fbpx
Connect with us

Business

Seth Berger Leads Sixers Innovation Lab In Camden

Published

on

Seth Berger

Entrepreneurs are flooding into Camden, including Seth Berger, University of Pennsylvania and Wharton School of Business alumni, best known as the Founder and former CEO of AND1. Seth Berger is managing the Sixers Innovation Lab Crafted by Kimball, which is housed in the Philadelphia 76ers Training Complex Business Operations Facility. Seth Berger has years of experience as an entrepreneur includes acting as a consultant and CEO in the gaming, technology and sports industry over the past decade. With a life long career in sports, Seth Berger provides opportunities for companies to grow using resources that are invaluable to business.

The Sixers Innovation Lab supports startups by providing individualized, industry-leading consulting and investment opportunities. Companies that are selected by Seth Berger and the Innovation Lab team will receive office space at the Innovation Lab, access to industry leaders, third-party branding, marketing and legal services, as well as free meals and housing in the Philadelphia area. There will also be unique opportunities to pitch to industry-leading investors and venture capitalists. Seth Berger is overseeing each startup that enters the facility along with advisors from StubHub, DraftKings, Rothman Institute, First Round Capital, Maven Creative and more.

With a unique set of skills and lifelong achievements in the sports industry, Seth Berger is passing on his knowledge on growing your company into something incredible. Seth Berger tells us about what it takes to be an entrepreneur today, making a lasting impression in business, and how you can be a part of the Sixers Innovation Lab.

Seth Berger

Describe your career.

I started a business in grad school at 25, which is now known as AND 1. It started as a T-shirt company in NYC, where I am from. Then, in seven years it grew to a basketball apparel, sports illustrated company. I ran two companies at that time. In the middle of AND1, I also ran hoopstv.com and made all of the mistakes I could. Made a couple of deals with retailers, but ultimately sold AND 1 in 2005 to American Sporting Goods. My kids at that time were six, three, and one years old. The goal then was to just be super dad, take them to school, and to see them everyday. I had part time jobs, I didn’t want a full position. I managed a few companies along the way but, my career basically had three parts: running AND 1, coaching basketball at Westtown School, an independent international school, and consulting and advising at Innovation Lab. Working at Innovation Lab combined all of my skills as a coach, consultant, and CEO. As a coach, it helped me become a better consultant and CEO to help identify and recruit really talented CEOs.

As an entrepreneur, what are some surprises that come your way?

Whether I was running AND1 or the Innovation Lab, there were always surprises. I’ve never run anything before, so doing AND 1 and the Lab were the biggest surprises. I was never really good in school, I was only a good test taker. Memorization is the only skill I had and my biggest strength is admitting that I don’t know and I need help. That’s how I got so far. If you’re always curious, you’ll always grow.

From ‘93-’05, old businesses had to make a lot of guesses when it came to prices and consumers. Nowadays, with technology, you can test everything. You can have consumers telling you a price, likings, and etc.

I’m also really surprised with how fast things move now. Businesses would take three-five years to grow, now it can be successful in three-six months.

What are some of the risks you took to get to where you are?

When I decided to start AND 1, I was maxed out of student loans and lived off of five Visas. If AND 1 didn’t work out, the alternative was to take on a job that I didn’t like and find incredibly boring, nothing I looked forward to. I took a risk as in if it didn’t work, I was going to be really broke, but the thing was, I was broke anyway so I didn’t really care. The actual risk or the biggest risk for anyone is time. Time is your most valuable resource. My risk here at the innovation lab is can I help manage five to six companies at the same. I have the mentality of, ‘I think it’ll work.’ But if I spend three to five years here and it doesn’t work, it’ll be a really big waste of time. As an entrepreneur though, you’re comfortable with mistakes.

How do you make a lasting impression when you get into a new business?

By offering significant day to day support to our companies. If all of what you want is a check and a network, then there are lots of places to get that. In the Bay Area especially, there are tons of them but that’s not us. If you want help to figure out your business, what you do on a day to day basis or annual basis, then that’s what we provide.

What recommendations do you have to aspiring business owners?

