|Small Business Guide - Small Business Resources
(Add to Favorites | View All Articles | Resource Directory)
How the Humble Ice Cube Made Business History
Gather round while I tell you the story of Kennebec Ice. It's a story full of valuable business lessons even though it happened long ago.
Once upon a time, before the invention of modern refrigeration, folks kept their food cold by using large blocks of ice. That ice was readily available to residents of my state, Maine.
(For my friends in other countries, Maine is the northeastern-most state, bordered by New Hampshire, Canada, and the Atlantic Ocean. We have very cold winters and the ice freezes deep into lakes and rivers.)
Now, residents of Maine didn't think too much about ice other than for their own use. Ice was just a part of life, no big deal. During the economic depression that followed the Civil War, ship's captains in Maine had a hard time finding enough cargo to fill their ships. To compensate for the lack of cargo the ship's crew substituted large blocks of Maine ice to act as ballast. The ice was covered with sawdust to help slow the melting process. This need for ballast created a new market for ice.
When the ships arrived in tropics and sub-tropics, it was discovered that the ice being used as ballast was a valuable product to the residents of those regions. They were willing to pay for that ice. Cutting and shipping ice to other parts of the world became an industry for Maine. This new market saw ice being shipped to China, India, Cuba,and many other places.
Now, somewhere along the way, through some clever promotion, the ice harvested from the Kennebec River in Maine became known as "the best ice". Consumers thought it was higher in purity and health benefits.
There are many rivers and lakes in Maine, all of them produce ice. There really wasn't much difference at the time, all the lakes and rivers were clean enough to drink from, but the perception was that Kennebec Ice was the best. People were willing to pay more to get it.
Because Kennebec Ice was the best, ice companies all over the world started referring to their ice as "Kennebec Ice" even though their ice might come from Kansas or New York. Kennebec Ice was the gold standard for ice.
And then along came modern refrigeration. The ice industry died out and Maine residents, who are always resourceful, moved on to other industries to support their families.
So, here are our modern day business lessons from the story of Kennebec Ice.
1. One product can have many markets and uses, even a product as simple as frozen water.
2. The things we take for granted may be valuable to others.
3. Becoming the gold standard increases business and allows you to charge a higher price.
4. It's important to protect your brand to keep it from being cheapened and compromised by others.
5. Watch for trends that tell you it's time to get out of the ice business and develop new products or services.
Of course, the ice business is still alive and well in the modern world, driven by a new industry--tourism and recreation. So, next time you fill your cooler,think of the humble ice cube and the proud part it played in creating business history.
Caroline Jordan, MBA delivers icy cold business advice in a frosted glass to self employed professionals in the desert-parched land of business ownership. For more tips and strategies to create a successful, thirst quenching business, attract a deep pool of customers you enjoy, increase your cash flow river, and develop additional streams of refreshing revenue visit http://www.TheJordanResult.com
Decline of small business hurts recovery, jobs growth
Small Biz in a Digital Age: Analytics - Know Your Options - GoLocal Worcester
Pair launch equity crowdfunding platform for small-biz owners - Crain's Detroit Business
Small Biz Breakfast on Changing Technology Trends - HamletHub
Investors leading surge on small-biz loans - Insurance News Net
Samuel Adams Brewing the American Dream Hosts Speed Coaching for Phoenix's Small Business Community
Lt. Governor on pro-business legislation: 'We're on the cusp of changing our ... - Albuquerque Business First
How to Integrate Yourself in Someone Elses Business
When do you need to get more involved with the day to day activities of your business partner?The best business relationship you can have is one where the client does not know whether you are a contractor or whether you are an employee. Working alongside the client, you are the one that offers solutions to problems.
Most Franchises Are Small Home Businesses
Many of our nations 400,000 franchisees run their businesses out of their homes and therefore their home addresses and phone numbers are listed in the Unifrom Franchsie Offering Circular's, attachments. Uniform Franchise Circulars, UFOC, are for franchise buyers and they explain the investment involved.
