-
The Cost of Inflation: Consumers Face Higher Prices for Food, Household Items
Produced by Neil A. Carousso
NEW YORK (WCBS 880) — American consumers are facing the brunt of inflation.
Prices for food, cars, and household furniture and appliances are responsible for much of the 7.5 percent annualized inflationary surge. Wage pressures resulting from the tight labor market could push inflation higher, too, as WCBS anchor Steve Scott discusses with CNBC senior economic reporter Steve Liesman on The 880 Weekly Rewind.
-
How to Create ‘FOMO’ in Virtual Events to Grow Sales
By Joe Connolly and Neil A. Carousso
NEW YORK (WCBS 880) — No one wants to feel left out.
Some businesses have been thriving in the digital space and using virtual events to drive sales. While virtual events allow companies to reach audiences outside their normal radius, combating Zoom fatigue can be the biggest barrier.
VeeKast president and CEO Donvil Collins’ advice: “Find some way to give your viewers 10 seconds of fame.”
He told Joe Connolly and Neil A. Carousso on the WCBS Small Business Spotlight, sponsored by Dime Community Bank, that people on the other end of the computer need to feel like they are part of an experience. It won’t be successful if it’s one-way communication.
“Especially thinking about the chat, can people respond? Are people in the broadcast able to respond to the people that are watching?”
One of VeeKast’s clients, Collins said, had been drawing about 400 people for in-person events pre-pandemic. It had a live audience of 2,000 people online and they got more than 6,000 views of its event on-demand.
“Really part of what they did was creating what I like to call ‘FOMO,'” he said of the acronym that stands for “Fear of missing out.”
“That’s one of the big things that organizations are missing sometimes and not only getting people to watch it live and not feel like they’re just watching, they’re actually a part of this event. It’s not a production, it’s an event,” Collins explained, continuing, “And then for the replay, it’s ‘What did you miss? What’s the big deal?’ So I think FOMO is a big part of driving engagement, views, and all of that.”
VeeKast was founded in 2013 as an in-person events and video production company based in White Plains, NY. Collins made commercials and other advertising while also producing some livestreaming events. By focusing on virtual events during the pandemic, Collins said they doubled their business both in 2020 and 2021 from the year prior.
“Our goal for this year is we’re just going to push it and try to triple the business,” he said. “At least from what we’re seeing in an increase, there’s a lot of opportunity there because there’s so much need for help. People want to get this stuff done, but they don’t really know how, and they just need a single mind or a managerial company or someone that can come in with all the gear and actually help them do it well.”
VeeKast prides itself on producing virtual events that look like the Academy Awards with overlay designs and professional audio/video equipment they supply as part of a “remote broadcast kit.”
“We send a lavalier mic, we also send tripods and we send them a link that we can control the camera equipment remotely,” said Collins.
“From your offices in Westchester, you’re running a whole TV network like a control room now,” noted Connolly.
“There’s some that was (sic) international locations in Europe and other places and we are controlling the gear that is there so we can get the quality of the recording to be better.”
See ways businesses are leveraging broadcast quality virtual events to grow sales on the WCBS Small Business Spotlight video above.
-
880 Weekly Rewind: Crime Shakes NYC, Americans Die from COVID at Higher Rates than Europeans, Tiki Barber Gets Emotional Over Brian Flores Lawsuit
Produced by Neil A. Carousso
NEW YORK (WCBS 880) — The mayor is calling for help.
On The 880 Weekly Rewind, Mayor Eric Adams explains what he needs from President Joe Biden and the federal government to get New York City’s crime surge under control.
Lynda Lopez also explores why U.S. COVID-19 death rates are far higher than other wealthy nations, and takes a hard look at Brian Flores’ lawsuit against the NFL with retired New York Giants running back Tiki Barber of WFAN.
Listen to The 880 Weekly Rewind podcast for a deep dive into the top stories of the week, produced by Neil A. Carousso for WCBS-AM New York.