Know your consumer really well and focus on them, one of the biggest mistakes in entrepreneurship is people who say, ‘I don’t want to focus on consumers in our market because then my business won’t be really big.’ I say to them, ‘Build a small business before you have a big business, it shows you already have a business, then continue to build and expand.’  With all of our companies, we end the day with these questions: Who’s going to watch our videos? Who’s going to use our service, buy our products and be as specific as possible with those answers? 

Entrepreneurs who are thinking about starting versus entrepreneurs who have already started. Those who haven’t started aren’t afraid of failing because everyone fails eventually. It’s actually because they don’t know how to take charge. When you are your own CEO, it’s like getting a blank piece of paper for an essay but with no question. Everything is already set, what time you go into the office, the dress code, etc. with your business, no one is there to tell you. Don’t be afraid to get help.

What are some benefits the 76ers Innovation lab offer that can’t be found anywhere else?

I think Rhyan Truett, Innovation Lab Director of Operations, and I make a great team, along with Philadelphia 76ers CEO Scott O’Neil, and other people on our team can be really insightful for your business. We also offer free housing, free food, and free office space for about three months. In which there’s also access to free snacks and the gym. Also, we have a marketing agreement with strategy branding for companies, possible free legal services, and lastly, you can play basketball here.

How does startup apply for the opportunity to pitch?

Interested applicants can submit an application form through www.sixersinnovationlab.com.

What industries have you seen so far?

Everything, from cyber security, foot apparel, you name it. Our owner has a really broad network. If we can add value to your company then be let’s be a part, but if we can’t help you then it doesn’t make sense to apply.

Tips for entrepreneurs who are interested in being at Lab?

Always be willing to learn, companies who are in here are different from when they first came in. Be interested in improving. Companies who just need a check are not for us. There are three things we look for: first is what you take in, how smart, how focused, and how intense you are. Your team is a major aspect. For me, a team is the most important. I have members who studied in Wharton and are way smarter. Second, is the idea. Something you can protect and is unique. Lastly, how can we help you? If the company already had parts one and two, then how can we support you.

What is the piece of advice that helped you throughout your career?

In the fall of ‘93, when we were selling team shorts. I met Michael who owned a record company. He started his business by doing 45s. Back in the day, they used to do single records of songs of TV show songs like The Flinstones, The Munsters and all of the sudden his business blew up. He asked me, ‘Why do you want to be in business? Why do you wanna make a difference in kids’ lives?’ I said, ‘I think this business can reach kids and I can make a little money on the way, I also get to spend time with friends.’ He assured me then that you’re in business to make money, you’re not in it for your ego, you’re not in business to make friends, and you’re not in business to change who you are. And he was right. For awhile we thought we served kids as opposed to our consumers. When I got with our accounts, I asked, am I going to make enough and do I need more? If I bring in people who are around me and they get a piece of what I have or more, it’s okay. If you’re giving them pieces of yours, then they’ll eventually give more back to you. If you’re not giving your team a piece and think you have to be more in control, then it won’t work out. Like I said before, teamwork is the most important aspect of a business. Be willing to give.

Jie writes about influencers and startups in various industries. She is a designer turned techie, and when she is not writing, you can find her in her workshop working on her next big project.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Failure to Launch: Why Pixar’s Lightyear is a Box Office Dud

Published

on

This summer’s movie season is now in full swing, and turnout is strong. Franchise films are facing a decline in dominance, but still hold a significant portion of the box office. In addition, original hits have proven that fresh storytelling can still break through.

Of course, challenges are there. With streaming habits, changing audience expectations, and the unpredictability of box office trends, studios are being kept on their toes. But one thing has remained constant: Pixar’s tentpole releases reliably soar past the billion-dollar mark.

Or so we thought.

pixar's lightyear
Image Credit: Pixar Wiki

Just before the pandemic, Pixar crossed a billion with Toy Story 4, one year after crushing it with Incredibles 2. Now, after a string of Disney+ releases, they’ve taken another big swing with the Toy Story spinoff Lightyear

Then, bullish projections had Lightyear nearing a nine-figure opening weekend and cruising to $500m from there. Instead, the family-friendly tentpole opened second, failing to surpass a plummeting Jurassic World Dominion.

Why did Lightyear flop?

You probably seen the headline: Lightyear bombs. Disappointing on its face, but the ramifications go far beyond the potential for a Woody’s Roundup spinoff film.

