The following article relates a newly opened arts center that is a for profit enterprise. Is this a new trend? Share you thoughts. As the article relates:
The name is sure to grab the attention of would-be theatergoers. It’s catchy, it’s ambitious, it emphasizes a sense of place.
And yet, when the Rhode Island Center for Performing Arts at the Historic Park Theatre hosts its first stage production next weekend, the people who enter the state’s newest live entertainment venue will find more than just a theater.
In its new incarnation, the building that once housed the Park Cinema is also home to a café, a nightclub and a 200-seat all-purpose area that can serve as a restaurant for theatergoers, a comedy club and a room for receptions and business functions.
The extras are part of owner Piyush Patel’s plan to make sure the new theater at the corner of Park and Pontiac avenues does what any business sets out to do: make money.
That will not be easy. Even in good times, it’s hard for theaters to make money, industry people say. And with the economy in tatters, it will be that much harder.
There’s also the issue of size. With 1,050 seats, the new theater is relatively small in the world of live entertainment.
Patel, 69, a native of India whose business interests include real estate, hotels and personal care products, says that is why he has cast such as wide net.
“Every business plan has some kind of escape strategy, you know, what happens if it doesn’t work,” he said. “That’s why I came up with the idea, a total entertainment complex.”
This is not to say that Patel won’t be trying to make money from the theater end of the business.
He has hired Jack Nicholson, a New Englander with a long history in managing sporting and entertainment venues, to oversee the theater operation. And Nicholson, like Patel, is casting a wide net.
For patrons who think theater means plays and musicals, the new venue will be working with the Stoneham Theatre, in Stoneham, Mass., which has been producing its own shows since it — like the Park — reopened in a historic former cinema. The Park will help subsidize those productions — this year’s list includes “My Fair Lady,” “Gaslight,” “Always … Patsy Cline,” and “Hockey Mom, Hockey Dad” — and will host perhaps four or five shows a year.
Dates for those performances are still being determined, in part because Nicholson is also working to book live acts. Three will come to the Park during the late-winter/spring, though those dates are not set either: The Moscow Circus, the Rat Pack and the Glenn Miller Orchestra.
The live theater and live entertainment represent the jewels that the new theater plans to offer. Rounding out those offerings will be large-screen, high-definition broadcasts of sporting events — the Super Bowl, the World Series, World Cup soccer — and independent movies. Read more here.
Sunday, December 13, 2009
Build a Stronger America: Join the Entrepreneur' Movement
The Kauffman: The Foundation for Entreprenuership offers this new resource and website:
If you are like 80 percent of Americans, you believe that the U.S. economy has been, and will continue to be, built by entrepreneurs like you. Accordingly, if the U.S. economy is going to have a sustained recovery, it will be up to its entrepreneurs to lead the way.
But entrepreneurs cannot create jobs and growth without a level playing field. Federal and state governments cannot continue to favor large, established businesses at the expense of startups and entrepreneurs. Here are five things that entrepreneurs need now:
If you are like 80 percent of Americans, you believe that the U.S. economy has been, and will continue to be, built by entrepreneurs like you. Accordingly, if the U.S. economy is going to have a sustained recovery, it will be up to its entrepreneurs to lead the way.
But entrepreneurs cannot create jobs and growth without a level playing field. Federal and state governments cannot continue to favor large, established businesses at the expense of startups and entrepreneurs. Here are five things that entrepreneurs need now:
- Health care reform
- Better access to credit
- Cut payroll taxes to create and save jobs
- Tax reform
- "Entrepreneur's Visas" that enable non-U.S. native college and university graduates to create new jobs now
Kauffman believes that entrepreneurs' voices need to be heard in Washington, DC, and will work to educate government officials about the important role entrepreneurs play in our economy.
Join the Entrepreneurs' Movement today.
Monday, December 7, 2009
Social Entrepreneurship Resources
Craigslist Foundation has a helpful resource section on Social Entrepreneurship from their Nonprofit Boot Camp. A couple examples are listed below. The section includes presentations for most programs and some audio recordings too.
Nonprofit vs. For-profit: Which way to go? (NY08)
Moderator: Jeffrey Robinson, Ph.D., Assistant Professor, Management & Global Business, Rutgers Business School
Presenters: Jessamin Waldman, Founder, Hot Bread Kitchen;
N. Taylor Thompson, Co-Founder, PharmaSecure
Tales from the Trenches: Resource Review and Top Five Lessons Learned (NY08)
Moderator: Lara Galinsky, VP of Strategy, Echoing Green
Presenters: Andrew Bucko, Founder/Managing Director, The Reciprocity Foundation;
Nandini Narula, Co-Founder, GreenMango;
Toni Blackman, Musical Ambassador, Performer & Writer, Artist Development, Consultant
The Art and Science of Business Development for the Public Good (NY08)
Presenter: David Jordan, Entrepreneur-In-Residence, Clark University's Innovation and Entrepreneurship Program and President & CEO, Seven Hills Foundation
Nonprofit vs. For-profit: Which way to go? (NY08)
Moderator: Jeffrey Robinson, Ph.D., Assistant Professor, Management & Global Business, Rutgers Business School
Presenters: Jessamin Waldman, Founder, Hot Bread Kitchen;
N. Taylor Thompson, Co-Founder, PharmaSecure
Tales from the Trenches: Resource Review and Top Five Lessons Learned (NY08)
Moderator: Lara Galinsky, VP of Strategy, Echoing Green
Presenters: Andrew Bucko, Founder/Managing Director, The Reciprocity Foundation;
Nandini Narula, Co-Founder, GreenMango;
Toni Blackman, Musical Ambassador, Performer & Writer, Artist Development, Consultant
The Art and Science of Business Development for the Public Good (NY08)
Presenter: David Jordan, Entrepreneur-In-Residence, Clark University's Innovation and Entrepreneurship Program and President & CEO, Seven Hills Foundation
Tuesday, December 1, 2009
Nonprofits rethinking business model
Buffalo's Business First featured an article about how nonprofits are developing new ways of generating unrestricited operating dollars: Entrepreneurial Ventures! As the article relates:
The region’s nonprofit service providers are faced with the toughest of challenges: How to deal with increased demand while facing declining revenues.
