Scorecard
Utah’s Largest Cities
Don't get a business degree, get
angry
By Anita Roddick, founder of Body Shop
I never went to business school. I went to the
business school of life. And I did so from an early
age. I was brought up in an Italian immigrant family
with a work ethic that teetered on the verge of slave
labour.
We got up each morning at five to make
breakfast for the local fishermen in our caf� in
Littlehampton and did not close until the last
customer wandered home. The other caf�s opened
at nine and shut at five. This was a clue to me about
what makes some people entrepreneurs and not
others. Our caf� was owned by ferociously
determined immigrants; the others were not.
This is an important difference and the reason
that I do not advise new entrepreneurs to submit
themselves first to the rigours of an MBA is that
business schools do not understand it. The
conventional advice to budding entrepreneurs is that
they should groom themselves to be the whizz-kid
with a suit and a fascination for spreadsheets that
bank managers like.
Actually, potential entrepreneurs are outsiders.
They are people who imagine things as they might
be, not as they are, and have the drive to change
the world. Those are qualities that business schools
do not teach. An MBA can give you useful skills that
can be applied to a life in business. But they will not
teach you the most crucial thing: how to be an
entrepreneur. They might also sap what
entrepreneurial flair you have as they force you into
the template called an MBA pass.
I often get asked to talk about entrepreneurship -
even by hallowed institutions such as Harvard and
Stanford - but I am not at all convinced it is a
subject you can teach. How do you teach obsession -
because often it is obsession that drives an
entrepreneur's vision? How do you learn to be an
outsider if you are not one already?
In the business school model, entrepreneurs are
most at home with a balance sheet, a cash-flow
forecast and a business plan. They dream of profit
forecasts and the day they can take the company
public. These are just part of the toolbox of re-
imagining the world: they are not the defining
characteristics of entrepreneurship. The problem with
business schools is that they are controlled by, and
obsessed with, the status quo. They encourage you
deeper into the world as it is. They transform you
into a better example of corporate man. We need
good administration and financial flair, after all, but
we need people of imagination too.
So here are 10 lessons that entrepreneurs need
more than what they teach in business school.
- Tell stories. The central tool for
imagining
the world differently and sharing that vision is not
accountancy. It has more to do with the ability to
tell a story.Telling stories emphasises what makes
you and your company different. Business schools
emphasise how to make you toe the line.
- Concentrate on creativity. It is critical
for
any entrepreneur to maximise creativity and to build
an atmosphere that encourages people to have
ideas. That means open structures, so that accepted
thinking can be challenged.
- Be an opportunistic collector. When
entrepreneurs walk down the street they have their
antennae out, evaluating how what they see can
relate back to what they are doing. It might be
packaging, a word, a poem or something in a
different business.
- Measure the company according to fun and
creativity.Business schools are obsessive about
measurement. The result is vast departments of
number-crunchers, but often little progress. What is
most important in a company - or anything else - is
unquantifiable.
- Be different, but look safe. If you are
different, you will stand out. But do not take risks
with people who can make the difference between
success and failure, especially if you are a woman
trying to borrow money from the bank - which is how
I came to be turned down for my original loan.
- Be passionate about ideas.
Entrepreneurs
want to create a livelihood from an idea that has
obsessed them; not necessarily a business, but a
livelihood. When accumulating money drives out the
ideas and the anger behind them, you are no longer
an entrepreneur.
- Feed your sense of
outrage. Discontentment drives you to want to
do something about it. There is no point in finding a
new vision if you are not angry enough to want it to
happen.
- Make the most of the female
element. Companies as we know them were
created by men for men, often influenced by the
military model, on complicated and hierarchical lines
and are both dominated by authoritarian principles
and resistant to change. By setting up their own
businesses, women can challenge these models and
will be welcomed by customers for doing so.
- Believe in yourself and your
intuition. There is a fine line between
entrepreneurship and insanity. Crazy people see and
feel things that others do not. But you have to
believe that everything is possible. If you believe it,
those around you will believe it too.
- Have self-knowledge. You do not need
to
know how to do everything, butyou must be honest
enough with yourself to know what you cannot
provide yourself.
Until they can teach these lessons, business
schools will remain the whited sepulchres of the
status quo.
