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13 Down To Business Where ’ s Your Plan: Clara Villarosa, author of “ D own To Business: The First 10 steps to Entrepreneurship for Women ” 17 What have you done for
8 F.I.T. Money 2010 Social Media Trends
6 Tech Ed
Here ’ s your hot list for 2010
7 My Library
for no to low cost advertising 11 Almost Doesn ’ t Count
your public relations I.Q.
Stan and Serene talk about leadership and how to attain it.
Managing Editor - Shirley Reid
One community takes the recession head on while educating a community
Editor-In-Chief - M. Natasha Reid Art & Photo Director - M. Natasha Reid Photo Editor – M. Natasha Reid
19 Twitter Style Fashion meets social media and the look fabulous.
18 The Power of One
Staff Founder & Editorial Director - M. Natasha Reid
others lately. Using acts of kindness to raise
6 Contributors
Production Director: M. Natasha Reid Production Manager - Shirley Reid Office Manager - Shirley S. Reid Cover Art - Crystal Jings, M. Natasha Reid Contributing writers: J. Serene Blaque, Rochelle Hill, Marcia M. Mayne, Mike Street, B.da Oso Starchild, Fatima Tan ’ ia, Published by: F.I.T. Money Publishing , LLC Offices: Wilmington, DE 19801 ©2009 - F.I.T. Money Publishing - All rights reserved
2009 December
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Being an enterprising individual willing to take a leap of faith and find a different path for yourself can be rewarding, exciting, challenging, enriching and most of all fulfilling. It is the one adventure you can take alone or with others and in the end still be thrilled with your results. Even after all of the positive feelings, there is a hidden truth not always shared or even welcomed when it enters our thoughts, being or space: BEING THE BOSS IS HARD WORK! From the first day you choose to walk the path so many dream of but never see past the first ant hill to tackle the mountain of challenges. You quickly recognize being in the drivers seat has so many different challenges to face and hats to wear; the regular 9 to 5 almost looks appealing. You begin to recognize your daily end result is a direct correlation between your planning and tireless execution. What you do in connection with the decisions you make affects the lives of those working for you, with you and around you. You have moved from second mate to admiral of the fleet in the blink of an eye; and it is scary. Here’s what I can tell you, a year from now there will be readers opening this magazine fo the first time and you have to ask yourself this question: will they be inspired by my words of wisdom on the relentless pursuit of my passion or will they be reading about someone else? I’ll let you decide. Our goal is to be your online resource for business information. Is there something you would like to see, drop me a line at editor@fitmoneymag.com. We believe in you, in your dreams and we’re here to show you the way… Until next time…stay F.I.T.!
m. Natasha Reid 2009 December
Mike Street is a social media
Rochelle Hill, president of Pre-
Fatima Tan ’ ia is the founder
expert based in New York City.
cision Plus Communications
of Perception & Co, an image
He has headed a mixture of
based in New York City, is
consulting and personal
social media projects for various
also co-chair of Harlem Cares
styling company based in
Fortune 500 media companies.
Mentoring Movement; a
New York.
Did you know: Mike has a blog
CARES circle of the National
Did you know: Fatima is a
called the Greasy Guide
Cares Mentoring Movement .
fashion stylist and you can
devoted to all the happenings
Did you know: Rochelle is a
follow her on twitter :
Syracuse alumna?
@PerceptionAndCo
in NYC?
December 2009
Š
F.I.T. Money Magazine
What are you reading? By M. Natasha Reid “ A ny organization can explain what it does; some can explain how they do it; but very few can clearly articulate
why. WHY is not money or profit-- those are always results. WHY does your organization exist? WHY does it do the things it does? ... Those who start with WHY never manipulate, they inspire. ” Do you inspire action? If you have a burning desire to get your business moving like a shooting star, starting with WHY works. If you remember anything, “ The Golden “ E very person who reads The Go-Getter will be inspired to take charge of their work, their career and
Circle ” is an eye opener and will forever change how you view business and life.
their future. It ’ s a powerful story that illustrates what you can accomplish when you commit to being gung-ho… ” Ken Blanchard, coauthor of The One Minute Manager®
and Whale Done!™ I love reading this book. It ’ s a great story with so many jewels. I get something new every time I read it.
