G raduate T oday
Social Choosing The Media Right Business Promoting your business
Kareem McMichael Savannah State Alumni
Brainstorming: Choosing The Right Business
Starting a business Things Entrepreneurs should know
See Whatâ€™s Inside 5 How to build a successful business
8 Promoting businesses through social media
10 Brainstorming: Choosing the right business 13 Addicted to Money Kareem McMichael, is an Savannah State University Alumni and owner of Karmac Productions and Graduate Todayâ€™s graduate of the month 14 Think Globally, Act Locally 16 Student entrepreneurship
17 Beauty Supply Conference
19 Debt Deal impacts college students
18 African-American home business expert
Graduate Today Staff Executive Editor, Graphic Designer and Photographer Whitney Hunter
Contributions by Janay Kingsberry, Troy Fosterr, Beauty Supply Institute, and Kareem McMichael 3
How to Build a Successful Business By Whitney Hunter For instance, if an individual wants to open a pizza restaurant chances are it will fail because many businesses like that already exist. Examine what are the major trends and how this will affect the success of the business. Use search engines like Google, ZoomProspector and Yelp. com. ZoomProspector provides helpful commentary on current economic trends and Yelp.com shows the competition in various markets. Next consider how to get seed money for the business. Small business loans are one resource, but because of the economy, those may be hard to come by. Whitney Hunter/Graduate Today
The best way to obtain funding is to attract
any college students faced with
questionnaires where you ask the intended
investors who believe in the product; it
a declining job market find
audience how they feel about a product.
is never a good idea to spend personal
entrepreneurship appealing, but few know
Some questions may be how much money
the process to create a successful business.
someone is willing to pay for a product or
Develop a coherent and realistic budget
Start with a blueprint that features the
does he or she feel this product is sorely
plan that shows the start up costs of
goal of the business, the target audience,
needed in the market place. Try to limit
the business without financial strain.
and funding. Good questions to ask while
the sample size to 25 people. Remember
Planning is everything, so do not
preparing a blueprint are: What niche is
â€œthe customer is always rightâ€? is the first
be too eager to grasp the pot of gold
the business trying to fulfill in the market
rule of business and knowing customers
before getting things in financial order.
place? What makes my product important?
will increase revenue.
Lastly, choose a business structure that
What will this product achieve? Next, think about the target audience
Secondary research can also be useful. This research consists of books, journals,
is beneficial such as a partnership or corporation.
and whether this product will appeal
magazines, newspapers, and other useful
Following these steps will ensure a
to a younger demographic of 18-26
secondary information. Remember when
succesful business, however research is
or an older demographic of 40-60.
using online sources to evaluate them
key to determining whether a business will
Knowing what audience to penetrate is
closely because not all information on
stand the test of time.
crucial because many businesses fail
the Internet is good information; a person
due to communication issues.
should look for scholarly sources not
Conduct primary and secondary research.
information found on a blog.
Check us out online !!!!!!
Primary research consists of surveys and
Now it is time to evaluate the market.
