Thursday, April 8, 2010

Shark Tank!! 2nd Attempt


Jeff Wolsky went to the sharktank for a swim. He asked the sharks if they would invest $75,000.00 in expanding his existing business - making bobblehead dolls available in a mall kiosk. He did not however inform the sharks that he had an existing online business, selling the bobbleheads already.

The sharks first accused him of being guilty of hiding his online business from them, and few of them opted out for this reason. Information and numbers were asked about this business, and he wouldn't give exact count for what it made - he would only give the answer "Between five and six hundred thousand a year."

After the offer for $125,000.00 for 20% was presented, Jeff almost accepted until the other sharks sent him out of the room to deliberate.

The sharks came up with a plan to give him $100,000.00 and 20% of the business. Jeff declined. After the offer was declined, the last shark offered once more $125,000.00. Jeff countered the offer and asked for $100,000.00 with only 7% of the business. The last shark finally ducked out, and Jeff was sent home.

What I don't understand is why he couldn't use his company's money to expand. He was called greedy and he called the others greedy right back. In reality, he was greedy. He wasn't willing to risk any of his other business for the new one. He refused every offer, and walked out the door empty handed.

His online business is still thriving, but the kiosks never really took hold. This was probably a good thing - considering a lot of money would have been lost from the sharks when it could have gone to a better place.

Wednesday, April 7, 2010

Top 100 Businesses



West Jet:
West Jet lets employees share in the company's success with a profit-sharing plan and helps them save for retirement with matching RSP contributions.

West Jet offers employees a variety of great financial benefits, including reduced airfares for employees, friends and family as well as preferred hotel and car rental rates.

West Jet also encourages employees to advance their careers within the company, with a formal career development program, career mobility workshops, and an annual "career mapping" event that helps employees learn more about WestJet's different departments.

Canada Safeway Ltd:Safeway manages a share purchase plan that all employees are eligible to join
helps pay tuition fees for employees pursuing further studies related to their current position (to $4000/year).

They subsidize the cost of memberships to a nearby fitness facility, and provides onsite shower facilities for employees who ride their bikes to work. They also maintain an onsite nap room for employees who need a break during the day. :)

ATB financial:

ATB financialsubsidizes the full cost of tuition for employees completing courses at outside institutions (with no annual maximum).

They encourage employees to pursue professional accreditation with financial bonuses (to $500) upon successful completion.

They help employees prepare for retirement with retirement planning workshops, and phased-in retirement work options.


University of Alberta Teacher:
UFA operates subsidized onsite daycare facilities for employees with young children, in addition to an offsite daycare subsidy of $2000 per child.

UFA gives employees free memberships to its onsite fitness facility, which includes a climbing wall and running track. They also help employees transition to retirement with phased-in retirement work options, and financial planning assistance.

Vancity:
Vancity lets employees "purchase" extra vacation days in exchange for reduced coverage under their flexible benefits plan.

They support alternative work arrangements, including flexible hours, telecommuting, shortened work weeks and 35-hour work weeks (with full pay).

Vancity bank provides generous tuition subsidies (to $2,400 each year) as well as a variety of in-house training programs to help employees continue their education.

Thursday, April 1, 2010

Dave Thomas


In 1932 in a time when 13 million were unemployed, Dave Thomas was born in Atlanta City. Being born out of wedlock, he was adopted 3 months later by a young couple. At 5 years old his adoptive mother - the only mother he knew, died. It was now up to his father to raise him. His father took him to restaurants for meals every night. They moved to oakridge when Dave was 12 years of age - in the second world war. He was hired on at a local drugstore "Wall Greens" but fired soon afterward. Wanting to prove his value to his father, he applied for a job at a restaurant. In order to be hired on as a part of the staff, he had to lie about his age.

Stating that he was 16 years old - he was hired. He had a dream about starting his own chain of restaurants. At 15 years old he moved to Fort Wayne and lived at the YMCA, getting a job at the Hobby House Restaurant.

