Turning A Hobby Into A Global Brand

An interview with Tim and Nina Zagat, founders of Zagat Survey.


Tim and Nina Zagat (left) with Robert Reiss

In June 2006, Jeff Howe of Wired magazine coined the term “crowdsourcing.” But the concept it describes, gathering insight and wisdom from the broad populace and using it to build a powerful communications medium, was born more than two decades earlier–at a dinner party. There a husband and wife decided to begin drawing on all their friends to rate restaurants, in the belief that the opinions of consumers could be more accurate than those of a few professional critics. This was a hobby, but it ultimately grew into one of the world’s most trusted brands, Zagat Survey.

They started in 1979, and their first survey rated 121 New York restaurants, with 200 surveyors initiating their signature 30-point rating system. Today more than 350,000 surveyors in 100 countries rate restaurants, hotels, nightlife, shopping, golf and leisure activities for Zagat.

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The TightRope Walker

Vikram Akula is a rare microfinance entrepreneur who tries to bridge the gap between profits and compassion.

VIKRAM AKULA

HE IS a microfinance entrepreneur and founder of SKS.

WHAT SPURRED HIM ON: The inability of traditional microfinance firms to scale up and help more people.

NEXT BIG THING: Aiming to make SKS the largest MFI in the world and planning a big bang IPO in 2010.

In 1994, 26-year-old Vikram Akula was disbursing loans to villagers in remote areas of Andhra Pradesh state on behalf of a voluntary group. One day a woman from a village not covered by the loan scheme approached him. She pleaded with him to extend the programme to her village. But his organization didn’t have the resources to do that. Akula gave her the bad news. The woman looked Akula in the eyes and asked, ?Am I not poor too?

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Have You Developed a Year-End Tax Strategy? Time Is Running Out

As 2009 closes in just a few days, there are some important tax changes that will help you save money and prepare to file your 2009 tax return in the spring. We have summarized many of the major changes in our blog post, “Tax Planning Strategies & Year-End Considerations” in November, and since it has been one of our most popular posts, we’ve reposted it here and encourage you to review this information again before starting the process for your 2009 tax return.

As the end of the year approaches, now is the time to evaluate your business and your personal tax strategies. By taking the time to prepare now, using this checklist, you will be able to develop a clearer picture of what your tax picture will look like while there’s still time to maximize current-year savings.

Retirement Planning

Look to maximize tax-deductible retirement plan contributions. The fol

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Noobpreneur.com’s New Year Resolution for 2010

We have done with everything we could to render Noobpreneur.com as a reputable resource for small business owners and entrepreneurs, and so far, we are all smiles – Many thanks for you, the visitors and Noobpreneur Business Bloggers.

Noobpreneur.com is getting ready for 2010, and we would like to share our New Year Resolution to you.

Noobpreneur.com in 2009

But first, to review 2009 – we have done some significant changes that ultimately place us to a better place and a clearer view on the topic of small business and entrepreneurship.

We have changed the layout and design twice this year, trying to look for a better way to present information to our visitors.

We have grown out Noobpreneur Business Blogger team roster to a total of 8 active members to date, transforming Noobpreneur Business Blog from a one-man show business blog into a multi-author business blog covering small business and entrepreneurship topics from 8 different angles.

Ultimately, Noobpreneur.com is proud to exclaim that we are now syndicated in Google News – Something that can only be done through the provision of high quality content and reorganisation process that is largely triggered by our Business Bloggers.

There is no time to procrastinate – we have laid out a plan for 2010 as our New Year Resolution.

Noobpreneur.com Master Plan for 2010

Here is the big picture of our plan for next year:

We will continue to persuade more business bloggers to join the roster – We expect 20 independent, multi-discipline, multi-background, Business Bloggers in our Noobpreneur Business Blogger team before the end of 2010 (‘care to join our blogging team?) We will develop products and services that will benefit small business owners and entrepreneurs more than today (a hint: an online business collaboration tool is in priority planning stage.) We will strategically partner with other business-related content, products and services providers to offer value to you that can only be accessed through Noobpreneur.com. We focus on Read more…

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The EPA Tackles Greenhouse Gas

But the reductions won’t come cheap.

The Environmental Protection Agency announced earlier this month that greenhouse gases “threaten the public health and welfare,” and are thus subject to inflexible command-and-control regulations under existing law. The move could pressure Congress to pass a new law containing a cap-and-trade program for greenhouse gases. The EPA should have no illusions about the economic costs that will result from reducing greenhouse gases with these regulations.

Arguing in favor of cap-and-trade, Paul Krugman recently wrote that “cutting greenhouse gas emissions is affordable.” He reasons, correctly, that there will be cost savings stemming from the financial incentives for emission reductions provided by a cap-and-trade system relative to command-and-control. Cap-and-trade is relatively effective at keeping costs down to the extent that it relies on decentralized market forces.

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Dollar gains on consumer confidence

The Conference Board, a New York-based research group, said its consumer confidence index rose to 52.9 in December, only slightly below the 53 level economists expected.

The S&P/Case Shiller report on home prices was also released Tuesday, showing that prices in October flattened after four consecutive months of gains.

“This morning’s economic reports have really failed to ignite any sort of fireworks,” Lien said. “It’s going to be quiet trading for the rest of the day, but the dollar may recuperate some of its earlier losses.”

On Monday, the dollar ended the trading day down against the British pound and the euro, and up versus the yen.

Lien predicts the dollar will rise in January as investors “re-weigh their exposure to U.S. investments” at the beginning of the year.

“Further down the line, at the beginning of the second quarter, we may see the dollar weaken again,” Lien said. “There are still a lot of problems in the U.S.

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