Source: The Financial Times Limited 2006
The $38,500 Closet
To live in New York City is to covet thy
neighbor’s closet. Especially if it’s a walk-in.
Since apartment living is by its very nature
space-limited, storage or the lack thereof can mean
the difference between strolling out the front door in
a well-pressed suit and shuffling out while trying to
straighten a hopelessly rumpled collar. But the lowly
closet is not just a place for shoe boxes and
sweaters anymore. It has become a hot commodity —
a player in the New York real estate market.
Developers of new buildings tout basement
storage units as an amenity almost on a par with a
gym or a doorman. Wire-mesh storage cages now
routinely sell for $30,000 to $40,000, and enclosed
storage rooms can sell for twice as much.
The advantages are clear. Residents get private
storage without having to trek to a faraway
warehouse. Unused areas of the buildings are
transformed into clean, practical and profitable
spaces. And building sponsors or boards get a new
source of income without raising fees or imposing
assessments.
Shaun Osher, the chief executive of Core Group
Marketing, said that while developers rarely included
storage space in their buildings 10 or 15 years
ago, “now it’s expected, and as long as there’s an
opportunity to put it in, they’re doing it.”
But, he added, “not all storage space is created
equal.”
He said he had seen storage prices ranging from
$700 to $2,000 per square foot, with basic wire
cages at the low end, and at the high end, sealed
and climate-controlled rooms suitable for storing wine
or fine art, some selling for as much as $80,000.
“The storage space generally reflects what’s
happening upstairs,” he said. “And it doesn’t matter if
you have a small or big apartment, space is at such
a premium in the city, everyone finds this additional
space valuable.”
Michael Chapman, an executive vice president of
Stribling, said storage was often one of the first
things that prospective buyers asked about when
shopping for an apartment. “Closet space within units
is becoming more and more minimal,” he said, “so
extra storage is becoming so important to people. If
you asked New Yorkers what they would rather have,
parking or storage, I think most would say storage.”
Kenneth Horn, the president of Alchemy
Properties, said that this reality led his company to
incorporate storage into all of its latest projects.
Three buildings under construction will offer storage
cages for sale, with prices ranging from $28,000 to
$36,000 in Brooklyn, and slightly more in Manhattan.
But in three other projects that Alchemy
completed in the last two years, storage units have
been provided with every apartment at no extra
charge. Like other developers, Mr. Horn said,
Alchemy sells storage units only when there are not
enough units to assign one to each apartment, and
so they must be allocated on a first-come-first-
served basis.
In new construction, when storage is provided
with an apartment, the square footage is generally
tacked onto an apartment’s square footage, which
means that it will figure into maintenance costs and
property taxes.
Developers lavished space on
storage because they were trying to coax wealthy
people out of town houses and into their new
apartment buildings - Buildings are going back to that
focus on
luxury, and they’re allocating the space for storage
again.
Source: New York Times, November 16, 2006
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Greetings!
Don't get an MBA! Get Angry!
Grants
Economic notes
This weeks leads
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Economic Snapshot – Three Months FY2006-2007 |
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- Sales and Use Taxes +3.9%
- Corporate Franchise Taxes +40.4%
- Individual Income Taxes +10.7%
- Individual Income Taxes: Withholding
+14.4%
- Severance Taxes +33.3%
- Mineral Taxes: Withholding +29.7%
- Uniform School Total +9.5%
- Motor Fuel Taxes +.4%
Source: Utah State Tax Commission, 11/16/06
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Economic Notes: |
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- Risk of Recession
- The Moody’s Economy.com probability of
recession fell in October to 14%, from September’s
downwardly revised 20%. Most components of the
indicator were unchanged in October, but the sharp
increase in the S&P 500 index for the month helped
put downward pressure on recession risks. The
chance of the economy being in recession in six
months remains modest.
- Global Survey of Business Confidence
- Global businesses remain tentative.
Confidence is holding steady, as it has since late
summer, but its level is consistent with global growth
that is below potential. Vehicle and transportation
companies are notably dour, with confidence among
residential real estate and manufacturing firms
particularly fragile. European firms are the most
downbeat, while South American firms are the most
optimistic. North American and Asian confidence is
stable, but off sharply since peaking nearly a year
ago. Firms continue to invest strongly in equipment
and structures, but notably less so than in the
summer, and are liquidating inventories. The best
news is on pricing, with price pressures back to
where they were in early 2005.
