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Being in business means you need to keep books, for many that is a challenging place, almost like being between a rock and a hard place. Part of our Family Office suite of services is bookkeeping. Connect with us and let our team take care of this for you. 

Tim

 

 

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  •  

    TOGETHER WITH

     

    Happy Thursday, people. Today, we’re wishing Larry Page and Sergey Brin luck in their new role as... empty nesters? In a note announcing their plans to step down, the Google founders wrote, “if the company was a person, it would be a young adult of 21 and it would be time to leave the roost.” Gee whiz, they grow up so fast... Today: 

    ·         Amish entrepreneurs don’t need internet to make a dollar

    ·         Bakers are making their loaves of bread smaller

    ·         Helicopter commuting isn’t exactly blue collar

    Have a great day.

     
     
     
     

    What can we learn about entrepreneurship from the Amish?

    Burgeoning Bezoses, take note: Ruthlessness and cunning aren’t the only attributes that will get you ahead. As The Guardian reports, Amish and Mennonite business owners stay on top of trends while remaining true to their values.

    Going from ag to cultural 

    Mennonite and Amish community members are known for low-tech -- or no-tech -- lifestyles. They often dress in modest clothes and drive horses and buggies. Some operate farms that have been in their families for generations. 

    But staying in business means adapting with the times, and the foodie movement has been a boon to some.

    In Kutztown, Pennsylvania, 3 men transformed a 200-year-old barn into a contemporary farmers’ market where church members sell locally grown produce as well as artisanal items like handcrafted pastries, bourbon-flavored honey, and garlic-flavored cheese curds. Fancy a cappuccino? They’re made with milk produced on nearby dairy farms.  

    But there’s more to success than cinnamon buns

    A sociologist who studies Amish communities found that 95% of new Amish businesses are still going strong after hitting the 5-year mark. That’s remarkable given only half of startups usually make it that long. 

    But Amish values lend themselves to business practices that contribute to a high success rate. These include:

    ·         Camaraderie with competition. The idea of trade secrets isn’t pervasive among the Amish. One farmer will gladly teach methods to another farmer… even a direct competitor.

    ·         Flexibility with finances. Community members might make loans among themselves or adjust asking prices to accommodate buyers who aren’t flush with cash. 

    Investment in hyper-local economies. Community members will go out of their way to support one another and their local businesses. And because many Amish don’t drive, it’s especially important to have a strong local economy with ample services and products.

           

    This week's Signal

     
     

    Custom mechanical keyboard 

    Tired of your butterfly keys falling off? Perhaps you can join the 165k people searching for mechanical keyboards each month. An entire subculture of meetups, kickstarters, and conferences have been built around mechanical keyboards -- and there’s plenty of room for niche entrants to design their own versions.

    See more

     
     

    High-flying startups are offering Uber for… flying helicopters over Ubers

    Ever fantasize about commuting to work on a lavish helicopter, a la Succession’s Logan Roy? 

    Several companies are attempting to make beating traffic (by flying over it) a reality, according to a report in the San Francisco Chronicle

    Most of the flight-share innovation has centered on San Francisco’s Bay Area -- where egregious congestion (which grew by 60% from 2010-16) makes even short-distance commutes hours-long headaches -- but expansions to several other metropolitan areas are in the works. 

    So, who are the main players?  

    The biggest provider is BlackBird, an app that connects pilots and planes directly to commuters on an on-demand basis for trips in California at prices as low as $69, without the hassle of security lines. The company has already raised $16m. 

    Another startup called Voom, which is owned by aviation giant Airbus, specializes in easing short-distance commutes, with service from SFO to Napa (25 minutes), San Jose (20 minutes), and Oakland (15 minutes). At $200-$270 per trip, pricing remains high for anyone without stock options, but Voom’s speed and range are impressive. 

    And in 2023, Uber Elevate will launch a short-haul service (the marketing video makes it look cooler than the Jetsons) in Dallas, Los Angeles, and Melbourne.

    But there are still significant challenges to scaling up

    ·         First, there’s the noise. Activist groups, like Residents Opposed to Airport Racket (ROAR), will lobby against increased noise pollution, a proven menace to public health. 

    ·         Then, there are concerns about safety. Ride-sharing companies haven’t done a stellar job hiring drivers. Will users (or the FAA) trust non-experts to hire pilots?  

    ·         Finally, they’ve also got to think about emissions. Environmentally conscious consumers will opt out for carpooling, electric vehicles, or public transit. But electric planes, like the ones Uber Elevate is developing, could cancel out these concerns.

    Until 2023, enjoy rush hour.

           

    SPONSORED

    Still in a turkey coma?

    Let’s be honest, working during the holiday season is H-A-R-D

    The weeks between Thanksgiving and New Years are packed with so much eating, drinking, and merriment that hittin’ the ol’ keyboard can feel less than exciting.

    Why not make things easier for yourself?

    Just use Copper, the CRM made for Google

    As a CRM designed specifically for G Suite, Copper easily syncs with Gmail and lets you do everything -- from within your inbox. 

    Imagine managing leads and deals from the same place you read and write emails. Or seeing all your business info in one place. Or simply being as organized as a multinational corporation, even though your headcount is a fraction of theirs. 

    Copper is the kind of CRM that helps small businesses become big ones -- and makes the holidaze a bit easier to manage.

    Try Copper →

     

    Smaller loaves are coming to a bread aisle near you

    The bread eaters have spoken, and they want smaller portions. The Wall Street Journal reports that bakers are responding to new data about American bread preferences and designing smaller products: half loaves, more thinly sliced. 

    Why would consumers prefer less of something delicious? 

    After decades of campaigns against food waste by environmentalists, consumers are finally beginning to worry about throwing out stale bread. 

    According to a survey by the American Bakers Association, 75% of Generation Z and millennial consumers (ages 18 to 41) surveyed don’t enjoy putting bread in the trash can (our team is actively investigating the other 25%). More than half said they would buy more bread if there were smaller options. 

    Dietary concerns about calories, carbs, and gluten have also contributed to demand for smaller loaves. And interest in smaller bread is strong among people who live alone -- a demographic that has begun to wield major power over other markets, including those for large appliances and paper goods. 

    It turns out that people are weird when it comes to bread

    Here are some other curious, generational bread stats:

    ·         27% (!) of younger millennials freeze their bread (the highest percentage of any generation). 

    ·         65% of Gen X-ers store their bread at room temperature, meaning Gen X also has the highest percentage of normal human beings.

           

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