Choosing The Right Business

Graduate TodaySocial Media

Tips For How to Start a Business

Choosing The Right Business

2

How to build a successful business by Whitney Hunter.........................................................p. 5

Promoting businesses through social media By Whitney Hunter............................................p. 8

Brainstorming: Choosing the right business By Whitney Hunter...........................................p. 10

Addicted to Money By Whitney Hunter............................................................................p. 12

Think Globally, Act Locally by Whitney Hunter................................................................p. 14

Student Entrepreneurship: How students can get free money for business ventures By Whitney

Hunter....p. 16

Beauty supply conference...... p. 17

African-American home business expert Troy Foster.....p. 18

Debt Deal impacts college students By Janay Kingsberry................................................p. 19

All advertising was used with the permission of the advertiser or owner of the advertisiment.

See What’s Inside

How to Build a Successful BusinessBy Whitney Hunter

5

Many college students faced

with a declining job market find

entrepreneurship appealing, but few know

the process to create a successful business.

Start with a blueprint that

features the goal of the business, the target

audience, and funding. Good questions

to ask while preparing a blueprint are:

What niche is the business trying to fulfill

in the market place? What makes my

product important? What will this product

achieve?

Next, think about the target

audience and whether this product will

appeal to a younger demographic of 18-

26 or an older demographic of 40-60.

Knowing what audience to penetrate is

crucial because many businesses fail

due to communication issues.

Conduct primary and secondary research.

Primary research consists of surveys and

questionnaires where you ask the intended

audience how they feel about a product.

Some questions may be how much money

someone is willing to pay for a product or

does he or she feel this product is sorely

needed in the market place. Try to limit

the sample size to 25 people. Remember

“the customer is always right” is the first

rule of business and knowing customers

will increase revenue.

Secondary research can also be

useful. This research consists of books,

journals, magazines, newspapers, and

other useful secondary information.

Remember when using online sources

to evaluate them closely because not

all information on the Internet is good

information; a person should look for

scholarly sources not information found

on a blog.

Now it is time to evaluate the

market. 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.

The best way to obtain funding is to attract

investors who believe in the product; it

is never a good idea to spend personal

capital.

Develop a coherent and realistic

budget plan that shows the start up costs

of the business without financial strain.

Planning is everything, so do

not be too eager to grasp the pot of gold

before getting things in financial order.

Lastly, choose a business structure that

is beneficial such as a partnership or

corporation.

Following these steps will ensure

a succesful business, however research is

key to determining whether a business will

stand the test of time.

Check us out online !!!!!!!!!

Whitney Hunter/Graduate Today

Social Media

Promoting businesses through social media

Promoting Businesses Through Social Media

Social 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.”

By Whitney Hunter

Editor’s Note:“Social media workshops are another great

way to build on business skills”

8

Choosing 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.

Whitney Hunter/Graduate Today

Visit DominicRoss.net andnaytrekvoyager.com

today

Brainstorming: Choosing the Right BusinessBy Whitney Hunter

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“I am where I ambecause I do what is neccessary to get the job done” -Azir Shakaur

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By Whitney Hunter

Addicted to Money Founder and CEO of Addicted to Money Azir

Shakaur’s hustler mentality may seem unearthly, but his work

ethic can be traced back to his days as a youngster in the Bronx,

New York project of St. Mays’.

33-year-old Shakaur’s introduction to the business

world came early at 11-years-old when he started a paper route

every Sunday in his neighborhood. Shakaur not only profited

from the sales of 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 friend.

“Next, I worked in a barbershop called Six Corners as

a shoe-shine kid, where I was introduced to narcotics,” Shakaur

said.

Local pimps, drug dealers, and hustlers saw the youth’s

consistent work ethic and soon he became a carrier for their

product.

Eventually his behavior landed him in jail and once

released he did a variety of odd jobs ranging from a dishwasher

at a truck stop to district manager of a pizza franchise.

However, it was not until he saw how much money his

cousin, a local disk jockey, made hosting a party that the idea for

Addicted to Money was born.

“I got out of jail at 21, from 21 to 23 I was in the

streets,” Shakaur said. “Addicted to Money started off from the

money I put away from the streets.”

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 Trina, Charlie

Boy Gang, Wacka Flocka, Lil Rue, Dj Khaled, Rich Kids, and

Juvenile.

Despite the changes in the economy, Shakaur assists his

company is thriving.

“People always need entertainment in this volatile

economy; they want to get away from their problems,

Every business experiences losses, but we are doing

well,” Shakaur said.

So what inspires him after all these years?

“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, P. Diddy, and the book “Think

and Grow Rich” by Napoleon Hill.

Poverty is unattractive to Shakaur but he takes his drive

and determination from another source: his faith.

“I believe God wants all people to succeed and your

trials and tribulations are already written in God’s book,”

Shakaur said. “He is not going to put more on you than you can

handle.”

He does not encourage young people to engage in

narcotic trafficking to achieve riches, but says the key to success

does not lie in the resources one uses to get there, but lies in the

mind.

“If you can conceive it then you can achieve it,”

Shakaur said. “Every entrepreneur fails 38 times, always keep

yourself informed about the market you are trying to attack.”

Follow Addicted to Money on

Twitter

By Whitney Hunter

The education system in America has been in shambles for years, particularly in low-income African-American 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.

Whitney Hunter/Graduate Today

Think Globally, Act Locally

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Student Entrepreneurship: How Students Can Get Free Money for Business Ventures

Student entrepreneurship was not on the radar of

American colleges, but in recent years they have given buckets

of cash to student businesses.

Arizona State University grants $100,000 to students

every year based on a well-rounded business proposal. However,

the funds are limited and only 15-20 submissions out of 100 are

accepted.