Reflection of the Rex By Kareem McMichael
tarting back in February of 2007 at WJCL up until now at WTOC, a good four and a half years later I am leaving behind working for my first love. Every since I was 5 years old sitting at home watching 13WMAZ news in Macon, GA with my family being a news anchor was something I knew I wanted to be. I knew I wanted to grow up and do something in television and film. However due to different factors not everyone is well paid and mostly everyone for some reason or another is not fully happy. But perfect is the image and the look that must sale off to the viewers regardless of how one may feel about certain things and when the cameras go off, while they are on the viewers must be informed. But I’ll get into details about working the business later. Maybe write a film about it. This message is not for that. When I was in school I was able for the most part to maintain very well. Nice pay and had hours that didn’t conflict with my class and extra activities. Yep going into work at 4am work just fine for me... NOT!!! Well it was most times when I got up on time ha ha ha. You don’t think about working those hours when you are 5 years old. But I was satisfied. I was gaining experience and working in the business I wanted to work in since I was a child. I can not honestly say I was not loving every minute of it but I did love it. I do not regret how any of it happened. It was a rough start getting use to working early hours and with different people. Some people cared and some didn’t. Technology
Photos taken by Whitney Hunter for Graduate Today changed from old to new and people real and great. Everyone should want to would come and people would go, whether continue to grow and prosper in their career they left on their own or was let go. The and life. A great new position to switch reality set in of how highly competitive gears and learn something new and with and cut throat the business is and can a salary that most people would leave any be. Also after graduating reality started to job for. But then it’s more than just a great set in with paying bills that with the hours I salary it is the chance to grow and learn was cut down to, it was not enough for me something that is familiar but much of the to maintain. info will be new. The oppurtunity is also a So like many of us do in this business chance to help build and watch something when things get rough in one place we grow at the University that gave a lot to seek other opportunities else where that me. would be better for us to grow but make I am happy with my decision and many more money. It seems almost everyone people are happy for me and would say is driven by the all might dollar. I was crazy if I turned it down. But now But I was save that for another time as on this day as I leave something behind well. After 2 interviews that went well that I have wanted since I was 5 years of but wasn’t moved to take the jobs I got age and have done for the past four and the chance to interview with the #1 station a half years of my life I can not help but in the city. Great! So I go in and have a feeling a void. Like something or apart of chat with them and feel good enough to me will be missing at the moment. I’ve accept there offer. Though taking a pay been accustomed to this different world cut, I gained much more hours, which still with many different people and working helped. crazy hours and access to so much Like with the previous station there is information. Now I have to adjust to a always the hot gossip, people coming and normal 8 to 5 schedule. Though my new going, technology changing, and job is not totally out of my field but it is a just trying to keep a float in a rocky change up from what I have been doing. I industry. So then even after gaining more still find myself in a rare situation where I hours and more experience while working am fully unaware of what I am going to do at the #1 station that just still seemed to and how to adjust to this. not be enough. I was maintaining but still could do better. I was happy a loving the point I was coming to and was trying to make hopefully move up in positions which is hard to do when no one is leaving their post. A person eventually has to grow and learn new things. No one wants to get stuck. For me a chance came along that seemed to good to be true but it was
Visit karmacrex. blogspot.com and www.karmac.com
Promoting Businesses Through Social Media By Whitney Hunter
Photos taken by Whitney Hunter For Graduate Today
ocial networking can be a very useful tool in today’s market place where it’s about who and what a person knows. Many big-name businesses use social networking sites like Facebook, Twitter and Linked In to promote their business. Savannahnow.com, the online version of the Savannah Morning News, frequently post links to articles on Facebook and Twitter. Readers can click on the links and comment, “like,” or “recommend”articles to friends. The theory is the more people who press “like” or “recommend” the more people will see the article and this will increase traffic for the website.This is a smart idea in an era where the newspaper is dying and most are becoming “digital first.” The digital first concept should be applied to any business looking to phase out the competition. For example, if a person runs an apparel business, it is a good idea to use social media to promote the sales and upcoming products of that store. Customers who are Facebook savvy, which is the majority of the population, will be able to get a first glance at sales and clearance items before walking in the store. This is the goal of the “digital first’ concept: to hook the customer and plant the seed of impulsive buying. No one wants a “cherry picker” customer. A “cherry picker” is a customer that comes in a store and buys one item. The best way to avoid this is to upsell; this means offering more than one product at the point of sale. Credible businesses such as Walmart and Sears utilize Facebook to promote different aspects of their business. Sears shares upcoming sales, information on Energy Star products, and managers from various stores interact with customers to provide a better shopping experience. Walmart has a feedback button where customers can type questions and have them answered by
managers. Customers can also complain about poor customer service. Bottom line: Being able to interact with customers long after the transaction can be a helpful tool. It assures the customer that their needs are being carefully considered and provides the business owner with valuable feedback. Twitter is also a social networking giant. Many businesses find sending messages of 140 characters or less effective. This may be because the attention span of today’s consumer is short and research shows people do not like a lot of information at one time. Hit Squad Entertainment, a party hosting organization, uses Twitter to promote parties, events, celebrity hosts and the recent Hit Squad Entertainment blog. The structure is similar to Savannah Morning News where links to new posts are placed on Twitter for followers to read. This again follows the “digital first” concept. Linked In is different from Twitter and Facebook. Linked In is like going to an online networking conference. There is a basic profile everyone has to fill out which includes a description of present and past positions. There are also job postings and “connections” that can be made. Connections are just that: how many people a person is connected to on Linked In. These cool features allow individuals to connect with professionals and vice versa.The amount of regional access a connection has can also be determined. Social networking whether via Facebook, Twitter, or Linked In is an essential tool for small businesses and is an alternative to costly advertising so think “digital first.”