No time to read? Don ’ t sweat it! We have ways that can help you get the word in!
These e-readers are two hot ticket items for the holiday season. Amazon ’ s Kindle was introduce in 2007 to an audience that was craving ease with books as they have with music. Surprisingly, it took two years to get close, but enter the Barnes and Noble Nook. At first glance booth readers have a streamline look , but upon further inspection, The Nook does seem more streamline and sleek. As with all first generation devices, I expect some software glitches. If you ’ re a “ t echy ” , it wouldn ’ t really matter.
Width 5.3 in Depth 0.7 in Height 7.5 in Weight 10.4 oz Supported Digital Audio Formats MP3 Price: $259
Width 7.7 in Depth 0.75in Height 4.9in Weight 11.2oz Supported Digital Audio Formats MP3 Price: $259
If you don ’ t have time for to sit and read, put it in your ear. Many books are available for download but most books are in an audio format. Listen while you run, walk or just lay back. It ’ s not just your Daddy ’ s iPhone. iPhone: $199, approximately.
2009 December
Social media has now become mainstream media. While many thought social networking and social media would quickly disappear, an audience for the medium quickly emerged. Power to the consumer, as consumers now present the main online voice for many brands. But now is not the time to fear that you have lost control of your brand. Instead, it’s time to learn from the trends in media and see how they can work for you to save time and money in a hard economy. The following is a list of social media trends to watch out for in 2010. These are trends you need to look at and see how they can apply to your marketing plans, cost savings and customer service. Here are your F.I.T. Money 2010 Social Media Trends: 1. Login Everywhere via Social Many online users do not want to add their name, address and all types of other information when they visit a brand/marketing website. Many see a registration form and will just close their browser window. But social media and your brand now work together in a new way as Facebook and Twitter allow consumers the ability to login to a site with one to two clicks. This is great for any business as you can instantly create a social connection with your potential client right when they land on your site. Online consumers want ease of use at all points. So make it EASY for your consumer to login and get what they need without going through to many hoops. F.I.T. Tip: Get started today! Visit the developers sections of Twitter or Facebook to find out more info on how to add social media login to your site.
We will all be able to do just about anything with our mobile phone. So the time is now to get started. F.I.T. Tip: Creating a mobile site is EASY! Just think of it as a tiny web page for your phone. Check out Mofuse.com for simple and easy tools to get your mobile site up and running. 3. Love Location FourSquare and Twitter have ushered in the age of location. And now more than ever, local businesses have the opportunity to target their consumers locally. You can now be a small mom and pop store but have a large presence online and connect directly with those who live only a few blocks away from you. If you’re a local business you need to see how FourSquare and Twitter can work for you. F.I.T. Tip: Give your customers offers for checking in on FourSquare or tweeting from your store. Create local ambassadors who will spread the word about your store or business to their friend circles.
2. Mobile is a MUST If you’re in business and you have not thought about how you can deliver a mobile experience or application for your clients or consumers then you are missing out on money. Mobile applications and the app economy is a goldmine if you figure out the right mix of social media, social sharing, and usefulness/fun factor for your application. Think about who you and your business are trying to reach. Also, think about creating a mobile tool application that can be of use for your target demographic. In 2010, you will see even more mobile applications and platforms.
December 2009
F.I.T. Money Magazine
2009 December
Each issue we highlight a business in your community to share who they are, information on their service and why they are in it to win it.
B.da Oso StarChild is the Founder and CEO of StarChild Enterprises; a conglomerate of businesses that seeks to bring about the new age urban renaissance. Beginning humbly with StarChild Magazine, a lifestyle publication geared toward healing and bridging the gap between men and women, the movement has taken off and taken over. It includes StarChild Publishing, StarChild Marketing Group, SC Fashions Division, and last but certainly not least, The StarChild Foundation. B.da (real name Brandee Cartwright-Jones) is a mother, a winner and a savvy business-woman who understands the times and has been purposed for such a time as this. She is a minister, a lover of laughter and most importantly dedicated to winning souls to Christ and enlightening the world with TRUTH as her mission. She has finished her first book, Flowers on the Grave and is currently working on a book of short stories to be released in 2011. Visit her on the web at www.starchildmagazine.com. For more information on her other enterprises contact bda@starchildmagazine.com.
