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The Minnesota Business Encyclopedia of 2010
A look at 142 of the most notable people, places, companies, topics and trendsaffecting the greater Minnesota business community this year.
By:
Drew Wood (with additional research and reporting by Cory Hertog, and the advice,opinion and counsel of a bevvy of others)
A
agitators
(see also: MOJO Minnesota) When things are going wrong, whether it be with the economy or your favorite sports team,people are going to get ornery. In 2010, we’ve seen plenty of it. The key? That it remainsproductive.
Alvenda, Inc.
Although the Minneapolis-based company has been around since 2008, with a $5 millioninjection of venture capital funding by Split Rock Partners in January, 2010 was its break-out year. The ground-breaking digital retail concept works on the notion that “people shop more when not required to leave their preferred online experience.” Therein, “merchants partner with Alvenda to enable in-stream shopping in Facebook’s news feed, fan pages and via bannerads on thousands of certified publisher websites” (alvenda.com). Put another way, you can now book a flight on Delta, one of Alvenda’s early merchants, entirely through Facebook. Pretty cool.alvenda.com
(http://www.alvenda.com/)
angel tax credit
(see also: economy)Meant to, well, stimulate investment in an economy where it’s waning, it was signed into law on April 1, 2010, and gives qualified investors a tax credit for investing in the early stage of “innovative” businesses. To earn the credit, angel investors must invest at least $10,000 and thecredit is equal to 25 percent of the cash investment.
apps
(see also: revenge of the nerds, smart phones)Not appetizers or the Alan Parsons Project, although we really like both of those things as well, we’re talking about the computer application variety. We champion the kind that make yourlife easier—think banking apps that let you check balances and pay your bills anytime, orsomething like Text’nDrive or Dragon Dictation, both of which enable you to check andrespond to emails and texts using only your voice. But the kind that simply make life moreamusing aren’t so bad either—try Angry Birds and you’ll see what we mean. Best of all? TheTwin Cities has some stellar app developers.
B
bacon
(see also: cupcakes)Consider this listing the beginning of the end of the bacon juggernaut. Although 2009 saw St.Michael-based No Name Steaks’ chocolate and bacon Conan O’Brien receive national acclaim,Social Media Breakfast Minneapolis/St. Paul’s bacon-hungry masses boom, and was arguably bacon’s best year, 2010 marks its last hurrah as even the most outspoken bacon advocates seemto have had their fill. As for the next bacon? Austin product SPAM, perhaps?
bankruptcy
(see also: economy)Sadly, more people and businesses have needed to pay close attention to bankruptcy lawyerJack Prescott’s commercials these days:By March 2010 alone the numbers were this dismal:
Nationally
- 14,607 business filings, 373,541 non-business filings
Minnesota
– 186 business filings, 5,367 non-business filings And the numbers were similarly abysmal in March 2009:
Nationally
– 14,319 business filings, 316,158 non-business filings
Minnesota
– 209 business filings, 4,667 non-business filings(source: U.S. bankruptcy courts)
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Barrie D’Rozario Murphy
A trifecta of advertising veterans band together to slay the coastal [m]ad men from theirMinneapolis perch. Upon doing just that in winning the 2009 Association of Advertising Agencies O’Toole Award for Creative Excellence (small agency), Stuart D’Rozario pens a warcry directed at the agencies that won in the best large and mid-sized categories. BDM placesD’Rozario’s cry as a full-page ad in the New York Times. bdm.net
(http://bdm.net/)
bicycles
Minneapolis is the No. 1 bike city in the country (so says Bicycling magazine) and the estimatedeconomic impact of cycling on the Twin Cities is roughly $315 million per year. But you know this already; we’ve told you.Here are just seven (of the many) reasons why:
a’Velo Business Bike Club
– a corporate biker gang of sorts1.
Erik’s Bike Shop
– one of the largest cycling retailers in the worlderiksbikeshop.com
(http://www.eriksbikeshop.com/ride/)
2.
Handsome Cycles
– an upstart frame designer, just beginning to make waveshandsomecycles.com3.
Hed Wheels
– locally-made, world-class wheelshedcycling.com
(http://hedcycling.com/)
4.
Quality Bicycle Products
– you name it (Surly, Salsa Cycles, All City), they make it; better than just about anyone in the worldqbp.com
(http://qbp.com/)
5.
Nice Ride Minnesota
– the first-of-its-kind public bike share program taking over theTwin Cities and beyondniceridemn.org
(http://www.niceridemn.org/)
6.
Twin Six Alternative Cycling Apparel
– a fresh take on cycling apparel from a coupleformer ad guystwinsix.com
(http://twinsix.com/)
7.
Bite Tech
Did you know that a mouthguard has the potential to store and play music, directly into yourhead? Well, the guys behind Minneapolis-based Bite Tech do. And while the company isn’tquite to that point yet, they’re already converting droves of professional athletes who notice lessfatigue, stress and generally enhanced performance and flexibility simply because they’re wearing a Bite Tech mouthpiece. bitetech.com
(http://www.bitetech.com/wp/)
bloggers
Some of the most important news and opinion feeds of the past year have come from thekeypads of bloggers. Although in a still relatively untamed Internet world there will still becharlatans, it can’t discount the fact that bloggers have become a functioning part of mainstream media. In fact, in September the Associated Press recognized bloggers as a crediblenews source.
