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Design Entrepreneurs NYC Mini-MBA program — year 3 and gaining momentum!

DrJoyceBrown DENYC14

Dr. Joyce Brown, President of FIT, welcoming the new designers! Jeannette Nostra, on the Board of GIII & Morris Goldfarb, President, Chairman & CEO of GIII in the background.

The DENYC just had its kick off weekends with intense all-day sessions (you can set your beach calendar to this — it’s always the first two best weekends of perfect weather of the summer — and these dedicated 32 designers are indoors without windows the whole time) — and guess what?
They love it!

ChrisHelm DENYC14

Christine Helm, Coordinator, Enterprise Center, FIT

Each year the faculty adjust the program to customize it to the class and each year the incoming class is further along in their business at the start than the year before. I co-teach growth strategies (with some marketing thrown in).

This year’s group is great. Every designer has a clearly defined niche and their styles are so appealing! I’ll be mentoring bexnyc.com and lalaandsasi.com.

I’m particularly excited about the first fashion tech designer to participate in DENYC!  A handbag that charges your cell phone!  Wait til you see the rest!   On second thought, don’t wait http://www.designentrepreneursnyc.com/participants.html

Look for pop-up shops featuring the alumni especially as the holidays approach.

Check out the program, it’s current students and alumni, http://blog.fitnyc.edu/denyc/

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

You’re a lifestyle company. Who are your champions?

Silver Lining is one champion. I met Carissa Reiniger, CEO and President, about three years ago. She has dedicated Silver Lining to helping lifestyle businesses grow.  Simple.  It’s a one year, mostly on line, program designed to grow your business. It’s not a business plan but rather an action plan that relies on some of the same things in a business plan.  There’s nothing wrong with business plans…they are great for determining what direction you want to take your company in.  Business plans are primarily used to raise capital however.  The philosophy at Silver Lining is that action plans are a better way for lifestyle businesses to grow. Their action plan is called SLAP: Silver Lining Action Plan.  It’s a simple (because once you fill in the blanks, the plan program does all the calculations for you).  Even if you’re self motivated, sometimes taking care of your own business gets pushed to the side by you – like the shoemaker with barefoot kids.   If  you can relate to this, then maybe you should check Silver Lining out.  www.Silverlininglimited.com

CARISSA REINIGER

Carissa in action at WIX Lounge recently.

GALE BREWER

Gale Brewer, Manhattan Borough President who stopped by cheer SLAP in the City on. http://www.galebrewer.com/

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Also, check out this event with NY Fashion Tech Lab Workshop

Human Resources “A Smoother Road to Growth”
How to Avoid the Top Ten Most Common Employment Mistakes Made by Startups
w/ Mintz Levin
Monday, June 9, 2014 from 6:00 PM to 8:00 PM (EDT)
New York, NY

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Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Lifestyle companies…are we the 99%?

Lifestyle companies are, as partially defined by Wikipedia, businesses that are established and run by their founders with the primary aim of sustaining the founder and, secondarily, those who work for the founder.  Wikipedia says that the lifestyle owner wants to sustain a specific level of income that will give the owner a basis on which to live a particular lifestyle.  I think the definition is broader than that though.  A New York Times article offers other definitions: http://boss.blogs.nytimes.com/2011/01/24/is-the-term-lifestyle-business-an-insult/?_php=true&_type=blogs&_r=0.  And here’s another question: at what point is a lifestyle company called a privately held company (one that does not have shareholders, or does an IPO)?   Mary Sullivan, a blogger, offers still another point of view on the subject:  http://www.allbusiness.com/business-planning-structures/starting-a-business/3878259-1.html
I also believe that lifestyle companies make up a large percentage of the tax base…after all, lifestyle companies don’t have lobbyists or have the kind of money it takes to wield enough power to get tax breaks for themselves.
As I’ve written about Natori, lifestyle, or privately held, companies have the advantage of being able to dictate exactly what the owners want to do with it.  This includes sustaining a high level of quality, ethics, etc. For fashion designers and others, this is important – it’s directly related to the owner’s vision.  I’ve seen lifestyle owners customize their products for clients – still another advantage.  Lifestyle companies also offer the owner the potential for a lot of individual freedom and flexibility in their lives.  Most companies who I come in contact with at the entrepreneur and other courses  I’m involved with (Fast Trac at Levin Institute, Licensing and Design Entrepreneurs NYC Mini-MBA program at FIT) and mentoring (Lang School of Entrepreneurship at Columbia University and Philadelphia Fashion Incubator), are lifestyle companies.
So while lifestyle companies are portrayed as “unglamourous” in the press and in certain communities, like Silicon Valley, Silicon Alley and the Route 128 corridor, they can often be a wise business decision and a road to success for the entrepreneur.  Here are some other opinions along the same lines.
What’s your opinion?
#lifestylecompany #startups #entrepreneurs #lifestylebusiness

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Advance your career. Pursue your passion.