December 2009
(continued page8)
4. Connections = Impressions While many online measurements think in terms of “impressions” this as a measure is outdated and doesn’t really work for social media. Companies will now have to think in terms of connections, in addition, they also have to think about how these impressions are beneficial to their business. Start thinking about what it means to have 1000 Facebook friends or 10,000 followers on Twitter. Then think about how you can collect data from those people and how you can engage them with calls to action and ambassador programs. F.I.T. Tip: Community building is going to be very important to your bottom line. Think about this: your consumer community is living online. Therefore you need to develop a strategy to communicate with them in a non-intrusive and organic way. Get Social Follow Me: Join me on Facebook: http://facebook.com/mikestreet Follow me on Twitter: http://www.twitter.com/streetforce1 Join the Harlem NY Community: http://www.facebook.com/harlemny and at http://HarlemSocial.com
F.I.T. Money Magazine
A man discovers himself for the first time
by J. Serene Blaque
Photos courtesy of getfreeimage.com
Almost Doesn’t Count
On an extraordinarily warm and sunny Sunday evening, my phone rings and I vaguely recognize the number. While sitting at my desk, basking in the warmth of the October sun, admiring the fiery reds and golden yellows of fall, I’m at a loss for the ID of this call. I’m in the midst of finding the topic of this article and this call is breaking my concentration. I answer. to retreat to the deep woods of Mississippi for some quiet and relaxation.” I had totally forgotten his family was from Still mesmerized by the parade of colors outside of my Mississippi. “So tell me, why the apologies? Why the great window, the voice on the other end speaks softly but with escape from New York?” What Stan tells me next blows me great intent, the customary greeting “Good afternoon, Ms. away and I begin to see my own struggles for individuality Blaque.” I’m brought back to my reality from the in his story. ”Well, Serene; I realized for many years I have authoritativeness of the voice. “Yes this is Ms. Blaque but seen how great some ideas are and have worked tirelessly at with whom am I speaking?” I’m rarely this proper but the building other people‟s business that I have never taken the occasion called for it. To my delight, and in short order, all reigns of my own vision. And it‟s just that time.” of the pomp and circumstance came to a halt when my unidentified party said “It’s me, Stan!” (Ah, breathe) “What made you come to this very clear conclusion? How Stan Embers, my long lost new found friend of six months, is Harlem’s own self proclaimed one man networking/marketing/public relations guru who has garnered much attention in the entertainment industry as well as several known retail establishments. To put it meekly, Stan is a living, breathing, walking and talking music encyclopedia of the independent and underground music scene in NYC. His wealth of knowledge on the history of the culture we call Hip-Hop is surpassed by only a few, while his passion for the business side is unmatched. There is not a main stream artist, who started off underground, that doesn’t owe a portion of their success and fame to Stan Embers.
has this vision shaped your future plans?” (Writer mode kicks in. This is my story.) Stan elaborates, “Several recent events accelerated this thought but it has long been over due. Every time I run in to someone who knows what I envision for myself they ask „Have you started yet? Where can I get more information on what you‟re doing now?‟ and I hand them a business card that‟s not mine, the look of disappointment is too much to bear. I realized for myself that I have made so many people and small businesses rich but I have never capitalized on the connections I made, for myself. Have you ever heard of „Rock Star Snacks‟?"
