One effective way to track customer behavior and buying patterns is to keep purchasing logs, which allow you to analyze who is buying what type of product. These logs can be written or computerized, depending on the size of the clientele. Once you recognize a client’s buying pattern you will be in a position to recommend similar products, whether in the same price range or product category. It is helpful to know the general quantity of the product your customers buy, too. If you know their purchasing patterns, you can keep well stocked on popular items, or recommend similar products. Understanding buying habits is important because you can set aside products that your customers usually purchase. Sending out mass emails to buyers, on occasion, is a smart idea. It lets them know you have them in mind and serves as a reminder that your product may be needed soon. When it comes to satisfying customers, knowledge of their expectations is very helpful. For instance, know whether a client is quality driven or would be just as happy with a lower cost generic offering. Offering a client, driven by quality, a less costly, lower-end product could be insulting.

Understanding the value of your clients’ time is a vital part to a smooth running business with a steady client base. In my business of selling golf balls, many of my customers are doctors, lawyers and small business owners who understand that time is money. When notified that one of these clients is coming to purchase my products, I prepare for a fast transaction. I always attempt to concisely and succinctly tell them what they are purchasing. One of my repeat customers, Robert, who I see on a bi-weekly basis, works in a professional setting and has very little “dead time” in his schedule. When we do find a time that is convenient for both of us, I am always well prepared upon his arrival, as I know he is coming from the city during his lunch break and will not have much time. I understand customers like Robert appreciate the quick, reliable service I provide and that this type of service is why they keep coming back despite the existence of cheaper competition.

Knowing where and how to market is arguably the single most important aspect of business. You need to understand how far your customers are willing to travel to buy your product. If you own a business that doesn’t ship its product and has a target audience of people within a forty-five minute to one-hour radius, it doesn’t make sense to market any further than that radius. If you are involved in a business that ships, it would make sense to start out advertising in the major cities of the country, and then, through trial-and-error, find out which places are generating the most traffic. After finding out which areas generate the most traffic, you should focus on advertising in just those areas where the return on your marketing dollar is greatest and grow your clientele in an established area. Also, it is important to know what brought new clients to you. Was it a certain advertisement that grabbed people’s attention or a special discount? Answers to these questions can really help you grow a business. There are many services which monitor website traffic. Such services can tell you where your Internet website visitors are geographically located and from what website source they learned about your business. If you are struggling to find an effective place to market your product, simply ask your current customers how they found out about you. If you can notice a pattern and understand where they are coming from, it could potentially help you to more effectively market and move on to the next level.

Knowledge about your customers is critical to the success of your business. If you know who they are, their likes and dislikes, buying patterns, location, etc. it can help immeasurably in making your business both more efficient and profitable.

Evan Ruccolo is an 11th grade student at St. John’s Preparatory School in Danvers, Massachusetts.  He is the proprietor of the Boston Area Golf Group.

YOUNG MONEY: What gave you the idea to start this business?
ANDREW SHURE: I established the company in 2002 because of my appreciation of the connection people share with their pets, and an aspiration to further foster these relationships. The nationwide presence of Shure Pets is coast to coast as a result of our passion for animals, competitive edge, work ethic and dedication to a “listen and learn” philosophy regarding both our Pet Consultants and customers. I have always been intrigued with people’s relationship with our pets, and I believe that Shure Pets empowers pet lovers to be their own boss in a profession they love as well.

YM: What surprised you the most?
AS: The high degree of interest and enthusiasm from the consultants that sign up. I’ve found that people are very interested, passionate, and dedicated to growing their business with Shure Pets and motivated to make as much money as they can through the process, all the while networking and having fun. Traditionally, consultants signing up were interested because of their passion for animals and their pets. In recent years however, they are still just as passionate but this interest has shifted to a different breed of consultants who are really looking to make as much money as they can and be successful with the company, which has been very surprising.