During the Korean War, rather than waiting for the the draft, he volunteered for the U.S. Army to have some choice in assignments. Having food production and service experience, Thomas requested the Cook's and Baker's School at Fort Benning, Georgia. He was sent overseas to Germany as a mess sergeant and was responsible for the daily meals of 2000 soldiers. He later attributed his success in fast food to this experience in feeding large groups. Thomas was honorably discharged in 1953, with the rank of Staff Sergeant.

Before and after Thomas' Army enlistment he worked at a restaurant owed by the Clauss family, located in Fort Wayne, Indiana. During that time, Kentucky Fried Chicken founder, Col. Harland Sanders, came to Ft. Wayne to find established restaurants to buy franchises from him. At first, Thomas, who was the head cook of the restaurant, and the Clausses declined Sanders' offer, but the Colonel persisted and the Clauss family franchised their restaurant with KFC and later also owned many other KFC franchises in the midwest. During this time, Thomas worked with Sanders on many projects to make KFC more profitable and to give it brand recognition. Among other things Thomas suggested to Sanders that were implemented; reduce the number of items on the menu, focusing on a signature dish, and introduced the trademark sign featuring a revolving red-striped bucket of chicken. Thomas also suggested Sanders make commercials that he appear in himself. Thomas was sent by the Clauss family in the mid-1960's to help turn around four ailing KFC stores they owned in Columbus, Ohio. By 1968 he had increased sales in the four fried chicken restaurants so much that he sold his share in them back to Sanders for more than $1.5 million. This experience would prove invaluable to Thomas when he began Wendy's about a year later.

Thomas opened his first Wendy's in Columbus, Ohio, in 1969. (This original restaurant would remain operational until March 2, 2007, when it was closed due to lagging sales.)[5] Thomas named the restaurant after his eight-year-old daughter Melinda Lou, whose nickname was Wendy, stemming from the child's inability to say her own name at a young age. According to Bio TV, Dave claims himself that people nicknamed his daughter "Wenda. Not Wendy but Wenda. So one day, I looked at her and said...'I'm going to call it Wendy's Old Fashioned Hamburgers'."[6]

In 1982, Thomas resigned from his day-to-day operations at Wendy’s. However, by 1985, several company business decisions, including an awkward new breakfast menu and loss in brand awareness due to fizzled marketing efforts caused the company’s new president to urge Thomas back into a more active role with Wendy's. Thomas began to visit franchises and espouse his hardworking, so-called “mop-bucket attitude.” In 1989, he took on a significant role as the TV spokesman in a series of commercials for the brand. Thomas was not a natural actor, and initially, his performances were criticized as stiff and ineffective by advertising critics. By 1990, after efforts by Wendy's agency, Backer Spielvolgel Bates, to get humor into the campaign, a decision was made to portray Thomas in a more self-deprecating and folksy manner, which proved much more popular with test audiences.[8] Consumer brand awareness of Wendy's eventually regained levels it had not achieved since octagenarian Clara Peller's wildly popular "Where's The Beef" campaign of 1984. With his natural self-effacing style and his relaxed manner, Thomas quickly became a household name. A company survey during the 1990s, a decade during which Thomas starred in every Wendy’s commercial that aired, found that 90% of Americans knew who Thomas was. After more than 800 commercials,[1] it was clear that Thomas played a major role in Wendy’s status as the country's third most popular burger restaurant.

Thomas, realizing that his success as a high school dropout might convince other teenagers to quit school (something he later admitted was a mistake), became a student at Coconut Creek High School. He earned a GED in 1993. He later earned an honorary membership of Duke University's Sigma Phi Epsilon. Thomas was inducted into the Junior Achievement U.S. Business Hall of Fame in 1999.

Thomas was a Freemason, and a member of the Shriners. He was also an honorary Kentucky colonel, as was former boss Colonel Sanders.

