AMERICAN MUSEUM

Barnum’s American Museum Client: P.T. Barnum Tools: Illustrator, InDesign, PhotoshopSize: 9” x 5.5”Info: Hand-bound and assembled

P.T. Barnum was most famously known for starting the three-ring circus that would become today’s Ringling Bros. and Barnum & Bailey Circus. However, he spent the majority of his life running Barnum’s American Museum. Despite his being successful throughout the majority of his career, there were moments in his life where a dose of professionalism and corporate identity could have further garnered his successes.

The primary goal of this branding was to create an identity that would still communicate the client’s entertainment-oriented spirit while also eliminating any negative connotations associated with the client’s reputation.

Left: Barnum’s American Museum (top left), Supporting Icon (middle), Barnum’s American Museum Logo (bottom left), Graphics Manual and case.

Right: Logotype Construction.

brandingbranding

LOGOTYPE CONSTRUCTION

AMERICAN MUSEUM40.4pt 40.4pt

LOGOTYPE CONSTRUCTION

232 pt

18.8pt 21.4pt 18.9pt 14pt23pt 30.5pt

28pts

11%ARC

SUPPORTING TYPOGRAPHY

blues or yellows from the mark. Instead, it should only be pure black or, when appropriate, pure white. There are two

Calibri in a regular style. This should be the typeface that is primarily used. It is sans-serif, simple and clean, providing a good contrast with the mark. In instances when it is appropriate to use a serif typeface, Adobe Garamond Pro should be used. Unlike in the mark, when

in the regular style instead of bold.

use when. Both are appropriate when paired with the mark.

The quick brown fox

jumps over the lazy dog.

brown fox jumps over the

lazy dog.

The suppor�ng typography should not be done in any of the

it

Barnum’s American Museum Client: P.T. Barnum Tools: Illustrator, InDesign, PhotoshopSize: 9” x 5.5”Info: Hand-bound and assembled

To continue with the entertainment spirit of P.T. Barnum, the Graphics Manual was hand-constructed to allow for interaction with the reader via various windows and pop-ups.

The letterhead, envelope, and business cards carry the stripe theme throughout. The supporting icon is capable of being a custom stamp option.

Left: Barnum’s American Museum Graphics Manual Logotype construction and supporting typography.

Right: Collateral materials including letterhead, business

cards, and envelope.

brandingbranding

Movin’ Munch Kids Smart Phone App Client: Movin’ Munch Kids Tools: IllustratorSize: 960px x 640px

This smart phone app was created as a way for children to learn about exercise and nutrition. Children are given the opportunity to choose meals for their frog as well as various ways to exercise. Taking good care of their frog will result in prizes such as bonus games, music, and videos.

phone appphone app

Peppermint Preschool Website Client: Peppermint Preschool Tools: FlashSize: 1024px x 768px

The Peppermint Preschool Website was created with the intent of communicating to parents the caring and educational environment of the school. There site is very picture oriented, to place a focus on the students and teachers.

The opening splash page begins with a red ball that drops down and bursts to reveal the word “learn.” This is followed by a second and third ball to reveal both “play” and grow.”

web designweb design

Click to add a titleClick to add text

Click to add a title

By Name A. NameDate

SoftSummit 2012 Collateral Material Client: Flexera Software Tools: Illustrator, PowerPointSize: Variety

SoftSummit is a conference put on by Flexera Software that addresses software licensing and entitlement management. This year’s focus was on keeping pace and evolving with our ever-changing technological word. To stay competitive, software vendors must stay on top of trends as well as move to market faster and with a wider variety of applications and software.

This required a variety of materials for both print and web. Unfortunately, SoftSummit was canceled for the 2012 year.

