BizStratBlog2

CompUSA going out of business

CompUSA has decided to close or sell all their bricks and mortar stores after being sold to an investment firm that intends to liquidate it's assets.  They are attempting to sell stores in major retail markets, and close them in markets that are not profitable.  The local CompUSA in Rochester is already starting it's going out of business sale with discounts of 5-20% on everything in the store.  Popular and expensive products like Apple, HP, Audio Visual etc. are at the lower end of the discount range while products that have typically carried higher margins such as power supplies and computer cases are closer to the higher end of the spectrum.  Since they are selling fixtures I'll assume the local store is to be closed.

So what does this mean for the average consumer?  Well for one thing - if you know EXACLTY what you want and are happy with the manufacturer's warranty on it you can save some dollars buying during their "close-out sale".  No doubt discounts will deepen as the end approaches, and some real bargains can be had (current discounts just bring the price of the retail products down to roughly what you'd pay online for them).  But these discounts come at a cost.  Every receipt is tagged "no refunds, no warranty service" - you cannot trade the item back in if it's the wrong thing or not what you expected.  In addition, there will likely be no one on the other end of the phone to assist you if you have problems installing it or configuring it with your system.

It also means anyone who bought extended warranties from CompUSA directly will likely be out of luck. Once they close their doors - there will be no one left to fix anything.  Similarly if you have an item in for repair - better be sure you get it back within the next week or two - whether it's fixed or not. 

Rochester Rocks: Networking is Alive and Well Here

Life in Rochester is never dull. If you aren't experiencing the excitement, the interactivity, the good food and good connections, then you aren't paying attention. Rochester has so much going for it, it's amazing that anyone can whine about "nothing to do."

For businesses, we have a proponderance of good networking groups and events, on a weekly basis. SCORE always has something important and useful going on - including how to market yourself on the Internet. A worthy seminar, if ever there was one.

Plus, each town has its own Chamber of Commerce and as such, offers monthly programs to help local small businesses be uber successful. If you do nothing else, please look into the Chamber of Commerce in your area. You will find like-minded people eager to connect and learn more about you.

NAWBO, the National Association of Women Business Owners, has a local chapter and its leader this year is the dynamic Jonna Martin of Advance Me Associates. We heard her speak at AWC, yet another women's chapter of a national org, the Association of Women in Communication. She was not only informative and approachable, she was a lot of fun.

Rochester is also home to RAMA, the local chapter of the American Marketing Association.  This well-rounded group of marketing professionals contributes to the local business focus by providing monthly events that rival anything you might attend in bigger cities. Case in point, Monday, October 29th, one of our own, Howie Jacobson, (part of RAMA's super hero marketing series) will be talking on branding and Tavern on the Green. The event is at the Pittsford restaurant, Tastings, and sure to be a memorable one (good food always makes an event more memorable).

And, of course, there's the ever-present and very useful group of small business consultants who meet every Friday, RPCN. RPCN, the Rochester Professional Consultants Network, is focused on small businesses, and has programs that cover financing, marketing, sales, setting up and office, and more. Anyone even thinking about starting their own business as a consultant should join this group. (they also rent out their projector, if your group is in need of one)

This is just the tip of the iceberg that is the Rochester business center. We have technology covered, we have publishing covered, we have women's groups covered, and we have business in general covered. Networking to find new business, to meet new professsionals in your field of business, or to introduce a friend around, is alive and well in Rochester. Just ask anyone involved in the groups listed here - they will likely introduce you to other groups that can help you make your business a success.

Eyes on the future - next meeting

The Small Business Council of Rochester, and Greater Rochester Enterprise have announced the next step in the ongoing Eyes on the Future process.  They identified the following 5 goals as a result of the summit's conclusions:

1. Be an Ambassador -- promote the Rochester Region
2. Be a Matchmaker -- connect businesses with resources to thrive in the Rochester Region
3. Be a Rainmaker - lead initiatives to increase resources for new and established businesses
4. Be Positive - positive thinking and positive action lead to a positive reality
5. Be Proud - proud to live, work and play in the Rochester Region

Are you looking for a way to further champion this mission? To find out how you can help, join GRE and SBC on September 17, 2007.  Their goal is to provide you with greater insight into actions taking place to revitalize the 9-county region and provide you with specific actions you can take to help us grow - concentrating on step one - Be an ambassador.

The "Eyes on the Future - Ambassador Program" meeting will be held on September 17 from 9:30 am to 10:30 am in the HSBC Auditorium at 100 Chestnut Street, Rochester, NY.  The meeting will be right after Greater Rochester Enterprise's board and investor meeting. You're welcome to come early on September 17 and attend GRE's meeting from 8:00 am to 9:30 am.

Please rsvp to Bridget Loyde (Bridget) by September 10.

How can we be both 1st and 93rd at the same time?

In an earlier post I remarked on how Rochester had been rated #1 in the country for quality of life by Expansion Management Magazine - they recommended that companies look at Rochester as a location to move to.  Another recent survey by BizJournals.com ranked Rochster as the 7th worst city in the nation for small businesses.  How can we be both!? The Bizjournals.com evaluated the potential for growth of a small business, rather than overall quality of life.

