Why Big Companies Worry About Startups

While small startup companies are trying to impress the world with big ideas, big companies are struggling to compete with the innovative startups. Scott Kirsner, editor of Innovation Leader, writes that large companies are afraid of being eliminated by smaller businesses like how Netflix or Uber transformed their respective industries and made giant companies obsolete. Kirsner outlined how big companies struggle to compete with startups when it comes to innovation:

(Curated from Harvard Business Review)

“It can be easy to count the number of innovation workshops held at company outposts around the world, or tally revenues from add-on services developed by an innovation group and then handed over to the sales force. But white-sheet-of-paper innovation efforts are fundamentally different from growing and optimizing existing lines of business. Apple founder Steve Jobs famously didn’t believe in focus grouping new products, and when Starbucks founder Howard Schultz wanted to create a totally novel coffee-buying and drinking experience, he didn’t order up market research. The result? Products like the iPad and Starbucks’ new Reserve Roastery and Tasting Room in Seattle, a prototype for future Starbucks flagship stores.”

Big companies don’t have much patience for failure when it comes to innovation. When they spend money they want immediate results. Startups on the other hand are more likely to have patience and put in years of time and effort to see their ideas come to fruition.

“In businesses with billion-dollar bottom lines, it’s nearly impossible to create significant ripples in a year or two. Many of the startups now disrupting major industries like hospitality or media had four or five years to figure out what opportunity was actually worth pursuing, and build a working mechanism for attracting customers. After all, their survival hinged on figuring out how to make things click.”

So, it seems that the biggest advantage that startups have is that they have nothing to lose while big companies have everything to lose. What is your startup’s vision for the future?

Image Source: Harvard Business Review

Top 5 Places To Celebrate Mother's Day In Pittsburgh

Looking for new ways to celebrate Mother’s Day? If you’re having trouble topping last year’s gifts, check out these unique Pittsburgh events.

1. Flowers in the Attic celebrates Mother’s Day this year with a buffet-style brunch. This renovated turn-of-the-century home, located at 7505 Saltsburg Road,  features two floors of beautiful flowers, gourmet food and unique gifts. The brunch will take place on May 10 at 9:30 am and costs $34.99 per person.
2. The Pittsburgh Zoo hosts its annual Mother’s Day celebration on Saturday, May 9 this year. This event is ideal for families with young children. It includes face painting and an animal presentation as well as brunch. Prices vary based on age and zoo membership status.
3. Phipps Conservatory celebrates moms with handmade mom-inspired collages. Even if you’re not feeling crafty, Phipps is a fun place to explore with mom, especially if she enjoys gardening. This event will take place on May 10 at 1:30 pm.
4. The Gateway Clipper Fleet offers three cruises on Mother’s Day. A brunch cruise, lunch cruise, and dinner cruise provide an exciting atmosphere for moms to enjoy a delicious meal without having to lift a finger.

“Mom won’t have to prepare a thing - she is ‘Queen for the Day’ so let her enjoy the fabulous buffet, the DJ playing all her favorites, the beautiful sights and most of all, your company.”

5. And finally, if the weather is nice and you want to spend some time outdoors, pack a picnic! Pittsburgh is home to several great parks and mom will enjoy the fresh air as well as delicious picnic food.

Image by HoboJones

Companies Find Innovative Ideas Right Under Their Noses

Several companies have created internal innovation programs to tap a new market for fresh ideas. Companies such as AT&T and Whirlpool are giving their employees a chance to share and implement ideas in a number of ways.

Did you know that you can send text messages from connected cars and smart trash cans? And that the idea originated with AT&T employees? AT&T’s internal innovation program called the Foundry allows employees to experiment with new ideas.

(Curated from Forbes.com)

“Not many people know that AT&T has a program called the Foundry which is designed to accelerate innovation. They have developed several centers with a $100 million investment where employees basically get a chance to experiment with pretty much anything they want. One of their goals is to shorten the innovation life-cycle for products or services that might take two years to launch to under six months to launch. From what I was told, employees at AT&T have the opportunity to come up with an idea and then pitch it in a meeting of executives just like an entrepreneur looking for funding would pitch VCs. Products from the Foundry include “Cascade” which allows you to send and receive text messages from any connected car, home automation and security solutions, smart trashcans, and more.”

LinkedIn also created an internal innovation program.

“Once a quarter any employee at the company can come up with an idea, put together a team, and pitch an idea to an executive team. If the project is approved the team then gets to spend up to 3 months turning that idea into an actual product or service. These ideas can be anything from internal tools to HR programs to technology improvements. The goal here again is to give employees a chance to get their ideas and their voices heard and to make it easy for anyone to be able to turn an idea into a reality.”

Innovation at any level is essential. How does your company encourage innovation?

Local Gift Ideas for Mother's Day

If you haven't picked up a gift for Mother's Day yet, try shopping locally to support small Pittsburgh businesses. There are dozens of small shops in the city that have one-of-a-kind gifts that could be perfect for your Mom. In this blog, we are taking a look at some of the local businesses and giving some Mother's Day gift ideas. 