-
Taking the Leap: Growing and Scaling a Business Amid Great Resignation
By Joe Connolly and Neil A. Carousso
NEW YORK (WCBS 880) — Many people who started businesses while working from home are quitting their jobs to run their companies full-time.
“I love the independence of entrepreneurship,” said Ramon Ray, founder of Smart Hustle Media, on the WCBS Small Business Spotlight, sponsored by Dime Community Bank.
Ray has made a career out of his passion for small businesses, advocating for digital growth tools and community support. During the COVID-19 pandemic, the serial entrepreneur saw so-called “solo-preneurship” booming and wrote an e-book guide “Grow Your Solo” in which Ray outlines steps to start and grow a sole-proprietorship.
“You can scale the business to the size that you want and be happy with that and live the life you want,” he told WCBS 880.
A record 5.4 million Americans submitted new business applications in 2021, a number that has accelerated since July 2020 as economists and employers became aware of the great resignation phenomenon.
One of the greatest challenges new business owners face is pricing their products and services.
“Let’s say in the Northeast, right – us people – you want to pay yourself $150 (thousand), $200 (thousand), whatever it is,” Ray said. “Now, maybe triple that.”
The small business expert noted owners have to pay employees and contractors, overhead costs, operating expenses, other unforeseen costs, plus taxes. That’s a big adjustment for entrepreneurs who have left high-paying salaried jobs.
Ray started Smart Hustle while working at the United Nations. He told Joe Connolly and Neil A. Carousso that he was fired about seven years ago with one client on his roster.
“I had a $40,000 client. That’s all I had, Joe, but it was able to give me enough cushion and a starting point, a runway, to begin my full-time business,” said Ray.
He accepted monthly payments from the client to stay afloat and support his family while selling his services to more clients.
He suggests owners secure a few good clients, first, before taking the leap. At the same time, he believes entrepreneurs who are confident in their business will succeed if they are passionate and motivated.
As a small business owner himself, Ray consults with large national and international firms as clients and is the entrepreneur-in-residence at NetSuite, Inc., a leading cloud computing software company.
“If you’re trying to bid or sell for a larger project, don’t try to pretend and say, ‘We, we, we. We have 100 people back there,’ when you don’t. They’ll smell through that, so you can’t sell on that,” he explained, adding, “But, you can sell them on the passion and commitment and your, hopefully, past success and talk about, ‘We’re small, but we’re nimble. Maybe we can be more price competitive. We have an amazing team that will serve your needs and we will be your only focus.'”
Ray also advises to sell services directly to an executive within a company because that person can be a key endorsement and referral to other departments within the firm.
See more advice and inspiration for starting, growing and scaling a business on the WCBS Small Business Spotlight video above.
-
NYC Crime: Mourning and Outrage Over Cop’s Murder
Produced by Neil A. Carousso
NEW YORK (WCBS 880) — Grief turns into anger over gun violence in New York City as thousands of NYPD officers and cops from around the country gathered at St. Patrick’s Cathedral on Manhattan’s Fifth Avenue where murdered Detective Jason Rivera’s funeral was held Friday morning.
In her eulogy, Rivera’s widow Dominique gave a pointed message for New York’s leaders who are vowing to act on rising crime. Lynda Lopez examines how they aim to restore safety to the city’s streets on The 880 Weekly Rewind.
Listen to The 880 Weekly Rewind Podcast for a deep dive into the top stories of the week, produced by Neil A. Carousso for WCBS-AM New York.
Interview
Social Feeds
VIDEO: Told the airline to book us on the next flight out (SPONTANEOUS TRIP!)
VIDEO: The Taylor Swift Effect | WCBS Business Breakfast
VIDEO: Future of NYC | WCBS Business Breakfast
VIDEO: Reasons for New Yorkers to be Optimistic | WCBS Business Breakfast
VIDEO: NYC's AI Chatbot | WCBS Business Breakfast