The past couple Pixar films (Soul, Luca, Turning Red) released exclusively on Disney+. Many maligned the shafting of these exciting animated films. It’s especially upsetting for Turning Red, which could’ve easily been one of 2022’s runaway box office hits.

Lightyear is the test. A new direction for Pixar’s biggest franchise. The most means-tested Pixar film gets the theatrical boost, and if it does well, the other movies follow. For this reason, it is a big deal that Lightyear flopped. So, what happened?

pixar's lightyear
Image Credit: Pixar Wiki

If you frequent Facebook, you’ve no doubt seen the “get woke go broke” narrative. A gay kiss, which was removed from the film and added back after Disney’s March “Don’t Say Gay” controversy, has gotten the film banned in several countries. Domestic concern trolls like Ben Shapiro, enamored by Saudi Arabia’s officially-sanctioned bigotry, ratcheted up scare pieces on the film in the past week.

In today’s new heights of parental hysteria, it wouldn’t surprise me if a few thousand families stayed home due to right-wing fearmongering. Still, history doesn’t really support the notion that this would have a substantial impact on box office. Multiverse of Madness made big bank with equally-major LGBTQ+ characters. If anything, it could be said that these films’ lack of a Chinese release upsets their box office returns, but that doesn’t explain a poor opening weekend.

buzz lightyear
Buzz Lightyear in Toy Story 2

Still others have pointed to the shafting of Tim Allen, replaced in the role of Buzz by Chris Evans. Allen’s performance in the Toy Story movies is iconic and truly fantastic. Still, I question the notion that $30 million went missing from beleaguered Tim Allen fans.

The other explanation? Marketing. Lightyear got off on the wrong foot with an unclear premise. Evans’ ill-fated explanation tweet only made matters worse. Is this about a real Buzz Lightyear in the Toy Story universe?

One could argue that even today, Disney hasn’t totally gotten their story straight. The movie itself explains that this is the movie that the Buzz Lightyear toy comes from. An ‘80s sci-fi movie that Andy saw. In theaters. In 1995. That’s styled like a 2022 blockbuster. You can see how people got lost.

On the other hand, we might just be asking the wrong question.

Did Lightyear flop?

pixar's lightyear
Image Credit: Disney Pixar

Of course, it’s too early to say definitively if Lightyear is a flop. That’s not what I’m arguing here.

We’re dealing with a case of Hollywood math, the same system by which Suicide Squad’s $750m profit is considered a dismal failure. Disney had the wrong idea about this movie as soon as they pushed it for a tentpole opening.

Lightyear’s $50m opening puts it in league with Coco and Cars 3, solidly ahead of true Pixar flops like The Good Dinosaur and Onward. It’s the highest opening for an animated film since Frozen II. With a COVID handicap still in play, that’s impressive.

Pixar’s mistake was to angle for a major franchise opening. They applied a post-pandemic framework to the nine-figure openings of Toy Story 4 and Finding Dory. They thought, reasonably enough, that parents would pay big money to turn out for a new, fresh installment in the beloved Toy Story franchise.

pixar's lightyear
Image Credit: Disney Pixar

Herein lies the real problem. Lightyear is not, in any meaningful sense, a Toy Story movie. It has name recognition, which Hollywood has come to treat as a golden rule over the past two decades. But it follows a completely different character, played by a completely different actor, in a completely different world.

Like I said earlier, Tim Allen’s Buzz Lightyear is truly great. But the character is only a toy with an inflated ego, being constantly hit in the face by reality like Sideshow Bob stepping on infinite rakes. So much as wondering about “the real Buzz Lightyear” misses the point of the character.

Lightyear may marginally be a victim of conservative backlash, or poor promotion, or even COVID woes. But fundamentally, it’s a victim of its own premise.

What happens now?

disney pixar elemental
Image Credit: Disney Pixar

Pixar’s next film, Elemental, is already slated for a theatrical release next summer. Barring a huge COVID flare-up or other societal collapse, they probably won’t go back on that. Down the line, other Pixar flicks in development may be looking at streaming releases if Disney has their way.

If anything, The Bad Guys’ recent success proves feature animation is doing fine. In a few weeks, the new Minions movie will likely confirm that. November’s Strange World will tell us if Disney’s animation department has any sort of long-term problem.