ASU is not the only university willing to go out on

a limb to support a student’s dream; many universities are

answering this 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.

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.

What’s the prize?

A $100 gift certificate and dinner with local

entrepreneurs.

The student entrepreneurship craze is so much on the

rise that Grand Canyon University, a for profit institution, has

opened an entrepreneurship college. The college is funded via

a $30 million venture-capital fund given to the university by a

local entrepreneur.

The $30 million fund will allow each student to

receive $100,000, but only 10 percent of business proposals

submitted for review will receive the money.

Starting a business, especially for a student, can be

difficult and it may require hours of research. However, the

money is out there.

Whitney Hunter/Graduate Today

Editor’s Note:

Research other schools for

more information. Check

us out online.16

By Whitney Hunter

17

Blacknews.com

Beauty Supply Institute brings their 3rd Annual Beauty Supply Entrepreneurship Conference to Las Vegas, Nevada. The conference

consists of six specific classes to be administered during the one-day conference. Conference attendees will be given take-home ma-

terials that cover store layout, obtaining funding, selecting a location and more. Topics to be covered in the classes include Avoiding

Industry Pitfalls, Increasing Store Revenues, Determining Start-Up Costs, Getting Distributor Accounts and more.

Professor Devin Robinson, the founder of Beauty Supply Institute says, “We continue to be the educational leader for the eth-

nic beauty supply industry. We give specific directions to all conference attendees that significantly increase their chances of opening

stores... our un-coached testimonies speak for themselves.”

The summer conference has been held in Atlanta, Georgia on the weekend of the Bronner Brothers Hair Show for the past

two years, and has attracted attendees from all across the United States.

Robinson founded Beauty Supply Institute after he opened three stores within 18 months. He says “My instant success came

from a mixture of reasons, living in Korea in the 90’s, owning a salon and being kicked out of a Korean-owned store for no reason. It

gave me the motivation to succeed,” Robinson said. “Our goal is to give specific instruction on how anyone can become a similar suc-

cess. The beauty of our conference is our attendees get to physically meet other people in their same predicament and since we now

offer financing of our larger services, opening a store is now more reachable for attendees.”

This added conference will take place at Circus Circus Hotel and Casino in Las Vegas, Nevada on February 18, 2012. Confer-

ence and room packages are available at a special conference discounted rate. Seats are limited. Registration is open now for $299 and

includes the conference, meals and materials. Later registration is after Nov. 1, 2011. Registration will close on Jan. 13, 2012 or when

capacity has been reached.

To register, visit www.beautysupplyconference.com or call 202-684-6699.

Beauty Supply Institute to Host Beauty Supply Conference

African-American Home Business Expert to Host Free Webinar

Blacknews.com

“There 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, by-invitation only, no-cost live ‘Secret Formula’ webinar, can simply go to

www.creatingwealthsystems.com and register for free.

Troy Foster on the cover of Successful Magazine

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Debt Deal Impacts College Students

“To learn, or not to learn?” That

is the question for many college students

during the upcoming academic school

year.

The government’s agreement to

raise the debt ceiling comes at a dire cost

that nearly all Americans will feel. Over

the next decade, spending cuts of at least

$2.1 trillion will slice through programs

such as Medicare, Social Security, and

federal loan programs for college students.

Graduate school is often

considered a safety net, or back-up plan,

for college graduates struggling in the

job market. But the debt deal drastically

changes several aspects of paying for

college and paying off loans.

“I’m not sure what my plans

are after college” says Jesmine Mitchell,

graduating senior at Savannah State

University. “I’m majoring in Homeland

Security and sometimes I’ll just browse

for jobs. But I’ve noticed there are hardly

any entry-level positions open. Everyone

wants you to have a Masters, but to be

honest, all of these cut-backs in graduate

funding really discourages me.”

Subsidized loans, one of the

most popular types of loans offered

in college, will no longer be open to

graduate and professional students.

Beginning next July, graduate students

can still borrow up to $138,000 in federal

loans, but no subsidized loans will be

available. Subsidized loans are of extreme

importance to college students because the

government doesn’t charge interest while

students are in school. Therefore, these

loans have a major impact on how much is

owed upon graduation.

Eliminating subsidies for

graduate students provides a $17 billion

increase for the Pell grant’s undergraduate

funding. Pell grants are a vital part of

further education for many students in

need.

Khimean Casey, a sound design

major at Savannah College of Art and

Design, is a Pell recipient and he says

he’s excited about the extra funding Pell

will receive. “It definitely helps a lot of

families, I just hope it lasts.”

About 10 million recipients

depend on Pell grant, which can award a

maximum of $5,550 a year. As reported

by the Associated Press, the extra money

closes a Pell funding gap and protects the

program from having to make any cuts in

the near future.

Another major blow for students

are the loan discounts offered to borrowers

who make their payments on time. The

discount, which varies depending on when

the loan was disbursed, will no longer

be available after July 2012. However

the incentive to set up automatic debit

payments will earn borrowers an interest

rate reduction of 0.25 percent.

As lawmakers continue to

weigh proposals to reduce the deficit,

there is a possibility of further impacts

to college federal funding. Student loan

tax deductions, interest rates, and tighter

restrictions for borrowing are real issues

that will be examined as the congressional

committee considers a deficit reduction

package for its November deadline.

“This is a serious issue to be dealt

with,” says Mitchell, “ but its not the first

one to undergo major cuts and it definitely

wont be the last. We’re college students.

We’ll eventually rise from this.”

Although the general college

outlook is still grim for many students,

Casey believes there is still hope in

achieving his collegiate and career

endeavors, “We have to hold faith that our

government is looking out for our best

interest,” Casey said.

By Janay Kingsberry

Visit www.whitehouse.gov to learn more information about the debt deal impact on college students and other federally funded programs. 19