Thomas was posthumously awarded the Presidential Medal of Freedom in 2003.

Thomas died at his home in Fort Lauderdale, Florida, after a decade-long battle with liver cancer. He was buried in Union Cemetery in Columbus, Ohio. At the time of his death, there were more than 6,000 Wendy's restaurants operating in North America.

Wednesday, March 31, 2010

Education and Creativity


Creativity in education should be just as important as education itself, and should be treated with the same respect.

We should approach life and creativity as a child. Kids aren't frightened about being wrong. If you're not prepared to be wrong, you won't come up with anything original.

Education came into line with the need of industrialization. Since we needed higher paying jobs, we needed more education to get these jobs. It's skyrocketed so much that kids go and get degrees, and sit at home playing video games.

If we actually paid attention equally to all sides of education and creativity, we could revolutionize not only the face of education, but the world around us.

Itelligence is:
Diverse - Different for everyone. It's suited to who they are as a person.
Dynamic - There is interaction in the brain happening and creating brand new ideas.
Distinct - We have our own trademark on our work.

We need to evenly mix the creative side of education that the majority of people disregard. If we did this, I can only begin to imagine what kind of doors would open and what kids of possibilities could take place.

Monday, March 29, 2010

A Healthy Organization

After entrepreneurship class today, we were asked to give a statement saying what we thought a healthy organization looked like. After looking through many definitions my friend and I were able to come up with a pretty good definition.

"A healthy organization is an efficient, growing company, offering quality products in a motivated and professional environment."

Thats my definition. :0)

Friday, March 26, 2010

The Hunks and the Foxes.


College Hunks Hauling Junk has been a successful business in the United States. The two young entrepreneur's that stood behind and brought this company, also recently came up with a new business idea: "College Foxes Packing Boxes." They brought this business idea to the show "Shark Tank" to see if they could get some support. However, after the offers were made, they decided that sacrificing different amounts of portions of their two businesses just wasn't worth the support.

The fact is, everyone has junk that either needs to be packed or hauled away. They chose a very normal need to cater to. Their attitude for success, and bright marketting catchphrases throw them far as well.

These businesses can teach me that anything is possible for anyone. It doesn't matter if you're young or old. If you have a clever idea, you should put confidence and drive into what you believe in. They have learned to look like a strong business as well.

Going onto a international show such as "Shark Tank", these guys actually advertized more than they lost in offers. They sparked huge media attention to both company's, but actually, they created more attention for "College Hunks Hauling Junk". I think that even though the "College Foxes Packing Boxes" idea didn't catch on like they wanted, they didn't lose anything with "College Hunks Hauling Junk" in the end. I believe they won. They knew the risk of the businesses catching on, and were looking for a better offer. They knew thier limit and worked within it.

Wednesday, March 17, 2010

Sam's Wal-Mart



Sam Walton is often reffered to as a "bargain billionaire". He sold things cheaper than his competitor retailers - much cheaper. He was born in the dust bowl and grew up in the depression - learning to value the dollar and avoid unnecessary costs. He sold milk for his family after school every day. As he graduated into college with honors at the top of his class he was often referred to as "the hustler" because he had a knack for making money. He always had a classic leadership resume.

After college he began working in retail and studying it closely. He learned a way to capture the attention of customers by energetic service and dedication to the best price. After getting married he opened his own store and tried his hand in the retail business. He understood that a large amount of a very small number increased the number itself. Sam was simple and after many trials and heartaches of opening stores and yet falling deeper into debt, he finally opened a store double the size of his original locations and chose the no-thrills name "Wal-Mart". Sam watched his rivals continuously - was was the "stealth retailer". He was also the shrewd politician. He knew to to react in order to get a reaction.

Sam died on April 5th, 1992 and left behind him a legacy of low prices. He worked hard, believed in himself, outdid his competitors and put himself in the right place at the right time.