Check us out online for more useful social 8 networking sites 8
Join us for an uplifting experience!!!!!!!!
Brainstorming: Choosing the Right Business By Whitney Hunter
hoosing a business that will stand out from the comptetition can be tedious. Here are some business ideas that are sure to succeed. These days businesses try to minimize costs anyway they can. This is where a discount supply business can come in handy. Discount supply businesses are a rapidly growing market and buying items wholesale and selling them for a cheaper price can be very lucrative. In a student’s case this means tapping into the school supply market. Everyone has been the victim of long lines at the bookstore and high textbook prices. Students benefit by buying textbooks from classmates because it eliminates the need to browse and compare deals, which can be time consuming. A social media marketing business is also a great way students can get their foot in the door. For students, this can be as simple as volunteering to promote a school organization on Twitter or Facebook. Another cost effective marketing tool is an e-newsletter. E-newsletters are cost effective for organizations because they enable them to reach a large demographic without the cost of printing paper and ink. Students can charge anywhere from $20-30 per e-newsletter and have a very lucrative side business. Blogs are the newest craze and can be hugely successful. Virtually anyone can
start a blog, but the trick is to find a niche or topic that will draw interest. Choosing a hobby or passion is usually a good idea, because that person is knowledgeable about the subject and the content will be easier to write. Janay Kingsberry, online content producer for the Savannah Morning News, has a blog called naytrekvoyager. com. The blog discusses everything from her travels to Chicago and New York, enrollment in free classes at Stanford University, music and book reviews. Dominic Ross, a University of Georgia graduate student, bought domain space to create Dominicross.net. His blog explores music, movies, technology, and his life. These two bloggers tapped into an essential rule of business: following a specific passion. If a person starts a
business just for the money, it is not going to be successful. It is the passion that drives success. However, one cannot just make money by blogging about ideas, advertising is a must. Students can ask local businesses for advertising or utilize Google AdWords. Google AdWords is a program that allows individuals to place Google advertising on their website. The more users click on Google’s advertising, the more a person is paid. This means the amount of “hits” a website receives is important. Remember any business whether it is a purely online function like a blog or a barbershop on the corner, has to be the passion of the business owner.
â€œI am where I am because I do what is neccessary to get the job doneâ€? -Azir Shakaur
Addicted to Money By Whitney Hunter
ounder and CEO of Addicted to Money Azir Shakaur’s
Trina, Charlie Boy Gang, Wacka Flocka, Lil Rue, Dj Khaled,
hustler mentality may seem unearthly, but his work ethic
Rich Kids, and Juvenile. Despite the changes in the economy, Shakaur assists his
can be traced back to his days as a youngster in the Bronx, New
company is thriving.
York project of St. Mays’. 33-year-old Shakaur’s introduction to the business world came
“People always need entertainment in this volatile
early at 11-years-old when he started a paper route every Sunday
economy; they want to get away from their problems,
in his neighborhood. Shakaur not only profited from the sales of
Every business experiences losses, but we are doing well,” Shakaur said. So what inspires him after all these years?
