter page for a business is easy, a ten-year old can do it now a-days but it's how you use it to improve your business and keep your customers attracted to your business, which is a completely different story.

If used correctly, you can improve your customer following dramatically with social media. One such success story is a young, multi-million dollar entrepreneur John Earl, also known as Johnny Cupcakes. Johnny Cupcakes is a clothing line based out of Boston with a very successful online store and four (4) retail outlets in Boston, Los Angeles and London. John Earl founded the brand in 2001 as a joke. “I make shirts with cupcakes on them”, as Earl would say is the simplest way to explain his multi million dollar business. Johnny Cupcakes offers an interactive website and entertaining stores (Johnny Cupcakes Finds Sweet Success in T-Shirts, 2006). But Johnny didn’t do all of this without the help of social media. Johnny mainly uses two (2) of the most popular social media channels out there to engage and entertain his customers; namely Facebook and Twitter.

Depending on your business, post a sneak peek of an upcoming product. This way you can get feedback from your customer base even before the product is officially launched. Johnny always posts a sneak peek from his new line before it comes out. By doing this; Johnny excites his customer base and gets them talking about the product online which will then spread to their friends who might not have been a Johnny Cupcakes fan till now.

It’s important not to bore your customers with your content. Of course some posts will include what’s happening with your company but it could get old really fast and that might lead to the loss of a follower. Your posts should also include interesting or funny articles/videos you’ve discovered. This will lead to people also finding your social media page entertaining and informative. Johnny makes a point of it to post at least one ‘random’ post on both his Facebook page and Twitter.

Engage your customers with random give-a-ways and competitions via social media. Depending on your business, ask your customers to take a picture of your product in the most random place they can think of. The picture with the most ‘likes’ will win a prize. Contestants will ask their friends to vote for their picture. This way, you the business owner will win too because to vote you have to ‘like’ the page in the first place so not only will you engage your customers in a fun and entertaining way but your page will also get more likes. Johnny is a prime example of this. If Johnny is struggling to sell a certain product he will post a competition similar to the example explained to help improve sales.

For more ways on how to use social media effectively for your business, read the article by Inc. Magazine and take a look at Johnny Cupcakes Facebook page to see a master at work.

Reference

Smith, T. (2006). Johnny Cupcakes finds sweet success in t-shirts. Retrieved June 29^th, 2011, from Weekend Edition. Website: http://www.npr.org/templates/story/story.php?storyId=5618417

Inc. Magazine: http://www.inc.com/articles/2010/01/30-tips-for-using-social-media.html

Huffington Post: http://www.huffingtonpost.com/2011/03/25/facebook-user-statistics-america_n_840524.html

How Johnny Cupcakes Got Big Without The Help Of Traditional Marketing

The fashion industry is as old as the idea of wearing clothes. There was always someone in the village, town or city that made clothes, perhaps fabric too. They offered different sizes, colors and styles. Not much has changed (or has it?). Fashion has always been subject to shifts in "style", and not always been restricted by the necessity of function, unlike other industries. Fashion, as many see it, is an art, a form of expression, and a declaration of self. Over the centuries, fashion has been used to distinguish between cultures, religious beliefs, moral standards, and, sadly, socio-economic status.

One of the most unique fashion industry leaders is a brand called Johnny Cupcakes, and the gag that inspired it all is in the name - given to John Earle (owner) while he was working at a Newbury Comics store in Boston. But before becoming Mr. Cupcake, he was better known as Johnny the Jokester.

Breaking into the fashion industry is not easy. How do you create a name for yourself without billboards or print ads? Most people in the industry will say it’s not possible, but Johnny proved everyone wrong and created a multi-million dollar brand by paying attention to detail and the wonderful word of mouth.

What separates his product from everyone else’s and what makes him a leader in the market is the exclusivity of his products. According to Johnny “People want what no one else has”. His products are limited, exclusive and one of a kind. He made a wise business decision early in his career to stay away from major clothing stores. (Johnny Cupcakes finds sweet success in t-shirts, 2006, paragraph 6-9)

Customers like and appreciate the story behind the brand. Johnny chose quality over quantity. He believed to rather have a strong brand filled with knowledgeable customers who truly enjoy what he created instead of making a quick buck by trying to get his shirts in chain stores.