I met Stan in early spring of 2009 and we clicked right away. But Stan had been missing in action for the last month of summer and I know this conversation is going to “No I haven‟t? Is that new?” I respond being touched by his be a long one. openness while still in writer mode. “What is going on, Mr. Embers? What’s been up? Where have you been? What are you up to? Is everything ok? How’s your dad? You have a lot of explaining to do.” I blurted. Stan just laughed at my excitement and said calmly “All is well. The family is fine. My dad is as fathers are and I must apologize for the absence but I had
“And you won‟t. It is another product I worked on with someone else. I saw the value in what they developed and tried to show them how it can get to the next level just by putting it in the hands of the right people at the right time. I work with a gentleman who at the time had a great studio 2009 December
band that played for just about everybody in the business. He told me he was thinking about leaving the business to start his own. He had this recipe his grandmother gave him for pies and he could make them smaller like the small snack cakes in sweet potato, lemon or anything. He said people at his church loved them. I asked him to give me a couple of samples and I would pass them around. So said, so done. Every single person I gave it to; from the guy in the mail room to the heads of some of the hottest labels out; all asked the same question „Is this what you‟re doing now?‟ and „How do I get some more?‟ From that point on I was in the snack business. The problem with that is I knew nothing about the industry but I knew if I got a solid endorsement these snacks would take off. For a year I went door to door selling the pies. I even had people placing advance orders for the following week and paying upfront. Things were going well. We had a small commercial oven and space. I would pick up orders every morning and make deliveries all day while taking in new orders. Everything was going so smoothly. Then it happened. I felt we were ready to move to the next level and the owner of the recipe, and everything else, did not. I put myself in the employee seat and never asked for my stake hold in the business. At the end of the day, if the business flopped I had nothing to lose. I was scared to take the risk of being the leader.” Entrepreneurship has many pitfalls, some of which you can‟t avoid because the biggest pitfall is you. The question is, now what do you do? Let‟s start at the beginning: Take an assessment of your skills and determine what yours are. You are holding a mirror up to your true self and making an honest assessment of your ability to inspire and lead others. SCORE the “Counselors of America‟s Small Business Owners” is a national association dedicated to helping small business owners form and grow their businesses. Through the website, www.score.org, you‟ll find valuable resources as well as the “Are you ready to be your own boss” quiz which give you valuable insight on your leadership style and skills. You say you’re ready, what’s your idea? You‟ve done your self assessment and now you have to determine if your idea is a money maker December 2009
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or pocket breaker. Many states and cites offer services, usually low to no cost, to help you figure that out. NYC Business Solutions helps businesses start, operate and expand in New York City. Their services are provided at no cost, regardless of the size or stage of your business; www.nyc.gov for information. Don‟t live in NYC, no problem. The Small Business Administration can send you in the right direction and even provide a similar service in your area. Go to www.sba.gov for more information Put the vision on paper to get the paper. Your business plan is not only mandatory but a necessary part of you getting the funding you need for your venture. Whether you plan on bootstrapping (borrowing from yourself) or seeking investors ( bank loans (good luck), venture capital or angel investments) your business plan is the key to determine how much you need, when you need it and the key steps you need to take to move your business along. If you don‟t know where to start, don‟t worry. There are many services available and even templates you can use as reference for your own business. Check with your local public library and use online search engines for free samples, in your industry, to give you the foundation for your own plan. (continued on page 22)
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By M. Natasha Reid My first introduction to Clara Villarosa was before the Mount Morris Talks series in September 2009. My neighbor told me she was going to be the guest for the series that month and asked if I would like to interview her. I did a little research on my cell phone and immediately said “ YES! ” After an in depth search of this powerhouse in the bibliothèque industry, I was definitely fascinated by her relentless will and determination to create a life she desired by meeting challenges in a creative and festive way. This is only the beginning. Clara built an illustrious corporate career but was thrust into entrepreneurship via pink slip, the corporation ’ s way of saying “ we are through with you ” . And at a time when most people are preparing for retirement on the horizon, Clara begins to a new journey. What she started turned into a enterprise that none could have imagined at the time. I could give you back story but we want to get Down To Business, hence the title of her new book. In brief, Down To Business is a step by step guide, written for women but it is not a girly book. Ladies, if you are looking for hand holding in this process, this is not where you ’ ll find it. One promise by the author is “ s hould you follow the steps and complete the exercises, you will have the bare bones of your business plan completed.” Now, how is that for teaching? Not only is it a friendly read but it does leave you
wanting to know and learn more about the author, which is not a characteristic of most business books. But then again we are not talking to or about your typical business owner. When most people look to give up, Clara has dug deep and found the reserve in herself to find the resources around her to get the answer she needs to find a solution to this puzzle.. I had an opportunity to sit down with her in a one on one setting. We spoke at her home in Harlem. Light, spacious and filled with energy; upon entering Clara ’ s home, if you didn ’ t own a business or want to own one, you would leave filled with enough energy to light the tree at Rockefeller Center. There is so much to tell. So many insights I gathered for you and for myself, I am literally excited to share with you.