BYOB Paint Night

Instead of just buying a gift, you can take mom out for a paint party. For BYOB paint nights at Art Party Pittsburgh, you can sip on some wine and create a themed piece of art together. You can also get the discount price with a Groupon deal here.

Mother's Day Weekend Gift Show

On Saturday, May 9th the Century 3 Mall is having a gift show for Mother's Day. Small businesses will be offering jewelry, purses, accessories, make up and spa items, and many other gifts for mom. Also, the first 100 women to arrive will get a free gift. For more information check out the event website here. 

Here are some other local gift ideas from Pittsburgh Magazine: 

Pittsburgh Glass Center Make-It-Now workshop ($40-$75 per class; register online) 

You and Mom could spend a few hours learning the art of glass-making while creating your own one-of-a-kind item. Sign Mom up for a class to make glass swizzle sticks, wine stoppers, paperweights, coasters, candle bridges and more. Or sign her and yourself up for the special Girl’s Night Out events, where you will enjoy cocktails and desserts and make your very own glass flower. Check out the online calendar to see which Make-It-Now workshops are coming up.

Steel Stars earrings by Audra Azoury ($28-$38)

Loving the Steelers and sporting Steelers-themed gear does not mean your mother has to douse herself in black, gold, red and blue fabrics bedazzled with sparkles and sequins in patterns loud enough to cause seizures. Instead, gift your Steeler- or steel-loving mother these gorgeous, understated hypocycloid earrings by local jewelry-maker Audra Azoury. Be sure to check out Azoury’s entire line of Pittsburgh- and nature-themed jewelry.

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Small Business Development Center Receives $100K Grant To Help Displaced Workers

In January 2015, we joined dozens of local organizations--including the University of Pittsburgh's Small Business Development Center, the Southwestern Pennsylvania Veterans Chamber of Commerce, and McKeesport Business District Authority--to help foster entrepreneurship and innovation in the region with a free 12-week business program. Over 30 people signed up for the program and are graduating this week.

The effort was one phase in a plan to help promote startup business and entrepreneurs in the region. Now, the second phase is expanding to help displaced workers and businesses in Mon Valley. The Small Business Development Center is leading the effort with a $100K grant that it was recently awarded.

One of the purposes of the SBA grant is to find the local supply­ chain companies that once serviced the plant. 

“This one is for the existing businesses, for expanding their market and looking at supply chain connections,” Vargo said. “We're providing subsidized consulting for these business owners.”

Vargo said his center's services are free, including strategic planning assistance for businesses and consultation for former McKeesport Tubular Operations employees.

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What Industry Drove Pittsburgh's Economy in 2014?

In previous blog posts, we've talked a lot about how technology is booming in Pittsburgh. But what other industry is making waves in the steel city? Advanced manufacturing, according to a recent report from NextPittsburgh. The sector was the primary economy driver last year in Pittsburgh with a whopping 68 investment deals.

A majority of the deals were business expansions and retention projects. In dollars, these manufacturing deals translate to $450,234 in capital investment as well as 5,400 new jobs.

Information Technology totalled 47 deals, energy companies 31 deals, financial and business services 28 deals and health and life sciences 24 deals.

“Manufacturing’s performance is especially encouraging,” said Dennis Yablonsky, CEO of the Pittsburgh Regional Alliance. “That sector’s investment deals are creating and retaining high-wage jobs that support a robust supply chain throughout the Pittsburgh region.”

The manufacturing sector still involves technology though, the report highlights this by stating,

“While today’s manufacturing requires fewer employees because of technological advances, the sector demands smarter, tech-savvy workers whose salaries are competitive and reflect the education and training that individuals bring to 21st century manufacturing operations.” 

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Easter Events In Pittsburgh This Weekend

Easter is this Sunday! If you are in the steel city this weekend, there are tons of fun activities for you to do with your family. So that you don't put all your eggs into one basket, here are a few options to choose from: 

Eggstravaganza: National Aviary

From April 3- 5, the National Aviary on the North Side will be having their annual egg hunt with an aviary twist. Children can find eggs and match them up with the birds that they belong to. For registration and event information, visit the National Aviary website here. 

Egg-cellent Egg Hunt: Carnegie Museum

The Carnegie Museum of Natural History is having their annual Egg-cellent Egg Hunt. When you come to the museum you can join in on the egg hunt. The hunt is free with admission to the first 600 children that come. Event starts at 4 PM. More details here.

Bunny Cruise: Gateway Clipper

You can sail the three rivers this Sunday with the Gateway Clipper fleet. The fleet is having an Easter brunch and luncheon on board. The ship sets sail at 10 am and 3 pm. The Easter bunny will also be on board for photo opportunities. Find more event details here. 

What Easter events do you have planned for this weekend? Feel free to share them with us!