News & Views for Business Success

        

September 13, 2012
Jigsaw's purpose is to support entrepreneurs, small businesses,
and a sustainable economy in the Wood River Valley.   Visit us at www.jigsawx.org. 

Greetings!   Jigsaw's Business Weekly has been ahead of the curve in posting articles about business ideas just as they've emerged onto the scene. Some have found huge success, such as Kickstarter, a crowdfunding website.
  
Crowdfunding is a means by which a number of people, unknown to each other, provide funds for a business or social enterprise through on-line fundraising. As the Kickstarter Blog shows, the amount raised by crowdfunding can be substantial and be gained in a very short period of time from a large number of people.  
  
Crowdfunding works for small projects too.  Local Matt Leideker recently crowdfunded his second book, Exploring the Sawtooths, through Kickstarter.  As Matt says: "I set my funding window for 21 days from July 10 to the 31st with a plan to raise $5000 and we reached $7500. Since I was pitching the effort to help pay for the printing of the book (I would have proceeded with the project regardless if Kickstarter was successful), I didn't want there to be too much overlap between the Kickstarter funding window and the actual release of the book." 
 
Matt's book came out in early August.  For those of you who want to try crowdfunding, see his Kickstarter entry here.  He reports that "at least 25% of the funding came from friends and family, 50% from local residents, and 25% from other venues outside my immediate marketing circle." Look for his book locally. 

 

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Jigsaw's business plan competition, Entrepreneurs Just Do It! is formally open with submissions due by October 17, i.e. in five weeks.  The top finalists will present at the Ketchum Community Library on November 7 with a $1,000 award going to the winner selected by a panel of experienced business people.  If you're interested, contact me (jimasv@cox.net) for a packet of materials.  If you know someone whom you think might be interested - or should be encouraged to enter - let me know that too.  I'll send materials to them. 

  

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Last but not least, here is yet another local entrepreneur making it onto the scene.  Troy Ballard, who brought Icebreaker merino clothing to the valley a few years ago has started PACT. Its website explains that PACT is "a movement disguised as a clothing company," clothing that "makes the world a better place...socks with soul, altruistic underwear, and other everyday essentials made with fabrics that feel good and go easy on the environment."  Troy's concept is lively, hip, well-expressed, and cause-oriented.  Check out his business.

 

Until next week.....Jima Rice
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Think On It!  

 

"If a cow is at her maximum health and her maximum contentedness, she's profitable. I don't even really manage my farm so much from a fiscal standpoint as from a cow standpoint, because I know that, if I take care of those cows, the bottom line will take care of itself."

  

 Bob Bansen

Third generation dairyman in Yamhill, Oregon.

 
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Jigsaw Events and Notices

 

1. Note change of date:  The next community potluck for the Wood River Time Exchange will be September 19, 6-8 pm, in Hailey at the home of Manon Gaudreau, and her husband, Aubrey. The address is 1231 Buckskin Drive.  Bring food, a beverage, and your most talented friends.  Manon's phone is 788-3876 should you lose your way. 

For Economic Growth, Think Locally

 

Commercial real estate broker Bill Beck, writing in Idaho Business Review, emphasizes the importance of developing local businesses, citing examples from the Boise economy. In his view, economic development that focuses on local business retention and growth trumps attracting businesses.

Biting Into Social Media

    

If you haven't made the leap into social media yet, it's time.  Since it can seem overwhelming, confusing, and time-consuming, here are some tips from About.com to help you get started.

No Rust in Rochester

 

The N.Y.Times reports on the growth of Rochester, a rust-belt city that was once in serious decline. The conclusion?   Rochester has distinguished itself by cultivating "a fertile entrepreneurial class to move in as the dominant employer (Kodak) fades and leaves." The article continues, "In fact, it's the very presence of a single big company that can keep smaller ones from taking root."

This "Non-Profit Corner" is sponsored by the Wood River Women's Charitable Foundation.  For additional non-profit news, visit the Idaho Nonprofit Center.   

  

A Crib Sheet for Non-Profit Impact 

  

In a previous Jigsaw Business Weekly, we provided a link to the Idaho Non-Profit Center's recently issued report on "Non-Profit Economic Impact" in the state. It wasn't a long report but if you like short summaries, check out this two-minute Channel 7 coverage.