“Every entrepreneur fails 38 times, always keep yourself informed about the market you are trying to attack.”
his delivery route, but in a business savvy move, he charged customers and additional $1.50 to deliver items such as coffee and tea. Soon the paper route was so successful he sold his contact list to his best
“I met Jay-z and asked what keeps him going and he said ‘poverty sucks’ and that quote stuck with me, I look myself in the mirror every morning and say “poverty sucks,” Shakaur said. Some influences of the married father of two are
Warren Buffet, Donald Trump,
“Next, I worked in a
P. Diddy, and the book “Think
barbershop called Six Corners as a shoe-shine kid, where I was introduced to narcotics,” Shakaur said. Local pimps, drug
and Grow Rich” by Napoleon Hill. Poverty is unattractive to
dealers, and hustlers saw the youth’s consistent work ethic
Shakaur but he takes his drive and determination from another
and soon he became a carrier for their product.. Eventually
source: his faith.
his behavior landed him in jail and once released he did a
“I believe God wants all people to succeed and your trials and
variety of odd jobs ranging from a dishwasher at a truck stop
tribulations are already written in God’s book,” Shakaur said.
to district manager of a pizza franchise. However, it was not
“He is not going to put more on you than you can handle.”
until he saw how much money his cousin, a local disk jockey,
He does not encourage young people to engage in narcotic
made hosting a party that the idea for Addicted to Money was
trafficking to achieve riches, but says the key to success does
born. “I got out of jail at 21, from 21 to 23 I was in the streets,”
not lie in the resources one uses to get there, but lies in the
Shakaur said. “Addicted to Money started off from the money I
mind. “If you can conceive it then you can achieve it,” Shakaur
put away from the streets.”
said. “Every entrepreneur fails 38 times, always keep yourself
Shakaur borrowed from his
cousin’s business platform and turned Addicted to Money into a party hosting business. The company has hosted events in New York, Connecticut, Florida, Colorado, Georgia, South Carolina and North Carolina.
They have also featured Hip-Hop acts
informed about the market you are trying to attack.”
Follow Addicted to Monney on Twitter @ATMENTLLC 13
Think Globally, Act Locally
By Whitney Hunter
he education system in America has been in shambles for years, particularly in low-income AfricanAmerican communities where resources are poor and teachers are limited. In some communities bad teachers are passed around like priests who molest children, going from parish to parish or school district to school district. Why? It is the result of an overburdened school system that chooses to promote bad teachers than fix the unfair distribution of resources. However, the school system does not bare all the blame. The people have to be the ones to demand a better education system so that students may compete with other students on a global level. This means completing the census every 10 years so that the government can provide resources that match the need. Many times citizens do not take this paperwork seriously and blow it off as another nuisance. For example, a district may have a population of 100,000, but if people do not fill out the census, that district with not receive half of the funds needed to build schools, roads, and provide afterschool programs that give at-risk youth a positive platform to express themselves. Another aspect of the education crisis: not voting the right people in office to get the job done. As the saying goes, “you can lead a horse to the water, but you can not make it drink.” This is true with local politicians: citizens can lead them to office through votes, but it is hard to make sure their policies are beneficial to the community. More transparency is needed. Citizens have to get off the couch and go
to the public forums and ask questions: Who has the money? Where is the money going? How will this money benefit the community? Self responsibility is a must. The lack of cooperation with the census and a poor checks and balances system when it comes to local politicians, is part of the problem. The phrase “think globally and act locally,” is not in the American education system’s vocabulary or reference book. The curriculums in the elementary, middle, and high schools are not teaching kids to think globally. How can American students expect to compete with kids in China who go to school year-round and study from 7 a.m. to 5 p.m.? This will not work and the system needs to be revamped. In a report published by the Annie E. Casey Foundation, it was found that one out of three fourth grade students scored below average on a basic National Assessment of Education Progress reading test. Clearly the old way of making students
memorize information instead of learning it, is not working. This study also puts a spotlight on how education starts at home. Teachers are a vehicle in which information is absorbed like a sponge by students, but it is the parent’s job to make sure the information is absorbed properly. This means going to the parent-teacher conferences and staying up late to help with those complicated math problems. Instead of teaching students about a crisis in the world, teach them how one country’s problems affects society and that the world is interdependent. Do not solely put the blame on teachers when parents sometimes do not do their jobs. Next year’s election slogan is “education reform.” America has already left its young people a mountain of debt; America should not leave them a poor education system with no light at the end of the tunnel.