Small agencies are dealing with it. So are the largest.
Even the millionaire agencies – those with at least a million dollars in revenues that have made it onto the Business First Million Dollar Nonprofits list – say the situation doesn’t appear to be getting easier. They had collective revenues of $1.92 billion in fiscal 2007, but individually many are struggling and seeking ways to stay solvent. Many are exploring new funding options from foundations and contract opportunities as well as earned income through for-profit social enterprises.
Hauptman-Woodward Medical Research Institute will start one such venture Jan. 1 when it begins a management contract with the Industrial Macromolecular Crystallography Association (IMCA), a consortium of nine of the nation’s largest pharmaceutical companies. The five-year contract calls for Hauptman-Woodward to manage IMCA’s Advanced Photon Source near Chicago, where X-rays used for X-ray crystallography are produced.
In addition to the $1 million management fee over a five-year period, the real value of the venture comes in the form of future possibilities, says Eaton “Ed” Lattman, CEO and executive director at HWI, a $7 million organization.
“We earn some money out of it, but we also get on the radar screens of these nine companies,” he says. “It’s at least equally important that we might get them, for example, to be customers of the high output crystallography lab here at the institute, or we might develop intellectual property with one of these firms.”
The agency is not alone. Nonprofits are increasingly investing in social enterprises despite the economic downturn, according to a survey by Community Wealth Ventures Inc. and the Social Enterprise Alliance of Washington, D.C. More than half of the 848 social sector organizations surveyed already operate a social enterprise, while 60 percent indicated they plan to launch another in the next few years.
Those considering their first enterprise cite a motivation to increase revenues and to extend the mission of their organization.
Mark Foley, president and CEO of Community Services for the Developmentally Disabled, says he’s been focusing on better business practices to avoid cutting programs or making layoffs at the $21 million agency. Now he’s beginning to explore the possibility of social enterprise.
“I don’t know that I’ve come up with anything that’s rocket science here,” he says. “Nonprofits have to be more business-like when funding support from donors and government start shrinking.”
The sale of reproduced rare prints and artwork is the newest venture for the Buffalo & Erie County Public Library, which already earns dollars through Fables Cafe in the central library. Bridget Quinn-Carey, executive director, says the library is exploring a variety of opportunities for new revenues.
“We’re rethinking what we’re doing in our retail store too, thinking how can we better take advantage of this great real estate in there,” she says.
A cafe is also bringing in new revenue at the Buffalo Museum of Science. First opened this summer during the run of the popular Body Worlds exhibit, the museum is continuing the venture along with an increased emphasis on facilities rentals such as weddings and events in the main hall as well as the auditorium.
CEO Mark Mortenson says the nearly $3.3 million organization is looking at expanding those opportunities, as well as overnight programming for families.
“We always want to make sure it’s a unique experience every time an individual comes here,” he says. “We have a three-year approved strategic plan now aimed at identifying funding opportunities to change experiences throughout the museum.”
Habitat for Humanity Buffalo, with overall revenues of $1.5 million, has found better than expected success through its Restore, a retail shop that sells donated goods including building supplies, appliances, furniture and housewares. Over the four years since it opened in North Buffalo, the store has generated $500,000 in income, enough funds to build 12 houses.
David Zablotny, executive director, says the venture is working.
“It’s been much better than anyone has expected,” he says, adding that the agency is looking at whether it would make sense to add a second outlet, as other Habitat chapters have done. “That money we brought in through the Restore last year Is about 12 percent of our revenues, so we’re looking to find ways to increase that number.”
The YWCA of Niagara began a social enterprise last year with the creation of The Catering Crew, a catering company/culinary training program for the women living at its Carolyn’s House shelter in Niagara Falls. In this case, the venture serves a dual purpose: providing women with both training and a paycheck, and with additional revenues funneled back into the program.
Read more here.
The region’s nonprofit service providers are faced with the toughest of challenges: How to deal with increased demand while facing declining revenues.
Small agencies are dealing with it. So are the largest.
Even the millionaire agencies – those with at least a million dollars in revenues that have made it onto the Business First Million Dollar Nonprofits list – say the situation doesn’t appear to be getting easier. They had collective revenues of $1.92 billion in fiscal 2007, but individually many are struggling and seeking ways to stay solvent. Many are exploring new funding options from foundations and contract opportunities as well as earned income through for-profit social enterprises.
