Archive - Business

Netflix Goes Mainstream with Launch of House of Cards

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What if I told you that your viewing experience has changed forever? Well, I’m not that far off from the truth. The fact is that every day our use of technology is making that statement a concrete fact. Not many of us can say we set a schedule to make sure we are sitting in front of our television for our favorite show. Why should we when we can just catch up online or at any odd hour with the wonderful tool – the DVR? And if that isn’t already awesome, our life as a viewer may have just gotten a bit easier with the creation of web based series.

Netflix, the leader in on-demand Internet streaming media, now with over 26 Million subscribers, has stepped into the world of original programming. On February 1st,Netflix launched “House of Cards”, an adaptation of a 1990 BBC mini-series which in this version take place in Washington DC. All 13 episodes are made available at once, allowing users to watch in marathon sessions compared to waiting a week as in prime-time television. Currently, about 10% of subscribers and those with access to Netflix viewed at least one episode of House Of Cards in the first 12 days after it became available.

More individuals are moving from traditional ways of watching television and consuming media, some going as far as cutting cable all together. Netflix, a true media innovator has a real understanding of the market and the constant change that is occurring among the individuals who subscribe to their service. Moving towards creating and maintaining their own original content is not only a smart move but a strategic one, giving individuals a chance to feel like they are truly watching television programming but also have the option to watch an entire season marathon style. Releasing an entire season of a television show will change how future series may be produced. There is no opportunity for last minute changes to ensure the audience is held into the show. They have to get it just right the first time around. Which leads us to a few other questions; will the next awards how season have a new category – Best Original Web series? How will this impact those other shows in the running?

Or just imagine if they picked up shows like “How to Make It in America” and “Boss”, everyone would tune in for the price. Right now, competitors like Amazon and Hulu are within the same price range; Hulu also produces original content but seems to have less interest. But it does make you wonder how deals from already produced and successful shows will transfer to the world of on-demand viewing. In my fantasy world, this could lead to the possibility of dropped or cancelled shows making a comeback.

If a simple game change from weekly airings to straight marathon watching creates waves on how shows are produced and exclusivity rights are signed, this will most definitely mark a new era in how marketers and advertisers forge ahead to grab the interest of their audience; from how sponsorship is presented to the ever so notable product placement spots within the shows. How do they target and claim this new type of viewer? I’ll tell you one thing, it will without a doubt lead to how viewership is going to be measured/ monitored and rated. If that happens, your favorite show may still face the chance of being cancelled. Of course, this is just the beginning,we’ll just have to watch and see how it all plays out.

Supporting Local Business for Dummies: 4 Simple Ways to Support Local Business

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While reading an article from Black Enterprise entitled 4 Ways to Support Black Business I thought how can I apply this to businesses in general. When it comes to emerging and local businesses it can be hard to get customers to support you, below are 4 simple tips to help support the local business in your community based off of the aforementioned article.

1. Finding Local Businesses You are surrounded by great local businesses that you may not even notice in your neighborhood. Find out by asking friends, contact the local block or merchants association, going online and checking your local business directory such as TalkisCheep.com (hint, hint, lol) or take a casual walk and explore your neighborhood.

 

2. Make supporting local businesses a priority Local businesses are the backbone of our neighborhoods. The 3/50 project created back in March of 2009 brought attention to the importance of supporting local brick and mortars and it only takes about $50 each month, The 3/50 Project states that “If half of of the employed population spent $50 each month at locally owned independent businesses, it would generate for than $42 billion dollars in revenue and if for every $100 spent at a locally-owned business, $68 stays in the local community through taxes, payroll, and other expenditures compared to only $43 if spent at a national chain”

 

3. Share information with your network, family and friends. Once you identify the local businesses you enjoy in your community, encourage others to support them too. Word of mouth is still one of the best and most trusted forms of referrals, we tend to listen to the suggestions of our family and friends over any publication. And with the help of social networks the referrals are endless.

 

4. Don’t be put off by a bad experience* “Someone can go to a place and have a bad experience and make a sweeping statement like, ‘That’s why I don’t support small businesses.’ I think that’s the wrong attitude,” says Thomas. Instead, she suggests responding to poor service by cordially asking to speak with the management and making a decision based on the outcome.

*Step 4 is taken directly from the article with a small tweak I thought the advice was right on point

Words of Wisdom from a Business Mastermind: @IAMDIDDY

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Last night as I was brainstorming when @GreatScottInc posted this video by a businessman who I admire deeply. Anyone who knows me knows I always speak of his, for lack of a better word, Grind! Diddy’s perseverance, how he stays relevant as well as keeps up with technology and trends and his strategic business moves always intrigued me.

Stop Trying to Reinvent the Wheel………but Why?

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This year we have seen various businesses commit some serious blunders and/or accept ultimate defeat. Blockbuster finally gave in and filed for bankruptcy as their competitor Netflix dominated the market and contributed to the demise of the local video rental service. Then you have the opposite of the spectrum with GAP and the logo catastrophe where literally thinking outside of the box caused a huge commotion amongst its customers causing them to revert back to the original logo.

