Sunday, October 18, 2009
Monday, October 12, 2009
Monday, September 28, 2009
Summary of Interview with Jackie McAlister
On my weekly radio show, The Dark Side of the Moon, which airs on Thursdays, 3PM ET and can be heard by logging onto www.blogtalkradio.com/michael-ferreira, I had the privilege of interviewing Jackie McAlister, co-founder of the Cup and Saucer Cookie Company.
Jackie's mother, also named Jackie, a retired schoolteacher had seen her retirement savings dwindle due to the drop in the stock market in 2008. Determined not to let her mother spend countless hours on her feet, making minimal wage, Jackie and her mom identified one thing they both enjoyed and could do together. Bake cookies!!
What was interesting and fascinating at the same time was the preparatory work work Jackie did BEFORE she purchased a single ingredient. First, she researched the laws in her home state. She discovered that she could not sell her baked goods commercially unless they were made in a commercial kitchen. She researched the type of legal entity she and her mother should incorporate. She investigated how to build a website and begin to display her products for sale.
Jackie will be the first to admit she has a lot of learning yet to go. Her marketing plan needs a boost and she is toying with the idea of social media marketing.
Yet the key take-away is the straight-forward approach she has taken. She identified key major risks and then set forth plans to overcome them.
I plan to have Jackie return to the show in about 6 months so we can compare and contrast the additional lessons she has learned. No one can doubt her persistence and energy.
Jackie admits to learning several valuable lessons which this writer believes will influence her role as a mother an educator.
You can view and purchase these delicious cookies on www.cupandsaucercookieco.com
Jackie's mother, also named Jackie, a retired schoolteacher had seen her retirement savings dwindle due to the drop in the stock market in 2008. Determined not to let her mother spend countless hours on her feet, making minimal wage, Jackie and her mom identified one thing they both enjoyed and could do together. Bake cookies!!
What was interesting and fascinating at the same time was the preparatory work work Jackie did BEFORE she purchased a single ingredient. First, she researched the laws in her home state. She discovered that she could not sell her baked goods commercially unless they were made in a commercial kitchen. She researched the type of legal entity she and her mother should incorporate. She investigated how to build a website and begin to display her products for sale.
Jackie will be the first to admit she has a lot of learning yet to go. Her marketing plan needs a boost and she is toying with the idea of social media marketing.
Yet the key take-away is the straight-forward approach she has taken. She identified key major risks and then set forth plans to overcome them.
I plan to have Jackie return to the show in about 6 months so we can compare and contrast the additional lessons she has learned. No one can doubt her persistence and energy.
Jackie admits to learning several valuable lessons which this writer believes will influence her role as a mother an educator.
You can view and purchase these delicious cookies on www.cupandsaucercookieco.com
Tuesday, September 22, 2009
H1N1-7 Simple Things You Can Do
No matter what size your business, this potentially catastrophic pandemic can affect you, your business, customers, vendors, suppliers, banks, etc.
Understand the risk, take precautions and have continuity plans, at least in your head, so you can keep your business going.
Understand the risk, take precautions and have continuity plans, at least in your head, so you can keep your business going.
Monday, September 21, 2009
NEW BUSINESS OWNERS
As of July 2009, 14.5 million Americans were unemployed. Also at the end of July 2009, only 2.4 million jobs were open.
There are many more job-seekers chasing too few number of openings.
As a result, many Americans are turning to being self-employed. Given the fairly easily overcome, barriers to entry, many people find starting their own business to be fairly easy and fairly inexpensive.
Recently, I met a woman who explained to me that she started her Internet business because it was fairly easy, low-cost to join and she was promoting products that she had been taking for awhile and was improving her quality of life.
She had begun this business offering the products retail, then recruited other distributors allowing her to earn income from her direct sales and sales from her recruits.
When I asked her what protection did the company offer her in the event a person who ingested on these supplements, claimed illness. Her response shocked me. She told me that the manufacturer had a stellar reputation and she felt comfortable that the company would stand behind its product. However, after I read the distributors agreement, I asked her why the company was NOT extending indemnity to her if a claim should arise.
Or, the mother/daughter team making cookies for commercial sale. They intentionally avoided purchasing product liability insurance. Instead they are relying on the protection of the corporate veil, taking the position that should a claim arise, they will simply allow the company to file bankruptcy.
We have vilified the financial services sector for taking huge risks in the reckless pursuits of profits. Entrepreneurs should take care to identify and assess the exposures to risk their business poses and plan accordingly.
There are many more job-seekers chasing too few number of openings.
As a result, many Americans are turning to being self-employed. Given the fairly easily overcome, barriers to entry, many people find starting their own business to be fairly easy and fairly inexpensive.
Recently, I met a woman who explained to me that she started her Internet business because it was fairly easy, low-cost to join and she was promoting products that she had been taking for awhile and was improving her quality of life.
She had begun this business offering the products retail, then recruited other distributors allowing her to earn income from her direct sales and sales from her recruits.
When I asked her what protection did the company offer her in the event a person who ingested on these supplements, claimed illness. Her response shocked me. She told me that the manufacturer had a stellar reputation and she felt comfortable that the company would stand behind its product. However, after I read the distributors agreement, I asked her why the company was NOT extending indemnity to her if a claim should arise.
Or, the mother/daughter team making cookies for commercial sale. They intentionally avoided purchasing product liability insurance. Instead they are relying on the protection of the corporate veil, taking the position that should a claim arise, they will simply allow the company to file bankruptcy.
We have vilified the financial services sector for taking huge risks in the reckless pursuits of profits. Entrepreneurs should take care to identify and assess the exposures to risk their business poses and plan accordingly.
Monday, September 7, 2009
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