Thursday, November 27, 2014
Top Entrepreneur News

Thu, 27 Nov 2014 19:00:00 -0600

After failing at launching a cable network, Blake Mycoskie found his passion in social entrepreneurship. Here is how he turned TOMS into a global force for good.

Thu, 27 Nov 2014 17:00:00 -0600

Find out what VCs look for before investing in a new company.

Thu, 27 Nov 2014 15:00:00 -0600

You've probably never heard of Jen Ehresmann, but she is one of the highest-ranking women in the $18-billion turkey industry.

Thu, 27 Nov 2014 12:30:00 -0600

In 9 years, Vincent Lee took a small janitorial business and turned it into a franchise that provides services for huge companies including Nike and FedEx.

Wed, 26 Nov 2014 23:30:00 -0600

Economic and technology improvements have given professional services companies much to appreciate.

Wed, 26 Nov 2014 23:00:00 -0600

It sets the foundation for the customer relationship, establishes leadership and separates the business from the competition.

Wed, 26 Nov 2014 22:30:00 -0600

With Thanksgiving and the holiday shopping season quickly approaching, retailers and marketers must establish a game plan for arguably the two biggest shopping days of the year.

Wed, 26 Nov 2014 22:00:00 -0600

Cultivate creativity, enjoy leisure pastimes, forge relationships and achieve entrepreneurial success.

Wed, 26 Nov 2014 21:30:00 -0600

When budgets are tight, knowing your customers and employing some clever tactics will go a long way in creating disruptive marketing campaigns that work.

Wed, 26 Nov 2014 21:00:00 -0600

Done prudently, helping customers to buy now and pay later is a sound strategy for maximizing sales.

Wed, 26 Nov 2014 20:30:00 -0600

The reality each year on Cyber Monday is that billions are spent online during office hours. You're wise to watch for bandwidth traffic jams and security threats.

Wed, 26 Nov 2014 20:00:00 -0600

The largest retailers have an insatiable demand for promising merchandise. Persistence is key to finding your spot on their shelves.

Wed, 26 Nov 2014 19:45:00 -0600

Is your company an assemblage of the drowsy. Encourage members of your team to catch up on rest in these ways.

Wed, 26 Nov 2014 19:30:00 -0600

Are your productivity hacks really making you better? Many are myths that are actually holding you back.

Wed, 26 Nov 2014 19:15:00 -0600

Be prepared for the annual race to send packages to all corners by doing the proper advance legwork.

Wed, 26 Nov 2014 19:00:00 -0600

The audiences are there, but if you're making one of these errors, they won't acknowledge you.

Wed, 26 Nov 2014 18:45:00 -0600

Regardless of where you sell your goods or services primarily, a little advanced digital preparation can help you take advantage of "Windfall Weekend."

Wed, 26 Nov 2014 18:30:00 -0600

Compelling web copy is important in creating a hook to persuade people to buy, but it is better to create an experience for people coming to your site that totally transcends the transaction.

Wed, 26 Nov 2014 18:15:00 -0600

A large player starts to get wise to the ways of newcomers that are experimenting rapidly.

Wed, 26 Nov 2014 18:00:00 -0600

We asked our customer service experts about the companies they love and why.

Wed, 26 Nov 2014 17:52:00 -0600

The ridesharing company is reportedly raising new financing that would value it at $40 billion.

Wed, 26 Nov 2014 17:30:00 -0600

Read about the business leaders who dominated headlines in 2014 and set the stage for the year ahead -- for better or for worse.

Wed, 26 Nov 2014 17:15:00 -0600

Meetings fall apart thanks to sloppy agendas, un-articulated ground rules, and other structural mistakes. Here's how some of the world's top execs manage their meetings.

Wed, 26 Nov 2014 17:00:00 -0600

This time of year everyone is expressing gratitude but this sort of mentality needs to occur all year long.

Wed, 26 Nov 2014 16:45:00 -0600

Your distractions are keeping you from being alert, attentive and focused and can hamper your post-event follow up not to mention your day to day activities.

Wed, 26 Nov 2014 16:30:00 -0600

We came up with three hypothetical inventions that would make Thanksgiving more enjoyable.

Wed, 26 Nov 2014 16:19:00 -0600

The social platform now allows marketers to put coupons in users' feeds with Twitter Offers.

Wed, 26 Nov 2014 16:15:00 -0600

Entrepreneurs are trying to make the best of a bad situation.

Wed, 26 Nov 2014 16:00:00 -0600

Before you take your next step, let some experts help you get a better understanding of what the data shows now.

Wed, 26 Nov 2014 15:45:00 -0600

Any time you match sellers with buyers, you have to ensure both sides of the deal are growing proportionately.

Fri, 28 Nov 2014 01:09:00 -0600

Amid revelations that 30,000 'lost' emails weren't really lost, we're told 2,500 documents with private taxpayer data may have gone to the White House. If so, why?

Fri, 28 Nov 2014 00:29:00 -0600

From the perceived trouble of #bendgate to protecting the not-using-sapphire screen, one of the biggest after-sales markets for the new iPhone 6 is the protective case. There might not be a perfect universal case, but each case mentioned here will be perfect for someone.

Thu, 27 Nov 2014 18:46:00 -0600

Since April 2012, Apple has spent $100 billion on dividends and stock buybacks. I argue why Apple would be much better off if they'd spent this money on smart M&A and R&D instead.

Wed, 26 Nov 2014 20:18:00 -0600

Black Friday is nearly upon us, and the time has arrived for Xbox One and PS4. The market still isn't flooded with must-have games that you can't play on last-gen, and Sony's last firmware update was sort of a mess, but we're finally at the point where both Sony and [...]

