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Underutilized Research Gems

If your first thought when hearing the phrase “government information,” is a stack of boring, bureaucratic reports, you’re not alone. There’s more to government information, however, than you may realize. Several government agencies regularly produce valuable business intelligence and the James J. Hill Center can direct you to some underutilized gems.

If you’re exploring a new industry, the U.S. Census Bureau should be your first stop. The Census does far more than count people; it counts businesses as well! The Economic Census run every five years and collects data at the sector and industrial level along with information about business expenses and industrial growth. The 2017 Census is scheduled for release soon, so keep an eye on that space for the latest information.

Interested in gleaning public company data from the web? Check out the SEC’s EDGAR search tool. Located on the U.S. Securities and Exchange Commission website, this tool allows users to pull certain mandated reports for public companies. These include annual reports (10-K), quarterly reports (10-Q), and special announcements (8-K) along with a variety of other documents. If you’re interested in getting the nitty-gritty information on publicly traded companies, using EDGAR can trim down your time spent searching company websites for glossy annual reports.

Want to learn more about government information and how it pertains to your business? Check out the Hill’s Research Boot Camp series. This accelerated class combines government and subscription database information for a 360-look at how business information is gathered and more importantly, how you can use it to succeed.

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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A Consumer’s Guide to Women’s Equity

Check back each month for the Original Thinker Series as we explore local innovation in entrepreneurship, the arts, and our community one pioneering mind at a time.

It is hard not to be optimistic after a conversation with Kateri Ruiz, founder of MAIA.community. Kateri is committed to emboldening women’s equity and has vowed that she “will not cease until all data sets can prove it.” Her approach to gender equity work: speak passionately and carry a big directory.

MAIA is a free access directory of women-owned businesses across the nation. It is built for the conscious consumer who wants to spend their money in alignment with their values—especially when it comes to gender equity. Companies with at least 50% or greater female representation in the highest levels of leadership are listed for free with the option to purchase a premium listing for greater visibility.

The idea for MAIA began when Kateri and her husband started paying attention to the products and services they were bringing into their home. They put them through a litmus test: were these products and services ideated by, created by, or done in a holistic image of a woman? After failing month after month to match their spending with the 5:1 female to male ratio of their household, Kateri realized there was a larger problem to solve. “Why is this so hard,” says Kateri. “Women owned firms are everywhere.”

Kateri began earnestly gathering every list of women-owned businesses she could get her hands on. (Shameless plug: She did some of her research at the James J. Hill Center.) What she realized in the process was that these lists are plentiful but scattered. They are often owned by groups or associations and accessible only to paying members. Additionally, most are designed for business-to-business use and not for the consumer.

Someone needed to gather all these lists into one place and make them searchable and user-friendly to the everyday person trying to live a socially conscious life. Thus MAIA was born. “We wanted to make it easier for consumers to have that level of information,” says Kateri. “So that consumers could spend their money in a way that meant something to them.”

Women make up nearly half of the workforce in the United States (46.9%). Yet, only 5% of S&P 500 companies have a female CEO and only 21.2% of board seats in these same companies are filled by women. “The disparity between who is doing the work and who is leading the companies we find to be a systemic barrier,” says Kateri.

After spending a career in workforce solutions, Kateri is taking the reverse approach with MAIA to influence systemic change. “If we are being told that we cannot figure out how to solve gender pay parity for another 50 years… then perhaps we should move outside of that status quo and drive a more female-centric economy—potentially on its own,” says Kateri. This is what makes Kateri an original thinker. She is harnessing the free information philosophy of the Internet to allow us to support the businesses—and the women leading them—that we’d like to see more of in the world.

“We believe that when women are involved equally at the highest levels of leadership where we ideate, where we create, where we are making the decisions… that can yield a more holistic product and solution,” says Kateri.

To join the MAIA Community visit their website maia.community or reach out to the team at info@maia.community.

 


Written by Christopher Christenson, Program & Event Coordinator, at the James J. Hill Center. Have an idea of a person or organization to feature in this series? Send your recommendations to 
christopher@jjhill.org.

