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November 3, 2009

Bold Ventures

Baker finds sweet success in Harlem
When Tonnie Rozier decided to open a cupcake shop in 2006, he rented a tiny space in Greenwich Village, near the New York University students who were his target market. Seeking to expand this year, Rozier opened a spacious new shop in his native Harlem. "Who's going to buy a cupcake for $2.25 in Harlem?" he says he initially wondered. But with lines out the door and sales up 200%, Rozier is proving that everyone loves a small indulgence. Inc.com (11/2)

Frogbox jumps on the green bandwagon
Doug Burgoyne's British Columbia-based company, Frogbox, rents plastic moving boxes that can be reused up to 400 times, compared with about a dozen times for cardboard. Burgoyne says he hopes the boxes will help make moving more environmentally friendly. Frogbox made its first delivery in June; since then it has expanded to Seattle and is planning a location in Toronto in 2010. The Globe and Mail (Toronto) (11/2)

Finance & Growth

Why slower may be better for venture capitalists
Burgeoning "slow" movements in fields such as food and travel are seeking to remind customers of the advantages of being more reflective about everyday activities. Fred Wilson writes that this idea is even finding its way to venture capital, where more investors are willing to be patient with the companies they fund. A VC blog (10/30)

CIT bankruptcy leaves small businesses in bind
More than a million business owners may have to find new lenders after CIT Group filed for bankruptcy protection on Sunday. CIT is one of the leading small-business lenders in the U.S., plus the top provider of factoring. Other lenders might normally be willing to take up the slack from CIT, but after months of recession, "there's not enough capacity out there," says one bankruptcy lawyer. Reuters (11/2) , CNNMoney.com (11/1)

The Whole Entrepreneur

5 trends that could rock your industry
Several far-reaching "megatrends" are changing the way customers and companies relate to one another, writes Adam Kleinberg. Widespread trends such as mass collaboration and constant connectivity are forces no business should ignore, he writes. Kleinberg notes how companies such as IBM and Apple are using these trends to their advantage. iMedia Connection (11/2)

Recognizing the limits of social-media marketing
Social-media marketing is sometimes presented as a sort of small-business panacea, but it does have its limitations, according to marketing strategist B.L. Ochman. Among the 10 things you can't do with social media: lock down sales, instantly fix a bad reputation or write your marketing budget down to zero, she writes. Advertising Age/Digital Next blog (11/2)

Featured Content

SmartQuote

You can climb Mount [Kilimanjaro] without a sherpa guide, but why would you?"

--B.L. Ochman, marketing consultant, writing in Advertising Age's Digital Next blog

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