Wed, 26 Nov 2014 13:50:00 -0600

Grandma was right: Gratitude can make your business better. Really! Find out why.

Tue, 25 Nov 2014 23:45:00 -0600

It is the week of Thanksgiving, with all its associated holiday cheer and family togetherness. It is also the week a Grand Jury decided white policeman Darren Wilson will not face criminal charges for the shooting death of unarmed black teen Michael Brown in Ferguson, Missouri.

Mon, 24 Nov 2014 16:06:00 -0600

It’s become clear in the past few years that few technologies live in a vacuum. They’re more likely to be connected or related and sharing data, which is why it’s always better to think of the enterprise holistically rather than in silos. (Imagine how much more efficiently the federal government [...]

Sun, 23 Nov 2014 23:12:00 -0600

Counting your blessings on Thanksgiving is great, but being grateful every day will change your life.

Fri, 21 Nov 2014 15:00:00 -0600

Dan Ruch was just out of college and taking one of his first-ever business trips with a senior colleague at Mindshare, a New York-based marketing firm. Figuring it was OK to get comfy on the flight to Atlanta, Ruch showed up at the airport in sweatpants and a t-shirt. The [...]

Fri, 21 Nov 2014 14:48:00 -0600

The cost of making a new drug has grown to nearly $2.6B, according to the latest and greatest from Tufts Center for the Study of Drug Development (here).  That’s a big and almost unfathomable number.  Critics immediately pounced on it, calling anyone who believed it a flatlander (here), and suggesting [...]

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Networking Grows A Business
By Ray Yono :: Saturday, January 19, 2008 :: 18139 Views :: Article Rating :: Business & Finance, Chaldean American Professionals

When Joseph Garmo attended a Chaldean wedding, he never imagined that he would hear the benefits of his own product begin shared by a fellow guest. 

There at the table, says Garmo, another guest seated with the group began to share his excitement for a new product our firm developed to help reduce check cashing fraud.  "It was like a totally unsolicited sales pitch" for the Michigan-based firm helping the Chaldean community deal with the rash of check fraud.  “The Michigan economy is horrible. Add low morals with a poor economy and you get lots and lots of crime,” says Garmo.  “Chaldeans in large part are victims of these crimes and not much is done to help them.  We wanted to change that.”

Garmo explains how the table guest began what would continue on as a 15- to 20-minute discussion between the guests at the table about his company's product. “It was hard to keep quiet, but I did.  I wanted to hear what they would say,” he says. “I wanted to learn if our idea could make a difference.”

It was also the moment he realized the power of his connections. He hadn't spent a dime on marketing his product and before him was a table filled with his target market discussing his Check cashing prevention system.  Listening to the Chaldean business talk, Garmo realized where the guest had learned about his product. 

How did he do it?

Like many successful Chaldean entrepreneurs, Garmo tapped an age-old marketing technique: networking. Garmo had long attended the traditional Chaldean gatherings like funerals and weddings.  However, when invited to join a professional networking group called  CAP (Chaldean American Professionals) things dramatically changed for Garmo. 

CAP is a networking organization of Chaldean professionals that collaborate and share expertise as well as work to build new business.  The group meets monthly at the Chaldean community hall in Southfield.  Garmo decided to carve out a few hours to meet and network with other Michigan professionals.  It turned out to be a great decision.

At the meeting Garmo shared a few sample check scanner devices that connect to a computer.  The device scans the check, connects to the various banks to ensure there are sufficient funds, and confirms that the holder of the check has the right to cash the note.  The device also scans the fingerprint and drivers license of the customer, all of which run an immediate background check on the customer for outstanding issues. 

Garmo gave out a few of the devices, which seemed to have traveled from one person to another.  “I never thought it would get such great attention.  From that one network meeting, the news about the new product traveled very fast,” says Garmo.   “The few people I knew had a much longer list of people in the check cashing business.  Plus, I learned a great deal about their businesses and what they would like to see in future upgrades.”        

For professional Chaldean entrepreneurs -- especially those new to a specific industry -- utilizing community contacts and cultivating new ones via networking can lead not only to future sales but also to the value obtained by learning more about a specific industry. After all, knowing who the go-to people are at various companies is never as good as an introduction from a colleague they regularly lunch with.

The Chaldean American Professionals offer ten tips to help Chaldean entrepreneurs successfully network:

Keep in mind that networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others as much as you would like them to help you. 

Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. Some meetings are based more on learning or volunteering rather than on strictly making business connections.  Groups like the Chaldean American Professionals are strictly about making business connections.

Visit as many groups as possible that spark your interest. Notice the tone and attitude of the group. Do the people sound supportive of one another? Does the leadership appear competent? Many groups will allow you to visit two times before joining.

Hold volunteer positions in organizations. This is a great way to stay visible and give back to groups that have helped you.

Ask open-ended questions in networking conversations. This means questions that ask who, what, where, when, and how as opposed to those that can be answered with a simple yes or no. This form of questioning opens up the discussion and shows listeners that you are interested in them.

Become known as a powerful resource for others. When you are known as a strong resource, people remember to turn to you for suggestions, ideas, names of other people, etc. This keeps you visible to them.

Have a clear understanding of what you do and why, for whom, and what makes you special or different from others doing the same thing. In order to get referrals, you must first have a clear understanding of what you do that you can easily articulate to others.

Be able to articulate what you are looking for and how others may help you. Too often people in conversations ask, "How may I help you?" and no immediate answer comes to mind.

Follow through quickly and efficiently on referrals you are given. When people give you referrals, your actions are a reflection on them. Respect and honor that and your referrals will grow.

Call those you meet who may benefit from what you do and vice versa. Express that you enjoyed meeting them, and ask if you could get together and share ideas.