- Consumer Price Index
- The seasonally adjusted consumer price index
fell 0.5% in October, after a 0.5% decline in
September. For the second straight month, a big
drop in energy prices pushed the overall index lower.
The core index, excluding food and energy prices,
rose 0.1%, in October; this followed three straight
months of 0.2% monthly increases in the core CPI.
Over the past year, core CPI inflation has run at a
2.8% pace on a seasonally-adjusted basis. The drop
in top line inflation was larger than expected, and the
increase in the core CPI was smaller than expected.
This is very good news on the inflation front.
- US Federal Budget
- The unified deficit for October was $49.3
billion, online with the CBO’s preliminary estimate.
This was 4% greater than the unified deficit in
October 2005.
- Retail Sales (MARTS)
- Total retail sales fell 0.2% in October, below
September’s downwardly revised 0.8% decline. Auto
sales rose despite the decline in unit auto sales. Non-
auto sales fell 0.4%. Gas station sales tumbled again
and accounted for the decline in sales. Year-over-
year growth fell to 4.5% in total and 3.1% excluding
autos.
- PPI
- Producer prices for finished goods fell by
1.6% in October due to price declines across a wide
range of goods. Prices for finished energy products
continued their decline, falling by 5.0%. Excluding
food and energy products, core prices for finished
goods fell by 0.9%, the largest monthly decline in
more than a year.
- Business Inventories
- Total business inventories increased 0.4% for
September, below both our and consensus
expectations. Inventories at retailers fell 0.1%. Total
business sales decreased by 2%. The total I/S ratio
moved up to 1.3.
- Chain Store Sales
- Chain store sales fell 0.8% in the week ending
November 11, reversing a large part of the prior
week’s gain and continuing a recent pattern of
erratic growth, according to the ICSC. Year-over-
year growth slipped to 2.1%, the lowest since late
July.
- MBA Mortgage Applications Survey
- Mortgage demand increased 4.3% in the week
ending November 10. Purchase applications increased
2.7% and refinance applications increased 6.5%.
- Oil and Gas Inventories
- Crude oil inventories rose 1.3 million barrels
for the week ending November 10, according to the
Energy Information Administration, well above
expectations of a 0.3 million barrel build. Distillate
inventories fell by a whopping 3.6 million barrels, well
above expectations of a 0.4 million barrel draw.
Gasoline stocks fell 3.7 million barrels, also sharply
above expectations of flat inventories. A drop in
refinery activity was to blame. This is another
moderately bullish report, due mostly to the
surprisingly large drop in product inventories.
- Natural Gas Storage
- Underground storage of natural gas increased
by five billion cubic feet during the week ending
November 10. This was slightly less than the
expected injection of 7.8 Bcf into storage.
Inventories are now 7.4% above the five-year
average. This report is likely to have minimal impact
on prices.
- International Capital Flows
- The overall net inflow to U.S. securities was
$65.1 billion in September, following a net inflow of
$114.1 billion in August.
- NAHB Housing Market Index
- Homebuilder optimism increased 2 points to 33
in November, its second consecutive monthly
increase, after eight consecutive months of
declines.
Source: Economy.com
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This Weeks Leads: |
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- Tradehome Shoes.
- Tradehome Shoe Stores, Inc. trades as
Tradehome Shoes. The 97-unit chain operates
locations throughout AR, CO, IA, IN, IL, KS, MI, MN,
MO, MT, ND, NE, OK, SD, WI and WY.
- The family
shoe stores occupy spaces of 1,600 sq.ft. to 2,200
sq.ft. in malls.
- Plans call for 12 openings
throughout AR, CO, IA, ID, IN, IL, KS, MI, MN, MO,
ND, NE, OH, OK, SD,UT, WI and WY during
the coming 18 months.
- Typical leases run 10
years. A vanilla shell and specific improvements are
required.
- For details, contact
- Patrick Teal
- Tradehome Shoe Stores, Inc.
- 8300 97th Street South
- Cottage Grove, MN 55016
- 651-459-8600 Ext. 109, Fax 651-459-
8611
- Select Comfort Creator of the Sleep
Number Bed
- Select Comfort Retail Corp. trades as Select
Comfort Creator of the Sleep Number Bed at 423
locations nationwide.