Hauptman-Woodward Medical Research Institute will start one such venture Jan. 1 when it begins a management contract with the Industrial Macromolecular Crystallography Association (IMCA), a consortium of nine of the nation’s largest pharmaceutical companies. The five-year contract calls for Hauptman-Woodward to manage IMCA’s Advanced Photon Source near Chicago, where X-rays used for X-ray crystallography are produced.
In addition to the $1 million management fee over a five-year period, the real value of the venture comes in the form of future possibilities, says Eaton “Ed” Lattman, CEO and executive director at HWI, a $7 million organization.
“We earn some money out of it, but we also get on the radar screens of these nine companies,” he says. “It’s at least equally important that we might get them, for example, to be customers of the high output crystallography lab here at the institute, or we might develop intellectual property with one of these firms.”
The agency is not alone. Nonprofits are increasingly investing in social enterprises despite the economic downturn, according to a survey by Community Wealth Ventures Inc. and the Social Enterprise Alliance of Washington, D.C. More than half of the 848 social sector organizations surveyed already operate a social enterprise, while 60 percent indicated they plan to launch another in the next few years.
Those considering their first enterprise cite a motivation to increase revenues and to extend the mission of their organization.
Mark Foley, president and CEO of Community Services for the Developmentally Disabled, says he’s been focusing on better business practices to avoid cutting programs or making layoffs at the $21 million agency. Now he’s beginning to explore the possibility of social enterprise.
“I don’t know that I’ve come up with anything that’s rocket science here,” he says. “Nonprofits have to be more business-like when funding support from donors and government start shrinking.”
The sale of reproduced rare prints and artwork is the newest venture for the Buffalo & Erie County Public Library, which already earns dollars through Fables Cafe in the central library. Bridget Quinn-Carey, executive director, says the library is exploring a variety of opportunities for new revenues.
“We’re rethinking what we’re doing in our retail store too, thinking how can we better take advantage of this great real estate in there,” she says.
A cafe is also bringing in new revenue at the Buffalo Museum of Science. First opened this summer during the run of the popular Body Worlds exhibit, the museum is continuing the venture along with an increased emphasis on facilities rentals such as weddings and events in the main hall as well as the auditorium.
CEO Mark Mortenson says the nearly $3.3 million organization is looking at expanding those opportunities, as well as overnight programming for families.
“We always want to make sure it’s a unique experience every time an individual comes here,” he says. “We have a three-year approved strategic plan now aimed at identifying funding opportunities to change experiences throughout the museum.”
Habitat for Humanity Buffalo, with overall revenues of $1.5 million, has found better than expected success through its Restore, a retail shop that sells donated goods including building supplies, appliances, furniture and housewares. Over the four years since it opened in North Buffalo, the store has generated $500,000 in income, enough funds to build 12 houses.
David Zablotny, executive director, says the venture is working.
“It’s been much better than anyone has expected,” he says, adding that the agency is looking at whether it would make sense to add a second outlet, as other Habitat chapters have done. “That money we brought in through the Restore last year Is about 12 percent of our revenues, so we’re looking to find ways to increase that number.”
The YWCA of Niagara began a social enterprise last year with the creation of The Catering Crew, a catering company/culinary training program for the women living at its Carolyn’s House shelter in Niagara Falls. In this case, the venture serves a dual purpose: providing women with both training and a paycheck, and with additional revenues funneled back into the program.
Read more here.
Friday, November 27, 2009
ESF plans workshop to aid students with business ideas
CNY Business Journal reported that the State University of New York College of Environmental Science and Forestry (ESF) will host a workshop to help high-school students develop ideas for a business competition.
ESF has partnered with the Metropolitan Development Association of Syracuse and Central New York (MDA) to provide help to students interested in the annual Creative Core Emerging Business Competition. The workshop will be held from 2:30 p.m. to 5:30 p.m. Dec. 13 at the Rosamond Gifford Zoo.
Marcie Sonneborn of the Central New York Technology Development Organization will run the event, which will help students expand and develop business ideas for submission to the competition.
The contest features a $5,000 prize for the best student idea. Its grand prize is $200,000 for the region's most innovative and growth-oriented company.
Pre-registration for the student workshop is required, but there is no charge. For more information, visit www.esf.edu/outreach/sage/.
ESF has partnered with the Metropolitan Development Association of Syracuse and Central New York (MDA) to provide help to students interested in the annual Creative Core Emerging Business Competition. The workshop will be held from 2:30 p.m. to 5:30 p.m. Dec. 13 at the Rosamond Gifford Zoo.
Marcie Sonneborn of the Central New York Technology Development Organization will run the event, which will help students expand and develop business ideas for submission to the competition.
The contest features a $5,000 prize for the best student idea. Its grand prize is $200,000 for the region's most innovative and growth-oriented company.
Pre-registration for the student workshop is required, but there is no charge. For more information, visit www.esf.edu/outreach/sage/.
Tuesday, November 17, 2009
Facebook co-founder offers advice for entrepreneurs
The Central NY Business Journal reported on Chris Hughes speech at Onondaga Community College where he let his audience know his definition of entrepreneurship.
"Profit isn't what defines what entrepreneurship is about," the Facebook co-founder said just a few minutes into his speech.
