My Letter to Obama

So, I was inspired by a young girl who wrote to Obama asking him to fix her crumbling school. Our plight is not as humble or altruistic, but we are Americans with a problem and here is how I tried to make President Obama feel sorry for us in the form of a letter:

Dear President Obama,

I am a 22 year old entrepreneur from Chicago, IL. I currently reside in Boston, MA. In May, I graduated from Boston University with a business degree and concentration in entrepreneurship. In school we learned the fundamentals of fundraising for our start-ups as well as the various sources from which we would be able to raise capital. For the past 10 months, I have been working to start-up my own company with a group of talented, young post-grads. In October, I was laid off from my full time job at a small software company along with two of my co-workers and business partners. At the time, we made the recession our excuse to focus our time on the start-up venture so that we could make a living and create jobs for 5-6 Americans. Once we grow, we often said, we would be able to hire more people and do our part for the economic cycle.

I went to school to become an entrepreneur. You can imagine my surprise almost a year later to discover that the SBA does not give loans to people like me. Instead they give loans to the top ten largest companies in the United States. My team’s idea is a good one. The idea is supported by a vast amount of market data and research and financial projections, and is an idea that falls under the “recession-proof” category. My predicament is that my job is with my company. Unfortunately, I do not know when my dream will be realized because my government does not support it. My team is trying to sell equity to family and friends, but people are as protective of their money as ever, and understandably so.

If only there existed a body within the SBA (or better yet, independent from the SBA, thus independent from financial institutions) that loaned specifically to start-up entrepreneurs, this country may see some unrivaled innovation that has been missing since the early industrial revolution.

Thank you

Storefront Shopping on Newbury Street

Yesterday afternoon we met with our broker, John, to look at some open retail spots on Newbury St. John had set up an appointment with another broker, Tom, who represents the company that owns almost all the buildings on Newbury. We were supposed to see about 5 spots, but ended up seeing only 2. Why? Tom explained to us that we were very limited in our options as a quick-service restaurant concept. He said that the Tenant Association, which approves new development projects on Newbury St. would reject us in a heartbeat (because of the nature of our food operation). Tom chimed that the process of obtaining a permit to build our restaurant on the odd side of Newbury would probably cost us about $30,000. Tom suggested one spot on Newbury (on the even side) where we actually had a chance (simply because it abuts Boylston St. and not residential property).

Let's talk about this spot. It's great, it's in our price range, and it's right next to a competitor. Drats. Who says "drats" anymore? So let's review: great location, good price, nice layout, wouldn't need too much work, right next to competitor. One can argue that on any high-traffic street such as Newbury, you are essentially always next to a competitor. If I'm not next to one, I'm down the block from one. Alright, I'll be fair: the competitor is not a direct competitor in the sense that Starbucks is to Dunkin Donuts or Trident (all on the same block). However, for a new brand as ours, we run the risk of being dwarfed by our competitor's name.

We continue our search. Choosing a location will be the most difficult decision our team must make, but as a very wise someone once told me: whatever you choose, it will have been the right decision for whatever reason. Maybe this is true, but we'll just have to make the right decision and find out. = )

Old School

I decided the time had come to buckle down and work on the Saus marketing/publicity plan. (My guilty conscience on how negligent I've been has been eating away at me... I really thought procrastination would finally stop once I graduated, but instead I think it got worse.) So I sat my butt down and forced myself to concentrate and think outside the box.

Unfortunately, just like my procrastination got worse since college, my thinking got more structured and box-like- damn you corporate world! I exhausted all the typical PR ideas, even embraced new media, but nothing earth shattering/freaking awesome would come to me.

I decided I needed a trip back to college to bring out my "creative" side (what the corporate world sees as ideas that "won't" work because I don't fully understand the concept behind them...) But those are the ideas I'm looking for. So I emailed an old professor and requested a meeting. I find myself really looking forward to his ruthless critique of my "marketing" plan (something I would have dreaded in college- oh how the times have changed.)

Eco-Spending

Organic, fair trade, sustainably grown. These are buzz words that make me feel warm and fuzzy inside.

I just ate Vietnamese Fresh Rolls for lunch from Equal Exchange Cafe. We are in a recession, I am scrimping with money and here I am going out for lunch! (What can I say, food is a priority in my life). But these words made me feel good about spending my hard-earned, what-little-I-have money there.

I know this eco-organic thing is more than a trend... could we call it a movement? And businesses are leveraging it to boost their image (and business). Which is great. Great for the environment, great for the economy- anything to get people spending.

And we at Saus have already discussed being as sustainable as possible as a business. Serving locally grown produce (see Wo de si-uh), composting, using recycled/recyclable to-go cartons, etc. And even though these are all things we can feel good about doing, we also have in the back of our minds that our customers will be happier to support us by spending more, if they know they are also supporting an eco-friendly company.

So, sound off.. Do you think you feel better about spending (and spend more) if you are helping a good cause? What do you think about portions of proceeds going to good causes (doesn't have to be environmental)? Or will all these warm and fuzzies have no effect on your spending?