Connect with us

Business and Finance

Beyond Seinfeld’s ‘Unfrosted’ – Lessons from Michigan’s Serial Grain Entrepreneurs



The recent release of “Unfrosted”, directed by Jerry Seinfeld, had a disappointing debut on Netflix and was even considered “one of the worst movies of the last decade

But with an all-star solid that features Seinfeld, Jim Gaffigan and Amy Schumer plus America’s love for Pop-TartsIn 2022, $3 billion was sold – the film has the potential to turn out to be a cult classic.

And while it might make viewers need to return to those 93 minutes they spent watching the movie, the true story of the toast cake may teach a precious lesson concerning the persistence of serial entrepreneurs and the strategic decisions that may create a competitive advantage.

In mine teaching, research and dealing with student entrepreneurs over the past 15 years, I’ve learned that entrepreneurial ideas haven’t got to be “new to the world” to achieve success.

‘Unfrosted’ is silly and silly, nevertheless it’s meant to be silly and silly, says Rotten Tomatoes.

A brand new invention: cold cereals

In 1876, Dr. John Harvey Kellogg, a renowned physician and creator, took over as superintendent of the Battle Creek Sanitarium. The famous medical resort attracted 1000’s of patients every year to the small town of Battle Creek, Michigan.

John’s younger brother, William Keith Kellogg, handled the day-to-day operations while John tried to supply his patients with fresh air and a vegetarian, whole-grain food regimen, which he called “biological life

The Battle Creek Sanitarium promoted health principles promoted by the Seventh-day Adventist Church.
Apic/Bridgeman/Getty Images

The food regimen inspired the brothers to develop a recipe for a healthy breakfast, recognizable today as cold cereals. John Kellogg saw cereal as medicine for his sick patients and created the Sanitas Food Company to provide it for the sanitarium’s guests.

Will Kellogg believes that the product may also be consumed by healthy people. Although he saw broader business potential, he didn’t determine to pursue the thought until he saw the entrepreneurial success of a sanatorium patient who produced an identical product. This patient’s name was Charlie “CW” Post.

The post office couldn’t afford to pay for full room and board on the sanatorium, so he worked within the kitchenaccessing recipes.

After leaving the sanatorium, Post founded his own company, Postum Cereal Company, in 1894 and introduced the primary ready-to-eat cold cereals to the broader market.

Post success prompted Will Kellogg to depart the sanitarium industry in 1906 and located the Battle Creek Toasted Corn Flake Company, which became a direct competitor to Post. In 1909, the corporate was renamed the Kellogg Toasted Corn Flake Company and in 1922 the Kellogg Company.

Serendipity results in business success

Although this cold cereal story predates the Pop-Tart story, it shows a number of the ways wherein entrepreneurial ideas come to light.

In the case of Kellogg’s Corn Flakes case played a task.

Although there are barely different versions of the unique story, the gist is that after rolling out wheat dough and forgetting about it overnight, the Kellogg brothers discovered that the stale dough easily broke into thin pieces that could possibly be used to arrange cold cereal. Will later produced flakes with corn that were crunchier.

Another lesson of entrepreneurship is that success can simply be achieved recognizing a chance.

The approach to preparing cold flakes was discovered by accident and over time perfected through trial and error by the Kellogg brothers. CW Post adopted – some might say stole – the strategy for business use, without having to spend time inventing and perfecting the product.

Although the Kellogg brothers could have invented a healthy alternative to breakfast, Post was the primary to bring this invention to market and thus the primary to reveal its business viability.

Toaster Dough Race

While Post could have won the cold cereal battle within the product’s early days, Kellogg’s won the toaster cake contest featured within the movie “Unfrosted.”

After Post’s death in 1914, his daughter, Marjorie Merriweather Post, played by Schumer within the film, took over the corporate on the age of just 27, becoming one in all the primary American women to carry executive positions. In 1929, Postum Cereal Company became General Foods Corporation after Marjorie Post made quite a few business acquisitions.

What happened next shows that being first to market doesn’t at all times provide a competitive advantage. In fact, it’s normal for some marketing experts to call this the “second-mover advantage.” One industry research suggests that early movers beat latecomers in just 15 out of fifty product categories.

On a grocery store shelf there is a row of colorful Kellogg's cereal boxes.
Kellogg’s invention of cold cereal exemplifies the worth of being a primary mover in entrepreneurship.
Golovniov/SOPA Images/LightRocket/Getty Images

This is what we see within the Pop-Tart story.

It was Statement of Marjorie Post in February 1964 about upcoming “Country Squares” – shelf-stable fruit-filled cakes – which gave Kellogg the thought to create its own version.

The bright blue box features a strawberry shortcake and a logo that reads
Kellogg’s Pop-Tart was introduced in 1963.

In the six months before Country Squares even hit store shelves, Kellogg’s released “Fruit Scones.” They were fast renamed Pop-Tarts after the favored pop art movement of that era.