FIT: In 2010, we usher into the first decade of the 21st century. What should entrepreneurs do to establish and maintain communication between them and their clientele? CLARA: Ok, that ’ s marketing. The book discusses how you handle the various aspects of marketing. But for me depending on the product or service, if it ’ s a service my expectation is a relationship. So it ’ s relationship marketing. The whole business of doing 2009 December
CLARA:
( con ’ t ) :
business is different because
for five to ten years, do you suggest they take a look
there is a new norm. The old norm was based on
at what they are doing now to formulate a new strat-
something that was not sustainable. As a society,
egy?
we acted as if we had an endless supply of money.
CLARA: Definitely! I have clients now, I have sug-
That money could have come from a job we thought gested they look at where their money is generated was guaranteed. We felt we could use our house
and how they can increase the revenue. Not neces-
because the value would always go up and we can
sarily though their current customers or new custom-
draw money from it and we didn ’ t have to worry
ers but do you have other products you can sell? Do
about debt. The trajectory was going straight up and you have other markets you can go into? Can you it seemed so easy for it to do that and we never
expand and create more value for your services?
worried about if it would end. If we wanted it, we got That is how you can expand your revenue base in it today with no worries about tomorrow. Now , we
addition you have to look at how you can reduce ex-
see there is an end and we found it. This will be the
penses.
new norm, wherever that is for your business.
FIT: That second portion is a little loaded because
Growth expectations are moderate and slow.
most small business owners believe that reducing
FIT: If a new business owner is expecting to ex-
expenses means reducing personnel. Can you get to
plode right out of the gate, you say what?
the bear bones with out adding to the unemployment
CLARA: It ’ s not going to happen. This new norm
line?
permeates through everything. If we are not growing CLARA: That ’ s a good point but everything in your as much and we are not spending as much where is business is not a necessity. Go down the list and it coming from? The consumer has to want to
take stock of what you need. If cutting personnel
spend and want to spend with you consistently and
means you have to do more work, does that help or
regularly. As for yourself, what is it about you, your
hurt your bottom line? Personnel my be your greatest
business, your service that is so unique that people
expense but it is also your greatest earner as well.
can ’ t get it somewhere else and they are willing to Look at your other monthly bills. Take an assessment pay you a premium for it.?
of what your business needs to run smoothly and
FIT: I see. For the person that has been in business efficiently. It ’ s not what you like, it ’ s what you
Learning from the wise: I (r.) sat with Clara Villarosa (l.), author of Down to Business, and literally try to pick her brain for more information. Clara is a wealth of knowledge and a joy to converse with. I was very honored Patricia Eaton, (c.), president emeritus, of Mount Morris Park Community Improvement Association; invited me to interview Ms. Villarosa. It was definitely a treat.
December 2009
F.I.T. Money Magazine
Mount Morris Talks and we all listen: Clara Villarosa (l.), Founder of the Hueman Bookstore in Harlem; shares her experience on life, love and business. Patricia Eaton (r.), President Emeritus of MMPCIA.org hosts the evening
need.
feel will benefit from it.
FIT: Speaking of need, customers are what we all
FIT: Since we briefly touched on it, who needs a web-
need. And you being a bibliophile ( a lover and
site.?
reader of books. The real deal not the Kindle. ) ,
CLARA: Everybody needs a website. The question to
I ’ m sure you know Amazon has a list of customers ask yourself is what type of website do you need? If they know what to do with. How should businesses
you ’ re a consultant, you website can be small and
handle their new and repeat customers? How impor- modest to meet the needs of those referring you and tant is the list?
those who are in need of your service. If your cus-
CLARA: The list is very important but more impor-
tomer has come in and asked you if you have a web-
tantly is building the relationship and asking those
site, even if you don ’ t, you answer should be yes. If
on your list to get you new customers. If you have a
it ’ s not up, simply state it ’ s under construction. Your
website, you should be asking your customers to
on line presence is at work even when you ’ re not.
refer customers to you. By doing so what can you
So, it ’ s important to be visible, inviting and valuable
offer them as a reward? Reward the loyalty with a
to all those that use your site.
discount or product that will benefit them and not
FIT: Wow! I know we have more to talk about. What do
hurt your bottom line. If you are drawing people to
you do for pleasure?
your website, what do they do once they get there?
