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October 29, 2009

Bold Ventures

Pumpkin artist carves a profitable niche
Sean Fitzpatrick was an auto mechanic who turned to building snowmen and sand castles to express his creative side. After earning a few prizes and some media attention, he launched a Web site to feature his creations, and he branched out into pumpkin and ice carving. Even during a recession, he continues to make more money creating sculptures for corporate events than he did as a mechanic. The Wall Street Journal (10/27)

Why Hollywood hates those Redbox kiosks
Redbox, a creation of McDonald's business incubator, rents DVDs for $1 a day from 21,000 kiosks -- and President Mitch Lowe says Hollywood feels threatened by the company's success. Three studios won't release DVDs directly to Redbox, forcing employees to buy the discs at retail in order to stock the kiosks. Lowe insists that his company can help studios by promoting movies that might have performed poorly in theatrical release. "At some point they'll turn around," he says. Forbes (10/26)

Vinci uses a different game plan
Vinci, a family-owned maker of baseball gloves, is too small to pay for big-name endorsements, so it woos small names instead. The company befriends players in the minor leagues, and if those players get called up to the big leagues, the payoff can be huge. After the Atlanta Braves signed pitcher Vladimir Nez, more than 10 new retailers agreed to carry Vinci gloves. CNNMoney.com/Fortune Small Business (10/28)

Finance & Growth

Bankers are wary of Obama's small-business lending plan
Community banks have typically been slow to participate in government programs, and the White House's plan for boosting small-business loans may be no exception. Officials from the American Bankers Association say demand for some loans is low, processing loans through the federal program takes too long and that banks are reluctant to accept additional restrictions in exchange for the money. Reuters (10/27)

The Whole Entrepreneur

Don't flip under pressure
Our strengths are often the flip side of our weaknesses, writes executive coach Gill Corkindale, who notes that high-pressure situations can sometimes shift a positive trait to a negative one. Research in the U.K. has identified 11 such dichotomies likely to derail a career, including charming-manipulative and diligent-perfectionist. Harvard Business Review online/Letter from London blog (10/21)

What's your story?
An effective brand tells a story that allows consumers to form a relationship with your company, according to branding expert Mary van de Wiel. Your story differentiates your brand and makes you memorable, but it has to be authentic. "If you want others to recognize you, the best way to do it is to recognize yourself first," she writes. Entrepreneur.com (10/19)

Featured Content

SmartQuote

Do what you love and do it well. The money will follow."

--Sean Fitzpatrick, sculptor, as quoted by The Wall Street Journal

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