I can’t really recommend that you see Lightyear—in fairness, I haven’t seen it myself. If you want variety at the movies, the answer isn’t to support whatever Disney puts out. Live a little and see something out of your comfort zone. If Lightyear’s fate is already sealed, at least it won’t be at the expense of film as a whole.

Continue Reading

Business

Wally Amos: From Cookie Mogul to Life’s Tough Lessons

Published

on

We’ve all seen it before: the tale of the gauzy self-made business entrepreneur swept into fame and wealth, touting a name for themselves, only for it all to come crashing down suddenly. In their joyride, the protagonist figure realizes that beneath the world of dizzy glitters, there’s a saddened space of existence reality awaiting, of gaping shadows where life isn’t as pleasing as it seems to be. 

Experiencing poverty is, without a doubt, a challenging feat in itself. Being born into it, experiencing success, fame, then losing it all and falling back into poverty is what must be especially difficult. Where the majority see this cliche in fiction or television, some are unfortunate enough to experience it firsthand.

This is the story of Wally Amos, of the Famous Amos fame.

Who is “Famous” Amos?

wally amos
Photo credit: Famous Amos

When it comes to feelings about Famous Amos, I imagine people typically fall into one of three groups:

The first group—being made up of mostly young people (probably; I’ve no data)— has zero knowledge of the brand at all. If the name doesn’t conjure visions of second-rate vending machine options (D4 at best), then you’re likely in this group. 

The second group knows of Famous Amos and is familiar with its underwhelming status as a dollar store checkout counter snack food. Reasonable.

But the third group has a different view of the matter. A much more romantic take on the treat. Because this group remembers Famous Amos as a mouthwatering gourmet delicacy. A top-shelf cookie purveyor with an outspoken, charismatic owner in Wally Amos.

Why such a harsh disparity? How can a company less than 50 years old have such contradicting reputations among different generations?

There was a time, just a few decades ago, when Amos was a household name. A successful brand with big-name celebrity investors, upscale distribution, and a first-year total sales revenue of $300,000. 

But by the mid-80s, the brand was hemorrhaging money. Amos would lose his house and eventually sell a majority stake of the company. Many people were left to wonder: How did one of the most successful snack companies of the last decade so quickly decay into financial shambles?

How did Amos find himself on the butt-end of a bad break? 

These are interesting questions, and sure to be answered. But first, it’s worth understanding Famous Amos’ rise to popularity, understanding what made this gourmet cookie company so successful, so, well— I’m not gonna say it, I am not going tofamous.

Wally Amos’ Rise to Fame

wally amos
Photo credit: Tatler

Wally Amos came from a classically humble upbringing, born in 1936 in Tallahassee, Florida, to poor, illiterate parents. At age 12, he moved to New York to live with his Aunt Della. It was here that he learned of the famous recipe. (More on this in a bit.)

Amos, who dropped out of high school, would receive his G.E.D. after joining the Air Force. Returning to New York as a mature, educated man, he found work in the William Morris Agency, a Hollywood-based talent agency once considered “the best in show business.” 

He began in the mailroom, eventually working his way up to becoming the first black talent agent in the entertainment industry. 

This was more than just a side-quest for an aspiring baker; Amos now headed the rock’n’roll department at William Morris, where he signed Simon and Garfunkel and worked with Motown legends like Diana Ross, Sam Cooke, and Dionne Warwick. 

It was only after growing disillusioned with the industry that Amos sought refuge in his aunt’s baking once more. 

Wally’s son, Shawn Amos, said:

“Cookies were a hobby to relieve stress.”

It wasn’t long before the cookies took the main stage. 

Amos told The New York Times in 1975:

“I’d go to meetings with the record company or movie people and bring along some cookies, and pretty soon everybody was asking for them.”

Amos’s connection with the entertainment business helped his business aspirations tremendously. He received significant contributions from industry stars Marvin Gaye and Helen Reddy, who gave Amos $25,000 for his new venture. 

In 1975, Amos launched his first brick-and-mortar location. 7181 Sunset Blvd. in Los Angeles. 

And it was a big deal. The grand opening was a star-studded gala attended by 1,500 people. 

Success was sudden. After selling $300,000 worth of cookies in its first year, the brand continued to climb in popularity. By 1982, Famous Amos was making $12 million in yearly revenue. 