Rather, he said entrepreneurs focus on building organizations that have an impact on the world. Those organizations could be companies. They could be nonprofits or schools or churches.
The desire to spark change is what drives them, he said.
Hughes spoke today during the first lecture in this year's Famous Entrepreneurs Series. The annual lecture series aims to inspire more entrepreneurship in the region. OCC's Storer Auditorium was filled to capacity for the talk and an overflow crowd of students watched a video feed of the event elsewhere on campus.
Hughes founded Facebook in 2004 with Harvard University roommates Mark Zuckerberg and Dustin Moskovitz. In 2007, he left the company and became director of online organizing for President Barack Obama's campaign.
Hughes said he and his roommates never really thought of themselves as entrepreneurs. None of them were even business students.
And, of course, he said they made plenty of mistakes along the way.
"In a lot of ways, we didn't know what we were doing when we got started," he said.
For more on this story, see the Nov. 20 print edition of The Central New York Business Journal.
"Profit isn't what defines what entrepreneurship is about," the Facebook co-founder said just a few minutes into his speech.
Rather, he said entrepreneurs focus on building organizations that have an impact on the world. Those organizations could be companies. They could be nonprofits or schools or churches.
The desire to spark change is what drives them, he said.
Hughes spoke today during the first lecture in this year's Famous Entrepreneurs Series. The annual lecture series aims to inspire more entrepreneurship in the region. OCC's Storer Auditorium was filled to capacity for the talk and an overflow crowd of students watched a video feed of the event elsewhere on campus.
Hughes founded Facebook in 2004 with Harvard University roommates Mark Zuckerberg and Dustin Moskovitz. In 2007, he left the company and became director of online organizing for President Barack Obama's campaign.
Hughes said he and his roommates never really thought of themselves as entrepreneurs. None of them were even business students.
And, of course, he said they made plenty of mistakes along the way.
"In a lot of ways, we didn't know what we were doing when we got started," he said.
For more on this story, see the Nov. 20 print edition of The Central New York Business Journal.
Wednesday, November 4, 2009
Online Entrepreneurial Forums: Ask Questions and Network
Interested in a forum to ask for assistance or float ideas? There are a number of online resources that offer an opportunity to network and connect with other individuals and businesses looking at new ideas and ways to generate money. One example is a newly launched resource I came across.
EntrepreneursBoard is a fresh, budding new online discussion forum dedicated to providing all entrepreneurs with a niche in which they can network and share ideas with other like-minded entrepreneurs.
Have other suggestions? Share them here.
EntrepreneursBoard is a fresh, budding new online discussion forum dedicated to providing all entrepreneurs with a niche in which they can network and share ideas with other like-minded entrepreneurs.
Have other suggestions? Share them here.
Tuesday, November 3, 2009
Aspen Institute Looks at 'Capitalism and the Future' During Two-day Event in NYC
Is capitalism broken? Will a new business ethic emerge in the aftermath of the financial meltdown? And is the financial crisis actually a crisis of failed leadership? The Aspen Institute Business & Society Program will explore these questions with thought leaders from business, government, religion and the nonprofit sector in a two-day program modeled after the successful Aspen Ideas Festival, held each summer in Aspen, Colorado.
The two-day program begins with an evening panel on Tuesday, November 3rd at The New York Public Library, as part of the Live From the NYPL series. CEOs Indra Nooyi of PepsiCo and Eric Schmidt of Google, will join authors Niall Ferguson (The Ascent of Money) and Nassim Nicholas Taleb (The Black Swan) in a discussion moderated by Aspen Institute President Walter Isaacson. The event starts at 7:00 p.m. and will be held in the Celeste Bartos Forum, at the New York Public Library on 42nd Street at Fifth Avenue. Tickets, which are $25.00 ($15.00 for students and members), can be purchased by going to theLibrary's Web site, www.nypl.org/live.
The second day continues at Bloomberg corporate headquarters in New York City, with panels on business innovation, a look at the problem of short-termism in capital markets, the conflict between beliefs and business and a discussion of the relationship between Washington and Wall Street. Bloomberg, which is Aspen's media partner for the two-day event, will provide moderators for the panels and will be broadcasting parts of the program on Bloomberg Television. Tickets are sold out for the second day.
Panelists include:
-- David Blood, Senior Partner and Co-founder, Generation Asset Management
-- Bill George, Professor of Management Practice, Harvard University and former CEO, Medtronic
-- Jeffrey Hollender, Chief Inspired Protagonist, co-founder and Executive Chairperson, Seventh Generation
-- The Very Reverend James Kowalski, Dean, Cathedral Church of St. John the Divine
-- Pamela Passman, Corporate Vice President and Deputy General Counsel, Global Corporate Affairs, Microsoft
-- Richard Trumka, President, AFL-CIO
Peter Weinberg, founding partner of Perella Weinberg Partners, will be interviewed at lunch by Bloomberg Television journalist Erik Schatzker.
The Aspen Institute Business and Society Program develops leaders for a sustainable global society. Through dialogue, business education and research, BSP creates opportunities for executives and educators to explore pathways to sustainability and values-based leadership. For more, visit www.aspeninstitute.org/bsp.