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“Building” Data

Opening a store-front location adds an additional research layer onto an already complex process. In addition to industry and competitor investigation, you now must consider foot traffic, signage, and accessibility issues as part of your research! Thankfully, the James J. Hill Center’s resources offer ways to connect you to the information you need to finalize your business’ location.

The Hill offers SimplyAnalytics on a walk-in basis for demographics and consumer behavior research. You can look up survey data on a variety of topics including buying behavior and consumer attitudes, and blend it with information on population, ethnicity, household income, and others pulled from the U.S. Census Bureau. SimplyAnalytics, formerly SimplyMap, offers multiple ways to view this data. You can compare two (or more!) specific locations down to the block level using the Comparison chart tool or rank counties, cities, zip codes, and beyond using the Ratings view. A stand-out feature of SimplyAnalytics allows users to map other, similar businesses as sorted by NAICS code onto a map of a desired location. You can literally chart your competitors in a designated location, creating exportable maps for future presentations!

While the Hill is your first stop when it comes to business research, when it comes to location-specific information, however, there’s no substitute for going straight to the source. The City of St. Paul can seem overwhelming for an entrepreneur at any stage of business development. Fortunately the Saint Paul Public Library’s Nicholson Workforce and Innovation Center is here to help. Located at the George Latimer Central Library downtown St. Paul, the Innovation Center works with St. Paul businesses to connect them to city resources on zoning, state-specific human resource requirements, and other support organizations to get your storefront up and running. If you need any help navigating the Twin Cities business research ecosystem, head over to the Hill for guidance and support during your referral process!

Additional questions? Book a complimentary 20 minute introductory appointment at the Hill by heading to jjhill.org and choosing a time that fits your schedule.

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Librarian vs. Research Consultant: Is there a difference?

If you’re familiar with the fast-paced world of start-ups, the last word that may spring to mind is “librarian.” After all, what do dusty, silent spaces have to do with the high-intensity, data-focused mindset of your business. You thrive on intel and need constant updates on the latest and greatest news within your field. But what if I told you that there’s a new disruptive force in the information game? Able to pivot with each new technological advancement, analyze new industries and companies daily, and mine the Web for the best business intelligence to be found? Amazing, right? Now what if I told you all that could be yours at the library?

The James J. Hill Center combines widely available online resources with industry-standard subscription databases to provide high-level intelligence for start-ups. Ready to starting pitching venture capitalists and unsure where to start? Curious what your competitors’ funding rounds look like compared to yours. Your first stop may be Crunchbase.com, like any good Internet sleuth. What happens, though, when you want to go more in-depth with a private company’s financial history? What about searching for funders geographically? Enter PrivCo.

PrivCo offers a behind-the-scenes look at private companies valued at $10 million and above, funding rounds for equity and venture capital investors, and a detailed history of mergers and acquisitions for profiled firms. Stop in to take advantage of this fantastic resources anytime the Hill is open, Monday to Thursday, 8AM to 4PM.

Disrupt your research routine. Visit out the library. Check out the Hill.

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Take Your Interview Prep to the Next Level

It’s finally happened! You’ve landed the big interview for your dream position. You’ve got the passion and drive to succeed once you’re hired, but how do you stand out from the crowd of other applicants? Supplement that charming smile with some hot facts to impress your interviewer by visiting the James J. Hill Center.

Start by checking out an industry profile using IBISworld. IBISworld reports include sections on supply chain, competitive landscape, and a five year forecast for revenue, growth, and trends at the national level. Link your position within the company to one or all of these topics and explain how you’re ready to be a solution to a company’s present and future challenges.

Once you’ve perfected the macro-level view, head to A-to-Z Databases to get a sense of the company’s competition. You can pull a list of companies within a specific industry at the state, metro, or even zip code level. This helps you generate questions for the company, namely how are they different from the rest of the field? A-to-Z Databases partners with Indeed.com so you can also scope out other job postings, just in case.

Finally, check through Business Source Premier from EBSCO for recent news stories on your company. Nothing says “I did my homework” than casually referencing an upcoming merger or saying congratulations for a recent award.

Keen to find out how these resources can take your interview to the next level? Visit jjhill.org to see our collection of databases and research guides to get started.