During my usual tweets and rants I came across this tweet from @ThroatChopU:

thinking outside of the box@ThroatChopU‘s tweet really got me to thinking,  many well established Brands are either too afraid to think outside of the box or are straying so far from it they are losing the identity of the brand in the process. And I thought to myself the perfect equilibrium between the two would be to try to reinvent the wheel. People always say “Stop Trying to Reinvent the Wheel” but why?, updating and reinventing is what makes brands, businesses and products better and takes them to the next level.

The biggest issue is figuring out which route to choose for your business, in some cases all you may need to do is revamp your image by reinventing and for others you may have to go outside of the norm and break barriers to keep your brand relevant. Take Blockbuster as an example, when Netflix came out it was not well known and did not have the brand presence that Blockbuster had also I am sure many individuals were unsure of giving their info online and having a movie mailed to them. Being that Blockbuster had such a strong brand identity, especially in the local community, they could’ve mimicked Netflix business model while maintaining their presence in the community with maybe offering a service for those who have forgotten to return their movie and arrange free pickup for local customers as well as deliver their next movie in the queue.

Now GAP who has maintained its iconic brand for decades decided to revamp their logo and the response of disdain by brand loyalist was overwhelming. Many believed that the new logo cheapened the brand, and though GAP may have thought they were thinking outside of the box both literally and figuratively their marketing and branding team should have known to leave well enough alone. Though the re-branding of the logo warranted a bad response it let GAP know that their brand was not in danger and affirmed customer loyalty.

GAP

Lesson here is “Reinventing the Wheel” and refreshing your brand during times of hardship can be a pro or con depending on the level of customer loyalty during said crisis.  In addition, it is fine to reevaluate how effective/affective your brand is every once and a while but don’t stray away from your original idea and lose  your brand identity in the process and confuse your customers.

Get Off Your Arse: 3 Tips to Stop Slacking!

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Once again on my daily ride on the iron horse I came across a great article that put an extra pep in my step called “Turn Around Your Slacker Attitude” which gave three tips on how to do just that. It is very easy to become complacent at times when working and fall to the temptations of procrastination for many people, myself included.  This article was in reference to getting back into the groove of exercising but you know I had to flip it.

Tip #1 - Start with a Clean Slate – The longer you have been inactive, the harder it will be to get moving again. So the best thing to do is start anew. It is imperative that you are receptive and understand the importance of the benefits of being consistently proactive with your business.

Tip #2 – Change your Mindset – Stop accepting all the things that come hand-in-hand with laziness. Instead of thinking I’m OK with the current position I am in think No it is not OK,  It is hurting my business, my family and my career.

Tip #3 - Take it Slow – No need to rush back into things to try to catch up on lost time. Take your time build your Empire so that you won’t burn out or become disappointed and end up in the same rut.

Now Get Going!

Are You on the Road to Success? 8 Keys to Let You Know if You’re on the Right Path

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I was recently reading an article while on the train featured in the NY Metro called “Traits of Highly Successful People” where they took a look at the lives of successful individuals and highlighted some traits that have aided in their success.  I go out to events quite often and while interacting with individuals and speaking to them about their many accomplishments and accolades I often find myself noticing certain characteristics and commonalities amongst them all that stand out.

While reading through the article I could relate to Jonathan’s outlook and found that I have had the same experience when speaking with individuals trying to figure out what is the secret to their success.  I know one of the biggest issues I have is being hesitant to reach out to certain individuals for help and it has been expressed to me on many occasions that I should never have too much pride or be afraid to ask for assistance with achieving my goals and it was touched upon in this article as one of the biggest factors that aids in success.

Below are some attributes that drive the success of many of the influential individuals that inspire us daily and help push us to the next level.

  1. Have a Clear Vision – When trying to create an empire you must be certain of what your goal is, what you would like to accomplish and how you are going to accomplish it.
  2. Choose to Be Different – Think outside of the box, even if individuals think that your idea is outlandish and it is unpopular, having a unique idea will lead to great results in contrast to those who are trying to reinvent the wheel
  3. Work Hard and Focus on What You Can Control – Stick to your plan, make sure to have a cohesive schedule that you maintain, be diligent and stay determined.
  4. Be Proactive and Take Initiative – Don’t wait for things to happen or fall into your lap, nothing comes of that. No matter what you need to be actively pursuing your goals ensuring that you stick to your plan and meet your goals.
  5. Defy the Norm – Don’t accept the status quo, refer back to step 2 and channel that energy to be different
  6. Surround Yourself With Supportive and Positive People – I think this should be the #1 rule, you have heard of birds of a feather right, well it definitely applies here, success breeds success, if you surround yourself with go getter’s and optimistic individuals then you will be one as well.
  7. Sell Yourself – Have a strong belief in what you do, I mean if you don’t believe in yourself than no one else will, your business and what you do will lead to you being a brand within itself so you  must be the forefront of your business at all times
  8. Last but not least – Enjoy the Journey! Love what you do and be passionate about it.