Left: Pop-up Banner, Poster, Powerpoint Templates

Right: Booth Panels, Web Banner Countdown, T-Shirt Giveaway (used for VM

World conference)

marketingmarketing

SOFTSUMMIT COUNTDOWNSOFTSUMMIT COUNTDOWN

DAYS HOURS MINUTES SECONDS

November 5-7, 2012Fairmont San Jose

San Jose, California

Early Bird Registration$595

Ends July 31

KEYNOTE SPEAKERSKEYNOTE SPEAKERSNOTNOTNOTNOTKEYNKEYNKEYNKEYN

Research Vice President,Software Licensingand Provisioning

Amy Konary VP, Supply Chain Operations

Chief Executive O�cer

Mike Lydon Mark Bishof

IDCCiscoFlexera Software

Twire Clothing Fall Catalog Client: Twire Clothing Tools: Illustrator, Photoshop, InDesignSize: 8.5” x 11”Pages:

The Twire Clothing catalog was created for the Fall 2011 line release. The target demographic is young women between the ages of 18-25.

catalogcatalog

32 33For orders visit www.twire.com or call 1-800-698-9473

Fall 2012

&33For orders visit www.twire.com or call 1-800-698-9473

Fall 2012

mules A. Double buckle dark brown mules. Fully treated leather ready for any type of environment. Sizes 5-12 $44.99

B. Hand-stitched highly durable mules. Available in Tan and Black. Sizes 5-12 $54.99

C. Single buckle leather clogs. Available in Black, Brown, and Tan. Sizes 5-12 $54.99

A.

B.C.

BELTS , SCARVES , & TIGHTS ,oh my!

Extra-Stretch tights available in Grey, Charcoal, Teal, Purple, Maroon,and Red. S, M, L, XL $9.99

3 for $203 for $20 clogs1For orders visit www.twire.com or call 1-800-698-9473

Fall 2012

INTRODUCING OUR

BEST FALLeverNow with

FREE SHIPPINGon all orders!

E-mail Templates & Banners Client: Flexera Software Tools: Illustrator, DreamweaverSize: Variety

Each of these web designs was used as a part of e-mail marketing.

Left: Intranet Online Store Web Email

Right: Winter Partner Conference Email, Landing Page Banner, Registration

Button

webweb

Save the Date!Join us for an exclusive Flexera Software

Partner Conference in Park City, Utah

• Network with your peers and industry execut ives• Learn more about Flexera Software products and strategy• Find out how our partner program can help increase your business• Have some fun on the slopes!When:Monday, January 14, 2013 to Wednesday, January 16, 2013

Where:The Yarrow Hotel & Conference Center Park CityPark City, Utah

Registrat ion: $299We’ll pay two-night’s room and board!

Save the Date!Join us for an exclusive Flexera Software

Partner Conference in Park City, Utah

This is an invite-only event and space is strict ly limited, so reserve your seat as soon as possible. Visit URL for complete details and to register.

Please contact me with any quest ions. I look forward to seeing you in Utah!

Best Regards,Jeff Greenwald Senior Director, Strategic Alliances1000 E Woodfield Rd Suite 400Schaumburg, IL 60173T: (847) 466-4242M: (847) 414-9366jgreenwald@flexerasoftware.com

Strategic Alliance Summit!

Register Now!

StartUp Magazine, August 2012 Client: StartUp Magazine Tools: Illustrator, Photoshop, InDesignSize: 8” x 10.5”Pages: 20 pages

StartUp is a small magazine that focuses on points of interest for entrepreneurs, small businesses, free-lancers, and start-ups. The August 2012 issue features 4 articles on a number of different topics.

Left: Cover

Right: Feature “How Entrepreneur’s Think,”

6 pages.

publishingpublishing

Professionals who work closely with them and researchers who study them have often speculated about what makes entrepreneurs

“entrepreneurial”. Of course, entrepreneurs also love to hold forth on this topic. But while there are as many war stories and pet theories as there are entrepreneurs and researchers, gathering together a coherent theory of entrepreneurial expertise has thus far eluded academics and practitioners alike.

What are the characteristics, habits, and behaviors of the species entrepreneur? Is there a learnable and teachable “core” to entrepreneurship? In other words, what can today’s entrepreneurs such as Rob Glaser and Jeff Bezos learn from old stalwarts such as Josiah Wedgwood and Leonard Shoen? Or even within the same period in history, what are the common elements that entrepreneurs across a wide variety of industries share with each other? In sum, is there such a thing as “entrepreneurial thinking” that can be applied across space, time and technology? In 1997, I set out on a rather perilous but exhilarating journey to investigate this question. Traveling across 17 states in the US over

several months, I met with 30 founders of companies ranging in size from $200 M to $6.5 B and spanning a variety of industries from steel and railroad to teddy bears and semiconductors and bio-tech. The idea behind the study was not merely to interview these founders, but to get behind their stories and understand how they reason about specific problems in transforming an idea into an enduring firm.

