Posts Tagged ‘New York’

It’s Christmas, So Here’s a Tip

December 16th, 2010 by stevezog
It's possible that there is a future for print publications...as long as there's a digital version.

It's possible that there is a future for print publications...as long as there's a digital version.

Here’s an early Christmas present, newspapers: print publications can and will stay in business…so long as there’s a digital version of the publication.

A recent article on GigaOm.com says John Paton, CEO of the Journal Register group of newspapers, says the time for debate is over. Newspapers need to be digital first in everything they do, he says, and more than that, they need to take the same approach to their businesses that many web-based startups have, and that means being transparent, crowdsourced, collaborative and flat. To demonstrate this point, Paton at a recent speech he gave at the Transformation of News Summit in Cambridge, Mass., which was put on by the International Newsmedia Marketing Association (INMA).

We’ve said before that print might not be on its way out, but this news makes sense; in regards to print, there’s just a smaller need for print vs. digital.

Paton said that the Journal Register — which he took over in February — has been living and breathing these principles for the past year, and they’ve paid off in terms of both revenue growth and profits for the company, which was effectively bankrupt last year. Paton says the Journal Register’s profit margins will be about 15 percent this year.

In effect, Paton says, the Journal Register — which publishes about 170 daily and weekly papers in Pennsylvania, Michigan, Connecticut, New York and New Jersey — is already a digital-first company whether it wants to be or not, because its total online audience is bigger than its print audience.

“With small sales in the area of growth and a burdensome cost structure on the declining business – print,” Paton said, that’s how he made it happen. The newspaper CEO said the company has dealt with that cost structure problem by outsourcing everything it can to others who can do it cheaper or better.

What’s interesting about this approach is it doesn’t rely on putting up paywalls, the way that media mogul Rupert Murdoch has done at his newspapers in Britain, which actually led to a decline in online readership of more than 90 percent. Instead, Paton is focused on expanding the relationship his newspapers have with both readers and advertisers in their local communities, and taking that online. He says it’s working even better than expected.

Is this surprising news to you? Whatever the case, this news — and this approach to print — could save a lot of businesses this Christmas and after.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Brad Sugars | No Comments »

Looking Elsewhere for Market Predictors

November 4th, 2010 by stevezog
Maxi dresses were a huge trend in summer/fall 2007...right before the housing market crashed.

Maxi dresses were a huge trend in summer/fall 2007...right before the housing market crashed.

There are lots of correlations that usually don’t mean anything, but several economists swear they really can correlate certain trends with the financial market and can predict or move with the U.S. economic market.

BusinessWeek has reported a few of these superstitious predictors. Back in 2008, the magazine looked into more than 20 years of hair data (how this data was gathered and why it was even kept is something we don’t know) and how long Japanese women’s hair was, or what the hairstyle trend was, was in line with the market;

in 1990, 60% of the women surveyed kept their hair long or semi-long. But by 1997, when the economy was flagging, short or medium for the first time accounted for more than half of all haircuts. In 1998, Japan’s economy was savaged by major financial bankruptcies, including that of Yamaichi Securities, at the time the country’s fourth-biggest broker.

Today, with Japan enjoying its longest postwar stretch of uninterrupted economic growth, over 80% of the women have reverted to either long or semi-long lengths.

Skirt hemlines are said to be a common correlation with the market, as well. The stock market’s crash of 1929 was a defining moment for the economy and skirt heights; both  plummeted, with hemlines below mid-calf. A decade later, on the eve of the World War II, the U.S. economy entered an 80-month expansion which lasted through February 1945, according to the National Bureau of Economic Research. During this time, knee-length skirts became ubiquitous, though the trend had more to do with conserving fabric for the war effort than with the economy. But by the ’60s, miniskirts were in full swing…and so was the economy.

Remember what women were wearing right before the housing market crash from fall 2007 to about 2009? Floor-length maxi dresses were the huge trend in dresses. Seriously…this market-predicting trend is uncanny.

However, hemline indicators are a bit hazy currently. At New York Fashion Week, hemlines were reportedly all over the place — miniskirts and shorts, knee-length, and long dresses were all shown.

Which might be accurate, actually, as the market is still a bit…well, all over the place.

Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Brad Sugars | 3 Comments »

Fresh Frozen Franchise

August 12th, 2010 by stevezog

Which businesses make the most sense for franchising? The ones that don’t require a skilled labor force. In New York, a frozen yogurt company called 16 Handles is looking to expand through franchising and the key to their business has been their systems, which eliminates the need for skilled labor while building a strong bottom line.

16 Handles offers quality frozen yogurt with a never ending topping bar, and most importantly, it’s all self-serve. There are no skilled employees to worry about and everything is done through systems, which makes the idea of franchising much easier. It is the systems, which makes replicating the experience in different locations very easy.