The two-day program begins with an evening panel on Tuesday, November 3rd at The New York Public Library, as part of the Live From the NYPL series. CEOs Indra Nooyi of PepsiCo and Eric Schmidt of Google, will join authors Niall Ferguson (The Ascent of Money) and Nassim Nicholas Taleb (The Black Swan) in a discussion moderated by Aspen Institute President Walter Isaacson. The event starts at 7:00 p.m. and will be held in the Celeste Bartos Forum, at the New York Public Library on 42nd Street at Fifth Avenue. Tickets, which are $25.00 ($15.00 for students and members), can be purchased by going to theLibrary's Web site, www.nypl.org/live.
The second day continues at Bloomberg corporate headquarters in New York City, with panels on business innovation, a look at the problem of short-termism in capital markets, the conflict between beliefs and business and a discussion of the relationship between Washington and Wall Street. Bloomberg, which is Aspen's media partner for the two-day event, will provide moderators for the panels and will be broadcasting parts of the program on Bloomberg Television. Tickets are sold out for the second day.
Panelists include:
-- David Blood, Senior Partner and Co-founder, Generation Asset Management
-- Bill George, Professor of Management Practice, Harvard University and former CEO, Medtronic
-- Jeffrey Hollender, Chief Inspired Protagonist, co-founder and Executive Chairperson, Seventh Generation
-- The Very Reverend James Kowalski, Dean, Cathedral Church of St. John the Divine
-- Pamela Passman, Corporate Vice President and Deputy General Counsel, Global Corporate Affairs, Microsoft
-- Richard Trumka, President, AFL-CIO
Peter Weinberg, founding partner of Perella Weinberg Partners, will be interviewed at lunch by Bloomberg Television journalist Erik Schatzker.
The Aspen Institute Business and Society Program develops leaders for a sustainable global society. Through dialogue, business education and research, BSP creates opportunities for executives and educators to explore pathways to sustainability and values-based leadership. For more, visit www.aspeninstitute.org/bsp.
Sunday, October 25, 2009
NYC sees economic gold in green jobs
Reuters reported that recession-stricken New York City plans to double its current green work force by creating over 13,000 new jobs in the next decade, partly by competing with London to become the new center for carbon trading, a city official said on Wednesday.
London, whose prominence as a financial capital rivals New York City and Tokyo, got an early lock in trading pollution credits by training lawyers, accountants and other experts "before the market even existed," Seth Pinsky, president of the Economic Development Corporation, told Reuters.
New York City's new boot camp in green finance will be run by the State University of New York's Levin Institute. It will be open to laid-off workers or future entrepreneurs, much like an already "booming" incubator for financial start-ups, Pinsky said.
Mayor Michael Bloomberg, who made his first fortune as a Wall Street bond trader before getting into politics, is expected to announce on Thursday this green job branch to his two-year-old PlaNYC program, which set ambitious goals for reducing greenhouse gases, planting 1 million trees and crowning skyscrapers with wind turbines.
The mayor's $7.5 million green jobs plan will call on Columbia University to help offer public school pupils "hands-on" learning in energy efficiency, according to Bloomberg, who is running as an independent candidate for a third term. His plan also will create an Urban Technology Innovation Center to tap academic research. Existing city and state funds and federal stimulus dollars will pay for it. Read more here.
London, whose prominence as a financial capital rivals New York City and Tokyo, got an early lock in trading pollution credits by training lawyers, accountants and other experts "before the market even existed," Seth Pinsky, president of the Economic Development Corporation, told Reuters.
New York City's new boot camp in green finance will be run by the State University of New York's Levin Institute. It will be open to laid-off workers or future entrepreneurs, much like an already "booming" incubator for financial start-ups, Pinsky said.
Mayor Michael Bloomberg, who made his first fortune as a Wall Street bond trader before getting into politics, is expected to announce on Thursday this green job branch to his two-year-old PlaNYC program, which set ambitious goals for reducing greenhouse gases, planting 1 million trees and crowning skyscrapers with wind turbines.
The mayor's $7.5 million green jobs plan will call on Columbia University to help offer public school pupils "hands-on" learning in energy efficiency, according to Bloomberg, who is running as an independent candidate for a third term. His plan also will create an Urban Technology Innovation Center to tap academic research. Existing city and state funds and federal stimulus dollars will pay for it. Read more here.
Tuesday, October 13, 2009
New York Entrepreneur Week Launches the Most Encompassing Entrepreneurial Movement in New York State History
-- Today marks the official launch of New York Entrepreneur Week (www.nyew.org), the first and largest statewide movement unifying the most important entrepreneurial groups with the vastly diverse entrepreneurial community. Taking place from November 16-20, 2009, NYEW will feature 350 all-encompassing events including; keynote speeches from recognized business leaders, expert panels offering relevant mission-critical advice, third party events and the movement's flagship RELENTLESS business plan competition.
Unlike diluted start-up or small business events, NYEW is New York State's premier forum joining together founders, angel investors, venture capital firms and top connectors from around the world and across diverse industries. NYEW brings together groups ranging from enterprising young idea-stage innovators to hundred million dollar revenue generators. The NYEW movement provides the framework and catalyst for conquering New York's economic challenges by aggregating disparate entrepreneurial stakeholders from around the state with remarkable entrepreneurs from around the world.