YM: How many employees do you have?
AS: We have five employees within the Shure Pets office that work for our company directly. Since we are a direct sales company, thousands of consultants conduct business through Shure Pets across the country, although they are not direct employees of Shure Pets, they are out their promoting the business and making money through their own endeavors every day.

YM: How do you get your name out there and get customers? What has been your most effective marketing technique or tactic?
AS: Network, network, network! Every time I meet someone new I mention my endeavors and the opportunity to become a Shure Pets consultant. I tell my consultants to carry catalogs with them, so they can give them to new friends, acquaintances, and even people in line at the grocery store. I also utilize Facebook and MySpace to meet new people and tell them about the business, and my consultants do the same. Many of my consultants have their own personal web pages as well. We create an interest virally, providing our consultants with the tools to encourage each to host parties and sponsor others, and as a result, the business keeps growing!

YM: What effect has the recession had on your business?
AS: In the current economic environment, I’ve found that people are seeking new and innovative ways to supplement their income, and direct selling provides people with a platform to make great money while networking and keeping busy. People are turning to direct selling because it can be immediate solution to earn supplemental income in a world where the job market is not secure or consistent. It also gives people the freedom to make their own schedule, with successful direct sellers getting as much out of the experience as they put in. The current economic situation is yielding people to be more adventurous and aggressive with their sales, pushing the envelope to deliver even greater results. Shure Pets offers a unique opportunity bridging the entrepreneur sprit with the growth of the pet category.

The number of independent Shure Pets representatives has increased throughout the last year, with the number of leads increasingly steadily over the course of 2009. More interestingly, the type of consultants signing up has changed drastically over the last year—originally, consultants were often looking for a fun hobby, and now they are really seeking a main or supplementary source of income during these dismal times. People are now asking, “How can I make money and be successful? What do I need to do to excel in direct sales?” And I give my consultants all the tools and insight they need to be successful, particularly telling them to be as active and involved in the community as possible, and they will see great results.

YM: If you could offer one piece of concrete advice to other people, what would it be?
AS: As far as direct sales is specifically concerned, success will follow if you believe in the product you’re selling. Convey a positive attitude, think outside the box when you’re considering who to market to and be honest and forthright. Learn as much as you can about the details and/or ingredients behind the products, have face-to-face conversations with people about the products you’re selling—it’s oftentimes more effective than email.  Touch everyone that you meet in your day—those you least expect to become a customer may very well surprise you.  Be personable, knowledgeable and friendly, and this business will be good to you.

YM: Is there anything else you would like our readers to know?
AS: Overall, becoming involved in direct sales through Shure Pets is a great way to network, meet new people, learn new skills, and prevent gaps on resumes that can turn-off future employers. Consultants can gain valuable work experience that will further their goals in the job search. Through Shure Pets, independent consultants can enjoy the advantages of working in direct sales while searching for a full time-job. This includes a flexible working schedule, gaining valuable sales experience to bolster your resume, and making money while preventing gaps on a resume. It is easy to become involved, and consultants can work on their own schedules and on their own time to make money during the interim. Consultants can take on other freelance jobs and work, have a flexible schedule when job interviews do arise, and work as much as their schedule allows.  

Are you interested in direct sales? For more information, visit: http://www.shurepets.com/

Be Big & Be Small from Obsidian on Vimeo.

In 2005, Smith graduated from the University of Florida in 2005 with a Bachelors of Science in Business Administration with a major in Marketing. He started PuroClean of the Palm Beaches three days after his college graduation. He attended a three week training course at the corporate office followed by one week of field training in Palm Beach County, Florida. When he started his franchise he was the sole employee working out of his townhouse, responsible for all administrative, marketing, and production responsibilities. Now he has  12 employees and a 6,000 square foot facility in West Palm Beach.

YOUNG MONEY: Why did you decide to buy a franchise?