The entrepreneurs worked their way through a 17-page problem set over two hours, talking aloud continuously as they each solved exactly the same ten decision prob-lems to build a company starting with exactly the same product idea. Rigorous analyses of the transcribed tapes led to rather surprising but eminently teachable prin-ciples. This set of principles, when put together, rested on a coherent logic that clearly established the existence of a distinct form of rationality that we have all long recognized intuitively as “entrepreneurial”. For reasons that will become clear in the next section, I have termed this type of rationality “effectual reasoning”.

“Real life examples of effectual processes in entrepreneurship

abound. The stories of effectuation permeate and

saturate the history of entrepreneurship since at least

the eighteenth century.”

Effectual reasoning: The problem

The word “effectual” is the inverse of “causal”. In general, in MBA programs across the world, students are taught causal or predictive reasoning - in every functional area of business. Causal rational-ity begins with a pre-determined goal and a given set of means, and seeks to identify the optimal - fastest, cheapest, most efficient, etc. alternative to achieve the given goal. The make-vs.-buy deci-sion in production, or choosing the target market with the highest potential return in marketing, or picking a portfolio with the lowest risk in finance, or even hiring the best person for the job in human resources management, are all examples of problems of causal reasoning. A more interesting variation of causal reasoning involves the creation of additional alternatives to achieve the given goal. This form of creative causal reasoning is often used in strategic thinking.

Effectual reasoning, however, does not begin with a specific goal. Instead, it begins with a given set of means and allows goals to emerge contingently over time from the varied imagination and di-verse aspirations of the founders and the people they interact with. While causal thinkers are like great generals seeking to conquer fertile lands (Genghis Khan conquering two thirds of the known world), effectual thinkers are like explorers setting out on voyages into uncharted waters (Columbus discovering the new world). It is important to point out though that the same person can use both causal and effectual reasoning at different times depending on what the circumstances call for.

In fact, the best entrepreneurs are capable of both and do use both modes well. But they prefer effectual reasoning over causal reasoning in the early stages of a new venture, and arguably, most entrepreneurs do not transition well into latter stages requiring more causal reasoning. While causal reasoning may or may not

involve creative thinking, effectual reasoning is inherently creative. The simple task of cooking dinner may be used to contrast the two types of reasoning. A chef who is given a specific menu and has only to pick out his or her favorite recipes for the items on the menu, shop for ingredients and cook the meal in their own well equipped kitchens is an example of causal reasoning. An example of effectual reasoning would involve a chef who is not given a menu in advance and is escorted to a strange kitchen where he or she has to explore the cupboards for unspecified ingredients and cook a meal with them. While both causal and effectual reasoning call for domain-specific skills and training, effectual reasoning demands something more - spontaneity, risk taking, and salesmanship.

Effectual reasoning: The process

All entrepreneurs begin with three categories of means: ( I) Who

they are – their traits, tastes and abilities; (2) What they know - education, training, expertise, and experience; and, (3) Whom they know – their social and professional networks. Using these means the entrepreneurs begin to imagine and implement possible effects that can be created with them. Most often, they start very small with the means that are closest at hand, and move almost directly into action without elaborate planning. Unlike causal reasoning that comes to life through careful planning and subsequent execution, effectual reasoning lives and breathes execution. Plans are made unmade and revised and recast through action and interaction with others on a daily basis. Yet at any given moment, there is always a meaningful picture that keeps the team together, a compelling story that brings in more stakehold-ers and a continuing journey that maps out uncharted territories. achievable and desirable goals -- landmarks that point to a discern-ible path beginning to emerge in the wilderness.

FEATU

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“I think if you spend too much time doing ready aim-aim-aim-aim, you’re never gonna

see all the good things that would happen if you actually start doing it and then aim.”