- The home furnishings stores
occupy spaces of 1,200 sq.ft. to 2,500 sq.ft. in
malls, entertainment, lifestyle and specialty
centers.
- Plans call for 60 to 70 openings
nationwide during the coming 18 months.
- Typical
leases run seven years.
- Preferred cotenants
include Banana Republic, Brookstone, Cheesecake
Factory, Coach, Eddie Bauer, J. Crew, Limited Too,
P.F. Changs, Pottery Barn and Williams-
Sonoma.
- Preferred demographics include a
population of 100,000 within five miles earning
$50,000 as the average household income.
- For more information, contact Gary Cary, vice
president of real estate, John Stange regarding the
western region or John Key regarding the eastern
region, Select Comfort Retail Corp., 6105 Trenton
Lane North, Minneapolis, MN 55442; 763-551-7174,
Fax 763-694-3386; Emails:
[email protected] or
[email protected]; Web site:
www.selectcomfort.com.
- Entertainment Cinemas
- Entertainment Cinemas operates nine locations
throughout CT, MA and RI.
- The movie theaters
occupy second-generation spaces of 20,000 sq.ft. to
50,000 sq.ft. in freestanding locations and
malls.
- Growth opportunities are sought throughout
its existing markets and an entry to ME, NH and VT
during the coming 18 months, with representation by
National Commercial Brokers.
- Preferred
demographics include a population of 100,000 within
seven miles earning $35,000 as the average
household income.
- The company prefers site
submittals by mail or email.
- For more information, contact Ed Gerwig or Brian
Nadler, National Commercial Brokers, 75 Second
Avenue, Suite 315, Needham, MA 02494; Email:
[email protected]; Website:
www.nationalcommercial.com.
- Kerasotes Theatres
- Kerasotes Theatres operates over 75 locations
throughout IA, IL, IN, MN, MO and OH.
- The movie
theaters occupy spaces of 40,000 sq.ft. in
freestanding locations, malls, entertainment and
power centers.
- Growth opportunities are sough
throughout the existing markets during the coming 18
months, with representation by Mid-America Real
Estate.
- For more information, contact Steve Frishman,
Mid-America Real Estate, 2 Mid America Plaza, Suite
330, Oakbrook Terrace, IL 60181; 630-954-7300, Fax
630-954-7304; Email:
[email protected].
- Il Fornaio
- Sequoia Restaurant & Entertainment Group trades
as Il Fornaio at 26 locations throughout CA and NV.
- The restaurants occupy spaces of 8,000 sq.ft. in
mixed-use centers.
- Growth opportunities are sought nationwide
during the coming 18 months.
- For more information, contact:
- Brian Kjos
- Sequoia Restaurant & Entertainment Group
- 610 Newport Center Drive, Suite 500
- Newport Beach, CA 92660
- Web site: www.sequoiacompany.com.
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Grants: |
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Improve Communications Tech for Public
Safety!
- Communications Technology
- POSTED: 10/27/2006
- FUNDING SOURCE: Dept. of Justice
- ELIGIBILITY: Nonprofits, public agencies, and
IHEs
- $ AVAILABLE: $500,000 GRANTS AVAILABLE:
N.A.
- MAX GRANT SIZE: N.A.
- DEADLINE: 11/27/06
- CONTACT INFORMATION: Joseph Heaps, 202-305-
1554
- DESCRIPTION: Funds to research, develop, and
evaluate emerging communication technology
solutions for public safety agencies.
Return Prisoners to Society!
- Prisoner Reentry Initiative
- POSTED: 10/30/2006
- FUNDING SOURCE: Dept. of Justice
- ELIGIBILITY: States and Indian Tribes
- $ AVAILABLE: N.A.
- GRANTS AVAILABLE: 20
- MAX GRANT SIZE: $450,000
- DEADLINE: 1/11/07
- CONTACT INFORMATION: Julius Dupree, 202-514-
1928
- DESCRIPTION: Reduce criminal recidivism by
helping returning offenders find work and access
other critical services in their communities.
Improve Health Literacy!
- Understanding and Promoting Health Literacy
- POSTED: 10/30/2006
- FUNDING SOURCE: DHHS
- ELIGIBILITY: Nonprofit and public agencies
- $
AVAILABLE: N.A.