Women Facing Glass Ceilings Within Their Own Business

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Those who follow me on Twitter, @AfricaHannibal will remember that I posted an article recently that I came across in the Metro in regards to female business owners and the challenges that they face.

The other day while on my daily pilgrimage to the city I politely picked up the NY Metro and on the front cover there was a headline that stood out to me “Sexism in the World of Start-up Businesses.” Being a female entrepreneur of course this immediately grabbed my attention and had me wanting to learn more about this glass ceiling that is present for female entrepreneurs. So I quickly turned to page 2 and was astounded by what I was reading. Based on data from the Center for Venture Research of the $17.6 billion that angel investors planned to give only 9.4 percent went to entrepreneurs who were women. Now while starting my own business never did I think that I would be facing sexism within a company that I am owner of, but this article definitely opened my eyes to the realities that many female entrepreneurs face.

Is the reasoning behind this, that women are still not seen as someone who can run a business or maintain a viable source of income? Many female entrepreneurs such as Stephanie Hanbury-Brown are still faced with the age old question “What are you going to do when you have a baby?” As if having a baby is some sort of ailment or is going to severely debilitate them and keep them from being able to run a successful business. These atrocious numbers and experiences inspired Stephanie to start Golden Seeds an investment group that funds women-led start-ups and holds monthly investor forums in New York. There are a handful of firms like hers that are making a mark in the venture capitalist world which is predominately male. Stephanie says “We need more women entrepreneurs looking for equity. This is how you fund innovation and you grow companies to become big companies.” I was excited to see a female taking charge, combating the sexism while helping other female entrepreneurs obtaining their goals. I hope to be able to attend one of the NY events in the near future and am inspired by the intensity displayed by Stephanie in order to help future women entrepreneurs.

Follow Golden Seeds on Twitter @GoldenSeeds and visit their website, www.GoldenSeeds.com for more information on upcoming events as well as how to get started funding your business.

THE MODERN DAY MATCHMAKER: Business Edition

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On Thursday June 3, I had the opportunity to attend an event called The Modern Day Matchmaker hosted by the real life Hitch, Paul Carrick Brunson and moderated by Nikki Nokes, author of “Maybe It’s You”

The event consisted of about 6 panelist from different walks of life who were all experts in their on right when it comes to relationship building. Lola Adesioye of  LolaCreative.com, Demetria Lucas, Relationship Editor at Essence and Author of ABelleinBrooklyn.com, Damon Young aka “The Champ” of VerySmartBrothers.com, Anslem Samuel of NakedWithSocksOn.com and Jozen Cummings of UntilIGetMarried.com. As I am listening to each of them speak and give their thoughts on how to maintain relationships whether it be dating tips or how to keep your marriage together, I thought how can I apply this to business.

I believe a relationship whether business or personal are derived from the same basic concepts and are built in the same manner. At first sight there must be a spark a connection of some sorts that catches your attention this is why many say first impression is everything. Based off of the initial encounter is what usually determines whether or not a person plans on continuing to pursue or build said relationship. From my experience, during networking rarely do I ever feel that spark or feeling that many of the individuals are willing to commit to building a partnership and/or relationship. I find that many people are selfish and they come with an agenda to push their business and pitch you the entire time without engaging in a decent conversation. It is similar to the person who talks about themselves on the first date for the first 20 minutes. When speaking to someone you want to be exchanging thoughts and holding a conversation. People want to know a person is genuinely interested in what they have to say, this is when trust is formed and the bond grows stronger within the relationship. So when meeting for the first time you must remember to share ideas no one wants to be talked at they want to be talked to. Sounds like common knowledge but you would be surprised at how many people make this mistake.

The art of actual conversation is like speaking Sanskrit, not sure what that is, that is because it is a dead language. Engaging in dialogue seems to have died like chivalry with the increasing use of social networks. Ironically these networks have caused many to be less social and to hide behind their online persona’s they have created. Demetria made a great point at the event about individuals no longer even providing their true credentials such as a business card but ask you to follow them on twitter, look them up on Facebook or my #petpeeve Google Me. I am not sure when this became the norm but this is a no, no, when networking, if you cannot explain who you are and what you do in a concise manner there is a problem. Now I have no problem with following you on twitter, becoming a friend on Facebook and best believe I am going to Google you anyway to make sure you are who you say you are. Plus I engage in social networking I believe more so than the average person but I am also a firm believer of meeting in person especially when conducting business. You want to ensure that the person is serious about their craft and is a true representation of what they have been portraying especially if your only interaction is online.

Following up has also suffered tremendously in this new age of technology. Many people seem to have forgotten how to remind the person that they are still interested and enjoyed the conversation and interactions that they had. I say treat it like a second date, when interested you want to reach out let the person know, hey I had a good time and would like to exchange ideas some more. The objective of the second meeting is to continue to build a relationship and to ensure this is the right connection for you. You don’t want to waste anyone’s time by prolonging it so make sure to follow up in a timely matter at least a week from meeting the person. That way if either of you are not interested you can move forward to new opportunities without wondering what if.

Just a few dating networking tips to remember when you go out to your next event.

Best,

Africa