Monday, May 19, 2003

Morning Memo

Hot tips & news to start your business day

Today's number: 35.5% - Global market share of the top mobile phone vendor, Nokia Corp., in the first quarter, as it shipped more than 38 million units - more than double its closest competitor, Motorola Inc., with 15.5 percent, and Samsung Electronics Co. with 12.3 percent.

Today's money tip: Dollar cost averaging investing a set dollar amount at regular intervals - into a balanced portfolio of good-quality stocks and bonds is the best investing approach, always. The periodic investing protects you against emotional responses to swings in stock prices, while keeping a mix of assets ensures something you own will zig while others zag.

Today's career talk: Never use e-mail to deliver bad news or fire somebody, Nancy Flynn and Randolph Kahn say in their book Email Rules. "Lacking the benefit of body language, facial expression and intonation, email is the worst way to deliver bad news to employees," they contend. "And, should a wrongful termination lawsuit follow, personal notification may cast management in a better light than electronic notification would."

Today's company: Upcountry Products LLC

HAND-Y ITEM: Research chemist Bob Claus teamed up with marketing expert Ken Paley to produce and distribute Yard Glove, a lotion that protects gardeners' hands from discoloration and makes cleanup much easier. Paley launched Upcountry Products, which operates from his Indian Hill home.

TEAM EFFORT: Paley created a network of local companies to propel Yard Glove into the public eye. The lotion is produced by Kutol Products and sold in Owens-Illinois plastic bottles with Cincinnati Container caps and labels by Mr. Label. The company's graphics are done by Tom Tarvin Design; its web site by webFEAT. Public relations work is performed by two independent agencies.

HITTING PAY DIRT: Palen's marketing strategy for Yard Glove is three-pronged: to create a buzz about the new product, thousands of samples have been distributed to garden clubs and related organizations; promotion has targeted media outlets; advertising spots air on gardening shows in the Cincinnati and Lexington markets.

PLANTING THE SEED: Yard Glove has gotten lots of positive attention from area garden centers as well as from gardening gurus such as Ron Wilson.

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Morning Memo: Hot tips & news to start your business day

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