Should I Franchise or Not?
A reader of one of my online sessions asked should he franchise his business or not. He had set up a service business and was getting ready to expand and wanted to know if franchising was a good potential strategy for this.
Increase Profits With a Small Investment of Time and No Money
The less a business pays for goods and services the more profit that business generates. How does a small business with limited purchasing power get access to lower cost goods and services? The answer is simple.
The Perfect Mission Statement
One way to determine your companies mission statement is based on a general overview of the company. Some important questions are asked like: Why does the company exist and what kind of business is it in? Is there a particular market or niche that it will concentrate upon? How will the company be distinctive in its business methods? Once these questions are answered, the focus moves to the accomplishment of these broadly expressed objectives.
Remove your negative thinking, change your results
Owning a business is a challenging endeavor. If you're like many novice small business owners, you've taken numerous risks with your time and your money, only to see all of your efforts producing little or no result.
Comparing Boston Area for a mobile car wash business
The Boston suburbs seem to be rich with possible locations to wash cars and a mobile car wash would be well served in that market. The customers have good jobs, high paying salaries and indeed demand such personal car washing services.
How To Ruin Your Business
If you're like the rest of us, you've spent a lot of time trying different things to make your online business come together. There are countless methods of conducting a viable marketing career, but there are also as many ways to destroy one as well.
Small Businesses With Work Trucks; A Warning
If you are a non-operator owner of many work trucks, you should keep your business credit card with you not leave it in one of the trucks. You should not issue them to employees without strict guidlines.
Reaping the Rewards of Cost Cutting
In these days of insecurity and uncertain futures, the tendency is to manage for survival but the smart business leaders are actively hunting for profits.And they are doing this without launching costly new initiatives or major capital investments.
Small Businesses with BIG NAMES: Protect Your Trademarks and Reap the Rewards
You're a small business owner with a hot new product or service and you're deciding what to name it. Perhaps you've even hired a graphic designer to create a flashy logo to go with it.
Cashing In Your Chips & Pastures New
No, I'm not talking about gambling or dairy cows - although business is often referred to as a gamble, I'm referring to your exit strategy. That time when you decide to 'play no more' and go off and practise your golf swing.
Family Business and Conflicts
What is a Family Business? A family business is basically any business in which the majority of the ownership or control lies within a family. Involvement of members of family in a business can bring with it its own complexities because the line between the business system is sometimes separated by a thin line from the family system.
Banking and Company Credit Card Policies for Small Business
Does your small business have a banking and credit card policy? If not, perhaps you might wish to think on it. Developing such policies and procedures is not a difficult task.
A business startup obstacle you may not expect
The bad things starts with the letter 'O'?.like Obstacles, Obstruction, Obscene?.
Don't become a statistic - Get business advice on a regular basis
It's a commonly quoted statistic: 80% of all small businesses will fail within the first five years of running. In fact, in Internet marketing, this figure can be as high as 95%.
Awning Cleaning Business Case Study: Entrepreneurship 101
It is most fascinating to study how entrepreneurs spot opportunity in the market place. "My name is Lance Winslow and I am a serial entrepreneur, I admit I am addicted and need help.
Boston Market; Mobile Auto Detailing
Boston itself covers 50 square miles of concrete and traffic, well city limits actually exactly 46 square miles, the entire metro area can be and is often over stated at 1100 square miles, but more realistically about 380 in our humble opinion. And you know some of that is water.
If you have to do everything yourself, you're not doing it right
The air in my client's office nearly crackled with her irritation. A scheduling snafu had left a client without important services.
How to Define Business Objectives
Why does a good business relationship rely on having some common business objectives?As you attend networking events, you will gradually find ways that make it easy for you to mingle and be heard. Your message will need to be clear, focused and consistent each time.
|Home | Site Map | Privacy Statement | More Articles|