NEWS FACTS:
-- Featured, confirmed speakers include:
- David S. Rose, Founder of Rose Tech Ventures, Chairman & CEO of Angelsoft
- Marc Ecko, Chairman & CEO of Marc Ecko Enterprises
- Steve Mariotti, Founder of the Network For Teaching Entrepreneurship (NFTE)
- Alexandra Wilkis Wilson, Co-Founder & CMO of Gilt Groupe
- Barry Silbert, Co-Founder & CEO of SecondMarket
- Scott Heiferman, Co-Founder & CEO of Meetup.com
-- NYEW is a 501c(3) non-profit organization founded by 26-year-old serial entrepreneur Gary Whitehill. Inspired by the TED conference and Renaissance Weekend, Whitehill is empowering entrepreneurs from around the world to "Stand Up and Come Together" at the worldwide hub of business, commerce and innovation.
-- NYEW is the largest aggregator of entrepreneurial events in the world during Global Entrepreneurship Week, slated to have over 350 events throughout Manhattan, Brooklyn, Queens, the Bronx, Syracuse, Rochester, and Binghamton.
-- NYEW is the only event in New York State to unite entrepreneurs with real, local, regional and international funding sources. These groups include: angel investors, venture capital firms, banks as well as non-profit and public sector agencies.
Read more here.
Unlike diluted start-up or small business events, NYEW is New York State's premier forum joining together founders, angel investors, venture capital firms and top connectors from around the world and across diverse industries. NYEW brings together groups ranging from enterprising young idea-stage innovators to hundred million dollar revenue generators. The NYEW movement provides the framework and catalyst for conquering New York's economic challenges by aggregating disparate entrepreneurial stakeholders from around the state with remarkable entrepreneurs from around the world.
NEWS FACTS:
-- Featured, confirmed speakers include:
- David S. Rose, Founder of Rose Tech Ventures, Chairman & CEO of Angelsoft
- Marc Ecko, Chairman & CEO of Marc Ecko Enterprises
- Steve Mariotti, Founder of the Network For Teaching Entrepreneurship (NFTE)
- Alexandra Wilkis Wilson, Co-Founder & CMO of Gilt Groupe
- Barry Silbert, Co-Founder & CEO of SecondMarket
- Scott Heiferman, Co-Founder & CEO of Meetup.com
-- NYEW is a 501c(3) non-profit organization founded by 26-year-old serial entrepreneur Gary Whitehill. Inspired by the TED conference and Renaissance Weekend, Whitehill is empowering entrepreneurs from around the world to "Stand Up and Come Together" at the worldwide hub of business, commerce and innovation.
-- NYEW is the largest aggregator of entrepreneurial events in the world during Global Entrepreneurship Week, slated to have over 350 events throughout Manhattan, Brooklyn, Queens, the Bronx, Syracuse, Rochester, and Binghamton.
-- NYEW is the only event in New York State to unite entrepreneurs with real, local, regional and international funding sources. These groups include: angel investors, venture capital firms, banks as well as non-profit and public sector agencies.
Read more here.
Tuesday, October 6, 2009
New Model for Business?
Board Cafe's publication Blue Avocado offered information on a new development for businesses. As the article relates:
For-profit companies continue to seek ways to obtain two benefits that are usually reserved for nonprofits: foundation grants and government tax exemptions. These efforts are led by both well-meaning individuals as well as those that simply want funding without communityaccountability. Regardless, they offer risks and challenges to the nonprofit sector as we know and celebrate it. Rick Cohen tells us of one such effort that appears -- in the absence of opposition -- to be headed for adoption.
The hot topic in foundation circles is the L3C: the low profit limited liability corporation, the latest development in social enterprise. Several states are legalizing L3Cs and accompanying tax and philanthropic benefits, and its backers are pitching them for federal approval.
L3Cs are profit-making corporations, but their owners don't identify profit as their primary purpose. The mission of an L3C is a social benefit, doing socially productive and useful things, and only then earning a profit.
At the national level, the Council on Foundations has been actively promoting L3Cs, on Capitol Hill for the past two years. Already in four states and two tribes, individuals can form L3Cs and attract various types of investors, and, because of their charitable missions, tap into foundation loans and guarantees. At least they will be able to if Congress passes legislation giving blanket approval for such loans, or if the Internal Revenue Service (IRS) issues a ruling authorizing them.
There may be some sound reasons for the creation of hybrid models melding features of nonprofits and for-profits, hopefully helping localities and states attract new sources of capital for critical economic and environmental ventures. But states, Congress, and the nonprofit sector might want to be cautious about this social enterprise innovation. Read more here.
For-profit companies continue to seek ways to obtain two benefits that are usually reserved for nonprofits: foundation grants and government tax exemptions. These efforts are led by both well-meaning individuals as well as those that simply want funding without communityaccountability. Regardless, they offer risks and challenges to the nonprofit sector as we know and celebrate it. Rick Cohen tells us of one such effort that appears -- in the absence of opposition -- to be headed for adoption.
The hot topic in foundation circles is the L3C: the low profit limited liability corporation, the latest development in social enterprise. Several states are legalizing L3Cs and accompanying tax and philanthropic benefits, and its backers are pitching them for federal approval.
L3Cs are profit-making corporations, but their owners don't identify profit as their primary purpose. The mission of an L3C is a social benefit, doing socially productive and useful things, and only then earning a profit.