Pop-Tarts turned out to be successful. In 1967, Kellogg’s added frosting that didn’t melt within the toaster and extra complementary flavors original 4 – blueberry, strawberry, brown sugar, cinnamon and apple, currant.

What about Post’s village squares? In 1965 the name was modified to Toast’ Pop Ups, and in 1971 the brand was sold to Schulze&Burch Biscuit Co.currently the world’s largest supplier of store brand toasters.

In a nod to this history, the Pop-Tarts website states, “Others may have tried making toaster dough, but only one has ever perfected it.”

Although the primary mover could have a bonus, the short follower often wins the sport in the long term.

This article was originally published on :
Continue Reading
Click to comment

Leave a Reply

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

Business and Finance

National mortgage lender to provide $20 billion in loans to Black borrowers by 2028.




Mortgage Lender, Black Borrowers, Home

Aiming to close the homeownership gap, the national mortgage lender has pledged to make $20 billion in latest home loans available to Black borrowers by 2028.

As a part of this commitment, the New American Funding program was launched NAF Black Influence, rebranding initiative previously called NAF Dream. The lender states that these efforts support Black people and the community in their pursuit of homeownership. Starting in 2016, the initiative provided $2.25 billion in loans to Black people to reach its goal over the subsequent three years.

The remaining $17.75 billion will go to potential black homebuyers. This includes helping to address the systemic barriers that keep homeownership gaps open for many individuals years.


The implication is that some assistance is actually needed because the black homeownership rate continues to lag furthest behind the white homeownership rate report. It showed that the speed for white Americans in 2021 was almost 73%, higher than the 44% for Black Americans. The homeownership rate amongst black Americans was also lower than that of Hispanic Americans and Asian Americans.

New American funds (NAF) is an independent mortgage lender with a portfolio of over 263,000 customers valued at roughly $69.1 billion and over 250 locations nationwide. The company sees its latest move as a “critical step” toward closing the racial gap in home ownership.

Company co-founder and CEO Patty Arvielo stated, “For us, this is much more than a rebranding initiative. This was a necessary step to demonstrate our responsibility to the Black community.”

She added: “NAF Black Impact means we’re committed to providing access to mortgages and financial resources to help more Black families achieve home ownership. We imagine that by providing the support we’d like, we are able to make a difference and create a fairer society for all.”

Said NAF Black Impact BLACK ENTERPRISES that in 2023, loans to Black borrowers accounted for 12% of all loans. The company added that lending in the primary five months of 2024 was relatively flat compared to 2023. 70% of those loans were government loans (FHA and VA) and 30% were conventional loans. While the 12% figure reflects the U.S. black population rate, the corporate said it could increase its efforts and see annual NAF growth of 1-2% this yr.

Addressing the unique nuances of THE FACE OF THE BLACK COMMUNITY

NAF states that its commitment to the Black community is different from other lenders since it tailors processes and programs specifically to address the unique nuances of “buying a home while black.”

Mosi Gatling, NAF’s senior vice chairman of strategic development, says the corporate has consciously chosen to approach lending to the Black community in a way that’s as diverse as people.

“Historically, the industry has pigeonholed Black homeownership as ‘assisted or affordable housing,’ but Black ownership is so much more, and the Black community deserves an application-to-closing experience that is more than has been provided in the past.”


For example, Gatling said her company might help Black Americans buy a house with money in order that they can compete with investors buying homes in their community. She added that the NAF Black Impact Housing Advocate certification program allows real estate agents and builders who work with the corporate to meet the Black community where they’re and take away unconscious bias that also exists in 2024.

The business report may even provide the Black community with access to educational resources, products, services, partnerships and market support to meet their sustainable home and investment purchase goals.

Gatling thought, “It’s time to evolve because black homeownership is not universal. Buying a home should not mean poverty or revictimization of the group of people we claim to serve.”

She said: “We want NAF to become a place where all black families feel comfortable and supported in home ownership. We want them to know that NAF is here for them.”

Find out more details in regards to the program Here and apply it place.

This article was originally published on :
Continue Reading

Business and Finance

Top-earning LIME Painting franchisee celebrates success and community –




R.L. Hunnicutt, LIME Painting Oklahoma City Franchise

BLACK ENTERPRISES first mentioned by R.L. Hunnicutt in an October 2022 article “Oklahoma City’s only upscale painting franchise is Black-owned and committed to ‘leaving the door open’ for others to follow.” Two years later, Hunnicutt’s LIME painting The franchise continues to grow. This will be attributed to his understanding that a successful business is built on strong relationships and a real connection to the community. Through various community-focused initiatives, Hunnicut actively partners with local organizations, schools and non-profits to support urban development and enrichment projects.