BrandLab, The
(see also: OLSON)The Minneapolis-based initiative seeking to “create opportunity in the marketing industry for[high school] students with diverse cultural and socioeconomic backgrounds,” is in its fourth year and perpetually picking up steam.thebrandlab.org
(http://www.thebrandlab.org/)
business ethics
(see also: corporate social responsibility; George, Bill; Philanthrocapitalism)It seems that the decidedly unethical behavior that got us into this mess three years ago, isfinally giving rise to a decidedly more ethical type that just might get us out of it. Here are twolocal reasons why:
Caux Roundtable
– A St. Paul-based global ethics think tank that has been thechampion of such things at the MBA Oath.
Integrated Governance Solutions
– Crusader with a corporate background Bill Bojanlaunched this consultancy to restore trust in big business by restoring, among other things,a legitimate system of checks and balances.
brewing
It's no longer just for garages:
Brau Brothers Brewing Co.
braubrothersbrewing.com
(http://braubrothersbrewing.com/)
Flat Earth Brewing Co.
(pictured above)
flatearthbrewing.com
(http://flatearthbrewing.com/)
The Minnesota Business Encyclopedia of 2010 | Minnesota Business Mag...http://www.minnesotabusiness.com/minnesota-business-encyclopedia-20102 of 1412/15/2010 4:34 PM
The Four Firkins
(store)thefourfirkins.com
(http://thefourfirkins.com/)
Fulton Beer
fultonbeer.com
(http://fultonbeer.com/)
Lift Bridge Beer Co.
liftbridgebrewery.com
(http://www.liftbridgebrewery.com/)
Surly Brewing Co.
surlybrewing.com
(http://surlybrewing.com/)
Wine Thief and Ale Jail
(store) winethief.net
(http://winethief.net/#/home)
BYOB
(see also: millennials)Build Your Own Brand. A concept popular with young professionals, the premise of BYOB issimple and a tad narcissistic: If you’re not building awareness about the brand that is you, then you’re never going to be able to leave your current job behind. To those interested in buildingtheir own brand, we offer you some advice. First—and least preferable—if you can’t resistBYOB, don’t let your employer know you’re doing it, since it’s pretty much telling them you’relooking out for you, not them. Second—and more preferable—don’t focus on BYOB at all. Do your job well, work hard, be respectful, be innovative and your brand will be built for you.
C
Carmichael Lynch
The agency that claims to have dumped one of the most recognizable brands on theplanet—and their client of more than 30 years—Harley Davidson.carmichaellynch.com
(http://carmichaellynch.com/)
Catalyst Community Partners
(see also: corporate social responsibility)Out to stimulate economic growth and revitalize Minneapolis one down-trodden corridor at atime, commercial real estate developer Stuart Ackerberg’s nonprofit Catalyst Community Partners completed their North Minneapolis keystone project, the Five Points Building, new home to KMOJ radio station, in March.catalystcommunitypartners.org
(http://catalystcommunitypartners.org/)
Chrysler
Among the hardest hit of American car manufactures was Chrysler, and the shockwaves werefelt mightily in Minnesota. Although 17 local dealerships were originally slated to close, threemanaged to avoid getting the axe.
corporate social responsibility
(see also: business ethics; Catalyst Community Partners, George, Bill; Philanthrocapitalism)Corporate self-regulation integrated into a business model; idea being that if a business forcesitself to support laws, ethical standards and international norms, the business would, in turn, be mindful of the impact of its activities on the environment, consumers, employees,communities, stakeholders and members of the public sphere. It would thus eliminate practicesthat might harm the public sphere, regardless of legality. The CSR-minded business’s bottomline? People. Planet. Profit. And you know what? There are some serious Minnesota contributors to the CSR conversation:Jacquie Berglund’s nonprofit beer company Finnegan’s Irish Amber, Bill George andHaberman Media and Marketing, to name a few.
coworking
For people and companies not keen on leasing office space but sick of working from home orthe coffee shop, coworking is the perfect solution. The idea is you pay a membership fee to useall or select portions of a third-party space, complete with all the trappings—andcamaraderie—of the real thing. Try these two local coworking pioneers:
CoCo
cocomsp.com
(http://cocomsp.com/)
The 3rd Place
the3rdplace.ning.com
(http://the3rdplace.ning.com/)
CRAVE Minneapolis
A local collaborative of women business owners finding power and inspiration in their collectivesuccess stories.thecravecompany.com/minneapolis
(http://thecravecompany.com/minneapolis/)
cupcakes
(see also: bacon)Like bacon, cupcakes have enjoyed a much-ballyhooed, if not unexpected, rise to prominence in2010, and you can see it in the local business landscape with cupcake stands popping up fasterthan whack-a-moles: Cake Eater Bakery, Franklin Street Bakery, Cocoa and Fig, and Cupcakeare just a few from around the metro. However, like bacon, we think that the cupcake train ispulling out of the station. The next cupcake? Why, doughnuts, of course.
D
Denali Marketing
(see also: OLSON)Formerly the biggest loyalty marketing firm in town. Now, the reason that OLSON is the biggestagency in town.olsondenali.com
(http://www.olsondenali.com/index.cfm)
digital divide
The term we’ve given to the growing rift between people in business and education who aresavvy in the ever-evolving wave of digital tools and trends, and those who are not. For the sakeof your own relevance, we think it’s important that you pay mind to said divide and make sure you’re on the right side of it. So, which side are you on?
Duluth
(see also: Dynamic Structural Steel) A town that’s not just for tourists anymore.
The Minnesota Business Encyclopedia of 2010 | Minnesota Business Mag...http://www.minnesotabusiness.com/minnesota-business-encyclopedia-20103 of 1412/15/2010 4:34 PM
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