How Students Can Get Free Money for Business Ventures By Whitney Hunter
The University of Wisconsin is doing something similar. They started an undergraduate entrepreneurship major back in Fall 2006. They do not offer a entrepreneurship certificate, but they do provide an encouraging atmosphere for business professionals to interact with students. In other parts of the country students get a chance to pitch ideas to local entrepreneurs. Washington University created the program IdealBounce. IdealBounce allows students to pitch a business idea in front of a live audience. A judging panel rates the business pitches and five winners are selected.
Whatâ€™s the prize?
A $100 gift certificate and dinner with local entrepreneurs. Whitney Hunter/Graduate Today
The student entrepreneurship craze is so much on the rise that Grand Canyon University, a for profit institution, has
tudent entrepreneurship was not on the radar of
opened an entrepreneurship college. The college is funded
American colleges, but in recent years they have given
via a $30 million venture-capital fund given to the university
buckets of cash to student businesses. Arizona State University grants $100,000 to students every
by a local entrepreneur. The $30 million fund will allow each student to receive
year based on a well-rounded business proposal. However, the
$100,000, but only 10 percent of business proposals
funds are limited and only 15-20 submissions out of 100 are
submitted for review will receive the money.
accepted. ASU is not the only university willing to go out on a limb to support a studentâ€™s dream; many universities are answering this
Starting a business, especially for a student, can be difficult and it may require hours of research. However, the money is out there.
call. The University of North Carolina at Chapel Hill is not handing out checks, but they are fulfilling a much needed gap in the education system: entrepreneurship classes. The classes are open to graduate students in any academic field and students receive a three course certificate. The program offers a enterprise track and a literacy track. The enterprise track is for individuals who are sure they want to start a business after college and the literacy track is for students who might not be opening a business after college, but want to build business and communication skills.
Editorâ€™s Note: Research other schools for more information. Check us out online. 16
Beauty Supply Institute Hosts Conference for aspiring entrepreneurs
The conference will be hosted in Las Vegas for aspiring enterepreneurs
eauty Supply Institute brings
crease their chances of opening stores...
offer financing of our larger services,
our un-coached testimonies speak for
opening a store is now more reachable
their 3rd Annual Beauty Sup-
The summer conference has been held
This added conference will take place
ply Entrepreneurship Conference to
in Atlanta, Georgia on the weekend of
at Circus Circus Hotel and Casino in
Las Vegas, Nevada. The conference
the Bronner Brothers Hair Show for the
Las Vegas, Nevada on February 18,
consists of six specific classes to be
past two years, and has attracted attend-
2012. Conference and room pack-
administered during the one-day con-
ees from all across the United States.
ages are available at a special confer-
ference. Conference attendees will be
Robinson founded Beauty Supply
ence discounted rate. Seats are limited.
given take-home materials that cover
Institute after he opened three stores
Registration is open now for $299 and
store layout, obtaining funding, select-
within 18 months. He says “My instant
includes the conference, meals and ma-
ing a location and more. Topics to be
success came from a mixture of rea-
terials. Later registration is after Nov.
covered in the classes include Avoid-
sons, living in Korea in the 90’s, own-
1, 2011. Registration will close on Jan.
ing Industry Pitfalls, Increasing Store
ing a salon and being kicked out of a
13, 2012 or when capacity has been
Revenues, Determining Start-Up Costs,
Korean-owned store for no reason. It
Getting Distributor Accounts and more.
gave me the motivation to succeed,”
Professor Devin Robinson, the found-
Robinson said. “Our goal is to give
er of Beauty Supply Institute says, “We
specific instruction on how anyone can
continue to be the educational leader
become a similar success. The beauty
for the ethnic beauty supply industry.
of our conference is our attendees get
We give specific directions to all con-
to physically meet other people in their
ference attendees that significantly in-
same predicament and since we now
reached. To register, visit www.beautysupplyconference.com or call 202-684-6699.
Earn Income at Home with Free Webinar !!!!!