Whether it’s revitalizing community centers, painting schools, or offering free services to underfunded local institutions, Hunnicutt ensures that his work contributes to the well-being of his neighbors. In addition to his hands-on projects, he is devoted to constructing lasting relationships along with his clients, providing exceptional service and maintaining an unwavering commitment to quality. Hunnicutt’s fame for reliability and excellence has made LIME Painting a trusted name within the OKC area, further strengthening his ties to the community.

In honor Junewe caught up with Hunnicutt and asked him to share his insights on how the meaning of the vacation manifests itself in his business.

BLACK ENTERPRISES: Juneteenth is a celebration of freedom, empowerment and community. How does your franchise promote and/or have fun these principles?

RL HUNNICUTT: I’m currently working with This is My Community Foundation, which is an initiative that helps underprivileged youth and adopted children and helps families stay together in northeast Oklahoma City. I check with local students about entrepreneurship and offer them internship opportunities with my company. I speak and mentor about 10-15 kids at college. The children are mostly minorities and come from economically disadvantaged backgrounds.

TO BE: Why is African American business ownership crucial to the American landscape?

HUNNICUTT: African American business ownership is central to the American landscape for quite a lot of reasons. First, it provides diversity to the economy, which helps generate revenue through unconventional and often neglected methods. The black dollar is robust in America and is over a trillion dollars. Then it creates freedom. When you run your individual business, you may dictate what you ought to do. You not must wait to your boss’s approval. Now you control your path. The sky is the limit and you will have the liberty to do what you ought to make a difference.

TO BE: What advice do you will have for young African-Americans about entrepreneurship?

HUNNICUTT: Put God first. Without Him nothing is feasible. Then be consistent and persistent. Finally, eliminate your plan B. If you will have something to fall back on, you will certainly do it. Make sure your corporation is all it’s worthwhile to focus and work on. If you haven’t got anything to fall back on, you will approach every day like a hunter intent on conquering all the pieces in your path!

Hunnicutt is considered one of the best-earning LIME Painting franchise members, showing which you can run a successful business while caring for your community and paying it forward.

This article was originally published on :
Continue Reading

Business and Finance

Reginald Lewis’ daughter opens Beatrice Advisors




Christina Lewis, Reginald Lewis, Beatrice Advisors, Reginald Lewis

Daughter of a superstar Black financier Reginald Lewis followed in his father’s footsteps opening Beatrice Advisors to assist families like hers.

Christina Lewis opened an organization publicly on June 13 in New York. It is the primary multifamily office of its kind to be owned by a Black woman. Meredith Bowen, former partner at Seven Bridges Advisors, will function president and chief investment officer. With a few of their assets coming from the family business BFO21 and Lewis’ personal network, the band is pushing to maneuver away from the established order of occupying a particular area of interest.

Lewis’ goal is to spotlight the importance of getting a tax-efficient portfolio for the following generation of heirs, entrepreneurs and multiracial families like hers. He also desires to set a regular for having a solid team of investment managers, lawyers and accountants that clients can trust and never feel obliged to do.

“The next generation may be very uninformed, just like me and my whole family were when my dad died,” she said, recalling her father, who died when she was 12.

“He had all the intellectual capital around investing and financial access, and of course he never expected to die at 50.”

Her father was the one black person on Forbes’ list of the 400 richest Americans after appearing on the list in 1991 – with a net price of $340 million and an estimated net price of $400 million – which increased in 1992 that very same 12 months he was diagnosed with a terminal brain tumor and died in January 1993, aged just 50.

His estate was left to his wife Loida Lewis and daughters Christina and Leslie. Now, greater than 30 years later, she lives by the three mantras her father left her: do your homework and follow it, make a plan and follow it, and be good at your job.

Beatrice, apparently named after the landmark Beatrice acquisition, which was curated by Christina’s father and have become the primary Black-owned billion-dollar company, offers clients single-family offices and an progressive and technology-driven approach that encourages clients to tailor their investments to suit their individual goals. The current offer includes three key services: investment management, financial planning advice for clients and own investments.

However, Lewis doesn’t stop there and plans to expand his business over time.

Former vp and financial advisor at Shufro, Rose & CoMichael Hymes will function managing director and head of client advisory on the chief team. Bowen spoke highly of Lewis’s leadership she said she was excited to be a part of a “new level of autonomy”.

“Meeting customers where they are now and where they will be tomorrow, while giving them a new level of autonomy, makes Beatrice’s offering an exciting one,” Bowen said.

“Christina has demonstrated an exceptional ability to drive meaningful change, and I am excited to work with her and the team to build a truly differentiated set of solutions for our clients.”

The latest investment firm owner also serves as vp of the Reginald F. Lewis Foundation and is an executive producer of the upcoming biopic about her father’s life, named after his autobiography, “Why Should White Guys Have Fun?”

This article was originally published on :
Continue Reading


Subscribe Us To Receive Our Latest News Directly In Your Inbox!

We don’t spam! Read our privacy policy for more info.