Yet, in our classrooms, we teach potential entrepreneurs an extremely causal process – the sequential progression f rom idea to market research, to financial projections, to team, to business plan, to financing, to pro-totype, to market, to exit, with the caveat, of course, that surprises will happen along the way. Seasoned entrepreneurs, however, know that surprises are not deviations from the path. Instead they are the norm, the flora and fauna of the landscape, from which one learns to forge a path through the jungle. The unexpected is the stuff of entre-preneurial experience and transforming the unpredictable into the utterly mundane is the special domain of the expert entrepre-neur.

affordable loss: The process

Let us consider how the two processes operate in the simple case of building a restaurant. Imagine an entrepreneur who wants to start an Indian restaurant. In the causal process that we teach, she would start with some market research into the restaurant industry in the city of her choice; select a location very carefully based upon the market research; segment the market in a meaningful way; select target segments based on estimates of potential return; design a restaurant to appeal to her target segments; raise the required fun ding; bring her team together; and finally, implement specific market strategies and manage daily operations to make her restaurant a success.In the effectual process, it would all depend

on who our entrepreneur is, what she knows, and whom she knows. For the sake of understanding the process here, let us say she is a good Indian chef who is considering starting an independent business. Assuming she has very little money of her own, what are some of the ways she can bring her idea to market?

When used as a class exercise, students usually suggest courses of action such as partnering with an existing restaurant, participating in ethnic food fairs, setting up a catering service and so on. Let us say that the actual course of action she decides to pursue is to persuade friends who work downtown to allow her to bring lunch for their office colleagues to sample. Let us fur-ther say that some customers then sign up for a lunch service and she begins preparing the food at home and delivering lunches personally. Eventually, she could save up enough money to rent a location and start a restaurant.

The leveraging contingencies principle

Real life examples of effectual processes in entrepreneurship abound. In fact, the sto-ries of effectuation permeate and saturate the history of entrepreneurship since at least as far back as the eighteenth century: In the eighteenth century, a potter named Josiah Wedgwood, realized that pots can carry people’s aspirations for social mobil-ity; in the twentieth, King Gillette began toying with the idea of creating something

that customers would want to repeatedly re-purchase and while shaving one morning, hit upon disposable razors as a pos-sibility.

Tom Fatjo, a respectable profes-sional in Houston, practically got dared into founding the garbage giant BFI during a suburban subdivision meeting to solve the community’s garbage disposal problems; and closer to the twenty-first century, while trying to build an interactive cable channel with progressive content, an ex-Microsoft execu-tive named Rob Glaser fell in love with Mosaic, and set out to give voice to the mute Web in the form of Real Networks; and so it goes.

Does all this mean, though, that we are once again resorting to tales by the campfire? It turns out that all these stories have some common principles of reasoning that invert their counterparts in causal reasoning. Moreover, these principles tie together into a coherent logic that demonstrates that this is indeed a convincing alternative to causal rationality.

So What’s the Difference?

While managers are taught to analyze the market and choose target segments with the highest potential return entrepreneurs tend to find ways to reach the market with mini-

mum expenditure of resources such as time, effort and money. In the extreme case, the affordable loss principle translates into the zero resources to market principle. Several of the expert entrepreneurs I studied in-sisted that they would not do any traditional market research, but would take the product to the nearest possible potential customer even before it was built.

I quote but one of them, “I think I’d start by just...going ... instead of asking all the questions I’d go and say...try and make some sale. I’d make some...just judgments about where I was going company, I ordered people not to think about competitors. Just do your job. Think only of your work.” Instead entrepreneurs focus on building

partnerships right from the start. In fact, the ideal beginning for a successful startup seemed to be the induction of customers into strategic partnerships.

Again, to hear it from the horse’s mouth, “Traditional market research says, you do very broad based information gathering, possibly using mailings. I wouldn’t do that. I would literally, target, as I said initially key companies who would call flagship, do a frontal lobotomy on them...The challenge then is really to pick your partners, and package yourself early on before you have to put a lot of capital out” The strategic partnerships principle dovetails very well with the affordable loss principle to bring the entrepreneurs’ idea to market at really

low levels of capital outlay. Furthermore, obtaining pre-commitments from key stake-holders helps reduce uncertainty in the early stages of creating an enterprise. Finally, since the entrepreneur is not wedded to any particular market for their idea, the expand i ng network of strategic partner-ships determines to a great extent which market or markets the company will eventually end up in.