Famous Amos’s success was the result of exploiting a hole in the market. In the mid-70s, the grocery store shelves were loaded with preservative-dependent snack options. Amos carved out a lucrative niche by marketing the product as a gourmet, zero-preservative, craft-made cookie. A risk well rewarded.

From “What’s Going On?” to “What’s Going On???”

wall amos
Photo credit: NPR

With any great market advancement, a plethora of eager competitors emerge. And shortly after arriving on the scene, Famous Amos was met with rival brands like Mrs. Fields, and new, upmarket product lines from Nabisco and Duncan Hines. 

Combining these market competitors and Amos’s inability to keep up with his success led to the first cracks in the business. By 1985, Famous Amos reported a $300,000 loss on sales of $10 million.

Later that year, Amos officially gave up the reigns of his company, selling a majority stake to Bass Brothers Enterprises for $1.1 million.

Two years later, the new owners upended the recipe entirely, adding preservatives and shelf-stable ingredients. Famous Amos was rebranding as an affordable brand. It wasn’t entirely unexpected; such mission-statement-defying practices are common for newly bought companies, but the decision prompted original owner Wally Amos to depart. 

In 1992, President Baking Company bought Famous Amos for $61 million—more than 55 times what Wally Amos sold his controlling stake for just a few years earlier. 

Amos wasn’t through with the cookie business, however. Later in 1992, he launched his new venture…

And was promptly sued. 

Turns out: the latest Amos product— Wally Amos Presents Hazelnut Cookies— stood in direct violation of the contract he had signed years prior when selling his first business. The one that expressly prohibited Amos from using his own name and likeness in the selling of any product.

Undeterred, he changed the name of his company, operating instead as Uncle Nonamé. Boldness had treated him well in the past— and I think it’s an undeniably ballsy way to approach being sued over your own identity— but the market operates in mysterious ways. In 1996, Uncle Nonamé filed for bankruptcy. 

What Became of Wally Amos?

wally amos
Photo credit: Black Enterprise

By 1999, Amos was in talks with Keebler, the new owner of Famous Amos. An agreement had been reached: Wally Amos would become a paid spokesperson for the brand under the condition that they craft the recipe closer to the original. 

And it feels like a solid ending to the story. The sweet embrace of a father and son after a long, arduous journey, complete with lawsuits, bankruptcies, and foreclosure. Ending up together would be fitting— if a bit too good to be true.

“It was bittersweet,”

says his son, Shawn Amos.

“He was happy to be back in the center of the brand he started, but he also had a hard time accepting the fact that at the end of the day, he was just a paid spokesperson.”

The feeling of being alienated from one’s own brainchild eventually led to a short-lived reunion between Amos and the brand that bears his name. 

After leaving once and for all, Amos pivoted to making muffins with Uncle Wally’s Muffin Co., opening a bake shop in Hawai’i.

Amos wrote multiple books about his experience over the years, including Power In You, Man With No Name: Turn Lemons into Lemonade, and The Famous Amos Story: The Face That Launched 1,000 Chips. He has also been a vigorous advocate for literacy and was granted a National Literacy Honors Award by President George H.W. Bush.

At age 80, Amos appeared on the hit television show, Shark Tank, pitching another new business, “The Cookie Kahuna”. The business ultimately failed.

In 2017, he launched a GoFundMe, announcing he was struggling to pay for food, gas, and rent.

No longer famous, Wally Amos continues on with his baking and entrepreneurial spirit. His life is a statement of hard work and resilience, but also a cautionary tale about success, hubris, and the risks we make along the way.

Continue Reading

Business

What’s an MLM? How Does It Work and Why Is It Controversial?

Published

on

Browsing Reddit has become a recent pastime because of a few hilarious and scandalous stories about people promoting MLMs. Then, going through YouTube offered me the same thing: the rise of terrible business practices of multi-level marketing companies. 

While entertaining, I cannot help but feel a sense of sadness for these people who are swept up in these cult-like networks. I went to find out more and see what an MLM is exactly and why many are sacrificing their livelihoods for it.

The Structure

what's an MLM?

If you’ve been online within the past decade, there’s a good chance you’ve heard of the term “MLM.” However, you might not know exactly what it means. Well, I’ll put things into perspective for you. If you ever encountered cryptic Facebook or Instagram message asking you to buy some products, host a party, or join some kind of “exclusive” business, then you’ve had a firsthand encounter with an MLM. Congrats… I guess. 