CLARA: Read the New York Times for information but
What is going to make them hang around? You
it also challenges me and my writing. I read the New
have to draw in the thousands through the ones you Yorker. I am a member of a book study group and we have. Ask you customers what they would like to
explore literary works, not the pop stuff. But remember
see and if you can, give it to them.
I am a bibliophile. I have been reading for years.
FIT: I guess it all falls back to building the relation-
FIT: So do you have a library card?
ship?
CLARA: Oh yeah! I have to have that. I used it in the
CLARA: That ’ s where it all begins. The relation-
beginning as the main source for my business plan
ship is key to every aspect of your business. The
research. And guess what? It didn ’ t cost me a thing.
customer has to see a value in what you do for them FIT: Now that is a recession buster! selves and then they will pass it on to others they 2009 December
December 2009
F.I.T. Money Magazine
Have you given your time or services to charity? Are you donating your product to a youth group in need? Do you assist senior citizens with their taxes? If not, these are some of the ways you can get a story in your local newspaper thereby enhancing your brand image among your target audience. In short, what is your public relations I.Q.?
local newspaper or TV station with information on something that is missing in the community. Explain how you are filling that need by offering free services. You will be surprised how one free service can turn into leads that pay dividends and increase your bottom line. This is what PR looks like in 2010; smart, real, true and relevant. Host a consumer/client competition offering your product or service as part of the prize package. For instance, a free seminar; a discount on a product or service; will get people visiting your web site, calling your phone or emailing you to learn more.
Budgets are tight all around, but moving into 2010, you need to work smarter to navigate through the messaging noise that people are hit with everyday. Working smarter means learning how to be PR savvy and creating human-interest stories that are important to the readers of publications and blogs. In essence, you and your business Create opportunities that make you relevant to your target are getting some exposure. audience, TV viewers, blog and community newspaper readers. Smaller budgets are not a reason to stop your Do you have a great office space you can offer up to a creativity. When it comes to drumming up positive publocal community organization? This allots you an oppor- licity for you or your brand, ask “what have you done for tunity to offer remarks or a product demonstration as the others, lately?� host of the event. Perhaps the recession has forced you to cut the hours of your PR staff or consultant. If so, have the consultant focus on long-term strategies for product launches or partnerships coming up in your next fiscal year. Then you pitch in, roll up your sleeves and call your 2009 December
By M. Natasha Reid & Marcia M. Mayne A press conference was recently held to discuss the economic future of a community that has been know as the home of vibrancy, culture, arts, music, food, community activism and most of all, the unofficial capital of AfricanAmerica, Harlem.
So, what is The Power of One? The Power of One is a bold, innovative economic action plan spear-headed by like-minded independent Harlem business owners who have come together to promote and support each other and their community. Based on the popular rewards card model, The Power of One is a community reward card. In many years, after much neglect and deterioration, Har- When anyone who lives in or visits Harlem uses the card, lem‟s second Renaissance brought the history of this cul- the community receives the benefit of the economic tural epicenter of New York City back to the forefront. An growth of businesses in the area. “A University of infusion of passionate community “pioneers” with enerMichigan study of urban areas shows that spending just getic “newcomers” has made Harlem the destination spot 10% of your income in your community increases money of visitors as well as those looking to relocate. But like all circulation exponentially, in some cases by as much as communities in the United States, Harlem, as well as the $140 million. Imagine what that could mean for Harlem! majority of minority communities, has been hardest hit by More jobs, more businesses and a strong vibrant this recession. The 125th Street corridor, undoubtedly the community,” explains Marva Allen, owner of the Huemain artery of this rich community, has seen more small Man Bookstore and the brainchild behind The Power of business close due to landlords pricing them out in hopes One. of finding larger, more stable, national chains to take up Harlem is the largest African American consumer base in residence. the city of New York. This economic power is greater This turn of events has left many residents who were em- than the gross national product of Canada, yet, in the last ployed by or once patronized the smaller business, without year, 40% of local Harlem businesses have closed. By the service they so readily enjoyed and in need of finding area residents‟ spending money at a chain store, commuother sources outside of the community, hence diluting the nity money leaves the neighborhood. But when it is spent economic power of the community. But it is on the brink with a local business, the money is reinvested in the of devastation, ideas evolve into action and the declaration community--where you work, live, go to school--creating economic strength, building community resilience and of The Power of One was made. December 2009
.
