Nine out of ten adults 25 to 35-years-old said they prepared ethnic food at home in the past month, compared to 68 percent of those 65+, according to research from Mintel. Additionally, 91 percent of Americans with children under the age of 18 in the home cooked ethnic food compared to 78 percent of those without children.

“The ethnic food category has had a very strong performance during the recession, followed by a still positive but slightly lower growth trend, likely driven by a return to restaurants,” said John N. Frank, category manager, CPG food & drink at Mintel. “However, the category is forecast to grow in the future due to its heightened popularity. As Americans, especially younger people, have palates that are becoming more adventurous and sophisticated, they are also eager to explore lesser-known cuisines with unique flavor combinations.” Continue reading →

Source: Mashable
By: Eric Grafstrom

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Many founders and CEOs come asking, “we need to hire a biz dev person, do you know anyone?” Few roles have more varied job descriptions than business development. It’s no wonder why it is hard to figure out who to hire, what this person should do and how to measure success. Read below for tips on successful business development for startups, including how to avoid many of the typical frustrations with business development.

1. Hire the Right Person at the Right Time
A person with deep industry knowledge and strong network ready to “do deals” can turn into a disaster if it is too early in a company’s product lifecycle. There are three stages in the commercialization process and not everyone is suited for every stage.

Scouting: The earliest stage of a company. At this point, business development is about identifying various routes to market, points of leverage and providing the internal team early market feedback. The ability to work with product and engineering teams is a key skill.

Testing: At this stage, biz dev will close a few deals to test assumptions and provide measureable input before you scale the business. Analytical skills to set up a framework for what to measure, and examining the data, will determine if and where to scale based on the company’s strengths and vision.

2. Business Development Is Not Sales
In general, business development will identify and create partnerships that enable leverage for driving revenue, distribution or that enhance the product.

Sales is focused almost exclusively on driving revenue. Similar distinctions will apply when hiring a sales leader for an early stage company versus a more mature organization. Continue reading →