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Medical & Life Science Industry Research at the Hill

If you’re thinking of getting into the fast-growing industries of medicine or life science, trying to get verified information can be a real challenge. HIPAA, or the Health Insurance Portability and Accountability Act of 1996, protects your health information from being distributed, but can make getting demographic profiles for your business almost impossible. Thankfully, the James J Hill Center has specialized resources to aid your search!

Researching a particular medical procedure? Use the American Hospital Directory. Available here on-site at the Hill, this high-powered directory will not only let you pull up a list of hospitals and clinics by geography, specialty, and procedures provided, but will also let you investigate the finances of each organization listed. You can learn whether or not your future clinic can corner the market in your state on the latest, cutting edge medical offerings.

Keen to start a non-profit that supports biological conservation? Maybe you dream of leading a crew of volunteers to the next big ecological discovery. Use the Hill’s subscription to the Foundation Directory to find grants to fund your expedition. You can search both public and private grantmakers by topic. Did you know that there’s almost $11 billion dollars in grants available to support wildlife biodiversity work? Come in and check out with grant is right to fund your life’s work in the life sciences.

Interested in learning more about the resources at the Hill? Thrilled by the prospect of in-depth data analysis? Schedule a 20 minute appointment with our staff to learn about our database classes, memberships, and research support services.

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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5 Smart Research Tips 

Do you have the next great business idea? Is your small business ready to move into the mainstream? If so, you probably know that business intelligence is key to making an informed decision about the next stage of your career. That means you’ll need to navigate the exciting world of business reference sources! 

Getting started with your research can feel overwhelming. With so many websites, topics, and techniques to choose from, it can seem like doing research is more trouble than it’s worth. With a little guidance, however, you too can find the key facts to jump-start your business.  

Here are 5 smart research tips from the James J. Hill Center: 

1) Start with Broad Topics 

It’s very tempting to search for the exact fact you want, but looking up “2010 household spending trends” might be counterproductive. By searching so specifically, you might miss a great article on that topic that doesn’t have your key words included. Instead, start with wide-ranging topics like “household income” and “domestic spending trends” to maximize your research results.  

2) Limit your Date Range 

When searching online or in the databases at the James J. Hill Center, pay attention to the date range on your results. You don’t want to build a pitch deck around an article on real estate trends only to find out it’s from 2002. Give yourself a range of two to five previous years to find the most recent information. 

3) Use Synonyms 

Is your search for “trade shows” coming up short? Remember, there’s many different ways to describe what you’re looking for, so brainstorm some alternate search terms. You may hit the jackpot when searching for “convention expositions” instead.  

4) Combine Resource Types 

Plenty of people are satisfied with a couple online searches, but true entrepreneurs go beyond Google. While some helpful information, such as the Economic Census or labor statistics, are freely available online, subscription databases can elevate your research process. The James J. Hill Center subscribes to a series of databases, such as IBISworld and Business Source Premier, that contain valuable information not available anywhere else. Stop in to use our resources on-site!  

5) Ask for Assistance  

Remember, research is a long, slow process, but it’s not something you need to handle alone. Make an appointment with a business librarian at the James J. Hill Center and let us connect you to the business information you need.  

 


Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. To meet with Jessica about your research needs, make a free appointment hereIf you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Shop Talk: NAICS and SICs

If you’ve taken a stab at industry or market research, chances are you’ve come across NAICS and SICs. When used to your advantage, these code systems are handy ways to search across multiple database and search platforms to achieve targeted results. They were created as a way to classify industry areas with the purpose of collecting, analyzing and publishing data relating to the economy.

SIC (Standard Industrial Classification) codes have been around since 1937, and appear as a 4 digit number that represent an industry. NAICS (North American Industry Classification System) is a newer system, established in 1997, and will show up as a 6 digit number that will help you find extremely targeted information. NAICS codes were developed to replace SICs, but you can search via both systems in most business databases.

Most business databases will allow searches via NAICS and SICs, which is helpful because each database uses its own distinctive terminology and classifies information in a different way. Using your unique industry code will help you cut through the information faster, and saving time is in everyone’s interest.