F.I.T. Money Magazine
The Power of One summit: Harlem business owners (Tonni‟s Minis & The Brownstone) share their excitement about The Power of One program and their expectations . independence.
shown support.
How does it work? Unlike most reward programs that offer their cards for free, participants are asked to invest $1 into to the economic resurgence of their community. That $1 buys access to discounts, VIP access, and other perks when you spend, invest and play in Harlem. The goal is to teach one of the foundations of financial literacy, invest in assets, things that put money in your pocket and not liabilities, things that take money out of your pocket. One of the goals of The Power of One is to encourage people to think about where their money is going, and commit to spending a proportion of it locally.
According to Marva Allen, owner of the Hue-Man Bookstore, "It is about how one person acting in concert with like-minded individuals can create positive, powerful and exponential change in one's neighborhood, community and maybe even the world. I can't begin to tell you how many people have volunteered their time and effort to see this program come to light. People want to be part of something positive and progressive."
It is definitely an idea whose time has come. The idea of pooling resources to create and build wealth is a The program is not without challenges. The first strategy that has been successfully used in financially being to reeducate a community, which has been stable communities around the world. The business trained to shop with major retailers, to shop locally. owners involved in The Power of One program see The second is to raise $1,000,000 over the next six their roles not only as value driven but also as months, selling one Power of One card at a time. It is community gatekeepers helping to solve social and considered to be Harlem's own bailout plan. economic problems that improve the quality of life for their customers, their employees and their community. This plan has garnered much attention from prominent Leah Abraham, owner of Settipani Restaurant states Harlem residents such as Actress, Director, Producer “We have all stood here on someone else‟s shoulders Tamara Tunie. Tunie was so impressed she sings the and for that I‟m thankful.” title song composed specifically for The Power of One, by uber-pianist, Georges Francois. Other high Among the businesses that have signed on as profile individuals such as, Lisa Cortes, Executive community pioneers are The Amsterdam News, The Producer of the movie Precious, Black Enterprise World Famous Apollo Theater, The Brownstone, Cafe Host of Our World Ed Gordon; Professor of One, Caranda Fine Foods, City Electric and Philosophy at Princeton, Cornell West; Director, Communications, Charisma Speakers, ExperienceWriter, Producer, Melvin Van Peebles; Director Harlem, Faison Fire House, Harlem Underground, Warrington Hudlin and others have expressed and Harlem Lanes, Harlem Vintage, (continued on page 22) 2009 December
Photos courtesy of Perception & Co
Marc Jacobs, Diane Von Furstenberg, Rachel Roy, Melody Ehsani and Jazmin Whitley are a few of the fashion designers who have openly embraced the social media marketing phenomenon. For years, companies used business to consumer or business to business approaches to promote their services or products. But, time has evolved and many fashion gurus have reinvented their way of thinking to mimic the mindset of shoppers. In the past people who wanted to know the radically changing trends would pick up the latest magazine. Social media has allowed fashion brands to engage with customers using online communities and websites. Traditional approaches and means of communication are continuously being reconstructed allowing an increase for customer interaction. Now there‟s the ability to directly connect with an audience on a real-time basis. In previous years retailers and the press decided what was most prevalent to consumers. Now designers have the luxury and opportunity to launch an entire collection directly to existing buyers potentially engaging a new audience, building brand equity. Fashion designers and boutiques are adapting to the changing needs of the consumer. Many designers are utilizing social media and virtual runways to show their collections. Whether you are a well known designer or a newcomer developing a social media presence is très chic! December 2009