NATHAN SMITH: I decided to purchase a franchise because I worked for a PuroClean in my hometown during high school and my freshman year of college. I saw how successful the owner had been in such a short period of time and did not see why I couldn’t do the same. I eventually started writing many papers and beginning projects regarding starting a franchise not ever thinking I could make it happen directly out of college. However, the more I researched the more feasible it became. The only obstacle was obviously funding which took a lot of begging and support.

YM: Can you tell us about what makes owning a franchise different?

NS: A franchise is a wonderful concept when you are entering a completely new industry or have very little experience in a particular market. You are provided with a nice roadmap and plenty of support from other owners who have been through similar struggles. Depending on the franchise, it can be a wonderful opportunity to fast track through the start up phase of business ownership with few unforeseen headaches.

YM: Why did you decide on this particular franchise?

NS: As I mentioned earlier, I previously worked for a PuroClean franchise in high school and was familiar with the system. I did look into other franchises within the same industry but found PuroClean to be the best value and provided the largest coverage area.

YM: Where did you get the funding for your business or franchise?

NS: I am fortunate to have wonderful parents who took out a second mortgage against their house to help get me started. They gave me a $25,000 loan and I was able to lease a van, equipment, and license fees through programs PuroSystems, Inc. provided. Since 2005, they have increased the requirements to become a franchise and I probably would not have qualified under the current format. I was lucky to have pulled the trigger when I did. I have already paid my parents back and then some which is a wonderful feeling. There is nothing worse that owing your parents $25K.

YM: What was the hardest thing you encountered while starting your business?

NS: The hardest thing I encountered was the mental distractions that come along with being a young business owner. I always refer to it as “head trash.” I was 21 when I started the company and felt no one would take me serious if they knew I owned the business so I created a business card with different titles for any situation. I had a card for Marketing Director, Production Manager, Technician and only occasionally would I have to use the President card. Eventually I realized that people associated very well with my age as I often reminded them of themselves, their son, or their brother and respected the fact that I had taken on so much responsibility at my age. Today I think my age is my biggest asset as most people are willing to give me advice or be a mentor and I am unintimidating to most. Of course experience that life provides would be useful every now and then but I have always succeeded at surrounding myself with very experienced people.

YM: What surprised you the most?

NS: The incredible pace that is necessary was the biggest surprise. I worked multiple jobs in college and graduated in only three years so I thought I was prepared for a heavy workload but had no idea how much work was involved in business ownership. The hardest part is turning it off when you get home at night. For the first year I would sit around daydreaming long into the night trying to find a solution for the problems at work. It did not help that this is an emergency service business that required me to respond to a project within 2 hours, 24 hours per day, 7 days per week, 365 days a year. It is still difficult for me to shut things off sometimes even though I have very competent employees to handle most day to day responsibilities.

YM: What would you do differently?

NS: I would not do anything differently. I feel that many of the mistakes I made were necessary for my learning process. I made several huge errors when it came to hiring the right employees but would not have the same understanding of the true importance of having the right people if I had not learned the hard way. People are so vital to the success or failure of a company. No book or manual can provide you with the ability to feel the “X” factor of an employee who just gets it.

YM: If you could offer one piece of concrete advice to other people, what would it be?

NS: Surround yourselves with good mentors. I run into so many people that think they know everything and are unwilling to look outside the box. I have always sought out many perspectives from different people. I am constantly amazed at how creative some people can be and feel lucky to able to utilize their intelligence. I would not be anywhere close to as successful as I have been if I were not a good listener and more importantly, willing to apply the advice I am given.

YM: Is there anything else you would like our readers to know?

NS: Never underestimate the immense value of young people. The average age of my 12 employees is 28. I have three very experienced managers and many young people working through college or who have just graduated. Almost everyone in society has a degree in something these days and it is very difficult to jump out into the market and get a high paying job, especially in this economy. I find extreme value in a young person who is willing to learn and apply themselves in building a career without the high salary requirements that a more experienced person may require. I am 25 years old and have just received our corporate award for ‘Franchisee of the Year’ out of nearly 300 other franchises in North America. Work ethic is key and it is amazing how much someone with no experience can achieve if they work hard enough for it.