Johnny Cupcakes builds memorable experiences for his customers through an in-store event, or the packaging and details he puts into everything. Most companies try to cut as many corners as they can, to turn a better profit. He does the exact opposite and pays close attention to all the little things. (What a dude named Johnny Cupcakes can teach you about business, 2009, paragraph 13)

Most of his customers are repeat customers. Every type of person collects, understands, and appreciates the brand: Fashionable people, college kids, artsy kids, thugs, indie rockers, skaters, young adults, sneaker heads, and more.

When Johnny launches a new line of shirts there are normally up to 600 people in line waiting for the store to open, this is when Johnny personally walks down the line talking to customers, asking questions and handing out free cupcakes to everyone. He also has a personal blog on his website (johnnycupcakes.com) that he updates everyday with personal experiences, interesting stories and information on upcoming and current products. (What a dude named Johnny Cupcakes can teach you about business, 2009, paragraph 18-20)

Johnny also makes fun of popular culture and replacing popular icons with cupcakes. For example: Statue of Liberty, instead of holding a torch it holds a cupcake. On the website Johnny gives out his e-mail address where customers can e-mail him directly with questions, ideas or to say thank you for his brand.

(What a dude named Johnny Cupcakes can teach you about business, 2009, paragraph 11)

It's all of these small things put together that made the brand what it is today. By doing his own thing, breaking away from the norm, Johnny gained the attention from a new market that will support him no matter what. And all of this without the help of traditional marketing.

Reference:

Johnny Cupcakes Website: http://www.johnnycupcakes.com/blog/

Davenport, J. (2009). What a dude named Johnny Cupcakes can teach you about business. Retrieved June 29^th, 2011 from News Updates for Syracuse and CNY. Website:http://www.syracuse.com/news/index.ssf/2009/03/what_a_dude_named_johnny_cupca.html

Smith, T. (2006). Johnny Cupcakes finds sweet success in t-shirts. Retrieved June 29^th, 2011, from Weekend Edition. Website: http://www.npr.org/templates/story/story.php?storyId=5618417

Apple Introduces iCloud - What It Means For Media Distribution

I'm sure you are all familiar with a small company known as Apple. In case you didn't know, they are a computer company knwon for their sleek, modern, user-friendly devices like the Apple computer, iPhone, iPod, iPad and the world's largest music seller, iTunes.

From June 6^th till June 10^th, the Worldwide Developers Conference (WWDC) was held. Thousands of Apple engineers demonstrate and explain the incredible power of the world’s most advanced operating systems and how our apps are integrated. They even offer workshops where you can learn to create your own apps and games so you can be an iTunes success story one day.

At this specific conference, Apple introduced to the world their latest innovation, iCloud. And of course it’s another word with an ‘i’ in front of it. Very original. But what is it?

To break it down, it’s basically a hard drive in the sky, therefore iCloud. iCloud stores your content so it’s accessible from your iPad, iPhone, iPod, Mac or PC.

It keeps your music, apps, photos, e-mail, notes etc up to date across all of your devices. No syncing required, iCloud does it for you. For example, if you buy a song from your iPhone, iCloud will automatically spread it across all of your devices. Same thing goes if you buy a book, app or any other product from iTunes.

Once you sign-up for iCloud, you will get 5GB of storage. With the launch of iCloud, MobileMe & iTools will be replaced. Since MobileMe will be discontinued, iWeb will no longer be in service as well. No word from Apple yet what will happen to current iWeb users but I’m sure their websites will still run, you just won’t be able to create a new one.

iCloud will launch in the fall of 2011 and will include the new IOS 5 update, created for iCloud.

Reference

http://www.apple.com/icloud/what-is.html

http://developer.apple.com/wwdc/about/

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