While we love using NAICS and SICs to search quickly, they are not for every situation – like searches that span across multiple industries. For this situation, the researcher will want to use other factors like company location, size or annual revenue to help narrow down their search.

For the DIY business researcher, the simplest way to find your NAICS code is through a web search for your industry name (or description) and “NAICS,” which will generate your code. For a detailed, browsing list, try the US Census Bureau for the official list. Librarians are also available to help navigate through the search process at the Hill, which is a great reason to visit us for an appointment!

 


Written by Lindsey Dyer, Director of Library Services, James J. Hill Center. If you have more questions about the reference library our our historic collection at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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Startup Tips from the Hill

In celebration of Twin Cities Startup Week 2017, the James J. Hill Center thought they would share their top 5 tips for entrepreneurs and small business owners.

  1. Find the best data and use it
    You need solid information and data to support your start-up, whether you are writing a business plan, researching venture capital or looking for business leads. A few hot tips: IBISWorld is the best database for industry information, PrivCo is your bet for hard-to-find private company information and SimplyAnalytics is perfect for demographic information that can be used to inform you on developing into new markets. You can find all of these databases at the Hill…and they are free to use.
  2. Learn from those who have traveled the same path
    At the Hill, we provide a lot of opportunities to do just that. Meet the Expert is a perfect example of a program that connects you with experts across fields of law, marketing, digital, business development and more. Find the missing link for your start-up in this speed-dating style program.
  3. Show up
    You’ve heard it before “the world is run by those who show up.” Try out a networking event or attend 1 Million Cups St. Paul. By showing up, you’ll get the double benefit of learning more about the start-up landscape in the Twin Cities, as well as an opportunity to share your dream and find those willing to support you along the way.
  4. Look for help from those who know
    Thinking about writing a business plan, starting a non-profit, or moving your product into a new market? Try our Database Deep Dive series to take the edge off the research. These free workshops occur twice a month and will offer the best tips and tricks to navigating our databases. We love to answer questions, so come ready to dig in!
  5. Remember you’re part of something bigger
    Chipping away at a new start-up can bring up a number of feelings, but isolation doesn’t have to be one of them. Consider us your new home-base for your business. The Hill is a powerful space ripe with a rich tradition of entrepreneurial wins. Come use our free Wifi, sit and work, bring your lunch or use our resources to build your dream. Do you think you are one of the “original thinkers” that James J. Hill wanted to attract to his library? We think so. Come in and give us a try.

Written by Lindsey Dyer, Director of Library Services, James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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The American Hospital Directory: A Hidden Gem

The region spanning from the Twin Cities metro area down to Rochester is such a hotbed of healthcare organizations and medical device companies that it’s known as “Medical Alley.” In fact, a 2015 article by EMSI notes that the Twin Cities Medical Alley has far more medical-related jobs than any other metro area in the United States, over 10,000 more than New York. Minnesota is clearly a leader in the medical industry housing such influential companies as 3M, Medtronic, the Mayo Clinic and the Medical Alley Association.

The business reference library at the James J. Hill Center is here to help professionals in the medical device industry find the information they need. We offer a highly specialized database, the American Hospital Directory.  This database can be accessed for free at the Hill Center in downtown Saint Paul.

The American Hospital Directory is a tool that medical device sales professionals find invaluable for finding detailed information about hospitals in their market. Data is collected from both public and private sources such as Medicare claims, hospital cost reports and commercial licencors. Using this directory, you can learn a hospital’s specialties, bed count, revenue broken down by services and more.

This type of research is a vital tool in the medical field.  To have the ability to compare and contrast hospitals by patient statistics, revenue and services puts you at the top of your game and on the road to success. Stop by the Hill today, have a conversation with one of our business librarians and use this hidden gem.


Written by: Leah Kodner, Business Librarian, James J. Hill Center.

If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or hillreferencelibrary@jjhill.org.

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IMPORTANT NOTICE:

Patrons with accessibility needs please access our ground floor elevator entrance via Kellogg Ave at the back of the building. Please ring the doorbell on the right hand side of door and a Hill staff member will assist you. If you have questions or concerns please call 651.265.5500. We look forward to having you visit.

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