FEATU

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“What are the characteristics, habits, and behaviors of the

species entrepreneur? Is there a learnable and teachable ‘core’

to entrepreneurship?”

ThinkHOW ENTREPRENEURS

Why an Effectual Approach Makes Them Different

by Saras D. Sarasvathy

FEATU

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How to Quit Your Job When You Are Terri�ed p.13

15

StartUp Magazine, August 2012 Client: StartUp Magazine Tools: Illustrator, Photoshop, InDesignSize: 8” x 10.5”Pages: 20 pages

StartUp is a small magazine that focuses on points of interest for entrepreneurs, small businesses, free-lancers, and start-ups. The August 2012 issue features 4 articles on a number of different topics.

Left: “Scouting Out a Location for Your Business,” 4 pages.

Right: “How to Quit Your Job and Start Your Business When You’re Terrified,” 3 pages. “Pay Attention to Your

Cash,” 2 pages.

publishingpublishing

by Jennifer Gresham

It’s agonizing isn’t it? You know you don’t belong in your job. Sure, it puts food on the table and keeps a roof over your head, and with the economy the way it is, you should probably feel grateful for having a job at all, but you wonder…

THE IN

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C ould you make it on your own? Could you take the leap and be your own boss? Could

you get up every morning and actually be paid well to do what you love? A part of you thinks you could. A part of you thinks you would be great at it. A part of you believes doing anything less would be a waste of your God-given talent. But that’s the problem: it’s only a part.

The rest of you thinks about quitting your job and wants to throw up. It worries about being homeless, looking like a loser, and ruining your child’s life. “Be rational,” it says. “Who are you to want so much? Just be happy with what you’ve got.” And so you end up in knots, tossing and turning at four in the morning as the two sides war within you. Which one is telling the truth? Which one is lying? You just can’t tell, and the uncertainty of it is driving you crazy…

I know, because I HAVE been there TOO.

Three months ago, I did something crazy: After thirteen years as a nurse-midwife, I resigned from my staff position at a hospital. I’ve always been the financial provider in my family, supporting my husband as he pursues his dream of writing the great American novel, but one day, I just wasn’t happy with it anymore.

I had noticed, however, that what I loved most about my work as a midwife was talking with my patients about their hopes for their lives and their families. I realized that I was not only helping them give birth to their babies - I was helping them give birth to their dreams. And

then, two years ago, I had the epiphany, “These women need a midwife for their LIFE,” and my personal coaching business was born. I built it while I continued to work the same hours at the hospital. It’s required me to work a lot of late nights and weekends, but when my clients tell me that I’ve helped them accomplish dreams they had all but given up on, it makes it all worth it. In fact, it’s all I want to do.

I love my business and it’s grown a lot over the last two years, but not enough to support my family. So I should’ve stayed at my hospital job, right? I couldn’t do it. I saw my friends being supported by their husbands as they pursued their creative dreams, and I looked at my husband, and I thought, “Why should they get to pursue their passions and I don’t? When would it be my time?”

It made me feel jealous and powerless and taken advantage of, and I couldn’t stand it. Yes, I want my husband to become the next JK Rowling, but I can’t wait forever. I was using food and reality television to fill the void of wanting what I couldn’t have, and that created more pain I didn’t need. Suddenly I understood men who come home after a long day and need a Scotch or two before dinner.

Quite frankly, it sucks to feel like your dreams are drifting away while you’ve got a family to support, and sometimes you just want to check out. But I don’t want to be that man. This is my life, and I don’t want to check out for one minute. I don’t want my husband to be that man either. I want both of us to pursue our dreams and support our family at the same time. Why does it have to be so damn hard?

Your ego wants to keep you safe

(and mediocre).