Webinar: Free class on the web teaches people how to put their computer to good use and earn money from home Whitney Hunter/Graduate Today Blacknews.com
here is a fortune to be had working from home, but this is not something you’ll ever learn attending graduate business schools, says Troy Foster of www.creatingwealthsystems. com while announcing a private, by-invitation only, no-cost live webinar, “Secret Formula Teleseminar,” to be hosted by his partner Rod Stinson. During this 33-minute webinar, participants, according to Foster, will be given a rare behind-the-scenes look at Rod’s step-by-step ‘Secret Formula’ for creating an absolute fortune working from home. Most important, he says, people can begin using this ‘Secret Formula’ to start earning a consistent $497 to $3,497 daily - like clockwork! “This has nothing to do with MLM, Network Marketing, Gifting, Affiliate Marketing, PPC, SEO, Social Marketing, Blogs, eBooks, or any of the other offers people usually hear
about when it comes to making money from home,” said the enterprising Foster. Neither is it some gimmick of the month income scheme, points out Foster. “What you’re going to learn is a time tested and proven formula and methodology Rod has used to consistently earn five and six figures per month income for 19 years now,” Foster said. In fact, Foster claims his partner, has never before shared this ‘Secret Formula’ publicly, but now, he is prepared to share it with anyone who is ready to live a lifestyle of total personal and financial freedom. Those interested in being a part of this private, byinvitation only, no-cost live ‘Secret Formula’ webinar, can simply go to www.creatingwealthsystems.com and register for free.
Debt Deal Impacts Further Education By Janay Kingsberry
o learn, or not to learn? That is the question for many college students
during the upcoming academic school year.
in graduate funding really discourages
was disbursed, will no longer be available
after July 2012. However the incentive to
Subsidized loans, one of the most popu-
set up automatic debit payments will earn
lar types of loans offered in college, will
borrowers an interest rate reduction of 0.25
no longer be open to graduate and pro-
fessional students. Beginning next July,
As lawmakers continue to weigh proposals
graduate students can still borrow up to
to reduce the deficit, there is a possibility of
$138,000 in federal loans, but no subsi-
further impacts to college federal funding.
dized loans will be available. Subsidized
Student loan tax deductions, interest rates,
loans are of extreme importance to col-
and tighter restrictions for borrowing are
lege students because the government
real issues that will be examined as the con-
doesn’t charge interest while students are
gressional committee considers a deficit re-
in school. Therefore, these loans have a
duction package for its November deadline.
major impact on how much is owed upon
“This is a serious issue to be dealt with,”
says Mitchell, “ but its not the first one to
Eliminating subsidies for graduate students
undergo major cuts and it definitely wont be
The government’s agreement to raise the
provides a $17 billion increase for the Pell
the last. We’re college students. We’ll even-
debt ceiling comes at a dire cost that nearly
grant’s undergraduate funding. Pell grants
tually rise from this.”
all Americans will feel. Over the next de-
are a vital part of further education for many
cade, spending cuts of at least $2.1 trillion
students in need.
Although the general college outlook is still grim for many students, Casey believes
will slice through programs such as Medi-
Khimean Casey, a sound design major at
there is still hope in achieving his collegiate
care, Social Security, and federal loan pro-
Savannah College of Art and Design, is a
and career endeavors, “We have to hold faith
grams for college students.
Pell recipient and he says he’s excited about
that our government is looking out for our
Graduate school is often considered a safe-
the extra funding Pell will receive. “It defi-
best interest,” Casey said.
ty net, or back-up plan, for college graduates
nitely helps a lot of families, I just hope it
struggling in the job market. But the debt
deal drastically changes several aspects of paying for college and paying off loans.
About 10 million recipients depend on Pell grant, which can award a maximum of
“I’m not sure what my plans are after col-
$5,550 a year. As reported by the Associated
lege” says Jesmine Mitchell, graduating se-
Press, the extra money closes a Pell funding
nior at Savannah State University. “I’m ma-
gap and protects the program from having to
joring in Homeland Security and sometimes
make any cuts in the near future.
I’ll just browse for jobs. But I’ve noticed
Another major blow for students are the
there are hardly any entry-level positions
loan discounts offered to borrowers who
open. Everyone wants you to have a Mas-
make their payments on time. The discount,
ters, but to be honest, all of these cut-backs
which varies depending on when the loan
Visit www. whitehouse.gov to learn more information about the debt deal impact on college students and other federally funded programs. 19