Five Things To Know This Week:
1) Do You Need a Meeting Moderator?
2) What Consumers are Buying
3) Profiting from I Dos
4) Cleaning Up
5) Resource of the Week: Celebrating Entrepreneurship
Hello Small Business Edge Readers,
November is National Entrepreneurship Month, and I want to take this opportunity to introduce you to one of the new faces of American entrepreneurship.
Jacob Block was a 28-year-old venture capitalist from Columbus, Ohio, who brokered sales of critical PPE (masks and gowns) from Asia to the U.S. during the pandemic. In his business dealings, Jacob consistently had trouble sourcing a critical piece of equipment—nitrile gloves for frontline workers.
He investigated if and how he could effectively compete with China and Malaysia and produce the highest quality nitrile gloves in the world in Grove City, Ohio. He discovered he’d have to produce “about four billion gloves a year.”
He said, “Ok then, go big or go home!”
As you read these words, Jacob sits inside a 527,000-square-foot warehouse, watching state-of-the-art equipment produce the gloves he dreamed about last year. He raised $41.5 million in equity from investors and borrowed $105 million to get his company where it is today.
Jacob turned 30 this year, a milestone event in his life. When I asked if he had other milestones on the horizon, he replied, “I want American Nitrile to help bring manufacturing back to America. We cannot have critical PPE produced by equipment on the other side of the world.”
Well done, Jacob!
To learn more about Jacob, listen to my podcast with him. Just go to the bottom of this newsletter and click on the link to our show.
Brian Moran, CEO
Small Business Edge
Brian Moran & Associates
Do You Need a Meeting Moderator?
With more businesses operating under a hybrid environment, online meetings can quickly get off track and unfocused. The solution? Appointing meeting moderators.
WorkLife shares some best practices from the University of Colorado for facilitating hybrid meetings. Some suggestions include encouraging engagement, having the right tech (being able to screen share is a must), and setting expectations ahead of time.
Learn more about running hybrid meetings.
What Consumers are Buying
If you’re a clothing retailer, you need to stock plenty of coats and jackets. NPD reports that 43% of consumers say they need to buy new coats and jackets for the winter season.
Also, apparel is one of the top items consumers plan to give as gifts, so you might want to amp up your holiday promotions. NPD reports that consumers will be “spending, albeit more selectively, paying particular attention to new trends, product features, and sought-after brands.”
Read more about the products consumers will be looking for this holiday season.
Profiting from I Dos
So many different types of businesses are involved in the wedding industry, so you’ll be glad to know that the new QuickBooks Wedding Industry Report says almost all (98%) of those surveyed say it’s important for them to work with a small business vendor for their weddings.
The brides and grooms believe they’ll get better and more personalized service from a small business—and most plan to pay their vendors in cash.
Learn more about what brides will be buying for their weddings.
Small business owners never have enough time to get it all done. Balancing your business and personal obligations and responsibilities is always a challenge. Keeping your house clean is essential (especially if you work at home), but it’s always a time suck.
Using a smart cleaning device can help you get the task done faster, and you don’t necessarily need to be involved in doing the dirty work.
Make Use Of (MUO) offers details, answers FAQs, and shares their picks for the best cleaning devices.
Learn more about the best cleaning devices for your home.
Resource of the Week: Celebrating Entrepreneurship
November is National Entrepreneurship Month, where we “celebrate the doers, dreamers, and job creators whose vision and grit fuel our economy and capture the essence of America.”
And November 14th-20th is Global Entrepreneurship Week, and November 15th is National Entrepreneurship Day.
I salute all the business owners who work hard every day nurturing their businesses. I hope you all have a lot to celebrate.
Learn more about National Entrepreneurship Month.
Click HERE to listen to the podcast with Jacob Block