Whether you call it your Ego, or your “voice of reason”, or—my favorite—your inner critic,

there is a part of your psyche that wants to protect you. And if that means sacrificing your dreams, so be it. To your Ego, your survival is the only thing that counts, and your dreams are nothing more than a dangerous distraction. The truth is, your Ego is just another voice inside your head. You need to view it as a trusted advisor who wants you to think about the risks involved before you do anything unconventional. It’s prudent to listen to that voice, but you don’t have to obey it. In fact, challenging it on a regular basis is probably one of the best things you can do. And how do you do that?

Ask powerful questions.

The key to coming to terms with the Ego is to ask it powerful questions. Asking, “I’ve always struggled financially, so I guess I’m just not supposed to be an artist, right?” is not a powerful question. But asking, “Of the successful artists I admire, who would be willing to mentor me?” is—because it leads you in the direction of your dreams. Small questions are powerful too. “What is the first small step I can take on the road to my dreams?” is an excellent question. “What’s the next small step?” is a great follow-up.

Engage your Ego in a dialogue around powerful questions, and I promise you’ll receive good answers. You know you’re asking a good question by the quality of your answer. If you don’t like the answer, change the question! The point is to free up the voice of your passion and tone down the voice of your fears.

Plan for the worst.

Your Ego has another tool in its toolbox and it’s called The Worst-Case Scenario. Make no mistake, the worst-case scenario is daunting, but it’s never a good reason to abandon your dreams. How do you deal with it? Think about crises before you start any passion-driven work

Make no mistake, the worst

case scenario is daunting, but

it’s never a good reason to

abandon your dreams.

there is a part of your psyche that wants

to protect you. And if that means sacrificing

your dreams, so be it. To your Ego, your

survival is the only thing that counts,

and decide beforehand what you will do. Before I started my business I made an agreement with my Ego that it would be time to quit if I ever couldn’t pay the bills. Yes, I could tap every bit of our savings and invest them in my business, but I would never put anything on a credit card that I couldn’t pay at the end of the month. I’ve kept that agreement. I’ve also considered the mother of all worst-case scenarios: being homeless, looking like a loser, and ruining my son’s life. I came up with a plan. If my business doesn’t support my family fast, I’m willing to move us to Guatemala, where we can live well on the rental income from our house. Now, living in Guatemala may not be the price you’re willing to pay, but are you willing to consider the worst thing that could happen to you (and your family) if you were to pursue your dreams? Can you acknowledge that there is always something you could do to make it better? Answer “yes,” and you can get on with the business of doing your great work.

The World Needs You.

You may continue to feel fear — the Ego is a white-knuckle flyer even when you coax it onto the plane—but if you can remind your Ego of your agreements, you’ll stop feeling scared out of your mind. The good news is that you’re on this path for a reason. The world doesn’t need more people mired in mediocrity, waiting to punch out at the end of the day and knock back a drink. We need you to fulfill your purpose and become truly alive.

So challenge those voices of “reason” inside your head. Plan for the worst-case scenario. And no matter what, never stop believing in yourself. Regardless of what anyone says, you can live the life of your dreams. Now go for it!

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800-233-9790800-233-9790Levin Management Corporation

-

“...being located near your competition can be a boon to business, provided you’re

confident enough.”

you?” asks Kahn. “It’s that easy.” What’s more, being located near your competition can be a boon to business, provided you’re confident enough in your product to outsell your competitors. “Competition is good,” concurs Blake Tartt III, president and CEO of commercial real estate firm New Regional Planning in Houston, known for his work on major malls and other commercial developments. “It makes the retailer or the restaurant better-competition breeds more business, more traffic, and that’s a positive. If my clients are good, I tell them to go right up against the competition.”

Of course, it’s still a good idea to make your own evaluations of a particular property, even if your competitors seem to be thriving in the area. Staying ahead of the game in this regard will help your business grow should you decide, for instance, that you later want to open an alternate location.

Do You Need Professional Help?

But your job isn’t done even when you think you’ve found a good spot for your business. Negotiating a lease that works for you and your business is just as important as the location itself. “It’s very important that you have a good lawyer who can negotiate your lease-that’s another cost,” says Tartt. Your attorney can help you look at things like the term of the lease, buildout allowance and the condition of the property.

