Word: joel
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...mail or a phone in his bakery-home outside Managua. So I had to get a Kiva volunteer to go there with a cell phone and translate. My first suggestion was to change the name of the place from the Little Mango Bakery to the far more compelling Joel and Freddy's Extreme Cupcakery. I thought the bakery should switch its focus from empanadas and breadsticks to extreme cupcakes, for which we would charge $4 apiece. I would have my loan repaid in five cupcakes, assuming generous tipping...
...thought, however, that we should bring the price down to 16 córdobas, which is about 80˘. But Freddy assured me that in his neighborhood, that price would still make our cupcakes obnoxious luxury items. He also suggested that we tweak the name of the shop to Freddy and Joel's Extreme Cupcakery, since Freddy claims he's better known than I am in Managua, which I pretended to believe. When we started to talk about cupcake flavors, Freddy suggested vanilla, chocolate, strawberry, pineapple and banana. From my experiences in cupcake-eating, I told him he might want to start...
...realized that Freddy y Joel's Muy Cupcakery should co-brand and partner with a large baking conglomerate, since co-brand and partner with are terms I've heard my friends in Silicon Valley use. So I contacted Candace Nelson, who co-owns Sprinkles Cupcakes, a chain that Oprah Winfrey says is one of her favorites. When I mentioned the opportunity to take her five-store chain global, she became very interested. "Once we're up to the top 20 cities in America, we'd think about going to Mexico," she said. "We'd love some market research...
...Sprinkles agreed to give Freddy y Joel's $750 and a strawberry-cupcake recipe in exchange for regular reports on sales of that cupcake as well as a list of our three best-selling flavors. We agreed not to open a Freddy y Joel's in California, and in return Sprinkles would stay out of our section of Managua. Nelson will consult for Freddy y Joel's and serve on our board, and we will name our cupcake line Pedacitos, which may or may not mean sprinkles in Spanish. I told Nelson she could have 2% of the company...
...that Freddy y Joel's is thriving, I'm going to step back and let Freddy start baking at 5 a.m. and close his shop at 9 p.m., while I get involved with other loans in my portfolio. I'm also going to give kiva.org gift certificates to all my consultant and business-school friends, so they too can annoy hardworking people around the globe. By the end of next year, I predict the developing world will not only be economically thriving and significantly more diabetic but also regret ever getting involved with microloans...