The company was started in New York by Solomon Choi, who grew up in Southern California and learned about the frozen yogurt business from a friend who owned a popular shop.

Because he didn’t want to compete with his friends, he took his concept to New York, “It seems trends start in New York and L.A. and the rest of the country picks them up,” Choi told BusinessWeek recently.

He found plenty of competition in New York. The area near New York University where the first 16 Handles is had nearly a dozen frozen yogurt shops when the store opened. Thanks to positive word of mouth and great marketing, lines have been out the door to sample 16 Handles frozen treats and most of that competition is gone.

After beating back the competition, 16 Handles is looking to expand, and Choi’s vision is to expand through franchising rather than opening corporate-owned stores.

Why?

He simply doesn’t have the capital to open the shops himself, “If I had the money to open 10 stores myself, I’d do it.” Instead, Choi has already sold four franchises and claims to have another dozen deals in the works.

Ideally, Choi would like to have both franchisees and corporate owned stores as a way to expand his brand, without funding it all himself.

What do you think of franchising versus a corporate owned chain? When it comes time to expand, is franchising your business a possibility? Does it make sense to franchise rather than open another corporate owned shop?

Tags: , , , , , , , , , , , , ,
Posted in Brad Sugars | No Comments »

Americans are Cutting Back…or Are They?

August 11th, 2010 by stevezog
Despite the high unemployment rate and unstable job security, many just can't give up daily costs, like Starbucks coffee.

Despite the high unemployment rate and unstable job security, many just can't give up daily costs, like Starbucks coffee.

Last week’s Bloomberg BusinessWeek published a very interesting cover story regarding the recession, Americans, and their spending habits.

BusinessWeek actually visited several big-name malls and stores across the country — Mall of America in Minneapolis, Fashion Show Mall in Las Vegas, Woodfield Mall in suburban Chicago, Barneys in New York — to ask shoppers their thoughts about the economy and, since most of their thoughts were negative, why they were out shopping if they thought like that?

According to Consumer Reports, even though 51% of consumer say they’re trying to save, of those people, 17% are still spending outside their means, and 20% are buying on impulse,and still treat themselves to new, expensive purchases they might not have bought for themselves six months ago, like an iPhone4.

It’s interesting, reading about the irony of people juggling their iPhones in one hand, Starbucks coffees in the other, yet talking about switching to less expensive laundry detergent, soap and shampoo brands. But cutting costs is costs, and that’s how many shoppers justify buying Starbucks in the first place.

One woman confessed to “looking at price tags a bit more carefully” in the Fashion Show Mall in Vegas…yet she had splurged on the trip to Vegas itself. Even though she told BusinessWeek, “It’s really tough right now,” she also admitted to “pulling out all the stops” for Vegas and getting a room for the trip at the Bellagio.

Hypocrisy? Maybe, but what does it say about people and how they’re dealing with cutting costs in a recession?

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Brad Sugars | 3 Comments »

How Some States are Dealing with a Budget Crisis

August 4th, 2010 by stevezog

You know a state is in deep financial trouble when it’s thinking of capitalizing on strip clubs to fix its debt.

Raising taxes is the last thing most state governments want to do — or suffer a major backlash with the people — so states that are struggling with debt are looking at taxing specific items and services to help decrease their gaps in budget. Some of the ideas seem downright outrageous.

For example, lawmakers in Georgia proposed a “pole tax,” which would charge strip club patrons a $5 entrance fee. The bill was not approved.

Other examples:

  • New York proposed a “fat tax” that would put an 18 percent tax on sugary beverages. That didn’t pass. Next door in New Jersey, however, there is now a sales tax on health club memberships.
  • School’s out for summer! Some school districts in Utah shortened their school years by a few days in hopes of saving money.
  • California proposed legalizing marijuana, and introduced a bill proposing taxing pot by $50 per ounce. If legalized, marijuana would become California’s No. 1 cash crop, bringing in an estimated $1 billion a year in state taxes. The bill was shelved this session, but it is rumored that a revised bill will be reintroduced.
  • 19 states have looked into gambling-related tax proposals, according to the National Council of State Legislatures. In Alabama, lawmakers considered bringing in more bingo games and legalizing slot machines, but it was not approved. Along the same lines, Delaware’s Democratic Gov. Jack Markell signed legislation creating a sports lottery that legalizes single-game betting. Four professional sports leagues and the NCAA have filed a lawsuit over this because they say it threatens the integrity of the games.

Guess you have to hand it to legislators, these ideas are definitely outside the box…

Tags: , , , , , , , , , , , , , , , , ,
Posted in Brad Sugars | No Comments »

Anonymity and Ethics

August 26th, 2009 by stevezog

Is there free speech on the Internet?

It would appear that there is – but bloggers should still follow a code of ethics, just like most publications do (even though they have the right to publish free speech), there still are legal boundaries and limitations.