He or she can also help you talk to the landlord so you ask the right questions. “Interview the landlord as hard as you look for the location,” cautions Tartt. “You’re marrying your landlord. There are a lot of

unscrupulous [ones] out there-they tend to have a ‘me’ mentality.” Making use of a local real estate professional who understands your customers as well as you do is also a great idea. Depending on whether you’re opening a food business or a retail store, you’ll want to discuss things like the type of merchandise your target customers buy or the sort of food they like to eat. “I believe that in every town, there is some real estate professional who knows his or her city backward and forward,” says Tartt. “The really with-it real estate person is studying all those trends, traffic patterns and demographics.”

Having someone help you with your business plan before you even begin the location search can be invaluable as well. Entrepreneur.com has a guide to writing a business plan that offers information and resources to help you in this process, so that’s a good place to start. A business coach or business plan consultant can also help you through this process; ask around in your network of colleagues for referrals, or check with your local Small Business Development Center for additional assistance.

“Know what your business plan [says] when you’re looking for a location,” says Tartt. “Know what your strategic objectives are.”

Being aware of all the location costs involved with starting your business will do wonders for your ability to weather any storms that might-and likely will-come your way. Underestimating the costs and the time involved with launching your business-especially when it comes to your location-is one of the most common startup mistakes, and one you can avoid if you plan properly. If

you take into account everything from broker, attorney, engineering and architect fees to zoning and planning hearings, you can see that both the costs and the time to startup can vary widely.

The best advice? “Talk to other people in the business-learn from them what they’ve experienced, what the pitfalls are, what things to look out for,” says Rodelle. “You’ve gotta do your homework. You can protect yourself, your business, and come out ahead.”

It’s time to put location at the top of your to-do list. If you’re preparing to open a food or retail business with a storefront, putting your business in the proper location might be the

single most important thing you do at startup. Of course you need a winning product, too, but how will anyone know about that product unless you get them through the door?

“In the brick-and-mortar retail world, it’s said that the three most important decisions [you’ll make] are location, location and location,” affirms Irene Dickey, a lecturer in management and marketing at the University of Dayton’s School of Business in Dayton, Ohio. “Careful determination of new sites is critical for most retail, as well as consumer service businesses.”

Check Your Demographics

Making these determinations can be as simple or as complex as you make it. There are, for instance, sophisticated location analysis tools available that include traffic pattern informa-tion, demographic and lifestyle data, and competitive analyses. Adds Dickey: “For a price, a retailer can ask such questions as, ‘If I’m looking to add a store to a particular market, what’s the optimum level of traffic as it relates to the specific targeted trade area? What is the overall type of traffic? Once consumers are in the store, is there any way to measure the traffic patterns in the store?’”

“Do your due diligence,” advises Michael Rodelle, director of real estate for the Papa Gino’s Inc./D’Angelo Sandwich Shops franchise, based in Dedham, Massachusetts.

“Get a demographic overview of the area you’re looking at-age, income, households, etc.”

In addition, you should look at neighborhood traffic generators, such as other retailers that draw people to the area, industrial or office parks, schools, colleges and hospital complexes. You’ll also want to look at both highway and foot traffic. Carlos Silva, co-founder of Memphis Championship Barbecue in Las Vegas, learned all about finding a good location when he and his three co-founders (Dick Hart, Mike Mills and Dan Volland) opened their first restaurant in 1994. “We opened our first business in the middle of nowhere, and we had to work to get people to go to it,” says Silva.

That’s not to say it was a bad location-Silva says it fit in terms of the restaurant’s theme. But it did require more of an effort to establish a presence. With three other locations now up and running, one of them inside a casino, the founders seem to have found their groove. “What we’ve done in Vegas is gone to each corner of the city,” says Silva, who says the restaurants’ sales have grown 25 percent over last year’s, with 60 percent growth projected for 2004. “You’re able to get to a Memphis restaurant within 10 minutes.”