Contact Information:

Nathan Smith, Pres.
PuroClean of the Palm Beaches
2781 Vista Parkway, Suite K5
West Palm Beach, FL 33411
561-775-2196 24/7 Emergency Line
561-681-9412 Office
800-517-4212 Fax
claims@purocleanpb.com

www.purocleanpalmbeach.com

On A Roll - Kidpreneuer from Obsidian on Vimeo.

YOUNG MONEY: Tell us about your company
ELI HOLDER: We started Unblab during the summer of 2008. Initially, we worked on a few different iterations of a webmail service that got a lot of great feedback, but was ultimately unviable from a business perspective. When we got into Launchbox Digital, in the summer of 2009, we were able to shift gears a bit and refocus on the parts of our product that provide the most value. We went from an email company that uses A.I. to an A.I. company whose first offerings solve problems in the email market.

Officially, Unblab builds software that solves the problem of email overload. Using proprietary artificial intelligence technology, our cloud-based software can intelligently predict which emails are most important to any individual email user.

The first product we’re releasing is GTriage, which saves Gmail users time by automatically finding and labeling the important messages within their Gmail inbox. We’re releasing this gradually over the next month or so.

We’re running GTriage as a “pilot product” and soon we’ll transition into our bigger offerings that will bring the benefits of our technology to the enterprise markets.

YM: Tell us about your background (education, etc)
EH: I’m from Greensboro, North Carolina and I graduated from UNC-CH about a year ago as a computer science major. I took the “entrepreneurial plunge” straight out of school… It’s amazing how much I’ve learned since getting out of school. In the first year I split my time between my consulting business and Unblab.

I co-founded Unblab with Anthony Deloso, who I met while I was still in school. Anthony is a sales/marketing genius. He can sell anything. He’s like a slightly-less-evil Steve Jobs.
While I get a kick out of pitching and selling, my responsibilities are more on the geeky side of the business. I take care of the code, the A.I., the model, and anything else that has to do with numbers or technology.

YM: What gave you the idea to start this business?
EH: One of Anthony’s clients from NBC was telling him about how he’d given up on email because he got way too much of it. He said he was switching entirely to Twitter, so he at least wouldn’t have so much to read. After that, Anthony came to me and said “What can we do about this?” So our original idea was to create an email service that would only accept emails that were roughly tweet-sized. Over the last year or so the idea evolved into what we’re currently doing, which is using artificial intelligence to help you cut out the blab in your life.

YM: Where did you get the funding for your business?
EH: Our first two private investors gave us a small amount of seed money to supplement our bootstrapping efforts and then our most recent funding came from Launchbox.
The next round is TBD, but we’re very pleased with the responses we’ve gotten in North Carolina. Besides growing events like CapitalConnects in Greensboro and funds like NC-Idea, there’s a very determined attitude towards building the startup community in NC.

As an example, since we’re still small and flexible, our plan was always to locate the company wherever our biggest investor wants us. We figured it would be somewhere near D.C. or the valley. In the last meeting where I explained this, though, the response I got was “We will make sure you stay in North Carolina”. And that seems to be the general attitude.

YM: What was the hardest thing you encountered while starting your business?
EH: The hardest thing for me is maintaining a healthy work/life balance. I have a tendency to get overly excited about what I’m doing and the next thing I know I’ve forgotten to eat lunch again or the sun is coming (back) up. 

YM: What would you do differently?
EH: One of the biggest questions web startups will continue to face is “Well that’s really cool, but who’s gonna pay for it?” Not that a minor thing like “making money” has stopped other companies from reaching $1B (grin), it’s just something we should have put more focus on earlier. 