At the national level, the Council on Foundations has been actively promoting L3Cs, on Capitol Hill for the past two years. Already in four states and two tribes, individuals can form L3Cs and attract various types of investors, and, because of their charitable missions, tap into foundation loans and guarantees. At least they will be able to if Congress passes legislation giving blanket approval for such loans, or if the Internal Revenue Service (IRS) issues a ruling authorizing them.
There may be some sound reasons for the creation of hybrid models melding features of nonprofits and for-profits, hopefully helping localities and states attract new sources of capital for critical economic and environmental ventures. But states, Congress, and the nonprofit sector might want to be cautious about this social enterprise innovation. Read more here.
Wednesday, September 9, 2009
Companies Still Increasing Strategic Spending
In a recent article featured by the Nonprofit Times, companies are expected to spend $1.55 billion on cause partnerships during 2009, a 2.2 percent increase from the $1.52 billion invested in those programs during 2008, according to Chicago-based IEG, LLC. The amount spent in 2007 was $1.44 billion, according to IEG.
Cause-related programs still remain popular among corporate marketers due to their ability to support worthwhile organizations while also driving sales.
In fact, some nonprofits that deal with poverty, hunger and other issues directly impacted by the economy have found increased corporate interest. “Recent research has shown that consumers expect corporations to increase their support of causes in this economy,” said Dan Kowitz, vice president of IEG Sponsorship Consulting.
For example, anti-hunger organization Share Our Strength has posted a roughly 15 percent increase in revenue from cause marketing programs during the past year, signing new deals with AT&T, Inc., Hickory Farms, Inc. and others.
Among other recent deals, juice and apple sauce marketer Mott’s LLP this year partnered with Susan G. Komen for the Cure and Feeding America to launch national cause-marketing programs. The company is leveraging the Komen partnership with the Pink to the Core campaign, which features limited edition packaging. It is working with Feeding America on the Wake Up with Mott’s and Marcia Cross program, around which consumers can make a donation by sending a pre-recorded telephone message about the need to fight hunger from the actress to family and friends.
For each call, Mott’s donates $1 to the nonprofit, with a cap of $134,000 -- the cost of feeding one million people.
Companies also are increasingly leveraging sports and other types of sponsorships to promote their nonprofit partners. For example, Farmers Group, Inc., is using its new tie to the WNBA Los Angeles Sparks to promote its longstanding partnership with the March of Dimes. The insurer is activating the tie with the We Assist You Assist promotion that asks consumers to pledge a donation tied to the number of assists the team makes throughout the season. Farmers Group will match the total raised from fans.
Further demonstrating the popularity of cause sponsorship, causes trail only sports properties and entertainment tours and attractions when it comes to spending by property type, according to IEG. Read more here.
Think about a partnership as a possible way to fund your venture. There is an opportunit for a new partnership that could give the business great exposure and access to new clients, while giving your nonprofit start up dollars for your entrepreneurial venture.
Cause-related programs still remain popular among corporate marketers due to their ability to support worthwhile organizations while also driving sales.
In fact, some nonprofits that deal with poverty, hunger and other issues directly impacted by the economy have found increased corporate interest. “Recent research has shown that consumers expect corporations to increase their support of causes in this economy,” said Dan Kowitz, vice president of IEG Sponsorship Consulting.
For example, anti-hunger organization Share Our Strength has posted a roughly 15 percent increase in revenue from cause marketing programs during the past year, signing new deals with AT&T, Inc., Hickory Farms, Inc. and others.
Among other recent deals, juice and apple sauce marketer Mott’s LLP this year partnered with Susan G. Komen for the Cure and Feeding America to launch national cause-marketing programs. The company is leveraging the Komen partnership with the Pink to the Core campaign, which features limited edition packaging. It is working with Feeding America on the Wake Up with Mott’s and Marcia Cross program, around which consumers can make a donation by sending a pre-recorded telephone message about the need to fight hunger from the actress to family and friends.
For each call, Mott’s donates $1 to the nonprofit, with a cap of $134,000 -- the cost of feeding one million people.
Companies also are increasingly leveraging sports and other types of sponsorships to promote their nonprofit partners. For example, Farmers Group, Inc., is using its new tie to the WNBA Los Angeles Sparks to promote its longstanding partnership with the March of Dimes. The insurer is activating the tie with the We Assist You Assist promotion that asks consumers to pledge a donation tied to the number of assists the team makes throughout the season. Farmers Group will match the total raised from fans.
Further demonstrating the popularity of cause sponsorship, causes trail only sports properties and entertainment tours and attractions when it comes to spending by property type, according to IEG. Read more here.
Think about a partnership as a possible way to fund your venture. There is an opportunit for a new partnership that could give the business great exposure and access to new clients, while giving your nonprofit start up dollars for your entrepreneurial venture.
Wednesday, August 26, 2009
Small Business Administration Offers YouTube Channel
The Central NY Business Journal reported that the U.S. Small Business Administration (SBA) today announced the launch of its channel on YouTube, the popular video-sharing Web site."
With millions of visitors, most of them under 35, YouTube offers a prime opportunity to use current technology and the appeal of a popular online platform to further promote the agency's programs and services," SBA Administrator Karen Mills said in a news release.