Look Your Competitors in the Eye

Many experts agree, though, that the answer to where you should locate is more straightforward than many entrepreneurs

make it. “Quite simply, the best place to be is as close to your biggest competitor as you can be,” says Greg Kahn,

founder and CEO of Kahn Research Group in Huntersville, North Carolina, and a behavioral research veteran who’s

done location research for Arby’s, Buffets Inc., Home Depot, Subway and other major and minor players.

“Foot traffic is obviously important, but landing the ‘perfect’ customer is far more crucial. By being

in close proximity to your competitors, you can benefit from their marketing efforts without

doing a thing.”

In other words, your competitors chose their locations based on the ideal demographics of a particular area, says Kahn. In many cases, they’ve also devoted large portions of their advertising budget toward driving traffic to their locations. “Why spend the money when they’ve already [spent it] for

PLA

NNING

MONEY

PAY ATTENTIONTO YOUR cash

There are frighteningly many small business owners out there who do not understand their cash flow statement. A shocking fact considering that all busi-nesses essentially run on cash. And Cash flow is the life-blood of your busi-ness. Some business experts go so far as to say a healthy cash flow is even more important than your business’s ability to deliver its goods and services! You may find that perspective hard to swallow, but consider this – if you fail to satisfy a customer and lose that cus-tomer’s business, you can always work harder to please the next customer. But if you fail to have enough cash to pay your suppliers, creditors, or your employees, you’re out of business!

What Is Cash Flow? Cash flow, simply defined, is the movement of money in and out of your business; these movements are called inflow and outflow respectively. Inflows for your business primarily come from the sale of goods or services to your customers. The inflow only occurs when you make a cash sale or collect on receivables, however. Remem-ber, it is the cash that counts! Other examples of cash inflow are…borrowed funds, income derived from sales of assets, and investment income from interest. Outflows for your business are generally the result of paying expens-

es. Examples of cash outflow are…paying employee wages, purchasing inventory or raw materials, purchasing fixed assets, operating costs, paying back loans, and paying taxes. Your ac-countant is the best person to help you learn how your cash flow statement works. At your annual review or audit, make sure your accountant explains where the numbers come from in your cash statement.

Cash Flow Verses ProfitProfit and Cash flow are two entirely different concepts, each with entirely different results. The concept of profit is somewhat broad and only looks at income and expenses over a certain period of time, say a fiscal quarter. Profit is a useful figure for calculating your taxes and reporting to the IRS.

Cash flow, on the other hand, is a more dynamic tool focusing on the day-to-day operations of a business owner. It is concerned with the movement of money in and out of a business. But more importantly, it is concerned with the times at which the movement of the money takes place. Theoretically even profitable companies can go bankrupt. It would take a lot of negligence and total disregard for cash flow, but it is possible. Consider how the difference between profit and cash flow relate to

your business. For example, if your retail business bought a $1000 item and turned around to sell it for $2000, then you have made a $1000 profit. But what if the buyer of the item is slow to pay his or her bill, and six months pass before you collect on the account?

Your retail business may still show a profit, but what about the bills it has to pay during that six-month period? You may not have the cash to pay the bills despite the profits you earned on the sale. Furthermore this cash flow gap may cause you to miss other profit op-portunities, damage your credit rating, and force you to take out loans and create debt. If this mistake is repeated enough times you may even go bank-rupt!

Analyzing Cash FlowThe sooner you learn how to manage your cash flow, the better your chances for survival will be. Furthermore you will be able to protect your company’s short-term reputation as well as posi-tion it for long-term success.The first step towards taking control of, and properly managing your company’s cash flow is to analyze the components that affect the timing of your cash in-flows and outflows. Narrowing, or even closing, these gaps is the key to cash flow management.

Cash Flow The Pulse Of Your Business

Animated Holiday Card Client: Flexera Software Tools: Illustrator, FlashSize: 976px X 579pxInfo: 15 fps

This year’s holiday card animation began with following a snowflake down onto a sledder’s hat. The sledder goes down a hill, past a small town, off a jump, and shoots through the Flexera Software logo.

4 more sledders continue off the jump to reveal the holiday greeting. Through out the animation, cheerful holiday music loops.

Left: Illustrated backdrop for animation

Right: Animation story board

animationanimation

Animation can be viewed here.

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