Reflecting on the 15th Anniversary of 9/11

Posted on September 11, 2016 by bermanevansretail
It has now been 15 years since one of the worst days in American history — a tragedy that many of us will remember forever. On this anniversary, it is a good time to reflect.
Each year on this date, the 9/11 Memorial & Museum has a “Tribute in Light”. This is
“an [iconic] art installation that is produced annually in New York on the anniversary of the September 11, 2001 attacks. Tribute in Light illuminates the New York City sky just south of the Memorial site. On 9/11, the 9/11 Memorial plaza is open to the public from 3 p.m. to midnight for the viewing of Tribute in Light.”

 
The 9/11 Memorial & Museum also has available online multimedia information about an incredible exhibit called “Rendering the Unthinkable: Artists Respond to 9/11.” Click on the preceding link to see the summary.
If you click on this link, you can see a video clip about one of the works of art. It is very moving. The 9/11 Memorial & Museum says the following about the clip:
“Papers, letters, business forms, and personal notes flutter through the air in this film by the creative collective, Blue Man Group. Inspired by the scraps of paper that blew from the World Trade Center into the yard of their rehearsal space in Brooklyn on Sept. 11, the members of Blue Man Group wrote the song, “Exhibit 13,” featuring spoken recitations of the papers’ contents, and created the accompanying video, both named after one of the scorched pieces of paper they found. Blue Man Group members Chris Wink, Matt Goldman,and Phil Stanton are New York residents and were in various locations in Manhattan on 9/11. The performance group is based in New York.”

 

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Business Expansion Tips

Posted on September 9, 2016 by bermanevansretail
Looking to expand a business? What are some important do’s and don’ts to consider? Here are several tips.
As Nina Ngai, writing for American Express Open forum, advises:
  1. DO research and prepare a business expansion plan — “Consider hiring a financial adviser and attorney . A financial adviser can help create a comprehensive analysis of the financial investment required and tax implications. An intellectual property attorney can help ensure that your business’s important assets are in place and protected.”
  2. DO stay realistic about your expansion expectations — “While you may dream about having store locations from coast to coast, try to be realistic on the location of your stores. The further apart your stores are, the more difficult it may be for you to travel between each location. Consider finding a store location that will be close enough for you to easily travel to, but not so close that it will cannibalize sales.
  3. DO develop training plans — “Many small-business owners are accustomed to running all aspects of their company. But when expanding, you may have to relinquish some control. Be ready to train team members and hire managers who can run your store location in your absence. As business expands, daily activity should fall to your staff while you focus on future plans.”
  4. DON’T over expand — “Expansion can be exciting, and you may be tempted to hit the ground running. But try not to overextend yourself and your resources. Rapid growth can put a strain on your company. Be patient and grow at a sustainable rate.”
  5. DON’T let quality suffer during business expansion — “Try not to let the quality of your brand suffer while you’re expanding. You may be tempted to focus all your attention on your new store location, but don’t neglect your flagship location.”
  6. DON’T ignore cultural differences if expanding internationally — “If you’re planning on expanding globally, be aware of business etiquette in different countries. Do your research on the cultural nuances of the countries you’re planning on expanding to. Consider learning the language and respect different styles of communication.”

 


 

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Will Millennials Turn Out to Be Great Entrepreneurs?

Posted on September 7, 2016 by bermanevansretail
As we noted in a prior post, according to the Pew Research Research Institute: “Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates recently released by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028.”
So, given the huge size of the Millennial generation, what are its prospects for producing successful entrepreneurs?
Bob Horton reports for Online MBA Page that:
“Millennials may end up being the greatest entrepreneurial generation ever. Just think about it for a moment.”
“Digital natives have the upper hand in our tech centered world. The on-demand, plugged-in, Millennial generation is influenced differently than previous generations and molded by global happenings in real-time. Smartphones have provided improved tech resources over the last 10 years. Ready-made distribution platforms allow for quick tests of ideas, e.g., Etsy, Ebay, and Amazon. ‘Crowdfunding’ has enabled entrepreneurs to raise capital from online sources, rather than relying on traditional sources like banks to grow their business.”
“Independence is more important than a corner office. 67% of Millennials report their goals involve starting their own business. Only 13% report their career goal is to climb the corporate ladder to become CEO/president. Creative freedom is the key to real happiness. Since 1985, entrepreneurship classes on the university level have increased 20X, so educational exposure is at an all time high for Millennials.”
“Collaboration and coming together around great ideas rocks. Making a difference in the world is HUGE. 79% of Millennial employees who volunteered through a com­pany-sponsored initiative felt they made a positive impact. 57% of Millennial employees want company-wide volunteer opportunities. There is purpose over profit.”

 
Do Millennials Make The Best Entrepreneurs? [INFOGRAPHIC]
 

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