Business « Len Penzo dot Com

100 Words On: Why the Customer Is (Almost) Always Right

By Len Penzo

Almost everyone has asked a restaurant, bank, or other business to redress a particular grievance. It’s debatable whether the titular idiom of this post should be credited to Marshall Field or Harry Gordon Selfridge, but it’s true nevertheless. Indeed, businesses that depend on returning customers typically bend over backwards to keep them satisfied. However, they also understandably draw the line when it comes to unreasonable, abusive and/or unethical patrons. After

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What Does 'Flare' Taste Like? When Swanky Marketing Goes Too Far.

By Len Penzo

Last week my boss and I were sitting in a conference room when he spied a pack of gum that someone had left on the table.

“Hey, Len! You want some gum?”

“Well, that depends,” I said. “What flavor is it?”

“Five.”

“Five? What the heck does that mean?”

“Beats me, but that’s what it says!”

The whole thing was so odd, I took this picture of the package for posterity:

Anyway, after looking at the box

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100 Words On: Why You'll Never Get Rich Working for 'the Man'

By Len Penzo

Many folks who work for others love to complain about the professionally unsatisfying nine-to-five grind of their daily job, yet refuse to change the status quo. That’s because the perceived relative safety of their steady job — and the guaranteed weekly paycheck that ultimately comes with it — is usually enough to keep them on the hamster wheel, even when the job is stifling and unfulfilling. True, that strategy may

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The Vanishing Pay Phone: (Almost) Gone, But Not Forgotten

By Len Penzo

One of my favorite bands, Maroon 5, has a hit single out right now entitled “Payphone” and, every time I hear it, I can’t help but wonder how many of their fans have ever used one.

Long before anybody ever heard of a cell phone, pay phones were everywhere. In addition to the iconic phone booths found at busy intersections, it was common knowledge that you could almost always find a

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What Were They Thinking? 10 Grocery Product Ideas That Flopped

By Len Penzo

While it’s true that companies must constantly innovate in order to stay viable and maintain market share, it’s also true that not every idea that comes out of corporate research and development departments will be a huge success.

Of course, the pressure to stay on top is huge, and coming up with innovative ideas that people will embrace isn’t easy, as illustrated by the countless number of market miscalculations and abject

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$12 Million Underwear and Other Strange Finds on Amazon & Ebay

By Len Penzo

I don’t know about you, but I find a lot of things in life that often make me stop and just shake my head in pure bewilderment.

For example, why do tourists go to the top of tall buildings and then put quarters in telescopes so they can see things on the ground?

And I still can’t figure out why Hawaii has Interstate highways.

Then there are the audacious prices some folks are

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100 Words On: The Best Time to Start a New Business

By Len Penzo

It’s not unusual for budding entrepreneurs to fret over the best time to start a new business, especially during economic downturns when even the most self-assured impresarios often become paralyzed with doubt. They shouldn’t. After all, there are advantages to starting during tough times including reduced competition for top talent, and lower rent and overhead costs. A study by the Kauffman Foundation found that more than half of all Fortune

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My Daughter's Latest Business Venture (A Car Wash? That's So 2011!)

By Lenina Penzo

This is another post from my 12-year-old daughter, Nina.

Hi everyone! My dad asked me if I would write another article to tell you about my latest accomplishments so far in 2012.

My last post received a lot of attention because it was put on MSN’s Smart Spending blog. I was very excited when that happened and it made the end of 2011 a memorable one for me. If you remember, in

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10 More Old Wives’ Tales Masquerading As Financial Rules of Thumb

By Len Penzo

There are people out there who swear that if you’re lucky enough to see the first flower of springtime on a Friday, it’s a sign of impending wealth.

I know. I don’t buy it either.

Still, let’s assume these folks know what they’re talking about; what happens if that first flower is found on Friday the 13th? Is the wealth omen officially null and void?

Can somebody take an action item and get

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Black Coffee: Why Buy Chicken McNuggets When You Can Just Say 'Not'?

By Len Penzo

It’s time to sit back, relax and enjoy a little joe…

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance. Here’s what caught my attention over the past week…

Blogs I’ve Been Following This Week

Couple Money – More People Preparing to Eat Dog Food in Retirement. I expected this article to be a taste test comparison

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