The special report entitled "Where the best markets are to grow small business" covers the growth potential using a 12 factor evaluation:

• Existing small businesses/100,000 residents
• The 2-year and 5-year change in concentration of small businesses/100,000 residents
• The 2-year and 5-year change in total number of small businesses
• The 2-year and 5-year change in total residents
• The 2-year and 5-year change in private-sector employees
• The 2-year and 5-year change in private-sector payroll
• Average pay per private-sector employee in 2006 dollars

They're looking for cities on the way up - cities that are growing in all these factors.  And Rochester is in fact either shrinking or staying flat in vertually every category over the 2 and 5 year trends.  BizJournals attributes this to our population remaining flat, and our shrinking major industry manufacturing companies (Kodak, Xerox, Delphi) not pumping new capital into Rochester to help it grow.

Read on to the post continuation for a more detailed comparison of our scores

Eyes on The Future followup

This week Greater Rochester Enterprise (GRE) and the Small Business Council (SBC) will announce some conclusions and the next step in the Eyes on the Future program.  In the meantime we'd love to get feedback on the event.  What did you feel was great about Eyes on the Future, what could have been improved?  Leave your comments here.

Things are looking up for Rochester.  Being declared number 1 for quality of life in the country by EM Magazine is a bigger deal than you might think - thousands of business owners looking to locate their businesses read EM Magazine.  In addition, our 70 page insert in US Airlines magazine means thousands of travellers a day are seeing the best of our city and region.

How are you and your company going to take advantage of this momentum?  Are you reaching out to companies outside the region - as an ambassador, a dealmaker, a recruiter? 

Katie Couric: Is she or isn't she?

Can't resist adding my voice to the many touting Katie Couric's failure at CBS.

I wasn't pleased or happy when they announced her addition to the nightly news. She's never been a favorite of mine. I didn't get her "perky" front and I didn't buy into her "I'm just like you!" facade. She's a second rate reporter, as far as I'm concerned - and it was a big, big mistake to give her the anchor job at CBS.

Well, lo and behold! I'm not alone. (and here I was feeling lonely - like I was the only one who saw the 'real' Katie - how wrong could I be!)...

If We Build It, Will They Come? The Restoration of the Downtown Erie Canal

Hundreds of people dining al fresco on a warm summer night. Others are window shopping among rows of galleries and arts and crafts shops. All admire the lights twinkling in the trees lining the waterway.

San Antonio? Providence? Ottawa? No, it could be the downtown Rochester of the future.

In 1823 the Erie Canal ran through downtown under what is now the Rundell Library and crossed over the Genessee River where Broad Street is currently located. But by 1920 the railroads were gaining in popularity for the shipping of large freight, so the canal had to become more competitive. A decision was made to relocate it to the area where the Dinosaur Barbecue is today. Broad Street was reused first as a subway tunnel in 1926 and later, with the support pillars still intact, built over to create a street.

Read the online exclusive at Business Strategies Magazines' website here.

Top Ten Reasons I Live in Rochester

I'm a big fan of HGTV - the cable channel that does all the home makeovers and house hunting shows. Somewhere in that jumbled mix of how to create the perfect kitchen or bathroom, or how to buy the perfect house, is my dream home.

And, it's located right here in Rochester.

Why? Well, let's take a particular show that was on last night called "National Open House" all about getting the most bang for your buck. The question was - where in the U.S. can you get the most house for $250,000, all the way up to $1 million?

I can only tell you that the examples were outstanding and impressive - but no better than homes right here in my hometown. For the low price of $250,000 you can get 1800 square feet in Minnesota, or 1000 square feet in Princeton. OR - which they didn't show, of course, 2500 square feet here, in Rochester. (square footage is estimated, from memory - but, I bet I'm pretty close to accurate)

(Read on for the top ten reasons)

Eyes on the Future committee needs your help

The Eyes on the Future committee needs your help! We're looking to fill out our roster of questions for the Eyes on the Future Conference panelists in June.  We've started the Eyes on the Future Blog.  The purpose of the blog is to begin and CONTINUE the discussion about what we can do personally to assist the Rochester Economy.  We'll be taking the best of the questions and ideas and presenting them to panelists to hear their answers from the point of view of the site selectors, economic development leader, and government officials.

This is your chance to be heard, and don't forget to sign up for the event - it's free, but space is limited and it's going fast.  We've currently distributed almost 1000 tickets, so if you want to be sure you have a seat - be sure to sign up now.

What is Your Hidden Gem in Rochester?

Quick! Think of a hidden gem—a place, perhaps off the beaten path-that you return to as often as you can, recommend to others, (or maybe keep to yourself), that is part of what makes Rochester such a great place to live.

Our June print issue of Business Strategies Magazine is dedicated to many hidden gems of Rochester. This month, here at the office, staffers came up with:

• Magnolia's on Park and Oxford, described as unpretentious and a true treat featuring warm brie and fruit, many beers you've never heard of, and espresso-steaming hot and sweet.
• Rochester rivers and streams for giant brown trout (NY record 33 lbs 2oz)-the only other place on earth to catch these monsters is in South America.
• Richardson's Canal House Terrace, where you can sit outside on the banks of the canal and watch all the boats and ducks go by.
• Lilac Hill Nursery, where Doc Lilac, the original Ted Collins, has gorgeous lilacs in every imaginable variety, across from Casa Larga. Sells fresh-cut bouquets, too.

Post your own hidden gem below, just click "comment."

Ellen Wagner, Editor
Business Strategies Magazine
www.bizstrat.com