Posts tagged: News
You are an entrepreneur contemplating starting a business and you are wondering where you will get the funds to finance it with. On March 22, 2012 the U.S. Senate passed the JOBS Act, or Jump-Start our Business Start-ups. This, they presume, will make it easier for small businesses to raise money.
You have heard the word, Crowd-funding, previously written about in this column. Business owners can raise money from people they may not even know by posting their information and financial need on websites that facilitate this purpose. This is money that basically you wouldn’t need to pay back, and it would help you start your business, and would be considered a donation. This can be an issue of legality with the Securities and Exchange Commission because investors are not being given a security in exchange for their money. However, some businesses are giving back to the investors some form of payment in the way of product they created.
Sites such as ArtistShare, Kickstarter, Pledgemusic and Funding4Learning have a failsafe. They hold funds in an escrow account. If the nominated target isn’t reached, all funds are returned to contributors. While sites such as Fondomat, RocketHub, IndieGoGo and Sponsume allow projects to keep all the funds raised.
But now the U.S. Senate has tightened the process with its amendment saying that any company raising money using Crowd-funding must still file some basic information with the Securities and Exchange Commission, including the names of directors, officers and holders of more than 20 percent of the company’s shares, plus a description of the business and its financial condition.
For companies seeking to raise less than $100,000 they must also provide tax returns and a financial statement certified by a company principal; those raising up to $500,000 must provide financial statements that are reviewed by an independent public accountant.
Indicating that there is a great chance for fraud with crowd-funding, intermediaries offering to help companies raise money must register with the Securities and Exchange Commission, make sure investors are advised of the risks they are taking, and take measures to present fraud.
This bill will return to the House for a final vote, and then on to President Obama the week of March 26 for his ratification.
Costume Designer Eiko Ishioka passed away in January. Her latest film comes out today, Mirror Mirror. Check out her designs!
Check out this blog post from Fashionista.com -
A Look Back at the Magical Work of Mirror Mirror Costume Designer Eiko Ishioka
Check out this article from the New York Times -
Summoning the Fairest of Them All
HOTTOPICSINSIDER recommends that if you have not seen the new Cartier 3 min+ ad you absolutely have to. Not only is it stunning, but it absolutely embodies a breakthrough concept in advertising style and exemplifies what Brand strategy is all about. The emphasis here is about authenticity, passion, dreams, and desire.
Get in on the buzz. View it now.
Some of you may have noticed that the lovely little has now appeared to the right. What is it? It’s Pinterest! Have no idea what Pinterest is?
Well, let me give it to you in a nutshell…
For our purposes, it’s our Instructor & Student Think Tank with topics relating to our Certificate Programs and noncredit classes.
It’s an online scrapbook that students and instructors can use to clip and contain ideas / images, so they are put together as a giant ‘think tank’.
Let us know what you think!
J.C. Penny’s branding revamp comes during an interesting time in the industry, considering the oversaturation of deals and couponing. Former Apple executive Ron Johnson, started implementing some major changes once he became Penney’s CEO in November. Starting with Wal-Mart’s iconic everyday low pricing strategy, without focusing on undercutting competitors, but rather offering their customers more predictable pricing.
Their pricing strategy includes: Sale prices become everyday prices, Fewer Seasonal Sales, New Tags to indicate pricing accordingly, Pricing without the 99 cents for simpler pricing, New Advertising that includes digital strategies.
These digital strategies are going through the testing stages from their catalogs, as they are utilizing QR codes as well as text messaging to purchase specific items to feel out the demand for additional implementation of technology.
Increased discounting has been a vicious cycle that feeds into shoppers’ insatiable appetite for bigger and better discounts. At JCP, the regular price on an item that costs $10 to make rose 43 percent, from $28 in 2002 to $40 in 2011. But because of all of its sales and other promotions, what it actually ended up selling for rose only 15 cents, from $15.80 to $15.95 during that same period.
This concept has been attempted multiple times by other companies, including Macy’s, where they cut back a few years ago on coupons and discounts, but their strategy was unsuccessful and they were forced to ramp back up after seeing sales suffer.
As families are struggling financially, this could be a positive rebranding for the company, to recognize the climate and restructure accordingly.
Dalia Strum teaches SXF 120: Blogging Smarts for Business.
This makes me re-evaluate online product reviews. Now I will hesitate if anything has numerous 5 star reviews.
Agencies like the Federal Trade Commission have been trying to crack down on online product reviews that do not disclose the connection between a merchant and the person doling out the praise.
FIT’s 3rd Annual Pet Fashion Show – Fashion After BARK
This year’s show will be in April 2012. Stay tuned for more info!
This post will focus on the third level of the Press Pyramid — General Business Media. As I explained in my earlier post The Press Pyramid (see below) depicts different levels within the press community and shows how they influence your audience and each other.
The General Business Media includes such outlets as Business Week and CNBC. Fashion and business reporters in all media will look up the pyramid for newsworthy angles, the latest trends, and background about a particular area or industry they are covering.
This group won’t be the first to report on your company or product. However, they are a very large group which means two things. The good news — if you can grab their attention, the media coverage you receive will be enormous since their reach is fairly extensive. The bad news – it’s going to cost you time, effort and money to grab their attention because there’s a lot of competition vying for media space in this group.
My next post will deal with the bottom of the pyramid, the General media.
Chart and content from my book, Lies Startups Tell Themselves to Avoid Marketing www.holtzmancom.com/thought_book_title.php
Sandra Holtzman teaches CEO 035: Licensing.