Working with social media networks offers access to a wider range of consumers by making it possible for retailers and designers to generate a buzz about a brand. By starting discussions online, you influence the consumer market; the drive behind fashion. Social networking sites grant access to a broad spectrum of consumers looking for front row access to fresh looks, unedited versions of designers and their work. Take a look at these numbers: MySpace has 126 million users worldwide. (Source: TechCrunch) Facebook has 175 million active users and 95% have used at least one application. (Source: Facebook Press Information) Social network ad spending will reach $2.6b by 2012. (Source: eMarketer) 61% of influencers turn to Word Of Mouth for making shopping and retail purchase decisions (Source: Keller Fay Group) By using social media, it becomes possible for a fashion house or designer to generate new business with minimal cost. Social media networks allow a designer to overcome barriers and obstacles while breaking down boundaries to reach out to different demographics. Many fashion companies have targeted bloggers and other social media users as a means to create a dedicated community of buyers. Word of mouth is a chain reaction of social media sites. Blogging is also incredibly powerful. F.I.T. Money Magazine
Photos courtesy of Perception & Co
Do you know Joe Zee, Creative Director of ELLE Magazine? He tweeted about the infamous "light up" Jimmy Choos. Within seconds the information was re-routed to millions of people who began to RT (re-tweet) about the product. That is what you call social media at its best; instant marketing . Word of mouth and online engagement is very fashionable for apparel brands. When consumers shop online fashion companies are able to communicate within the same space they are purchasing. Twitter has become a very important social media platform for fashion companies and designers. It provides the consumer with an outlet to speak out and affords the designer the tools to listen closely. Facebook, Blogging and MySpace are also social networking media which contribute to the sensation of instant feedback. All the information is at the tips of your fingers by the click of a mouse. Here are some fashion industry social media marketing sites to get you started:
Shopflick.com USTrendy.com StyleCaster.com SenseofFashion.com EstToday.com Stylehop.com
We look to designers to always stay a step ahead of the trend. We look for their cues on what‟s hot and definitely what‟s not. When it comes to social media, take a page from Tony Hsieh, CEO of Zappo.com. Tony is a “Twitter” superstar not because he has the hot shoes. He‟s a superstar because he connects with his base. Follow everyone that is following you. Engage your followers in dialogue. Be open and honest. Most importantly stay connected with who your customers are and what they‟re doing. Social media is your runway. You better work it.
2009 December
(continued from page 12) Almost
Doesn’t Count: The conversation with Stan left me with so many pearls of wisdom that it could easily take up a book. And since I don‟t have that much real estate in this magazine, I have to leave you with this small staple; your life is determined by the actions you take. You can easily slip into obscurity by simply moving along the line of mediocrity, always riding someone else‟s coattails. Or if you dare to be amongst the approximately 46500 business that start every year, you‟ll be in a class of brave souls that dare to dream in color and soar amongst the stars.
(continued from pg 18) The
Happy Holidays! The holiday season has always been a time of reflection for me. I would like to take this time to thank you for reading and giving us an opportunity to share with you. To all F.I.T. Money contributors, thank you for providing all of us with your great content and useful tips.
Power of One: H & M Art Gallery of Harlem, Hue-Man Bookstore, Imagenation, Katrina Parris Flowers, MoBay, Marcia Mayne Publicity, Nectar, On this Rock Jewelry NYC, Settipani Restaurant, Tonnie's Minis, Smalls & Co., independently owned Subway and Two Fifth Lounge.
Enjoy the holiday season. Get revved up and let’s start 2010 with a bang!
The community at large also benefits from the Power of One as the program donates 15% of the money raised to charitable organizations that serve and enrich the Harlem community, such as Opus 118, The Melvin van Peebles Foundation, The Theater of the Oppressed and Cool Culture and has slated another 5% to a fund concerned with the beautification of Harlem.
From our family to yours, Happy Holidays and we’ll see you in the New Year!
Look for more details soon on F.I.T. Money Education and our first mixer in January 2010.
Until next time...stay F.I.T.!
Taking a problem and creating a business enterprise is what entrepreneurs do. The Power of One is a pilot program that can be expanded into depressed communities across the country to support the creation of and sustain the small business. Learn more about The Power of One program at www.the-powerofone.com.
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