YM: Who’s been your biggest influence in starting your business?
EH: Probably my parents. They started their jewelry store in Greensboro (Mark Holder Jeweller) only a year or so before I was born, so I pretty much grew up at the same time their startup was growing. I’m sure I picked up all kinds of lessons by osmosis, but I think the biggest was just their confidence in working for themselves. It made it a lot easier to turn down those first few job offers from “The Man.”

A close second is Tim Booras, who runs Freedom Beverage (also in Greensboro). Tim was one of my first consulting clients after graduating and he’s been a crucial resource for answers and advice ever since. Tim also has a unique style of doing business; it involves a zero-tolerance policy for B.S. and occasionally yelling very loudly into his cell phone. But even if you’re on the other end of the phone, it’s clear that he’s watching out for you. I admire that.

YM: How do you get your name out there and get customers? What has been your most effective marketing technique or tactic?
EH: For a geeky software company, marketing is one of our strong suits, thanks to my partner. What seems to work for us, at least from my perspective, is (1) for Anthony to do one of his awesome designs, and (2) for one of us to show it off. For example, I presented a chopped down version of his slide deck to SocialMatchbox in D.C., we won their “Sticky Pick” award, and that led to all kinds of good PR. 

YM: What effect has the recession had on your business?
EH: It’s put a lot more emphasis on having a clear path to revenue, especially in terms of investor expectations. Overall, we’re happy to have started in a recession. We admit that it would be nice to have enough funding to buy a jet with “Unblab” embroidered on the rugs and curtains. However, I think that the foundations we’re laying now for running lean will pay off in the future in terms of a more responsible corporate ethos.

YM: If you could offer one piece of concrete advice to other people, what would it be?
EH: Approach everything as an experiment. And by “experiment” I don’t mean just occasionally saying “Well let’s see if this works”! I mean come up with a clear hypothesis and a cheap way to measure and test it. This will help you to not only make better decisions, but also to optimize just about everything you do. 

YM: Is there anything else you would like our readers to know?
EH: Unblab is constantly doing new research and studies on how people communicate and interact with each other and we’re always looking out for new people to participate. If you want to help out and get a sneak peak at what we’re working on, send us an email at mad.scientists@unblab.com.

YOUNG MONEY: Tell us about your background.
ADERIA JOHNSON: I graduated from New Jersey City University in May 2008 receiving a B.A. in Television Production and a Minor in Journalism with a 3.0.  During my college experience, I was elected as Editor-in-Chief of Tower Yearbook where I originated thematic ideas to represent New Jersey City University through photography and art. In 2006, I traveled to London to study Media and Cultural Studies at Kingston University. Studying issues relating to the production and consumption of media overseas gave me the opportunity to explore film and television in a different light.  Therefore, I was able to develop my own practical media skills.
YM: Tell us about your company
AJ: The name of my company is PINK LimeLight Productions, an entertainment event planning company.  The company focuses on providing students and organizations with the opportunity to bring unique entertainment experiences to their University.  We specialize in booking plays to tour at Universities giving “off - broadway a whole new meaning.” We book the play as a one day event and help with organizing and promoting while at the same time making students feel more in charge of their on campus activities.  The plays we book always include original cast members, and set design.  It’s a lot of planning but the events are all worth it when students see the outcome.

Future plans of PINK LimeLight Productions include weekly entertainment events that will showcase small and large concerts, guest speakers and DJ’s, book signings and more.  We also plan to expand south and west coast providing travel to ease the expense for the activity budget for colleges.
YM: What gave you the idea to start this business?
AJ: I discovered the idea of PINK LimeLight Productions during the time I served as Editor-in-Chief of Tower Yearbook. As President I wanted to have an event that would bring the Yearbook back in STYLE!!

I always had a love for Theater and came up with the idea to bring the hit play Platanos and Collard Greens, written and produced by David Lamb, to NJCU.  I called up David and after a long process of negotiating contracts he had agreed to bring his play to NJCU. During the pre-event process I was on a team of planning and organizing the event.