These messages, creatively nicknamed “hunbots,” are often sent by friends, family, or other mutuals. And if you got an iffy feeling while reading them, that’s because these users are caught up in a very common marketing scam. As mentioned before, the term “MLM” is an acronym that stands for Multi-level Marketing. You may also know it as network marketing or a pyramid scheme.

Well-known MLM companies include LuLaRoe, Mary Kay, Avon, Amway, and Herbalife. (And there’s more where that came from, unfortunately)

The Pyramid

what's an MLM?
From talentedladiesclub.com

I really like the use of the term “pyramid scheme” because when you look at the structure of these companies, they follow or format that is shaped like a pyramid. The higher-ups at the top are comprised of a very small number of people. Meanwhile, there’s a sh*tton of struggling workers at the bottom, all with lost Investments and broken promises.

Let’s say there’s one businessman at the very top of this pyramid. As the head of the company, he hires two more employees under him. These employees must pay an entry fee in order to join the company. Afterward, they are given products to sell, and some of the proceeds go to the big boss. These other two employees hire their own employees to work under them. Same deal; the employees on the third level show the products, and most of that money makes its way up to the one at the top. The cycle goes on and on and on to form a pyramid. 

The Typical Experience

what's an MLM?

So, how does this work from the average MLM employee’s perspective? Put yourself in the shoes of someone who just got sucked into an MLM. I know, it’s terribly cringeworthy, but bear with me. 

So, you’re a new recruit. You must pay an entry fee to join this exclusive establishment. The cost may vary, but usually, the more you pay, the more benefits you receive.

You’ll then be given products to sell. You may have to pay a fee to get these products into your hands. You might have to sell them at a higher cost than their unit price. But here’s the deal: more emphasis is placed on the action of recruiting more members. You will get paid in commission for every new member that you recruit. And guess what they will do with new members? They’ll be asked to pay entry fees just like you, and go on to try to recruit new members themselves. The way the system works is that it benefits only the higher-ups and early recruits. Hence, they call it an MLM. It’s got multiple levels, and the higher up you go, the more you’ll benefit at others’ expense.

What these companies won’t tell you is that new members are their main source of income. When new recruits run low, that’s when the company starts crumbling down. And once that company crumbles, the early recruits and CEOs collect their money, while regular employees are left broke. 

The Manipulation

what's an MLM?

To most people, spotting these MLM companies is pretty easy. A job offer that charges entry fees, has a vague company set-up, or has no adequate interview process is naturally going to raise some alarm bells. So, you might be wondering: how the hell do people fall for these things?? Aren’t they obvious scams?

In truth, it’s not obvious to many demographics. And if you happen to get swept up in an MLM, it’s really hard to get out. Unfortunately, the only reason these businesses still exist is that people keep falling for them. 

Strategies

what's an MLM?

There are three strategies that MLMs use when recruiting people;

  • Targeting certain demographics
  • Using charisma and big promises
  • Giving people a sense of belonging

Let’s circle back to the “hunbots.” Ever wonder why those MLM messages will often use this upbeat “girl boss” language? Well, that’s because most of these companies are created to appeal to young college girls and middle-aged women. Young adults sometimes don’t have enough life experience to notice when they’re being scammed. Meanwhile, some older people don’t have enough tech-savviness to notice online ploys. Many women enjoy the idea of becoming their own boss and achieving a sense of empowerment.

Of course, many men fall for this as well. Normal jobs can be sucky. Sometimes you just wanna make easy money on your own schedule. Especially when the companies in question promise big returns while working on your own schedule. MLMs will often have spokespeople who can convince you to care about their cheap leggings or mediocre supplements.

Once they get reeled into the business, MLMs will host social events that provide a personal connection to other employees and higher-ups. They’ll start to form a bond with these people, until they become almost like a family. Remember that job you wanted to quit and knew you should quit, but the people were so nice that you just…had a hard time? Well,  it’s that time 1000,  because by this point, you’ve already invested so much money and time into them. 

I’ve read so many horror stories of people losing their cars, their houses, their kids, all in the name of some cheap makeup products.

Continue Reading

Trending