The SBA hopes to reach this audience with its message of entrepreneurship, the importance of small business to the nation's economy, and information on the agency's programs and services.The SBA YouTube channel (www.youtube.com/sba) debuted with a 60-second introduction to the agency, its programs and services, and a 10-part "Delivering Success" series co-produced with the U.S. Postal Service.
Future content will cover how small businesses can take advantage of the loan programs in the economic-stimulus package, government-contracting opportunities, exporting to increase market share, and counseling and training on how to start and grow a small business, according to the agency.
With millions of visitors, most of them under 35, YouTube offers a prime opportunity to use current technology and the appeal of a popular online platform to further promote the agency's programs and services," SBA Administrator Karen Mills said in a news release.
The SBA hopes to reach this audience with its message of entrepreneurship, the importance of small business to the nation's economy, and information on the agency's programs and services.The SBA YouTube channel (www.youtube.com/sba) debuted with a 60-second introduction to the agency, its programs and services, and a 10-part "Delivering Success" series co-produced with the U.S. Postal Service.
Future content will cover how small businesses can take advantage of the loan programs in the economic-stimulus package, government-contracting opportunities, exporting to increase market share, and counseling and training on how to start and grow a small business, according to the agency.
Thursday, August 13, 2009
Nonprofit Ventures: Show Me the Money
We can talk about entrepreneurial ventures. We can brainstorm. We can even plan and raise money for our ideas. But, how about making it work? How about an example of a success? We would like to share the story of a simple idea to show you it is possible.
Bernadette Cannon, a supporter and advocate for Catskill Area Hospice and Palliative Care, attended the very first New York Council of Nonprofits Entrepreneurial Ventures training offered in 2004. She came to the training with a simple idea: start a thrift shop. For the next couple of years, she worked tirelessly to make her idea a reality. Listen to her share her insight about her for profit venture. Most importantly, hear about her success.
Visit our YouTube channel and watch Bernadette share the rest of her story and her feedback.
Have your own story to share? Post it here, or contact us. Interested in contacting Bernadette? You can e-mail her at thrift.shop@cahpc.org.
Bernadette Cannon, a supporter and advocate for Catskill Area Hospice and Palliative Care, attended the very first New York Council of Nonprofits Entrepreneurial Ventures training offered in 2004. She came to the training with a simple idea: start a thrift shop. For the next couple of years, she worked tirelessly to make her idea a reality. Listen to her share her insight about her for profit venture. Most importantly, hear about her success.
Visit our YouTube channel and watch Bernadette share the rest of her story and her feedback.
Have your own story to share? Post it here, or contact us. Interested in contacting Bernadette? You can e-mail her at thrift.shop@cahpc.org.
Monday, July 20, 2009
Lessons Learned
What are the lessons you learned at Entrepreneurial Ventures for the Arts? Any light bulb moment? Anything you found extremely helpful? How about things to remember for others starting down this path? Share you ideas or even your questions. You can also e-mail them to us to post.
Funding Environment
What are funders looking for? That is the question on everyone's mind. During a couple recent conversations I've had with cultural organizations, I am starting to hear a different approach. There is a sense and realization that organizations have to change they way they do business. Waiting for the economy to turn around isn't of consideration any more, nor are funders available to fill the funding gaps and deficits. Instead, these nonprofits are looking at a funding mix (like any other nonprofit), but more importantly, focusing on how much money they generate through services, fees, and other activities. They are looking at what they do well, and how they can capitalize and make money. Are you having this conversation? What offers your organization the best chance of generating unrestricted dollars? This is where you need to be looking as we look to the future, especially as you consider starting your own entrepreneurial venture. Remember, share your ideas or questions here.
Thursday, July 9, 2009
Power of Networking
There is a challenge to changing the way we do business, and even more in thinking of different ways to generate revenue for our organizations. But our peers offer an opportunity for us to start this difficult process. At the recent Entrepreneurial Ventures for the Arts trainings in Albany and NYC, participants found their peers invaluable resources for discussing ideas and even how to confront potential hurdles. As you consider your own venture, use your peer network. Our peers can be essential in helping make a venture successful. They can help us think through details we would miss. They can be our focus group. As we look at the time and effort involved in putting these ideas in place, this feedback is important and can help you make the most of your limited resources and time.
Wednesday, July 1, 2009
What are your ideas?
Following up on the recent program in NYC, there were a number of ideas shared. Here a couple from our discussion:
- Art supply store
- DVD production and sales of programs and materials
- Digital photography products
- Consulting work
- Rental space
- Specialized tours
What are your ideas? Share your revenue generating idea here, and tell people what your challenges are. The more we share, the more connections and opportunities we can discover.
Tuesday, June 30, 2009
A Beginning
Faced with numerous challenges, arts organizations need to be creative in developing new ways of funding their missions and programs. In response, the New York Council of Nonprofits with the support of the New York State Council on the Arts offered the first of two Entrepreneurial Ventures for the Arts trainings in NYC.
The conversation was great, the food was good, and participants not only shared their venture ideas, but they discovered shared opportunities just through their interaction and networking. There was plenty of information related, and participants explored the world of entrepreneurial ventures, discussing topics ranging from tax implications to the funding environment.
As the discussion of ideas continues, NYCON has launched this simple blog to help facilitate the development of these ventures. We invite you to post your ideas and questions here.
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