- GRANTS AVAILABLE: N.A.
- MAX GRANT SIZE: $200,000
- DEADLINE: 4/27/07 (LOI); 5/24/07 (Final)
- CONTACT INFORMATION: Marge Keyes, 301-427-
1333
DESCRIPTION: Funds to encourage empirical research
on health literacy
- concepts, theory and
interventions.
Improve Americans' Understanding of Foreign
Language!
- Intensive Summer Language Institutes
- POSTED: 10/31/2006
- FUNDING SOURCE: Dept. of State
- ELIGIBILITY: Nonprofit and public agencies
- $
AVAILABLE: $6,000,000 GRANTS AVAILABLE: 1 MAX
GRANT SIZE: $6,000,000
- DEADLINE: 1/5/07
- CONTACT INFORMATION: Heidi Manley, 202-453-
8135
- DESCRIPTION: One grant to provide foreign
language instruction for American undergraduate and
graduate students.
Reduce Youth Violence!
- Maximizing Protective Factors for Youth Violence
- POSTED: 10/31/2006
- FUNDING SOURCE: DHHS
- ELIGIBILITY: Nonprofit and public agencies
- $
AVAILABLE: $400,000
- GRANTS AVAILABLE: 2 MAX
GRANT SIZE: $200,000
- DEADLINE: 1/26/07 (LOI); 2/28/06 (Final)
- CONTACT INFORMATION: Rebecca Leeb, 770-488-
1156
- DESCRIPTION: Funding to conduct secondary
analysis of existing data to identify potentially
modifiable protective factors for youth violence.
Improve Teacher Understanding of
Technology!
- Information Technology Experiences for Students
and Teachers
- POSTED: 11/1/2006
- FUNDING SOURCE: NSF
- ELIGIBILITY: Nonprofit and public agencies
- $
AVAILABLE: $20,000,000
- GRANTS AVAILABLE: 17
MAX GRANT SIZE: $900,000
- DEADLINE: 1/5/07 (Preliminary); 5/10/07 (Final)
- CONTACT
- INFORMATION: Sylvia James, 703-
292-9044
- DESCRIPTION: Funding for a wide array of
activities to assist teachers and their students
understand information technology.
Treat Alcoholism!
- Mechanisms of Behavior Change in the Treatment
of Alcohol Use Disorders
- POSTED: 11/1/2006
- FUNDING SOURCE: DHHS
- ELIGIBILITY: Nonprofit and public agencies
- $
AVAILABLE: N.A.
- GRANTS AVAILABLE: N.A.
- MAX GRANT SIZE: $275,000
- DEADLINE: 12/19/06 (LOI); 1/19/07 (Final)
- CONTACT INFORMATION: Robert B. Huebner, 301-
443-1206
- DESCRIPTION: Grants to investigate the
underlying mechanisms that drive behavior change
within the context of behavioral treatments for
alcohol dependence.
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BONNEVILLE RESEARCH |
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"Problem-solving" is not planning, and
"Planning" is not the same as "problem-
solving"
Effective planning can not be done without
addressing the problems that are critical.
Not all problems deserve attention. Some just
go away.
BONNEVILLE RESEARCH
Bonneville Research is a Utah-based consulting
firm providing economic, financial, market and policy
research to public and private sector clients
throughout the intermountain west.
Our services include:
- Financial Analysis
- Urban Renewal & Redevelopment
Analysis and Budgets
- Strategy and Policy Analysis
- Economic and Fiscal Impact Analysis
- Statistical and Survey Research
Each of our studies is tailored to address the
unique needs of our clients and their communities.
My uncles who were road contractors, would
always try to get jobs in Zion, St. George, Las Vegas
or Arizona for the winter. I've never been that lucky
or smart! We currently have assignments in
Arizona and New Mexico, but they are more than
balanced by one in West Yellowstone.
Yes, we do work on a regional basis and if you
have something we can help with in "Sun Country",
Jon or I would love to load up our bicycles and
explore the opportunity.
Bob Springmeyer
Bonneville Research
If we can help, please call or email us at
- Bob
- 801-364-5300
- [email protected]
- Jon
- 801-746-5706
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[email protected]
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