A court recently ordered Google to hand over the IP address and identity of a blogger using its blogging system in New York, who defamed model Liskula Cohen by declaring her the “skankiest model in New York.”

To defend herself, Cohen filed a $3 million defamation suit against the no longer anonymous blogger, Rosemary Port, who, as it turns out, is an acquaintance of Cohen’s.

For her part, Port is reportedly looking into suing Google for revealing her identity, which she apparently presumed to be anonymous and private.

Google fought to protect Port’s anonymity, but lost after Cohen proved she was losing modeling jobs due to the remarks on Port’s blog.

However, this isn’t the first time the courts have seen a case like this. Recently, after a Maryland Dunkin’ Donuts store manager claimed anonymous posters in a forum were defaming him by calling his restaurant dirty, the court reversed an earlier decision to reveal the posters’ identity.

When people are able to hide behind an anonymous blogging name, they feel free to write whatever they so choose to, even if it’s not true.

But when someone’s byline is on the line, so to speak, a certain code of ethics and legal boundaries must be followed, or it means a lawsuit for the publication.

In the new era of online content and blogs, more ActionCOACH Business Coaches are working with businesses that actively blog. So what are the “rules of the game” for businesses that blog?

ActionCOACH counsels that all of its clients who blog should have a similar code of ethics seen in other print media.

It’s really not too “out there” of an idea – after all, many people depend on a variety of blogs for news and information nowadays.

In fact, several reputable publications with their own blogs – the New York Times, Business Week and Time Magazine – blog and add content with their code of ethics in mind.

Like gossip magazines, some blogs only write about gossip and rumors, but even gossip magazines have a code of ethics they follow to prevent lawsuits.

Similarly, for a lawsuit claiming defamation by a blog, recent legal guidelines asks the plaintiff to do the following:

  • Notify anonymous parties that their identities are sought.
  • Give the posters time to reply with reasons why they should remain nameless.
  • Require plaintiffs identify the defamatory statements and who made them.
  • Determine whether the complaint has set forth a prima facie defamation, where the words are obviously libelous, or a per quod action, meaning it requires outside evidence.
  • Weigh the poster’s right to free speech against the strength of the case and the necessity of identity disclosure.

As a successful international company, ActionCOACH always advises that a codes of ethics be followed whenever it comes to blogging. Even on its own blog and blogs related to ActionCOACH founder and CEO Brad Sugars, there are certain rules and guidelines for blog content.

It’s important to stay consistent with business ethics, and no matter what business you’re in, it’s important to conduct all facets of business (including your blog content) in an ethical manner.

Tags: , , , , , , , , , , , , ,
Posted in Brad Sugars | 4 Comments »

Getting Creative with Budgets

July 31st, 2009 by stevezog

You know a state is in deep financial trouble when it’s thinking of capitalizing on strip clubs to fix its debt.

Raising taxes is toxic in today’s market, so states that are struggling with debt are looking at taxing specific items and services to help decrease their gaps in budget. Some of the ideas seem downright outrageous.

For example, lawmakers in Georgia proposed a “pole tax,” which would charge strip club patrons a $5 entrance fee. The bill was not approved.

Other examples:

  • New York proposed a “fat tax” that would put an 18 percent tax on sugary beverages. That didn’t pass. Next door in New Jersey, however, there is now a sales tax on health club memberships.
  • School’s out for summer! Some school districts in Utah shortened their school years by a few days in hopes of saving money.
  • California proposed legalizing marijuana, and introduced a bill proposing taxing pot by $50 per ounce. If legalized, marijuana would become California’s No. 1 cash crop, bringing in an estimated $1 billion a year in state taxes. The bill was shelved this session, but it is rumored that a revised bill will be reintroduced.
  • 19 states have looked into gambling-related tax proposals, according to the National Council of State Legislatures. In Alabama, lawmakers considered bringing in more bingo games and legalizing slot machines, but it was not approved. Along the same lines, Delaware’s Democratic Gov. Jack Markell signed legislation creating a sports lottery that legalizes single-game betting. Four professional sports leagues and the NCAA have filed a lawsuit over this because they say it threatens the integrity of the games.

The lesson here is to think of the business cycle the way Brad Sugars explains it.

Right now, we are in “economic winter.”

Obviously, during the past “economic spring” and “economic summer,” these states didn’t prepare for “economic fall” and the current state of our economy.

Know that the downturns will inevitably come and plan for them so you don’t get desperate and have to scramble to find a way to make your budget – because the short term fixes could, in fact, hurt your business in the long run.

Know that “economic spring” is around the corner.

So, as Brad Sugars would ask, “what are you doing right now to prepare?”

Tags: , , , , , , , , , , , , , , ,
Posted in Brad Sugars | 2 Comments »
Brad Sugars Fan Page