YM: Where did you get the funding for your business?
AJ: My funding comes mostly from networking with peers and exchanging business services.  I find it can be a whole lot cheaper and innovative when you work with peers who have fresh ideas and share the same goals.  Other than that, funding comes from my pocketbook.

YM: What was the hardest thing you encountered while starting your business?
AJ: The only hardest thing I have encountered while starting my own business is the paperwork.  I can honestly say that so far I have had great experiences.

YM: What surprised you the most?
AJ: What surprised me the most about PINK LimeLight Productions, is how cooperative colleges have been when trying to bring such a large event on campus.  The paperwork is a process within it’s self but advisors are very willing to fulfill the students’ desires.
YM: How many employees do you have?
AJ: As of right now I have three staff members who help with promoting/marketing, technical riders, and creative aspects of the company.  I am always looking for interns to become apart of a University Street Team.

YM: How do you get your name out there and get customers? What has been your most effective marketing technique or tactic?
AJ: My most effective tactic to gain student’s attention is Facebook, Twitter, email, phone calls, and flyers.

YM: What effect has the recession had on your business?
AJ: The recession has had a positive effect on my company because we provide ways to have events that put the money raised back into the school and organizations that host the event.  Schools feel very positive that they can save with the help of promoting and backstage crew that we provide.

YM: What is the one piece of advice you have for other young entrepreneurs?
AJ: My words of advice would be “never just settle for what’s right now… explore your options whether it’s in entertainment, clothing, teaching, or helping others.”

The New Reality - On A Roll from Obsidian on Vimeo.

YOUNG MONEY: How did you get funding to start your company?
SARAH SCHUPP: I initially funded the company by selling advertising to local businesses that parents would want to know about, such as hotels, restaurants, and local attractions. I later received some help from my parents, grandparents, and a few friends to expand to other markets.

YM: What was the first thing that you did when you decided to start your company?
SS: I think I bought a computer. I needed to be able to layout guides, and I had to switch from a PC to a Mac for the right design software.

YM: How do you come up for your ideas for your print guides?
SS: We actually don’t write the content for our print guides – the university does! We provide them with suggestions, based on what other schools are doing, and through watching the top content on our site, UniversityParent.com.

YM: Do you have guides for specific schools? How does a school go about getting a guide like this?
SS: Yes! We have guides for 99 universities. If a school wants to do a guide with us, it’s a very simple process. It takes us about 12 weeks start-to-finish to produce a guide. They need to provide us the content & photography they’d like in their guide, and then we work with local advertisers, and design the guide.

YM: What are the most common questions that parents have when their children go off to school?
SS: Most of the FAQs on our site - http://www.universityparent.com/faqs - are from parents that need specific information from a school. Parents seem to have a hard time finding university resources, like the academic calendar, or tuition due dates.

YM: What do you think are the three most important things that parents need to know when their child leaves for college?
SS:
•      Be constructively involved. If a student is having trouble in a class, don’t jump on the phone with their professor. Offer ideas to help them, but don’t swoop in and save the day.
•      Encourage your student to seek out available university resources, even before they move-in – such as professors, academic advisors, student groups.
•      Talk about money before your student leaves. Define your expectations – are you planning to give them money? If so, how much? What are the terms? What is acceptable for them to spend on?
YM: What else would you like my readers to know about you and University Parent?
SS: Don’t be afraid to start a company when you’re young! There are so many resources to help you, particularly at your college. This company has meant I truly choose my own adventure – I’ve been able to travel all over to tradeshows & conferences, meet really interesting people, and work with an incredible team. I’m extremely grateful for this opportunity. Even on rough days, I would still rather be an entrepreneur than anything else.
 
Visit University Parent: www.universityparent.com

On A Roll - Jentolov from Obsidian on Vimeo.